For Your Information...

The currency market commences from Monday morning in Mumbai, India to Friday afternoon in New York. Somewhere around the planet at all hours of the day or night, you deal in foreign exchange.

It does terminate on weekends so it’s not a real 24/7 market. 24/5 would be more accurate.

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If you want to know the precise times that the markets open and close, you have to take time zones into consideration. A plain method to do this would be to use UTC units.

It was earlier known as GMT which is Greenwich Mean Time and is at present UTC expanding to Universal Coordinated Time. It is the actual winter time at zero longitude on the globe and the actual location is Greenwich, London.

So, the typical currency market hours are 22.00 Sunday UTC to 22.00 Friday UTC. This accords to10pm winter time in the UK.

New York is 5 hours behind the UK so the international currency market commences and closes at 5 pm Sunday/Friday in New York, 2 pm on the US west coast, 11 pm in Germany, 8 am Monday/Saturday in Sydney.

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In a nutshell, the major national forex markets have the these hours:

Sydney: 10 pm to 7 am UTC Tokyo: 12 midnight to 9 am UTC London: 8 am to 5 pm UTC New York: 1 pm to 10 pm UTC

On the other hand, in Eastern US time or EST:

Sydney: 5 pm to 2 am EST Tokyo: 7 pm to 4 am EST London: 3 am to 12 noon EST New York: 8 am to 5 pm EST

You can behold that these accord to 24 hour cover.

However, this does not compulsorily mean that trading will be good at all of these occasions. Just after an important market opens, the prices can be very volatile and changeable.

This is why knowledgeable traders will discontinue their trading for a period of as much as an hour 4 times a day when the major trade destinations commence their market day.

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In theory then, trading can be accomplished from Sunday night until Friday night, 24 hours daily. Automated software in the shape of a forex robot can even make this physically conceivable.

But the prudent trader goes for optimal times and is accordingly not trading during the consolidated operating hours of the foreign exchange market.

Note: FX trading is not risk free, can end up in substantial losses, and is not appropriate for every person.

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