Can we send Market orders through any Algo system? Are there any extra charges for the same from Dhan or any SEBI restrictions?
SEBI has issued directions for Algo Platforms to follow. You can technically use Dhan with any trading partner or algo partner that has token based implementation, this is most standard in the industry. Here is a list of partners that Dhan has integrated with: https://dhanhq.co/featured-partners/
There are no restrictions or any extra charges by Dhan on orders sent via any trading partners or algo parters. All these orders are sent for execution to exchange.
Some Algo platforms or Prop trading desk have their own algo strategies, in such cases they need to take approval of same from exchanges.
@astrosantosh22 - I think your question is related specific to market orders via algo platforms. I think as per the recent SEBI circular prop-desk or algo platforms should allow only limit orders. SEBI has restricted market orders. Read that circular few days back. There was even a discussion thread on Dhan community. Please check that.