The forex market is the largest and most liquid market in the world, with a daily turnover of around $5 trillion. It operates 24 hours a day, five days a week, from Monday to Friday. However, the market has specific opening and closing times depending on the region and time zone.
The forex market is divided into three main trading sessions – Asian, European, and American. These sessions overlap each other, providing traders with the opportunity to trade around the clock. The market opens on Sunday at 5 pm EST (10 pm GMT) with the Asian session, followed by the European session at 2 am EST (7 am GMT), and finally, the American session at 8 am EST (1 pm GMT).
When it comes to the closing time of the forex market on Friday, it varies depending on the region and time zone. In general, the market closes on Friday at 5 pm EST (10 pm GMT), marking the end of the American session. However, this closing time may vary due to the daylight savings time (DST) changes and holidays.
DST is a practice of advancing clocks by one hour during the summer months to extend daylight hours in the evening. The DST changes may affect the forex market closing time, particularly in regions that observe DST. For example, the United States observes DST from March to November, while Europe observes it from the last Sunday in March to the last Sunday in October.
During the DST changes, the closing time of the forex market may shift by one hour. For instance, when DST starts in the United States in March, the market closes at 6 pm EST (11 pm GMT), while when it ends in November, the market closes at 4 pm EST (9 pm GMT).
Moreover, the forex market may close earlier or remain closed altogether during holidays. Holidays may vary depending on the country and region, but some of the major forex market holidays include Christmas, New Year’s Day, Easter, and Independence Day.
It is essential for traders to be aware of the forex market closing time and any changes that may affect it. This will help them plan their trading strategies and avoid any potential risks associated with unexpected market closures or price fluctuations.
In conclusion, the forex market operates 24 hours a day, five days a week, from Monday to Friday. The market closes on Friday at 5 pm EST (10 pm GMT), marking the end of the American session. However, the closing time may vary due to DST changes and holidays. Traders should stay updated on any changes that may affect the market closing time to avoid any trading risks.
