Forex trading is the most liquid market in the world, with approximately $5.3 trillion traded every day. The Forex market is open 24 hours a day, five days a week, with the exception of weekends and public holidays. This means that traders from all over the world can trade currencies at any time of the day, making it a versatile market that never sleeps.
Forex market hours vary depending on the time zone you are in. The Forex market opens at 10 pm GMT on Sunday and closes at 10 pm GMT on Friday. This means that during the week, the Forex market is open 24 hours a day, except for weekends. However, the market is not always active and volatile throughout the day. There are certain times when the market is more active than others, and this is where traders can take advantage of market movements.
The Forex market is divided into three major trading sessions: the Asian, European, and North American sessions. Each session has its own characteristics, and Forex traders need to take note of these to maximize their trading opportunities.
The Asian session starts at 10 pm GMT on Sunday and ends at 9 am GMT on Monday. This session is characterized by low volatility, with the Japanese yen being the most traded currency during this session. The European session starts at 7 am GMT and ends at 4 pm GMT. This session is the most active session, with the euro being the most traded currency. The North American session starts at 12 pm GMT and ends at 9 pm GMT. This session is characterized by moderate volatility, with the US dollar being the most traded currency.
LMFX, a Forex broker, follows the same trading hours as the Forex market. However, it is important to note that LMFX’s server time is GMT+2. This means that when the Forex market opens at 10 pm GMT on Sunday, LMFX’s server time is 12 am. LMFX’s trading hours are from 00:05 server time on Monday to 23:55 server time on Friday.
It is important for Forex traders to take note of the trading hours of their Forex broker, as it will affect the timing of their trades. Some Forex brokers may have different trading hours, and traders need to be aware of these to avoid any confusion.
In conclusion, the Forex market is open 24 hours a day, five days a week, and LMFX follows the same trading hours as the Forex market. However, traders need to take note of the different trading sessions and the characteristics of each session to maximize their trading opportunities. It is also important to be aware of the trading hours of your Forex broker to avoid any confusion.