Thursday, July 18, 2024
HomeDemat directoryZerodha GTT Order - Options, Limit, Pricing, Validity and More

Zerodha GTT Order – Options, Limit, Pricing, Validity and More

Share In

Table of Contents

What is Zerodha GTT Order?

What are the Different Zerodha GTT Options?

What is the Zerodha GTT Pricing?

What is the Zerodha GTT Validity?

What is the Zerodha GTT Limit?

How to Place Zerodha GTT Orders?

Conclusion

Do you wish to place Zerodha GTT Orders? The Good Till Triggered (GTT) functionality enables you to submit an order to the exchange, which will be executed only when the specified price condition is satisfied. Zerodha has introduced GTT as a feature that provides a service similar to the ‘Good Till Cancelled’ (GTC) order offered by many full-service brokers in India. Know all about Zerodha GTT Orders.

Open an account with Zerodha.

What is Zerodha GTT Order?

GTT, an abbreviation for Good Till Triggered, is a convenient feature provided by Zerodha for applying buy or sell orders. It allows traders to place orders that remain active for up to one year until a specified price condition is met. Both buy and sell orders can be placed under GTT and can be canceled at any time. This feature proves invaluable to traders who are unable to continuously monitor their stock market investments.

By setting a predetermined price, GTT ensures that the order is automatically executed when the desired price level is reached.

Go through our article on Zerodha Charges – Account Opening Charges, Account Maintenance Charges etc.

What are the Different Zerodha GTT Options?

Zerodha provides the option to execute GTT (Good Till Triggered) buy or sell orders using either a Single Trigger or OCO (One Cancels the Other) method.

Single Trigger

With the Single Trigger type, you set a trigger price and input the order price for the desired quantity. Once the trigger price is reached, the order is immediately placed with the exchange. This type of trigger is commonly used for entering new positions.

OCO Trigger

OCO refers to One Cancels the Other. With the OCO trigger type, you are required to establish a stop-loss price or percentage, as well as a target trigger price or percentage. Once either of these trigger conditions is met, then the OCO order is submitted to the exchange. True to its name, when an order is executed based on one trigger condition, the other trigger is automatically cancelled. The OCO trigger type is commonly employed when you have a specific target for exiting your current positions while minimizing losses.

What is the Zerodha GTT Pricing?

Using the GTT (Good Till Triggered) feature in Zerodha is completely free of charge. There are no fees or charges associated with Zerodha GTT.

What is the Zerodha GTT Validity?

When you place a Zerodha GTT order, it remains valid for one year from the date of order placement. However, it is important to note that once the GTT trigger is hit, the order becomes deactivated regardless of whether it gets executed or not. In this scenario, you will need to place the GTT order again, as the previous order will have expired and become invalid.

What is the Zerodha GTT Limit?

Investors should familiarize themselves with specific Zerodha GTT limits that are important to note.

The Zerodha Kite Mobile Trading app is a popular platform used by traders for executing trades and managing their investments. One of the features provided by this app is the Good Till Triggered (GTT) facility, which allows traders to set conditional orders on their securities.

However, there are certain limitations to the GTT facility on the mobile version of the app.

  1. The mobile version of the Zerodha Kite Trading app currently offers a GTT (Good Till Triggered) facility exclusively for stocks in delivery trading. However, the inclusion of Nifty and Bank Nifty futures and options within the GTT feature is not yet accessible on the mobile platform.
  2. If you wish to sell the securities held in your Demat account by placing a GTT (Good Till Triggered) order, it is necessary to authorize the delivery using CDSL TPIN. The authorization is valid for a period of 90 days only. However, if you have already submitted a Power of Attorney (POA), this additional step is not required.
  3. GTT (Good ‘Til Trigger) orders can only be placed during market hours. These orders are sent to the exchange only when the price reaches the trigger price that has been set. This is different from GTC (Good ‘Til Canceled) orders, where all orders are sent to the exchange every morning regardless of the price.
  4. Once the trigger price is reached, Zerodha automatically executes the order on the exchange and removes it from the GTT (Good Till Triggered) queue. However, if the order is canceled for any reason, you will need to manually place the GTT order again.
  5. Online ordering is mandatory for Zerodha GTT orders; placing them over the phone is not allowed.
  6. Each customer is limited to a maximum of 50 active GTT orders.
  7. Active Zerodha GTT orders will remain in the system for a maximum duration of 1 year.
  8. When corporate actions such as a bonus, dividend (if it exceeds 5% of the market value), stock split, etc., occur, Zerodha GTT orders are automatically canceled.
  9. It is the responsibility of the investors to manage their Zerodha GTT orders, as no dealing desk support is provided for such orders.

How to Place Zerodha GTT Orders?

Zerodha provides access to the GTT feature via both the Kite web platform and its mobile app. To access the Zerodha Kite Web or mobile app, please follow the steps below:

  • Open the Zerodha Kite Web or Zerodha mobile app and log in to your account.
  • Once you are logged in, select the desired stock on which you want to apply GTT (Good Till Triggered).
  • On the Kite web interface, you can find the ‘Create GTT’ option by clicking on the ellipsis (…) menu.
  • On the mobile app, the ‘Create GTT’ option can be found above the market depth window.
  • Click on the ‘Create GTT’ option.
  • A form will appear where you can fill in the details of your Zerodha GTT order.
  • Fill out the order form according to your preferences.
  • To view the status of your GTT order or make any changes to it, navigate to the ‘Orders’ page.
  • On the ‘Orders’ page, click on the ‘GTT’ tab to access your GTT orders and perform any necessary updates.

Check out our Zerodha Kite Review.

Open an account with Upstox.

Conclusion

Zerodha GTT orders are a noteworthy option for passive stock market investors. However, these have room for improvement to match the convenience provided by GTC (Good ‘Til Canceled) orders, which are highly favored by most investors. Zerodha should consider incorporating additional features to enhance the overall user experience.


Share In
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments

Facebook
Twitter
YouTube
LinkedIn
Share
Instagram
Telegram