tick order limits on IB

Hi all IB users,

I’m not using IB at the moment but I’m thinking about opening an account with them.

What bothers me with my current broker right now is the following limitation: when I place an order with a price limit, the second digit behind the comma can only be 0 or 5. So if I want to sell a stock trading at 2.33$, I can only place an order with price set at 2.30$ or 2.35$.

Does IB have the same limitation?


IB does not have this restriction, see attached trade from yesterday.

Florian, is this for all tickers or just some?
You have probably seen the comments about the SEC experiment for improving liquidity of some stocks by rounding to the nearest 5 cents.

I trade with Vanguard and it comes up from time to time with my lower liquidity stocks.

If you end up needing an active—up to date–list of stocks in the study here is a link. It took me a while to find this and I thought you might want to look at it. You can get the rest by Googling it and I agree with David.



Thanks guys! Very useful. Interestingly, KMG is also part of that list…