The forex market is the most accessible trading market for everyone around the world. Unlike the stock market, Forex offers mobile trading. You can also trade in the Forex market around the clock. This has to be one of the most attractive and top-selling features of Forex. Forex is a 24/5 market.
This article will answer your question, ” What time does the forex market open?”
What time does the forex market open? – Trading sessions
You are probably wondering how Forex managed to run their market as an around-the-clock trading option. Their strategy is very smart. Different trading sessions are running simultaneously.
- North American session
- European Session
- Australian Session
- Asian Session
At any given hour, a trader can enter into any Forex session regardless of their location.
How do trading sessions work?
A trading session is like a regular working hour time for the market for a specific region. However, what’s specific is that any trader from around the globe can use any trading session. So, let’s suppose you live in South Africa and the trading session in North America has just closed. You can enter the European trading session and use that instead. Yes, there are a few things that you need to consider about a trading session; we’ll mention them for you as well.
What’s interesting to note is how these different sessions interact.
North American session
Commonly known as the New York trading session opens on following hours;
- SAST 14h00 to 22h00 (South African time)
- GMT 12h00 to 20h00
- EST 08h00 to 16h00
- BST 13h00 to 21h00
So, according to the New York session, the Forex market opens at around 4 PM for South African traders. North American session is known for its stable USD rates. The amount of liquidity also increases in this session.
It is the second most active session in Forex. Almost 2 out of every five trades take place in New York open. Most traders who favor USD as their base trading currency would gravitate towards the North American session.
Asian session’s timings are;
- SAST 01h00 to 09h00 (South African time)
- GMT 23h00 to 08h00
- EST 19h00 to 04h00
- BST 24h00 to 09h00 (London time * account for daylight saving hours)
The Asian forex market opens at 1 AM in South Africa. It is a good time for people working on night shifts. It can also be useful for teenagers or young adults who stay up at night anyways.
The Tokyo session accounts for almost 20% of total Forex trades. The yen is the most functional currency in the Asian open. Yen accounts for 2 out of 5 forex trades. Singapore and Hong Kong are the most dominant economies in this session.
The timings for the European session are;
- SAST 09h00 to 08h00 (South African time)
- GMT 07h00 to 16h00
- EST 03h00 to 12h00
- BST 08h00 to 17h00
Commonly known as London open, this session is the most active Forex session. Almost 43% of trades happen in this session. Most prevailing brokers and Forex trading companies operate from the EU as well.
The simple answer to our readers’ question, ” What time does the forex market open?” is that it is always open. However, there are different trading sessions for the convenience of traders. You can pick a session that suits your trading needs.