The forex trading market is the most active during the first few hours of the trading day. This is because pre-placed orders are entering the market, and volume is high. The activity also drives down the spreads, resulting in an excellent trading environment. Forex brokers are also in a good position to send their customers trading signals when the market opens.
However, there are some differences between the trading sessions, and it is vital to know what to expect. Traders should always refer to the table below to know when they can make trades and when they should close their positions. This is important because overnight interest may be accrued if you don’t close your positions.
The Forex market operates five days a week. Different parts of the world have their own trading hours, but most open at the same time each day. New Zealand and Australasia have different opening hours. In Europe, the market opens on Monday and closes on Friday, and the United States opens on Tuesday.
Forex trading market hours are dependent on several factors, including time zone. In New York, the market is open from 5 p.m. local time, and closes at 5 p.m. local time on Friday. It will then reopen the following Sunday at 5 p.m. EST. Forex trading is also done by phone between participants from various countries. Therefore, it is crucial to know the hours when you can trade during the various market sessions.
The forex market is a global marketplace. It is open to both large and small investors and is highly leveraged. The market can be very volatile, and there is always a risk involved. But if you follow these rules and make sure to know what you’re doing before jumping into the forex market, you should be able to profit on your own time.