1-I would say that was a glitch on your platf screen.Order wich got trapped not updated. I was told that long ago so it is possible. 2- I had also an issue on one of my last traders.I was unable to hit a bid I was watching. So that means things like this happens. 3-I had a time clcking once there were 2 orders in (in futures).It was my mouse problem I discover later after many claims. Whatever reason is I recomend a good enviroment.Probably not your fault nor your brokers fault, but software fault.(just adding possibilities)
Usually with my broker, if the trade is far from the market it's cancelled automatically. Since they routed that order on ARCA and the bid was at $6.40 they told me that it was close enough.
close enough to what? it depends on the last trade. I think that 1000 share later busted trade is the cause of your problem.
never ever give that kind of advice without speaking to experts. you don't chuck it without speaking to arbitration lawyers or regulatory people. play hardball with these people.
the brokerage firm in question is a very big and reputable firm. it is licensed in 39 states in the US and subject to SEC oversight. every firm has misinformed idiots, bluffers and liars. just keep on pursuing until you reach your goal.
I wrote to ARCA explaining the problem. I feel that my broker didn't do everything that could have been done to cancel that order. I may be wrong but I'm under the impression that I could have better arguments to convince them to do something. It's probbaly more difficult to say no to someone who can't afford to lose that money. I understand that the rules are the rules but we are all human beings with emotions. I believe in empathy.
forget about empathy. it doesn't lead to action. my guess is that the rules will work in your favor in this situation once they understand that you know the situation in and out.
It would be helpful to know what the best bid was at the time your order was submitted. Are you sure it was not $8.85? I see bids and offers like that all the time (that are 1 digit off the real last official price), trying to entice people into seeing what it is not really there. Why would your broker submit your order at $8.85 unless that happened to be the best bid at the time? I don't want to accuse you of making a mistake you didn't make, but there is no reason to think that any software on Earth would modify the price of a limit order from $18.85 to $8.85. There has got to be a better explanation than the one you have presented so far.