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Forex Trading Market Hours
The forex market is open 24 hours a day, five days a week. An advantage of forex trading is that markets operate in multiple time zones and can be accessed at almost any time. The foreign exchange market is not dominated by a single exchange but is comprised of a global network of exchanges, brokers, and online trading platforms. From Sunday to Friday, there will be at least one financial centre will be open for trading.
Forex market hours for exchanges around the world are as follows:
Sydney 8:00am to 5:00pm AEST
Tokyo 10:00am to 7:00pm AEST
London 6:00pm to 3:00am AEST
New York 11:00pm to 8:00am AEST
The first hour that a major market is open for trading is crucial. It is important for traders to know the opening times of major markets around the globe.
The worldwide distribution of forex trading hours provides opportunities for traders at any time of day. However, along with opening hours, different times of day bring along with them various levels of currency volatility. For this reason, knowing the right time to trade is crucial in order to become a successful currency trader.
Typically, currency pairs see their highest volatility during the times in which their local markets overlap. For example, between 11:00pm AEST and 3:00am AEST is the ideal time to trade British Pounds and the USD (GBP/USD) or the Euro and the USD (EUR/USD). Also, between 10:00am AEST and 5:00pm AEST is generally the best time to trade the Australian Dollar and the Japanese Yen (AUD/JPY).