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Forex Market Hours

Use the Forex Market Time Converter, below, to view the major market open and close times in your own local time zone.

About The Forex Time Zone Converter

The foreign exchange ("forex" or "FX") currency market is not traded on a regulated exchange like stocks and commodities. Rather, the market consists of a network of financial institutions and retail trading brokers which each have their own individual hours of operation. Since most participants trade between the hours of 8:00 a.m. and 4:00 p.m. in their local time zone, these times are used as the market open and close times, respectively.

Time and date: 06:06 AM 27-September-2018 EST

Click on a time zone for Daylight Saving Time (DST) transition dates and times.

The Forex Market Hours Converter assumes local "wall clock" trading hours of 8:00 AM - 4:00 PM in each Forex market. Holidays not included. Not intended for use as an accurate time source. If you need the precise time, see http://www.time.gov. Please send questions, comments, or suggestions to webmaster@timezoneconverter.com.

How to use the Forex Market Time Converter

The forex market is available for trading 24 hours a day, five and one-half days per week. The Forex Market Time Converter displays "Open" or "Closed" in the Status column to indicate the current state of each global Market Center. However, just because you can trade the market any time of the day or night doesn't necessarily mean that you should. Most successful day traders understand that more trades are successful if conducted when market activity is high and that it is best to avoid times when trading is light.

Here are some tips for using the Forex Market Time Converter:

  • Concentrate your trading activity during the trading hours for the three largest Market Centers: London, New_York, and Tokyo.
  • Most market activity will occur when one of these three markets open.
  • Some of the most active market times will occur when two or more Market Centers are open at the same time. The Forex Market Time Converter will clearly indicate when two or more markets are open by displaying multiple green "Open" indicators in the Status column.

Forex Market Hours

Forex is a highly dynamic market with lots of price oscillations in a single minute, this characteristic of the Forex market allows traders to enter the market many times a day and pull some profit from these number of trades. If you want to find an appreciable number of profitable trades you need to enter the forex market at the best period of time, i.e., when the activity, the volume of transactions, is the highest.

The main timing characteristics of the Forex market are the following:

* Forex is 24 hour market – It starts from Sunday 5pm EST through Friday 4pm EST. Rollover at 5pm EST

* Forex Trading begins in New Zealand, followed by Australia, Asia, the Middle East, Europe, and America

* The US & UK account for more than 50% of the market transactions

* Forex Major markets: London, New York, Tokyo

* Nearly two-thirds of NY activity occurs in the morning hours while European markets are open

* Forex Trading activity is heaviest when major markets overlap.

From this timing facts, it is quite visible that at any given time, somebody somewhere in the world is buying and selling currencies. As one market closes, another market opens. Business hours overlap, and the exchange continues as day becomes night and night becomes day.

Forex market volume of transactions remains high during the whole day, but peaks highest when the Asian market(including Australia & New Zealand), the European market and the U.S. market are open simultaneously. And these are the trading hours you must target in order to find the highest possible amount of profitable trades.

This is the breakdown of OPEN Market Times for your reference:

* New York Market trade times: 8am-4pm EST

* London Market trade times: 2am-12Noon EST

* Great Britain Market trade times: 3am-11am EST

* Tokyo Market trade times: 8pm-4am EST

* Australia Market trade times: 7pm-3am EST

If you pay attention to the last schedule you will notice that there are two times when two of the major markets overlap during trading hours; between 2am and 4am EST (Asian/European) and between 8am to 12pm EST(European/N. American).

Forex Market Hours


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Given the global nature of currency trading, the market is open for business around the clock, 24 hours a day. It is important for the trader to know the times when the major markets are active and how this can be implemented in their trading.

As a general rule, a specific currency will usually be most active when that particular market is open. For example, the GBP and its related pairs, while active and tradable 24 hours per day, tends be most active and widely traded during the hours when the London market is open. Meanwhile the JPY and its related pairs will be more widely traded during the Tokyo business day.

The market hours for the major FX markets are as follows:

London – 3 AM through 12 noon Eastern time (

35% of total FX volume)

New York – 8 AM through 5 PM Eastern time (

20% of total FX volume)

Sydney – 5 PM through 2 AM Eastern time (

4% of total FX volume)

Tokyo – 7 PM through 4 AM Eastern time (

6% of total FX volume)

The above information can be utilized in several ways. The more trades that are being executed during a given time (all things being equal), the narrower the Bid/Ask spreads will be. Greater liquidity results in a narrower spread.

Also, we see that between the hours of 8 AM and 11 AM Eastern US time, the two largest markets (London and New York) overlap one another for about 3 hours. This represents a key trading time slot for many traders. Keep in mind that each trading day will be different from every other and there are no guarantees that this time frame will generate incredible trades on a regular basis. However, with the London and New York markets open and trading simultaneously, more trading opportunities often present themselves.

While we see an overlap between the trading hours of the Tokyo and Sydney markets, it is not as significant as the London and New York overlap due to the significantly lower overall trading volume.

While the FX market technically never closes, virtually all of the major banks and trading entities do close for the weekend. The volume over the weekend is so small that it tends not to offer much trading opportunity for traders. While some activity can occur depending on fundamental news that may occur over the weekend, generally any movement in the currency pairs is negligible, and trading liquidity is extremely thin, making trade execution difficult and spreads very wide.

Given differences among traders, some will keep positions open over the weekend while others will close all open positions before 4 PM Eastern on Friday.

You should now have the information that you need to understand trading hours in the currency market.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

Forex Market Hours

The Forex market, unlike other financial markets is a 24 hour affair. That’s right, you can trade in and out of the Forex market day or night between the Forex market hours of 5pm Sunday (EST) to 5pm Friday (EST).

While this provides a great opportunity for traders to take advantage of the world market, it does have its drawbacks.

In this lesson we’ll take a look at the various trading sessions that make up the Forex market as well as the advantages and disadvantages that come with trading a 24 hour market.

The 24 Hour Market

At this point you may be asking, if Forex is indeed a 24 hour market, why can I only trade Monday through Friday?

This brings me to a very common misconception in the Forex world – the idea that the market closes on weekends. In truth, the Forex market never closes. The only thing that closes is the ability for retail traders to participate.

What is a retail trader, you ask? Put simply, a retail trader is someone who buys or sells for their personal account, and not for another company or organization. So unless you are an institutional trader, you are a retail trader.

So although the ability for retail traders to participate is halted over the weekends, the Forex market as a currency exchange is alive and well. This is what creates so called “gaps” when the market opens at the beginning of the week. It’s simply the result of your broker updating their charts from last week’s price action to the current price action at the start of the trading week.

We’ll get into gaps in a later lesson. For now just know that the market never closes due to the needs of international trade, as well as the needs of central banks and global industries to conduct business.

There are various sessions that occur around the world which make up the Forex market hours each day. Let’s take a look at those market sessions.

Forex Market Sessions

Because this is a 24 hour market, there is always at least one active trading session. There are even times when these sessions overlap.

The easiest way to visualize how these Forex market sessions operate is to imagine the earth relative to the sun. Wherever the sun is shining, the Forex market is open. This is of course a simplified way of thinking about it, but it does help to visualize the Forex trading hours in this way.

The chart below shows the different Forex market sessions in Greenwich Mean Time (GMT).

Here is a breakdown of the chart above in Eastern Standard Time:

  • New York opens at 8:00 am to 5:00 pm EST
  • Tokyo opens at 7:00 pm to 4:00 am EST
  • Sydney opens at 5:00 pm to 2:00 am EST
  • London opens at 3:00 am to 12:00 noon EST

As you can see from the chart above, there are several market sessions which overlap. The most obvious, and the most heavily traded, is the London / New York overlap. This is when liquidity is at its highest as many Forex market participants prefer trading during this time.

Which Session is the Best to Trade?

One of the most common questions among Forex traders is, when is the best time to trade? Like most things, it’s all relative to your trading style as well as your lifestyle. Obviously if you’re located in a part of the world where the London / New York session overlap occurs at 3 AM, this may not be the most advantageous for your lifestyle.

The great thing about trading price action on the higher time frames is that market hours and market sessions don’t particularly matter. For example, if you spot a bullish pin bar on the daily time frame, you would simply set your pending order and let the market decide what becomes of it. It doesn’t particularly matter which session triggers the order.

See my lesson on the best time frame for trading Forex for more information.

Advantages and Disadvantages

Like most things, there are advantages and disadvantages to the Forex market being a 24 hour market. I will note, however, that the disadvantages typically reign true with those just starting out. In fact, I feel confident in saying that the disadvantages below are what make the Forex market one of the more challenging markets to conquer as a beginning trader.

Let’s start with the advantages:

  • The 24 hour market offers the ability to trade at any time of the day regardless of your location in the world
  • No market closings during the week means very few gaps from one day to the next
  • Because it’s a 24 hour global market, there is much greater liquidity than that of other financial markets

Now for some disadvantages to Forex market hours:

  • The 24 hour nature of the Forex market can lead to traders over-thinking their positions
  • The Forex market requires more self-discipline to take breaks away from trading due to the market never closing

One thing that becomes immediately apparent to new traders is the Forex market’s ability to draw them in for hours at a time. Many new traders find it hard to take breaks from the market because they feel the need to monitor their positions at all times.

This is one of the more destructive habits of new traders and is enabled by the fact that the Forex market never closes.

The good news is that these disadvantages are easily cured by a well-structured Forex trading course, discipline and no small amount of practice.

Summary

I hope this lesson has shed some light on the subject of Forex market hours as well as the various market sessions that make up a 24 hour period.

Here are a few key points to keep in mind:

  • The Forex market is a 24 hour market that technically never closes
  • Retail traders are those who trade for their personal account
  • Retail trading hours in the Forex market are between 5pm EST on Sunday until 5pm EST Friday
  • There are 4 market sessions that make up the Forex market hours – London, New York, Sydney and Tokyo

I’ve read all your lessons and I must say it’s made me profitable at binary option I took a trading account from $150 to $78,970 in just one day thank you for this Justin truly you can apply this method of trading on any market which I recommend anyone to read through all of the courses to become more profitable thanks again Justin keep it up???

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About Justin Bennett

Justin Bennett is a Forex trader, coach and founder of Daily Price Action, the world's most popular Forex price action blog. He began trading equities and ETFs in 2002 and later transitioned to Forex in 2007. His "aha" moment came in 2010 when he discovered the simple yet profitable technical patterns he teaches today. Justin has now taught more than 2,000 students from over 70 countries in the Daily Price Action course and community. He has also appeared in various printed material including an interview in Stocks & Commodities magazine.

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