What order types can I place on FYERS?

What Order Types Can I Place on FYERS?

On FYERS, you choose how your order behaves. Use market when speed matters, limit when you want price control, SL when you want a fast protective exit at a trigger, and SL-L when you want a trigger plus a worst acceptable price.

Order types

  • Market order: We send your order to fill immediately at the best available prices. Use this when liquidity is strong and you care more about getting in or out than the exact price.
  • Limit order: You set the price. A buy will not pay more than your limit and a sell will not accept less than your limit. Your order waits until the market trades at your price or better. Use this in illiquid names or whenever you need price control.
  • SL (stop-loss) order: You set a trigger price. When the trigger hits, we place a market order so you can exit quickly if price moves against you. Choose this when fill certainty matters more than the exact price.
  • SL-L (stop-limit or trigger-limit) order: You set a trigger price and a limit price. When the trigger hits, we place a limit order at your limit. The order will fill only within your limit. If the market gaps past your limit, it can remain pending.

When to use which?

  • Use Market for immediate execution in deep, liquid instruments.
  • Use Limit for price control or in wide-spread, low-liquidity stocks.
  • Use SL for a quick exit once a risk level is breached.
  • Use SL-L for a triggered exit that must respect your worst acceptable price.

How to place SL and SL-L correctly?

  1. Pick the trigger price where the order should activate.
  2. For SL, select Stop-loss and enter the trigger. We send a market order on trigger.
  3. For SL-L, select Stop-loss Limit and enter trigger and limit.
    • For a sell exit, set limit ≤ trigger.
    • For a buy entry or exit, set limit ≥ trigger.
  4. Review quantity and validity, then place the order.

Examples

  • SL-L sell: You hold a stock at ₹3,000 and want to exit if it falls, but not below ₹2,600. Set trigger ₹2,700 and limit ₹2,600. If price touches ₹2,700, we place a sell limit at ₹2,600. It can fill between ₹2,700 and ₹2,600. If price gaps under ₹2,600, it can stay pending.
  • SL sell: Same trigger ₹2,700, but with SL. When ₹2,700 prints, we send a market sell. It can fill lower than ₹2,700 in fast moves.
Use limit for price control, market for speed, SL for quick exits on a trigger, and SL-L when you want a trigger plus a firm worst price.

What if...

ScenarioOutcome
You place a market order in a thin stockYou may see higher slippage and multi-price fills.
Your limit price never tradesThe order stays pending and can expire if validity ends.
Your SL triggers during a gapIt converts to market and may execute worse than the trigger.
Your SL-L triggers but the market gaps through your limitThe order can remain pending because price is outside your limit.
You need speed with some controlUse a marketable limit slightly through the best price.

Last updated: 07 Nov 2025

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