The forex market opens Sunday evening and closes Friday afternoon in US time

The forex market runs 24 hours a day, five days a week, but it does not open everywhere at once. Trading begins Sunday at 5 p.m. Eastern Time when markets open in Wellington, New Zealand and Sydney, Australia. It then moves west through Tokyo, Singapore, and Hong Kong before reaching London and finally New York. The market closes Friday at 5 p.m. Eastern Time when the US session ends.

This rolling start means there is always a forex market open somewhere in the world during the business week. A trader in New York can trade currencies during their morning, but they are trading against banks and dealers in London or Asia who are already in their afternoon or evening. The continuous nature of forex is one reason it attracts traders — you are not locked into a single daily opening bell the way stock markets are.

Key Takeaways

  • Forex trading begins Sunday at 5 p.m. Eastern Time in the Asia-Pacific region and closes Friday at 5 p.m. Eastern Time in New York.
  • The market moves through four main trading sessions: Asia-Pacific, Europe, London, and North America, each with its own peak hours and typical trading volume.
  • Currency pairs move differently depending on which session is active — some pairs are most volatile during Asian hours, others during the US session.
  • Most retail forex brokers operate on the same Sunday-to-Friday schedule, though some offer limited trading on weekends through alternative products.

The four main trading sessions and their times

The forex market is divided into four overlapping sessions, each centered on a major financial hub. The Asia-Pacific session runs from Sunday 5 p.m. to Monday 2 a.m. Eastern Time and includes trading in Wellington, Sydney, Tokyo, and Singapore. This is the quietest session by volume, though it sets the tone for the week on Sunday evening.

The European session begins around 3 a.m. Eastern Time and runs until noon. London is the largest forex hub in the world, and this session typically sees the highest volume and most volatility. The North American session opens at 8 a.m. Eastern Time and closes at 5 p.m. Eastern Time. New York is the second-largest hub, and the overlap between London and New York (roughly 8 a.m. to noon Eastern) is when the most trading happens.

There is also a brief overlap between Asia and Europe (around 2 a.m. to 3 a.m. Eastern Time) when Tokyo is closing and London is opening. This overlap can bring sharp price moves in certain pairs, especially those involving the Japanese yen or British pound.

Which currency pairs are most active at different times

Not all currency pairs trade equally during all sessions. The EUR/USD (euro against US dollar) is most active during the London and New York sessions because both the euro and dollar are involved. The USD/JPY (US dollar against Japanese yen) sees its heaviest trading during the Asia-Pacific and London sessions, when Tokyo and London are both open.

Pairs involving the British pound, such as GBP/USD, spike in volume during the London session. Pairs involving the Australian dollar, such as AUD/USD, tend to move most during the Asia-Pacific session. If you trade a specific pair, knowing when that pair's home market is open helps you understand when to expect the biggest moves and the tightest spreads (the difference between buy and sell prices).

Spreads are usually tightest during the busiest sessions because more traders are competing, which narrows the gap between bid and ask prices. If you trade during off-peak hours for your pair, you may pay wider spreads, which eats into your profit on smaller moves.

How time zones affect when you can trade

Your ability to trade depends on when your broker's platform is open, which usually mirrors the forex market's hours. Most retail brokers allow trading from Sunday 5 p.m. Eastern Time through Friday 5 p.m. Eastern Time. If you are on the US West Coast, that means trading starts at 2 p.m. Pacific Time on Sunday and ends at 2 p.m. Pacific on Friday.

If you are outside the US, convert the market hours to your local time zone. A trader in London would see the market open at 10 p.m. GMT on Sunday and close at 10 p.m. GMT on Friday. A trader in Tokyo would see the market open at 6 a.m. JST on Monday morning and close at 6 a.m. JST on Saturday morning.

Some brokers offer extended hours or weekend trading through contracts for difference (CFDs) or other products, but these are not the same as the live interbank forex market. The spreads are usually wider, and the liquidity is lower because you are trading against the broker, not the global market.

Why the market closes on weekends

The forex market closes Friday evening because the major financial centers — New York, London, Tokyo — are all closed over the weekend. Banks and institutional traders, who make up the bulk of forex volume, do not trade on Saturday and Sunday. Without their participation, the market would have very little liquidity and very wide spreads.

The market also cannot open on Saturday morning in Asia because Friday evening in New York is still Friday in the US, and US traders and banks are not yet back at their desks. The market waits for Sunday evening in New York (which is already Monday morning in Asia) to restart the cycle.

This is different from stock markets, which have a single opening and closing time each day. Forex is a global, decentralized market, so it follows the business hours of the world's financial centers rather than a single exchange.

What happens to your open trades over the weekend

If you have an open position (a trade you have not closed) when the market closes Friday at 5 p.m. Eastern Time, that position stays open over the weekend. You do not lose it or have it automatically closed. However, you cannot close it or adjust it until the market reopens Sunday at 5 p.m. Eastern Time.

This means you carry the risk of a gap — a sudden jump in price when the market reopens if major news broke over the weekend. For example, if a central bank makes an unexpected announcement Saturday morning, the currency could open Sunday evening at a very different price than where it closed Friday. Your stop-loss order (an instruction to close the trade if it moves against you) will not protect you from a gap because there is no market to execute it on.

Some brokers offer weekend trading on forex CFDs, but the prices are usually quoted by the broker, not from the live market, and the spreads are much wider. This is a way to hedge your position over the weekend if you are worried about gap risk, but it is not the same as trading the real market.

How to plan your trading around market hours

If you trade during your local business hours, you may be trading during a quiet session for your currency pair. A trader in New York trading the AUD/USD during the US morning session is trading when Sydney is already closed and Tokyo is in the middle of its night. The spread will be wider, and the price may move less predictably because there are fewer traders in that pair.

If you want to trade when your pair is most active, you need to either wake up early or stay up late to match the hours when that pair's home market is open. Alternatively, you can trade pairs that are most active during your local hours — for example, a US trader can focus on EUR/USD or GBP/USD during the London-New York overlap, when both pairs are most liquid.

Many traders set alerts or use automated orders to enter or exit trades during peak hours for their pair, even if they are not watching the screen. This lets them take advantage of the best spreads and most predictable price movement without having to be awake at 3 a.m.

Frequently Asked Questions

Can I trade forex on Saturday or Sunday?

The interbank forex market is closed on Saturday and Sunday. Some brokers offer weekend trading on forex CFDs or other products, but these are not the live market — the prices are quoted by the broker, spreads are wider, and liquidity is lower. If you want to trade the real forex market, you must wait until Sunday 5 p.m. Eastern Time.

What time should I trade if I am in Europe?

If you are in Europe, the London session (3 a.m. to noon Eastern Time, or 8 a.m. to 5 p.m. GMT) is your local business hours and offers the best liquidity for most pairs. The overlap with New York (8 a.m. to noon Eastern, or 1 p.m. to 5 p.m. GMT) is when the most trading happens globally. Trading during these hours gives you tighter spreads and more predictable price movement.

Do I lose money if the market gaps over the weekend?

A gap can move against you, but it can also move in your favor. If you have an open position Friday at close and the market opens Sunday at a different price, your trade will be at that new price — you do not lose money just because a gap happened. You lose money only if the gap moves against your position. Using a stop-loss order does not protect you from gaps because there is no market to execute the order on during the gap.

Which currency pair should I trade if I can only trade during US hours?

EUR/USD and GBP/USD are most active during the London-New York overlap (8 a.m. to noon Eastern Time), so these pairs offer tight spreads and high volume during US business hours. USD/JPY is also active during the US morning because Tokyo is still trading. Pairs like AUD/USD are quieter during US hours because Sydney is already closed.

What happens to my stop-loss order over the weekend?

Your stop-loss order stays in place, but it cannot be executed while the market is closed. If the market opens Sunday at a price that would trigger your stop-loss, the order will execute at the opening price, which may be worse than your stop-loss level if there was a gap. This is called slippage, and it is a risk of holding positions over the weekend.