Pre-market trading and post-market trading

U.S. stocks are allowed to conduct pre- and post-market trading outside the regular trading hours, and pre- and post-market orders will be submitted to the exchange for order matching. Nasdaq has a special pre-market and post-market trading hours, and various brokerages have different requirements for the time period of pre-market and post-market transactions. Webull's trading platform regulations are as follows:

1. Pre-market trading hours for US stocks: 04:00-9:30 (ET)

Daylight saving time Beijing time 16:00-21:30, Standard time Beijing time 17:00-22:30.

2. Post-market trading hours for US stocks: 16:00-20:00 (ET)

Daylight saving time Beijing time 4:00-8:00, Standard time Beijing time 5:00-9:00.

3. Post-market trading hours for US stocks in the half-day market: 13:00-17:00 (ET)

Daylight saving time Beijing time 1:00-5:00, Standard time Beijing time 2:00-6:00.

Support order types:

Webull currently provides order types including limit order, advanced order and more in the US stock market. For more details, please click the link.

When the trading session type is set to "Include pre-market and post-market hours", orders will be automatically queued for submission at the beginning of the US stock pre-market trading hours (16:00 Beijing time during daylight saving time and 17:00 Beijing time during standard time). Unfilled orders during regular trading hours will continue to post-market trading hours. Since U.S. stock trading only supports day orders, orders those still not filled at the end of post-market trading hours will be cancelled.

When the trading session type is set to "Regular time only", orders submitted during the pre-market trading hours (16:00-21:30 Beijing time during daylight saving time and 17:00-22:30 Beijing time during standard time) will be traded on US stocks. The time period starts to queue up automatically, and orders those still not filled at the end of the regular trading period will be cancelled.

Limit order might not be filled because of this Reg NMS Rule:

Reg NMS or best execution means that an order will be filled at the best price in all exchanges/market makers within the US. However, during extended hours, this rule does not apply. Your order will be filled at the best price of the exchange which the order is routed to.

That means there's no best execution guaranteed during that time. For example, when you placed a sell order, you might see the market price was higher than your limit price during pre-market but your order didn't get filled. It's because your order was sent to a different exchange and this is in compliance.