Why can't I sell SPY with a limit order?

Question

I just put in limit orders to sell some stocks I own. (Don't worry, I'm asking for high prices). It wouldn't let me do a limit order or SPY though. I though the whole purpose of an ETF is to be able to buy and sell it like a stock. What the heck?

Answer 1

I don't know which brokerage firm you are using.  I currently use Firstrade and I place limit orders on SPY all the time.  You should call up your broker and if you still experience problems, I suggest that you transfer brokers.

Answer 2

There is nothing peculiar about SPY that I'm aware of.  Some brokers have specific restrictions on some stocks. Though I wouldn't expect it on SPY.   You should call your broker and ask them what the problem is.