Forex market hours: what time does the forex market open?

Forex market hours: an overview

The forex market operates 24 hours a day, five days a week. It’s open during weekdays, and closes at the weekend.

The forex market operates on a decentralised basis, influenced predominantly by trading activity in Sydney, Tokyo, London, and New York.

Forex trading hours are broadly grouped into three primary sessions: Asia-Pacific, European, and United States (US).

Trading volume can fluctuate during these sessions, however, it typically reaches its peak during the overlap between the London and New York sessions.

Learn more in our forex CFD trading guide

Forex trading hours

Forex operates 24 hours a day during the trading week, due to the overlapping hours of the world’s major financial centres. However, the opening and closing times of these sessions can shift due to changes in local summer time (daylight saving time).

Main forex sessions (in UTC)

Session	Winter hours	Summer hours
Sydney	9pm-6am	10pm-7am
Tokyo	11pm-8am	11pm-8am
London	8am-5pm	7am-4pm
New York	1pm-10pm	12pm-9pm

How these sessions overlap

In summer, the Asia-Pacific session kicks off with Sydney’s market opening at 10pm UTC and closing at 7am UTC the next day. Within the same session, Tokyo starts trading at 11pm UTC and wraps up at 8am UTC.

Following this, the European session begins, where London’s forex trading hours operate from 7am UTC to 4pm UTC.

Lastly, the US session takes over, with New York trading from 12pm UTC to 9pm UTC.

It’s worth noting that forex trading hours shift throughout the year. This is due to the varying dates on which different countries adopt daylight saving or summer time.

Although no single market is open for 24 hours, the overlap between these major sessions ensures the forex market remains open day and night – from Monday morning in Sydney, to Friday evening in New York.

What are the best times to trade forex?

The best time to trade forex will depend on your schedule, risk appetite and trading plan.

The overlapping periods where trading sessions overlap are known for heightened market liquidity and volatility. This makes them popular with many experienced traders, but volatility can also result in large, fast, unexpected losses.

Take, for example, the London and New York overlap. This is one of the most bustling forex trading periods, characterised by heightened trading activity due to the large volume of transactions. Forex pairs with the euro or the US dollar – like GBP/USD or EUR/USD – can experience increased trading volumes and higher volatility during this overlap.

Similarly, the Sydney-Tokyo overlap presents unique opportunities and risks for traders, especially for those trading forex pairs featuring the Japanese yen or the Australian dollar.

Past performance isn’t a reliable indicator of future results

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FAQs

When is the best day to trade forex?

Forex market trading activity commonly increases from Tuesday to Thursday. These mid-week days have historically experienced higher volumes and volatility due to frequent economic data releases. Fridays may also present trading opportunities, particularly in the morning, though market activity can decline in the afternoon, ahead of the weekend. However, past performance isn’t a reliable indicator of future results.

What are the best times to trade forex CFDs?

The best times to trade forex CFDs depend on your schedule, goals, and risk management approach. Some focus on periods when major trading sessions overlap. These times have historically correlated with heightened liquidity and price fluctuations.

Overlaps for Australian traders include:

Sydney-Tokyo overlap: 11pm-7am (UTC)

London-New York overlap: 12pm-4pm (UTC)

However, while these overlaps can see higher trading activity, they also involve increased market volatility. The most appropriate trading times depend on individual circumstances, risk appetite, and personal trading strategies.

What time does the forex open on Sunday in Australia?

For Aussie traders, the forex market opens with the Sydney session at:

Winter: Sunday 9pm (UTC), or Monday 10am (AEST)

Summer: Sunday 10pm (UTC), or Monday 9am (AEDT)

This marks the official start of the global trading week.

What time does the forex market close on Friday?

The forex market closes for the week at the end of the New York session:

Winter: Friday 10pm (UTC), or Saturday 8am (AEDT)

Summer: Friday 9pm (UTC), or Saturday 7am (AEST)

Keep in mind that market activity tends to slow considerably in the final hours before the weekend.

What time does the forex market open in Australia?

While the forex market operates 24 hours a day, five days a week, the Australian trading day begins with the Sydney session:

Winter: 9pm (UTC), or 8am (AEST)

Summer: 10pm UTC, or 9am (AEDT)

This session is the first to open globally each week.