Is Forex Trading a 24/7 Operation?
Forex trading begins in financial hub of Australia – Sydney on Monday morning till Friday afternoon in the US West Coast. All day and night everywhere on the globe, forex is traded.
It does adjourn on weekends so it’s not a real 24/7 market. It’s more appropriately 24/5.
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So should you want to keep apprised about the absolute opening and closing times of the forex market, make use of time zones. By using UTC, it becomes a rudimentary method.
Greenwich or GMT is the bygone title of UTC or Universal Coordinated Time. It is the precise winter time at zero longitude on the globe and the actual location is Greenwich, London.
In these terms, the regular operating hours of the forex market would be from Sunday 22:00 UTC to Friday, 22:00 UTC. In UK wintertime its 10 pm.
Considering that New York time is 5 hours behind UK time, the forex market globally would open and close at Sunday 5 pm and Friday 5 pm in New York, 2 pm at the west coast of the US, 11 pm at Germany and lastly 8 am Monday and 8 am Saturday in Australia, Sydney to be exact.
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The hours of the different leading national markets are as mentioned below:
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
Illustrated 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.
However, this does not consequently mean that trading will be good at all of these periods. Just after an important market opens, the prices can be very volatile and variable.
A big number of traders premeditatively refrain from avoid trading from 1 to 4 hours daily during the 4 opening times of major league bourses.
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Thus in theory, trading can be realized from Sunday to Friday, 24 hours routinely. It even becomes certain physically owing to trading software that utilize robots.
At any rate, a safe trader will choose his times and will not be active during all of the forex market hours.
Disclaimer: Foreign Exchange trading is not risk free, may result in substantial losses, and is not appropriate for every person.
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