The forex market opens and closes at different times depending on which financial centre you are in

The forex market does not have a single opening bell. It runs 24 hours a day, five days a week across four main trading sessions: Sydney, Tokyo, London, and New York. Each session opens and closes at a set time in that city's local timezone, but the market itself never truly closes — as one session ends, another begins on the other side of the world.

If you trade forex or are thinking about it, you need to know when each session starts and stops in your own timezone, because trading volume and price movement vary dramatically between sessions. The busiest times are when two sessions overlap, and the slowest times are when only one small market is open.

Key Takeaways

  • The forex market runs continuously from Sunday evening (US time) through Friday afternoon (US time), with four overlapping sessions across Sydney, Tokyo, London, and New York.
  • Each session has its own opening and closing time in local hours — Sydney opens at 10 p.m. Sunday US Eastern Time, and New York closes at 5 p.m. Friday US Eastern Time.
  • The London-New York overlap (8 a.m. to 12 p.m. London time) is the busiest trading window because it combines the two largest forex markets.
  • Currency pairs move differently in different sessions depending on which countries' economic news is being released and which traders are awake and active.
  • Your broker's opening and closing times may differ slightly from the official session times, so check your platform's hours before you trade.

Sydney Session: First to open each week

Sydney opens first on Sunday evening US Eastern Time — specifically at 10 p.m. ET on Sunday and closes at 8 a.m. ET on Monday. In Sydney local time, that is 2 p.m. Monday through 12 a.m. Tuesday. The Sydney session is the smallest of the four in terms of trading volume, but it sets the tone for the week and often reacts to economic data released over the weekend in Asia-Pacific countries.

If you are in the US and want to trade the Sydney session, you are trading late Sunday night into early Monday morning. Most retail traders in North America skip this session because the hours are inconvenient and volatility is lower. Currency pairs involving the Australian dollar and New Zealand dollar tend to move more during Sydney hours than pairs like EUR/USD.

Tokyo Session: Early morning US time

Tokyo opens at 7 p.m. ET Sunday and closes at 4 a.m. ET Monday. In Tokyo local time, that is 9 a.m. Monday through 6 p.m. Monday. The Tokyo session is larger than Sydney but still smaller than London or New York. It is the main session for trading the Japanese yen and Asian currency pairs.

For US traders, Tokyo hours fall in the middle of the night. The session does overlap with the last hour of Sydney, which can bring a small increase in volume. Economic data from Japan — inflation reports, employment figures, central bank decisions — typically moves the yen during Tokyo hours.

London Session: The busiest European window

London opens at 3 a.m. ET and closes at 12 p.m. ET. In London local time, that is 8 a.m. through 5 p.m. London is the largest forex market by volume and the centre of European trading. Major currency pairs like EUR/USD, GBP/USD, and USD/CHF see their heaviest movement during London hours.

The London session overlaps with Tokyo for one hour (3 a.m. to 4 a.m. ET), which can bring a brief spike in volume. The real surge happens when London overlaps with New York — that is when the two largest forex markets are both open at the same time.

New York Session: Highest volume and volatility

New York opens at 8 a.m. ET and closes at 5 p.m. ET. This is the largest forex market by volume and the session most US traders work in. Major US economic data — jobs reports, inflation figures, Federal Reserve decisions — is released during New York hours and moves currency pairs sharply.

The overlap between London and New York runs from 8 a.m. to 12 p.m. ET. This four-hour window is the busiest time in the entire forex week. Bid-ask spreads narrow, volume surges, and price swings are largest. If you are a US trader and want to trade during high volume, this is your window.

How to convert session times to your timezone

All the times listed above are in US Eastern Time. If you live elsewhere, you need to convert them. The simplest method is to use a timezone converter online — search "forex session times [your city]" and most brokers publish a chart for your region.

Keep in mind that daylight saving time shifts these times by one hour twice a year. The US, UK, and Australia do not all change on the same date, so for a few weeks each year the overlaps shift. Your broker should update their session times automatically, but it is worth checking in March and November.

Some brokers also publish a "market hours" widget on their trading platform that shows you in real time which sessions are open and which are coming next. This is more reliable than trying to calculate it yourself.

Why session times matter for your trading

Different sessions have different characteristics. The London-New York overlap is volatile and liquid — spreads are tight and you can enter and exit large positions quickly. The Sydney or Tokyo sessions alone are slower and wider spreads. If you trade a currency pair that is not actively traded during your session, you may pay more to get in and out.

Economic news also clusters by session. US jobs data comes out at 8:30 a.m. ET (during New York open), so USD pairs spike then. Bank of England decisions come out during London hours. Reserve Bank of Australia data comes out during Sydney hours. If you want to trade around major news, you need to know which session it falls in.

Some traders deliberately trade only during certain sessions to match their sleep schedule or to focus on specific currency pairs. Others use slow sessions to set up positions they plan to hold through a busier session. Understanding the session calendar helps you plan your trading around your own schedule and the market's natural rhythms.

Frequently Asked Questions

Does the forex market close on weekends?

Yes. The market closes at 5 p.m. ET on Friday (New York close) and does not reopen until 10 p.m. ET on Sunday (Sydney open). Over the weekend, no major forex trading happens, though some brokers offer limited trading on certain pairs. Prices can gap up or down when the market reopens if major news broke over the weekend.

What time should I trade if I am in Europe?

If you are in Europe, the London session (8 a.m. to 5 p.m. London time) is your local market and has the highest volume for European traders. The London-New York overlap (8 a.m. to 12 p.m. London time) is busiest. Tokyo opens at 1 a.m. London time, so most European traders skip it unless they specifically trade the yen.

Can I trade forex at any time, or only during official session hours?

You can trade 24 hours a day through your broker, but liquidity and spreads vary. During official session hours, spreads are tighter and volume is higher. Outside those hours, spreads widen and it may take longer to fill your order. Most retail traders stick to the four main sessions for this reason.

What happens to forex prices between sessions?

Prices do not stop moving between sessions — they continue to trade, just with lower volume and wider spreads. If major news breaks during a closed session (like a central bank announcement on a weekend), the price will gap when the next session opens. This is why traders watch for weekend news even though they cannot trade it.

Do all brokers use the same session times?

Most brokers follow the same session times, but some may open or close slightly earlier or later depending on their own operations. Check your broker's "market hours" page or contact them directly to confirm their exact opening and closing times. Some brokers also offer extended hours trading on certain pairs outside the standard sessions.