Announcements

We’ve brought back Cover Orders (CO) for Intraday Equity and Futures trading. You can even avail up to 5x margins on such orders.

Read on to know more.

What is a Cover Order (CO)?
This is a special order type that is a combination of a market/limit order and a stop-loss order. It has 2 legs: the first leg is always a limit/market order and the second leg is a stop-loss order.

In case the 1st leg is a buy (market/limit) order then your second leg would be a sell (stop-loss) order. In case the 1st leg is a sell (market/limit) order then your second leg would be a buy (stop-loss) order.  Both orders are interconnected. The order can be modified up to the last traded price (LTP) in the case of a favorable market movement.

What are the benefits of placing such an order?
Cover orders have a major advantage in terms of the margin you get for placing that trade. Currently you can avail up to 5x margins on Equities and 2x on Futures CO. To know more about our margins click here.

Just like all Intraday orders auto square off for cover orders takes place at 3:00 PM.

How to place a CO on Upstox?
To place a CO for Intraday Equities and Futures trading, you’ll need to select ‘CO’ under ‘Order Complexity’ from the order entry screen. You will need to enter the Limit Price and the Stop-Loss price while placing a CO.

Make the most of this update while trading and limit your losses!