To provide greater price accuracy, we no longer offer full share market orders when the market is closed. Fractional shares, limit, and stop orders are still available to be placed at any time.
You may have noticed that placing full share Market Orders is no longer available during off-market hours (times when the stock market is closed).
Why did we remove market orders when the market is closed?
We made the decision to remove full share 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 full share market orders during off-market hours, we will quote the previous closing price, but your trade won't be 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. So we made the decision to remove full share 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 Chat or via email at support@public.com.