Forex is the world’s most populated trading market. It has been widely used by people who want a side quest. In South Africa, people are using. Many new traders consider Forex because of its flexible trading hours.
This article will focus on explaining Forex trading hours in South Africa.
Forex trading hours in South Africa – Introduction
In South Africa, most Forex traders are relatively new to the market. Hence, they are not aware of the Forex working hours. The forex market is open 24 hours a day. It is closed on the weekends.
New traders should know that even though the Forex market is open 24 hours a day. However, it offers different trading sessions to keep the market open 24/5. The market closes on Friday at 5 pm EST.
Forex trading hours in South Africa depend on the trading sessions’ timings. Let’s review them!
Trading sessions
Forex runs four sessions simultaneously;
- New York session
- Tokyo session
- Sydney session
- London session
Each session is based on the region’s local timing.
Asia trading session
Asia trading session is commonly known as Tokyo trading session. For South African traders, this session is not of much interest. Since South African traders don’t trade in Yen. The Asian session, however, is characterized by Yen trading.
Asian session hours in South Africa range from 1 am to 10 am. The timings are the same all year because Asian countries don’t do the DLS.
Night trading hours for South African traders are not very valuable. However, a handful of traders who do Yen trading find it useful. Night owls can also benefit from trading in the Asian session.
Sydney trading session
Sydney trading session is the least active Forex trading session. There is no active trading currency in the Australian region. Additionally, the timings are not great. Hence, most brokers and traders don’t pay much attention to the Sydney session.
The Sydney session trading hours are from 12 am-midnight to 9 am.
New York trading session
New York trading session is the most anticipated trading session. It is the second most active session. 17% of trades happen in this session. That’s every 1 out of 5 trades.
The New York session opens at 2 pm and closes at 11 pm. USD is the main factor in the US session. Traders who use USD as base currency pair prefer the New York session. However, there are not any major Forex brokerage companies in the USA.
London trading session
London trading session is the most active session In Forex. South African traders prefer this session for several reasons. The major reason is the presence of G10 currencies in the EU. Additionally, the timings are favorable for day traders. Brokers and trading offices open at the same hours as the London session.
London session opens at 9 am and closes at 6 pm.
Trading session hours in South Africa
South African traders can trade 24 hours a day. Except for the weekends, the market is open. However, the recommended trading hours are between 10 am and 5 pm.
Conclusion
Forex trading hours in South Africa are open 24/5. The different sessions offer particular timings and trading features. We recommend our readers to use the London and New York session only. If you are looking for download the latest movies for free, you can download free movies from Tamilmv. And You can also download free movies from PagalMovies
