Forex market hours refers to the hours during which the participants of the forex market are able to exchange, sell, buy and speculate on the currencies.
The FX market is open 24 hours a day except on weekends. But since this market operates in numerous different time zones, you can access it almost any time.
At large, forex market hours depend on when trading is open in every participating country. When one major FX market closes, another one will open.
For example, forex market hours move around the world as this – the trading is available in NY (New York) between 1pm-10pm GMT; then Sydney will come online at 10 pm GM; Tokyo will open at 00:00 am and then closes at 9 am GMT.
To complete the look, at 8:00 am, London opens and then closes at 5:00 pm GMT.
This allows brokers and traders worldwide, with the participation of the major banks from different continents, to trade 24 hours a day.
It's vital to know which the most active forex trading periods are considering the fact that the market is open 24 hours a day.
If you like to trade currency pairs such as GBP/USD, EUR/USD, or USD/CHF, more activity can be expected between 8 am to 12 am when both United States and Europe are active.
Other trading hours you need to be aware are the release times of official economic news as well as government reports.
It is worth finding out about economic indicators that are published in different countries since these correspond with the most active forex trading moments.
Remember that an increased activity indicates bigger opportunities when it comes to currency prices.
For day traders, watch out for the hours between London market’s opening and US market’s closing as these are the most productive hours.
The peak time is when London and US market overlaps between 1 pm GMT to 4 pm GMT.
What we have included here are just some of many things you need to learn about the forex market.