When the market is open, traders all around the world can execute trades in the forex market, although trading conditions may vary. Forex market hours are the schedule by which forex market participants can buy, sell, exchange, and speculate on currencies all around the world. The forex market is open 24 hours a day during weekdays but closes on weekends. However, the best time for you to trade forex will depend on which currency pair you\u2019re looking at. As a rule, the most liquidity for each FX pair will occur when the sessions for the pair overlap \u2013 if both locations are open at the same time. For example, GBP\/USD will experience a higher trading volume when both London and New York sessions are open. Every day of forex trading starts with the opening of the Australasia area, followed by Europe, and then North America.<\/p>\n

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Economic Calendar is one of the important things that forex traders need, so in FXhours we introduce a nice interface with more features like filters and event alerts to facilitate the dealing with the economic news. And this is why you should focus your energy during specific trading sessions. In terms of the actual trading strategy, trading during the London market opening hour is no different than trading any other time of the day. However, given the significant increase in trading volume at this time, it makes breakout trading much more lucrative. Coincidentally, some of the major forex exchange hubs also host the major stock exchanges. For example, the NASDAQ and the New York Stock Exchange are located in, you guessed it right, in New York; The London Stock Exchange is located in London, and the Tokyo Shoken Torihikijo is based in Tokyo. To buy something you need someone else to sell you want you are trying to buy and vice versa.<\/p>\n

Deposit Bonus — Receive a 100% Bonus on Deposits (Max Bonus $5, . Bonus credited after required lots are traded. — Traders Way<\/h3>\n

For instance, when you hear that the U.S. dollar closed at a certain rate, it simply means that was the rate at market close in New York. That is because currency continues to be traded around the world long after New York’s close, unlike securities. Hence, knowing which time of the day the Forex market remains most active is an integral part of becoming a successful trader.<\/p>\n

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It\u2019s also important to be aware that high trading activity also leads to high volatility. While some traders like the opportunities that volatility can bring, others do not \u2013 either way, it\u2019s vital to have a risk management strategy in place. However, the vast majority of forex trades aren\u2019t for practical purposes. Speculative FX traders seek to profit from fluctuations in the exchange rates between currencies, speculating on whether one will go up or down in value compared to another.<\/p>\n

The number of transactions you want to make will help you choose which broker will offer you the most value for your money based on typical spreads and fees. Consider IC Markets if you\u2019re an Australian trader looking for low EUR\/USD broker spreads. At IC Markets, the usual EUR\/USD spread is 0.1 pip, with a negligible commission charge of $3.50 per side. For those who are new to forex trading in Australia, IC Markets provides some really low spreads in addition to some helpful instructional materials. EToro While it is well recognized as a general broker worldwide, eToro may also be a great option for Australian forex traders. The Australian Securities and Investments Commission has complete regulatory authority over eToro and accepts Australian citizens .<\/p>\n

Forex Sessions<\/h2>\n

Dollars to get some British Pound for pocket money at an Airport Foreign Exchange Kiosk after arriving in London, in the middle of the night, it would be also considered as a foreign exchange trade. However, as you can guess by now, large billion-dollar, cross-border, transactions do not happen at 3 a.m. Session times also vary according to daylight savings times in the relative regions — so the Sydney, London and New York forex session times are impacted by daylight savings, whereas Tokyo is not. And to make matters more complicated, the Sydney session is in the southern hemisphere, so their daylight savings season is opposite to that of London and New York. Spot gold and silver trading is available 23 hours a day from 10pm GMT Sunday through 9pm GMT Friday. Trade 9,500+ global markets including 80+ forex pairs, thousands of shares, popular cryptocurrencies and more.<\/p>\n