Extended-Hours Trading at Merrill Edge
Are you interested in trading before the stock market opens or after it closes? It might sound surprising, but it’s not just for professionals. With a Merrill Edge account, you can do this at no extra cost. Since Merrill Edge has a $0 commission schedule, it’s about as inexpensive as stock trading gets.
On Merrill Edge’s website, the standard trade ticket can’t be used for extended-hours orders. This is the ticket you see when you enter a ticker in the site’s search bar and choose Trade from the drop-down list. If you do that, you won’t be able to submit a pre-market or after-hours trade.
Instead, hover over the Trade link in the top menu and click on Stocks & ETFs. On the order form that appears, select the Extended Hours tab at the top. You’ll now be on the extended-hours ticket, which you can use to send orders before the market opens or after it closes.
The only available order type in this mode is limit. There’s no duration option, because the order is only good for one extended session. If it isn’t filled, it will be cancelled automatically.
Pre-Market and After-Hours Trading at MarketPro
MarketPro is Merrill’s most advanced trading platform, and it, too, supports extended-hours trading. Surprisingly, though, it doesn’t offer a more sophisticated order ticket than the website does. Like on the website, only limit orders can be used for extended-hours trades.
To submit a pre-market or after-hours order, remember to click the Extended Hours link at the top of the ticket, just as on the website. By default, the ticket is located in the lower-left corner of MarketPro.
Pre-Market and After-Hours on Mobile App
Merrill Edge also includes extended-hours trading on its mobile app. As with its other platforms, there is an extended-hours link at the top of the ticket that you must select to access pre-market or after-hours sessions. Use a limit order, and you’re all set.
Merrill’s pre-market session starts at 7:00 am, Eastern Time, and continues until the regular open at 9:30. Its after-hours session begins at 4:01 pm and ends at 8:00 pm.
Extended-Hours Trading at Webull
If you’d like more time than Merrill Edge offers, you could consider creating a Webull account.
Webull’s pre-market period begins at 4:00 am, EST, and continues until the market opens. Meanwhile,
Merrill Edge’s early session starts 3 hours later.
And Webull’s late session goes from the closing bell to 8:00 pm.
Altogether, Webull gives you 3 extra hours.
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There are no surcharges for extended-hours trades at Webull.
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Up to $7,500 bonus and 20 free stocks at Webull!
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Robinhood Overnight Trading
Unlike Merrill Lynch, Robinhood offers crypto trading, and cryptocurrencies
trade 24/7. The broker also supports 24/7 trading in many heavily-traded stocks and ETFs.
Open Robinhood Account
Up to $200 free stock + 1% IRA match + transfer fee refund at Robinhood.
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Benefits of Trading in Extended Hours
There are several advantages to trading outside the normal schedule. Whether you’re reacting to overnight events, capitalizing on earnings releases, safeguarding your positions during downturns, or seizing volatility in pre-market hours, having access to these sessions can be quite valuable. Another perk is that you can take or manage positions before most traders are active.
Considerations When Trading in Extended Hours
Although extended-hours trading has many benefits, it’s also important to be aware of certain factors. During these sessions, volume is generally lower, which can raise both risks and potential rewards.
One issue is that bid-ask spreads tend to widen. This can result in less favorable pricing.
Another factor is that only limit orders are permitted in extended sessions. Volatile and thinly-traded markets may cause orders to remain unfilled, or the price could jump past a limit order.
Lastly, stocks that attract a lot of attention before or after the market often experience strong one-sided trading. Being on the wrong side of a swift move can be costly.
Updated on 4/4/2025.
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