Zerodha is known for its innovation and has changed the way people transact in the stock market. Zerodha is offering FREE transactions in the cash segment and only ₹ 20 fixed charges for intraday transactions irrespective of the order size. Zerodha also has introduced GTT orders through which investors can place the buy/sell order for a validity of 365 days. In this article, we will discuss GTT Order in Zerodha and how to place it on the Kite platform. We will also discuss the pros and cons of GTT orders.
What is GTT Order In Zerodha?
GTT stands for Good Till Trigger order. As the name suggests, the order once placed is remained active on the server until the trigger condition is met. The validity of the trigger is for one year from the date you place the order. So once the GTT order is placed and the trigger is met, your order will be placed and executed on the exchange.
If during the entire one year the trigger is not met then the order will be canceled and you will have to place a fresh order again.
The GTT order can be of two types, Buy GTT and Sell GTT order. It is up to you what kind of GTT order you want to place.
In GTT orders, your order is actually not placed on the exchange. It is placed on Zerodha’s server with the limit trigger. When the trigger is met, a simple limit order will be placed on the exchange by Zerodha on your behalf. GTT feature is allowed only on the Equity cash segment for CNC type orders on NSE & BSE.
GTT orders are subject to the available balance at the time of trigger met. The Buy order will be placed on exchange and at that time, there should be a sufficient balance in your trading account in order to execute your order. For the sell GTT, the same way you should have a sufficient holding of the scrip for which the sell GTT order is placed.
Features of GTT order in Zerodha
- GTT orders are valid for one year from the date it is placed.
- GTT can be placed only for the cash equity segment on Zerodha.
- Zerodha places the limit order on the exchange as soon as the GTT set trigger is met.
- You need to have sufficient balance/holding in your trading account while placing the GTT order.
- You can have a maximum of 50 GTT orders in your trading account.
- The trigger set on the GTT order is valid only once.
- All orders will be placed and executed during the market hours only.
- The GTT order will be triggered even in case a stock opens gap up or gaps down, having breached your trigger price.
- You will receive an e-mail every time you place the GTT order and also when it gets executed.
- GTT orders are free for the first three months, after that the Zerodha will decide the pricing on the orders.
- GTT order in Zerodha may not be executed if it involves any risk like capital market risk or online trading-related risk.
- The “call and trade” feature is not allowed for GTT orders.
- There must be a difference of 0.25% in price between the trigger and limit price in GTT order.
How to place GTT order in Zerodha?
Follow below steps to place GTT order in Zerodha kite platform.
- Login to Zerodha’s Kite platform with your ID and password.
- Select the stock on the market watch tab for which you want to place a GTT order.
- From the drop-down menu, select ‘Create GTT’.
- Check on the options button ‘Single’ if you want to place the GTT only once.
- Fill in the details like, trigger price, price, and quantity in the form that appeared in front of you.
- Confirm the details you have filled in just now.
- If all the details are found ok, click the ‘Create’ button.
- Go to the ‘Oders’ tab to check your GTT order. You can edit/delete the GTT order from the ‘Orders’ tab.
FAQs – Zerodha GTT Orders
The order will be valid for one year from the date it is placed.
No, GTT order is only allowed in Equity cash segment.
You can have maximum of 50 active GTT orders in your trading account at a time.
GTT orders are free for first 3 months, after that Zerodha will decide the charge on your GTT orders.
Yes, you can edit/cancel your GTT order until it is not placed on the exchange.
You can check all your active GTT orders in ‘Orders’ tab.
No, you have to place all your GTT orders during the market hours only.
GTT order in Zerodha is an innovative order type that will save your time and energy of placing the orders daily. The main benefit of this order is it remains active for 365 days from the date it is placed. I am always trading in the cash segment (delivery basis) so I always place the GTT orders for both buy and sell the stocks. I find it very convenient to place GTT orders and forget them. Zerodha will take care of the rest. Have you tried GTT orders in Zerodha yet? If yes, how was your experience with it? Please share your experience with me in the comment box below.