Forex Market Hours and Trading Sessions
The Forex market is the largest financial market in the world, with a daily volume ranging approximately between two-three trillion dollars. To become a successful Forex trader, one has to carefully study all the important aspects of the foreign exchange market. Among them are Forex (FX) trading market hours, and trading sessions. What do we mean when we refer to FX market hours? They refer to the hours when FX market participants are able to purchase, sell, exchange, and speculate on different currencies.
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The Forex market is open 24 hours a day, five days a week and is made up of banks, different commercial companies, central banks, hedge funds, investment management firms, not to mention retail Forex brokers and investors around the world.
In the Interbank Forex market, the majority of large international banks have multiple offices around the globe, so that they can pass their local clients' foreign exchange orders to an affiliated branch at any time during the 24-hour cycle.
This process would typically be executed in an orderly fashion at any hour of the working week, unless interrupted by a bank holiday. Banks would operate during regular business hours at each regional office, and the open trading book is passed onto another regional office usually in a later time zone.
During each Forex trading session, the city with the major financial hub in the relevant region is given the session title during their business hours. If you are trying to analyse the best time to trade Forex risks.