Forex Market Hours: Is It Possible To Trade Money 24/7?
Forex market hours readily available to you will depend entirely on your location. If you want to discover the particular times that the markets open and close, you also have to take the time zones into consideration. It is simple and easy when expressed in UTC. This is Universal Coordinated Time, originally referred to as Greenwich Mean Time. This is the normal (winter) time in Greenwich which is the location of zero longitude on the globe.
So, the traditional 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 seeing that it does shut on Saturdays and Sundays. 24/5 would definitely be more precise.
New York is five hours behind the UK so the global foreign exchange market opens and closes at 5 pm Sunday/Friday in NY, 2 pm on the US western seaboard, 11 pm in Germany, 8 am Monday-Saturday in Sydney, Australia.
Things soon get a little complex when you begin to attempt to take daylight saving into account. This will make at least an hour variation in locations that observe it. Nevertheless daylight saving functions in a different manner in the southern hemisphere countries like Australia which have summer months from September to March instead of March till September.
The particular hours of the different most important national Forex markets are :
Sydney: 10 pm until 7 am UTC
Tokyo: 12 midnight till 9 am UTC
London: 8 am to 5 pm UTC
New York: 1 pm till 10 pm UTC
Or it is easy to express that in EST (Eastern Standard time):
Sydney: 5 pm to 2 am EST
Tokyo: 7 pm until 4 am EST
London: 3 am till 12 noon EST
New York: 8 am till 5 pm EST
You will see that these correspond to 24 hour coverage.
Having said that, this may not necessarily mean that trading is going to be good at all these times. Right after a primary market opens, the prices may be very volatile and changeable. Many market traders will avoid the foreign currency market for around an hour four times a day when the Forex markets are waking up in those major cities.
The $US is the most traded forex by a long way, involved in 2.5 times as many trades as its nearest competitor the euro. What this means is that issues in the USA have a bigger impact on the trading markets than issues in other regions. The New York market seems to decline around 3 pm local time (8 pm UTC) and if you are involved in a $US pair, this will be a great time to quit trading for the day.
So technically you can trade 24 hours everyday from Sunday night until Friday night. Automated software in the form of a forex robot can perhaps even make this physically workable. Even so, a meticulous trader will choose his times and will not likely be trading throughout all of the forex market hours.
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