In many of the areas where this time zone is used, during fall to winter months Greenwich Mean Time is observed, and then during Daylight Saving (spring to summer months) Irish Standard Time ( IST) or British Standard Time ( BST) is observed. It runs through several European and African countries.ĭepending on where the time zone is being referenced, it may be called one of these additional names: Territories observing the time zone are primarily in Europe, Africa, North America and Antarctica. That means to find the standard time in the zone you only need to refer to Coordinated Universal Time. The forex market closed on Friday at 5:00 pm ET.Greenwich Mean Time is the same as Coordinated Universal Time standard, written as an offset of UTC +/- 00:00. France, including its overseas territories, has the most time zones with 12 (13 including its claim in Antarctica). Time zones of a country include that of dependent territories (except Antarctic claims). The forex market opens on Sunday at 5:00 pm ET. This is a list representing time zones by country.Countries are ranked by total number of time zones on their territory. The forex market technically never closes, but retail traders can only trade the hours between Sunday at 5:00 pm ET and Friday at 5:00 pm ET. The most active times will occur when two or more trading sessions overlap and are open at the same time.įrequently Asked Questions about Forex Market Hours What are the forex market hours? The Greenwich Mean Time corresponds to the UTC 0 time zone, i.e., the Coordinated World Time with an offset of 0 hours.Most market activity will occur when one of these three markets open.Concentrate your trading activity during the trading hours for the three busiest trading sessions: Tokyo, London, and New York.Here are some tips for using the Forex Market Time Zone Converter: How to Trade with the Forex Market Time Zone Converter And EUR/USD will experience a higher trading volume when both London and New York sessions are open. Most of the trading activity for a specific currency pair will occur when the trading sessions of the individual currencies overlap.įor example, AUD/JPY will experience a higher trading volume when both Sydney and Tokyo sessions are open. The best time for you to trade forex will depend on which currency pair you’re looking to trade. More than 50% of trading volume occurs at these two financial centers. The highest trading volume occurs during the overlap of the London and New York trading sessions. When two major financial centers are open, the number of traders actively buying and selling a given currency greatly increases. You usually want to avoid trading when only one trading session is open and instead, wait for trading sessions to overlap. When is the best time to trade forex?ĭuring the weekdays, there’s always at least one forex trading session open although there are periods of downtime when the market is really quiet and trading volume is low or “thin”. In a nutshell, you'll get better order execution. The more active the market, the tighter the spreads you'll get and the less slippage you'll experience. The more traders…trading, the higher the trading volume, and the more active the market. The forex trading sessions are named after major financial centers and are loosely based on the local “work day” of traders working in those cities. And this is why you should focus your energy during specific trading sessions. In order for the market to move, lots of trades need to occur. But you will have a very difficult time trying to make money when the market doesn't move at all. You can make money trading when the market moves up, and you can even make money when the market moves down. The forex market can be broken up into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. and its territories, is NOT observed in Hawaii, American Samoa, Guam, Puerto Rico, the Virgin Islands and the state of Arizona (not the Navajo Indian Reservation, which does observe DST). The best time to trade is when the market is active with lots of forex traders opening and closing positions, which creates a large volume of trades. Each time zone shows current time in that area (colour-coded) Daylight Saving Time, for the U.S. Just because you can trade the market any time of the day or night doesn't necessarily mean that you should. The Forex Market Time Zone Converter displays which trading session(s) is open in your current local time. You need to know when the forex market opens and closes as well as the four main trading sessions. Knowing the forex market’s operating hours is essential for a trader. The forex market is open 24 hours a day during the weekdays which allows traders to potentially trade all day and all night. How to use the Forex Market Time Zone Converter
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