Forex is a global trading market. You know that. You must be aware that the forex market is the only market open 24 hours/day and seven days a week. It is true but doesn’t think it continues its trading activities the whole day without closing it.
For forex traders, it is very important to know trading timings. Many of you are curious to know when does forex market close on Friday?
Let me make it easy for you to understand!
Commonly, the forex market closes at 5 pm EST. The forex market generally remains open for all trading activities 24 hours. For retail traders, it will be closed on Friday between 4 pm to 5 pm. Closing time in different sessions is Tokyo: 6 pm, London:5 pm, New York:5 pm, and Sydney: 4 pm.
The time will be changed according to different trading locations. So, it’s essential to know your area trading time and GST timing.
You can profit only if you place orders during working hours and the market is moving high. As the market closes, your trading position is also closed. So, try to finish your trading activity before closing time.
Let’s take a deep look to understand it more closely!
When Does Forex Market Close On Friday In South Africa
Forex trading covers a massive area of the trading world. A big part of trades takes place in the forex market. The most appealing feature is its involvement in the area or location from where you start trading.
Unlike other trading platforms, where trades take place physically, the forex market is spread out widely through the internet, and all the trades are done online. While trading with forex, it’s essential to have complete knowledge about the opening and closing times of the forex market.
If your trading location is in South Africa, you must know that the timing of this region is different from others.
If a trading session in the UK closes at 17:00, you must stop trading in South Africa at 23:00. The opening and closing times will change with the time of the year. For example, between March and November, the closing time is 23:00, and between October and March, it will be 00:00. The reason is that the forex market works 24 hours/day and seven days a week in many locations.
When Does Forex Market Close On Friday In the US
The US trading market is one of the biggest trading markets, and most trading sessions trade here. In the above-mentioned points, we have repeatedly discussed that the forex market provides trading services 24 hours and seven days a week. Retail traders and dealers can’t take advantage of this opportunity. It is only for full-time traders.
If we talk about the forex market closing time in the US, it closes at 5 pm on Friday. The time according to EST. Here trades remain activated all week. Central banks and other trading firms help traders to do trading activities these days.
The time difference between a trading market’s opening and closing time is called Gap. That’s why both time periods have different prices.
Many traders want to hide their trading position to avoid risk. So, they close trading activities on Friday evening. In this way, they can also prevent gaps in this time period. When you start trading again on Sunday, your position will be changed.
When Does Forex Market Close On Friday In Nigeria,
The most famous globally organized trading market is no doubt the Forex market. It deals with currency pairs and uses them in different trades. Trading hours play an essential role while trading successfully.
All trading activities in the forex market take place with the help of the internet. The most beneficial factor is that it provides trading hours and time according to your trading session. As the session in South Africa, the forex market works 24 hours a day. Nigeria starts trading time at 11:00 pm on Sunday and closes at 10 pm on Friday.
It is often seen that the closing time at one place is the opening time of another session. It is because of the time difference between different countries. That’s why the forex market is considered the best market that is open 24 hours for traders to place trading orders.
For successful traders, it is essential to focus on opening and closing times. This is the only way to place their trades in time and continue their trading activities.
Table Of Closing Timing Of Forex In Different Sessions,
The opening and closing time of the forex market depends on the session from where you start trading? In some places, it may be the same, but in many regions, it is different because of the time difference between those areas. It is also different on different days of the week.
Here is a table that will help you understand the forex closing time on Friday.
The table that shows forex closing time:
|Countries/Sessions||Closing Time(Local)||Closing Time(EST)||Closing Time(UTC)|
|Sydney||4:00 pm||1:00 AM||6:00 AM|
|Tokyo||6:00 pm||4:00 AM||9:00 AM|
|London||5:00 pm||11:00 AM||4:00 pm|
|New York||5:00 pm||5:00 pm||10:00 pm|
What time does the forex market close on Friday?
The forex market in the UK closes at 5 pm EST. However, the market is closed only for retail traders. Central banks and other organizations keep the market open throughout the weekend.
Is the forex market closed on Good Friday?
Good Friday is a kind of religious holiday celebrated by Christians and comes before easter. That’s why currency and commodities are closed on Friday.
What time does the forex market close in South Africa?
In the summertime, most northern hemisphere and US areas close at 17:00 EDT, and 23:00 in south Africa. So the forex market closes there between March and November.
Finally, we have reached the edge of our exciting journey of trading with forex. Time in trading is a crucial part of success. Each trader must be aware of its importance, and he must know the opening and closing hours.
From the above discussion, it is clear that before starting trading, a trader must select his location and follow the trading rules of that area. Each session has different timing so check the timetable and note opening and closing times.
Generally, the forex market closes at 5 pm EST on Friday. It closes only for dealers. Otherwise, it will be open 24 hours for traders.