Forex Market Trading Hours: Could You Buy And Sell Foreign Currency 24/7?

Forex market hours accessible to you will depend completely on your location. If you need to know the exact time that the markets open and close, you have to take the time zones into consideration. It is very easy 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 which is the point of zero longitude on the globe.

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

But it is not a 24 hours/7 days a week market since it does shut down on Saturdays and Sundays. 24/5 would be more factual.

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 seaboard, 11 pm in Germany, 8 am Monday/Saturday in Sydney, Australia.

Things soon get a little complex when you start to try to take daylight saving into account. This makes an hour or so difference in locations that observe it. Nevertheless daylight saving performs in a different way in the southern hemisphere countries such as Australia which have summer months from September to March instead of March to September.

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

Sydney: 10 pm to 7 am UTC

Tokyo: 12 midnight till 9 am UTC

London: 8 am to 5 pm UTC

New York: 1 pm to 10 pm UTC

Or you may express that in EST (Eastern Standard time):

Sydney: 5 pm to 2 am EST

Tokyo: 7 pm until 4 am EST

London: 3 am to 12 noon EST

New York: 8 am to 5 pm EST

You see that these correspond to 24 hour cover.

Unfortunately, this will not necessarily mean that trading would be good at all of these times. Just after a Forex market opens, the prices could be very volatile and unpredictable. Many forex traders will stay out of the currency trading market for around an hour 4 times a day when the financial markets are waking up in these major cities.

The $US is the most traded currency by a long way, involved in 2.5 times as many trades as its nearest competitor the euro. This means that activities in the USA have a more significant impact on the financial markets than events in other regions. The New York market tends to slow down around 3 pm local time (8 pm UTC) and if you are involved in a $US pair, this can be a great time to quit trading for the session.

So theoretically you can trade 24 hours a day from Sunday night until Friday night. Automated software in the form of a forex robot can even make this physically workable. However, a vigilant trader will choose his times and tend not to be active during all of the forex market hours.

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