I am a Fidelity customer. Does the first Warning mean I cannot do pre-market trading? If that is true, who can?

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The order is actually executed when the price target is met. I am confused.

  • I would take that 'warning' as informational rather than as a prohibition. If you do not have approval for pre-market trading then the warning should say something like "Cannot place trade. You are not approved for pre-market trading". However, I no longer use Fidelity so take this comment with a grain of salt. Jan 15 '21 at 14:26
  • What time (in ET) did you attempt to place the order?
    – Joe
    Jan 15 '21 at 15:30
  • I placed the order at about 8:40AM ET.
    – peterB
    Jan 15 '21 at 16:00

No. The warning says you are placing a pre-market order that is eligible for trading until two minutes before the market opens.

They are warning you because pre-market trading carries additional risks, like reduced liquidity and increased volatility, and they want to be sure you are aware of what you are doing.

  • But was executed at about 9 am ET
    – peterB
    Jan 15 '21 at 23:27
  • @peterB Yes. You placed a pre-market trade, and you received a message saying that the order may execute during pre-market hours. The order did, in fact, execute during pre-market hours. What are you confused about? Jan 16 '21 at 14:30
  • Sorry, I read the warning message wrong.
    – peterB
    Jan 20 '21 at 1:02

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