The foreign exchange market or Forex market is a 24-hour market that operates from Sunday evening to Friday evening. In this market, traders buy and sell currencies from all around the world. The Forex market is the most liquid and largest financial market globally, with over $5 trillion in daily trading volumes.
Forex markets are closed on weekends and public holidays, with trading beginning on Monday morning in Sydney, followed by Tokyo, London, and finally New York. Each market operates during its respective time zone, with overlaps in trading hours between the different markets.
So what time do Forex markets close on Friday? The answer depends on the time zone you are in. In general, Forex markets close at 5 pm EST on Friday and open at 5 pm EST on Sunday. However, some brokers may differ in their closing and opening times, especially during public holidays.
For traders in the Eastern time zone, Forex markets close at 5 pm EST on Friday, and on Sunday, they open at 5 pm EST. For traders in the Central time zone, Forex markets close at 4 pm CST on Friday and open at 4 pm CST on Sunday. For traders in the Mountain time zone, Forex markets close at 3 pm MST on Friday and open at 3 pm MST on Sunday. Finally, traders in the Pacific time zone will see Forex markets close at 2 pm PST on Friday and open at 2 pm PST on Sunday.
It’s worth noting that some brokers may operate on a different time zone than the one you are in. Therefore, it’s critical to know your broker’s trading hours to avoid any confusion or missed trading opportunities.
Forex markets operate continuously worldwide, with different time zones, making it essential to understand the different trading sessions‘ dynamics. The four major Forex trading sessions are the Sydney session, the Tokyo session, the London session, and the New York session. Each session has its unique characteristics and trading opportunities.
The Sydney session opens on Sunday evening and closes on Monday morning, with the most significant trading activity seen in the Australian and Asian markets. The Tokyo session follows the Sydney session and is typically the most active session for the Asian markets. It starts at 7 pm EST and closes at 4 am EST.
The London session is the most active session in the Forex market, with the most significant trading volume seen in European markets. The London session opens at 3 am EST and closes at 12 pm EST. Finally, the New York session starts at 8 am EST and closes at 5 pm EST, with the most significant trading volume seen in North American markets.
In conclusion, Forex markets close on Friday at 5 pm EST and open on Sunday at 5 pm EST. Understanding the different trading sessions’ dynamics and your broker’s trading hours is crucial for successful Forex trading. As the Forex market is a 24-hour market, traders can take advantage of different trading opportunities worldwide.
