Zerodha GTT Order Explained

GTT  stands for the Good Till Triggered order which allows you to place an order which is sent to the exchange only when the price condition is met. GTT is introduced by Zerodha and it is equivalent to the Good Till Cancelled (GTC) order offered by most full-service brokers in India.

Why Zerodha doesn't offer GTC order?

GTC orders are valid until they are canceled. These orders are useful for investors who do not track the market daily. With the GTC order, you could simply place an order for with target price and let it be there forever. When the price matches, the order gets executed.

For example; I would like to buy ITC Shares at ₹200. One option I have is to place a limit order every day at ₹200. With GTC, I can just place this order and forget it. Whenever the price reaches, the order will get executed.

Stock exchanges in India don't support GTC order. For this reason, a broker offering GTC order has to place the pending GTC orders to the exchange every day in the morning. The orders which are not executed are canceled by the exchange at the end of the day.

The placing of pending GTC orders everyday causes technical challenges and increases the cost for the broker as they have a limit of placing 400 messages per second per line.

Zerodha GTT Orders

Zerodha introduced GTT orders on 26th July 2019 for equity delivery traders (CNC orders). It's an excellent substitute for GTC orders which is a very critical trading feature for passive stock market investors.

While this has similarities with GTC orders, they are not as convenient as GTC. There are many things to keep in mind while placing GTT orders with Zerodha. Please read the GTT order limitation section below for more detail.

Zerodha GTT Pricing

GTT orders are offered free of charge for the first 3 months to Zerodha customers. Zerodha is planning to announce the pricing of GTT orders soon.

Zerodha GTT Order Limitation

• GTT is only available in the Equity Delivery segment.
• GTT is only available on Kite Web. It is not available in Kite Mobile.
• GTT orders can be placed only during market hours.
• The order is sent to the exchange only when the price reaches the trigger price set. This is unlike GTC where all orders are sent to exchange everyday morning.
• If the trigger price reaches, Zerodha places the order to exchange and remove the order from the GTT queue at Zerodha. In case the order gets canceled for some reason, you will have to place the GTT order again manually.
• GTT orders have to be placed online. They cannot be placed over the call.
• Maximum 50 active GTT orders are permitted per customer.
• Active GTT orders will be in the system for a maximum of 1 year.
• The GTT order will be canceled automatically when there are corporate actions like a bonus, dividend (if greater than 5% of market value), stock split, etc.,

Steps to Place GTT Orders with Zerodha

1. Login to Zerodha Kite Web.

   

2. In the market watch, choose the stock and click on "…"

3. Click on the 'Create GTT' button.

4. Fill the order form as below:

   

5. To view the status or add/update GTT order, Go to 'orders' page and click GTT tab

   

Zerodha GTT Order Advantages

• Orders placed are valid for a year.
• Orders get executed only when the trigger price reached.
• Similar to GTC orders offered by full-service brokers like ICICI.
• No need to place an order every day if you have a buy/sell price at which you want to enter/exit.

Zerodha GTT Order Disadvantage

• It's a paid service by Zerodha.
• GTT is only available in Equity Delivery (Cash and Carry) trades.
• GTT order type is only available Zerodha Kite Mobile Trading App.
• GTT order can be placed only in the market hours. This is unlike GTC orders which can be placed at any time of the day. This feature is important for NRI customers.
• Once triggered, the order gets removed from the GTT queue irrespective to order got executed or not.
• Maximum 50 GTT orders per customer

Zerodha GTT Orders - Frequently Asked Questions