Currency Market Working Hours
If you want to become a successful forex trader, then one of the most important things that you should learn is choosing the right time for trading. Though forex trading has the potential to help you generate amazing money but you will also have to give enough time in learning the basic and advanced things properly. So if you are new to forex trading and want to learn the currency market, then give this article your undivided attention. In the article, all of you will get to learn more about the working hours of the currency market. So is this sounds compelling, then stick to this article.
What Are Forex Market Hours?
In simple words, currency hours is like a time table by which people in the forex market can trade and speculate on currencies across the globe. The forex market is open 24/7 on weekdays but closed on Saturday and Sundays. The compression also occurs on weekends because of the change in time-zones. In Sydney, Australia local time, the forex market starts at 8 am, Monday morning (which equates to New York Sunday 7 pm) and it shuts off in the New York at 5 pm local time (which equates to Saturday 6 am in Australia).
These are the working hours in which any person can enter the trading in the forex market. Currency market hours can be confusing and you should research them properly. If you are curious to learn more about the market hours more specifically, then you can learn more here- (https://www.forex-life.com/market_working_hours/market_working_hours.html)
- You can trade in the forex market only in weekdays (Monday-Friday)
- The FM (forex market) functions on four local sessions (Tokyo, London, and Sydney, New York)
- The volume of trading doesn’t remain same in all sessions
- When the New York and London session overlap, the highest trading volume takes place
Forex Market Hours
Commercial banks, hedge funds, central banks, and some other institutions make International currency markets. Except for Saturdays and Sundays, the forex market can be acquired anytime as it functions in different time zones. A single market cannot dominate the ICN (international currency market) but it includes worldwide brokers and exchange networks. Here is each region’s general time zone:
New York- (1pm to 10pm UTC), 8am to 5pm EST
Tokyo- (12 am to 9 am UTC), 7 pm to 4 am EST
Sydney- (10pm to 7am UTC), 5pm to 2am EST
London- (8 pm to 5 pm UTC), 3 am to 12 afternoon EST
So this was important information regarding the currency market working hours that every person who wants to come in the forex trading should know. If you are a beginner in forex, then one thing you have to keep in mind is that forex trading is not a get-rich quick scheme. You will have to invest both of your time and money. However, once you will start understanding the methods and strategies, then it would become easy for you to earn good money. Hope this article will clear some of your doubts and give you some helpful information.
Written By : YOUSSEF J A ALMEER
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