autronix autronix - 3 years ago 120
Java Question

Issues reading minTick from Interactive Brokers Java API

I am having some issues with Interactive Brokers API: when I request the contract details by using

m_controller.reqContractDetails(contract, t);

I receive the data; within it is contained the field minTick, which seems to consistently show 1.0E-4

When I transmit my orders by using the PlaceOrder method, I encounter the following error message when setting the price to a multiple of 0.0001:

110 The price does not conform to the minimum price variation for this contract.

I am unsure about what is causing this issue of whether I am using this value incorrectly.

Any help would be appreciated.

Thank you.

Answer Source

I got in touch with IB's tech support and this is what they had to say about the minTick property for a contract:

user: Hello, I'm trying to obtain the minimum price for a given stock but I am having some issues: when I obtain the data from reqContractDetails, I get consistently a minTick of 1.0E-4, but when I place an order with an increment of 0.0001, I get the error: The price does not conform to the minimum price variation for this contract.

user: I have verified this with stocks such as VLTC and PBMD

user: it only allows me to place an order with a price increment of 0.01, which is not consistent with minTick

IB Agent: The minimum price from contractDetails() is not a complete information.

IB Agent: Unfortunately, it won't provide more information

IB Agent: you need to examine the

IB Agent:

user: so there is no programmatic way to obtain the minimum tick price for a given stock

IB Agent: In using our API, no

IB Agent: is this US stocks?

user: yes

IB Agent: normally it is above $1, then the price increment is .01

In other words, minTick for the IB API is not a reliable way to know the min tick size for a given stock and some other way must be considered to perform this task.

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