IG to add more extended-hours stocks to offering
Electronic trading major IG is expanding its offering. Today, the broker announced that from 3pm (UK time) on January 4, 2021, it will add the following stocks to its All Session US shares offering:
- NIO Inc – ADR
- Peloton Interactive Inc
- Zoom Video Communications Inc
- Beyond Meat Inc
- Airbnb Inc
Traders will be able to trade CFDs and spread bet on these stocks from 9am – 1am Monday to Thursday, and from 9am – 10pm on Fridays (all UK times).
For share dealing, IG will quote these stocks from 12pm – 10.30pm Monday to Thursday and from 12pm – 10pm on Fridays (all UK times).
For those IG clients who trade CFDs and/or spread bet with the broker, normal margin requirements will apply during these extended hours. Stops, limits and orders to open can be triggered during these times so traders are advised to ensure that they have sufficient funds in their accounts to cover any open positions on these markets.
Speaking of recent additions to IG’s offering, let’s note that IG is offering its clients to trade Robinhood ahead of its listing via its exclusive ‘grey market’.
Grey markets enable traders to get exposure to a company before it lists on a stock exchange. When you decide to trade the grey market, you’re trading on the estimated market valuation of a company. The final valuation will only be known after the first day of trading – and it is based on the demand shown by the market that day.
With the Robinhood grey market, traders would:
- ‘Buy’ if they think the market cap will be higher than the price indicated;
- ‘Sell’ if they think the market cap will be lower than the price indicated.
In the meantime, clients of IG that trade cryptocurrencies should take into account that trading in cryptocurrency CFDs will soon be banned for retail traders in the UK. IG has provided detailed instructions on how the regulatory changes may affect some of its clients.