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Brokers with Bracket Order

Brokers with Bracket Order and Cover 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 Review Compare
Kotak SecuritiesFull Service BrokerFree1,382,036Open Account Kotak Securities Review
HDFC SecuritiesFull Service Broker0.032%1,244,723HDFC Securities Review
Motilal OswalFull Service BrokerRs 0 (Free for lifetime)958,025Open Account Motilal Oswal Review
DhanDiscount BrokerRs 20 or 0.03% of trade value, whichever is lower739,810Dhan Review
Paytm MoneyDiscount BrokerRs 20 per executed order or 0.05% whichever is low735,825Open Account Paytm Money Review
SharekhanFull Service Broker0.02% on market rate or minimum 1 paisa per share690,766Sharekhan Review
5paisaDiscount BrokerRs 20 per executed order526,773Open Account 5paisa Review
FyersDiscount Broker0.03% or Rs 20, whichever is lower240,489Open Account Fyers Review
Alice BlueDiscount BrokerRs 20 per order or 0.05% whichever is lower161,168Open Account Alice Blue Review
Anand RathiFull Service Broker0.02%139,339Anand Rathi Review

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


18 Comments

18. Rajani kant   I Like It. |Report Abuse|  Link|April 15, 2024 6:10:11 AMReply
Hi Experts,
Pls suggest which broker provides the following features in Web application:
1. Bracket Order for Intraday (this is very commn) and Delivery (this is required)
2. Non-Cash Limit
3. GTD with No Money Blockage
4. AMO/ PMO (this is easily found)
5. API Key
18.1. Sanjay patil   I Like It. |Report Abuse|  Link|April 22, 2024 12:33:22 AM
Tell me also
18.2. Virendra Singh   I Like It. |Report Abuse|  Link|July 4, 2024 1:48:48 PM
Sir ji Yeh order kaise Mela ga
17. Virendra Singh   I Like It. |Report Abuse|  Link|July 4, 2024 1:40:07 PMReply
Sir ji Bracket order N C Land G T D and amount or pmo
16. Ritesh Panchal   I Like It. |Report Abuse|  Link|August 17, 2023 5:13:50 PMReply
Suppose, share is bought at market price 100. We wish Target Price 110 & Stoploss 95.
In this scenario, which stock broker facilitates to enter 10 in Target and 5 in Stoploss ?? Please advise.
16.1. Subhendu Sekhar Hota   I Like It. |Report Abuse|  Link|December 7, 2023 11:39:11 PM
Flattrade
15. AASHISH KUMAR   I Like It. |Report Abuse|  Link|May 21, 2023 9:09:19 AMReply
Suggest which broker provide me following facilities
🌹Brackret Order in Delivery
🌹Non Cash Limit
🌹PMO (pre market open)
🌹AMO(after market open)
🌹API Key
15.2. Navghan   I Like It. |Report Abuse|  Link|April 4, 2024 9:54:12 PM
Konsha broker provide krta hey????
15.3. Kiran Gupta   I Like It. |Report Abuse|  Link|May 4, 2024 6:08:14 PM
Need a broker who provide Bracket order (not for intraday) for week/ month basis so that I get rid of placing the orders on daily basis. I tried so many brokers but all give bracket order for intraday only. Plz suggest .
14. Pankaj   I Like It. 1|Report Abuse|  Link|March 29, 2023 8:02:03 PMReply
Hi Experts,
Pls suggest which broker provides the following features in Web application:
1. Bracket Order for Intraday (this is very commn) and Delivery (this is required)
2. Non-Cash Limit
3. GTD with No Money Blockage
4. AMO/ PMO (this is easily found)
5. API Key

Thanks!
14.1. Rukmini Devi   I Like It. |Report Abuse|  Link|December 31, 2023 12:30:54 PM
Aap ke pas koun si hii jisse kaam chal raha hii ? please inform.
14.2. Vijayarjun   I Like It. |Report Abuse|  Link|March 20, 2024 8:39:34 PM
Please inform
with Brokerage chargers
13. Aakash   I Like It. |Report Abuse|  Link|April 28, 2023 2:51:06 PMReply
Pls suggest which broker provides the following features in the Web application:
1. Bracket Order for Intraday (this is very common) and Delivery (this is required)
2. Non-Cash Limit
3. GTD with No Money Blockage
4. AMO/ PMO (this is easily found)
5. API Key
13.2. makan chauhan   I Like It. |Report Abuse|  Link|September 21, 2023 6:04:09 AM
bhai mila apko aisa broker agar mila to mujhe bhi batao yarr
13.3. Jayanta Biswas   I Like It. |Report Abuse|  Link|October 4, 2023 3:30:16 PM
Kindly let me know if you find any broker with above features available.please
12. DEBOJYOTI BORAL   I Like It. 1|Report Abuse|  Link|July 9, 2023 11:43:57 PMReply
Please help me to know which Broker allows the following features:
1. Non Cash Limit
2. After Market Order /Pre Market Order
3.GTD with No Money Blockage
4. Bracket Order
5. Application Programming Interface Key(API key)
12.1. Ashwin Kumar   I Like It. |Report Abuse|  Link|July 13, 2023 6:56:07 PM
1.ncl
2.Amo/pmo
3.bo
These are provided by sharekhan
Sincerely ktp student
11. Bharat Tyagi   I Like It. |Report Abuse|  Link|June 14, 2023 5:50:04 PMReply
Bracket orders are useful for traders to limit losses and increase profitability. They involve three orders (entry, target, stop-loss) placed from one screen, offering convenience and reduced margin requirements. However, they are only available for intraday trading and not for certain instruments. Differentiating bracket orders from cover orders is important for traders.
10. TIMAN   I Like It. |Report Abuse|  Link|June 10, 2023 2:27:45 PMReply
FYERS SUCKS BIG TIME
Fyers breaks up a single bracket order into multiple orders based on bid ask price and then shamelessly charges brokerage per order. ( For example you place a buy order in Bank Nifty option for 300 Qty. After placing of order you will notice that your single order of 300 qty is split up into multiple order of 25 / 50/ 100/ 150 etc based on bid ask. Similar thing will happen when your order is squared off.)
Thankfully noticed it immediately and stopped using it after 1 month.
9. Anand Rajbongshi   I Like It. |Report Abuse|  Link|April 25, 2023 11:37:24 PMReply
Please name that broker
8. Sushil Kumar   I Like It. |Report Abuse|  Link|August 19, 2022 8:37:24 PMReply
Which broker provided BO order in AMO/PMO and GTT.
8.1. pankaj   I Like It. |Report Abuse|  Link|March 30, 2023 11:50:32 PM
mere paas already hai par saare 1 broker me nahi mil raha. kaam to chal ja raha hai.
7. Alok   I Like It. |Report Abuse|  Link|August 22, 2021 2:54:13 AMReply
Which broker currently allows bracket order.As Zerodha doesn’t
7.1. ashutosh   I Like It. |Report Abuse|  Link|July 29, 2022 10:00:25 PM
alice blue
6. Chirag   I Like It. |Report Abuse|  Link|August 29, 2021 3:56:51 PMReply
For Stock options (derivatives) trading , Does any broker allows CO or BO ??
6.1. rakesh   I Like It. |Report Abuse|  Link|April 28, 2022 4:35:20 PM
SAS Online
5. Md Raju   I Like It. |Report Abuse|  Link|December 24, 2021 9:40:35 PMReply
Is there any company providing trailling stop loss in options trading
5.1. rakesh   I Like It. |Report Abuse|  Link|April 28, 2022 4:34:36 PM
SAS Online has bracket order with trailing SL for Options.
4. Hemant   I Like It. |Report Abuse|  Link|February 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   I Like It. 1|Report Abuse|  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   I Like It. 1|Report Abuse|  Link|January 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   I Like It. |Report Abuse|  Link|October 29, 2020 9:19:41 AMReply
Any broker offering Bracket order after the market closes?
2.1. Chetan   I Like It. |Report Abuse|  Link|August 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   I Like It. |Report Abuse|  Link|June 2, 2021 11:43:51 PMReply
Nice