Forex market hours: What time does the forex market open for UK traders?
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.
Generally, forex trading hours can be divided into three primary sessions: the Asia-Pacific, European, and US sessions. While trading volume fluctuates across these sessions, it typically reaches its peak during the overlap between the London and New York sessions. During trading hours, it helps to explore our useful forex trading tips guide.
Forex trading hours (UK time)
Winter:
- London session: From 8am to 5pm
- New York session: From 1pm to 10pm
- Sydney session: From 9pm to 6am
- Tokyo session: From 11pm to 8am
Summer:
- London session: From 7am to 4pm
- New York session: From 1pm to 10pm
- Sydney session: From 11pm to 8am
- Tokyo session: From 12am to 9am
In summer, the Asia-Pacific session kicks off with Sydney’s market opening at 11pm UK time and closing at 8am the next day. Within the same session, Tokyo starts trading at 12am UK time and wraps up at 9am.
Following this, the European session begins, where London’s forex trading hours operate from 7am local time to 4pm. Lastly, the US session takes over, with New York trading from 1pm UK time to 10pm.
It’s worth noting that forex trading hours shift throughout the year due to the varying dates on which daylight saving or summer time is adopted by different countries.
And remember, although no individual forex trading session lasts 24 hours, the global forex market achieves continuous operation throughout the day and night (during the week) thanks to these overlapping international sessions.
The best times to trade forex
The best times to trade forex tend to be during the hours when trading sessions overlap.
These overlapping periods are known for heightened market liquidity and volatility, making them highly favourable for traders seeking to potentially capitalise on significant currency movements.
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 for traders, especially for those trading forex pairs featuring the Japanese yen or the Australian dollar.
How to trade forex with Capital.com
You can trade forex with us by following these steps:
- Choose a currency pair to trade, based on your trading goals
- Choose how you want to trade
- Decide on your trade size
- Consider applying a stop-loss to manage risk
- Open your position long or short
- Manage your position, monitoring fundamental and/or technical drivers
- Close your position
FAQs
When is the best day to trade forex?
Generally, the best days to trade forex are Tuesday through Thursday. This is when the forex market experiences the highest volume and volatility, due to the bulk of economic data releases occurring then. Fridays can also be opportune, particularly in the morning, though trading activity tends to taper off in the afternoon as the weekend approaches.
What are the best times to trade forex?
Generally, the optimal forex trading periods occur when the trading sessions, say, the Sydney and Tokyo sessions, overlap. These overlapping times can offer the highest levels of liquidity and market movement.
What time does the forex market open on Sunday in the UK?
For UK traders, the forex market opens with the Sydney session on Sunday at 11pm during the summer and at 9pm during the winter, marking the start of the trading week.
What time does the forex market close on Friday?
For UK traders, the forex market closes with the New York session on Friday at 9pm during the summer, and at 10pm during the winter, concluding the trading week.
What time does the forex market open in the UK?
The forex market operates 24 hours a day, five days a week, but for UK traders, it effectively opens with the London session at 8am UK time in the winter and 7am UK time in the summer.
