What are the forex market hours in Singapore?
Forex market hours run 24-hours a day during the week, but the market is closed on weekends. This continuous trading is only possible because forex is traded all over the world in decentralised venues.
Forex market hours are broken up into four major trading sessions: Sydney, Tokyo, London and New York. These are the largest trading centres, accounting for nearly 75% of FX daily volume. The market is open from 06:00 SGT on Monday – when the Sydney session starts – to 06:00 SGT on Saturday when the New York session closes for the weekend. These times will vary when regions observe daylight saving time.
At any point in time, there’s always one forex session open although there are periods of downtime when the market is quiet – usually in the morning between 03:00 and 06:00 SGT when New York is winding down before Sydney starts.
Our forex trading hours
With City Index, you can trade forex 24-hours a day from 06:00 SGT on a Monday morning to 06:00 on a Saturday morning. You’ll have the choice of trading 84 global FX pairs, with spreads from just 0.5 points.
Global forex market session opening times
The opening time of the forex market depends on which of the four forex trading sessions you’re interested in. As trading around the clock would be near impossible, forex traders tend to focus their energy on specific sessions or time periods. The forex market opening times are:
||Eastern Standard Time
|Coordinated Universal Time
It’s important to be aware that forex open and close times will also vary based on the time of year, as countries that shift to and from daylight savings will alter market hours in March, April, October and November.
When is the best time to trade forex in Singapore?
The best time to trade forex is when the market is most active – this is when you’ll get the narrowest spreads and best chance of executing a trade at your desired levels. The forex market is usually most active when the market hours overlap between sessions, as this is when the number of traders buying and selling each currency increases.
The overlap windows for exchanges are:
- 21:00 to 01:00 (SGT) when both New York and London exchanges are open
- 08:00 to 15:00 (SGT) when both Tokyo and Sydney exchanges are open
- 16:00 to 17:00 (SGT) when both Tokyo and London exchanges are open
The first of these windows, between New York and London, is possibly the most important. These two centres account for over half of all forex trades.
By looking at the average pip movement of the major currency pairs during each forex trading session, we can see that the London session has the most movement.
However, the best time for you to trade forex will depend on which currency pair you’re looking at. As a rule, the most liquidity for each FX pair will occur when the sessions for the pair overlap – if both locations are open at the same time. For example, GBP/USD will experience a higher trading volume when both London and New York sessions are open.
It’s also important to be aware that high trading activity also leads to high volatility. While some traders like the opportunities that volatility can bring, others do not – either way, it’s vital to have a risk management strategy in place.
Forex market hours FAQs
How much money is traded on the forex market daily?
Approximately $6.6 trillion is traded on the forex market daily. Over 50% of these daily trades take place when the New York and London sessions overlap, making this one of the most popular times to trade to take advantage of the high turnover.
What moves the forex market?
Forex markets are moved by factors such as economic data, central bank announcements and political uncertainty. When you’re trading FX, it’s important to remember you’re speculating on two currencies, so you’ll need to monitor market movers in each country. Forex will be more widely traded around these events.
What time does the forex market open?
The forex market opens on Sunday at 06:00 SGT, when the Sydney session opens for the day.
What time does the forex market close?
The forex market closes on Friday at 06:00 SGT, when the New York session closes.
What are the forex market sessions?
There are four trading sessions in the forex market:
- Sydney is open from 06:00 to 14:00 SGT
- Tokyo is open from 08:00 to 17:00 SGT
- London is open from 16:00 to 00:00 SGT
- New York is open from 21:00 to 06:00 SGT