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What is a cover order?

The Cover Order (CO) facility allows for dual-leg intraday trading orders comprising a primary buy/sell order and a mandatory stop-loss order to limit potential losses.

The primary objective of a cover order is to mitigate trading risk by automatically limiting the maximum potential loss from adverse price movements.

This facility provides traders with a predefined exit strategy, enabling effective risk management and allowing them to focus on trading strategies without the need for constant monitoring.