When does the Forex market open today?
Find out the global trading session times in Egypt and GMT
The Forex market is the world’s largest financial market, with daily trading volumes exceeding several trillion dollars.
One of its key advantages is that it operates 24 hours a day, five days a week, giving traders great flexibility in choosing the right time to execute their trades.
However, knowing the opening and closing times of the Forex market and global trading sessions is essential for selecting the best trading times, improving trade management, and capitalizing on periods of high liquidity and price volatility.
In this guide, you’ll learn about the forex market’s operating hours, the times of the Sydney, Tokyo, London, and New York sessions, as well as the key characteristics of each session.
When does the Forex market open in Greenwich Mean Time (GMT)?
The Forex market is divided into four main sessions covering various global financial centers, namely:
- Sydney session
- Tokyo session
- London session
- New York session
The trading week begins with the opening of the Sydney session on Sunday at exactly 10:00 p.m. Greenwich Mean Time (GMT), and the market operates nonstop for 24 hours as activity shifts between the different sessions, until it closes at the end of the New York session on Friday at 10:00 p.m. GMT.
Saturday and Sunday are weekly holidays for most global financial markets, so trading is suspended until the market reopens on Sunday evening.
Important Notes on Forex Trading Session Times
Several factors may affect the timing of trading sessions, the most important of which are:
- The implementation of daylight saving time and standard time in some countries
- Differences in the timing of time changes from one country to another
- The existence of multiple time zones within some countries
- Some countries’ abolition of daylight saving time
- Differences in the dates when countries switch between daylight saving time and standard time
Therefore, it is always advisable to rely on the trading session schedule provided by your brokerage firm, as most firms notify their clients of any changes to market hours.
When does the Forex market open in Egypt ?
According to local time in Egypt, trading session times are as follows:
Sydney Session
Open: 12:00 a.m.
Close: 9:00 a.m.
Tokyo Session
Open: 2:00 a.m.
Close: 11:00 a.m.
London Session
Open: 10:00 a.m.
Close: 7:00 p.m.
New York Session
Open: 3:00 p.m.
Close: 12:00 a.m.
The forex market closes weekly on Friday at 12:00 a.m. Egypt time, then reopens on Sunday at 12:00 a.m. with the start of the Sydney session.
Differences Between Trading Sessions
1- Sydney Session (Start of the Trading Week)
The Sydney session is the first trading session in the forex market, marking the start of the global trading week after the weekend.
Open: 10:00 GMT
Close: 7:00 GMT
Although it has the lowest trading volume and liquidity compared to the other sessions, it plays an important role in setting the initial market trends, especially following news releases or political and economic events over the weekend.
Key characteristics of this session include:
- Price gaps (Gaps) at market open.
- Relatively low volatility.
- Suitable for traders who prefer calm markets.
- The opportunity to capitalize on the market’s attempts to fill price gaps.
2- Tokyo Session (The Heart of Asian Trading)
The Tokyo session begins at 12:00 a.m. GMT and ends at 9:00 a.m., and it serves as the main hub for trading in Asia.
This session overlaps with the Sydney session from 12:00 a.m. to 7:00 a.m. GMT, leading to relatively higher activity compared to the market open.
Key Features of the Tokyo Session
- Lower volatility compared to the London and New York sessions.
- High activity in Japanese yen and Asian currency pairs.
- Suitable for range-bound trading strategies.
- Use of support and resistance breakout strategies when liquidity increases.
- Lower likelihood of price gaps compared to the Sydney session.
Traders focusing on Japanese yen pairs benefit from higher trading volumes during this period.
3- London Session (Highest Liquidity in the Forex Market)
The London session begins at 7:00 a.m. GMT and continues until 3:00 p.m.
The European session is the most active in the forex market, accounting for approximately 35% of total global trading volume.
Key characteristics of the London session
- A marked increase in liquidity.
- Increased price volatility.
- Narrower spreads.
- Frequent opportunities for price breakouts.
- Strong impact of European economic data.
It also overlaps with the New York session between 12:00 p.m. and 5:00 p.m. GMT, which is the most active period in the forex market throughout the day.
4- New York Session (End of Daily Trading)
The New York session is the last of the daily trading sessions; it begins at 12:00 p.m. GMT and ends at 9:00 p.m. This session is characterized by the following:
- The second-highest liquidity among sessions.
- High activity during the overlap with the London session.
- High volatility due to U.S. economic data.
- Significant price movements during Federal Reserve decisions.
- Multiple opportunities for strategies targeting support and resistance levels.
The Friday session also typically sees additional volatility as investors close or reduce their positions ahead of the weekend, in anticipation of any political or economic developments that could lead to price gaps when the market opens on Sunday.
Overlaps Between Forex Sessions
Session overlaps are considered some of the best times to trade due to high liquidity.
Sydney–Tokyo Overlap
From 12:00 a.m. to 7:00 a.m. (GMT)
Moderate activity and good liquidity.
Tokyo–London Overlap
From 7:00 a.m. to 8:00 a.m. (GMT)
The start of the shift in activity from Asian to European markets.
London–New York Overlap
From 12:00 PM to 5:00 PM (GMT)
Highest trading volume and greatest intraday volatility.
How do you find out when the forex market opens in your country?
The forex market operates on Greenwich Mean Time (GMT), so you can easily determine the session times in your country by adding or subtracting your local time difference.
For example:
Egypt: GMT+2
Saudi Arabia: GMT+3
United Arab Emirates: GMT+4
Most trading platforms, such as MetaTrader, also display session times according to your device’s local time, so it’s advisable to check your time zone settings, taking into account the effect of daylight saving time in some countries.
