Forex Market Hours.
Forex stands for "Foreign Currency Exchange." Forex is the process of converting one currency into another. Forex trading occurs for a variety of reasons including commerce, price speculation, trading, and tourism. Trillions of dollars are traded daily on Forex markets.
Forex markets are open 24/5 from Sunday at 5:00 PM New York Time (10:00 PM London Time) to Friday at 5:00 PM New York Time (10:00 PM London Time).
Note: Daylight Saving Time shifts in the US and UK are not aligned. Their is a 2 week period in March and a 1 week period at the end of October when Forex markets open Sunday at 9:00 PM London Time.
When is the Best Time to Trade Forex?
Conventional advice says . (When speads are smallest)
But really, the best time depends on your trading style. There are 3 things.
News traders care about when the news comes out.
When is the Worst Time to Trade Forex?
Can you trade Forex on weekends?
The big boys can. And some brokers allow you to trade weekends. However spreads will be very big.
How do Holidays affect Forex Trading?
Most currencies settle in T+2. Some pairs such as USD/CAD, USD/TRY, USD/PHP, and USD/RUB are T+1.
In order for a date to be a settlement date then the central bank for both currencies must be open.
I THINK YOU CAN trade on a settlement date. It just doesn't settle if the settlement date is a settlement holiday.
So trading hours are unaffected. But there is still probably less volume on a major holiday or regular stock market holiday.
If there is an intervening holiday on the day after trading and before settlement, then settlement might be pushed one day. It depends on the currencies involved.
Also, it is important to know that most currencies will not settle if there is a USD settlement holiday. This is regardless of whether or not USD is one of the currencies pairs. This is because some currency pairs, such as EUR/JPX use USD to settle. In this case, the trade will not settle until the next valid business day for all three currencies.
How to get started trading Forex?
In order to trade Forex, you need to find a broker. There are hundreds of reputable online Forex brokers to choose from.
Have a suggestion?
email.