MIS stands for Margin Intraday Square-off. It is a product type in FYERS Next that allows you to take intraday trades using additional leverage. This means you can enter larger positions with a smaller upfront capital, but all trades must be squared off on the same day.
Key features of MIS orders
- Leverage: Up to 5x margin on eligible stocks and instruments.
- Intraday only: Positions must be closed by 3:15 PM on the same trading day.
- Auto square-off: If not exited manually, positions will be squared off by the system near market close.
- Higher risk: Leverage can magnify both profits and losses.
Example
Suppose Mr. A wants to buy 100 shares of Reliance at ₹2000 per share (₹2,00,000 total):
- Under MIS, he only needs ₹40,000 (20% of ₹2,00,000) due to 5x leverage.
- He must sell the shares before 3:15 PM.
- If the price rises during the day, he benefits from the full gain; if it falls, losses can be amplified.
- In FYERS Next: The product type is labeled as MIS.
- In FYERS (Web and App platform): It appears as Trade (same function, different label).
What if...
| Situation | Resolution |
|---|
| Forgot to square off before 3:15 PM | System will auto square-off the position |
| Facing margin shortfall intraday | Risk of position being squared off prematurely |
| Want to carry position overnight | Use the CNC or Margin product instead of MIS |
MIS orders help active traders leverage intraday opportunities, but always monitor positions closely and manage risk, as all trades auto-close the same day.
Last updated: 30 Jun 2025
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