The forex market is the global financial market for buying and selling currencies or forex trading.

The vast majority of currency transactions are conducted on so-called OTC (over-the-counter) markets. Unlike, for example, the trading of stocks on the NYSE, trading currencies on an OTC market is not overseen by a centralized exchange.

Instead, banks act as market makers – offering a bid price to buy, and an ask price to sell a particular currency pair.

When is the market open?

The forex market is open continuously from 11:00 PM Sunday until 11:00 PM Friday, London time, in different parts of the world. The highest trading activity within each day is when the London and New York markets are both open. As there are multiple markets around the globe with overlapping trading hours, forex market hours are almost nonstop, which might be appealing for some traders.

Author of this article

Bence András Rózsa

Author of this article

Bence’s purpose is to help you to understand the logic behind financial services. In his master’s studies, he specialised in business economy and finance to be able to give you a clear picture of the brokerage world. Having reviewed multiple brokers and robo-advisor services, his goal will always be to guide you in the world of investing as it is.

Bence András Rózsa

Broker Analyst

Bence’s purpose is to help you to understand the logic behind financial services. In his master’s studies, he specialised in business economy and finance to be able to give you a clear picture of the brokerage world. Having reviewed multiple brokers and robo-advisor services, his goal will always be to guide you in the world of investing as it is.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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