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 instant.
It does terminate on weekends so it’s not a proper 24/7 market. 24/5 would be more accurate.
forex ambush
You must understand time zones though in order to surmise exactly when the global markets will open and close. By using UTC, it becomes a simplified procedure.
It was earlier known as GMT which is Greenwich Mean Time and is at present UTC expanding to Universal Coordinated Time. It is the normal winter time at zero longitude on the globe and the actual location is Greenwich, London.
In these terms, the regular operating schedule of the forex market would be from Sunday 22:00 UTC to Friday, 22:00 UTC. This is 10 pm in Britain in winter time.
Since UK is ahead of New York by 5 hours, the forex market universally will open and terminate 5 pm Sunday / Friday in NY, 2 pm West Coast, 8 am Monday/Saturday Australia and 11 pm, in Germany.
forex automoney
Particularly, here are the hours of consequential 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
Contrarily, in Eastern US time or EST:
Sydney: 5 pm through 2 am EST Tokyo: 7 pm till 4 am EST London: 3 am through 12 noon EST New York: 8 am till 5 pm EST
From the given facts it can be seen that the markets are in a way open 24 hours globally.
However, this does not compulsorily mean that trading will be good at all of these occasions. When a huge market kicks off in its morning, price movement is quite unreliable and wayward.
Many traders will stick out of the FX market for up to an hour four times a day when the financial markets are getting started in these major cities.
forex megadroid
Thus in theory, trading can be effected from Sunday to Friday, 24 hours on a daily basis. It even becomes imaginable physically owing to trading software that utilize robots.
But the prudent trader trades during optimal times and is eventually not trading during the consolidated operating hours of the foreign exchange market.
Disclaimer: FX investing is speculative, can end up in significant losses, and is not appropriate for everybody.
