Key takeaways
- The forex week typically runs from about 5 pm ET Sunday to 5 pm ET Friday, passing through four main sessions.
- London is usually the most active session, and the London–New York overlap is often the busiest window of the day.
- Gold tends to be most active during London and New York hours; index CFDs follow their home exchange hours most closely.
- Daylight saving changes in the US, UK and Australia happen on different dates, shifting session times by an hour.
- Always check instrument trading hours in the app, as CFD schedules and holiday hours vary.
01Why Forex Market Hours Span 24 Hours a Day
There is no single exchange for currencies. Forex is an over-the-counter market made up of banks, institutions, brokers and businesses around the world. As the business day ends in one financial centre, it begins in another, so liquidity rolls from Asia-Pacific to Europe to North America and back again.
That continuity is convenient, but activity across forex market hours is uneven. Quiet hours can bring wider spreads and slow, choppy movement; busy hours bring tighter pricing and stronger trends, but also sharper reactions to news. Matching your trading schedule to the right session is one of the simplest improvements a part-time trader can make.
02The four forex trading sessions
Forex market hours are approximate and based on typical local business hours in each centre. The table uses the northern-hemisphere winter (roughly November to March), when the UK is on GMT and New York on Eastern Standard Time.
| Session | GMT (winter) | New York time (ET) | Character |
|---|---|---|---|
| Sydney | 22:00 – 07:00 | 5 pm – 2 am | Quiet start to the week; AUD and NZD active |
| Tokyo | 00:00 – 09:00 | 7 pm – 4 am | JPY pairs and Asian data; often range-bound |
| London | 08:00 – 17:00 | 3 am – 12 pm | Largest share of turnover; EUR, GBP, CHF, gold active |
| New York | 13:00 – 22:00 | 8 am – 5 pm | US data releases; USD pairs, gold, US indices |
During the northern summer, when the UK uses BST and New York uses EDT, London runs about 07:00–16:00 GMT and New York about 12:00–21:00 GMT, while the times in ET stay roughly the same. Asian sessions do not shift in the same way, as Japan does not observe daylight saving.
03Session overlaps: when the market is busiest
Overlaps are the windows when two major centres are open together. More participants usually means more liquidity and larger moves.
- London–New York overlap (about 8 am – 12 pm ET; 13:00–17:00 GMT in winter): often the most active period of the day. Major US data, including payrolls and inflation figures, is usually released at 8:30 am ET, inside this window.
- Tokyo–London overlap (around 08:00–09:00 GMT in winter): short but can spark the first decisive move of the European day.
- Sydney–Tokyo overlap: the busiest period for AUD/JPY and NZD/JPY, though overall liquidity is lower than in Europe.
The quietest stretch is typically the late New York afternoon into the early Asian session. Spreads can widen around the daily rollover near 5 pm ET, which is also when overnight financing is usually calculated; see our guide to spread and swap costs.
Download QTFX Markets on Google Play to follow gold, forex and index quotes through every trading session, with watchlists that show which markets are moving.
Get it on Google Play04Gold, indices and other CFD trading hours
Not every instrument follows the forex clock.
- Gold (XAU/USD): commonly quoted almost 24 hours from Sunday to Friday, usually with a short daily break around the US late afternoon. Activity tends to pick up at the London open and peaks during the London–New York overlap. Our gold trading guide covers this in more depth.
- US index CFDs such as the Dow Jones, Nasdaq 100 and S&P 500: may be quoted outside regular hours, but the main volume comes during the US cash session, 9:30 am – 4 pm ET. Gaps can appear at that open. See our index trading guide.
- European indices such as the DAX: most active during their home exchange hours, roughly 08:00–16:30 GMT in winter.
- US share CFDs: generally tradable only during the underlying exchange's hours.
- Crude oil: near-continuous during the week with a daily break, busiest during US hours.
Exact schedules vary by instrument and can change for public holidays. The quotes screen in QTFX Markets shows which markets are moving, and instrument details in the app are the reliable place to confirm current trading hours.
05Daylight saving time: the hour that catches traders out
Three different daylight saving calendars affect the sessions:
- United States: clocks go forward on the second Sunday in March and back on the first Sunday in November.
- United Kingdom and EU: clocks go forward on the last Sunday in March and back on the last Sunday in October.
- Australia (Sydney): clocks go forward in early October and back in early April, the opposite season.
For a few weeks each spring and autumn, the gap between London and New York is four hours instead of five, so the overlap and US data releases arrive an hour earlier for European traders. If you set pending orders or alarms around a session open, recheck forex market hours during these transition weeks.
06Choosing a session that fits your schedule
The best session is the one you can trade consistently and alertly. Some practical pairings:
| If you are free… | Session to consider | Instruments that fit |
|---|---|---|
| Early morning in the UK | Late Asia into London open | EUR/USD, GBP/USD, gold |
| Lunchtime in the UK / early morning in the US East | London–New York overlap | Gold, USD pairs, US index pre-market |
| Evening in the US | Sydney and Tokyo | AUD/USD, USD/JPY |
| Evening in Asia | London session | EUR/USD, GBP/USD, gold |
Our currency pairs guide explains which pairs move most in each session. Whatever schedule you choose, plan around the economic calendar, because data releases can override normal session behaviour.
07Weekend gaps and holiday trading
When markets close on Friday, news continues. If something significant happens over the weekend, prices can open on Sunday evening at a different level from Friday's close, skipping over stop orders in between. Holiday periods, such as late December, bring thinner liquidity and sometimes erratic moves.
- Reduce size or close positions before weekends if a gap would exceed your risk tolerance.
- Expect wider spreads in the first hour after the Sunday open.
- Treat holiday sessions with extra caution.
CFDs are complex and leveraged; gaps and fast markets can produce losses larger than planned, so only trade money you can afford to lose. Products and trading availability depend on your region. Practising across different sessions on a demo account is a low-cost way to feel how each one behaves.
Questions readers ask
What time does the forex market open on Sunday?
The forex week typically opens around 5 pm New York time on Sunday, which is about 22:00 GMT in the northern winter and 21:00 GMT in the summer, as the Sydney and Wellington centres begin trading. Liquidity is thin in the first hours, so spreads can be wider than usual. Exact CFD opening times can vary by instrument.
What is the best time to trade forex?
Many traders prefer the London session and the London–New York overlap, roughly 8 am to 12 pm ET, because liquidity is usually highest and major US data is released then. However, the best time also depends on the pairs you trade and when you can concentrate. AUD and JPY pairs, for example, are often more active during Asian hours.
When is gold most active during the day?
Gold usually becomes more active at the London open and tends to see its largest moves during the London–New York overlap, particularly around US economic releases such as payrolls and inflation data. Asian hours are often calmer. Activity also rises around central bank announcements and major geopolitical news, whatever the time of day.
Does daylight saving time change forex market hours?
Yes. The US, the UK and EU, and Australia change clocks on different dates, so session times shift by an hour relative to each other for a few weeks each spring and autumn. New York time stays the market's main reference, but traders in other time zones should double-check opening times and data release times during those weeks.
