This facility is available only for online trading customers.
Any individual, proprietary firm, partnership firm, or a company can open an account with Kotakcommodities.com.
The minimum amount of margin that you need to pay Kotak Commodities to start trading is Rs 30,000. The margin should be in form of cash only.
a) Limit Order: It is an order where the user specifies the price at (or better than) which the trade should be executed.
b) Market Order: It is an order which should be executed at whatever be the prevailing price on or after submission of such order. If there is no market at that point of time, it takes the last traded price and remains in the system.
c) Day Order: It is an order which is available for execution during the current trading session until executed or cancelled. All day orders will get cancelled at the end of the day during which such orders were submitted.
d) Stop Loss Order: It is an order placed which is kept by the system in suspended mode and will be visible to the market only when the market price of the relevant commodity reaches or crossed a threshold price, which is called as trigger price as defined by the member. It is used as a tool to limit the loss.
Stop Loss order can be placed while placing a fresh order as well as a square off order.
Basics of Stop Loss Order:
Buy: Market Price < Trigger price <= Order Price. (Trigger price entered should be greater than the market price)
Sell: Market Price > Trigger price >= Order Price. (Trigger price entered should be lesser than the market price)
When the market hits the trigger price, the order is forwarded to the exchange and the same gets traded at a price between the Trigger price and the Order price.
Online Trading
For whom is this facility available?
