Currently, no validation checks are performed here. We will discuss and address this.
Can someone please explain the difference between iceberg orders and basket orders? When should you choose one over the other?
No change. Icebreg will issue multiple orders (depending on how many you choose to issue) – typically used to easily punch orders above the frozen quantity.
The same can be done manually for basket orders. (However, a basket can contain multiple different scripts)
Iceberg orders allow you to place a large order and split it into smaller orders. Small orders are placed first, and subsequent orders are placed only after the first order is executed. This greatly reduces impact costs for large orders.
Basket orders allow you to split a large order into multiple smaller orders, but when placed in a basket all orders are placed at the same time. Baskets can therefore help you place large orders that would not otherwise be possible due to the maximum lot size per order, but the impact on costs is due to the fact that all order portions of the basket are placed at the same time. does not help.
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Iceberg orders are chosen when you want to exceed the order freeze limit set by the exchange or when you want to hide your order queue from other market participants.
Basket orders when you want to execute a batch of orders for different securities or the same security at once. Basket orders can also be used to overcome freeze limits, but are less recommended than Iceberg orders due to more final work.
Regarding impact costs, if you are using market orders with iceberg slices or basket orders, you may experience slippage as you have no control over the fill price. You can only control your impact cost if you place a limit order, after which you can control your slippage, whether it’s a basket order or an iceberg order.
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Thanks @t7support
You explained it in the best possible way.
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@Nithin, I’ve been getting this message since last week or so.
Is this some kind of new regulation, or has it simply existed for a long time and is now being enforced more strictly?
Market orders were really helpful, especially. In volatile times like these, you may need to withdraw as soon as possible…
Since Iceberg is technically an execution algo and algos are not allowed to place market orders, they were asked to block market orders. A way around this is to place a limit order at a higher price to buy and a lower price to sell.
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Expiring bank nifty @nithin limit orders, definitely going to miss some points there …is there any possibility to bring back the old functionality of market orders with Iceberg orders?
Oh no, the exchange has asked us to stop offering market order functionality.
By the way, if you set your limit at some distance, your limit will work exactly like the market, but with some kind of protection.
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@nithin saw a new online ‘one cliq’ platform for faster order execution during scalping…this is the same as the previous version of iceberg orders where market orders were allowed for iceberg orders Isn’t it also compatible with the zerodha platform…I just had two questions about the same thing.We look forward to hearing from you
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I have previously mentioned that algo ‘market orders’ are not allowed to be executed as instructed by the exchange, is it safe to use ‘one-click’ for order execution?
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Secondly, can’t a similar order execution platform be built in for Zeroda? It looks very cool and smooth and would be a boon to retailers if HFT happens during periods of volatility
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There are exchange regulations regarding the functionality available on the trading platform. Anything this platform offers is not allowed on the retail trading platform. Using an API route to get around this is a regulatory gray practice. Best avoided.
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herring as usual But this platform is compatible and also supported by zerodha… Should I still avoid it? For retailers, order execution during use is very smooth
No, it is not supported by Zerodha. We only support the products listed here.
As I said before, any third party product built on top of us by using APIs or building bridges carries risks. We have no control over such integrations. This is best avoided unless you know exactly what is going on.
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@nithin, sorry again for the inconvenience, but I didn’t get a proper response to the ticket I raised because of this…after reading your opinion on 3rd party apps like 1cliq , I canceled my subscription to the API from the zerodha development page and deleted everything…but I had linked my zerodha account to this 3rd party app so my transaction details were shared with this 3rd party app I’m still worried if I will. Second, this app does not allow me to delete my user profile on the website. This is very strange to begin with…
Would you like to know if it’s possible for these third-party apps to remotely track a user’s Kite transactions even if the subscription is canceled from the Kite development page?