If you want to know more about forex market hours so this article is only for you to achieve that, don’t do anything just read it carefully.
Forex market hours
The simplest solution is that the forex market hours are always available for trading.
But it opens and closes the specific hours at any particular location depending on the position in which you are.
Greenwich Mean Times, usually abbreviated GMT, is the standard time for all opening and closing times around the world.
Many websites that clarify the time of the forex business use three or four significant examples to describe the opening and closing times.
New York, where the forex starts at 1 pm GMT and finishes 8 hours later.
- New York, which opens at 13:00 GMT and closes at 10:00 GMT eight hours later.
- Sydney, the forex opening at 10:00 GMT and closing at 6:00 GMT eight hours later.
- Tokyo, where the forex begins at 00 a.m. GMT and closes at 9 a.m. GMT eight hours later.
- The forex opens in London at 8 am GMT, closing at 5 pm GMT eight hours later.
Here is where things start complicating themselves
The manner in which different websites present the opening and closing time data is one source of confusion for new forex traders,
And you should here know well how to become a Forex trader.
To describe worldwide in all cases the trading hours meaningfully,
A common baseline reference time shall be presented at the opening and closing times at each location worldwide.
For example, this article refers to GMT data.
The popular base reference time commonly used in other papers with an American focus is Eastern Standard Time.
It is not wrong, but for readers who do not distinguish GMT from EST, it is a little confusing, there are only a few people who need to deal with something on a regular basis other than forex and airline staff.
Another potential source of confusion is that, in summer, winter and fall, GMT still is just that.
Nevertheless, the Eastern season is in two ways: Normal Eastern Time (EST) and Eastern Daylight Time.
GMT is basically the accepted reference time globally,
No Greenwich Mean Savings Time for Daylight, it means that New York traders who choose Eastern time instead of GMT will note that they saved New York Daylight time,
The GMT reference time is changing by an hour since it does not change, of course.
Eight or 24 hours a day?
In the first section of this article, the forex is open for eight hours at each venue. It is right.
Nevertheless, other websites concerned with Forex trading times point out that the Forex is open “24 hours a day.”
This is not a complex description, but first, it may look a bit odd, and a two-part clarification is required.
First of all, note when the New York forex market is closed at midnight in New York, it’s also somewhere in the centre of the day – in Tokyo, for example.
Please also note that Forex is an entirely digital worldwide market.
There isn’t anywhere in any trading pit.
On your laptop in New York when you enter a midnight forex trade, commercial activity is carried out in Tokyo or in a number of trade centres around the globe open when you begin the trade.
Sure, it’s an eight-hour day at every particular trade centre.
But that doesn’t really matter, because trading centres are open somewhere in the world.
You can exchange whenever you want but you also have to remember that the narrowest distributions are available, the profit margin for the broker.
when the total number of commercial centres is available or, in particular, when the currency exchange is highest in trading volume.