Experiencing Errors When Trying to Sell FXAIX Shares
Here’s a summary of the main problem and solutions discussed in the conversation:
- Main Problem: The user, ElinaTheHangryGirl, is encountering an error when trying to sell shares, indicating that the number of shares entered exceeds those available in her account.
- Solution Suggestion: Noah Werden recommends calling Fidelity directly, as they can assist with the sale, especially if the app is malfunctioning.
- Additional Insight: Fidelity staff suggests checking if the shares were recently transferred to the account, which may require an overnight cycle to complete. They also advise ensuring that the trade is made using the correct trade type (Margin or Cash).
- Instructions Provided: Fidelity outlines the steps to change the trade type in the order ticket, emphasizing the importance of matching the trade type with how the shares are held.
Here’s the full thread
Whenever I go to sell from both share and amount side it pops up with an error (picture is in investing)
Hey, hey, @ElinaTheHangryGirl. We’re happy to help.
To do so, can you please share more details about the error message you’re receiving?
I would but it wont allow me to attach a image
(021978) The number of shares you entered is greater than the number of shares available in your account or trade type (cash or margin) specified in your order. Please review your account positions to verify the correct trade type (Margin or Cash) for this security. Also, please verify there are no previous orders for this security that would prevent Fidelity from accepting a new order.
I recommend calling fidelity, they can sell for you. A lot of times the app is terrible
What time do they close
I know the markets close at 4:00/4:30
You can call anytime I think and place an order to sell tomorrow afternoon
Remember it’s probably best to hold tho…
Yeah i know moneys js a bit tight right now so 😔
Remember after selling tomorrow, you still might have to wait a few days for the money to settle
Never invest money you can’t afford to lose
Yeah thats what i thought every little bit helps tho.
👍
Good luck
I was doing it in very small increments so it always adds up more and more as u go on
If you plan on needing your money soon, it might be better to go with a HYSA or a money market like SPAXX
Whats the difference in spaxx and fxiax
🤦 SPAXX is a money market, you can put it whatever money you want, and take it out whenever you want. At the end of the month you will receive some money in your account. This can be withdrawn immediately and has almost no risk. However, you only will get about 4.5% a year (check current number before investing, the number changes weekly) compared to an average of like 10% with FXAIX. FXAIX is a mutual fund so there is way more risk, and transactions can only happen once a day (around 5 PM) and the money must settle.
Basically, FXAIX is part of the stock market and SPAXX is just a plan to get a smaller amount of money regularly.
It looks like it sold at some point
Did you recently transfer shares over to Fidelity? If so, what is most likely happening here is that while you see the shares within your account, they most likely need an overnight cycle to complete the transfer process. You can see where you are in the transfer process using our universal tracker. I’ve linked the tool below.
Status Tracker (Login Required): https://digital.fidelity.com/prgw/digital/login/full-page?AuthRedUrl=https://digital.fidelity.com/ftgw/digital/universal-tracker
Something else that could be happening is that the trade needs to be made in the correct trade type. If you have a margin account, mutual funds owned longer than 30 days will automatically move into type Margin. You can view what Trade Type your shares are held in easily by going to the positions tab. Type Margin positions will be labeled with an “M.”
If that’s the case, the trade to sell the shares needs to be placed in the same trade type. You can change the trade type on an order ticket by following these steps after logging in to our website:
1. Click “Accounts & Trade,” and select “Trade”
2. Choose the desired account and fill out the required fields
3. Change the “Trade Type”
Learn more about Margin here: https://www.fidelity.com/trading/faqs-margin
Please take some time to review the resources, and if you have additional questions, we are always around to help out! 🟢