Merrill Edge Trading Hours: Everything You Need to Know
LAST UPDATED: April 1, 2023 | By Conrad Golly
Merrill Edge is a well-known online brokerage firm that provides investment solutions to its clients. One of the most important factors to consider when trading is the trading hours. Merrill Edge offers extended trading hours to its clients, which enables them to trade before and after the regular market hours. This feature is particularly useful for investors who want to react to news or events that occur outside the regular trading hours.
Merrill Edge trading hours: Merrill Edge’s pre-market trading period starts at 7:00 am, Eastern Standard Time (EST), and runs until the market opens at 9:30 am EST. The after-hours trading period starts at market close, which is at 4:00 pm EST, and runs until 8:00 pm EST. These extended trading hours allow investors to trade when the market is closed, which can be beneficial for those who want to take advantage of price movements that occur outside regular trading hours.
While extended trading hours can be beneficial, it’s important to note that they come with some risks. The market during extended hours can be less liquid, which can lead to wider bid-ask spreads and increased volatility.
News or events that occur outside regular trading hours can have a significant impact on the market, which can result in unexpected price movements. It’s important to understand the risks and benefits of extended trading hours before deciding to use them.
Table of Contents
What are Merrill Edge Trading Hours?
Merrill Edge is an online brokerage platform that offers a full suite of investment products and services to customers of Bank of America. The platform allows investors to trade stocks, mutual funds, and ETFs, along with other securities. However, it is important to note that the platform has specific trading hours that investors need to be aware of.
The regular market hours for Merrill Edge are from 9:30 am to 4:00 pm Eastern Time, Monday through Friday. During this time period, investors can place trades for stocks and other securities. However, it is important to note that the price of securities can be subject to uncertainty during this time period, especially during news events or earnings releases.
For investors who want to trade outside of regular market hours, Merrill Edge offers extended hours trading sessions. The pre-market trading session starts at 7:00 am Eastern Time and ends at 9:30 am Eastern Time. The after-hours trading session starts at 4:00 pm Eastern Time and ends at 8:00 pm Eastern Time.
During the extended hours trading sessions, investors can place trades for stocks, ETFs, and other securities. However, it is important to note that there are risks involved with trading during these time periods. The price of securities can be subject to greater uncertainty, and there may be fewer market makers available to execute trades.
Merrill Edge offers a variety of tools and resources to help investors manage their trades during extended hours trading sessions.
The Merrill Edge mobile app allows investors to place trades automatically, and the platform offers a full suite of financial advisors and customer service representatives to help investors navigate the risks and potential advantages of trading during these time periods.
It is also important to note that there are specific rules and guidelines that investors need to follow when trading during extended hours. For example, some securities may be subject to an ex-dividend date, which can impact the price of the security during extended hours trading. Additionally, limit orders may be automatically canceled if they are not executed during the regular session.
To take advantage of extended hours trading, investors need to have a self-directed investing account with Merrill Edge. The platform offers a variety of account opening options, along with a Preferred Rewards program that can help investors save on the cost of trades and other fees.
Merrill Edge Trading Hours Schedule
Regular Trading Hours
Merrill Edge offers trading during regular market hours, which are from 9:30 a.m. to 4:00 p.m. Eastern Time, Monday through Friday, except for market holidays.
During these hours, customers can trade stocks, ETFs, mutual funds, and other securities using their Merrill Edge account. Merrill Edge customers can place trades through the Merrill Edge website or mobile app, or by contacting customer service representatives.
Extended Hours Trading
Merrill Edge offers extended hours trading for customers who want to trade before or after the regular market hours. The after-hours period is from 4:00 p.m. to 8:00 p.m. Eastern Time, Monday through Friday, and the pre-market period is from 7:00 a.m. to 9:30 a.m. Eastern Time, Monday through Friday.
During these sessions, customers can trade stocks and ETFs, but not mutual funds or bonds.
It’s important to note that extended hours trading carries additional risks and uncertainties due to lower trading volume, wider spreads, and higher price volatility.
It’s also important to be aware of the ex-dividend date, which can affect the price of a stock during the extended hours session. Customers should carefully consider the risks involved before trading during the extended hours session.
To trade during the extended hours session, Merrill Edge customers can enter pre-market or after-hours orders through the Merrill Edge website or mobile app.
Merrill Edge also offers extended hours trade offers for customers who want to place trades automatically at the opening bell or after-hours session. These offers are subject to additional fees and restrictions.
Customers who have a Merrill Edge account and are enrolled in the Preferred Rewards program can receive additional benefits for extended hours trading, such as $0 online equity and ETF trades and $0 per-contract option fees. Merrill Edge also offers a full suite of financial advisors for customers who need help with their investment strategies.
It’s important to note that extended hours trading is not available for all securities, and some market makers may choose not to participate in the extended hours session. Customers should check the Merrill Edge website or contact customer service representatives for more information about extended hours trading.
Finally, it’s important to be aware that extended hours orders may be canceled if they are not executed during the extended hours session. Customers should carefully review their extended hours document and be aware of the risks involved before placing extended hours trades.
How to Place Trades Outside of Trading Hours
If you’re looking to trade outside of regular market hours, Merrill Edge offers extended hours trading. This allows you to place trades before and after the regular market hours. You can place trades during pre-market and after-hours sessions.
It’s important to note that trading during extended hours comes with its own set of risks.
Before you start trading during extended hours, it’s important to understand the risks involved. The price of securities can be more volatile during extended hours due to lower trading volume, which can lead to price uncertainty. Additionally, news events and market potential advantages can cause significant price changes in securities, making it difficult to predict market movements.
To place trades during extended hours, you can use the Merrill Edge website, the Merrill Edge mobile app, or the Merrill Edge MarketPro® platform. You can also place trades automatically using the Merrill Edge MarketPro® platform.
When you place an order during extended hours, it’s important to note that the order may be automatically canceled if it’s not executed during the extended hours session. Additionally, if you place a trade after the ex-dividend date, you may not be entitled to the dividend payment.
To enter a pre-market or after-hours trade, log in to your Merrill Edge account and select the “Trade” tab. From there, select “Extended Hours” and enter the details of your trade.
It’s also important to note that not all securities are available for extended hours trading. ETF and option trades placed in a Merrill Edge self-directed investing account are not available during extended hours sessions. Additionally, mutual funds and bonds cannot be traded during extended hours.
If you have any questions or concerns about extended hours trading, you can contact Merrill Edge customer service representatives or your financial advisor. Merrill Edge offers a full suite of resources and tools to help investors make informed trading decisions, including the Idea Builder and Order Execution Quality reports.
If you’re a Merrill Edge customer and you have a Bank of America Preferred Rewards program, you may be eligible for discounted pricing on trades.
Benefits of Knowing Merrill Edge Trading Hours
Knowing the Merrill Edge trading hours can provide many benefits to investors. Here are some of the advantages:
- Extended hours trading: Merrill Edge offers extended hours trading, which includes pre-market and after-hours sessions. These sessions allow investors to trade outside of regular market hours, which can be advantageous as companies often release earnings and news events outside of regular hours.
- Increased market potential: Trading during extended hours can provide investors with the opportunity to take advantage of market potential that they may not have access to during regular market hours.
- Limit orders: Merrill Edge allows investors to place limit orders during extended hours trading. This means that investors can set a specific price at which they want to buy or sell securities, even when the market is closed.
- Automatic trades: Merrill Edge offers the ability to place trades automatically during extended hours trading. This means that investors can set up trades to execute at a specific time, even when they are not actively monitoring the market.
- Access to a full suite of securities: Merrill Edge offers access to a full suite of securities, including stocks, ETFs, mutual funds, and more. This means that investors can diversify their portfolio and take advantage of different investment opportunities.
- 24/7 customer service: Merrill Edge offers 24/7 customer service, which means that investors can get help with their account and trades at any time.
It’s important to note that there are risks involved with trading during extended hours. The after-hours session, in particular, can be volatile, with price uncertainty and the potential for increased selling of securities.
Orders placed during extended hours trading are not always executed immediately, and may be automatically canceled if they are not filled by the opening bell of the regular session.
FAQs
Can I Trade After Hours With Merrill Edge?
Merrill Edge offers after-hours trading. Customers are allowed to trade after-hours from Monday to Friday from 4:01 p.m. until 8:00 p.m. ET.
What Time Does Merrill Edge Start Trading?
Merrill Edge starts trading by 7:00 a.m. ET. This time marks the beginning of the pre-market session, which ends at 9:30 a.m. ET. Even though Merrill Edge accepts orders as early as 7:00 a.m., the orders aren’t delivered to the electronic communications network (ECN) until 8:00 a.m.
Except on days when the market is closed, the regular trading schedule on Merrill Edge runs from 9:30 a.m. to 4:00 p.m. ET, Monday through Friday.
Are There Extended Hours Of Trading At Merrill Edge?
Merrill Edge offers extended-hours trading after you must have agreed to an extended-hours document. You can then purchase and sell securities before and after the regular trading period – the pre-market and after-hours sessions.
However, you are also limited to trading 100,000 shares per order during these sessions.
Listed firms in the US are known to release earnings reports outside of regular market hours, so trading during extended hours can be pretty profitable.
You can place a trade to sell or purchase more securities before the stock price changes substantially in case an unexpected announcement is made. Also, the pre-market and after-hours trading extend the period investors can trade during the day.
Note: Orders placed during the pre-market or after-hours period are not carried over to the next trading session. If an order is not filled during the pre-market session, it will be automatically canceled at the end of the session and will not be available during regular or after-hours sessions.
Does Merrill Edge Impose Surcharges For After-Hours Trading?
There are no charges for trading during the after-hours session at Merrill Edge.
During the after-hours session, some brokerage firms may impose a fee for purchasing and selling securities. Merrill Edge, however, charges no commission on shares. As well, customers with at least $20,000 in total account balances with Bank of America are eligible for free trades at Merrill Edge.
What Is The Merit Of After-Hours Trading?
Extended trading hours offer investors the chance to adjust to developments proactively. If you choose to participate in after-hours trading, it’s important to understand and be informed about it because it influences regular trading hours.
Trading outside of normal trading hours allows you to carry out trades based on significant news events, the futures market, economic reports, and earnings reports.
Speaking of earning reports, quarterly earnings reports are usually released before or after the market opens for regular trading. Thus, as a trader, you can react quickly based on the information you gather from these earning releases when you trade after hours.
After-Hours Trading On Merrill Edge – Is It Worth It?
While after-hours trading may appear to be a great opportunity, it is not without risks. Compared to normal trading hours, after-hours trading comes with more risks. Consider the following risks associated with after-hours trading before you trade during that period.
Lack of Liquidity: One of the most serious concerns with after-hours trading is the lack of liquidity. There is often less trading volume during extended hours since there are fewer investors that place trades. As a result, trading may become more difficult. There will also be a higher spread between the offer and selling prices due to the lower trading volume. Therefore, if you trade during the after-hours session, you might not get a reasonable price compared to trading during regular hours.
Volatile Prices: Prices tend to fluctuate and become unpredictable during extended-hours trading. The volatility in price during the after-hours period is because of the lesser trading activities than during regular trading hours. There’s also the likelihood of price uncertainty. A stock’s price during after-hours trading may differ from its price during regular trading hours.
Competition: Highly experienced investors from large corporations make up a significant proportion of those that trade during after-hours. Individual investors may be at a disadvantage because these experts often have more knowledge and expertise than the average investor. Professional investors also know what moves to make from the information they get from earnings and economic reports.
Even if you believe extended hours trading is worth the possible risks, you may encounter problems due to the restrictions imposed on it. The rules governing after-hours trading depend on the broker and the ECN.
ECNs are a form of alternative trading technology that allows investors to trade outside the traditional stock exchange. An ECN generally does not allow individual investors to trade directly with it. Instead, only subscribers, which include broker-dealers and institutional traders, are allowed to place trades on an ECN. An individual, therefore, must employ a broker-dealer subscriber to place a trade.
The ECN processes orders sent during Merrill Edge’s extended hours. While trading on an ECN, Merrill Edge warns its customers that software issues or other communication faults may arise. As a result, the risks in trading are higher during after-hours than during regular trading hours.
Bottom Line: Merrill Edge Trading Hours
As we have established, trading after-hours provides investors with the opportunity to react quickly to events, and Merrill Edge does not deprive its customers of these benefits. On Merrill Edge, you can always trade from 4:01 p.m. until 8:00 p.m. ET on days when the market is open.
Nonetheless, it would help if you had enough expertise in after-hours trading to acknowledge and appreciate the risks involved before you place a trade during such sessions. You should also be knowledgeable enough about earnings and economic reports, and the futures market to adjust appropriately to abrupt changes.
