It’s a well-known fact that the Forex market works around the clock. But along with this, for sure many have heard about trading sessions in the foreign exchange market. Hence the question arises: trading time means that the market opens and closes in a certain period, and how does it happen that Forex is working round the clock?
The exchange of currencies is connected with the work of banks that conduct operations in the foreign exchange market, therefore, 4 trade sessions in the world’s largest cities have been organized – there is the largest number of banks, which means higher potential. Because of the change in time zones, trading sessions like-bi are superimposed on each other, so traders anywhere in the world can always connect to work.
Each trader works according to his own scheme, analyzes the movement in a certain time interval, trades a special financial instrument. But with this, you need the exact and correct time for trading, during which there is a high probability of getting more profit.
- Forex trading hours
- Below is the opening and closing time for each session
- Summer time | April – October
- Winter time | October – April
Forex trading hours
As already mentioned, the forex market can be divided into four main trading sessions: the Sydney, Tokyo, London session and the session in New York. We would like to draw your attention to the fact that during the work of various sessions, not only residents of these areas can join the work of the foreign exchange market, because the forex is an electronic market. The fact is that during the work, for example, the Tokyo session, deals are conducted by Japanese banks, and they can serve customers around the world.
Below is the opening and closing time for each session
Summer time | April – October
- The Sydney session opens at 6:00 PM and is closed at 3:00 AM Eastern time. If you orient to the time of Greenwich, then the opening takes place at 10:00 PM, closing – at 7:00 AM.
- The Tokyo market comes to life at 07:00 PM EET, and ends at 4:00 AM. According to Greenwich time, its operating activities fall between 11:00 PM and 8:00 AM.
- The London session “accepts transactions” from 3:00 AM and finishes work at midnight, if tentatively for the eastern time, or – from 7:00 AM m to 4:00 PM GMT.
- New York is ready for new deals from 8:00 AM to 5:00 PM for eastern residents; Those who live in Greenwich time can count on the work of the New York market from midnight until 09:00 PM.
Winter time | October – April
In connection with the transition to winter time, traders should take into account that the Forex working time is also shifting slightly, and from October to April the trading floors operate in the following mode:
- The Sydney market is open from 4:00 PM to 1:00 AM EET, this will be the period from 9:00 PM to 6:00 AM GMT.
- The Tokyo currency market opens at 18:00 and ends at 3:00 AM EET. According to Greenwich time this is 11:00 PM – 8:00 AM.
- London is ready to execute traders’ orders from 3:00 AM to midnight. GMT is the time from 8:00 AM to 5:00 PM.
- The New York trading floor is open from 8:00 AM to 5:00 PM, or from 1:00 to 10:00 PM GTM.
Due to the fact that trade activity is concentrated in different parts of the globe, there are periods when two sessions are open simultaneously. For example, in the summer, early in the morning, from 3:00 to 4:00 in the morning, the EET session in Tokyo and London overlap, and from 8:00 to 12:00 in the morning EET at any time of the year traders can connect to both London and New York sessions.
Moments of parallel work, which is most loaded during the trading day, because then the volumes of trade increase, the market reacts more actively to the number of participants, banks have to work much faster, and traders get an opportunity to earn more. There is a rumor among forex traders that morning is the ideal time for making big money, and now we have told you where this opinion came from.