Forex Market Trading Hours: Can You Trade Money 24/7?
Forex market hours readily available to you will be dependent completely on your location. If you want to know the exact times that the Forex markets open and close, you will need to take the time zones into account. It is quite simple when expressed in UTC. It is Universal Coordinated Time, in the past referred to as Greenwich Mean Time. This is the standard (winter) time in Greenwich, London , the position of zero longitude on the globe.
So, the traditional forex market hours are 22.00 Sunday UTC to 22.00 Friday UTC. Which is 10 pm in the UK in winter season.
Nevertheless it really it is not a 24 hours/7 days a week market just because it does shut down on weekends. 24 hours/5 days a week should be more precise.
New York City is five hours behind the UK so the global currency markets market opens and closes at 5 pm Sunday-Friday in NY, 2 pm on the US west coast, 11 pm in Munich, Germany, 8 am Monday-Saturday in Sydney, Australia.
Times soon get a little more complex when you begin to try to take summer time daylight saving into consideration. This will make at least an hour alteration in regions that observe it. But bear in mind daylight saving performs in a different manner in the southern hemisphere countries such as Australia which have summer time from September until March instead of March until September.
The particular hours of the various best known global Forex markets are :
Sydney: 10 pm to 7 am UTC
Tokyo: 12 midnight to 9 am UTC
London: 8 am until 5 pm UTC
New York: 1 pm until 10 pm UTC
Or it is easy to express that in (Eastern Standard time):
Sydney: 5 pm till 2 am EST
Tokyo: 7 pm until 4 am EST
London: 3 am until 12 noon EST
New York: 8 am to 5 pm EST
You can see that these correspond to 24 hr coverage.
Having said that, that may not generally mean that trading is actually good at all of those times. Just after a major market opens, the prices can become very volatile and erratic. Many market traders will keep away from the foreign currency trading market for upwards of an hour 4 times a day when the trading markets are waking up in these major cities.
The US dollar is the most frequently traded forex by a long way, involved in 2.5 times as many trades as its nearest competitor the euro. This suggests that the situation in the US have a more significant impact on the trading markets than events in other countries. The New York market has a tendency to decline around 3 pm local time (8 pm UTC) and if you are involved in a $US pair, this may possibly be a great time to halt trading for the session.
So in theory you can trade 24 hours per day from Sunday night to Friday night. Autopilot software in the form of a forex robot can quite possibly make this physically workable. Having said that, a risk-averse trader will determine his times and will likely not be trading during all of the forex market hours.
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