Why Has My Buy Order Cancelled?
When you create a buy order, sometimes the order may not complete and you will see that the transaction that has 'cancelled' status on your transactions page.
There are a few reasons that this may occur:
Price Protection is a feature that helps to protect our members against unexpected market movement. If the market rate of the selected digital currency has changed by 2% or more (up or down) between the time of creating the buy order and the time that it is received and processed by our system, then the funds will be returned to your Cointree account as AUD.
This allows our members to assess the market conditions and better decide when to go ahead with the purchase.
Fill-or-Kill (FOK) is a term used to describe buy and sell orders. When you place a trade at a quoted price, the platform will attempt to complete the trade, however, due to the volatility of the crypto market this may either be Filled or Killed. If the trade isn't able to be completed, you will see a cancelled status.
We strive to reduce and minimize the likelihood of trades not completing as much as possible and will continue to do so.
If the trade is not completed and has a cancelled status, your original balance will be returned to your account and you will be able to re-try the transaction.
If you have any further questions about buys, please feel free to contact our support team.