While the Forex market operates 24/5 without official opening and closing times, a start and end to the trading week exists. Forex traders decide the best time to trade based on their circumstances, but from a technical perspective, the best Forex market hours in Canada are during the most liquid trading sessions. Read my article to understand the unofficial trading sessions in the four core Forex markets and how they relate to local times, which can lower your trading fees.
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The Best Time to Trade Forex in Canada
The best time to trade Forex in Canada is when the trader decides to trade. Traders will get the most trading opportunities with the lowest trading fees during the crossover sessions of the four core Forex markets I have outlined below.
Forex Market Opening Times in Canada
Rather than official opening and closing times, the Forex market operates 24/5 with a start and end to the trading week. The trading week starts Sunday at 22:00 GMT and runs continuously until Friday at 20:00 GMT. Therefore, the Forex market hours in Canada are from Sunday 18:00 (EDT) to Friday 16:00 (EDT).
The Forex market has four core Forex centers that account for most daily trading volume, market-moving events, and other factors that impact price action.
Sydney Forex Trading Session
Local Time | GMT Time | EDT | |
Open | Monday 08:00 | Sunday 22:00 | Sunday 18:00 |
Close | Monday 16:00 | Monday 06:00 | Monday 02:00 |
Tokyo Forex Trading Session
Local Time | GMT Time | EDT | |
Open | Monday 09:00 | Sunday 24:00 | Sunday 20:00 |
Close | Monday 18:00 | Monday 09:00 | Monday 05:00 |
London Forex Trading Session
Local Time | GMT Time | EDT | |
Open | Monday 08:00 | Monday 07:00 | Monday 03:00 |
Close | Monday 16:00 | Monday 15:00 | Monday 12:00 |
New YorkForex Trading Session
Local Time | GMT Time | EDT | |
Open | Monday 08:00 | Monday 12:00 | Monday 08:00 |
Close | Monday 16:00 | Monday 20:00 | Monday 16:00 |
Overlapping Sessions
When two Forex markets operate simultaneously, an overlapping session occurs, which increases liquidity and often creates more trading opportunities with lower trading fees.
Sydney - Tokyo Overlapping Forex Trading Session
Canada Start Time | Canada End Time | Currency Pairs to Consider |
Sunday 20:00 | Monday 02:00 | AUD/USD, AUD/NZD, NZD/USD, AUD/NZD, AUD/JPY, NZD/JPY, USD/JPY |
Tokyo – London Overlapping Forex Trading Session
Canada Start Time | Canada End Time | Currency Pairs to Consider |
Monday 04:00 | Monday 05:00 | GBP/JPY, EUR/GBP, EUR/USD, EUR/JPY, GBP/CHF, EUR/CHF, CHF/JPY |
London – New York Overlapping Forex Trading Session
Canada Start Time | Canada End Time | Currency Pairs to Consider |
Monday 09:00 | Monday 12:00 | EUR/USD, USD/CHF, USD/JPY |
Significance of Forex Market Opening Times
Forex traders may wonder why some of the Forex market hours in Canada impact liquidity, trading volumes, trading fees, and order execution more than others. During the unofficial Forex market opening times, Forex traders catch up to developments by making portfolio adjustments.
Trading Opportunities in Canada
The best Forex brokers in Canada ensure a well-balanced asset selection to ensure traders can trade their way.
Volatility
Forex volatility creates trading opportunities for traders who know how to exploit it. The unofficial Forex market opening times usually deliver a temporary volatility surge.
News Releases
News releases can impact price action tremendously, and profitable traders use an AI-assisted economic calendar.
Market Analysis
Market analysis is an ongoing task conducted before taking a position and throughout the trade.
Making the Most of Forex Trading Sessions
Traders must ensure their Forex brokers offer a cutting-edge trading infrastructure with a competitive edge.
Besides Forex market hours in Canada, Forex traders should consider the following:
- Execute the best Forex trading strategy for the current market conditions
- Using an economic calendar to avoid volatility spikes
- Executing appropriate risk management
- Never trade for the sake of trading
- Using AI-assisted Forex trading software
Bottom Line
The Forex market operates 24/5 and has no opening and closing bell but a start and end to the trading week. Forex trading starts Sunday at 22:00 GMT and ends Friday at 20:00 GMT, resulting in Forex market hours in Canada from Sunday 18:00 (EDT) to Friday 16:00 (EDT).
