The currency market commences from Monday morning in Shenzen, China to Friday afternoon in New York. Somewhere around the world at all hours of the day or night, you deal in foreign exchange.
It does adjourn on weekends so it’s not a real 24/7 market. So probably the apt term would be 24/5 instead of 24/7.
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So should you want to keep educated about the absolute opening and closing times of the forex market, consult time zones. By using UTC, it becomes an undemanding procedure.
Greenwich or GMT is the one-time title of UTC or Universal Coordinated Time. It is the precise winter time at zero longitude on the globe that is Greenwich, London.
Hence the standard foreign exchange market working hours would be commencing from Sunday 22:00 UTC to Friday 22:00 UTC. In UK wintertime it will be 10 pm.
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.
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The hours of the different primary 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
Portrayed 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 the given facts it can be seen that the markets are in fact open 24 hours globally.
However, this does not compulsorily mean that trading will be good at all of these periods. Just after a primary market opens, the prices can be very volatile and variable.
A big number of traders premeditatively abstain from avoid trading from 1 to 4 hours daily during the 4 opening times of major league bourses.
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In theory then, trading can be consummated from Sunday night till Friday night, 24 hours daily. Automated software in the shape of a forex robot can even make this physically achievable.
At any rate, a smart trader will choose his times and will not be active during all of the forex market hours.
Note: Forex investing can be dangerous, may end up in substantial losses, and is not suitable for everyone.