Alpaca UI doesn't allow input of more than 2 decimal places for stocks below 1 dollar

Alpaca Trading
1

I believe this is a bug because when making orders via API, 4 decimal places are allowed for stocks under 1 dollar.

2

Hi @Vincent_Perkins able to share the request params of the call you made?

3

Hi Waimun, In this case, the API works perfectly fine. I should have been clear that this is just on the UI for the Alpaca | Crypto and Stock Trading API webpage. There, you cannot input greater than 2 decimal places regardless of stock price. Thanks!

4

Let me confirm with the Product team on this again.

5

Thank you, I appreciate it. This is the UI I am referring to:

alpaca_ui
alpaca_ui523×743 19.5 KB

6

In 2005, the Securities and Exchange Commission introduced Rule 612, also known as the Sub-Penny Rule. Rule 612 requires the minimum price increments for stocks over $1.00 to be $0.01 while stocks under $1.00 can be quoted in increments of $0.0001. So it should be legitimate to specify more digits?

7

Hi @dominicp @Vincent_Perkins

Yes, it should have been able to put 4 digit decimal.
You can place the order with 4 digit decimals via API, this issue is only in the UI.

Our frontend team is aware of the issue, and it’s on queue to be fixed.
Thank you

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