Lesson Questrade Edge Mobile

How to place an equity (Stock or ETF) trade

Learn how to place an equity trade for a stock or an ETF using Edge mobile including advanced order types, bracket orders and more.

Placing trades using Edge Mobile is easy, intuitive and straightforward while also providing you with the advanced options you need to customize your trading strategy.

Check out the short video below to learn more about placing Stock or ETF trades, or continue reading for more in-depth information.

You can easily make a trade by tapping the green Trade button from almost every screen in Edge Mobile.

If you’re already viewing a specific quote or position, the order entry screen will automatically use that ticker/security for the order.

You can also change the security you’re trading using the magnifying glass icon at the top of the order entry screen to bring up a different ticker.

Let’s take a deeper look at the order entry screen for equities (Stocks and ETFs), Options trading is covered in the article on the right.

Order entry

At the top of the page, you’ll see a recent quote selected security, along with your market status/snap quote button, and the most recent Bid and Ask.

Tip: If you’re subscribed to a real-time options data package, or Advanced Canadian or US data package, the order entry page will also stream and update in real-time.

  1. Tap the Snap quote button to refresh all the information on this page to the most recent quote for this security.
  2. The ticker symbol, name, last traded price and P&L figures will be visible here at the top.
Order entry top streaming

3.    The Bid and Ask prices and sizes (in lots) are visible here.

  • Green and Red colours correspond to “ticks” in price up or down compared to the previous trade.
  • Tap the Bid or Ask to quickly add this price to a Limit order below.

4.    Toggle between trading stocks (including ETFs), Options, or even Options strategies involving multiple legs.

Right below the Bid and Ask, you can switch between buying or selling using the button at the top.

This is also where you’ll choose your order type, learn more about order types here.

Order type and quantity

The following order types are supported in Edge Mobile:

Under Quantity, enter the number of shares you want to buy or sell. If you need a dollar estimate for your order, you can expand the balances drawer at the bottom.

Order price duration and route
  1. If you’re using a type of Limit (or Stop) order, you’ll also need to specify your Price.
  2. Change the order’s duration using the drawer here, the durations available are:
    • Day: Orders valid until 4pm 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.
  3. Select a manual order route/sub-route, or leave it as Auto.
  4. You can also enable a Bracket order using this button
    • Bracket orders can attach a “take profit” and/or “stop loss” order to your main order.
    • We’ll explain bracket orders using Edge Mobile in more detail below.

Note: Your default order quantity, type, account and more can be modified to a custom setting of your choice in the More menu at the bottom under Order entry in your settings.

You can also swipe up, or tap the See all balances button at the bottom of your screen to view more information about your account balances and your estimated order total.

If you want to make the trade with a different account, you can select a different one by tapping the bubble with your account number.

Send order and balances

Lastly, at the bottom of your order entry screen, you’ll see a green Send buy order button, or a red Send sell order button. Tap this to continue to the order confirmation page.

Send sell order

The order confirmation screen

When you send your order using Edge Mobile, a confirmation screen will be shown which summarizes key details about your order.

  1. At the top, you’ll see the order summary.
    • This is shown in green or red depending on if you’re buying or selling.
  2. The account used for the trade.
    • Please pay close attention to this if you trade with multiple accounts frequently.
  3. The approximate trade value and commission charged for this order.
Order confirmation top

In the middle of your order entry screen, you’ll see your change in balances as a result of this trade.

Order confirmation balance changes

If your trade executes, the approximate new balances for your buying power and max buying power will be shown at the bottom.

Lastly, once you’ve confirmed the details Send your order or Cancel with the Do No Send button at the bottom of your screen.

Order confirmation Buy or cancel

Once you tap Send order, it’s immediately sent to the relevant exchange. (Or queued if placed outside of venue hours).

Interested in trading outside of regular market hours? (9:30 am to 4:00 pm ET)

Learn more about pre and post market trading here.

Don’t need to see the order confirmation screen every time? You can also turn this off in your settings on the More page.

This can be helpful if you’re making extremely rapid transactions where a few seconds matters, but can also be potentially risky. With order confirmation turned off, it can put you at risk of an unintentional trade. Due to this, we highly recommend keeping this feature on.

Bracket orders

Edge Mobile gives you the power to place bracket orders on the go, opening up more trading opportunities while you’re away from your desk.

Bracket orders are additional, conditional orders attached to a “primary” order. These usually take the form of “take profit” and “stop loss” orders that are sent after your primary order executes.

Learn more about bracket orders and how they work in this article.

Bracket order button

To set up a bracket order, simply tap the button on the main order entry page right below the Route and Sub-route to bring up additional options.

On the next screen, you’ll be able to add your Profit and Loss orders individually, or at the same time if you’d like.

Profit orders are available as Limit orders. Learn more about limit orders in this article.

At the top, a mini-quote is visible with the security’s symbol, description and daily P&L.

  • Tap the snap quote button to refresh your quote at any time.
bracket order entry streaming

Right below, your bracket order summary is shown. This displays your primary order along with your profit and/or loss order(s). By default this is blank until you add your conditional order(s).

Bracket order profit options
  1. Turn your profit order on or off with this button.
  2. After enabling the profit order, you can change your desired limit price, or use an offset.
    • We’ll cover Limit offsets down below.
  3. Lastly, choose between a Day or GTC duration for your conditional order.
    • Note: The profit and loss orders must have the same duration.

     

Loss orders work almost the exact same as profit orders, only with more advanced order types available.

Bracket order loss offset

With Edge Mobile, the following types of loss orders are available:

  • Stop orders
  • Stop limit orders
  • Trailing stop orders
  • Trailing stop limit orders

Learn more about the different order types available at Questrade.

Limit offsets

When using a limit order as part of a bracket, Edge Mobile gives you the ability to use custom limit offsets instead of a set price per share.

  • $ Offset difference allows you to set the limit offset in dollars and cents.
  • % Offset difference allows you to set the limit offset in percentage terms.

Both of these offsets are based on the final execution price of your primary order.

For example: If the primary buy order above executes at $125, and you have a take profit limit order with a 10% offset, this will trigger at $137.50 ($125 * 10% = $12.50).

After you add your desired bracket orders, you can easily preview your entire order before tapping the save button. Your profit and/or loss orders will be visible right below the security’s quote at the top.

Please confirm that everything looks good to go, then tap the green Save button to return to the main order entry screen.

Save button brackets

Order routes and sub-routes (ECNs)

Edge Mobile also gives you more customization options around your desired order route and sub-route.

Many traders simply use the default AUTO route for most orders, but if you’re interested in a deeper level of control over your order, this is where order routes come in.

Learn more about order routes here.

To customize your order route, simply tap the button on the main order entry page below duration and quantity.

Order Route US

The following routes are available for most US securities:

  • NASDAQ
  • ARCA
  • MNGD
  • IEX
  • BATS
  • EDGA
  • EDGX

To customize your order’s sub-route, tap the button at the bottom of the order entry page below routes.

Order sub route CAN

The following sub-routes are available for most Canadian securities:

  • TSX
  • CX2
  • AQN
  • AQL
  • CXC
  • OME
  • OM2

Note: The information in this blog is for educational purposes only and should not be used or construed as financial or investment advice by any individual. Information obtained from third parties is believed to be reliable, but no representations or warranty, expressed or implied, is made by Questrade, Inc., its affiliates or any other person to its accuracy.

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