By Christopher Lewis
Reviewer Adam Lemon
Fact check DailyForex.com team
While the forex market operates 24/5 with almost $8 trillion in daily turnover, allowing forex traders to trade when they want, my short guide below will reveal how you can make more money with your existing strategy by trading during specific hours on the UK forex market.
Forex trading in the UK starts at 22:00 GMT on Sunday and ends at 22:00 GMT on Friday. Operating 24/5, the Forex market has no official opening and closing times, only the beginning and end of the trading week.
From a technical perspective, the most profitable hours in the Forex market are during the most liquid trading sessions.
Trading sessions with the most forex liquidity are the best because more liquidity leads to a smaller spread, which leads to more profit.
Below are the forex market opening times available from the best forex brokers in the UK.
Sydney Forex Trading Session
|
|
Local time |
GMT Time |
|
Open it |
Monday 08:00 |
Sunday 22:00 |
|
Close |
Monday 16:00 |
Monday 06:00 |
Tokyo Forex Trading Session
|
|
Local time |
GMT Time |
|
Open it |
Monday 09:00 |
Sunday 24:00 |
|
Close |
Monday 18:00 |
Monday 09:00 |
London Forex Trading Session
|
|
Local time |
GMT Time |
|
Open it |
Monday 08:00 |
Monday 07:00 |
|
Close |
Monday 16:00 |
Monday 15:00 |
New York Forex Trading Session
|
|
Local time |
GMT Time |
|
Open it |
Monday 08:00 |
Monday 12:00 |
|
Close |
Monday 16:00 |
Monday 20:00 |
Four trading sessions account for 75% of all global Forex trading – Sydney, Tokyo, London and New York. London and New York account for over 60% of the total global daily Forex trading volume.
Four main forex trading sessions:
- Sydney unofficially kicks off the trading week
- Tokyo injects most of Asia’s liquidity
- London accounts for the majority of Forex trading volume
- New York unofficially ends the trading week
Here are the unofficial Forex market hours for the four main Forex centers:
|
|
Local business hours |
GMT Opening Time |
|
Sydney |
Monday 08:00 |
Sunday 22:00 |
|
Tokyo |
Monday 09:00 |
Sunday 24:00 |
|
London |
Monday 08:00 |
Monday 07:00 |
|
New York |
Monday 08:00 |
Monday 12:00 |
Sessions overlap when two Forex markets operate simultaneously, which increases liquidity and creates more trading opportunities with lower trading fees. The London – New York overlap session is the most important Forex trading period for Forex traders, accounting for 60%+ of all Forex trading activity.
Sydney – Tokyo Overlapping Forex Trading Session
|
UK start time |
UK End Time |
Currency pairs to consider |
|
Monday 00:00 |
Monday 06:00 |
AUD/USD, AUD/NZD, NZD/USD, AUD/NZD, AUD/JPY, NZD/JPY, USD/JPY |
Tokyo – London Overlapping Forex Trading Session
|
UK Start Time |
UK End Time |
Currency pairs to consider |
|
Monday 08:00 |
Monday 11:00 |
GBP/JPY, EUR/GBP, EUR/USD, EUR/JPY, GBP/CHF, EUR/CHF, CHF/JPY |
London – New York Forex Trading Session Overlay
|
UK start time |
UK End Time |
Currency pairs to consider |
|
Monday 12:00 |
Monday 16:00 |
EUR/USD, USD/CHF, USD/JPY |
Consider my tips below to improve your trading results.
- Awareness of Forex session overlap ensures the execution of the right trading strategy
- Economic calendars help avoid spikes in volatility
- Adequate execution of risk management
- Using artificial intelligence trading tools
The best hours in the UK forex market are when forex traders can focus on their strategy. From a liquidity and profitability standpoint, the three Forex session overlays remain superior, accounting for 75%+ of global Forex trading volume, faster order execution, lower spread and increased profitability.