Alpaca now offers 24/5 trading for US equities to Trading API users, allowing traders to access the US equities market from 8:00 PM ET Sunday to 8:00 PM ET Friday.
How 24/5 Trading Impacts Algo Traders and Developers
Historically, the US markets have operated between 9:30 AM to 4:00 PM ET, with extended hours operating between 4:00 AM to 9:30 AM and 4:00 PM to 8:00 PM ET, leaving a daily gap between 8:00 PM and 4:00 AM ET. However, there has been widespread demand for capital markets to create more flexibility in their hours due to both the increase in access to the US markets and with crypto markets being available 24/71.
Alpaca’s 24/5 trading feature is engineered with algo traders and developers in mind, offering access to overnight sessions and more flexibility in how you trade.
Benefits of 24/5 Trading
- Trade Whenever: Trade stocks during hours that match your preferred schedule.
- React to Events: React to earnings releases, global news, or after-hours events.
- Expanded Opportunities: Test and deploy strategies across trading windows that were previously unavailable.
- No Extra Setup: Use the same endpoints and workflows, with minor parameter changes
Risks of 24/5 Trading
- Lower Liquidity and Partial Fills: Thinner overnight order books can lead to partial fills, rejections, or slower execution, especially for size or less liquid symbols.
- Wider Bid Ask Spreads and Slippage: Spreads widen outside regular hours may increase slippage. Strategies tuned for regular sessions may underperform.
- Higher Volatility and News Driven Moves: Earnings and macro news often hit outside regular hours, causing sharper and less predictable price moves.
- Price Discontinuities Between Sessions: Overnight prices may differ from prior closes or next session opens, breaking continuity assumptions.
How it Works
The setup stays simple for everyone, whether you’re coding a trading bot, running an automated strategy, or placing orders manually through API or on dashboard.
- Trading: Use the same /orders flow, with minor parameter updates.
- Controls: Authentication, funding, and risk controls remain unchanged.
- Market Data: Real-time data will be included in the Algo Trader Plus subscription.
How Does Margin and Buying Power Apply in 24/5 Trading?
Margin buying power during 24/5 trading follows extended hours rules, with up to two times buying power available overnight. Day Trading Buying Power (DTBP) does not apply in the overnight session, and orders that rely on DTBP may be rejected at 8 PM ET if non day trading buying power is insufficient.
| Session | Margin Buying Power |
|---|---|
| Regular session | Up to 4x for PDT eligible accounts |
| Extended hours (pre and post market) | Up to 2x |
| Overnight session | Up to 2x |
Get Started
Access to 24/5 trading will be rolled out automatically to Trading API users at launch.
New to Alpaca? Sign up for a Trading API account and start building with expanded weekday access to US equities.
Still have questions? Learn more about getting started with 24/5 trading via Alpaca’s Trading API or contact us at [email protected].
- “24x5 trading Market opportunities and trends”, KPMG, 2025
*Orders placed outside regular trading hours (9:30 a.m. – 4:00 p.m. ET) may experience price fluctuations, partial executions, or delays due to lower liquidity and higher volatility.
Orders not designated for extended hours execution will be queued for the next trading session.
Additionally, fractional trading may be limited during extended hours. For more details, please review Alpaca’s Extended Hours Trading Risk Disclosure.
Please note that this article is for general informational purposes only and is believed to be accurate as of the posting date but may be subject to change. The examples above are for illustrative purposes only.
Margin trading involves significant risk and is not suitable for all investors. Before considering a margin loan, it is crucial that you carefully consider how borrowing fits with your investment objectives and risk tolerance.
When trading on margin, you assume higher market risk, and potential losses can exceed the collateral value in your account. Alpaca may sell any securities in your account, without prior notice, to satisfy a margin call. Alpaca may also change its “house” maintenance margin requirements at any time without advance written notice. You are not entitled to an extension of time on a margin call. Please review the Firm’s Margin Disclosure Statement before investing.
All investments involve risk, and the past performance of a security, or financial product does not guarantee future results or returns. There is no guarantee that any investment strategy will achieve its objectives. Please note that diversification does not ensure a profit, or protect against loss. There is always the potential of losing money when you invest in securities, or other financial products. Investors should consider their investment objectives and risks carefully before investing.
Securities brokerage services are provided by Alpaca Securities LLC (dba "Alpaca Clearing"), member FINRA/SIPC, a wholly-owned subsidiary of AlpacaDB, Inc. Technology and services are offered by AlpacaDB, Inc.
Cryptocurrency services are provided by Alpaca Crypto LLC, a FinCEN-registered MSB (NMLS ID 2160858)
and is a subsidiary of AlpacaDB, Inc. Cryptocurrency assets are highly volatile and speculative, involving substantial risk of loss, and are not insured by the FDIC or any government agency. Customers should be aware of the various risks prior to engaging these services, including potential loss of principal, cybersecurity considerations, regulatory developments, and the evolving nature of digital asset technology. For additional information on the risks of cryptocurrency, please click here.
This is not an offer, solicitation of an offer, or advice to buy or sell securities or cryptocurrencies or open a brokerage account or cryptocurrency account in any jurisdiction where Alpaca Securities or Alpaca Crypto, respectively, are not registered or licensed, as applicable
