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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 -

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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?

UPDATE:
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.

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  • You can buy and sell both puts and calls - so are you saying you can buy calls but can't buy puts? Or are you actually trying to sell one or the other?
    – D Stanley
    Commented May 4, 2020 at 15:37
  • There's no valid reason that I know of that would halt the buying of one type of option and not the other. There are reasons for limited trading (insufficient funds, broker account safety limits, lack of appropriate option approval level, etc.) but these are personal not exchange related.
    – Bob Baerker
    Commented May 4, 2020 at 15:40
  • @DStanley, yes - I can buy PUT but can't buy CALL
    – Vandesh
    Commented May 4, 2020 at 16:02
  • @Bob Baerker Of it was something related to my account, I shouldn't have been able to place PUT orders as well, doesn't make sense :/
    – Vandesh
    Commented May 4, 2020 at 16:04
  • You should call your broker to ask.
    – Flux
    Commented May 5, 2020 at 2:51

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Not familiar with IQ option, but looks like they are just offering synthetic calls and puts on the underlying and behaving like a bookmaker does on sports events.

Guessing that as they can't currently can't hedge WTI very cleanly or move the price like a bookmaker does when they get very lopsided action they are being forced to block action in one way or they will exceed their risk limits as all their customers are piling into one direction on this product.

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