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Here are some of the key benefits of a cover order:

Manages Risk Effectively:

• The Stop Loss minimises risk and helps you exit quickly during unfavorable market movements.
• You pre-define the maximum loss (with minor variations due to execution price).
• You avoid the hassle of constantly monitoring the market.

Ensures Faster Execution:

• The system sends both the entry and Stop Loss (SL) orders together. Once the primary order starts filling, the SL leg is immediately placed on the exchange, ensuring faster execution and reducing delays. The Stop Loss order gets placed as soon as the entry order starts filling, making execution quicker than manual or GTT orders.

Simplifies the Process:

• You place both the entry and Stop Loss orders in one step, saving time and effort.