The forex market is open 24 hours a day, five days a week, but not all currency pairs trade with equal volume at all times

The forex market does not have a single opening bell or closing time like stock exchanges do. Instead, it operates continuously across four major trading sessions: Tokyo, London, New York, and Sydney. Each session overlaps with others, so there is always some forex trading happening somewhere — but the volume, liquidity, and spreads (the cost of a trade) vary dramatically depending on which session is active and which currency pair you want to trade.

The market is closed only on weekends and on certain public holidays observed by the major financial centres. Most brokers stop accepting new trades on Friday evening (US time) and reopen on Sunday evening. The exact times depend on your broker and your time zone, so you need to check your broker's schedule, not a general rule.

Key Takeaways

  • Forex trades 24 hours a day Monday through Friday, but volume and spreads change based on which session is active.
  • The four main sessions are Tokyo (Sunday 5 p.m. to Monday 2 a.m. US Eastern time), London (3 a.m. to 12 p.m.), New York (8 a.m. to 5 p.m.), and Sydney (5 p.m. Sunday to 2 a.m. Monday).
  • Your broker's trading hours may differ from the market's hours, so check your broker's platform or website for when you can actually place trades.
  • Spreads are usually tightest during the London and New York sessions when volume is highest, and widest during the Tokyo session or between sessions.
  • The market closes entirely on weekends and on major holidays like Christmas, New Year's Day, and Good Friday.

The four trading sessions and when they overlap

The Tokyo session runs from approximately 7 p.m. Sunday to 4 a.m. Monday (US Eastern time). This is the smallest of the four sessions by volume. The yen and Asian currencies are most active here, but major pairs like EUR/USD and GBP/USD trade with wider spreads because fewer traders are active.

The London session opens at 3 a.m. Eastern time and closes at 12 p.m. This is one of the two largest sessions. The pound, euro, and many commodity-linked currencies see their heaviest trading here. The overlap between London and Tokyo (roughly 3 a.m. to 4 a.m. Eastern) is brief but can see sharp price moves.

The New York session runs from 8 a.m. to 5 p.m. Eastern time and is the largest by volume. The US dollar, which is one side of about 90 percent of all forex trades, is most active now. The overlap between London and New York (8 a.m. to 12 p.m. Eastern) is when spreads are tightest and liquidity is highest.

The Sydney session opens at 5 p.m. Sunday Eastern time and closes at 2 a.m. Monday. It is the smallest session and sees the least volume. The Australian and New Zealand dollars are most active, but spreads on major pairs are wide. The overlap between Sydney and Tokyo is when Asian trading dominates.

How to check your broker's specific trading hours

Your broker may not be open during all 24 hours of the forex market. Some brokers close on Friday evening US time and do not reopen until Sunday evening. Others close for a few hours between sessions. The only way to know is to check your broker's website or platform directly.

Log into your trading platform and look for a market status indicator, usually near the top of the screen or in a "Market Hours" section. Most platforms show which session is currently active and when the next one opens. If you cannot find this information on the platform, call your broker's customer service line or check their FAQ page — they will tell you their exact hours and any holidays when they are closed.

Some brokers also publish a holiday calendar showing when they will be closed for Christmas, New Year's Day, Good Friday, Easter Monday, and other holidays. These dates vary by broker and by which markets they serve, so do not assume your broker is open just because the forex market technically is.

Why spreads and volume matter when the market is open

The forex market being "open" does not mean it is equally open at all times. During the New York and London overlap, spreads on major pairs like EUR/USD are often 1 to 2 pips. During the Tokyo session or between sessions, the same pair might have a spread of 3 to 5 pips or wider. That difference adds up quickly if you trade frequently.

Volume also affects how fast your order fills and whether you get the price you see on your screen. During high-volume sessions, a market order usually fills instantly at or near the quoted price. During low-volume sessions, your order might fill at a worse price, or you might have to wait longer for a fill. This is especially true for exotic currency pairs, which trade with much lower volume than major pairs at all times.

Market closures and holidays

The forex market closes entirely on Saturday and Sunday. Most brokers stop accepting new trades on Friday at 5 p.m. US Eastern time and reopen on Sunday at 5 p.m. Eastern time. Some brokers have a brief closure between Friday close and Sunday open to settle trades and perform maintenance.

The market also closes on major holidays observed by the financial centres. These include New Year's Day, Good Friday, Easter Monday, Christmas Day, and Boxing Day (December 26). Some brokers also close on US Thanksgiving, Independence Day, or other national holidays. The exact list depends on your broker and which markets they serve. Check your broker's holiday calendar before you plan to trade around a holiday.

What to do if you want to trade but the market is closed

If your broker is closed, you cannot place a new trade on their platform. You have a few options. First, you can wait until the market reopens. Second, you can switch to a broker that operates during different hours — some brokers serve clients across multiple time zones and may have extended hours. Third, you can trade a different asset class that is open when forex is closed, such as stocks or cryptocurrencies, though these carry different risks and costs.

If you have an open position when the market closes, it will remain open. Your broker will hold it over the weekend or holiday. Be aware that when the market reopens, the price may have moved significantly — especially if news broke while the market was closed. This is called "gap risk" and is one reason traders close positions before major closures.

Frequently Asked Questions

Can I trade forex on Saturday or Sunday?

No. The forex market is closed on weekends. Most brokers stop accepting new trades on Friday evening US time and reopen on Sunday evening. Some brokers may offer limited trading on cryptocurrencies or other assets on weekends, but traditional forex pairs are not available.

What time does the forex market open on Monday?

The Sydney session opens on Sunday evening US time (around 5 p.m. Eastern). The Tokyo session follows a few hours later. If you are in the US, you can start trading forex on Sunday evening, not Monday morning. Check your broker's exact reopening time, as it varies.

Why are spreads wider at certain times?

Spreads widen when fewer traders are active and volume is low. The Tokyo session and the hours between sessions have the lowest volume, so spreads are wider. The London-New York overlap has the highest volume, so spreads are tightest. If you trade during low-volume times, you pay more per trade.

Does the forex market close on US holidays?

Most brokers close on major US holidays like New Year's Day, Independence Day, and Thanksgiving, even though the forex market in other parts of the world may still be operating. Check your broker's holiday calendar to confirm. Some brokers stay open during certain holidays, so do not assume.

What happens to my open trades if the market closes?

Your open positions remain open over the weekend or holiday closure. When the market reopens, your trade is still active at the price level you set. However, the market price may have moved significantly while closed, so your position could be in profit or loss when trading resumes.