|Ney York||Close||Opens in 13 hours and 53 minutes|
|London||Close||Opens in 9 hours and 53 minutes|
|Tokyo||Close||Opens in 1 hours and 53 minutes|
|Sydney||Open||Closes in 6 hours and 53 minutes|
Forex Market Hours
The foreign exchange market –also known as forex– is open 24hs a day. This enables traders to operate anytime from anywhere in the world. Whether day or night, a trader will always have the chance to operate in the forex market.
The reason is simple. In the first place, the forex market is a worldwide, decentralized market. Secondly, being a worldwide and decentralized market, operations are performed simultaneously with sessions of many stock exchange markets in the world. This is due to the fact that it is during stock exchange sessions when we will find traders hard at work. Consequently, and keeping in mind the various time zones of the world’s leading stock exchange markets, there will always be a stock exchange open, which will result in a total of 24hs of uninterrupted access to the foreign exchange market.
Thus, the 24hr time period is fully covered by the many stock exchange markets, where daily sessions of each market have a duration of 9 hours.
The foreign exchange opens on Sunday afternoon and closes on Friday afternoon, Saturday being the only day when the world’s markets are closed, with the foreign exchange market consequently being closed as well. The first one to open is the Sydney exchange, followed by the Tokyo exchange, then by London’s and lastly by New York’s. When closing on Friday, the first one to close is the Sydney exchange, followed by the Tokyo exchange, then by London’s and lastly by New York’s.
The time availability of the forex market provides traders a series of advantages and benefits. Firstly, traders get constant access to currency trading, with the benefit of being able to respond quickly to the possible changes of the market related with political and/or financial current events.
On the other hand, you could say a trader’s workday is not limited to working hours with set beginning and ending times for the day, since, as the market is open 24hs a day, the trader can perform operations whenever he desires, having the advantage of being able to manage the working hours of his workday himself, as well as the possibility of operating 2hs, 4hs, 8hs, or whichever amount of hours he desires or are necessary or required for his operations.
Along these lines, it also offers him the advantage of organizing his own work and rest schedule, deciding which days of the week he will dedicate to currency trading and which he will dedicate to leisure.