Market opening times forex gmt hours

To make it easier to understand when exchanges are open, you should view the opening and closing times at each location worldwide with a common base reference time. For instance, the information you're reading here is referenced in GMT. This isn't wrong, but it can become confusing. Using a time that is standard worldwide makes it easier for you to know when you can trade.

If you're trading when the U. When you look for information on the markets, you'll see that they are often referred to as being open "24 hours a day. There are two factors to become familiar with. First, if it's midnight in New York, and the New York forex market is closed, it's the middle of the trading day somewhere else, such as Tokyo, for instance. Second, keep in mind that forex, as a worldwide market, is entirely virtual.

There's no trading pit anywhere. When you enter a midnight forex trade on your laptop in New York, the trade is executed in Tokyo or in another of the several trading centers worldwide that are open when you initiate the trade. You can trade anytime you want, although you should note that you'll get the narrowest spreads the broker's profit margin when the maximum number of trading centers are open.

To be more precise, when the trading volume for your currency trade is greatest, you'll have the lowest broker transaction fees. Note Any given trading center is open for eight hours or more per trading day, but this really doesn't matter, because somewhere in the world, a trading center is open.

Some websites may declare without further explanation that the forex is "open 24 hours a day, seven days a week," while others might note that the forex market is open "five days a week. They contradict each other, because trading centers are only open for eight hours, but you can trade 24 hours a day.

Since the exchanges are in different time zones, there are hours and days in which they are open that overlap. So, it is true that while trading centers keep five-day work weeks, somewhere in the world, another trading center is open when that trading center is closed.

This is the happy result for traders of how the day of the week shifts forward or back as you cross the international dateline. Since you don't have to be present in a trading pit or speak with a broker to make trades, you can trade when it's best for you. Your trade might execute halfway around the world, but it doesn't matter, because a forex market is open somewhere.

That's the basic information you need—at least when it comes to trading times. Remember that you'll get the best trading spreads when the volume is peaking. Per the International Monetary Fund, this action effectively removed the Bretton Woods system of fixed exchange rates. Four Major Forex Markets Although each nation tied to the global financial sector operates under its distinct time zone, the bulk of forex market trading occurs in these four regions listed in order of opening hours based on Greenwich Mean Time : Sydney: Taken as a whole, forex market trading hours begin in Sydney at 10 p.

London: Next to open is the London market, basically the crown jewel of forex market hours. New York: Last but certainly not least, New York represents the caboose of forex market hours. Interestingly, each market zone also features a distinctive trading personality. For instance, the Asian session at times features low liquidity. However, the price action can start moving as fundamental catalysts from Australia, New Zealand and Japan materialize.

During the London session, volatility can be a bear to wrestle with until the middle of the period. Closer to home, the New York session tends to feature high liquidity in the morning hours, when it overlaps with the twilight of the London session.

Saturday provides a rare respite while the market picks back up again on Sunday. Below is the schedule for the main forex market trading hours. Sydney: Opens at 10 p. GMT, closes at 6 a. GMT Tokyo: Opens at 12 a. GMT, closes at 8 a. GMT London: Opens at 8 a. GMT, closes at 4 p. GMT, closes at 9 p. Primarily, professional traders prefer participating during these overlapping hours because of the increased volatility. Without market velocity, traders find it difficult to extract net returns for their speculative activities.

As well, higher liquidity tends to yield narrower bid-ask spreads , thus making it easier for traders to generate net profits. Sydney and Tokyo: The overlap occurs quickly as after two hours of trading in the Sydney session, Tokyo opens its doors. Tokyo and London: While not technically an overlap Tokyo closes while London opens at 8 a. GMT , British traders can accrue significant data from both the Tokyo and Sydney forex session times, thus providing potential preparatory research.

GMT and 4 p. Therefore, the first three hours in New York tend to be the wildest in terms of volatility. Thus, professional traders attempt to participate at a time when the bulk of that money swaps hands. From an objective standpoint, the best time to trade forex is between 8 a. ET to 12 p.

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28 major currency pairs forex would like

This is because New York is one of the biggest financial centers in the world as well as being the East-most major city in America. The American session starts when Europe is only half-way through. Also, please note that you are going to get an extremely fast-paced and volatile market. The strategy is called Simple System and you can find it in this course. Overlaps — Best times to trade the Forex market? The weekend is the best time for planning. No open markets, no news, no economic events to disturb you.

Elections, referendums, or similar events may cause market gaps, which can delay the trigger of StopLoss orders. You should assess the risk to take the following week. This will depend on your trading strategy and profile. Scalpers, swing traders, and investors have a different time horizon. For this reason, they may have different expectations regarding the duration of a trade.

Scalpers will strive for precision and accuracy. However, swing traders will strive to get the right market direction. Finally, investors will choose the time, rather than price, for positioning. Considering major Economic Events One of the main reasons why the Forex market moves come from economic data or news.

Fortunately, these events are scheduled in the economic calendar. Then, traders know in advance that markets get volatile during specific hours of a day. The main reason for this volatility was the higher-than-expected NFP value of k. However, you can notice that after a couple of hours the price stabilized and continued its horizontal trend. Hence, the concept of Forex Market Hours derives from the notion that when major financial markets are open in a given time zone, the volume and liquidity in the market remains high, which in turn reduces the difference between the bid and ask prices and helps traders to fill their orders relatively easily without incurring slippage.

After all, as a retail Forex trader with limited capital, you will not be in a position to move the market. You will solely rely on larger players like banks and institutional investors to create the trends and hopefully catch a few to turn a profit. This is why short-term retail Forex traders should trade only during active banking hours and avoid looking for trading opportunities when the forex market hours clock stops ticking.

Dollars to get some British Pound for pocket money at an Airport Foreign Exchange Kiosk after arriving in London, in the middle of the night, it would be also considered as a foreign exchange trade. However, as you can guess by now, large billion-dollar, cross-border, transactions do not happen at 3 a.

Moreover, not all branches of a certain big bank will do these large-scale cross-border transactions. For example, a small branch of the Bank of America in Louisville, Kentucky. However, its downtown Manhattan branch in New York will certainly engage in large-scale foreign exchange deals.

Similarly, a branch of the Swiss multinational investment bank, UBS Group AG, in Bangkok will have a lower transaction volume in the Forex market compared to its branch located in a major Asian financial hub like Singapore. Therefore, liquidity and volatility are usually higher when markets are open in these time zones. Besides banks engaged in commercial cross-border currency transactions, institutional investors and hedge funds speculating in the international stock exchanges also generate a high volume of foreign exchange transactions.

Hedge funds with international exposure often buy and sell a large number of stocks across the globe to diversify their portfolios. Coincidentally, some of the major forex exchange hubs also host the major stock exchanges. So, cross-border investments that require moving funds from one end of the globe to another generally contributes to a higher level of trading volume in the global foreign exchange market.

Furthermore, when banks and stock exchanges in more than one major financial centers are open simultaneously, the trading volume and liquidity go up substantially. Figure 2: Best Time to Trade Forex - Based on Trading Volume in Different Forex Market Hours This is why the beginning of the New York trading session has usually generated the bulk of the trading opportunities for short-term traders because it opens when the London trading session is also open across the Atlantic.

Hence, if you overlay the trading volatility in a forex market hours chart, you can see that it spikes up when trading begins in the financial center located next in the time zone. And so Overlapping hours of the London trading session and the New York trading session is the best time to trade forex, since the market is most active.

The Choice of Your Forex Market Hours Depends on Your Strategy If you are a swing trader or a trend trader who likes to keep positions open overnight or several days at a time, then paying attention to the forex market hours chart in figure 2 may not be that important. However, most Forex traders are day traders and different trading sessions based on the time zone and geographic location of the financial centers around the world will have a substantial impact on the bottom line.

While the actual trading strategy you have may not change, knowing when to trade can certainly help you stop wasting time looking for trades when are no trading opportunities in the market. Furthermore, success in Forex trading in highly depends on timing, as trends can often reverse and wipe out the profits in your open trades.

Knowing when to enter and exit the market based on active Forex market hour can have an immensely positive impact on your profitability and aid in building the confidence you need to succeed in this agile market environment. Let's take a look at three major Forex market hour-based strategies you can apply today to improve your win rate and increase profitability. While a lot of brokers also show price gaps in line charts, it is best illustrated in a bar or candlestick chart.

When a currency pair sharply goes up or down with no transaction in between, it is represented in a price gap. While most brokers suspend trading during the weekend, the fact is that economic news and geopolitical events still occur on Saturdays and Sundays. As a result, the valuation of different currency pairs can change after the brokers suspend trading on Friday.

When the market re-opens on Monday morning, at a. For example, let's say a hostile country like Iran might have announced to test a nuclear weapon after the market closed on Friday. As a result, the value of the U. Dollar may drop during the weekend. Trading price gaps on Mondays can be very profitable as most often gaps are filled before the actual trend takes place, be it the continuation of the trend in the direction of the price gap or a complete reversal.

While the uptrend continued throughout Monday, a bearish retracement started on Tuesday, July 2, , and the gap was filled before the uptrend resumed. Hence, often major trends start and end during the London Forex market hours. If you are a Forex trader who applies breakout trading strategies, it makes perfect sense to look for breakout trades at the opening hours of the London market open.

To do so, of course, you need to trade in smaller time frames like the 5-minute or the minute charts. In terms of the actual trading strategy, trading during the London market opening hour is no different than trading any other time of the day. However, given the significant increase in trading volume at this time, it makes breakout trading much more lucrative.