Forex Trading Hours – They Are Not The Same!
Forex trading hours are the hours when the foreign currency exchange market is open. Even though it may seem that Forex market is always open (it’s true in a way), some hours are better for trades, while other hours may actually do more harm than good. Forex trading hours are 24 hours a day, 5 days a week, except for the national holidays. Forex trading hours vary from country to country, according to the hours when main financial institutions of that particular country start and end their business day.
Experts identify four major time zones, whose Forex trading hours substantially differ: Australia, Asia, Europe and America. Forex trading hours in Tokyo begin at 23:00 GMT on Sunday. This starts the weekly trading session. The weekly trading session closes on Friday at 10 pm in Chicago.
Forex market is open at the time of major holidays just as well. However, of course, it’s not open in the country where the holiday is celebrated. For example, at the time of a major Christian holiday you can still get foreign currency quotes from the banks of Asian and Muslim countries, and the other way around. Thus, if you feel like trading, you will not have to wait for the holiday to pass in your country; you would just trade with others. It never happens that one holiday would happen in all of the countries all over the world at the same time.
Small volume of traded currencies (often referred to as thin) also occurs at the Forex market on the weekends, but the weekends spent trading at the Forex market, may not result in anything profitable, since it is very difficult to find a good contractor on the weekends, and it’s even harder to find a good price.
Forex is an international currency exchange. This market is continuously working, just like a hive, with zillions of transactions, selling and buying different currencies – Euro, US Dollars, Pounds, Yens, Canadian Dollars and Australian Dollars. You will be able to freely trade on the Forex market within the Forex trading hours.
Why were Forex trading hours established? Why cant the market be open 24/7 without holidays? Forex trading hours are also needed for employees to carry out certain necessary operations to maintain order at the market, as well as for the traders to simply get some “rest”.
Some people ask, why is it that Forex trading hours fall at night in their countries? Well, the reason behind that is that when it is night in one country, it is a daytime in another country. At the time when one country “goes to sleep”, financial institutions in another country are just starting to open.
Forex trading hours in the main 4 timezones
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Forex trading hours of various countries overlap one another, together totaling 24 hours each day for 5 days in the row. Thinner trades are also carried out on the weekends. Please take a look at the 4 main time-zones of the Forex trading hours (EST):
Tokyo, Trading Hours: 19.00 to 04.00 EST
New York Trading Hours: 08.00 to 17.00
London Trading Hours: 3.00 to 12.00 (noon)
Sydney Trading Hours: 17.00 to 02.00
Forex trading hours are also an important part of a trading strategy, since the trades will differ depending on the Forex trading hours, which you choose to trade at.
Author Steve Maenshel can help you understand forex trading hours. For more forex trading information, visit his forex resource center.
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