When it comes to Forex trading hours, you definitely want to know when is the right time to execute your trades so that you can increase your income. The good news is that Forex trading is available 24 hours a day for 5 days a week. Thus, you can trade almost every day. Continue reading the article to learn about the best forex trading times in South Africa and how you can use it to cultivate the best results!
When is the forex market open?
Since different countries are in different time zones, the opening times of the foreign exchange market are also different. In this sense, business takes place 24 hours a day, 5 days a week. Traffic in Asia on Sunday (SAST) starts at sunrise and continues daily until the US closes. Following are the times the market is open in South African standard time (SAST):
- This is New Zealand’s most open market and is open from 8 pm to 5 am.
- Sydney is open from 11 pm to 8 pm.
- Tokyo opens at 1 am to 10 am.
- Hong Kong and Singapore are open from 3 am to 12 pm.
- The opening hours of the main European markets in Germany and Europe are from 8 am to 5 pm.
- London is the largest bar in the world, it opens at 10 am to 7 pm
- New York opens at 2 pm and closes at 11 pm.
What are the best hours to trade in South Africa?
The best time to trade Forex in South Africa or around the world is when the market is most active. With large stores in Europe, America and Asia, the best time to do business is when the market is open in any of these regions. An even better situation is when the opening hours of the three main shopping centers overlap.
- USA / London-14: 00-19: 00 (SAST) – This is the most powerful crossover on the market. More than 70% of transactions are currently being made, with the US dollar and the euro being the two most popular currencies to trade.
- Sydney / Tokyo – 8:00 am to 10:00 am (SAST). If you are trading EUR / JPY currency pairs, this is the best time to trade. This period is not as volatile as the intersection of the US and London, but it provides an opportunity to trade with high pip fluctuation. This period can be considered the best time to trade USD/JPY in South Africa.
- London / Tokyo 9: 00-10: 00 (SAST). This is the third overlap where you can trade for maximum profit, but not as well as the other two above.
Which overlapping hour is the best?
The best time to trade Forex in South Africa or anywhere in the world are joint sessions in London and the USA. At that time, the market is the most liquid because it has the largest number of participants. Moreover, it is during this period that the strongest price fluctuations occur, and trade is carried out most fairly. This is the time of greatest merger not only for those who trade in Euros or US Dollars, but also with other currencies.