It isn't wrong, but it's a little confusing for readers who don't distinguish between GMT and EST -something few persons other than forex traders and airline personnel need to deal with on a regular basis. Also, keep in mind that forex is a worldwide market that is entirely virtual. Eight Hours a Day or 24? Many websites devoted to clarifying forex business hours describe the opening and closing times with three or four significant examples, usually. One source of confusion for new forex traders has to do with how the various websites choose to present the open and closing time data. The main Forex markets, in the order of their opening times, are: Sydney, Tokyo, Frankfurt, London and New York. If you live in New York you can see from the table (GMT-5) that daily trade starts at 5:00 PM (17:00 and ends at 5:00 PM (17:00) the day after. Karachi GMT4 02:00 AM (02:00) Monday 02:00 AM Saturday 02:00 AM GMT3 01:00 AM (01:00) Monday 01:00 AM Saturday 01:00 AM GMT2 00:00 AM (00:00) Sunday 00:00 AM Friday 00:00 AM Cairo GMT1 11:00 PM (23:00) Sunday 11:00. Since the agreed-upon reference time worldwide is actually GMT, which has no Greenwich Mean Daylight Savings Time, this means that a New York trader who chooses to reference Eastern time rather than GMT, must keep in mind that. Another possible source of confusion is that GMT is always just that, summer, winter and fall. Tokyo, where the forex opens at 00 am GMT (midnight, in other words) and closes eight hours later at 9 am GMT. For example, if you live in London (GMT the Forex day ends and restarts at 10:00 PM (22:00).
Forex Hours - Forex Online on Internet
New York while GMT is an abbreviation for Greenwich Mean Time (e.g. But other websites on the subject of forex trading hours note that the forex is open "24 hours a day." It is also true - or at forex opening sunday least "true-ish.". You can trade anytime you want, although you should also note that you'll get the narrowest spreads - the broker's profit margin - when the maximum number of trading centers are open or, more precisely, when the trading volume for your currency trade is greatest. Also, as noted, you'll get the best trading spreads when the volume is peaking - that is when the greatest number of major trading markets are open. Historical Daily Data, select more forex. Week ends, gMT12 10:00 AM (10:00 monday 10:00 AM, saturday 10:00. Wellington 10:00 pm 6:00 am, trading sessions according to EST (Eastern Standard Time Region, city, open (EST close (EST). So, yes, at any given trading center, it's an eight hour day. Sydney, where the forex opens at 10 pm GMT and closes eight hours later, at 6 am GMT. New York, where the forex opens at 1 pm GMT and closes eight hours later, at 10 pm GMT. Time Zone, opening / Closing time week starts.
Auckland, gMT11 09:00 AM (09:00 monday 09:00 AM, saturday 09:00. The explanation isn't complicated, but at first, it may seem a little strange and requires a two-part explanation. If you open a position at 9:30 PM (21:30 and close it at 10:30 AM (22:30 your trade goes from one to another Forex day and rollover/swap are applied. Note: EST is an abbreviation for Eastern Standard Time (e.g. Some websites may declare without further explanation that the forex is always "open 24 hours a day" and others, probably the majority, note that the forex market is open "five days a week." Again, both statements are true enough if you put them in context. Tokyo, gMT8 06:00 AM (06:00 monday 06:00 AM, saturday 06:00. It is the happy consequence of the way the day of the week shifts forward or back as you cross the international dateline. Eastern time, however, comes in two flavors: Eastern Standard Time (EST) and Eastern Daylight Time.
Forex Market Hours - Forex Market Time Converter
Still another source of confusion has to do with how many days a week the forex is open. Hong Kong, gMT7 05:00 AM (05:00 monday 05:00 AM, saturday 05:00. Forex market opens on Sunday 5 pm EST (10:00 pm GMT closes on Friday 5 pm EST (10:00 pm GMT). The following table illustrates the opening and closing local times for a Forex day and week, in function of time zones. There's no trading pit anywhere. The weekly opening is at Sunday, while the weekly closing is Friday. Forex market welcomes traders 24 hours a day. The first section of this article notes that at each location the forex is open for eight hours. In this article, for instance, the data is referenced to GMT. . Trading sessions according to GMT (Greenwich Mean Time Region, city, forex opening sunday open (GMT close (GMT europe. London 8:00 am 5:00 pm, frankfurt 7:00 am 4:00 pm, america, new York 1:00 pm 10:00 pm, chicago 2:00 pm 11:00. Familiarize yourself with your local opening and closing times, because this will impact when you must close your day trades.
GMT10 08:00 AM (08:00 monday 08:00 AM, saturday 08:00. The base reference time for all opening and closing times worldwide is Greenwich Mean Time, commonly abbreviated GMT. Bangkok, gMT6 04:00 AM (04:00 monday 04:00 AM, saturday 04:00. Forex, trading, forex, fAQs, chris Cheadle / Getty Images, the simplest answer is that the forex is open for trading all the time, but that the specific hours it opens and closes at any given location depending upon where you are in the world. . In all cases, to make a meaningful description of trading hours worldwide, the opening and closing times at each location worldwide need to be presented with a common base reference time. The Forex market is the only 24-hour market, opening Sunday 5 PM EST, and running continuously until forex opening sunday Friday 5 PM EST.
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