2. Forex market hours
The foreign exchange market is open 24 hours a day, five days a week – forex can be traded from 9pm Sunday to 10pm Friday (UK time). These long hours are because forex transactions are completed between parties directly, over-the-counter (OTC), rather than through a central exchange. And because forex is a truly global market, you can always take advantage of different active session’s forex trading hours.
It is important to remember that the forex market’s opening hours will vary in March, April, October and November, as countries shift to daylight savings on different days.
Does forex trade on weekends?
The forex market closes on Friday night at 10pm (UK time) and does not open again until 9pm (UK time) on Sunday evening. However, because the market is only closed to retail traders (not central banks and related organisations), forex trading actually does take place over the weekend. This means that there can be a difference in price between Friday close and Sunday open – known as a gap.
Traders need to be highly aware of the weekend forex trading hours and alter their positions accordingly. If you do not want to expose your position to the risk of gapping, you may want to consider closing your position on Friday evening or placing stops and limits to manage this risk.
Learn more about how to trade forex