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Brokers with Bracket Order

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.

Bracket Order Broker List

Broker	Category	Brokerage (Eq Intraday)	Active Clients	Request Callback
5paisa	Discount Broker	Rs 20 per executed order	1,652,702	Open Account
Kotak Securities	Full Service Broker	Free	1,267,424	Open Account
HDFC Securities	Full Service Broker	0.032%	1,173,032
IIFL Securities	Full Service Broker	Rs 20 per order	1,144,428	Open Account
Motilal Oswal	Full Service Broker	0.02%	930,588
Sharekhan	Full Service Broker	0.10%	766,848	Open Account
Paytm Money	Discount Broker	Rs 15 per executed order or 0.05% whichever is low	502,828	Open Account
Alice Blue	Discount Broker	Rs 15 per order or 0.01% whichever is lower	144,702	Open Account
Fyers	Discount Broker	Rs 20 per executed order or .03% whichever is lower	142,962	Open Account
Anand Rathi	Full Service Broker	0.03%	107,990	Open Account

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Bracket Order Advantages

Bracket Order has 3 orders placed from 1 screen - Entry, Target and Stop-loss order.
Bracket Orders are valid only for intraday trading. All Bracket order positions are squared off by end of the trading day.
The margin required for Bracket Order is half of normal MIS intraday trading orders.
Bracket Orders are available only for Equity and Currency. They are not available for Commodity Trading at MCX.

Disadvantages of Bracket Order

Not available for trading in Stock Options, Currency options, and Commodity options.
In the case of flat rate brokers like Zerodha and Upstox, the brokerage charges in a bracket order are unpredictable. If the entry price of some of these shares is slightly different in order, the system creates separate target and stop-loss orders for each price.

Cover Order vs Bracket Order

Each bracket order is a set of 3 orders (Entry, Target, and Stop-loss). Each cover order is a set of 2 orders (Entry and Stop-loss).
Both offers equally higher leverage.

Read more about Bracket Order Explained with Example

8 Comments

8. Sushil Kumar

| Link|Aug 19, 2022 8:37:24 PMReply

Which broker provided BO order in AMO/PMO and GTT.

7. Alok

| Link|Aug 22, 2021 2:54:13 AMReply

Which broker currently allows bracket order.As Zerodha doesn’t

7.1. ashutosh

| Link|Jul 29, 2022 10:00:25 PM

alice blue

6. Chirag

| Link|Aug 29, 2021 3:56:51 PMReply

For Stock options (derivatives) trading , Does any broker allows CO or BO ??

6.1. rakesh

| Link|Apr 28, 2022 4:35:20 PM

SAS Online

5. Md Raju

| Link|Dec 24, 2021 9:40:35 PMReply

Is there any company providing trailling stop loss in options trading

5.1. rakesh

| Link|Apr 28, 2022 4:34:36 PM

SAS Online has bracket order with trailing SL for Options.

4. Hemant

| Link|Feb 22, 2022 11:01:54 AMReply

If there is no bracket and cover order in NSE OPTIONS, then it clearly shows ll brokers are there just to loot traders and deceive traders.

3. Mugen

| Link|May 10, 2021 12:40:21 PMReply

Zerodha sux big time. These MCs have removed the bracket order so that retail traders waste their money and they can make all the money via brokerage. They can easily be sued with a class action lawsuit for this malpractice.

3.1. Nilaykumar

| Link|Jan 8, 2022 8:25:39 PM

True , they are planned to not profit retailer , Making it tough so we loose our money and big trader become rich easily

2. Puneet

| Link|Oct 29, 2020 9:19:41 AMReply

Any broker offering Bracket order after the market closes?

2.1. Chetan

| Link|Aug 15, 2021 2:00:23 PM

You can place bracket orders for Intraday as well as delivery after market with
Sharekhan.

1. Surendrakumar Sadashiv Shete

| Link|Jun 2, 2021 11:43:51 PMReply

Nice

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