Broker server throws this error when it receives an invalid order. Some of the common causes are:
- Incorrect stock/derivative symbol being passed
- Intraday order was placed outside the allowed intraday hours
- User placing AMO (After Market Order) in live market hours
- Entering MARKET or SL_MARKET orders for options when they are blocked by your broker (mostly seen in F&O)
- Invalid quantity
- Quantity zero or not in multiples of derivative lot size
- Example, lot size for NIFTY is 75, so to buy two lots of NIFTY future, you must enter 150.
- Quantity more then available holdings
- If you are selling a stock in DELIVERY mode & your account does have sufficient quantity of the stock
- Quantity higher than the quantity freeze limit for the stock or derivative
- Quantity zero or not in multiples of derivative lot size
- Invalid disclosed quantity
- Disclosed quantity is higher than quantity
- NSE/BSE (Equity) = Disclosed quantity cannot be less than 10% of your order
- NSE (CDS) = Disclosed quantity cannot be less than 10% of your order.
- NSE/BSE (F&O) = There is no disclosed quantity option
- MCX (Commodity) = Disclosed quantity cannot be less than 25% of your order
- Invalid product type:
- NORMAL product type is not supported for stocks
- Invalid price
- Price outside the circuit limits
- Price not in multiples of tick size. If tick size is 0.05, then prices like 10.55, 10.60 are valid but 10.78, 220.11 are invalid. Zero price is only valid for market orders, for all other order types price must be non-zero.
- Price out of range: Price too far away from live price
- Invalid target & stoploss in case of Bracket Order
- If you pass zero for target or stoploss
- Every stock has specific max target & stoploss range defined by the stock broker
- Stoploss order – Invalid trigger price (trigger already hit): If trigger price is higher than live price (for a sell stoploss order) or trigger price is lower than live price (for a buy stoploss order)
- Stoploss order – Invalid price: Price lower than trigger price for a buy stoploss order or Price higher than trigger price for a sell stoploss order
- Incorrect Product Type: An intraday order for a stock that has been banned for intraday trading
- Invalid segment – If you try to trade in a segment that is not enabled in your account. Example, if NFO is disabled by your stock broker for your trading account; then you will get an error if you place an order for NSE F&O contracts.
- Any other order parameters that can cause order to fail validation checks
Solution
- Go to orders tab & look for Status Msg column for the rejected order. This column displays the order rejection reason given by your broker.
- The best way to verify is to manually place exactly same order on your trading platform
- Note: Some scenarios like invalid trigger price etc. depend on live stock price. A user must also take into account the live price is the stock when the order reached the exchange. If you are trying to replicate the error then modify your trigger price/price accordingly.
- Please verify & correct your order details. Complete order details can be checked at Orders page