When the forex market is open for business, sellers and buyers can make transactions. The forex market operates Monday through Friday and is closed on Saturdays and Sundays.
The functioning of these forex exchange markets is crucial to international trade. They include institutional and retail forex traders, brokers, investors, banks, and commercial companies.
Learning when the forex market is open for business
People worldwide come to the forex market to buy, sell, trade, or speculate on the value of various currencies. The foreign exchange market operates nonstop Monday through Friday but is closed on weekends.
This market is available every day of the week (excluding Saturdays and Sundays) because it operates in more than one-time zone. This pause becomes shorter as time zones are traversed.
The foreign exchange market opens on Sundays at 5 p.m. in New York City. Trading is suspended at the end of the day on Fridays until the following Monday.
Foreign exchange, or the forex market, is where currencies of other countries are traded. There may be variations in the regulations from one trading session to the next.
Specific sessions or high-volume hours
Trading hours on the Forex market are based on local market hours in each participating country. Although there is considerable overlap, the busiest times in each city are generally considered to be:
- Monday through Friday 8 a.m. to 5 p.m. (EST) in New York
- 7 p.m. – 4 a.m. (EST) in Tokyo
- From 9:00 p.m. EST until 12:00 a.m. EST in Sydney.
- In London, between 3 and 11 a.m. (EST)
The largest populations are found in the London and New York time zones. When both the New York morning and the London afternoon sessions occur at once, trading activity is at its peak.
When do the four Forex trading sessions take place?
London’s market is open from 7 a.m. to 4 p.m., New York’s from 1 p.m. to 10 p.m., Sydney’s from 9 p.m. to 6 a.m., and Tokyo’s from 12 a.m. to 9 a.m., all in Coordinated Universal Time (UTC).
When does trading end in the U.S. market?
At 10 p.m. EST, Monday through Friday (unless when closed for the weekend). New York’s forex market opens at 5 p.m. on Sunday and closes at 5 p.m. on Friday, UTC (when all the regional sessions are added together).
Seven most traded currencies in the world
Although the foreign exchange market operates around the clock, not all currencies from developing nations are traded at all hours.
The seven most traded currencies are the U.S. dollar, Euro, Japanese yen, British pound, Australian dollar, Canadian dollar, and Swiss franc. While the foreign exchange market is open, trading occurs continuously.
Forex exchange (F.X.) traders worldwide typically deal with groups of seven currencies and favor times of high volume.
Bottom line
Each participating country has its schedule for when its foreign currency market is open. Markets are available for 24 hours each day, 5 days per week. Forex trading does not occur over the weekend.
