Forex Market Trading Hours: Are You Able To Buy And Sell Currency 24 Hours/7 Days?

Forex market hours accessible to you will depend entirely on your location. If you want to know the exact times that the markets open and close, you need to take the time zones into consideration. It is very easy when expressed in UTC. That is Universal Coordinated Time, formerly referred to as Greenwich Mean Time. This is the standard (winter) time in Greenwich, London which is the point of zero longitude on the globe.

So, the ordinary forex market hours are 22.00 Sunday UTC to 22.00 Friday UTC. That is 10 pm in the UK in mid winter.

Then again it is not a 24/7 market seeing that it does shut down on weekends. 24/5 would probably be more precise.

New York is five hours behind the UK so the global forex trading market opens and closes at 5 pm Sunday/Friday in NY, 2 pm on the US west coast, 11 pm in Germany, 8 am Monday/Saturday in Sydney, Australia.

Things soon get a more complicated when you begin to try to take summer time daylight saving into account. This makes at least an hour change in locations that observe it. On the other hand daylight saving operates in a different manner in the southern hemisphere countries such as Australia which have summer time from September to March instead of March to September.

The actual hours of the different important national markets are :

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

Or one can express that in EST (Eastern Standard time):

Sydney: 5 pm until 2 am EST

Tokyo: 7 pm to 4 am EST

London: 3 am till 12 noon EST

New York: 8 am to 5 pm EST

You can see that these correspond to 24 hour cover.

Having said that, this will not always mean that trading will be good at all these times. Just after a major market opens, the prices could be very volatile and irregular. Many brokers will stay out of the currency trading market for nearly an hour four times a day when the Forex markets are waking up in these major cities.

The US dollar is the most traded currency by a long way, involved in 2.5 times as many trades as its closest rival the euro. This implies that activities in the United States have a greater impact on the trading markets than events in other countries. The New York market tends to slow down around 3 pm local time (8 pm UTC) and if you are involved in a US Dollar pair, this might be a great time to cease trading for the day.

So technically you can trade 24 hours a day from Sunday night to Friday night. Automated software in the form of a forex robot can also make this physically achievable. Even so, a vigilant trader will select his times and will not be trading during all of the forex market hours.

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