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Dealing with fixed priced bid/ask increments

In my live trading my algorithm has purchased a stock with a 5 cent increment requirement, then I was stuck with the stock because my algorithm had no way of determining that there was a 5 cent increment rule on the pricing.  I had to sell it manually.  Has anyone found a way to deal with this?

Paul

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What is the stock?
We have a fixed value for minimum price increments for each asset and all US equity has a value of $0.01.
If there is a case where minimum price increments of a US equity is not $0.01 or vary according to the current price, we should look into it. 
Once Stefano Raggi pointed out that this happens in Italian Stock Exchange (link).

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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


I believe it was WBKC.  Although, I have had this several times before using other platforms.

 

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Looking at WBKC daily data, we can see that it trades at $0.01 increments. On the other hand, the volume is ridiculously low (most of the days is it trades less than 1000 shares). Probably the $0.05 increment is just the the bid/ask spread.
However, you should be able to trade it with market orders. Is that the case? 

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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


Regarding the above statement I know some smaller stocks have been put on $.05 increments as part of a test plan by the NYSE. https://www.nyse.com/tick-pilot

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I'm actually fairly new to trading stocks directly, althought I was advisor for 7 years.  I've updated my alogrithm to focus on stocks with more volume.  I think it may alleviate this issue for me.

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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


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