Forex trading hours: when is the best time to trade FX?

What are the forex market opening hours in Singapore?

Forex market hours run 24-hours a day during the week, but the market is closed on weekends. This continuous trading is only possible because forex is traded all over the world in decentralised venues. 

Forex market hours are broken up into four major trading sessions: Sydney, Tokyo, London and New York. These are the largest trading centres, accounting for nearly 75% of FX daily volume. The market is open from 06:00 SGT on Monday – when the Sydney session starts – to 06:00 SGT on Saturday when the New York session closes for the weekend. These times will vary when regions observe daylight saving time.

At any point in time, there’s always one forex session open although there are periods of downtime when the market is quiet – usually in the morning between 03:00 and 06:00 SGT when New York is winding down before Sydney starts.

City Index’s Singapore forex trading hours

With City Index, you can trade forex 24-hours a day from 06:00 SGT on a Monday morning to 06:00 on a Saturday morning. You’ll have the choice of trading 84 global FX pairs, with spreads from just 0.5 points.

Learn more about FX trading with us or open an account to get started.

Global forex market opening hours

The opening time of the forex market depends on which of the four forex trading sessions you’re interested in. As trading around the clock would be near impossible, forex traders tend to focus their energy on specific sessions or time periods. The forex market opening times are:

It’s important to be aware that forex open and close times will also vary based on the time of year, as countries that shift to and from daylight savings will alter market hours in March, April, October and November.

What are the forex market sessions?

As we’ve seen, there are four forex trading sessions: Sydney, Tokyo, London and New York. Let’s take a closer look at each one.

Sydney forex trading session

The Sydney forex trading session begins at 06:00 SGT and ends at 14:00 SGT. It runs fairly closely to the Tokyo session, providing liquidity and volatility when both markets are open. When the Sydney session is open on its own, the market tends to be quieter.

Perhaps unsurprisingly, Australian currency pairs such as AUD/USD can see the most activity during the Sydney session. Although NZD/USD and Asian pairs – including USD/SGD – are popular too.

Tokyo forex trading session

The Tokyo forex trading session begins at 08:00 SGT and ends at 17:00 SGT. It is generally the third-most active session, as both London and New York see more volume.

Tokyo overlaps with Sydney as it begins and London as it ends, with a quieter period from 14:00 SGT to 16:00 SGT when it is the sole hub open for trading. Forex traders tend to focus on Asian pairs here, such as USD/JPY.

London forex trading session

The London forex trading session begins at 16:00 SGT and ends at 00:00 SGT, providing lots of opportunities for evening traders in Singapore. Alongside New York, it is the most popular FX trading session.

European pairs are popular here, including GBP/USD and EUR/USD – the most-traded currency pair of all.

New York forex trading session

The New York forex trading session begins at 21:00 and ends at 06:00 SGT, running overnight for traders in Singapore. The overlap between NY and London from 21:00 to 00:00 SGT is when the market tends to be at its most liquid and volatile.

The end of the New York session has no overlap, closing right when the Sydney session starts.

When is the best time to trade forex in Singapore?

The best time to trade forex is when the market is most active – this is when you’ll get the narrowest spreads and best chance of executing a trade at your desired levels. The forex market is usually most active when the market hours overlap between sessions, as this is when the number of traders buying and selling each currency increases.

The overlap windows for exchanges are:

• 21:00 to 00:00 (SGT) when both New York and London exchanges are open
• 08:00 to 14:00 (SGT) when both Tokyo and Sydney exchanges are open
• 16:00 to 17:00 (SGT) when both Tokyo and London exchanges are open

The first of these windows, between New York and London, is possibly the most important. These two centres account for over half of all forex trades.

By looking at the average pip movement of the major currency pairs during each forex trading session, we can see that the London session has the most movement.

However, the best time for you to trade forex will depend on which currency pair you’re looking at. As a rule, the most liquidity for each FX pair will occur when the sessions for the pair overlap – if both locations are open at the same time. For example, GBP/USD will experience a higher trading volume when both London and New York sessions are open.

It’s also important to be aware that high trading activity also leads to high volatility. While some traders like the opportunities that volatility can bring, others do not – either way, it’s vital to have a risk management strategy in place.