Although a Quick Trade is meant to execute instantly, there are a few reasons outlined below that will prevent a trade from executing.
If you have some open orders on Advanced Trade involving the currency you are attempting to convert through Quick Trade, you will receive an 'Insufficient Funds' error. To resolve this, you will need to first cancel your Open Order.
To cancel an Open Order, navigate to the Advanced Trade page of your account on desktop and scroll down to the Open Orders section. There you will find your pending orders and can cancel the one(s) affecting your Quick Trade conversion.
Pending Withdrawal Request
A requested withdrawal that has not yet been confirmed will sit in a pending state and hold the funds until the request is confirmed or cancelled. If you are trying to convert a currency through Quick Trade for which you also have a pending withdrawal request, you will receive an 'Insufficient Funds' error. To resolve this, you will need to cancel your withdrawal request and free up those funds to be traded.
To cancel a withdrawal request, navigate to the Withdrawal page of your account on desktop. From the left side, select the currency you had attempted to trade/withdraw. Scroll down and click on 'Withdrawal History.' You will be able to cancel any pending withdrawals there.
When sending digital currency to your account, the transaction must receive a certain number of confirmations before the balance is made available. If you attempt to convert the funds before the transaction has been confirmed and fully funded to your account, you will likely receive an error.
If you experience this error, wait a few minutes, and try your trade again.
A few things to keep in mind with Quick Trade are spread and liquidity. Since Coinsquare is an exchange, and not strictly buy or sell, liquidity affects how the trade will execute. A Quick Trade must execute in full, but if there is not liquidity to support the conversion, this can result in an error.
For larger amounts, we recommend using Advanced Trade, where you can set limit orders.