Fidelity - Order Size Restrictions

General
1

Has anyone who is using Fidelity been receiving the below error when trying to buy or sell? I've used Fidelity for years and have never had this issue.

"The share quantity entered for this order is greater than the maximum allowed. Please review your order or contact a Fidelity representative at 1-800-544-6666 for additional information."

From what I understand this is a new Fidelity rule that was put in place recently to block buys/sells of thinly traded securities based on ADV. It impacts both market and limit orders from what I can tell. Huge pain to be honest. Even putting in multiple limit orders won't help.

Curious if anyone else is having the same issue or has any knowledge of what the volume thresholds are. Thanks.

2

You should call them. I've found their customer service extremely helpful. It won't be a mystery once you talk to them.

3

Yes - for sure, call them. I ran into the same thing last week.

When I spoke with them, they opened a 15-minute window for me to buy/sell, but I didn't get the day-long window I wanted (additional windows required repeat calls).

Luckily, the liquidity was there for me at that exact moment.