Foreign Exchange (FOREX) Trading is the buying and selling of international currencies. Because the trading parties can come from every corner of the globe, there are various time differences that need to be taken into consideration when you engage in trading. The first trade market begins in Tokyo, Japan, at 7:00 pm Eastern Standard Time (EST) followed by markets in Singapore and Hong Kong that both open at 9:00 pm EST. The Frankfurt market opens at 2:00 am EST, followed by London at 3:00 am EST, for the European market. By 4:00 am EST, the Asian market has closed and all trading stops in that area of the world. The European market on the other hand is in its busiest time. The market in the United States of America starts in New York at 8:00 am EST. By this time, the European market is coming to a close. The market in Australia comes to life at around 5:00 pm EST, and by 7:00 pm, the Japan market starts up again in Tokyo, completing one trading day. This is why FOREX trading is a round the clock, 24-hours-a-day industry. When looking for companies, or brokers, it is best to be able to look for those who have an international reach and have business hours covering the different time zones. Many companies have business hours starting from 2:30 pm EST on Sunday to 4:30 pm on Friday. The availability of the company is important for you to be able to extend your influence in the markets from Sydney, Tokyo, Hong Kong, Singapore, Moscow, Frankfurt, London, New York and Los Angeles, and trading in currencies such as the Australian dollar, Yen, US dollar, and European Euro. You want to be able to take advantage of the high availability of the market and the always-liquid currencies. |
