The forex market is opened 24 hours a day as various financial centers open and close with overlapping timings. However, it is important to know at what time of the day there are the most activity and liquidity to be sure you have tight spreads and your orders will be filled with no or minimal slippage. Forex traders need price movements to make money. If the market price does not change at all, there is no profit to be made.
The major financial centers are New York (for the Americas), London (for Europe) Sydney (for Australasia) and Tokyo (for Asia).
It is safe to assume the normal work day to be from 9am to 6pm for the bankers in various countries.
Using GMT time, the trading hours for the following markets will be:
Tokyo – 0000 am (midnight) to 0900 am
London – 0700 am to 1600 pm
New York – 1200 pm to 2100 pm
Sydney – 2100 pm to 0600 am (the next day)
The two important overlap sessions are the Asia-Europe overlap at 0700 am to 0900 am GMT and the Europe-US overlap at 1200 pm to 1600 pm GMT.
This Oanda market hours widget is a good resource.
If your trading platform (like MT4) or broker does not display your local time and you are not allowed to change it, check below.
Find the current time bar on your chart and your current time and do the calculations. You will then have your time zones.
In my case, I am 5 hours ahead of the trading platform. So I will just shift my market hours 5 hours back accordingly.
You can then install this handy indicator for MT4 which you can set your own hours and they will display the trading hours in boxes.
[insert session mt4 ]
If you are using Alpari UK, their platform time is GMT+3 by the way. It may change again in the future, so just make sure you are up to date with any information from your broker.
Alternatively, you can simply Google search the current time!by