Forex is considered to be a 24/5 market. Yes, that is the case, but there is a minor technicality involved. The forex market operates worldwide, and it has different sessions. As a result, traders can trade almost all day, making it 24 hours a day, five days a week.
This article will answer your question, What Time Does the Forex Market Open in South Africa? And we will address everything you need to know related to it.
What Time Does the Forex Market Open in South Africa? – Trading sessions
Forex trading is the most volatile trading market. Hence, a trader can’t sit all day long and watch the charts. Forex offers different trading sessions that traders can choose from based on their convenience.
Users can choose a trading session that suits their trading session. Four trading sessions are;
- London session
- Tokyo session
- New York session
- Sydney session
These sessions cover all the time zones, and traders can pick one they want now. Let’s see at what time does the Forex market open in South Africa?
New York Trading session
It is one of the most popular sessions in Forex trading,
- GMT 12:00 to 20:00
- EST 08:00 to 16:00
- BST 13:00 to 21:00
- SAST 14:00 to 22:00 (South African time)
According to the New York/North American trading hours, South African traders can start trading around 4 pm. Almost 17% of Forex trades take place in the New York session. This is a good time for most traders because the Asian session closed recently before the New York sessions started, and the European session has gone flat by this time.
Almost all currencies can be traded in the New York session, and everyone has to pay attention to it since the USD serves as the base currency in trades.
London Trading session
The timings for the London session are;
- GMT 07:00 to 16:00
- EST 03:00 to 12:00
- BST 08:00 to 17:00
- SAST 09:00 to 08:00 (South African time)
Europe is a considerable Forex market. London open is a critical trading session since many important trading centers are in Europe. 43% of trades happen in London open.
Tokyo Trading session
Tokyo is a bustling market for stock trading, and the case is similar for Forex;
- GMT 23:00 to 08:00
- EST 19:00 to 04:00
- BST 24:00 to 09:00
- SAST 01:00 to 09:00 (South African time)
Japan is the third-largest trading center, and the yen is the third-largest trading currency in Forex. Tokyo session experiences the highest liquidity at the start of the week.
Sydney Trading session
Sydney session doesn’t get a lot of attention because of unfavorable trading hours for other people,
- SAST 08:00 TO 10:00
South African traders with evening or night shifts find this trading session favorable.
We have a few valuable tips for our readers interested in the question: What time does the Forex market open in South Africa?
- Low liquidity rates
It is relatively less active.
- Most active market
- Currencies are most active
New York Market:
- Second most active market
- USD is the most active
After reading this article, our South African readers will know the answer to that. What time does the Forex market open in South Africa? Moreover, our tips are helpful to have a basic idea about trading in a market.