After Hours Trading
After hours trading was once something only achievable by big players in the investing world. Nowadays, anyone can access the opportunities and take advantage of the volatility demonstrated outside of LSE and NYSE market hours.
Whatever your instrument of choice, be it Tilray (TLRY), Square Financial Services (SQ), T Mobile (TMUS) or Disney (DIS), after hours trading requires some special consideration. This article provides an explanation of the concept, how it can benefit traders, what risks are involved and what strategies suit it best.
Brokers With Extended Hours Trading
-
Founded in 1989, CMC Markets is a reputable broker publicly listed on the London Stock Exchange. It holds authorisation from top-tier regulators such as the FCA, ASIC, and CIRO. The brokerage, which has received multiple awards, boasts a global membership exceeding one million traders.
Instruments Regulator Platforms CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA Web, MT4, TradingView Min. Deposit Min. Trade Leverage $0 0.01 Lots 1:30 (Retail), 1:500 (Pro) -
Founded in 1974, IG is a part of IG Group Holdings Plc, a publicly listed brokerage (LSE: IGG). The company provides spread betting, CFD, and forex trading, offering access to over 17,000 markets. Its platforms and investing apps are notably user-friendly. Over the past 50 years, IG has consistently been an industry leader, excelling in all essential areas for traders.
Instruments Regulator Platforms CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime Min. Deposit Min. Trade Leverage $0 0.01 Lots 1:30 (Retail), 1:222 (Pro) -
eToro, a leading multi-asset platform, provides access to trading services across thousands of CFDs, stocks, and cryptocurrencies. Established in 2007, it boasts millions of active traders worldwide and is sanctioned by top-tier regulators such as the FCA and CySEC. It stands out for its extensive social trading feature. Crypto investments are unstable and carry risk. Tax implications might apply. Acknowledge the risks involved. 61% of retail CFD accounts incur losses.
Instruments Regulator Platforms CFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTs FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMF eToro Web, CopyTrader, TradingCentral Min. Deposit Min. Trade Leverage $50 $10 1:30 -
Founded in 1983, City Index is a prestigious broker, now under the Nasdaq-listed StoneX Group. It excels in forex, CFDs, and spread betting. With access to over 13,500 instruments, City Index provides a dynamic Web Trader platform, exceptional educational materials, and round-the-clock support five days a week, ensuring a thorough trading experience.
Instruments Regulator Platforms CFDs, Forex, Stocks, Indices, Commodities, Crypto, Futures, Options, Bonds, Interest Rates,ETFs,Spread Betting FCA, ASIC, CySEC, MAS Web Trader, MT4, TradingView, TradingCentral Min. Deposit Min. Trade Leverage $0 0.01 Lots 1:30 -
Spreadex, regulated by the FCA, provides spread betting across 10,000+ CFD instruments, including 60 forex pairs. Traders have the option to engage in short-term positions on sporting events as well. With a history exceeding 20 years, the company has earned numerous accolades.
Instruments Regulator Platforms Forex, CFDs, Indices, Commodities, Stocks, Crypto, Bonds, Interest Rates, ETFs, Options, Spread Betting FCA Spreadex Platform, TradingView, AutoChartist Min. Deposit Min. Trade Leverage £0 £0.01 1:30 -
Interactive Brokers (IBKR), a leading brokerage, offers access to 150 markets across 33 countries and provides extensive investment services. With more than 40 years of experience, this Nasdaq-listed company complies with strict regulations from the SEC, FCA, CIRO, and SFC. It is among the most reliable brokers worldwide for traders.
Instruments Regulator Platforms Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower Min. Deposit Min. Trade Leverage $0 $100 1:50 -
Firstrade, based in the US, operates as a discount broker-dealer and is authorised by the SEC. The firm is a member of both FINRA and SIPC. Firstrade Securities stands out as a leading online brokerage, offering enticing welcome bonuses, robust tools and apps, and commission-free trading. Opening a new account is straightforward and efficient.
Instruments Regulator Platforms Stocks, ETFs, Options, Mutual Funds, Bonds, Cryptos, Fixed SEC, FINRA TradingCentral Min. Deposit Min. Trade Leverage $0 $1
CMC Markets
IG Index
eToro
City Index
Spreadex
Interactive Brokers
FirstradeSafety Comparison
Compare how safe the After Hours Trading are and what features they offer to protect traders.
| Broker | Trust Rating | FCA Regulated | Negative Balance Protection | Guaranteed Stop Loss | Segregated Accounts |
|---|---|---|---|---|---|
| CMC Markets | ✔ | ✔ | ✔ | ✔ | |
| IG Index | ✔ | ✔ | ✔ | ✔ | |
| eToro | ✔ | ✔ | ✘ | ✔ | |
| City Index | ✔ | ✔ | ✔ | ✔ | |
| Spreadex | ✔ | ✔ | ✘ | ✔ | |
| Interactive Brokers | ✔ | ✔ | ✘ | ✔ | |
| Firstrade | ✘ | ✘ | ✘ | ✘ |
Payments Comparison
Compare which popular payment methods the After Hours Trading support and whether they have trading accounts denominated in British Pounds (GBP).
| Broker | GBP Account | Debit Card | Credit Card | Neteller | Skrill | Apple Pay |
|---|---|---|---|---|---|---|
| CMC Markets | ✔ | ✔ | ✔ | ✘ | ✘ | ✘ |
| IG Index | ✔ | ✔ | ✔ | ✘ | ✘ | ✘ |
| eToro | ✔ | ✔ | ✘ | ✔ | ✔ | ✘ |
| City Index | ✔ | ✔ | ✔ | ✘ | ✘ | ✘ |
| Spreadex | ✔ | ✔ | ✔ | ✘ | ✘ | ✘ |
| Interactive Brokers | ✔ | ✔ | ✘ | ✘ | ✘ | ✘ |
| Firstrade | ✘ | ✘ | ✘ | ✘ | ✘ | ✘ |
Mobile Trading Comparison
How good are the After Hours Trading at mobile trading using apps or other mobile interfaces.
| Broker | Mobile Apps | iOS Rating | Android Rating | Smart Watch App |
|---|---|---|---|---|
| CMC Markets | iOS & Android | ✘ | ||
| IG Index | iOS & Android | ✔ | ||
| eToro | iOS & Android | ✘ | ||
| City Index | iOS & Android | ✘ | ||
| Spreadex | iOS & Android | ✘ | ||
| Interactive Brokers | iOS & Android | ✔ | ||
| Firstrade | iOS & Android | ✘ |
Beginners Comparison
Are the After Hours Trading good for beginner traders, that might want an affordable setup to get started, along with good support and educational resources?
| Broker | Demo Account | Minimum Deposit | Minimum Trade | Support Rating | Education Rating |
|---|---|---|---|---|---|
| CMC Markets | ✔ | $0 | 0.01 Lots | ||
| IG Index | ✔ | $0 | 0.01 Lots | ||
| eToro | ✔ | $50 | $10 | ||
| City Index | ✔ | $0 | 0.01 Lots | ||
| Spreadex | ✘ | £0 | £0.01 | ||
| Interactive Brokers | ✔ | $0 | $100 | ||
| Firstrade | ✘ | $0 | $1 |
Advanced Trading Comparison
Do the After Hours Trading offer features that allow for more advanced trading strategies?
| Broker | Automated Trading | Pro Account | Leverage | VPS | AI | Low Latency | Extended Hours |
|---|---|---|---|---|---|---|---|
| CMC Markets | Expert Advisors (EAs) on MetaTrader | ✔ | 1:30 (Retail), 1:500 (Pro) | ✔ | ✘ | ✔ | ✔ |
| IG Index | Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime | ✔ | 1:30 (Retail), 1:222 (Pro) | ✔ | ✘ | ✔ | ✔ |
| eToro | Automate your trades via CopyTrader - follow profitable traders. Open and close trades automatically when they do. | ✘ | 1:30 | ✘ | ✔ | ✘ | ✔ |
| City Index | Expert Advisors (EAs) on MetaTrader | ✔ | 1:30 | ✘ | ✔ | ✔ | ✔ |
| Spreadex | ✘ | ✔ | 1:30 | ✘ | ✘ | ✔ | ✔ |
| Interactive Brokers | Capitalise.ai & TWS API | ✘ | 1:50 | ✘ | ✔ | ✔ | ✔ |
| Firstrade | - | ✘ | - | ✘ | ✘ | ✔ | ✔ |
Detailed Rating Comparison
Use this heatmap to compare our detailed ratings for all of the After Hours Trading.
| Broker | Trust | Platforms | Mobile | Assets | Fees | Accounts | Support | Research | Education |
|---|---|---|---|---|---|---|---|---|---|
| CMC Markets | |||||||||
| IG Index | |||||||||
| eToro | |||||||||
| City Index | |||||||||
| Spreadex | |||||||||
| Interactive Brokers | |||||||||
| Firstrade |
Our Take On CMC Markets
"Equipped with advanced charts and a broad array of tradable CFDs, including an unmatched selection of currencies and bespoke indices, CMC Markets offers an excellent online platform for traders at any level."
Pros
- The brokerage excels with an extensive array of valuable resources, such as pattern recognition scanners, webinars, tutorials, news feeds, and research from reputable sources like Morningstar.
- CMC provides competitive pricing with narrow spreads and low trading fees, except for stock CFDs. The Alpha and Price+ programmes offer additional benefits for active traders, including discounts on spreads of up to 40%.
- We've upgraded the 'Assets & Markets' rating due to frequent product enhancements in early 2025. These include extended trading hours for US stocks and the introduction of new share CFDs.
Cons
- Trading stock CFDs comes with a relatively high commission, particularly when compared to low-cost brokers such as IC Markets.
- The CMC Markets app provides a comprehensive trading package; however, its design and user experience lag behind market leaders such as eToro.
- Although there have been improvements, the online platform still needs further refinement to match the user-friendly trading experience offered by competitors such as IG.
Our Take On IG Index
"IG offers a complete package with an intuitive online platform, top-tier beginner education, advanced charting tools through its TradingView integration, real-time data, and swift execution for seasoned traders."
Pros
- IG stands out with its extensive range of instruments, offering stocks, forex, indices, commodities, and cryptocurrencies. Additionally, it has recently introduced US-listed futures and options, along with an AI Index. These options enhance opportunities for diversification in trading.
- As a seasoned broker, IG adheres to stringent regulatory standards across various regions, ensuring significant trust.
- The ProRealTime advanced charting platform remains free, provided traders meet modest monthly activity requirements.
Cons
- In the UK and EU, negative balance protection is available. However, US clients lack account protection and guaranteed stop losses.
- Beginners may find IG's fees complicated, as they vary depending on the trades or services. This could cause confusion and unexpected costs.
- IG imposes a monthly inactivity fee of $12 after two years, discouraging occasional traders.
Our Take On eToro
"eToro's social trading platform excels with its outstanding user experience and lively community chat, aiding beginners in spotting opportunities. It offers competitive fees on numerous CFDs and real stocks, alongside exceptional rewards for seasoned strategists."
Pros
- The broker offers excellent services for beginners, featuring commission-free stock trading, a low minimum deposit, and an unlimited demo account.
- eToro has launched automated crypto staking, offering a pathway to passive income. However, Ethereum requires users to opt in.
- eToro has launched EUR and GBP accounts, reducing conversion fees and offering a trading experience better suited to local requirements.
Cons
- The absence of extra charting platforms such as MT4 may deter experienced traders who rely on external software.
- There are no assured stop-loss orders, which could be a valuable risk management tool for novice traders.
- The minimum withdrawal is set at $30, accompanied by a $5 fee. This may impact traders with limited funds, particularly those just starting out.
Our Take On City Index
"City Index suits active traders perfectly, offering rapid execution speeds averaging 20ms and a customisable web platform with over 90 technical indicators. Its educational resources are exceptional. For UK traders interested in spread betting on 8,500+ instruments tax-free, City Index is an excellent option."
Pros
- City Index offers access to over 13,500 markets, including forex, indices, shares, commodities, bonds, ETFs, and interest rates. The platform's inclusion of niche markets such as interest rates provides traders with unique opportunities not commonly available on other platforms.
- City Index is under the regulation of leading authorities, such as the FCA in the UK, ASIC in Australia, and MAS in Singapore. Its parent company, StoneX Group Inc., is publicly listed, which enhances its credibility.
- City Index offers adaptable trading platforms suited to every expertise level. For newcomers, the Web Trader platform is straightforward and user-friendly. For more in-depth analysis and automated features, MetaTrader 4 (MT4) and TradingView are supported, providing a comprehensive trading experience for all traders.
Cons
- City Index does not offer an Islamic account with swap-free conditions, making it less attractive to Muslim traders than brokers such as Eightcap and Pepperstone.
- Unlike brokers like AvaTrade and BlackBull, City Index lacks options for passive trading, such as social copy trading or real ownership of stocks and ETFs. This limitation may reduce its appeal to traders seeking a more hands-off approach.
- Although many brokers, such as eToro, have broadened their crypto offerings, City Index restricts its clients to crypto CFDs. This limited selection may not meet the needs of traders seeking a wider variety of altcoins.
Our Take On Spreadex
"Spreadex attracts UK traders keen on spread betting in financial markets and traditional sports wagers. It offers low fees for short trades, and spread bet profits are tax-free. With a robust charting platform and no minimum deposit, it's easy to begin."
Pros
- Spreadex offers UK traders the chance to earn tax-free profits via spread betting.
- Traders can place wagers on sporting events directly through their brokerage accounts.
- A unique broker offering access to low market cap stocks on the AIM.
Cons
- The absence of a demo account may dishearten potential clients wishing to evaluate Spreadex's offerings.
- The proprietary terminal does not offer the detailed charting capabilities found in platforms such as MT4 and MT5.
- There is no support for expert advisors or trading bots.
Our Take On Interactive Brokers
"Interactive Brokers ranks highly for seasoned traders due to its robust charting platforms, live data, and bespoke layouts via the new IBKR Desktop app. Its competitive pricing and sophisticated order choices appeal to traders, and its wide equity options are industry-leading."
Pros
- While initially targeting seasoned traders, IBKR has recently widened its appeal by eliminating its $10,000 minimum deposit requirement.
- IBKR offers an economical environment for traders, featuring low commissions, narrow spreads, and a clear fee structure.
- IBKR consistently offers unparalleled access to global equities, with thousands of shares available across over 100 market centres in 24 countries, including the recently added Saudi Stock Exchange.
Cons
- IBKR offers a variety of research tools, but their inconsistent placement across trading platforms and the 'Account Management' webpage creates a confusing experience for users.
- Support can be sluggish and frustrating. Tests reveal that you may face challenges reaching customer service quickly, which could result in delays in issue resolution.
- The learning curve for TWS is quite steep, making it tough for novice traders to navigate and grasp all its features. In contrast, Plus500's web platform is far more accessible for those new to trading.
Our Take On Firstrade
"Firstrade suits novice traders in US stocks, offering zero commissions. It provides abundant free education, top-tier research with FirstradeGPT, and trading insights from Morningstar, Briefing.com, Zacks, and Benzinga."
Pros
- Ideal broker for cost-aware traders, offering competitive low fees on OTC trades.
- Among the initial brokers to integrate AI-driven analysis via FirstradeGPT.
- Improved trading conditions now include overnight trading and the option to purchase fractional shares.
Cons
- Customer support requires improvement after testing revealed the absence of 24/7 assistance.
- Over 90% of the options assessed lack a demo trading account.
- Deposits and withdrawals via Visa credit or debit cards are not available.
What Is After Hours Trading?
After hours trading sits outside of the main market sessions of big exchanges like the New York Stock Exchange (NYSE) or the London Stock Exchange (LSE). The UK standard market hours are 08:00 to 16:30 GMT, with after hours trading occurring for a few hours on either side, consisting of pre and post-market sessions.
The UK pre-market session runs from 05:05 GMT to 07:50 GMT and the post-market session sits between 16:40 and 17:15 GMT. The American markets have increased their time limits for extended hours trading, offering five hours of pre-market trading from 4 am Eastern time (3 am Central Time, 8 am GMT).
Once the domain of wealthy investors and big financial institutions, technology improvements have given rise to ECN (electronic communication network) brokerages, which opens the doors of after hours trading to individual investors of all sizes. Alternative trading systems (ATSs) also offer after hours brokering opportunities.
After hours trading can be carried out on many different instruments, including stocks, indices and options. The specific instruments, however, will depend on what your broker offers.
After Hours Trading Strategies
There are two common strategies employed for after hours trading, known as news and breakout trading. Each of these capitalises on a different advantageous characteristic of extended-hours markets.
After Hours News Trading
Often touted as the primary reason for after hours trading in the first place, news trading is a strategy that involves rapidly reacting to economic reports and news releases. From massive American corporations like Exxon Mobil (XOM) & 3M (MMM) and UK financial services companies like Hargreaves Lansdown (HL) down to retail stores like Macy’s (M) and JCPenney (JCP), all must publicly release financial reports.
These financial reports, and their forecasts, can be used to inform trading strategies. For example, if market experts predict a positive turnover report for a company, but the report doesn’t meet expectations, the stock price is likely to go down. News traders would likely recognise this and short their stock. After hours news trading works in the very same way.
Breakout Trading
Another popular strategy in after hours trading, breakout investing involves assessing support and resistance levels for short-period swings. When the price breaks beyond one of these levels, you place a long or short order on the instrument to catch its breakout to a new set of support and resistance levels.
Pros of After Hours Trading
While after hours trading provides opportunities for profit in some situations, it isn’t for everyone. Ensure you understand the ins and outs of the concept and strategies before taking the risk.
Some of the main advantages of after hours trading include:
Volatility
After hours trading tends to see higher levels of volatility than regular hours, often due to the lower numbers of active traders. This causes more drastic price movements, opening the door to larger profit possibilities. However, volatility is a double-edged sword, so do be careful.
Convenience
Some traders may lead very busy lifestyles that block out the main market hours from their trading time. After hours trading opens more of the day to trade, allowing busy investors to stay involved.
Similarly, stock markets in other economic areas, such as the USA or Japan, generally have inconvenient opening times for UK investors. Trading after hours allows cross-market trading without needing to work at inconvenient times of the day, so those looking to trade indices like the NASDAQ 100, S&P 500, the DOW and 10-year treasury or stocks like AMC and KMI in the UK, can easily do so.
Opportunity
With most investors and day traders utilising the main market hours, those willing to take the risks of after hours trading are presented with greater opportunities. With some news and reports being released in these after-market hours, traders can react more quickly and get involved in the initial price swings.
Cons Of After Hours Trading
Unfortunately, it is not all plain sailing. If these advantages over main sessions came with no additional risks, everyone would do it. After hours trading best suits those with more adventurous risk appetites for the following reasons.
Low Liquidity
As with many things, the advantage of fewer traders providing more opportunity comes with its own disadvantage. Fewer investors trading in equities and derivatives means that the liquidity of the markets is lower after hours. Traders in these times are less likely to get their price quotes matched, as fewer traders are filling out the other sides of orders.
Greater Volatility
While larger price movements provide more profit opportunities, the volatility also increases the risks of losses. Dramatic price swings go both ways, so be prepared for shock losses and utilise limit orders where you can.
Increase Cost
As liquidity decreases and volatility increases, the market spreads generally increase. Therefore, with the general volatility and liquidity trends of after hours trading, spreads tend to increase. This can reduce the profitability of after hours trades.
How To Start After Hours Trading
Finding A Suitable After Hours Broker
The most important step to begin after hours trading is to choose a broker that supports it. For a broker to facilitate this, it must either be an ECN broker or an ATP broker, which are two different types of brokering structure.
There is a decent range of suitable brokers for after hours trading, and more are popping up all the time. Some of the most popular UK options for buying and selling after hours are IG and eToro.
It is generally beneficial to find a broker with a good demo account offering, allowing traders to familiarise themselves with platforms, instruments and strategies without any financial risk.
Other considerations include spreads, transaction fees, payment options and regulation. Some traders may also aim for a broker with a strong app platform, like Fidelity’s mobile platform. See our UK brokers guide for more detailed tips and reviews of good providers.
Strategise
Once an account has been set up and funded with a suitable broker, an after hours trading strategy should be selected, and you should begin to assess the markets. If you choose to follow a news trading approach, find out when the key report releases are for the instruments you wish to trade. You can then begin to research predictions and plan for trading these releases.
For after hours traders following a breakout approach, ensure you have got to grips with the fundamentals of the strategies. You can then practice on a few real-time breakouts, ensuring you understand fully and are correctly implementing the strategy. Breakout trading can also benefit from a range of technical indicators, including Bollinger bands and fake-out tools.
Top After Hours Trading Stocks For UK Traders
It can often be helpful to see what the general trading population are doing when getting started in a new financial venture. After hours trading is one such venture; beginning with popular stocks will improve liquidity, helping to maximise your profits while you build a foundation of understanding and experience in the sector.
Top UK Stocks
Some of the most traded stocks on the London market are Lloyds (LLOY), Barclays (BARC), Vodafone (VOD) and Nokia (NOKIA).
Top US Stocks
In early 2021, the three most traded after hours stocks on the NYSE are Cisco Systems Inc. (CSCO), Micron Technology Inc. (MU) and Discovery Inc. Series C (DISCK). Also among the top ten are Apple (AAPL) and Microsoft (MSFT), with other noteworthy stocks by volume including GameStop (GME), Tesla (TSLA) and Amazon (AMZN).
To find more information about after hours trading volumes, market gainers and biggest movers, there are plenty of screeners, such as CNN, and trackers online with live charts and graphs, data tables and stock history. These screeners are split between UK and US markets, with the results generally updated the next day, meaning yesterday’s information is published today.
Additional Resources
There are plenty of extra resources available online for those interested in finding out more details to do with after hours trading. YouTube contains a wealth of videos you can watch with well-explained definitions of different strategies, rules and trading opportunities. Beyond traditional guides, there are also interesting articles debating whether after hours trading is unfair and should be illegal, given the low liquidity and potential for market manipulation.
Final Word On After Hours Trading
While some institutions and journalists debate whether after hours trading is good or bad for markets, affecting opening prices in ways that are not fair for regular traders, there is no doubt that it offers financial opportunity. For those with suitable experience, capital and risk appetite, analysing price movements and trading UK and US stocks outside of their exchange’s hours provides added volatility and profit potential. Traders should always be careful, however, ensuring strategies are understood and safety nets are in place in case the market moves against you.
FAQ
After Hours Trading, What Does It Mean & How Does It Work?
After hours trading simply means trading stocks, options and derivatives when regular markets are closed. Using online brokers, investors can trade instruments based on news releases even when the relevant stock exchanges are closed.
Who Can Do After Hours Trading?
Where after hours trading once required massive amounts of capital, restricting access to big institutions and wealthy investors, technology improvements have allowed anyone with capital and the means to create a trading account to get involved.
Where Can I Do After Hours Trading?
After hours trading is available to traders all over the world, provided they have the means to open a trading account with a suitable broker. For UK traders, these can include AJBell YouInvest, FreeTrade and Revolut. Degiro is a popular after hours broker for EU customers and the US offers a huge range, including Marketwatch, Vanguard, WeBull, SS&C and Interactive Brokers.
When Can I Trade After Hours?
After hours trading is possible all the days of the week, with pre and post-market trading possible Monday through Friday. Certain brokers will also offer certain instruments, often index trackers, like the FTSE 100 or 250, on weekends. After hours trading is not 24/7, however, beginning and ending at specific opening and closing times, outside of which all trading halts. However, some brokers may offer instruments for trading on market holidays like New Year’s Eve.
What Are The Differences Between After Hours Trading Vs Pre-Market Trading Vs Day Trading?
After hours, or extended hours trading, is a general term for any trading outside of standard market hours. Within this, stock exchanges have specific times before and after closing, called pre-market trading and post-market trading. Day trading is the opposite, occurring within standard market hours and taking advantage of the high levels of liquidity available then.