Considering BO and CO orders might getexecuted over several trades, please explain the brokerages applicable to these. An example will be appreciated.
MIS
It doesn’t matter how many trades an order gets executed in. Both buy/sell will have 1 order number each, so for each order Rs 20 flat or 0.01% whichever is lower applied.
You buy 1000 shares Reliance and you sell 1000 shares of Reliance, each got executed in 5 trades, you still pay just Rs 20.
Cover/Bracket
The entry order is always one, hence the entry will always be flat Rs 20 or 0.01% whichever lower. But if entry order is executed in multiple trades, every trade results in a new set of SL (in case of cover) SL/Exit( in case of bracket). Since different order numbers get generated, the exit order will be charge Rs 20 or 0.01% whichever lower separately.
You buy 1000 shares of Reliance using cover/bracket, which gets executed in 5 trades. Entry order you pay only Rs 20, exit order you pay Rs 20 x 5 = Rs 100.
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Kindly clarify
In same eg., if i bought 1000 ril shares using market cover order, n it got executed in 5 trades and i m charged 20, but whn i sell it at market price, shldnt 1 order id b generated n i shld b charged only 20 ? (As SL is one n its getting executed in single shot)
For cover order it will be treated as one only, so only 20 will be charged. For BO it depends on number of legs.
Ok … You mean in lmt CO, the exit orders have multiple brokerage due to different SL n in mrkt CO, its rs40 total (buy/sell)?
CO has two legs, 1 entry and 1 exit, so total will be 40,that’s it.
You mean to say, if BO is executed in parts, I will be charged for each of those bracket orders separately?
https://tradingqna.com/t/cover-order-brokerage-calculation/24617
In above link, kindly refer to the last answer given by srinivas as it contradicts to wht you are saying (point no.1)
Hes saying in Limit CO, if SL is triggered, then zerodha charges rs. 20 or 0.01%, multiple times
If BO executes multiple times, it will have multiple targets and stop losses, so charged separately for each completed leg. Can check this for more on BO.
I guess the idea is to reap more brokerage charges from partial executed orders. I had written to them as well, long back. I was told it will be implemented soon, but that doesn’t seem to the case. More brokerages for part execution.
ALSO, I WAS MISGUIDED BY ONE OF THE EXECUTIVE SAYING IT WILL BE CHARGED AS SINGLE ORDER. I keep on using BO for the very same reason. This thread helped me know what they really charge.
I could not able to find it, anyhow for CO it will be like any normal order only. Charged per completed order.
No intention of reaping more brokerage or anything as such, that is how BO works. Atleast you should have written to support after seeing brokerage part. I believe it is clear now.
Thanks. My bad. Should have not trusted Zerodha executives and should have checked myself. Guess, Laziness costed. Thought Customer care executives were well versed with that.
I believe willingly no would say it wrong, may be he might have mistaken or you understood it differently but everything is written on support portal and here.
update:
had a word with 2 zerodha executivs. … both confirmed that in cover order, you shall be charged for multiple trades and multiple order ids wl be generated (even if its MARKET CO or lmt CO), as nse treats them as seperate orders and so it wil be executed separately.
a 1000 shares market CO buy order gets executed in single shot (as its market order), bt at 5 multiple prices will generate 5 brokerages (0.01% of value or rs 20)
Can you give their names or can you message me from which number you called? I can get it checked.
May be u should not put your number publicly, u can delete it, I have noted this.