NRML/MIS
AlgoTest allows you to setup your Execution Settings for live trading the way you want. One of the settings you can set is whether you want to trade on MIS or NRML.
MIS (Margin Intraday Square Off) and NRML (Normal) are two types of orders that traders can use in the stock market.
MIS​
Each broker has its own intraday squareoff time. You have to plan your strategy exit before that intraday squareoff time. If you don't exit your position before that time, the broker will automatically exit your position at that time.
You can use this feature by selecting MIS from the MIS/NRML drop-down in execution settings as shown in the image below.
NRML​
NRML orders are meant for traders who prefer to hold their positions for more than a day or prefer more control when they want to square off a trade. It allows you to exit your position even after broker MIS time.
You can use this feature by selecting NRML from the MIS/NRML drop-down in execution settings as shown in the image below.
Broker Intraday Squareoff Time​
| S.No. | Broker | Square off Timing Intraday Cash | Square off Timing Intraday Equity Derivates | Square off Timing Intraday Currency Derivates | Order Type | NSE | BSE |
|---|---|---|---|---|---|---|---|
| 1. | 5Paisa | 3.20pm | 3.20pm | Yes | Yes | ||
| 2. | A.C. Agrawal Shares | 3:20pm | 3:25pm | Yes | Yes | ||
| 3. | Alice Blue | 3:15pm | 3:15pm | Yes | Yes | ||
| 4. | AngelOne | 3:15pm | 3:15pm | Limit | Yes | Yes | |
| 5. | Bigul | 3:09pm | 3:09pm | Yes | Yes | ||
| 6. | Choice | 3:15pm | 3:15pm | Yes | No | ||
| 7. | Dhan | 3:20pm | 3:20pm | 4:45pm | Yes | Yes | |
| 8. | Finvasia | 3:15pm | 3:15pm | Yes | Yes | ||
| 9. | Firstock | 3:25pm | 3:25pm | Yes | Yes | ||
| 10. | Fyers | 3:15pm | 3:15pm | 4:45pm | Yes | Yes | |
| 11. | FlatTrade | 3:20pm | 3:20pm | Yes | Yes | ||
| 12. | ICICI Direct | 3:20pm | 3:20pm | 4:30pm | Yes | No | |
| 13. | IIFL | 3:15pm | 3:15pm | 4:30pm | Market | Yes | Yes |
| 14. | Jainam (Duck) | 3:19pm | 3:19pm | Yes | Yes | ||
| 15. | Jainam (XTS Dealer) | 3:09pm | 3:09pm | Yes | Yes | ||
| 16. | JM Financial | 3:14pm | 3:14pm | Yes | Yes | ||
| 17. | Kotak Neo | 3:20pm | 3:20pm | Yes | Yes | ||
| 18. | Mastertrust | 3:15pm | 3:15pm | 4:45pm | Yes | No | |
| 19. | Motilal Oswal | 3:15pm | 3:15pm | Yes | No | ||
| 20. | Nuvama Wealth | 3:00pm | 3:00 pm | Yes | No | ||
| 21. | Paytm Money | 3:15pm | 3:15pm | Yes | No | ||
| 22. | Tradejini | 3:14pm | 3:14pm | Yes | Yes | ||
| 23. | Upstox | 3:15pm | 3:15pm | 4:45pm | Yes | Yes | |
| 24. | Wisdom Capital | 3:15pm | 3:15pm | Yes | Yes | ||
| 25. | Zebu | 3:20pm | 3:20pm | 4:45pm | Yes | Yes | |
| 26. | Zerodha | 3:20pm | 3:25pm | 4:45pm | Yes | Yes |
To know more in detail you can read https://algotest.in/blog/mis-vs-nrml/