To provide greater price accuracy, we no longer offer Market Orders when the market is closed.
You may have noticed that placing Market Orders is no longer available during off-market hours (times when the stock market is closed). Slices, Limit, and Stop orders are all still available to be placed at any time.
Why did we remove Market Orders when the market is closed?
We made the decision to remove Market Orders during off-market hours to protect our community members from price fluctuations between the previous market close and the next market open.
Why are there price fluctuations when the market is closed?
Typically when you place a Market Order during off-market hours, we will quote the previous closing price, but your trade won't get executed until the market is open again. However, the closing price and the execution price may differ, and this price swing can cause you to buy more of a stock than you paid for putting your account in a debit balance.
Therefore, we made the decision to remove Market Orders during off-market hours in order to protect our members.
If you ever have questions, the team is always here for you, so feel free to give us a shout on the app’s Live Chat or via email at firstname.lastname@example.org! 😁