Mumbai: The world of stock market can be rather complex and intimidating at times for a newbie as well as a seasoned trader. Even while actively searching for the right tools and guidance, chances are that one wouldn’t exactly know where to begin. To address this predicament, HDFC securities – one of the leading stock brokerage firms has introduced #FaydeKeFeatures initiative to help its customers navigate smoothly through the stock market. Within the #FaydeKeFeatures series – ‘Trade Smart and Fast’ offerings gained wide acceptance and appreciation that helped customers gain more value out of their trading accounts. Now, with ‘InvestPlus’ making its foray, investors will not only make optimum use of their capital and investments, but will also be able to leverage the various order placing features to maximise their earning potential.
Explaining the features of InvestPlus, Mr. Dhiraj Relli, MD & CEO at HDFC Securities said, “We are always looking out for ways to facilitate our customers in their investment journey. Whether it is about price discovery or placing orders as per their convenience, we will most certainly go that extra mile to make their life easier. Our #FaydeKeFeatures was initiated precisely with this purpose in mind. These features will empower the traders to be firmly in control and make sound investment decisions. The Invest Plus features are designed to ensure that every time investors place orders, there are some key levers in order placement that would help them reap benefits from our distinguished offerings.”
Take a look at how the exciting new features of InvestPlus can guiding the customers to trade smartly
Order Slicing
A newly introduced feature, it gives the traders the advantage of dividing a large quantity order into multiple child orders. Termed as an important aspect of trading, if it is not done then a single large quantity order can have direct implication on market liquidity and price discovery. All the sliced orders are treated independently and placed one after the other in a loop. One of the prime reasons for Order Slicing is to minimize and have control on Cost of Carry for holding a position.
Off-Market Orders
No worries if one misses to place their order during the market hours. Now there is a provision to place an off-market order even when the exchange is closed. It will be executed on the next trading day. It has to be ensured that the order is placed within the Limit Price in the Cash and Margin Segment as mandated by the exchange. Moreover, the order can be cancelled/modified but on the condition that it is done before the price is triggered.
Bracket Order
A useful tool that helps in minimizing the risk, the Bracket Order is a type of cover order where a profit and stop loss order can be placed while entering the first position of buy/sell at market price. A BUY order is essentially bracketed by a high-side sell limit order and a low-side sell stop order and vice-versa for a SELL order. When either of the order (profit or stop-loss) is executed, the other automatically gets cancelled. Plus, it comes with Trailing Stop Loss functionality that helps in further minimizing the losses.
Smart Order Routing (SOR)
This feature is almost like a boon in itself. Not only does it save valuable time by eliminating the manual effort required to search for the best price, but it is also cost-effective as there are no extra charges attached. On placing orders via the SOR, the system automatically compares various stock prices across exchanges and gets the best price almost instantly. Available only for equity orders, it can be used to Buy/Sell in Cash/Margin/Intra-day/E-margin.
Basket Order
Just like the popular phrase ‘Having all your eggs in one basket’, this feature lets the customer place order for multiple scrips at one time. Whether the orders are for same or different securities, it can be clubbed together in a single basket and the order is placed at a single go. 5 such baskets, each with 15 scrips can be created and they work after market hours as well. Partial execution of the basket can also be done on a need basis.
