I am new to trading and probably don't understand as well how the market works at certain limits.
I was trying to trade on IQ Option on a commodity (Oil WTI) to place a buy order, but it failed giving me the following error -
Whereas, if I try to place a Sell order, it succeeds.
I want to understand how is this possible? Are there valid conditions at which you can trade only one way and what are such conditions? Isn't it a sort of manipulation?
The answer probided by the broker was this -
If traders have already invested a large amount in the asset you have selected, the amount you invest is limited by this exposure limit. It can work for buy or sell positions simultaneously or only 1 direction, which is the case now with Crude Oil. Sorry if you face any inconveniences due to that! But these are trading conditions which we can offer in the current market situation.
I still fail to understand this situation.