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I have a brokerage account with Questrade that I've been using to trade on American and Canadian markets.

Recently, a new ticker ACDVF was established for Air Canada in the U.S.

I tried to buy this stock on Friday and Questrade rejected the order with the reason "Ticker not found" even though the ticker was found and on my list. Upon calling Questrade, I was told that I saw the error message because this specific stock cannot be electronically traded and needs to be physically traded.

I am wondering as to why this is and if this is a permanent way of operation for this stock?

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Depends on your account settings and the products you are allowed to trade on your account. If you check the link you posted, there is OTC mentioned. If you aren't set up/allowed to trade in OTCs from your account, you willn't be allowed to.

I would call them up and ask them how to trade in OTCs. They might not be so straightforward to be set up, so might help in calling them.

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