The forex market is the largest and most active financial market in the world. It operates 24 hours a day, five days a week, which makes it an attractive trading option for traders around the globe. However, due to the differences in time zones, it can be challenging to determine when the forex market opens and closes in a particular location. In this article, we will discuss what time the TradersWay forex market closes in Eastern Standard Time (EST).
Firstly, it is essential to understand the different time zones that exist around the world. The forex market operates globally, and different countries have different time zones. The forex market is divided into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. These sessions overlap, allowing traders to participate in the market at any time of the day or night.
Secondly, it is important to note that the forex market follows the sun, which means that it opens and closes at different times depending on the location. For instance, when it is daytime in New York, it is nighttime in Tokyo. Thus, the forex market opens at different times in different countries.
In Eastern Standard Time (EST), the forex market opens at 5:00 PM on Sunday and closes at 5:00 PM on Friday. However, it is important to note that there are slight variations in the opening and closing times during daylight saving time. During daylight saving time, the forex market opens at 4:00 PM on Sunday and closes at 4:00 PM on Friday.
TradersWay is a forex broker that operates in multiple time zones. The company’s server time is based on Eastern European Time (EET), which is two hours ahead of Coordinated Universal Time (UTC+2). Therefore, traders who are based in EST will need to adjust their trading times accordingly.
TradersWay’s trading hours vary depending on the instrument being traded. For instance, forex pairs are available for trading 24 hours a day, five days a week. However, commodities and indices have specific trading hours. For instance, Gold trading hours are from Sunday at 22:01 GMT to Friday at 20:55 GMT, while the US 500 trading hours are from Sunday at 22:01 GMT to Friday at 20:55 GMT.
In conclusion, the forex market is a global market that operates 24 hours a day, five days a week. TradersWay forex market closes in Eastern Standard Time (EST) at 5:00 PM on Friday, with slight variations during daylight saving time. Traders should be aware of the different time zones and adjust their trading times accordingly. It is essential to understand the specific trading hours for different instruments to maximize trading opportunities.
