Overnight Trading at Interactive Brokers Using TWS Mobile

Study Notes:

Interactive Brokers offers trading in overnight hours for over 10,000 US-listed stocks and ETFs. Market data is provided for free, and existing US stock trading permission is sufficient to allow trading. Trades can be placed within TWS, Client Portal and Mobile TWS. Overnight trading hours are from 8:00pm ET to 3:50am ET with the first session beginning on Sunday at 8:00pm ET and the last session ending at 3:50am ET on Friday. Trades executed between 8:00pm and 12:00am will carry a trade date of the following day. For a full listing of the available stocks and ETFs see the exchange listing page on the website.

When logged into TWS Mobile click on the ticker symbol in your Portfolio or on a Watchlist for the stock you want to trade. 

Click the center button at the bottom of the screen and then tap Buy Order. 

Enter a symbol and tap Search. Select the stock trading on the appropriate exchange. In this case the user selects F NYSE and taps Stock beneath. Enter the quantity you wish to buy. 

The user can choose between a number of shares or a dollar amount by tapping the blue down arrow to the right of the Quantity line. Just tap either to change the display. Tap the screen again to return to the input field and enter the appropriate dollar amount or number of shares. 

Enter the desired limit price for the buy order. Set the Time in Force to Day. Toggle on the Overnight trading button.

The order is ready to Preview. A badge will display a message stating that the order is being routed to OVERNIGHT – the US Overnight Trading venue. The user is displayed details about the pending order and may view a matrix displaying margin impact of the transaction. A Mandatory Cap Price warning screen may appear for the user to review and decline or accept. The order is now pending. From this page, user may modify or Cancel the order. If satisfied, click Done. 

Note: Overnight orders remain in the system for a single session. If they do not fill overnight, the order will expire and disappear. The client would need to resubmit another overnight limit order the following day. 

To cancel or modify the open order click the center button at the bottom of the screen and then tap Orders. Select the open order and select Cancel Order or Modify Order at the bottom of the page.