Trading in the foreign exchange market is available 24 hours. But the currency rates do not change. This means you can buy and sell at any time you want but the value of the currencies is not going to change. Usually, each country’s session runs from 9 AM to 5 PM. So it’s always best to use a Forex time zone converter.
The platform you use to trade should offer a time zone converter to see which currency sessions are currently on and off. For example, if your time zone is GMT, the Asian session is going to start at 11 PM and run through 8 AM. The time zones are going to change depending on where you trade so it is always best to check a Forex time zone converter.
Assuming you’re trading in the U.S, When it’s midnight, most European Forex market centers are going to be open. During the day, you will only be able to trade in South American and North American Forex market centers mostly.
Same as the stock market, you still can buy currencies when the market is closed. However, this all comes down to your brokerage. While many brokerage firms allow buying and selling, some may not. This is one of the key points when you open a Forex trading account.
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How to use time zone converters in Forex?
If your trading platform doesn’t offer such a service, there are many third-party applications you can use to convert time. As long as you know which markets are closed or open, you can trade efficiently. Therefore, even if where you trade doesn’t have an option like this, you can cope by knowing the open markets.
Since most Forex markets if not all are open from 9 to 5, using a simple world clock can get the job done as well. Once you gain more experience as a Forex trader, you won’t even need a time zone converter. Especially if you trade at the same place for years.
But this isn’t a luxury all trader gets. Check the Forex time zone converter here if you need additional support.