With Robinhood Gold, we are introducing a new way to trade before the markets open and continue after they close, every day.
What are the new market hours?
Traditionally, the markets are open from 9:30AM EST - 4:00PM EST during normal business days. With extended hours trading, you’ll be able to trade:
- Pre-Market opens 30 minutes earlier starting at 9:00AM EST
- After-Hours continues for 120 minutes (2 hours) until 6:00PM EST
That’s an extra two and a half hours of market access, every single day.
How is extended hours trading useful?
Here are two common uses for extended hours trading:
The companies you own may announce quarterly earnings after the market closes. Depending on the outcome, the price can move much more than during the full day. With after hours, you can capture these opportunities as they happen.
Activity in Foreign Markets
Foreign markets—such as Asian or European markets—can influence prices on US markets. Activity on these markets happens outside core US market hours, so with after hours you can capture opportunities around these events.
Are the rules for extended hours trading different?
The most important difference is that there is less liquidity after hours, meaning there are fewer other participants in the market for you transact with. That means your execution price can vary more than during core market hours, so we suggest using limit prices if you want to get an exact price. You can learn more by checking out our Extended Hours Trading Disclosure.
All market orders, with the exception of market sell orders placed during the day session, will remain pending until the end of the after-hours session. Market sell orders placed during the day session will expire at the end of the day session.
To protect you from increased volatility in extended hours trading, we automatically convert market orders into limit orders with a 5% collar. Please note that not all stocks support market orders in the extended hours trading sessions. Placing a market order while all trading sessions are closed will queue the order for the opening of the next day session (not pre-market).
All limit orders in a Robinhood Gold account are valid during both extended-hours and regular session. If the stock is available at your target limit price and lot size, the order will be executed at that price or better.
Due to low volume and wide spreads, stop orders will not be triggered during after-hours sessions. If you make a stop limit or stop loss order during an extended hours session, it will be queued for market open of the next trading day, and stop triggers will never be met during an extended hours session.
To indicate how long your market, limit, or stop order will remain active, you can set a time-in-force. The time-in-force options include Good-for-Day (GFD), and Good-’til-Canceled (GTC).
A GFD order placed during the pre-market, day, or after-hours session will automatically cancel at the end of the after-hours session if unexecuted. Any GFD order placed while all sessions are closed are queued for the open of the next session.
Any GTC order placed during the pre-market, day, or after-hours session remains active through all sessions until either executed or cancelled by you.