Knowledge Base

Yes, both Bracket Orders and Cover Orders are available on the Samco app. They are available as product type options on the order placement screen.

Bracket Order (BO) A Bracket Order lets you place a buy or sell order along with a target price and a stop-loss simultaneously. The position is automatically exited when either the target or the stop-loss is triggered. You can also enable a Trailing Stop Loss within a Bracket Order, which adjusts your stop-loss upward as the price moves in your favour. Bracket Orders are useful for traders who want to define their risk and reward upfront without having to watch the screen constantly.

Cover Order (CO) A Cover Order lets you place a buy or sell order along with a compulsory stop-loss. Unlike a Bracket Order, a Cover Order does not have a target price — it only has a stop-loss to protect against adverse moves. On the order placement screen, when you select Cover as the product type, you will see a Stop Price (Sell) field where you set your stop-loss, along with the permitted Stop Price Range shown by the app. Cover Orders typically offer higher leverage compared to regular Intraday orders because the mandatory stop-loss reduces the broker’s risk exposure.

Both BO and CO are available only for Intraday trading and cannot be used for Delivery or Overnight positions.