The best forex trading hours occur during the UK London session. 8am to 5pm Eastern Standard Time / Greenwich Mean Time (GMT). Even thought the forex market is open twenty four hours a day and operates five and a half days a week, there is more liquidity and price movement during certain sessions.
Day traders whom trade very short term can focus on these more active
hours as there are better opportunities to take advantage of price
movements. End of day traders who's positions last from one day to
several weeks still have to understand when prices are more likely to
start moving so they can place their orders before the market makes a
Apart from the fact that most of the largest banks are located in
London and are used by businesses, government and people to exchange
money we also have a overlap of forex market hours with other countries.
As seen on the chart below, notice with the opening of the London
session we also have the closing of the Tokyo session, the opening of
the Frankfurt session and the close of the Hong Kong and Singapore
sessions. All these markets are open within the first three hours of the
We can also see from the chart that there is another overlap on
the last four hours of the London session. New York, which is the second
biggest market after London, opens it's session. The last three hours
of the Frankfurt session are also within London's session.
During the London session, all of the major currencies trade well with good liquidity. Mid week has the best liquidity.
We can also see the Japanese Yen is a good trading candidate
during the Tokyo, Australia, Hong Kong and Singapore overlap, starting
at 2am Eastern Standard Time.(9am Western Australia Time or 11am East
coast of Australia).
It is also important to be careful or not trade near holidays and public holidays when price movements can become very erratic or too volatile for your chosen trading strategy.
Country Session Times - "o" = Opening and "C" = Close time.
You can also use the "Forex Market Time Converter", to view the major market open and close times in your own local time zone by clicking here.
Another website showing GLOBAL EXCHANGE opening market hours, along with current time is http://www.marketindex.com.au/trading-hours
This free software lets you find out what forex session is currently in progress. It gives you the forex trading hours along with the current time. It's from the forexfactory forum.
Member Since May 2007
Default World Forex Market Times Desktop Tool (free) Hi, I wrote this world market time tool for forex trading hours a while ago and find it very useful. It works perfectly in my timezone (Mountain). Please download it and let me know if it works in your timezone. let me know below. (don't forget to mention your timezone)
I wrote it because I could not find a decent world clock for Forex, free or paid .....get it here.