Questrade.com | Trade before market open

 To set a purchase order before market open with Questrade, you need to place a limit order (not a market order) and set the duration to "Good 'till Extended Market" (GTEM) for U.S. stocks, as pre-market trading for Canadian securities is unavailable. 

Here's a breakdown:

1. Understand Order Types and Durations:

• Limit Order:

  With a limit order, you specify the maximum price you're willing to pay for the stock. The order will only be executed if the stock price reaches or drops below your limit price. 
• Market Order:

  A market order is executed at the best available price in the market at the time the order is placed. Market orders placed outside of trading hours are queued and will be sent to the exchange at market open the next trading day. 
• Order Durations:

  • Day: Orders valid until 4 pm ET (market close). 
  • Good 'till Canceled (GTC): Orders valid for up to 90 days. 
  • Good 'till Date (GTD): Orders valid until a certain calendar date up to 90 days. 
  • Good 'till Extended Market (GTEM): Orders that are eligible for execution outside of regular market hours. 

2. Placing a Pre-Market Order (U.S. Stocks):

• Select a Limit Order: Choose the "Limit" order type. 
• Specify the Limit Price: Enter the maximum price you're willing to pay for the stock. 
• Change Order Duration to GTEM: Change the order duration to "Good 'till Extended Market" (GTEM). 
• Review and Send: Carefully review your order details and then send the order. 

3. Important Considerations:

• Pre-market Trading for Canadian Securities: Pre-market trading is not available for Canadian securities with Questrade. 
• U.S. Pre-Market Hours: Questrade's U.S. pre-market hours are from 7:00 am to 9:30 am ET. 
• Order Execution: Your order will be queued and will be sent to the exchange at market open the next trading day if it is a market order or it will be executed if the market price at open is at or below the limit price you set.