Are forex markets always open?
The forex market in general is open continuously from 11:00 PM Sunday until 11:00 PM Friday, London time, in different parts of the world. Normally, the highest trading activity occurs when London and New York are both open (between 8:00 AM — 12:00 noon EST).
There are four major markets for forex trading in the world: Sydney, Tokyo, London and New York. They are not all always open at the same time, but their opening times overlap.
While you’ll have no problems with liquidity when trading major pairs like the EUR/USD, trading exotic or regional pairs is a different beast. For example, when trading NOK/SEK you’ll find that the most liquid market hours are usually when the respective countries (Norway and Sweden in this case) both have their markets open. When either country is on holiday, expect spreads – the difference between bid and ask prices – to be very wide.
Also, when volatility is expected to be higher, spreads can widen. For example, an election, or a meeting of the US Fed can cause great volatility on the market.