Is Forex Trading a 24/7 Game?
Right from Monday morning in Australia to Friday afternoon in NY, the forex market is in business. Someone around the globe is busy in forex trading at any given point.
It does wind up on weekends so it’s not a valid 24/7 market. 24/5 would be more accurate.
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So should you want to keep acquainted about the absolute opening and closing times of the forex market, consider time zones. By using UTC, it becomes a rudimentary task.
This is Universal Coordinated Time, previously identified as Greenwich Mean Time. This is the standard (winter) time in Greenwich, London which is the site of zero longitude on the sphere of earth.
Hence the standard foreign exchange market working hours would be starting from Sunday 22:00 UTC to Friday 22:00 UTC. This is 10 pm in the United Kingdom in winter time.
New York is 5 hours behind the UK so the worldwide currency market begins and closes at 5 pm Sunday/Friday in New York, 2 pm on the US west coast, 11 pm in Germany, 8 am Monday/Saturday in Sydney.
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Expressly, here are the hours of noteworthy global markets:
Sydney: 10 pm to 7 am UTC Tokyo: 12 midnight to 9 am UTC London: 8 am to 5 pm UTC New York: 1 pm to 10 pm UTC
Contrastingly, in Eastern US time or EST:
Sydney: 5 pm to 2 am EST Tokyo: 7 pm to 4 am EST London: 3 am to 12 noon EST New York: 8 am to 5 pm EST
From this it can be seen that the markets are certainly open 24 hours globally.
However, this does not certainly mean that trading will be good at all of these periods. When a significant market kicks off in its morning, price movement is quite unreliable and wandering.
A considerable number of traders intentionally abstain from avoid trading from 1 to 4 hours daily during the 4 opening times of heavyweight bourses.
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So in a sense you will be able to trade 24 hours a day from Sunday night to Friday night. In reality, this is made within reach foreign exchange software bots.
At any rate, a careful trader will choose his times and will not be active during all of the forex market hours.
Notice: FX investing is not risk free, may end up in material losses, and is not suitable for everybody.
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