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A Bracket Order is an advance order type to help traders to limit the losses and increase chances of profitability. It's an order with an opposite-side order placed together (i.e. a buy order is bracketed by a high side sell limit order, and a low side sell stop order).
Bracket orders (BO) have a fixed stop-loss trailing order. To advance this further, some broker offers Bracket Order Trailing Stop-loss. This provides an ability to trail your stop-loss (dynamically). It means the stop-loss keeps moving based on the direction your stock or contract moves.
Bracket orders and cover orders are key risk management tools for a trader. A handful of stock brokers offer this order type to the traders.
| Broker | Category | Brokerage (Eq Intraday) | Active Clients | Request Callback | Review |
|---|---|---|---|---|---|
| 5paisa | Discount Broker | Rs 20 per executed order | 1,754,330 | Open Account  |  |
| Kotak Securities | Full Service Broker | Free | 1,256,001 | | |
| HDFC Securities | Full Service Broker | 0.05% | 1,141,264 | | |
| IIFL Securities | Full Service Broker | Rs 20 per order | 1,132,766 | Open Account | |
| Motilal Oswal | Full Service Broker | 0.05% (both side) | 896,851 | | |
| Sharekhan | Full Service Broker | 0.10% | 764,250 | Open Account | |
| Paytm Money | Discount Broker | Lower of 0.05% or Rs 10 per executed order | 404,376 | Open Account | |
| Alice Blue | Discount Broker | Rs 15 per order or 0.01% whichever is lower | 149,397 | Open Account | |
| Fyers | Discount Broker | Rs 20 per executed order or .03% whichever is lower | 124,152 | Open Account | |
| SAMCO | Discount Broker | Rs 20 per trade or 0.02% (whichever is lower) | 77,730 | Open Account | |
Read more about Bracket Order Explained with Example
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Aug 29, 2021 2:56:51 PM
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