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Firstrade Extended Hours Trading (Pre Market and After Hours)


2021 Firstrade extended hours trading fees, broker surcharge, and time period. How to enter Firstrade pre market and after market buy/sell orders/trades.



Extended-Hours Trading Time at Firstrade


When 6½ hours just aren’t enough for your trading demands, there are the extended sessions. While some brokers offer just a pre-market or after-hours session, Firstrade clients get to trade during both of these times, plus the regular market session.

The early bird session at Firstrade starts at 8:00 am, EST, and finishes 5 minutes before the opening bell, which is at 9:30 am. The company’s after-hours session begins 5 minutes after the bell (this will be 4:05 pm) and closes at 8 pm. Thus, Firstrade clients have pretty much a 12-hour trading session.

To compare, $0-commission broker Webull’s pre-market session opens at 4:00 am, EST and lasts till 8:00 pm, EST.


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Extended Hours at Firstrade


Any order that is unexecuted at 8 o’clock expires automatically. Orders that are placed after 8 pm will go into effect at 8 am the following weekday morning.

Limit orders only are accepted for the extended-hours periods, and over-the-counter investments can only be traded during the day session.

What we really like about Firstrade’s service is that the broker does not charge anything extra for orders submitted during extended hours (some brokerage houses do charge for this). Firstrade’s policy is really amazing given the fact that the company already charges an unbelievable $0 for trades.


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Placing Extended-Hours Trades on Firstrade’ Platforms


When you’re ready to buy or sell a security at Firstrade, and you want your trade to be valid for one of the extended periods, the broker’s software gives you the ability to specify your choice. On both the website and the trade bar (there isn’t a browser platform or desktop system), you can select “Pre Mkt” if you want your order to be valid only for the pre-market session. The second choice is “After Mkt,” which sends the order to the after-hours session. And the final choice is “Day+EXT,” which sends an order to both extended-hours periods plus the day session.


Disadvantages of Regular Market Hours


There are many justifications to jump into the after-hours period or pre-market session. Perhaps the most common reason investors flock to these times is that companies headquartered in the U.S. release their earnings during these times. They don’t release earnings during the regular market session.

If you can trade during extended hours, you can buy a stock before it makes a big jump during the regular session. Or if earnings are unexpectedly bad, you can sell before everyone else does. Getting in before other traders can mean thousands of dollars, or even millions depending on how many shares you trade.


Comparison


tastyworks customers get to start trading in the morning at 7 o’clock, an hour before Firstrade’s pre-market session opens. At the same time, tastyworks’ after-hours period closes two hours before Firstrade’s does.

Some broker-dealers offer no extended-hours periods at all. Dough is one such firm.


Disadvantages of Trading Outside of Normal Sessions


Since we noted some of the benefits of trading during extended hours, we should also point out some of the drawbacks. Liquidity, volatility, partially filled orders, and larger bid-ask spreads are some of the increased hazards during these times.


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