It’s important to understand the currency trading times if you’re going to start trading currency on the currency market as a pastime or a method of making some extra money. When you trade currency, you are not restricted to business hours as you would be with the stock exchange. Forex is a global market so it crosses many different time zones. But is it actually open for trading 24/7?
The answer to that is no. The currency market is open twenty-four hours a day, but only 5 days every week. You may also find it closed in most states (and terribly quiet in others) on days that are vacations in almost all of the major economic powers, such as Xmas.
In reality in several parts of the planet, currency trading times begin on Sun. evening or perhaps earlier. This is because the first markets to open are in Australia and New Zealand, which are before most other bits of the globe.
Nonetheless the market is going to be pretty quite at that point, at least until the clock gets around to 8 am in London and the UK and EU trading floors open up for business. This indicates that the best foreign exchange trading times for beginners are when the London and Manhattan markets are open, and particularly during the overlap of those times. These are the two busiest trading floors. The overlap takes place when it’s morning in NY and afternoon in the UK, and that’s when you’ll see the highest volume of trading in just about all currency pairs. At the other end of the week the situation repeats, with the Sydney market closing first, when it’s still Thursday in many other time zones. The last of the enormous markets to shut is Manhattan at 4 pm EST on Fri. So currency trading times run 24 hours per day from five pm sunday to four pm Fri EST..
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