Place after hours market order through IB

Discussion in 'Trading' started by teun, Jan 15, 2008.

  1. teun


    Tonight was the first time for me to place a (smart) market order on a stock after hours (broker = IB, I checked the box "fill before/after regular trading hours").

    Normally (with a market order) the system immediately answers that the order is filled. In this case, the system only told that the order was acknowledged by the exchange. And when I tried to cancel it (after I saw it didn't execute) the system hang.

    When afterwards I placed a limit order, it was filled according to expectations.

    So can I conclude that one can't use (smart) market orders after hours with IB?
  2. nesyo03


  3. wrong. ib won't allow market orders after hrs
  4. trom


    Unless you're trading something extremely liquid, you're going to be paying a multiple dollar spread afterhours.
  5. teun


    I was trading something extremely liquid. Normally I always place limit orders during a/h.
  6. teun


    From IB site:

    Unlike Limit orders, Market orders are not guaranteed a specific execution price, and we do not accept Smart Routing Market orders when the primary exchange at which an equity trades is closed.
  7. I really wish IB would display the bids & offers of after-hours that are placed by other brokers as well. They go thru on IB, but IB doesn't display them (at least based on the standard quotes package).