When you send an order to buy or sell a security (Stock, ETF or Option), you can choose a specific time duration that your order is valid for.
Every order consists of 2 parts, the Order Type, and the duration.
Lesson Basic order types and durations
Order durations
Learn more about the different order durations available at Questrade.
/clock-icon.png?sfvrsn=fcd65bf_2){kind=icon}
The duration determines how long your order will be valid for. If your order has not filled (executed) by the end of the duration, your order is automatically cancelled.
At Questrade, we offer up to 6 different durations for your order, depending on the trading platform of your choice.
With QuestMobile, and Questrade Trading you can choose from either a Day duration, or a ‘GTC’ (Good ‘till cancelled) duration.
Day duration
The order remains active until the end of the current trading day (4pm ET). If the order is not filled by the end of the trading day, the order is automatically cancelled.
If you place a Day order outside of regular trading hours, your order will be queued for the following trading day.
GTC duration
The order remains active until it is filled, or the order is manually cancelled.
Important reminder: The maximum length of time any order can remain active is 90 calendar days.
Note: As of Tuesday Oct 24, 2023, certain OTC securities are no longer able to be traded with GTD/GTC orders.
If you enter a GTC/GTD order for a security that is affected, you will receive an order rejected notification.
Questrade Edge
With the Questrade Edge platforms, you can also choose from an additional 4 advanced order durations:
| Order duration | Description |
|---|---|
| GTD (Good ‘till date) | The order will remain active until the specified date. If the order is not filled by the chosen date, the order is automatically cancelled. |
| GTEM (Good ‘till extended market) | The order remains open for the current trading day including both pre- and post-market hours. If the order is not filled by the end of post-market hours, the order is cancelled.
Read more about pre and post market trading. |
| IOC (Immediate or cancel) | All or part of the order will fill immediately. Any portion of the order that is not filled immediately is cancelled. Traders will typically use IOC, or FOK orders (below) to avoid having their order filled across a wide range of prices. |
| FOK (Fill or kill) | This order will fill immediately, and completely, or not at all. If the order cannot be filled in its entirety, the order is cancelled.
An FOK order combines the properties of an All-or-none (AON) order condition and an immediate-or-cancel (IOC) duration. This type of order is typically used for larger orders of many thousands of shares. |
Note: The information in this blog is for information purposes only and should not be used or construed as financial, investment, or tax 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.
Related lessons
Read next
Questrade trading platforms
Discover all of Questrade’s trading platforms and decide which one is best suited for you, and your investment style.
View lessonExplore
Accounts 101
Explore the different account types available in Questrade and determine the right account for you.
View lesson
