The forex market is the largest and most liquid financial market in the world, where currencies are traded 24 hours a day, 5 days a week. The forex market operates on a global scale, with participants located in different time zones. As a result, the market is open at all times, except for weekends and certain holidays.
When Does Forex Market Open?
The forex market opens on Sunday at 5 pm EST (10 pm GMT) when the Sydney market opens. The market then moves to Tokyo, Singapore, and Hong Kong before reaching Europe. The London market opens at 3 am EST (8 am GMT), and New York opens at 8 am EST (1 pm GMT). The forex market operates in a continuous session of 24 hours, with each market overlapping with the next.
The forex market operates in four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. Each session has its unique characteristics and trading hours.
Sydney Session
The Sydney session is the first session to open, and it operates from 5 pm EST (10 pm GMT) to 2 am EST (7 am GMT). The Sydney session is known for its low liquidity, with the AUD, NZD, and JPY being the most actively traded currencies during this time.
Tokyo Session
The Tokyo session is the second session to open, and it operates from 7 pm EST (12 am GMT) to 4 am EST (9 am GMT). The Tokyo session is known for its high liquidity, with the JPY being the most actively traded currency during this time.
London Session
The London session is the third session to open, and it operates from 3 am EST (8 am GMT) to 12 pm EST (5 pm GMT). The London session is the most active session of the forex market, with the EUR, GBP, and CHF being the most actively traded currencies during this time.
New York Session
The New York session is the final session to open, and it operates from 8 am EST (1 pm GMT) to 5 pm EST (10 pm GMT). The New York session is known for its high liquidity, with the USD being the most actively traded currency during this time.
When Does Forex Market Close?
The forex market closes on Friday at 5 pm EST (10 pm GMT) when the New York market closes. The market then reopens on Sunday at 5 pm EST (10 pm GMT) when the Sydney market opens. The forex market is closed on weekends and certain holidays, such as Christmas and New Year’s Day.
It is important to note that even though the forex market is closed on weekends, it is still possible to access trading platforms and place trades. However, the liquidity in the market is significantly lower, and the spreads may be wider than usual.
Conclusion
The forex market is a global market that operates 24 hours a day, 5 days a week. The market opens on Sunday at 5 pm EST (10 pm GMT) and closes on Friday at 5 pm EST (10 pm GMT). The forex market operates in four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. Each session has its unique characteristics and trading hours. It is important to understand the opening and closing times of the forex market to plan your trading strategy effectively.
