What Time Does The Forex Market Open In South Africa?
What Is The Forex Market?
A global decentralized or over-the-counter (OTC) market for the trading of currencies is known as the foreign exchange market (Forex, FX, or currency market). For every currency, exchange rates are set by this market. It covers all facets of purchasing, selling, and exchanging currencies at established or current rates. It is by far the biggest market in the world in terms of trade volume, followed by the credit market.
What Time Does The Forex Market Open In South Africa?
Four primary Forex avenues exist globally: These are New York, London, Tokyo, and Sydney. Owing to their locations, they’ve indirectly turned the forex market into a 24-hour market. In South Africa, Forex can be traded at all times, 24 hours for the 5 working days, causing it to become an over-the-counter (OTC) market. There is no central hub or agency for forex exchange; Forex is usually traded via banks, brokers, and middlemen. The key to good trading on the forex market is an understanding of the most ideal trading periods and tactics.
The Hours Allocated
Hours allocated to trading are the periods wherein you can open and close stances and make currency exchanges. These hours in South Africa are within 9AM and 5PM. Therefore, the Johannesburg Stock Exchange is available for business every weekday from 9AM to 5PM (GMT +02:00). The trading hours are strictly adhered to and the South African Stock exchange does not operate outside the confines of these hours.
In South African time, the following are the various global trading sessions
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Ideal Trading Periods
The most ideal trading periods are identified using three markets as markers
What Is Liquidity?
Liquidity is used to describe how lively a forex market is and essentially how many traders are conducting trades at the moment. The forex market is referred to as very liquid because trading goes on every moment in the 24/5 time frame.In South Africa, midday thereabouts is noted to have the lowest liquidity, the notable time period for recording the majority of trades is early in the morning and the close of day. The setup which ensures shorter trading windows has a long run effect of increasing liquidity
