Tradejini provides clients an exclusive feature called as Market protection for all market orders.  This is a user defined field which is available in the settings menu and it acts as a restriction upto which an Market order either up or down i.e., buy or sell can get executed limiting the risk to the trader in case of illiquid stocks and where the market depth is very limited.   It also acts as an additional step during market volatality or where huge market orders can cause losses to traders while placing market price orders.  This is in addition to certain limits already in place by Exchanges which are listed out here under

The market order might get executed as a limit order due to the Market Price Protection (MPP)  feature enabled by the exchanges. This applies to all instruments in BSE and certain illiquid stocks in NSE. MPP is designed to minimize the risk of orders being executed at prices significantly different from the Last Traded Price (LTP) due to bid-ask spread variations.

On NSE, when a market order is placed for an illiquid stock, it could either be executed as a limit order or rejected based on specific criteria outlined by the exchanges. (Link)

For BSE, a market order is executed as a limit order. The execution takes place at the next best available bid or offer within 3% of the LTP.

To know more, please connect with our support team by writing to us at help@tradejini.com