Forex Market Hours: Could You Buy And Sell Money 24 Hours/7 Days?

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Forex Market Hours: Could You Buy And Sell Money 24 Hours/7 Days?

Forex market hours readily available to you will depend completely on your location. If you need to know the precise times that the Forex markets open and close, you also have to take the time zones into consideration. It is easy to understand when expressed in UTC. This is Universal Coordinated Time, in the past known as Greenwich Mean Time. This is the standard (winter) time in Greenwich, London , the location of zero longitude on the globe.

So, the conventional forex market hours are 22.00 Sunday UTC to 22.00 Friday UTC. This is 10 pm in the UK in winter season.

However it is not a 24 hours/7 days a week market simply because it does shut down on weekends. 24 hours/5 days a week would definitely be more factual.

New York is five hours behind the UK so the global currency market opens and closes at 5 pm Sunday-Friday in New York, 2 pm on the US west coast, 11 pm in Munich, Germany, 8 am Monday-Saturday in Sydney, Australia.

Things soon get a little complex when you start to try to take summer time daylight saving into consideration. This will make an hour or so difference in regions that observe it. However daylight saving performs in a different way in the southern hemisphere countries such as Australia which have summer time from September until March instead of March till September.

The particular hours of the different principal national Forex markets are as follows:

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 till 10 pm UTC

Or we often express that in EST (Eastern Standard time):

Sydney: 5 pm to 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 will find that these correspond to 24 hr coverage.

Unfortunately, this may not necessarily mean that trading is actually good at all of those times. Just after a major market opens, the prices can become very volatile and changeable. Many market traders will stay out of the exchange market for as much as 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 means that the situation in the USA have a more significant impact on the financial 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 can be a great time to stop trading for the session.

So in theory you can trade 24 hours a day from Sunday night to Friday night. Autopilot software in the form of a forex robot can perhaps even make this physically workable. However, a risk-averse trader will choose his times and will likely not be active during all of the forex market hours.

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