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Trade API (64)

Are market orders allowed? Why did my market order turn into a limit order?

Yes, but every market order is converted into a limit order before it reaches the exchange, because SEBI doesn't allow unprotected market orders from retail algos. A market order is priced slightly away from the last traded price, and a stop loss market order slightly away from its trigger. That's why your order book shows a limit order.

By default the buffer is 0.5% to 2% for equity and futures, and 1% to 5% for options, depending on the price. You can set your own buffer anywhere between 0.01% and 100%.