Unlike most financial markets that open around 8: Since Forex lacks a central exchange, it moves from country to country during the week. Forex only closes on weekends when most of the worlds banks are closed. The Forex market opens Monday at 8: It continues this cycle for five days, until the market closes at 6: At this point, the market is closed for the weekend. It can be confusing what time the market opens, as the time will be different depending on your location around the world.
The easiest way for you to figure out when the Forex market opens is to use my Forex clock. This handy clock shows you which markets are currently open, which are closed, and when the currently open market will close. This is important to know, as different sessions can be more or less volatile. You will learn more about volatility when you move on to the free course and my trading strategy.
Why is a 24 hour market awesome? One of the best features of Forex is that it can be traded at any time during the week. Why is this so cool? Well, imagine you want to day trade the stock market and you live on the U. You would likely wake up at 7: That would leave you with almost no time to trade. With the Forex market you could get home at 6: If one country has a bank holiday, there will always be another country in the same time zone with open banks.
This means that Forex transactions can still be processed.More...