Forex Market Hours: Could You Exchange Currency 24 Hours/7 Days?

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

So, the standard forex market hours are 22.00 Sunday UTC to 22.00 Friday UTC. That is 10 pm in the UK in mid winter.

But it is not a 24/7 market since it does shut down on weekends. 24 hours/5 days a week would probably be more correct.

New York is five hours behind the UK so the global foreign exchange 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.

Things soon get a little complicated when you start to try to take summer time daylight saving into consideration. This makes an hour change in locations that observe it. Nevertheless daylight saving operates in a different way in the southern hemisphere countries such as Australia which have summer time from September till March instead of March to September.

The actual hours of the different important national markets are as follows:

Sydney: 10 pm to 7 am UTC

Tokyo: 12 midnight to 9 am UTC

London: 8 am till 5 pm UTC

New York: 1 pm to 10 pm UTC

Or you can easily express that in EST (Eastern Standard 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

You will find that these correspond to 24 hr cover.

Even so, this will not necessarily mean that trading is good at all of these times. Just after a major market opens, the prices are generally very volatile and irregular. Many professionals will stay out of the currency trading market for around an hour four times a day when the financial markets are waking up in these major cities.

The US dollar is the most frequently traded currency by a long way, involved in 2.5 times as many trades as its closest rival the euro. This implies that activities in the USA have a larger impact on the financial markets than events in other countries. The New York market has a tendency to slow down around 3 pm local time (8 pm UTC) and if you are involved in a US Dollar pair, this might be a great time to quit trading for the day.

So theoretically you can trade 24 hours per day from Sunday night to Friday night. Computerized software in the form of a forex robot can also make this physically achievable. Even so, a vigilant trader will choose his times and will never be active during all of the forex market hours.

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