Forex Market Hours and Daily Volume Explained

Quick answer: The forex market is open 24 hours a day from Sunday evening to Friday evening New York time (around 23:00 on Sunday to 23:00 on Friday in Germany in most weeks), across four sessions: Sydney, Tokyo, London and New York. The busiest window is the London and New York overlap, usually four hours but five hours during the weeks when Europe and the US change their clocks on different dates. The BIS reports that about $9.6 trillion a day is traded. Check live session times in your own time zone with the forex session converter.

Key takeaways

• Forex has no single opening bell. It opens in Sydney on Sunday evening (New York time) and closes in New York on Friday evening.
• Session times shift with daylight saving time, and the US and Europe do not change clocks on the same dates. That creates mismatch weeks every spring and autumn.
• Roughly $9.6 trillion trades per day (BIS, April 2025), and about three-quarters of it is booked in just four financial centers.
• Liquidity and spreads vary through the day, so your trading hours should fit your strategy.
• Gold and index CFD hours are set by your broker, not by the forex market itself.

When Is the Forex Market Open?

Forex is an over-the-counter market, so it has no central exchange and no single opening bell. Trading follows the business day around the world, which is why it runs around the clock on weekdays. A common convention (brokers differ slightly) is that the trading week opens on Sunday at 17:00 New York time, when Sydney's Monday morning begins, and closes on Friday at 17:00 New York time.

In Germany that means the market usually opens at 23:00 on Sunday and closes at 23:00 on Friday. In a few mismatch weeks each year it opens an hour earlier, at 22:00, for reasons explained in the daylight saving section below.

The Four Sessions (and How They Are Defined)

Session times are conventions, not official opening hours, so every website draws them slightly differently. To keep the tables in this guide verifiable, I define each session by the local business day of its financial center and let the time zone database handle daylight saving:

Two sessions are open at the same time for part of the day. The Tokyo and London sessions barely overlap, but the London and New York overlap is the busiest period, with liquidity usually highest and spreads often tightest (see our forex spread guide for why).

Session Times in Germany by Season

The table shows each session in Berlin time, with UTC in brackets. Notice that the London session stays at 09:00 to 18:00 in Berlin all year, because Germany and the UK change clocks on the same dates. The New York session, however, moves by an hour depending on the US clock change. Times were calculated with the IANA time zone database for a sample weekday in each period.

If you trade the Asia session from Germany, the Tokyo session runs from about 01:00 to 10:00 Berlin time (02:00 to 11:00 in summer), because Japan does not use daylight saving. Sydney's session shifts because Australia moves its clocks in October and April, which is the opposite season to Europe.

The London and New York Overlap in Your Time Zone

For a normal winter week (both regions on standard time) the overlap is 13:00 to 17:00 UTC. Here it is in other time zones:

Time zones with daylight saving shift by an hour when their clocks change, so use the forex session converter, which shows session times, time zone conversions, countdowns and overlaps for your location, instead of relying on a static table. It is free and works in your browser.

The DST Mismatch Calendar for 2026 and 2027

This is the detail most traders miss. The EU and UK end summer time on the last Sunday of October and start it on the last Sunday of March. The US ends it on the first Sunday of November and starts it on the second Sunday of March. In 2026 the dates are October 25 (Europe) and November 1 (US), which leaves a one-week window when the New York to London gap is four hours instead of the usual five (see this 2026 daylight saving time guide for the official dates).

The weekly open moves too. If the market opens at Sunday 17:00 New York time, here is when that is in Berlin:

The practical lessons: (1) alarms and algorithms set to a fixed local clock time can be an hour off during these weeks; (2) the overlap is longer than usual, so volatility can arrive earlier in your day; and (3) US economic releases, which follow New York time, land an hour earlier on your clock. Write the mismatch weeks in your calendar twice a year. The dates above follow the standard rules and 2026 official dates, but always confirm the clock changes in your own country.

How Much Money Is Traded in Forex Every Day?

According to the Bank for International Settlements (BIS), global FX trading reached $9.6 trillion per day in April 2025, up 28% from 2022 (see the BIS Triennial Survey announcement). This is the most comprehensive survey of the market, and it is published every three years, so these are the latest figures. Key numbers from the same release:

A few ways to read these numbers sensibly:

• Averages hide the shape of the day. $9.6 trillion spread evenly over 24 hours would be about $400 billion an hour, but trading is far from even. It is much heavier when London and New York are both open.
• Most volume is not "spot". The headline includes swaps and forwards used by banks and companies. Spot, the product retail brokers mirror, is about 31% of the total, which is still around $3 trillion a day.
• Big volume does not guarantee a good fill. Liquidity is deepest at the top of the market, and your spread, slippage and broker execution decide what you actually get.

Where the Money Trades (and What It Means for Sessions)

The BIS also shows how concentrated the market is. In April 2025, sales desks in the United Kingdom, the United States, Singapore and Hong Kong SAR together accounted for 75% of FX trading, and the United Kingdom alone handled 38% (figures from the same BIS announcement). That leaves about 37% for the US, Singapore and Hong Kong combined.

What this suggests for traders (as a reasoning aid, not a rule):

• London hours carry the biggest share of activity, which is why EUR and GBP pairs often move most during the European morning.
• The London and New York overlap combines the largest centers, which is why many scalpers favor it (see our scalping guide for the cost math).
• Singapore and Hong Kong sit in the Asian session, so Asian hours are not empty, but they usually have less depth for non-Asian pairs.

How to Choose Your Trading Hours

1. Match the session to the pair. Trade EUR and GBP pairs when London is open, JPY and AUD pairs during Asia, and USD pairs around the New York session.
2. Match the session to your strategy. A scalper needs tight spreads and liquidity. A swing trader can work from the daily chart and check twice a day (see our swing trading guide).
3. Avoid the awkward moments. Spreads often widen around the daily rollover, the weekly open and major news. Our price action guide explains why a widening spread can distort signals.
4. Be consistent. Pick a window you can trade with a clear head, instead of drifting into trades at 3 am.
5. Record the session in your journal. After 50 to 100 trades, group your results by session to see where you really perform best. The trading journal calendar is a quick place to log them.
6. Get context before you trade. The forex market analysis tool is a useful starting point, and you can size each trade with the forex position size calculator.

If you are brand new, start with our forex for beginners guide.

Gold, Indices and Other CFD Hours

Gold (XAU/USD), indices such as the US30 and other CFDs follow your broker's trading hours, not the forex market's. Many brokers offer near-continuous weekday trading with a short daily break and a weekend close, and some indices have different hours or a pause around cash market hours. Hours also change around holidays. Always check the contract specification and trading schedule on your own broker's platform before you plan a trade, especially for time-critical strategies.

Likewise, spot forex generally remains open on most public holidays, but liquidity can thin out and spreads can widen, and some brokers adjust their hours or margin rules.

7 Market Hours Mistakes

1. Using one fixed time zone all year. Daylight saving moves the New York session by an hour for your clock.
2. Forgetting the mismatch weeks. The US and Europe change on different dates.
3. Trading the weekly open. Spreads can be wide and gaps are possible when liquidity returns.
4. Trading in quiet hours with a tight-stop strategy. A wider spread can swallow a small target.
5. Holding through the daily rollover without checking swap and spread. Costs can change.
6. Assuming gold and indices follow forex hours. Check your broker's schedule.
7. Not logging the session. Without records you cannot learn which hours suit you.

Frequently Asked Questions

How much money is traded in forex daily?

The BIS reports average daily FX turnover of about $9.6 trillion in April 2025, up 28% from 2022. Most of that is FX swaps and forwards. Spot FX is about 31%, or roughly $3 trillion a day.

What are the forex market hours?

The market runs 24 hours a day on weekdays, from Sunday evening to Friday evening New York time. It opens around Sunday 17:00 New York time and closes around Friday 17:00 New York time, though broker hours can differ slightly.

What time does the forex market open on Sunday in Germany?

Usually at 23:00 Berlin time. In the mismatch weeks (October 25 to 31, 2026 and March 14 to 27, 2027) the open is one hour earlier, at 22:00, because the US and Europe are on different clock settings.

What are the Asia session times in Germany?

Using the convention in this guide, the Tokyo session runs about 01:00 to 10:00 Berlin time in winter and 02:00 to 11:00 in summer. The Sydney session starts earlier, around 22:00 or 00:00 depending on the season.

What is the best time to trade forex?

It depends on your pair and strategy. Many traders favor the London and New York overlap because liquidity is usually highest and spreads are often tighter, but the best time is the one you can trade consistently and that suits your plan.

Why does the overlap sometimes last five hours instead of four?

Because the US and Europe change clocks on different dates. During the mismatch weeks, New York's morning session starts an hour earlier in UTC while London's does not, so the overlap grows from four hours to five.

Is forex open on holidays?

Spot forex usually keeps trading on most public holidays, but liquidity can be thinner, spreads wider and some brokers change hours or margin rules. Check your broker's holiday schedule.

What are US30 trading hours?

US30 CFD hours are set by your broker and can differ from the cash market. Many brokers offer long weekday sessions with a short daily break. Check the trading schedule on your own platform.

Conclusion

Market hours look simple until you add daylight saving, mismatch weeks and different broker schedules. Learn the four sessions, put the October and March clock changes in your calendar, and treat the BIS volume data as context, not a trading signal. Open the forex session converter to see the live sessions in your own time zone, and explore the rest of the free forex trading tools.

See Forex Sessions in Your Time Zone, Free

Risk disclaimer: This article is for educational purposes only and is not financial advice. Session times are conventions, are calculated with the IANA time zone database for sample dates, and can differ by broker; always confirm hours and clock-change dates in your own country and on your own platform. Leveraged trading is high risk and you can lose some or all of your money; the CFTC warns that margin trading can leave you responsible for losses greater than your deposit (see the CFTC forex advisory). Only trade with money you can afford to lose.

Last updated: October 20, 2026
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