When are the best Forex Trading Hours?
When it comes to marketing trading, most individuals typically think of stocks, mutual funds and possibly metals or other commodities. However, this trading list is incomplete without the including of currency trading. With different markets all over the world, it is possible to trade one currency with another. If you believe a particular market is going to rise or crash in the near future it is possible to make a healthy living off currency investing. There are several ways to trade currency, many of which are online. One of the leading currency exchange websites is Forex.com and part of the challenge with Forex, is finding the best Forex trading hours.
Forex Trading Hours: Basics
Before you can being trading currency on Forex.com you need to make an account. Open your Internet browser and navigate to the Forex.com website. Select “Open an Account,” followed by “Start Application.” This loads a new page onto your screen, with a aeries of personal information you need to include, ranging from your name, email address, desired user ID and password, financial history and a banking account routing number. This allows you to transfer money into the account in order to purchase foreign currency with. Review your input information, then accept the terms of agreement and click “Submit.” Once your information is confirmed and approved you are ready to begin trading with Forex.com.
Forex Trading Hours: Process
Log onto your account to access the trading platform and your funds. It is possible to trade currency at all points during the day, but not all currency trades at the same time, as the market times for different countries varies. The Forex Trading Hours for New York begins at 8:00 AM eastern standard time and ends at 5:00 PM eastern standard time (all trading times are listed in EDT). The Sydney markets open at 5:00 PM and last until 2:00 AM. The Tokyo Forex trading hours begin at 7:00 PM and end at 4:00 AM. Finally, the London markets begin currency trading at 3:00 AM and end at 12:00 noon. These are the four main market places for currency trading, however there are hundreds of other currency markets you may be interested in. The Forex Trading Hours link on the Forex.com website displays all currency trading times.
Once you know the time of the market you must log onto your account during the desired currency’s Forex trading hours. Once logged on, select the currency you wish to trade and either the amount of your current currency you wish to trade with, or the amount of currency you want to obtain. Confirm the trade information and submit your trade request. Once the trade information is processed you receive a confirmation stating all the trade details, including the two currencies involved in the trade and the current market price for both traded currencies. From here you are able to transfer the new currency into a bank account, although you may need a bank located in the foreign country you just traded with, as most U.S. or U.K banks only accept the local currency, or possibly a major world currency, such as the euro or yen. So being aware of the Forex trading hours will help you find the best time to trade.