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Zerodha GTT Order (GTC Equivalent) Explained

Published on Thursday, July 25, 2019 by Chittorgarh.com Team | Modified on Thursday, April 8, 2021

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Zerodha GTT Order (GTC Equivalent) Explained

Good Till Triggered (GTT) allows you to place an order to be sent to the exchange only when the price condition gets met. GTT is a feature introduced by Zerodha to offer a similar service like 'Good Till Cancelled' (GTC) order offered by most full-service brokers in India.

What is GTT in Zerodha?

GTT in Zerodha means the facility offered by Zerodha to apply Good Till Triggered orders for buy or sell transactions. The orders placed under GTT get executed anytime within one year when the set price gets hit. GTT is available for both buy and sell orders and can be canceled at any time. The GTT feature is very helpful for traders who are unable to constantly monitor their stock market investments. Such traders can set a price for their stock under GTT that will get automatically executed when the price is reached.

Zerodha GTT example

For example, say SBI is currently traded at Rs 186 but you want to buy it for Rs 175. In such a case, you can place a GTT order for SBI and set the price as Rs 175. The order will remain active until the price reaches Rs 175 or 1 year. If the price of SBI shares reaches Rs 175 within a year, then your buy order gets automatically executed. If the price doesn't reach Rs 175 within a year, then your order gets cancelled.

You can also set your GTT trigger price at any desired percentage points away from the Last Trading Price of the share. Continuing our SBI share example, you can set -5% for shares LTP at Rs 186. The order will be executed at (186.0-9.3) = Rs 176.70

Why Zerodha doesn't offer GTC orders?

GTC orders are valid until they are cancelled. These orders are useful for investors who do not track the market daily. With the GTC order, you could simply place an order with the target price and let it be there forever. When the price matches, the order gets executed.

For example, you want to buy Wipro Technologies shares at Rs 200. One option you have is to place a Limit order every day at Rs 200. With the GTC feature, you can place this order once and forget it. Whenever the price reaches, the order will get executed.

Stock exchanges in India don't support GTC orders. For this reason, a broker offering a GTC order has to place the pending GTC orders to the exchange every day in the morning. The orders that do not get executed get cancelled at the end of the day. The placing of pending GTC orders everyday causes technical challenges and increases the cost for the broker as they have a limit of placing 400 messages per second per line.

Zerodha introduced GTT orders on 26th July 2019 for equity delivery traders (CNC orders). It's an excellent substitute for GTC orders which is a very critical trading feature for passive stock market investors.

While this has similarities with GTC orders, they are not as convenient as GTC. There are many things to keep in mind while placing GTT orders with Zerodha. Please read the Zerodha GTT limit section below for more detail.

GTT options Zerodha

Zerodha offers to place a GTT buy or GTT sell order using a Single trigger or OCO (One Cancels the other).

  1. Single Trigger - In the Single trigger type, you need to set the trigger price and input the order price for the required quantity. The single order gets placed to the exchange as soon as the trigger price gets hit. The single trigger type gets generally used to enter new positions.
  2. OCO Trigger - OCO stands for One cancels the other. In the OCO trigger type, you need to set the stop-loss and the target trigger price or %. The OCO gets placed with exchange whenever either of the trigger condition gets hit. As the name suggests, when one order gets placed with exchange based on one trigger condition, the other trigger gets auto-canceled. The OCO trigger type gets generally used when you have a target to exit from the existing positions by limiting the losses.

GTT Zerodha Demo

 

Zerodha GTT / GTC Order Demo in Kite Web

 

Zerodha GTT Pricing

The GTT orders are offered free of charge. There are no Zerodha GTT charges or Zerodha GTT fees for using the GTT feature in Zerodha.

Zerodha GTT Validity

A Zerodha GTT order remains valid for one year from the date of order placement.

The GTT trigger once hit gets deactivated irrespective of whether the order gets executed or not. In such a case, you need to place the GTT order again as the order gets expired and becomes invalid.

Zerodha GTT Limit

There are certain GTT limits in Zerodha that each investor should be aware of.

  • The Zerodha Kite Mobile Trading app has a GTT facility only for stocks for delivery trading. The GTT feature to include Nifty and Bank Nifty futures and options is not yet made available for the mobile version.
  • If you place a sell GTT on your securities held in your Demat account then you need to authorize the delivery using CDSL TPIN. The validity of authorization is only for 90 days. This is not required if you've submitted a POA.
  • GTT orders are allowed to be placed only during market hours.
  • The order is sent to the exchange only when the price reaches the trigger price set. This is unlike GTC where all orders are sent to exchange everyday morning.
  • If the trigger price reaches, Zerodha places the order to exchange and removes the order from the GTT queue at Zerodha. In case the order gets canceled for some reason, you will have to place the GTT order again manually.
  • GTT orders are to be placed online. They cannot be placed over the call.
  • Maximum 50 active GTT orders are permitted per customer.
  • Active GTT orders will be in the system for a maximum of 1 year.
  • The GTT order gets automatically canceled when there are corporate actions like a bonus, dividend (if greater than 5% of market value), stock split, etc.,
  • GTT orders are to be self-managed by the investors. No dealing desk support is offered for GTT orders.

How to do GTT in Zerodha?

Zerodha offers to use the GTT feature through the Kite web and the mobile app.

Steps to Place GTT Orders with Zerodha

  1. Log in to Zerodha Kite Web/mobile app.

     

    Zerodha GTT Order Explained

     

  2. Choose the stock on which GTT is to be applied.
  3. On the Kite web, the 'Create GTT' option is available under '…' as displayed above. On the mobile app, the Create GTT option is available above the market depth window.
  4. Click on Create GTT.
  5. Fill the order form as below:

     

    Zerodha Place GTT Order in Kite Web

     

  6. To view the status or add/update GTT order, Go to 'orders' page and click the GTT tab.

     

    Zerodha Manage GTT Order in Kite Web

     

Zerodha GTT Order Advantages

  • Orders placed are valid for a year.
  • It's a free service by Zerodha.
  • Orders get executed only when the trigger price is reached.
  • Similar to GTC orders offered by full-service brokers like ICICI.
  • No need to place an order every day if you have a buy/sell price at which you want to enter/exit.

Zerodha GTT Order Disadvantages

  • GTT is only available in Equity Delivery (Cash and Carry) trades and Nifty and Bank Nifty F&O.
  • GTT order can be placed only in the market hours. This is unlike GTC orders which can be placed at any time of the day. This feature is important for NRI customers.
  • Once triggered, the order gets removed from the GTT queue irrespective the order got executed or not.
  • Maximum 50 GTT orders per customer
  • Call and trade feature not allowed for GTT users.

Conclusion

Zerodha GTT order is an excellent offering for passive stock market investors. It still has a long way to go to meet the comfort of GTC orders which most investors find very convenient. Zerodha should look to add more features to bring it at par with GTC.


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Frequently Asked Questions

  1. 1. Can I place Zerodha GTT orders after market hours?

    No, GTT orders can be placed only in the market houses.

    This is unlike GTC orders (Good till Canceled) offered by full-service brokers like ICICI. GTC order can be placed at any point in time. This is a key feature for NRI investors.

     

  2. 2. What is meant by GTT in Zerodha?

    Good Till Triggered or GTT is an order which is active till the set price is reached. It is valid for one year. The order gets automatically executed by the system when the set price by the trader is reached. The GTT orders are good at minimizing losses or to book profits when you are not actively tracking the markets.

     

  3. 3. How to place GTT order in Zerodha app?

    Zerodha offers to place either GTT buy or sell orders through the Zerodha app only for stocks for delivery-based trading.

    The GTT features to include Nifty and Bank Nifty futures and options are yet to be launched in Mobile App and are available only on the Zerodha Kite web.

    Steps to place GTT order in Zerodha app:

    1. Login to Zerodha Kite app.
    2. Click on any scrip on which you want to apply GTT.
    3. Click on Create GTT option displayed just above the Market Depth window.
    4. Select the transaction type as Buy or Sell.
    5. Select trigger type as Single or OCO (One Cancels Other)
    6. Set your GTT trigger price either by using percentages or define a trigger price. 
    7. Enter the Quantity and the Order Price.
    8. Click to accept the terms and conditions.
    9. Swipe the Create option button.

    Note: In the case of OCO trigger type, you need to input the stop loss as well as the target trigger price and order price.

     

  4. 4. How do I place Zerodha GTC order in Kite?

    Zerodha doesn't provide Good Till Cancelled (GTC) Orders. Instead of GTC, it provides Good Till Triggered (GTT) Orders. GTT orders are available in Zerodha Kite Web only.

    In GTT order you specify 2 prices; a trigger price and the order price. The order is placed to the exchange when the trigger price is reached. The order remains with the exchange for a day and gets executed when the stock price matches the order price. If the doesn't get executed in a day, the order gets canceled at the exchange as well as removed from GTT queue at Zerodha.

    Note: GTT orders are available in Zerodha Kite Web for stocks (delivery trading) and Nifty and Bank Nifty F&O. The Zerodha Kite Mobile version currently only has the GTT order facility for stocks.

    Example:

    • Stock: Infy
    • Current Price: Rs 785.75
    • GTT Trigger Price: Rs 701
    • GTT Order Price: Rs 700
    • GTT Order Quantity: 100 Shares

    Scenario 1: After 10 days from placing the order, Infy share price reached to Rs 701. Zerodha will now place the order to the exchange. If the price reaches Rs 700, the order will get executed.

    Scenario 2: In Scenario 1, if the price didn't reach Rs 700, the order will be canceled at the exchange by end of the day. The GTT order will also be removed from Zerodha GTT pending order list. This is unlike GTC where order remains in the system until it executed.

    Scenario 3: If the share price doesn't reach the trigger price for 1 year, the order will be removed from the GTT Pending Order queue.

    Scenario 4: If corporate actions like a bonus, dividend (if greater than 5% of market value), stock split, etc. are announced for Infosys, the GTT order will be removed for the GTT Pending Order queue.

     

  5. 5. Is there any charge for GTT in Zerodha?

    No, there are no charges for using the GTT feature in Zerodha.

    Zerodha is currently offering to use the GTT feature free of cost to its customers but may start pricing and decide Zerodha GTT brokerage in the future at any time at its sole discretion.

     

  6. 6. Is GTT in Zerodha free?

    Yes, GTT in Zerodha is currently free. There is no GTT Zerodha pricing as of yet.

    Zerodha had introduced the GTT feature as a free service as an introductory offer and had planned to charge after 3 months. However, Zerodha is still offering the GTT service free of cost.

    Zerodha may start charging for GTT any time in the future at its sole discretion with due notification.

     

  7. 7. How to apply GTT in Zerodha?

    You can apply GTT on buy or sell orders in Zerodha either through the Kite web or Kite mobile app.

    To apply GTT on the Kite web, click on the three dots displayed on the left side window. You will see an option to Create GTT in the dropdown list.

    On the Kite mobile app, click on any scrip on which you want to apply GTT and click on Create GTT option available on the right just above the Market Depth.

    The GTT feature in Zerodha is only for Equity Delivery trades (CNC orders) and Nifty and Bank Nifty futures and options (NRML orders). The GTT feature for Nifty and Bank Nifty F&O is currently available only on the Kite web.

     

  8. 8. How to put GTT in Zerodha?

    You can put GTT in Zerodha for placing a buy or sell order using the Create GTT option.

    To put the GTT order in Zerodha, you need to set the trigger price and the price at which you want the order to get executed. You also have an option to set a target price and stop loss.

    Once the trigger price is hit, the order gets placed with the exchange. The order execution depends on the price match for the set order price. In case you want the order to get immediately executed, you have an option to change the limit order to market order.

     

  9. 9. Can we cancel GTT in Zerodha?

    Yes, you can cancel the GTT order in Zerodha at any time before the order gets executed.

    You can remove or delete the order completely before the trigger condition gets fulfilled. Once the trigger condition hits, you have an option to modify or cancel the order before its execution from the Pending order screen.

     

  10. 10. How to cancel GTT in Zerodha?

    The GTT orders in Zerodha can be canceled any time before they get executed. 

    You have an option to delete the order before the set trigger condition gets hit. Once the trigger gets hit, you have an option to cancel the order.

    Steps to cancel GTT orders in Zerodha:

    1. Go to the GTT tab of the Order Book. The GTT tab displays all orders for which the trigger is not hit.
    2. Select the order you want to cancel. 
    3. Click on the Delete button to remove the order from the GTT tab.
    4. If the trigger gets hit, the order moves to the Pending order window.
    5. Click the GTT order you want to cancel.
    6. Click on the Cancel button to cancel the GTT order.

     

  11. 11. How to delete GTT in Zerodha?

    You can delete the GTT orders in Zerodha only before the trigger gets hit.

    Once the trigger condition gets hit, you cannot delete an order. You can only cancel the order.

    Steps to delete the GTT order in Zerodha:

    1. Go to the GTT tab of your order book.
    2. Select the order to be deleted.
    3. Click on the Delete button to remove the order from the queue.

     

  12. 12. How to cancel triggered GTT in Zerodha?

    A triggered GTT order can be canceled from the Pending Orders before it gets executed.

    Once the trigger condition gets hit, the status of such GTT order under GTT tab gets updated to 'Triggered' and moves to the Pending order tab.

    To cancel these triggered orders, go to the Pending order window and select the desired order. Click on Cancel to cancel the desired order.

     

  13. 13. How to check GTT in Zerodha?

    You can check the GTT orders in Zerodha under the Orderbook.

    There is a separate tab for GTT orders with the name GTT. You can check the status of your GTT orders from that screen.

     

  14. 14. How to see GTT in Zerodha?

    The GTT orders in Zerodha are visible under the GTT tab of the order book. There is a separate tab called GTT where you can see all the orders placed using the GTT feature. the order status can be either Active or Triggered.

    The Active status means the trigger is not yet hit.

    The Triggered status signifies that the trigger is hit and the order gets placed to exchange. The GTT triggered order may or may not get executed based on the order price set. 

     

  15. 15. How to create GTT in Zerodha?

    You can create GTT in Zerodha for placing a buy or sell order using the Create GTT option.

    Steps to create GTT in Zerodha:

    1. Select the scrip on which GTT is to be applied.
    2. Click on Create GTT option.
    3. Set the transaction type - Buy or Sell
    4. Set the trigger price either by putting the actual price or by using a percentage.
    5. Select the trigger type as Single or OCO.
    6. In the case of OCO, input the Stoploss as well as the Target price and limits.
    7. Accept the terms and conditions.
    8. Click on Create GTT order.

     

  16. 16. How GTT works in Zerodha?

    The GTT order in Zerodha works based on the trigger and the order price set.

    Until the trigger price gets hit, the order remains valid for one year from the date of order placement. Once the trigger gets hit, the order gets placed with the exchange. The execution of the order depends on the price match with the set order price.

    Zerodha offers to place GTT buy or sell order as Single order or OCO.

    In Single order, you need to set one trigger price and the order price for the required quantity. The single trigger order gets placed with the exchange once the trigger price matches.

    In OCO (One cancels the other), you need to set a stop-loss and target trigger price or %. Once either of the trigger condition hits, the order gets placed with the exchange canceling the other trigger.

    There is no requirement of any margins at the time of GTT order placement. However, once the trigger matches, you need to have sufficient margin or stock in your account as the case be failing which the Zerodha GTT order gets rejected.

     

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11 Comments

11. Rupendra  Jun 21, 2021 11:21 I Like It. | Report Abuse Reply
Hi,
Bank nifty option Sell order GTT created by mistake. GTT was also triggered once...order status is showing placed ...now tab is showing in blur....how I can delete this GTT.
10. Errol  Apr 12, 2021 09:53 I Like It. | Report Abuse Reply
GTT order for sell has not been working for the past 4 days now even though the TPIN has been activated every time.
Is it because the trial period has expired for GTT since I opened the Zerodha account?
If so how do I reactivate this facility and what are the charges please?
9. akbar  Mar 26, 2021 21:52 I Like It. | Report Abuse Reply
GTT work in pre open market rate. incident happen with me i purcahse nifty bees 157 and i put GTT sell for 165 Next day market open at 176 but still my GTT is Active not triggered
8. Ajit Yuvraj Jadhav  Feb 27, 2021 14:32 I Like It. | Report Abuse Reply
I have to place Buy GTT order above current price And at the same time I have to place Sell GTT order above Buying price as per my required profit. Is it work in Delivery?
7. Manoj  Jul 21, 2020 10:13 I Like It. | Report Abuse Reply
GTT is showing as Triggered, and meanwhile Rejection reason shows as "10 quantity needs authorisation at the depository." I logged into Zerodha mobile App.
Is it triggered and it will be completed ? Is my order not rejected ?
7.1. Irkar AS  Dec 21, 2020 10:58 I Like It. | Report Abuse
GTT SHOWING AS TRIGGERED BUT IT ALSO SHOWS ORDER REJECTED "NEEDS ATHORISATION AT THE DEPOSITORY"
6. Venkat  Oct 11, 2020 21:47 I Like It. | Report Abuse Reply
What will be the minimum or mandatory difference between LTP & stoploss or target?
5. vishnu  Jun 24, 2020 07:33 I Like It. | Report Abuse Reply
what are charges for place the GTT currently
5.1. Team Chittorgarh.com  Jun 28, 2020 09:37 I Like It. | Report Abuse
Zerodha doesn't charge any fee for GTT orders.

You just have to pay for brokerage and taxes when your buy or sell GTT order gets executed. The brokerage is free for equity delivery trades and max Rs 20 per executed order for intraday and F&O trades.
4. Ganesh Pathade  Jun 9, 2020 19:48 I Like It. | Report Abuse Reply
I have make gtt for sale. But make errors 19quantities needs authorization at the depository.means what
4.1. PJ  Jun 25, 2020 12:07 I Like It. | Report Abuse
YOU have to authorised you stock using TPIN
4.2. Team Chittorgarh.com  Jun 28, 2020 09:36 I Like It. | Report Abuse
Dear Sir,
The Zerodha TPIN concept is explained here:

https://www.chittorgarh.com/article/zerodha-cdsl-tpin-pre-authorise-sell-from-demat/473/

Note: Your TPIN authorization is valid for 90 days.
3. Poonam  Mar 4, 2020 09:52 I Like It. | Report Abuse Reply
Hi - i have invested with a long time view and had created sell GTT with certain price. I was not fully aware of the feature and i am still not. Now when market is falling so badly i am afraid that it may trigger, though i changed GTT few times to further lower value. Would like to know how can i completely remove GTT from my holdings.
Please guide. Thank you
3.1. Team Chittorgarh.com  May 26, 2020 15:54 I Like It. | Report Abuse
Dear Poonam,

You could cancel your GTT order just like you cancel any other order. Once canceled, the order will be removed from the queue.
2. Swapnil  May 26, 2020 14:57 I Like It. | Report Abuse Reply
Do we need to have amount in zerodha to create gtt order..eg if I want to buy a share at RS 100 of 10 quantity and create gtt for the same, but I don't have enough cash in zerdha account. So will my order execute
2.1. Team Chittorgarh.com  May 26, 2020 15:51 I Like It. | Report Abuse
Dear Mr. Swapnil,
You don't need funds in the account while creating GTT but you need them when the order gets executed.

Zerodha checks funds in your account when the GTT trigger price arrives and Zerodha sends your order to the exchange. If you don't have enough funds in your trading account at that time, your GTT order is canceled.

1. Deepa  Dec 18, 2019 11:19 I Like It. | Report Abuse Reply
After GTT order is placed by customer, What happens if one delete the GTT order.?
1.1. Team Chittorgarh.com  Jan 10, 2020 14:30 I Like It. | Report Abuse
Hi Deepa,
Once the GTT order is triggered or deleted, it is gone from the GTT order queue. You will have to create a new order altogether.

When the GTT order is triggered, the order is sent to the exchange and deleted from the GTT order queue. The order remains with an exchange for 1 trading day (same day). If it doesn't get executed, it is also get deleted from the exchange order list. In this case, you have to place a new GTT order.