I wish to raise a serious concern regarding the behaviour of Super Orders.
Today, before the market opened, I attempted to cancel my pending Super Orders because the market was expected to open with a significant gap down. I no longer wanted my buy orders to be executed.
However, I found that Dhan does not allow cancellation of pending Super Orders while the market is closed. When I tried cancelling the orders through both the web platform and the mobile application, the cancellation was not permitted. Your support team also informed me that Super Orders can only be modified or cancelled after the market opens.
This creates a significant risk for investors.
If a trader changes their market view overnight due to important news or global events, they should have the ability to withdraw their pending orders before they are sent for execution. Preventing cancellation until after the market opens exposes clients to the risk of unwanted executions, particularly on days with large gap-up or gap-down openings.
Most leading brokers allow clients to modify or cancel pending orders before they are transmitted for execution at market opening. This is an important risk management feature and provides investors with control over their pending orders.