Hello,
I remember that there was Conditional Buy Order available on Coin Web earlier. Now canot find that.
Not sure what was the reason to withdraw the same.
Also on the Redeem side, it would be very useful to have Conditional order.
This will help one to execute order at desired NAV and anticipate the Investment Amount on Buy / Gains or Loss on Redeem.
This is something like GTT feature (valid for a year) that is available on Kite for Stocks.
Please consider to introduce this feature on Coin Web.
We had to take down conditional order feature post the discontinuation of pool account from July. Earlier, when the money could be debited from the trading account for conditional orders, it was easier to process such orders. Post the transition in July, our priorities were more focussed on improving the payment experience for different modes of paymets via different payment aggregators and banks. Now that all these processes are streamlined we are working on bringing back features like conditional orders and NFO. Fortunately our SIP and step up SIP features didn’t get disrupted. We are also working on SWP and STP which are slightly more complex. So conditional orders should be live soon and will keep you posted on it.
@nithin Yes, even before the transition in July we had decided to not offer conditional order on sell side because we wanted to nudge users away from it(this was before Nudge feature was live on Coin). The reason being that mutual funds are to be held for a very long term and if this option was provided then users might be inclined to place more redemption orders. But now that we have a Nudge feature, we can allow conditional sell order and show the relevant message. I’ll discuss this internally with tech team.
@nithin@faisr Please make this feature available soon atleast for the buy side first or let us know a tentative date. It would really help a lot of people take advantage of volatility in the markets and accumulate more units.
@Wolf_of_bombay this is in the pipeline and shall be available shortly, can’t promise any timeline as of now but will be up soon on both Coin app and web.