What is IOC in Upstox?
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- Updated On:03-Mar-2021
- Replies:1
Short Answer
IOC stands for Immediate or Cancel, which means if an order is not executed immediately under a given time frame, it will be liable to cancel.
Detailed Answer
Many investors have a doubt regarding the IOC of Upstox. The IOC means Immediate or Cancel Order, which is a special function available in Upstox for executing an order immediately, and in case of failing the order will be canceled. Here in this article, we are going to know more about the IOC of Upstox along with some of its benefits and uses. So without any further delay, let's get right into it.
What is IOC?
As mentioned above, IOC means Immediate or Cancel in Upstox, which refers to the trading process of buying or selling a security. In the case of an IOC, the order must be immediately placed and in absence of that, it will be automatically canceled by the system.
By using IOC traders can decide the active status of their order, if the time is passed, then the order gets canceled. Now as we know what IOC is all about let us look at some of its benefits from below.
Benefits of IOC
There are several benefits of using IOC. Some of them are as follows.
- You get the option to place your order in a particular period of time.
- If the order is not executed in a given time frame the order gets canceled so no need to cancel it manually.
Uses of IOC
Now after benefits let us know why IOC is useful for the traders. IOC is a very useful option frequently used by traders who uses the scalper strategy. Scalper strategy is a special kind of day trading strategy where a trader tries to make a profit out of hundreds of trades.
The strategy needs traders to place hundreds of order in a day, that need to be executed immediately, as the value of a stock change over time. Day traders used this strategy to make a small profit by using the volatile market.
Conclusion
So we hope now you know what is IOC is Upstox. It is an essential feature to have in a trading platform for day traders. If you have any other questions, ask the same in the comment section down below.
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Discussion (0)
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To be precise, IOC or immediate or cancel orders are the type of time force orders which are bought and sold as soon as they are available in the market and the pending are cancelled.
IOC simply stand for Immediate Or Cancel (IOC) orders. As you get more and more familiar with trading terms and slang, you might realize that each term is supposed to be linked with others, which form this sort of conjoined strategies. These strategies are usually what result in successful trading, rather than speculation.
UCC ID in Upstox simply means Unique Client Code. Now, let's discuss all about UCC ID in detail. A unique ID for each client that can be used while you log in your Upstox account. Once you submit your application, and complete all the demat and trading account opening formailities, a UCC ID shall be generated for your individual account that's forwarded on your e-mail id and mobile number.
They are the same brand. There is no difference as since 2012, RKSV started offering retail broking. But in 2016, the company renamed itself Upstox. Every segment that Upstox has to offer is one and the same with the only different being in the name and nothing else.
MTM in Upstox refers to "mark to market" and is used to determine the margin between the market value and the book value of an asset. It records the value of an account with respect to the change that takes place in its assets and liabilities due to price fluctuation in the market.
Yes, Upstox is safe, good and a very reliable stock broker for trading and long term investing. Being registered with SEBI, NSE, BSE, MCX and CDSL the stock broker has built a good reputation and a decent customer base over the years.
Yes, the Indian discount broker is backed by Mr. Ratan Naval Tata. He held a 1.33% stake in RKSV Securities (popularly knows as Upstox) at the beginning of the year 2019. RKSV in RKVS Securities stands for the initials of the names of founders (RK for Ravi and Raghu Kumar, and SV for Shrinivas Viswanath).