Forex trading hours are continous from 22:05 GMT Sunday to 22:00 GMT Friday as the forex market travels from Sydney to Hong Kong and from Hong Kong to Europe and from their it closes a trading day in the US. This is more or less irrelevant to the retail trader as what is important is that through online forex he is enabled to access the online markets 24 hours a day with no limitations and with opportunities for spontaneous reactions to breaking news that can hit the headlines at any time of the day around the clock.
Due to the 24 hour nature of the foreign exchange will allow the online trader to engage in selling and trading at any time of the day therefore allowing him to capitalize on information, news or political changes regardless if business hours in his jurisdiction are in sleeping hours making forex trading hours a term that more or less cannot be touched upon. The average trading volume of the forex market in a whole is estimated to exceed the figure of 4 trillion dollars which is several times larger than all the US stock markets combined and with the basic and primary difference that the large majority of this figure being speculative due to the high liquidity which is available in the foreign exchange.
The 24 hours customer support desk is also available so feel free to send an email, talk to live chat or request a call back for further help in regards to any questions or queries you might have. During the hours that the dealing desk is closed the trading platform cannot execute trades and its features are available only for viewing which can be used for familiarization with features or offerings of the trading platform itself.
Asian Trading Session
The Asian Trading session is the first major money center to open and therefore the start of the first major session in the forex market. This is in line with the start of business hours in Tokyo which is 7pm Eastern Time on Sunday. Only approximately 7.6% of forex transactions go through Tokyo trading desks, so it is clear that the Asian trading session is the least active of the three major sessions. The most actively traded currency pairs during this session are Yen based ones with relatively little other trading on the other currency pairs, and it is for this reason that many hedge funds and large banks will use this session to try to push the market in their favor.
European Trading Session
The next trading session to begin is the European trading session which begins with the start of London business hours at 2 AM Eastern Standard Time. It should be noted that while New York is considered by many to be the largest financial center in the world, London is still the main player of the FOREX market with over 32% of all forex transactions carried out there. Prior to the introduction of the Euro there were more than a dozen other currencies in Europe making foreign exchange practically a necessity for both businesses and individuals operating in the region. Further to this, London’s time zone is very well placed in terms of business hours for both eastern and western economies. The high activity during the London session means that it is also the most volatile for all of the currency pairs.
US Trading Session
Finally, there is the US session which begins with the start of New York business hours at 8 AM Eastern Standard Time. In terms of forex trading volumes, New York is a distant second to London with roughly 19% of all FOREX transactions flowing through New York Dealing Rooms. The most active time for the forex market is approximately from 8am to 12pm when both London and New York trading desks are open. This is when there is generally the highest volatility in the market as it is also when the majority of the major US economic announcements are released. The trading day winds down after 12pm New York time with the majority of electronic trading platforms closing for business at around 4 PM Eastern Standard Time on Friday.
During forex trading hours customers can place orders through out the day and additionally use the features incorporated in our platform to support limit, stop and trailing stop orders. You have the benefit of trading via telephone by speaking directly to one of the dedicated dealers available around the clock to assist you, help you or execute orders you cannot due to internet connectivity problems or mobility issues.
Please note that once a trader opens a position it will remain open until the time a matching close trade is executed; positions that are open are valued at market price and update your trading account in real time numbers.
Forex Trading Hours and Phone Trading
If you may be away from your computer or you might be experiencing mobility issues you may select to reach the dealing desk by phone and further more discuss your
requested orders. Make sure to have your account login info available in order for the dealing desk to be able to accommodate your orders.
If you wish to close a position, set a take profit or stop loss order on an existing position you will additionally be requested to provide the ticket number. In case of unsuccessful password authorisation or if you refuse to go through this process, your instructions will not be accepted. Once all security checks are successful you can ask for a two-way quote for a particular pair of currencies but you will have to specify the size of the transaction. For example: “I would like a Dollar Japanese Yen quote for 10 lots please”.
What are the most active Forex trading Hours?
Although both the markets and trading-point.com are open 24 hours a day during the trading week, there are forex trading hours which have a greater volume of trade, thereby increasing the opportunities to make a profit. For traders who wish to engage in day trading, the most productive hours are between the opening of the London markets at 08:00 GMT and the closing of the US markets at 22:00 GMT. The peak time for trading is when the London and US markets overlap from 13:00 GMT until 16:00 GMT. The main sessions of the day are the London, US and Asian markets. Some currencies are more active during particular trading sessions than others and understanding this will allow traders to make the most of the market.
- The London session is open from 08:00 GMT until 16:00 GMT and the most active currencies are the EUR, GBP and USD.
- The US session is open from 13:00 GMT until 22:00 GMT and is an active market for the USD, EUR, GBP, AUD and JPY.
- The Asian session is a relatively slow market for all currency pairs and not generally suitable for day trading.