Questrade, the online trading platform focusing on US and Canadian equities and US options, has introduced two new features on its IQ Edge 4.2 platform: conditional orders and advanced stock and option screening.
Most In-Demand Features
The platform operator said these were the two features most commonly requested by the users of its platform. They will go live as of December 12.
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Conditional orders allow traders to set a time, a price and a volume of trades they want to execute, and when the time comes, the order triggers automatically. Users can use a maximum of three conditions that are based on the price and volume of stocks to be traded, the price of the underlying assets if the order is for options, and the volumes for a specific stock.
Preferred Criteria-Based Trading Options
The new screening option involves monitoring of markets for stocks that fall under a set of criteria determined by the trader, regarding price, trading volume and fundamentals. The options provide traders with the opportunity of conducting their own research in order to choose the best trading opportunities, Questrade explains.
Among the criteria applicable for the screening option are implied volatility, historical volatility, total option volume and total open interest. Users of the IQ Edge 4.2 platform can compare and rank equities and options based on these criteria and select the ones they consider to be the most potentially profitable.