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: 08:06 PM 27-September-2018 Asia/Tokyo
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 firstname.lastname@example.org.
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 Watch – Avoid Foreign Exchange Trading Scams and Frauds
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ForexFraud.com provides a great deal of excellent resources in the Forex Articles section, the Learn Forex Beginner Course and the Popular Articles to the right. We also have compiled a list of trusted forex brokers for you to choose from. Our aim is to satisfy every forex trading need.
Further Information on Forex Scams & Frauds
Forex fraud is a growing problem. It can be found everywhere from boiler room scam artist’s, to some guy you met at the coffee shop the other day, even past trusted brokers and executives have been involved in forex scams. The most common victims are the one’s who think it will never happen to them. Though there is no guaranteed way to avoid forex fraud, it is possible to trade, minimize the chance of becoming a victim of a forex scam, and prosper in the forex market providing you remain diligent and alert in every decision you make. Don’t let your hard earned dollars become an easy profit for some forex scam artist, make sure any person you choose to do business with is duly regulated in the country they operate from.
What is the 'Forex Market'
The forex market is the market in which participants can buy, sell, exchange, and speculate on currencies. The forex market is made up of banks, commercial companies, central banks, investment management firms, hedge funds, and retail forex brokers and investors. The currency market is considered to be the largest financial market with over $5 trillion in daily transactions, which is more than the futures and equity markets combined.
Forex Option & Currency Trading .
BREAKING DOWN 'Forex Market'
The foreign exchange market is not dominated by a single market exchange, but a global network of computers and brokers from around the world. Forex brokers act as market makers as well, and may post bid and ask prices for a currency pair that differs from the most competitive bid in the market.
The forex market is made up of two levels; the interbank market and the over-the-counter (OTC) market. The interbank market is where large banks trade currencies for purposes such as hedging, balance sheet adjustments, and on behalf of clients. The OTC market is where individuals trade through online platforms and brokers.
From Monday morning in Asia, to Friday afternoon in New York, the forex market is a 24-hour market, meaning it does not close overnight. This differs from markets such as equities, bonds, and commodities, which all close for a period of time, generally in the New York late afternoon. However, as with most things there are exceptions. Some emerging market currencies closing for a period of time during the trading day.
The Big Players
The US dollar is by far the most traded currency, making up close to 85 percent of all trades. Second is the euro, which is part of 39 percent of all currency trades, and third is the Japanese yen at 19 percent. (Note: these figures do not total 100 percent because there are two sides to every FX transaction).
According to the 2015 Euromoney survey, Citigroup and Deutsche Bank were the two biggest banks in the forex market, combining for more that 30 percent of the global market share.
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Forex broker server time (GMT offset)
When it comes to MT4 charts, not all brokers are created equally. Depending on the MT4 broker’s server time, the charts or the candlesticks on the charts are calculated differently. For example, most GMT brokers tend to have an additional candlestick such as Sunday candlesticks as well. While this might seem to be not much of an issue, when making use of pivot points (especially daily pivots that are used on the intraday charts) the pivot values vary quite differently.
Besides the aspect of the different in pivot points, even the indicators such as moving averages or oscillators such as Stochastics or RSI are also calculated differently in comparison to regular GMT+2 or +3 brokers.
The first chart below gives one such example. In the chart below, we make use of a GMT broker, where the ‘Sunday’ candlestick is shown on the chart.
GMT Broker with Sunday Candles
The next chart below illustrates the same GBPJPY daily chart but without ‘Sunday’ Candlesticks and based off GMT+2 (or +3).
GMT+3 Broker without Sunday Candlesticks
GMT+2 (or +3 during European Summer DST): Forex brokers whose servers are based off GMT+2 (or +3) server time usually tend to offer 5 candlesticks during a week, representing 5 days of trading sessions in the week. Typically, GMT+2(+3) brokers follow the GMT timings of 5PM EST as the open and close of a new day’s trading session.
GMT: The GMT brokers tend to offer 6 days of candlesticks during a week, where the Sunday candlestick is also included. As can be understood, the GMT brokers have an additional trading session (i.e: Sunday) for the week. Of course, some brokers tend to offer GMT server time but exclude the Sunday candlestick in order to maintain a uniform, 5 day trading week.
GMT or GMT+2 broker, which is more ideal?
Technically speaking, the only difference between these two types of broker server times is the difference on the way the daily candlesticks are calculated. However, if you shift to a lower time frame, the hourly and lower charts tend to be uniform as far as the candlesticks are concerned. However, the differences are noticeable when you focus on the daily or H4 chart time frame candlestick patterns.
In view of this confusion, a trader might often wonder whether they want to follow the candlestick patterns on the GMT broker or the GMT+2 broker. From a technical analysis perspective, traders should simply follow the sentiment offered by the candlestick patterns as they exhibit market sentiment irrespective of whether your broker’s server time is GMT or GMT+2.
In other words, a bullish engulfing on a GMT time zone based chart exhibits the same bullish sentiment as it appears on the GMT+2 time zone as well.
How to find out Server time your broker
When in doubt as to which Server time your MT4 broker is following, a simple and easy way to find out is to click on the ‘View’ from the Main Menu and select ‘Market Watch’ or click ‘Ctrl+M’ to display the market watch window. On the top of this window, the broker show’s their server time.
The picture below shows a GMT+3 broker whose server time is shown on top of the Market Watch window.
MT4 – Market Watch Tab, Broker’s Server Time
To compare the broker’s time to your time zone or to GMT time, the following resources could be helpful.
How to find out GMT offset your broker? – see difference between server time and GMT
Timezone MT4 indicator
The following free indicator for MT4 platform can be used to display the different time zones and the broker’s server time on the chart. (Download from here)
MT4 Time zone Indicator
From the above article, traders should be able to easily find out what time zone their broker is following and also be able to understand the differences between the GMT and GMT+2 candlesticks.