The forex market runs 24 hours a day, five days a week, but not all at once

The forex market does not have a single opening bell or closing time. Instead, it moves across time zones as trading centres wake up and shut down. Tokyo opens first (Sunday evening US time), followed by London, then New York. Each centre overlaps with the next, so currency pairs trade continuously from Sunday 5 p.m. Eastern time through Friday 4 p.m. Eastern time. The market closes entirely on weekends and does not reopen until Sunday evening.

If you trade forex, you need to know when your local time aligns with these centres, because volume and volatility change sharply at each handoff. The busiest hours are when two centres overlap — London and New York together, for example — because that is when the most traders are active at once.

Key Takeaways

  • The forex market opens Sunday at 5 p.m. Eastern time (Tokyo session) and closes Friday at 4 p.m. Eastern time (New York session close).
  • Three main trading sessions — Tokyo, London, and New York — each have their own opening and closing times in their local zones.
  • The market is most active during the London-New York overlap, roughly 8 a.m. to noon Eastern time on weekdays.
  • Currency pairs trade around the clock during the week, but the market shuts down completely from Friday 4 p.m. Eastern through Sunday 5 p.m. Eastern.

Tokyo session: Sunday evening through Monday morning Eastern time

The Tokyo session opens at 7 a.m. Japan Standard Time on Monday morning, which is 3 p.m. Sunday Eastern time. It closes at 4 p.m. JST on Monday, which is 2 a.m. Eastern time Monday morning. If you are on the US East Coast, this session runs while you are sleeping or just waking up.

Tokyo is the smallest of the three major centres by volume. Currency pairs involving the Japanese yen (JPY) tend to move more during this session because Japanese banks and exporters are active. Other pairs trade more thinly, meaning wider spreads and fewer traders willing to take the other side of your trade.

London session: Early morning through midday Eastern time

The London session opens at 8 a.m. Greenwich Mean Time (or 9 a.m. British Summer Time, depending on the season). In Eastern time, that is 3 a.m. EST or 4 a.m. EDT. London closes at 5 p.m. GMT or 6 p.m. BST, which is noon or 1 p.m. Eastern time.

London is the largest forex centre by volume. Major currency pairs — especially those involving the euro (EUR) and British pound (GBP) — see their heaviest trading during this window. If you trade during London hours from the US East Coast, you are trading in the early morning, typically 3 a.m. to noon Eastern time.

New York session: Late morning through late afternoon Eastern time

The New York session opens at 8 a.m. Eastern time and closes at 4 p.m. Eastern time. This is the second-largest centre by volume and the one most US-based traders use. Pairs involving the US dollar (USD) — which is one side of roughly 90 percent of all forex trades — move most actively during New York hours.

The New York session overlaps with London for four hours (8 a.m. to noon Eastern time). This overlap is the busiest window of the entire week because traders from both centres are active at once. Spreads narrow, volume spikes, and price moves tend to be sharper.

How to convert session times to your time zone

The three sessions operate on their own local time, so you need to know your offset from Eastern time. If you are on the US West Coast, subtract three hours from all Eastern times listed here. If you are in Central Europe, add six hours. If you are in Australia, the offset depends on which Australian state you are in and whether daylight saving is in effect — generally add 14 to 16 hours.

A simple way to track this: use a forex market hours tool or your broker's platform, which usually displays the session times in your local zone automatically. If you are planning to trade at a specific time, convert that time to Eastern first, then check which session is active.

Why session times matter for your trading

Different sessions have different characteristics. Tokyo tends to be quieter and moves in smaller increments. London is volatile and fast. New York is liquid and follows economic news releases from the US. If you trade a pair that moves most during London hours but you only trade during New York hours, you may miss the pair's biggest moves of the day.

Spreads also widen during slow periods. If you place a trade during the Tokyo session on a minor currency pair, you may pay a wider spread than if you traded the same pair during London-New York overlap. Some traders deliberately trade during overlap hours to get tighter spreads and faster execution.

Weekend gap and Sunday reopening

The forex market closes at 4 p.m. Eastern time on Friday and does not reopen until 5 p.m. Eastern time on Sunday. This two-day gap means no forex trades execute over the weekend, even though news and events continue. When the market reopens Sunday evening, prices may gap — jump suddenly — if major news broke while the market was closed.

Some brokers offer limited weekend trading on certain pairs, but this is not the standard forex market. Spreads are typically much wider on weekend trades, and liquidity is thin. Most retail traders avoid weekend trading for this reason.

Frequently Asked Questions

Can I trade forex at any time during the week?

Yes. The forex market is open 24 hours a day from Sunday 5 p.m. Eastern through Friday 4 p.m. Eastern. You can place trades at any hour during this window, though spreads and volume vary by session. Most brokers allow trading at any time, but some restrict certain pairs during slow periods.

What time is best for trading forex?

The London-New York overlap (8 a.m. to noon Eastern) is the busiest and most liquid window. Spreads are tightest and price moves are sharpest. If you trade a specific currency pair, the best time is usually when the country that issued that currency is awake — for example, trade the euro during London hours, the yen during Tokyo hours.

Does the forex market close on holidays?

Yes. The market closes on major holidays in the US, UK, and Japan — including Christmas, New Year's Day, and Independence Day. Some sessions may close early on certain holidays. Check your broker's holiday calendar before you trade around major holidays.

Why do prices gap when the market reopens on Sunday?

No trades execute over the weekend, so prices cannot adjust to news that breaks while the market is closed. When trading resumes Sunday evening, the first trades may occur at a different price than Friday's close. This gap can work for or against you depending on the direction of the move.

What happens if I leave a trade open when a session closes?

Your trade stays open. Closing a session does not close your position. Your trade remains active through the next session and beyond until you close it or it hits a stop-loss or take-profit level. However, spreads widen and liquidity drops during slow sessions, so your position may be harder to close at a good price.