New online trade types: trailing stop limit orders, short selling and uncovered options
Longer Good Through orders
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There is risk when placing a market order before a trading session starts because the price could move significantly, and your order may be filled at a price that you weren’t expecting. You may also not have enough Buying Power to cover the order if the price moves significantly before trading begins for the day.
You can, however, place limit orders outside of market hours.
To get more information about trailing stop limit orders, short selling and uncovered options, check out our trading tutorials in the Knowledge Bank.
Trailing stop limit orders are available to everyone.
Short selling requires a margin account. To apply for a margin account, contact us.
Uncovered options require a margin account and additional trading privileges. For more information, contact us.
Buying Power provides you with a real-time, complete view of the cash balance, open orders and margin available in your Investor’s Edge account to buy securities. The calculation includes:
The loan value for marginable securities (only applicable to margin accounts)
Buying Power is based on your cash balance and includes open orders. It’s calculated separately for each currency in your registered account.
Buying Power includes the cash balance from all currencies held in your account, as well as open orders. Your Buying Power is displayed in Canadian dollars.
Buying Power includes margin available and the cash balance from all currencies held in your account, as well as open orders. Your Buying Power is displayed in Canadian dollars.
The Buying Power calculation gives you a real-time view of the funds you have available in your Investor’s Edge account to place a trade. Because this calculation doesn’t include your bank account balances, you’ll no longer be able to “Pay To” or “Pay From” your bank account to settle a trade. You can do an online cash transfer to move funds from your bank account to your Investor’s Edge account in order to make the funds available for trading.
The Margin Available calculation is based on your positions at the previous day’s close. It doesn’t include any open orders.
The Buying Power calculation includes open orders, intraday cash balances, as well as real-time market and loan values of your holdings.
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