Forex Market open time in India

The Forex Market is the largest financial market in the world. It allows traders from around the globe to trade foreign currencies such as US Dollars, British Pounds, Japanese Yen, Euro, Swiss Franc, Australian Dollar, Canadian Dollar, New Zealand Dollar, South African Rand, Russian Ruble, Turkish Lira, Mexican Peso, Brazilian Real, Indian Rupee, Chinese Yuan, etc.

You can access the Forex Market through various brokers or trading platforms. There are two types of trading platforms – those that offer direct access to the Forex Market and those that connect you to third-party providers who provide access to the Forex Markets.

 

What time does the forex market open in India?

The Forex Market has a 24-hour trading period. However, it is closed for lunch between 12:00 pm – 1:00 pm (IST) and 6:30 pm – 7:30 pm (IST). This is followed by an overnight break until 9:00 am (IST). Trading resumes at 9:00 am (EST) and closes at 3:30 pm (EST).

The Forex Market is not available on all days. For example, there will be no trading on Saturdays and Sundays. Also, holidays like Christmas Day, Easter Sunday, Good Friday, New Year’s Eve, New Year’s Day, Valentine’s Day, Mother’s Day, Father’s Day, Independence Day, Labor Day, Thanksgiving Day, Black Friday, etc., are considered non-trading days. So if any of these dates fall during your trading day, then there will be no trading.

In addition, the Forex Market in India is closed during the following periods:

• During the month of Ramadan, which lasts from May 5th to June 4th.

• On Fridays, when banks close early due to religious reasons.

• During the month-long national holiday called Dussehra, which takes place every year in September/October.

• On Thursdays and Fridays, when banks close late due to their annual training sessions.

• When the government announces public holidays.

• Whenever there is a state election.

• During elections.

During festive seasons like Diwali, Christmas, Eid, Guru Nanak Jayanti, Kalyan Mahotsav, Makar Sankranti, Republic Day, Raksha Bandhan, Shivratri and others, the Forex Market may also announce some special timings. These timings will vary according to the festival. So always check with your broker before placing trades.

 

When to Trade.

As mentioned earlier, the Forex Market opens for trading 24 hours per day. But, you should note that this doesn’t mean that you can trade whenever you want. In fact, the best times to trade the Forex Market are morning hours (between 8:00 am and 11:00 am IST in conjunction with the Forex Market open time in India), evening hours (between 2:30 pm and 6:30 pm IST), night hours (between 10:00 pm and 2:00 am IST) and weekends (from Monday to Saturday). You should avoid trading during lunch hours because most people spend their free time during this period.

The reason why we suggest trading only certain hours is because the Forex Market is highly volatile and risky. The fluctuations in currency prices are quite high during normal trading hours. Therefore, it is advisable to follow a disciplined strategy and stick to one trading plan throughout the entire trading session. If you decide to switch strategies midstream, you might end up losing money.

Most brokers use quotes based on the London fix, but there are other options too. Based on location, the price quoted could be different than what you see in the paper or online.

A number of factors influence exchange rates such as economic news, political developments and central bank policies. Thus, the movements in the spot rate are unpredictable. As a result, traders need to have a clear idea about the direction they want to go with their trading plans before taking positions.

What Are Currency Pairs?

Now, after you got to know the Forex market open time in India, you need to learn that Currency pairs represent two currencies that are linked together. They are traded against each other just like stocks are traded on stock exchanges. There are plenty of currency pairs offered by foreign Exchange companies like IC Markets, Vantage or LQDFX and many more. Some major currency pairs include GBPUSD, EURJPY, USDCHF, AUDNZD, NZDUSD, CADGBP, CHFJPY, JPYEUR, AUDCAD, USDCAD and USDCHF.