The forex trading sessions

The forex market is open 24 hours a day, five days a week, because trading passes from one financial centre to the next as the world turns. The day is usually split into four sessions: Sydney, Tokyo, London and New York.

Why the market never sleeps on weekdays

There is no central exchange with fixed opening hours. Instead, banks in different time zones start and finish their working days in turn. The week opens on Sunday evening (UK time) when Sydney starts Monday morning, and closes on Friday evening when New York finishes. Most brokers pause trading over the weekend.

The four main sessions

The times below are approximate, shown in UK time (GMT), and shift by an hour when daylight saving starts or ends in each region.

London is typically the busiest single session, as it is a major hub for currency trading.

Overlaps: when activity peaks

When two sessions are open at the same time, more traders are active, so liquidity is usually higher and spreads can be tighter. The two notable overlaps are:

• London and New York (roughly 13:00 - 17:00 GMT) - often the most active period of the day, especially for EUR/USD and GBP/USD.
• Sydney and Tokyo (roughly 00:00 - 07:00 GMT) - livelier for Asia-Pacific currencies.

Quieter times

Activity often dips in the gap after New York closes and before Tokyo gets going, as well as around public holidays. Lower liquidity can mean wider spreads and occasional erratic moves.

Key takeaways

• Forex runs 24 hours a day from Sunday evening to Friday evening (UK time).
• The main sessions are Sydney, Tokyo, London and New York.
• Session overlaps, especially London and New York, tend to be the busiest.
• Session times shift with daylight saving, so check current hours.