Although Morpher supports 24/7 trading, not all markets actively trade around the clock. Stocks are an example of an asset class that has fixed trading hours, outside of which trading is normally impossible.

Traditionally, if someone wanted to trade while the U.S. stock markets are closed, they would have to wait until the U.S. pre-market trading session begins, which starts as early as 4:00 AM (EST).

Pre-Market Stock Spreads
3:30 EST - 4:00 EST: 3% spread on all stocks
4:00 EST - 4:30 EST: Over 3% variable spread (higher for volatile stocks)

In order to keep the playing field leveled, and ensure that Morpher's markets mimic real-world economies accurately, we have introduced higher spreads at the start of the pre-market trading session. Starting half an hour before the pre-market open, until half an hour into the pre-market session, spreads on stocks will be higher. The size of the spread is determined by a number of factors, but mainly the extended-hours volatility of the underlying asset.
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