Forex (foreign exchange market) is a decentralized market that operates 24 hours a day, five days a week. This means that trading is available from Monday to Friday, with the exception of weekends. However, the timing of when Monday starts in forex can vary depending on the location and time zone of the trader.
Forex trading begins on Sunday at 5:00 pm EST (Eastern Standard Time) when the markets open in Sydney, Australia. This marks the start of the trading week, and the market remains open continuously until Friday at 5:00 pm EST when the New York market closes. This means that forex trading is available for 24 hours per day for five days a week.
It is important to note that the forex market is not centralized, meaning that there is no one exchange where all trades are executed. Instead, forex trading occurs through a network of banks, brokers, and other financial institutions. This means that the market operates on a global level, with traders from all over the world participating in the market.
The timing of when Monday starts in forex can vary depending on the time zone of the trader. For example, if a trader is based in New York, the market will open on Sunday at 5:00 pm EST, which is Monday at 10:00 pm GMT (Greenwich Mean Time). However, if the trader is based in Sydney, the market will open on Monday at 5:00 am EST, which is Monday at 8:00 pm GMT.
To avoid confusion, forex traders typically use GMT as a reference time for trading. This is because GMT is the standard time zone used by most financial institutions, and it provides a clear reference point for traders in different time zones. Using GMT as a reference time ensures that all traders are on the same page when it comes to market opening and closing times.
It is also worth noting that the forex market operates on a continuous basis, meaning that there are no set opening or closing times. Instead, trading occurs around the clock, with different financial centers taking the lead at different times. For example, the Asian session typically starts in Sydney and Tokyo, followed by the European session in London, and finally the North American session in New York.
In conclusion, forex trading begins on Sunday at 5:00 pm EST and continues until Friday at 5:00 pm EST. However, the timing of when Monday starts in forex can vary depending on the time zone of the trader. To avoid confusion, traders typically use GMT as a reference time for trading, as it provides a clear reference point for traders in different time zones. Overall, the 24-hour nature of the forex market allows traders from all over the world to participate, making it a truly global market.
