MIS stands for ‘Margin Intraday Square-off.’ It is a product type available in FYERS Next that allows traders to take intraday positions with leverage of up to 5 times. Under the MIS product, traders are required to square off their positions 15 minutes before the market closes on the same trading day. It offers higher leverage but involves higher risk than Invest/Margin product types.
For example, if Mr. A, a trader, wants to buy 100 shares of Reliance Industries at ₹2000 per share, then he can do so with only ₹40,000 (20% of the total value) under the MIS product. However, he has to sell (exit/square-off) the shares before 3:15 PM on the same day, or the system will automatically square off the position at the prevailing market price. This way, Mr. A can benefit from intraday price movements without investing the total amount. On the contrary, if the price goes against the trader’s expectation, he may incur losses that are magnified by the leverage.
Note: MIS in FYERS Next is the same as Trade in FYERS Web and App.
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