Forex Market Trading Hours: Could You Trade Foreign Currency 24/7?

Forex market hours available to you will be dependent entirely on your location. If you need to know the particular times that the markets open and close, you will need to take time zones into account. It is straightforward when expressed in UTC. It is Universal Coordinated Time, previously known as Greenwich Mean Time. This is the standard (winter) time in Greenwich, UK which is the location of zero longitude on the globe.

So, the standard forex market hours are 22.00 Sunday UTC to 22.00 Friday UTC. It is 10 pm in the UK in winter.

Though it is not a 24/7 market since it does shut down on Saturdays and Sundays. 24/5 could very well be more correct.

New York City is 5 hours behind the UK so the global financial market opens and closes at 5 pm Sunday/Friday in New York, 2 pm on the US west seaboard, 11 pm in Germany, 8 am Monday-Saturday in Sydney.

Times get a little more complicated when you start to try to take daylight saving into account. This will make an hour variance in nations that observe it. Even so daylight saving functions in a different way in the southern hemisphere countries such as Australia which have summer months from September to March instead of March till September.

The actual hours of the various primary global markets are as follows:

Sydney: 10 pm to 7 am UTC

Tokyo: 12 midnight until 9 am UTC

London: 8 am to 5 pm UTC

New York: 1 pm till 10 pm UTC

Or you can easily express that in (Eastern US time):

Sydney: 5 pm till 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

You will see that these correspond to 24 hour coverage.

Even so, that does not automatically mean that trading is going to be good at all of these times. Just after a primary market opens, the prices could be very volatile and erratic. Many professionals will avoid the foreign exchange market for roughly an hour four times a day when the financial markets are waking up in these major cities.

The US Dollar is the most traded forex by a long way, involved in 2.5 times as many trades as its closest rival the euro. Which means that affairs in the US have a larger impact on the financial markets than events in other nations. The New York market tends to decline around 3 pm local time (8 pm UTC) and if you are involved in a US Dollar pair, this may very well be a good time to finish trading for the day.

So theoretically you can trade 24 hours a day from Sunday night till Friday night. Automated software in the form of a forex robot can perhaps even make this physically achievable. In spite of this, a careful trader will pick his times and would not be active during all of the forex market hours.

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