When is the best time to trade Forex on XM platforms? Table of Contents

Forex market hours on XM platforms

When one major forex market closes, another opens.

According to Greenwich Mean Time (GMT), the forex trading hours in the world are: in New York at 1:00 p.m. at 10:00 p.m. GMT, at 10:00 p.m. GMT enters Sydney, Tokyo opens at 12:00 a.m. and closes at 9:00 a.m. GMT; To top it off, London opens at 8:00 a.m. and closes at 5:00 p.m. GMT.

This world schedule allows traders and brokers, together with the participation of central banks from all continents, to carry out online operations 24 hours a day.

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Forex market is open for 24 hours a day

The forex market is open 24 hours a day and it is important to know which are the most active trading periods.

For example, if we take a less active period of 5:00 p.m. at 7:00 p.m. EST, after the closing of New York and before opening Tokyo, will also open Sydney but with less activity than the three main sessions (London, United States, Tokyo).

Therefore, less activity means less financial opportunity.

If you want to trade currency pairs like EUR / USD, GBP / USD or USD / CHF, you will find more activity between 8:00 a.m. and 12:00 noon, when both the European and United States markets are active.

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When is the best time to trade Forex?

Other forex trading hours to watch out for include government reports and official economic news.

Governments publish schedules for the exact time these press releases will be released, but they do not coordinate releases between different countries.

It is important to note when the economic indicators are published in different countries since these coincide with the most active moments of forex trading.

This high activity translates into greater opportunities in currency prices, and orders are sometimes executed at different prices than expected.

As a trader you have two options: include the news periods in your forex trading hours, or deliberately suspend all trading activity during these periods.

Whatever your decision, you should be proactive when prices suddenly change during a press release.

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Know the Trading sessions of the Forex market

For traders who trade during the day, the most productive hours are between the opening of the London markets at 08:00 GMT and the close of the United States markets at 22:00 GMT.

The peak time to trade is when the US markets overlap with the London markets, between 1:00 p.m. and 4 p.m. GMT. The main sessions of the day are London, the United States, and the Asian markets.

Below is a summary of the trading sessions that will help you get the most out of the market:

London Session
opens from 08:00 a.m. GMT at 5 p.m. GMT. EUR, GBP, USD are the most active currencies;
US session
opens from 1:00 p.m. GMT at 10:00 p.m. GMT. USD, EUR, GBP, AUD, JPY are the most active currencies;
Asian Session
opens at 10:00 p.m. GMT on Sunday, enter the European trading session at 09:00 AM. GMT; this session is not very suitable for day trading.

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When you can trade on XM platforms?

In XM the trading hours are from Sunday at 22:05 GMT to Friday at 21:50 GMT.

When XM’s exchange desk is closed, the trading platform does not execute trades and only its functions can be observed.

For any request, technical difficulties, or urgent help, do not hesitate to contact XM’s 24-hour customer service, by email or live chat at any time.

In case you don’t have your PC handy, please make sure you have your account login details so that XM’s support team can help you.

To close positions, establish a take profit or stop loss order on an existing position, you will also need to provide XM with your ticket number.

Then all you have to do is request a bidirectional price on a particular currency pair and specify the size of the transaction (for example: “I would like a dollar / Japanese yen quote for 10 lots”).

Please remember that if the password authorization fails, or if you do not want to continue with this process, XM will not be able to follow your instructions.

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Find out more about the Financial Markets, Platforms, and Trading Conditions of XM.