The foreign exchange market, or forex market, is a global market where currencies are exchanged. The forex market is open 24 hours a day, five days a week, but this does not mean that all exchanges are open at the same time. Each country has its own forex market hours, including Malaysia, which has its own unique trading hours.
The forex market in Malaysia is regulated by the Securities Commission Malaysia and the central bank, Bank Negara Malaysia. The market operates on a decentralized basis, which means that transactions are conducted electronically, and there is no physical exchange.
The forex market in Malaysia opens at 5 p.m. Eastern Standard Time (EST) on Sunday and closes at 5 p.m. EST on Friday. This means that the market is open for 24 hours a day from Sunday evening until Friday evening. However, it is important to note that trading activity varies depending on the time of day.
During the weekdays, the forex market in Malaysia is active from 9 a.m. to 5 p.m. local time. This is when the majority of traders are active, and the trading volume is highest. The peak hours of trading are during the overlap of two major sessions, such as the European and Asian sessions or the North American and European sessions.
The European session typically starts at 2 a.m. EST and ends at 11 a.m. EST. During this session, the most active trading centers are London and Frankfurt. The Asian session starts at 7 p.m. EST and ends at 4 a.m. EST. The most active trading centers during this session are Tokyo, Singapore, and Hong Kong.
The North American session starts at 8 a.m. EST and ends at 5 p.m. EST. During this session, the most active trading centers are New York and Toronto. The overlap between the European and North American sessions, which occurs from 8 a.m. EST to 11 a.m. EST, is considered to be the most active trading time.
It is important to note that the forex market in Malaysia is closed on weekends and public holidays. Public holidays in Malaysia are determined by the government and can vary from year to year. Traders should be aware of these holidays and adjust their trading strategies accordingly.
In conclusion, the forex market in Malaysia is open 24 hours a day, five days a week, but trading activity varies depending on the time of day. The most active trading hours are during the overlap of two major sessions, and traders should be aware of public holidays and adjust their trading strategies accordingly. It is also important to note that trading in the forex market carries a high level of risk and should only be done by experienced traders who can afford to lose their investment.
