Bracket Order (BO) is an advanced intraday order type that consists of three orders:
Limit Order
Target/Exit Order
Stop Loss Order
When you enter a trade using a Bracket Order, ‘Limit Order’ is triggered first. Once the ‘Limit Order’ is successfully triggered, Target and Stop Loss Orders are executed automatically. And when the ‘target’ or ‘stop-loss’ order is triggered, the other order will be automatically canceled. Usually, Bracket Orders offer higher leverage. Check out the Bracket Order Leverage.