Extended hours orders are available on certain US stocks during the pre-market trading session.
We will send your extended hours orders as instant orders to our US broker.
Due to the nature of the extended hours trading sessions, these orders will be converted by our US broker to limit orders with a 2.5% difference from the best bid or offer (BBO) at the time the order is submitted. This is known as a price “collar”. It is in place to protect our customers from quick price swings.
In practice, the collar means that your order will not execute if it is 2.5% above the BBO for a buy order or 2.5% below BBO for a sell order.
Your order will remain pending for one minute and will be rejected if the price stays outside the 2.5% collar.
Please note that you will not be able to place a pre-market order on the effective date of a corporate action.