The foreign exchange market is open for business every day of the week. It’s one of the few markets that doesn’t close its doors at any time. But what if you are someone who likes to work on your schedule and have a job where you frequently have to travel? The fact that the Forex market is open 24/7 might not be the most convenient option for you.
read also: What does it take to be an effective forex trader?
In this article, we will explore why the Forex market is open 24/7 and provide insights on whether or not that means something negative about this market. Don’t worry! We will also explain why it’s great that the Forex market is open around-the-clock. To help you know exactly what advantages it offers as a trader.
The Forex market is open 24/7
The Forex market is open for business every day of the week, with the option to trade on your schedule. You do have any holiday trading, and you have 24-hour access to global markets too. This market gives a better opportunity for arbitrage trades as well.
read also: should you trade forex or stock?
Your work schedule might not always match up with the Forex market, which means the Forex market might not be the best option for you. You should know that the market is open, Monday through Friday from 5.30 am to 4 pm ET. This means if you are someone who works 12-hour days and travels frequently, then the Forex market might not be available to you during those hours.
read also: how can you take advantage of the size of the foreign exchange market?
However, there’s a whole world of opportunity outside of those hours as well! For instance, if you normally work 8-hour daily, that leaves another 16 hours in which the Forex market is accessible to you each day. This could be an advantageous time for you. And it is because most people are winding down on their workday and getting ready to head home by then. It’s also a time when other people have more time and energy to spend on trading too.
You can trade anytime, anywhere, and from any location
One of the most obvious benefits of trading in the Forex market is that you can trade anytime, anywhere, and from any location. You could be sitting on a plane, and if you have access to an internet connection or WiFi, you’re able to trade. You don’t need to be at your desk to trade while away from home.
read also: Learn the basics of Forex and how to trade successfully
Trading in the Forex market is also great for when you travel because it’s one of the few markets that never closes its doors. The Forex market is open 24/7 means that traders are always able to access their accounts, regardless of whether they are traveling or what time it is.
Programmed trading is available at all times
One of the reasons why the Forex market is open 24/7 and open on weekends too is because of programmed trading. The Forex market doesn’t close on any day, including weekends and holidays. This is because many traders work for banks and other financial institutions that trade around the clock with programmed trading.
read also: Forex Trading Robots that will make you rich
Programmed trading allows traders to use their time as they see fit. And not have to worry about missing a little bit of time at work so that they can go into the office to trade. Despite being open 24/7, there are still plenty of people working in banks looking over trades to make sure everything is running smoothly. This means you don’t necessarily have to worry about not being able to trade at all times.
Markets are constantly competing to offer the best prices
The Forex market is open 24/7 because it wants to offer traders the best prices. The more time a trader has access to the market, the higher their chances of getting a good deal on currencies. And since the market never closes, there are increased opportunities for you to purchase currency at a good price. The idea of markets always wanting to sell at the best price is a well-known economic principle known as competition theory.
read also: before you buy and sell Forex, read this
The Forex market is one of the few markets that doesn’t adhere to this theory and instead offers its prices around the clock. This means that when you are looking to trade, you can make an offer at any time of day or night, and have that offer compete with other offers from other traders to get your desired price. Essentially, this means more trading opportunities for you and better deals on currencies for you.
Conclusion
The Forex market is open for business every day of the week. It’s one of the few markets that doesn’t close at any time. We explored why the Forex market is open 24/7 and provide insights on whether or not that means something negative about this market. We are hoping these insights helped you.
