Short answer

A charge of ₹50 + 18% GST is levied when clients call iRage to place, modify, or cancel an order or when positions are squared off by iRage due to margin shortfall. This charge is known as call and trade charge.

Call and trade charges

You will be charged ₹50 + 18% GST when you call iRage to:

Place an order

Modify an existing order

Cancel an order

Square off positions due to margin shortfall

Auto square-off charges

You will be charged ₹50 + 18% GST when iRage squares off your intraday positions (MIS and CO) that you haven’t closed before the square-off time. If you have an active limit order linked to your open position, iRage will cancel that open limit order and simultaneously square off your position. In this scenario, you’ll only be charged once for closing the position.

Apart from intraday orders, if RMS squares off positions for any other reason (such as margin shortfall, peak margin penalty, or other risk management actions) and cancels open orders, you will be charged for both order cancellation/modification as well as for closing the position.

The square off time is as follows:

The square off time is subject to change and is updated on arrow.trade/marketintel/bulletin.

As per iRage’s policy, a maximum of 30,000 quantities per order are auto-squared off to avoid price volatility in the instrument. If your position has higher quantities, iRage will square it off through multiple orders, and you will incur multiple auto square off charges.

Example scenario

Assume 1,00,000 quantities need to be squared off. They will be squared off in the following manner:

Call and trade (auto square off) charge will be ₹200 (₹50 * 4) + 18% GST.

For F&O, the maximum quantity allowed to be auto-squared off in one order is the quantity freeze limit. The quantity freeze file can be downloaded from the NSE website (WEB).

Broker details

iRage Broking Services LLP (SEBI registration INZ000011262), product name Arrow. Registered office: Gift City, Gandhinagar.