What are the key considerations for trading outside Regular Trading Hours (RTH)?

Trading outside Regular Trading Hours (RTH), which includes pre-market and after-hours sessions, requires special attention to certain factors:

1. Order Types and Eligibility:
   • Market orders are generally not accepted during extended trading hours.
   • Fractional share orders are not eligible for trading outside RTH.
   • Penny stocks are typically excluded from trading outside RTH.
   • Stop Limit orders can be set to work Outside RTH, but plain Stop orders do not work outside regular trading hours.
2. Enabling Outside RTH Trading:
   • To place trades outside of regular market hours, you need to enable the "Outside RTH" option. Here is how to do it on different platforms:
     1. TWS (Trader Workstation):
        • Mosaic: On the Order Entry panel, click the Time-in-Force (TIF) drop-down and check the "Fill Outside RTH" checkbox.
        • Classic: On an Order Row, click the Time-in-Force (TIF) drop-down and check the "Fill Outside RTH" checkbox.
     2. IBKR Mobile:
        • iOS: In the order parameters on the Order Ticket, use the "Outside RTH" toggle to enable the feature.
        • Android: In the order parameters, use the Time-in-force drop-down to display "Outside RTH," then use the toggle to enable it.
     3. Client Portal:
        • When setting up order details, use the "Outside RTH" toggle to the right of the Time-In-Force field.
3. Trading Hours:
   • Outside RTH orders are typically eligible for execution between 04:00 and 20:00 EST.
   • This includes pre-market (04:00-09:30 EST) and after-hours (16:00-20:00 EST) sessions.
   • These orders will not be active during the Overnight session (20:00 through 03:50 EST).
4. Product-Specific Considerations:
   • Always check the specific trading hours for the products you are interested in, as they may vary.
   • You can do this by right-clicking on the ticker row in TWS and selecting Financial Instrument Info.
5. Additional Risks:
   • Trading outside regular hours may involve additional risks, such as lower liquidity and higher volatility.
6. Troubleshooting:
   • If you are unable to place an Outside RTH order:
     • Identify the specific product you are trying to trade, as availability for outside RTH trading can vary by product.
     • Review the order parameters to make sure they comply with outside RTH trading rules.

Additional Information

• Outside Regular Trading Hours Study Guide
• Outside RTH Orders Information