The currency market commences from Monday morning in Shenzen, China to Friday afternoon in New York. All day and night at least one place on the globe, forex is traded.
It does wind up on weekends so it’s not a proper 24/7 market. So possibly the suitable term would be 24/5 instead of 24/7.
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So should you want to keep acquainted about the absolute opening and closing times of the forex market, consult time zones. It is very clear when represented in UTC.
This is Universal Coordinated Time, erstwhile identified as Greenwich Mean Time. It’s in fact the standard time in London, Greenwich to be correct which also happens to be accurately zero longitude on the globe.
Therefore the standard foreign exchange market operating hours would be commencing from Sunday 22:00 UTC to Friday 22:00 UTC. This likens to10pm winter time in the UK.
New York is 5 hours behind the UK so the universal foreign exchange market commences 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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In short, the major national forex markets have the these hours:
London: 8 am to 5 pm UTC Sydney: 10 pm to 7 am UTC Tokyo: 12 midnight to 9 am UTC New York: 1 pm to 10 pm UTC
Alternately we can depict that in EST (Eastern US time):
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.
24 hour market trade does not portend that all 24 hours are suited for good trading. Just after an important market opens, the prices can be very volatile and fluctuating.
Many traders will stick out of the currency market for up to an hour four times a day when the financial markets are getting ready to commence trade in these major cities.
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So hypothetically you may trade 24 hours a day from Sunday night to Friday night. Automated software in the style of a forex robot can even make this physically attainable.
Nevertheless, a smart trader will choose his times and will not be active during all of the forex market hours.
Disclaimer: FX trading can be dangerous, may result in material losses, and is not appropriate for everyone.
