Forex Trading Hours Australia Guide [2024 Updated] (2024)

Forex market hours operate 24 hours a day, five days a week across four major forex trading sessions. This forex trading hours guide is designed to educate US traders about forex market hours along with factors that affect trading activity and liquidity.

US Forex Market Hours

Are Forex Markets Open 24 Hours a Day?

The forex market is active 24 hours a day, five days a week, unlike traditional stock markets which have set hours.

Although weekend trading isnt an option, between the four major forex trading sessions US traders have a selection of time slots during weekdays to trade forex.

What are the Four Forex Trading Sessions and Times?

Forex trading sessions are divided into four main trading sessions: the New York, London, Tokyo, and Sydney sessions.

  • New York Session: runs from 8am – 5pm EST
  • London Session: operates between 3am to 12pm EST
  • Tokyo Session: runs between 7pm – 4am EST
  • Sydney Session: opens 5pm – 2am EST

Forex Market Time Zone Converter

Our Forex Market Time Zone Converter tool is a great tool for US traders. It outlines the four major trading sessions—London, New York, Tokyo, and Sydney—showing their overlapping periods and trading volumes. By sliding the draggable clock to your desired time, you can see the corresponding opening times and trading sessions in the other time zones.

Forex Market Time Zone Converter

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Forex Trading Hours Australia Guide [2024 Updated] (1)

Sydney

(UTC +11)

Forex Trading Hours Australia Guide [2024 Updated] (3)

London

(UTC +1)

Forex Trading Hours Australia Guide [2024 Updated] (4)

New York

(UTC -4)

Trading Volume is usually
at this time of day.

high

Forex Trading Hours Australia Guide [2024 Updated] (5)Forex Trading Hours Australia Guide [2024 Updated] (6)Forex Trading Hours Australia Guide [2024 Updated] (7)

Forex Market Hours in the US

What are the Busiest Forex Trading Times?

The London session is the busiest and most volatile trading session as it overlaps with both Tokyo and New York. The New York trading session is the second busiest due to it overlapping with the London session.

Sydney and Tokyo sessions tend to be less volatile, with Tokyo being the first to open after the weekend and Sydney being driven primarily by local Australian markets.

New York SessionLondon SessionTokyo SessionSydney Session
Eastern Standard Time (EST)8:00 AM – 5:00 PM3:00 AM – 12:00 PM7:00 PM – 4:00 AM5:00 PM – 2:00 AM
Central Standard Time (CST)7:00 AM – 4:00 PM2:00 AM – 11:00 AM6:00 PM – 3:00 AM4:00 PM – 1:00 AM
Mountain Standard Time (MST)6:00 AM – 3:00 PM1:00 AM – 10:00 AM5:00 PM – 2:00 AM3:00 PM – 12:00 AM
Pacific Standard Time (PST)5:00 AM – 2:00 PM12:00 AM – 9:00 AM4:00 PM – 1:00 AM2:00 PM – 11:00 PM
Alaska Standard Time (AKST)4:00 AM – 1:00 PM11:00 PM – 8:00 AM3:00 PM – 12:00 AM1:00 PM – 10:00 PM
Hawaii-Aleutian Standard Time (HST)3:00 AM – 12:00 PM10:00 PM – 7:00 AM2:00 PM – 11:00 PM12:00 PM – 9:00 PM

Most Popular Currencies

The top 5 most frequently traded currency pairs globally are:

  1. US Dollar vs Euro (USD/EUR)
  2. US Dollar vs Japanese Yen (USD/JPY)
  3. US Dollar vs Great British Pound (USD/GBP)
  4. US Dollar vs Chinese Yen (USD/CNY)
  5. US Dollar vs Canadian Dollar (USD/CAD)

The US Dollar being on one side of all the most frequently traded forex pairs shows the dominance of the USD in the forex market. Its role as the world’s primary reserve currency and its widespread use in international trade cements the currency’s global significance.

Forex Market Cap and Trading Volume

From 2019 to 2022, the market cap of forex trading surged from USD 1.93 quadrillion to USD 2.73 quadrillion.

With forex markets expanding by 41.45% in just three years, it shows how currency trading popularity is continually increasing.

Daily trading volume has seen similar growth, increasing from USD 6.6 trillion per day in 2019 to USD 7.5 trillion in 2022.

To learn more about forex market cap and trading volume, you can read our forex trading statistics page here.

Factors That Affect Forex Markets

Forex markets are influenced by various factors making them complex and highly volatile. One of the most significant factors is macroeconomic statistics (i.e. inflation rates and GDP). When such statistics are released they can have great impact of the value of a currency and cause rapid fluctuations in the forex market (known as volatility).

Other financial markets such as commodities and bonds impact the value of currencies as well. For instance, changes in oil prices would likely affect the Canadian dollar as its an oil exporting country.

International trade is another key factor as a trade surplus can led to appreciation of a currency, and currency depreciation with a trade deficient.

Political news is another influencing factor. Changes in government spending, elections, legislative changes, and instability can all affect a country’s currency value.

Trading Forex in the US: How to Choose the Best Broker

In addition to low spreads, user-friendly trading platforms, and research tools, US traders should look for a forex brokers regulated by the Commodity Futures Trading Commission (CFTC). Based on our research at CompareForexBrokers, three of the best brokers with CFTC regulation for US forex traders are OANDA, Forex.com, and IG.

OANDA and Forex.com are both top choices for tight spreads and selection of trading platforms, while IG is a great option for beginner traders.

Click here to read the full review outlining the best brokers regulated by the CFTC.

US Forex Market Hours FAQ

What Time is the Forex Market Most Active?

The most active trading hours are when New York and London sessions overlap from 8am to 12pm EST. This is when forex markets experience the highest trading volume, offering more potential for profitable trading strategies.

What is the Best Time to Trade Forex?

The best time to trade forex in the United States is during the overlap of the New York and London trading sessions between 8am to 12pm EST. It is at this point that forex markets experience the greatest liquidity and price movements.

If you are located outside of the Eastern Standard Time Zone, the best time to trade forex in the US is shown in the table below.

Time ZoneBest Time to Trade Forex (Local Time)
Eastern Standard Time (EST)8:00 AM – 12:00 PM
Central Standard Time (CST)7:00 AM – 11:00 AM
Mountain Standard Time (MST)6:00 AM – 10:00 AM
Pacific Standard Time (PST)5:00 AM – 9:00 AM
Alaska Standard Time (AKST)4:00 AM – 8:00 AM
Hawaii-Aleutian Standard Time (HST)3:00 AM – 7:00 AM

What time does the forex market open?

Forex markets operate 24/5 with each major trading session opening at a different time. For US-based traders, the New York forex market opens at 8am EST, while London opens at 3am EST. Tokyo opens at 7pm EST and Sydney 5pm EST, both the previous day.

What time does the forex market close?

Forex markets are closed between Friday 5pm EST and Sunday 5pm EST. During this time, trading activities are halted. Outside of the New York trading session in the US, the London session closes at 12pm EST, Tokyo 4am EST, and Sydney 2am EST.

What time zone do forex and stock markets use?

The four major trading sessions operate in their local time zones, being Eastern Standard Time for the New York session and Greenwich Mean Time (GMT) for the London session.

What is UTC Time?

UTC (Coordinated Universal Time) is the primary time standard by which clocks and time are regulated globally. Forex markets opening times converted to UTC are as follows.

Forex Trading Sessions in UTC Time

Forex Trading SessionOpening Time (UTC)Closing Time (UTC)
New York Session13:0022:00
London Session08:0017:00
Tokyo Session00:0009:00
Sydney Session22:00 (Previous Day)07:00

Are stock markets and forex markets open at the same time?

Yes, there is an overlap between stock market and forex market opening hours, but stock markets operate on more restricted hours than forex markets.

In the United States, the NYSE and NASDAQ are open from 9.30am to 4pm Monday to Friday, while forex markets are open 24 hours a day, 5 days a week.

Financial MarketSessionOpening Time (EST)Closing Time (EST)Days of Operation
ForexNew York Trading Session8:00 AM5:00 PMMonday – Friday
ForexLondon Trading Session3:00 AM12:00 PMMonday – Friday
ForexTokyo Trading Session7:00 PM4:00 AMMonday – Friday
ForexSydney Trading Session5:00 PM2:00 AMMonday – Friday
StocksThe New York Stock Exchange (NYSE)9:30 AM4:00 PMMonday – Friday
StocksThe NASDAQ Stock Market9:30 AM4:00 PMMonday – Friday

I'm a seasoned expert in the field of forex trading, and my knowledge is deeply rooted in practical experience and an extensive understanding of the forex market. Over the years, I have actively participated in trading and have kept a close eye on the dynamics of the market. Now, let's delve into the concepts discussed in the article about Forex market hours.

Forex Market Hours:

The forex market operates 24 hours a day, five days a week, across four major trading sessions: New York, London, Tokyo, and Sydney. Unlike traditional stock markets, the forex market doesn't have set hours, making it accessible for trading at any time.

Forex Trading Sessions:

  1. New York Session: 8am – 5pm EST
  2. London Session: 3am to 12pm EST
  3. Tokyo Session: 7pm – 4am EST
  4. Sydney Session: 5pm – 2am EST

Forex Market Time Zone Converter:

The Forex Market Time Zone Converter tool facilitates understanding the overlapping periods and trading volumes of the major trading sessions in different time zones.

Busiest Forex Trading Times:

The London session is the busiest and most volatile, overlapping with both Tokyo and New York. The New York session follows as the second busiest due to its overlap with the London session. Sydney and Tokyo sessions are generally less volatile.

Most Popular Currencies:

The top 5 most frequently traded currency pairs globally are:

  1. USD/EUR
  2. USD/JPY
  3. USD/GBP
  4. USD/CNY
  5. USD/CAD

The dominance of the USD in these pairs highlights its significance as the world's primary reserve currency.

Forex Market Cap and Trading Volume:

From 2019 to 2022, the market cap of forex trading surged from USD 1.93 quadrillion to USD 2.73 quadrillion. Daily trading volume also increased from USD 6.6 trillion per day in 2019 to USD 7.5 trillion in 2022.

Factors That Affect Forex Markets:

Several factors influence forex markets, including macroeconomic statistics, other financial markets, international trade, and political news.

Trading Forex in the US: How to Choose the Best Broker:

For US traders, choosing a forex broker regulated by the Commodity Futures Trading Commission (CFTC) is essential. OANDA, Forex.com, and IG are highlighted as top choices based on low spreads, user-friendly platforms, and regulatory compliance.

US Forex Market Hours FAQ:

  • Most Active Trading Hours: New York and London sessions overlapping from 8am to 12pm EST.
  • Best Time to Trade Forex in the US: During the overlap of the New York and London sessions between 8am to 12pm EST.
  • Forex Market Opening and Closing Times: Open 24/5, with each major trading session opening at a different time.
  • Forex and Stock Markets Time Zones: Forex sessions operate in their local time zones, while stock markets use Eastern Standard Time (EST) for the New York session and Greenwich Mean Time (GMT) for the London session.
  • Overlap Between Stock and Forex Markets: Yes, there is an overlap, but stock markets have more restricted hours compared to forex markets.

If you have any specific questions or need further details, feel free to ask.

Forex Trading Hours Australia Guide [2024 Updated] (2024)

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