What time do pre-market and after-hours sessions open and close?

What is pre-market trading?

Pre-market trading takes place before the regular NYSE and NASDAQ session opens at 9:30am Eastern Time. The pre-market session typically begins at 4am ET for US equities at major brokers, though retail trading activity is most concentrated between 7am and 9:30am ET when volume is somewhat higher. In UK time, the 4am ET start corresponds to 9am GMT in winter (10am BST in summer), and the 9:30am ET open corresponds to 2:30pm GMT (3:30pm BST).

Pre-market trading became increasingly significant as quarterly earnings reports are frequently released outside regular hours, either before the market open or after the close. Companies like Apple, Nvidia and Microsoft tend to report their results after 4pm ET (after-hours), creating immediate pre-market price discovery when the next session begins.

What is after-hours trading?

After-hours trading begins at 4pm ET (9pm UK time in winter, 10pm BST in summer) when the regular NYSE and NASDAQ session closes, and runs until 8pm ET (1am UK time in winter, 2am BST in summer). Like pre-market trading, after-hours sessions use ECNs rather than the main exchange, matching buy and sell orders electronically.

The after-hours period is particularly important for earnings season. Most US companies report quarterly results after the market close, generating immediate price reactions in after-hours trading that set the tone for the following day's regular open. Sharp moves of 5-20% after earnings are not uncommon in after-hours, especially for technology stocks.

US extended trading hours in UK time

Note: All times are approximate and shift by one hour when UK daylight saving (BST) differs from US daylight saving (EDT). There are brief transition windows in March-April and October-November when the two regions shift clocks on different dates. US stock market hours covers the full regular session schedule including US public holidays.

How to access extended hours trading with IG

We offer exclusive extended hours on selected US shares, indices, forex pairs and options. For our Extended Hours stock offering, spread bets and CFDs are available Monday to Thursday 9am to 1am UK time, and Friday 9am to 10pm UK time. We also offer a 24/5 offering on selected markets (Monday to Friday, 1am to 10pm UK time). This means UK traders can access US equity price movements significantly outside the standard 2:30pm to 9pm UK regular hours window.

Our extended hours offering goes beyond what most UK providers offer because we price these markets ourselves as market maker, rather than routing through the underlying US exchange's ECN. This means access is available even when the underlying US exchange's extended session is closed. Details of specific markets and hours are available on our after-hours trading page.

Risks of pre-market and after-hours trading

Extended hours trading carries specific risks that are less prevalent during the regular session:

• Wider spreads: lower volume means bid-ask spreads are materially wider than during regular hours. This increases the effective cost of each trade.

• Lower liquidity: fewer participants means larger orders can move the price significantly. Market impact costs are higher than during the regular session.

• Higher volatility: prices can move sharply on thin volume, particularly around earnings releases. A large institutional order can create a move that reverses quickly when the regular session opens.

• Limit orders only: most brokers accept only limit orders during extended sessions, not market orders, to protect traders from extreme execution prices.

• Gap risk: prices established during extended hours do not always persist into the regular session. A stock that rallies 8% in after-hours following an earnings beat may open lower when the full market participates in price discovery at 9:30am ET.

These risks apply to all extended hours markets. The same caution about timing and liquidity applies to commodity markets: gold trading hours similarly concentrate the best execution conditions during peak institutional hours rather than at the edges of the 24-hour commodity session.

Additionally, spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with us. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

What drives pre-market and after-hours price moves?

The most significant drivers of extended hours price movements are:

• Earnings releases: the single most important driver. Most US companies report after the regular close or before the open. Results versus consensus expectations drive immediate after-hours moves that set the market's opening tone.

• Corporate announcements: M&A deals, management changes, product launches, regulatory approvals and strategic updates frequently release outside regular hours to give institutional investors time to digest them before markets open.

• Economic data: US economic releases at 8:30am ET (1:30pm UK time) land during the pre-market period, not the regular session. NFP, CPI and GDP data therefore first move equity futures and then the pre-market before the regular session open.

• Global news: geopolitical developments, overseas market moves and central bank communications from other time zones can all create pre-market moves in US equities before New York opens.

These dynamics affect not just individual stocks but also index-level products. The largest UK companies by market cap include several with significant US revenue exposure, meaning US after-hours moves can create gap-up or gap-down openings in their shares when the LSE opens the following morning.

Is extended hours trading right for you?

Extended hours trading suits experienced, active traders who specifically need to react to earnings releases or other announcements outside regular session hours. For most investors building long-term portfolios, the regular session provides sufficient access with better execution conditions. The additional risks of thin liquidity, wide spreads and gap volatility make extended hours particularly unsuitable for position sizing mistakes or for investors who are not monitoring positions actively.

A similar liquidity consideration applies in commodity markets. Cocoa market volatility illustrates how thin markets can produce extreme moves that reverse when main-session liquidity returns , the same dynamic that makes pre-market and after-hours trading potentially treacherous for unprepared traders.

Pre-market and after-hours trading FAQs