If you are new to forex trading, then you might be wondering about a number of things, such as what time does forex market close around the world? There is much to know in order to get the best results that you can from your trades and be able to turn a reliable and consistent profit.
Forex trading deals with buying and selling foreign currencies for profit. You always deal in pairs of currencies and usually you will be buying and selling the eight top currencies, which include: the Japanese yen, the British pound, Swiss francs, US, Australian, Canadian and New Zealand dollars and the euro.
It is important that you know what time the markets around the globe open and close in order to maximize your profits and minimize the chances of losses. You can trade at any time of the day from Sunday night, when the Aussie market opens, through Friday night when the New York market comes to a close.
What time does forex market close, is a two fold answer. On the one hand you can find forex markets open at any point during the day between the aforementioned times between Sydney and New York. However, the markets in each country generally open at 8am and close at 4pm in the time zone of the respective market.
If you trade when one of the big three markets is open and operational, then you are likely to get the highest gains as this is when there is the most action between the exchange rates of the currencies. The big three are the New York, Tokyo and London markets.
If you are unsure about what times these markets are open in relation to the specific time zone that you live in, then you can find time converters online to help you out. They can help you work out when different markets are open or closed at any point in time.
It is important to try and make trades when the biggest markets are operational, but you can get even better results if there is more than one market open at a time. A timing converter can give you this information as well and make getting bigger and better profits more regularly for you. Knowing the ins and outs of the forex trading business means that you will have a more reliable result for your trades and knowing what time does the forex market close at any given time is a vital part of that.