The forex market is the largest and most liquid financial market in the world, with an estimated daily turnover of over $5 trillion. It operates 24 hours a day, five days a week, from Monday to Friday. However, it is important to note that different regions have different trading hours.
The forex market is divided into four major trading sessions based on the time zones they operate in. These sessions are the Sydney session, the Tokyo session, the London session, and the New York session.
The Sydney session opens at 10 pm GMT on Sunday and closes at 7 am GMT on Monday. It is the first session to open and is considered relatively quiet compared to the other sessions because of its location. The Sydney session is also referred to as the Asia-Pacific session.
The Tokyo session opens at 12 am GMT and closes at 9 am GMT. It is the second session to open and is considered the most active session in the Asia-Pacific region. The Tokyo session is also known as the Asian session.
The London session opens at 8 am GMT and closes at 5 pm GMT. It is the most active session in the forex market and is considered the most significant trading session. The London session is also known as the European session.
The New York session opens at 1 pm GMT and closes at 10 pm GMT. It is the last session to open and is considered the most active session in the North American region. The New York session is also known as the US session.
It is important to note that the forex market is not closed during weekends, but it does experience reduced trading activity during this time. This is because most traders and financial institutions are closed during weekends. However, some traders who specialize in weekend trading take advantage of the reduced trading activity to make profits.
Another critical factor to consider when trading the forex market is daylight saving time. Some countries observe daylight saving time, which can affect the trading hours. During daylight saving time, the trading hours may shift by one hour. Traders should always check the current trading hours to ensure they do not miss any trading opportunities.
In conclusion, the forex market operates 24 hours a day, five days a week, from Monday to Friday. It is divided into four major trading sessions, including the Sydney session, the Tokyo session, the London session, and the New York session. Each session has different trading hours based on the time zone they operate in. Traders should always be aware of the current trading hours and any changes due to daylight saving time to take advantage of profitable trading opportunities.
