Difference between Bracket and Cover Order | 5paisa

What are bracket, cover and makret order and how to place the order for the same?

Bracket Order
5paisa provides bracket order wherein customer can take an intraday position and take an advantage of extra exposure while being protected through stop loss order and a profit objective.

To place an order, please follow the below path:

Website Platform:
Login to www.5paisa.com >> Click on Scrip >> Click on Buy/Sell >> Advance Buy/Sell >> In Order Type, Select Bracket Order

Mobile Platform:
Login to our 5paisa Mobile App >> Click on Scrip >> Click on Buy/Sell >> Advanced >> In Order Type, Select Bracket Order

Cover Order
A cover order is a two legged order in which an initial market order is placed along with a stop loss order. This feature allows the customer to reduce the risk of losses arising due to market volatility. In cover order, the first buy/sell order is always a market order which is clubbed with a compulsory stop loss order within a system defined specified range. Individual leg of these orders alone cannot be cancelled.
 
To place an order, follow the below path:

Website Platform:
Login to www.5paisa.com >> Click on Scrip >> Click on Buy/Sell >> Advance Buy/Sell >> In Order Type, Select Cover Order

Mobile Platform:
Login to our 5paisa Mobile App >> Click on Scrip >> Click on Buy/Sell >> Advanced >> In Order Type, Select Cover Order
 
To know more about how to use buy, sell bracket and cover order, refer the below link illustrated with an example:
https://www.youtube.com/watch?v=mFwccnc82K0

* Please note that once the profit/stop loss order is executed, the system would trigger a cancellation request for the remaining order which might take a duration of maximum 10 seconds for execution. We request you to kindly maintain sufficient price difference between both the prices especially while trading in highly volatile scrips to avoid the execution of both the orders simultaneously. Any loss arising due to execution of such order shall be borne by the customer and 5paisa shall not be liable for the same.

Market Order 
A market order will be executed promptly, subject to availability of orders on the opposite side, without regard to price and that, while the customer may receive a prompt execution of a “market” order, the execution may be at available prices of outstanding orders, which satisfy the order quantity, on price time priority. It may be understood that these prices may be significantly different from the last traded price or the best price in that security / derivatives contract.
 
Website Platform:
Login to www.5paisa.com >> Click on Scrip >> Click on Buy/Sell >> Advance Buy/Sell >> In Order Type, Select Market Order
 
Mobile Platform:
Login to our 5paisa Mobile App >> Click on Scrip >> Click on Buy/Sell >> Advanced >> In Order Type, Select Market Order
 
*Please note that while placing “Market Orders” the last traded prices are captured in the “Order Column”. To determine the price at which the trades are executed the customers are advised refer to the “Trade Column” as the market price of any particular scrip can change within a fraction of seconds. 


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