What is MarginPLUS?
MarginPLUS is an order placement feature where you can take a position at market price and also place a cover order for the position specifying the SLTP and the limit price. This will minimize the loss on the position. ‘MarginPLUS’ is a product whereby you can place a SLTP loss cover order at the time of taking the position itself. Thereby it gives a clear view of maximum downside involved in a particular position. Since you are committing to square up the position at a particular price, ICICIdirect won’t levy a normal margin ranging from 21% to 50%. It would block the maximum loss which customer can suffer.
MarginPLUS offers an order placement feature through which you can take a intra-day position in the equity segment and at the same time, place a cover order for this position specifying the Stop Loss Trigger Price and the limit price. This cover order will help you to limit the loss, if any, on the position. How does MarginPlus work? At the time of taking a position in MarginPlus, you would also be required to specify a Stop Loss Order, and hence limiting your loss to that extent. Since the risk is now limited to the difference between your Buy/Sell rate and the Limit price, margin will be primarily based on this difference. Features • MarginPlus is available for intra day trading in more than 60 stocks on ICICIdirect.com • Helps to limit your loss through a Stop Loss Order • Open MarginPlus positions can be closed any time before the End of Settlement timings as specified by ICICIdirect.com • Auto square off process to help you close your open positions at the End of the Day. How to p
