Cover Orders (CO) are highly leveraged short term intraday product. Cover order is a unique feature at ProStocks, where you can trade intraday using market orders but with a definite and compulsory stop loss. Since there is a stop loss placed, the risk of the position reduces and hence the lower margin.
Cover Orders are available for Equity Cash Segment. Cover Orders are not available for Currency Futures, Equity Futures and option. Using cover orders, you can trade with lesser margins than margin required for NRML orders and MIS orders.