Before you read on: this article is general education, not financial advice. It does not consider your objectives, finances or experience. Do your own research, check any broker on the register of its regulator, and speak to an independent adviser if you are unsure.
Last updated 29 October 2026.
Are forex markets open 24 hours a day?
No. The forex market is open 24 hours a day from Sunday evening to Friday evening, but it is not open 24 hours a day, seven days a week. For retail traders, that means roughly 24 hours a day, five days a week.
The weekly schedule
Most brokers follow the same weekly cycle. Trading opens on Sunday evening, New York time (around 5 pm), when the Sydney session starts, and closes on Friday evening, New York time (around 5 pm), after the New York session ends. Over the weekend, there is no trading, so prices can change sharply when the market reopens.
The exact times are given in GMT and shift by an hour when the UK and US change between summer and winter time, so check your broker’s server time before you trade around the open or close.
The four trading sessions
Because the market is global, trading moves from one region to the next. The approximate times below are in GMT and change with daylight saving.
Sydney: about 22:00 to 07:00 GMT. Usually the quietest session, with lower volume.
Tokyo: about 00:00 to 09:00 GMT. Yen pairs often move most in this window.
London: about 08:00 to 17:00 GMT. The largest session by volume, and the one where many European pairs move most.
New York: about 13:00 to 22:00 GMT. Volume is high, and US economic data is often released in this window.
The London and New York sessions overlap for about four hours, from roughly 13:00 to 17:00 GMT. This overlap usually has the highest volume and the largest intraday moves.
Worked example: a weekend gap
Suppose you hold a long position in EUR/USD at Friday’s close, at 1.0850, with a stop-loss at 1.0800. Over the weekend, news breaks that hits the euro. When the market reopens on Sunday evening, the first price is 1.0760. Your stop-loss at 1.0800 is skipped, and the position closes near 1.0760. The loss is 90 pips, not the 50 pips you planned. That is a gap, and it is one reason many traders reduce or close positions before the weekend.
Why this matters for risk
Holding positions over the weekend exposes you to gaps, and holding overnight may add swap charges. Some traders close positions on Friday to avoid this risk. Others accept it but size positions smaller. Either way, decide before the weekend, not after the market opens.
Holidays
Some markets close on major public holidays such as Christmas Day and New Year’s Day, and liquidity can be thin around them. Check your broker’s holiday calendar.
Key takeaways
Retail forex trades roughly 24 hours a day, five days a week. The London and New York overlap usually has the most activity. Weekend gaps are a real risk, and stop-losses do not always fill at the price you set.
Sources and further reading
We checked the regulatory claims in this article against the following primary sources. Rules change, so check the current version before you rely on any figure.
ESMA press release, 27 March 2018 (leverage caps, 50% close-out and negative balance protection for EU retail CFD clients, and the 74-89% loss statistic).
FCA statement on the ESMA measures (the UK position).
FCA policy statement PS19/18 (permanent UK restrictions on retail CFDs).
Pip and lot definitions are market conventions rather than regulatory rules. Check the contract specification for each instrument with your broker.
Risk warning: trading forex and CFDs involves a high risk of loss, and most retail accounts lose money. This article is general education, not financial advice. Read our disclaimer.
Session overlaps and volatility
The London and New York overlap, from roughly 13:00 to 17:00 GMT, usually has the highest volume. Major pairs such as EUR/USD and GBP/USD often move most during this window. The Tokyo session can be busier for yen pairs, and the Sydney session can be quiet for most majors.
Traders use this pattern in different ways. Some trade only the London open, some trade the overlap, and some avoid the quiet hours entirely because spreads are wider when fewer participants are active.
How economic news affects the weekly cycle
Scheduled releases such as central-bank decisions, inflation reports and employment data can move prices sharply. Many of them are published at fixed times during the week. Before the weekend, traders check the economic calendar for releases due on Monday morning, because the market can gap at the open.
Practical checklist for trading hours
Check the server time. Your broker’s server time may not match your local time, so confirm the time before trading around the open or close.
Check the holiday calendar. Liquidity can be thin on public holidays, and some markets may be closed or have shortened hours.
Decide your weekend policy. Decide in advance whether you will hold positions over the weekend, and how much you will risk if you do.
Watch spreads. Spreads widen at the open, at the close and around news. A trade that looks profitable on the chart may not be after the spread.
Why the weekend matters for stop-losses
A stop-loss is an instruction to close a position at a set price, but it is not a guarantee. If the market opens well below your stop, the order fills at the first available price. That price can be much worse than your stop. This is why position size should account for the possibility of a gap, not only the distance to the stop.
Further reading
Our other beginner guides explain pips, leverage, stop-losses and risk management in more detail. Read them alongside this article before you trade.
Holiday and rollover considerations
Holidays change the trading day. Some public holidays close major exchanges and reduce liquidity in related markets, and brokers sometimes change their trading hours or spreads around them. Check your broker’s holiday notice before a long weekend.
Overnight positions also incur swap charges, which are the cost of holding a currency position past the daily rollover time. Swaps can be positive or negative depending on the interest-rate difference between the two currencies. Include swaps in your planning, especially for trades you expect to hold for several days.
A note on time zones
Brokers often display times in server time, which is commonly GMT+2 or GMT+3 depending on the season. Economic calendars may use GMT, New York time or your local time. Convert every release time to one zone before you plan a trade, and write the conversion down.
Common questions about trading hours
Can I place an order on Saturday? You can usually place an order on a platform, but it will not execute until the market reopens on Sunday evening. Orders placed over the weekend can fill at prices very different from Friday’s close.
Does the market open late on Sunday? The first trades of the week often happen at thin volume, so spreads may be wide for the first hour. Many traders wait for the Sydney and Tokyo sessions to settle before entering.
Why do brokers differ slightly? Each broker sets its own server time, rollover time and holiday calendar. Small differences can change the exact moment a trade is closed for swaps, so check the terms of your own account.
Is there any time when trading is unsafe? Trading around major scheduled releases, during thin liquidity and during market stress can all be risky. Lower position size or stay out of the market during those periods.
