Forex is the most popular mobile trading market in South Africa. Due to several reasons, we have noticed a large influx of traders in the Forex market. The most basic questions new traders ask are about the timings of the Forex market.
Many new traders are under the impression that Forex is a 24/7 case. Because quite frankly, this is how it is marketed. However, that is not the case; Forex is a 24/5 trading market.
Many traders are confused about the Forex market’s timings on Friday. This article will answer the question,” what time does the forex market close on Friday in South Africa?”
What time does the forex market close on Friday in South Africa? – Trading hours
The forex market is open 24 hours a day and five days a week. It is done smartly. Stock markets are kept open during office hours in a specific region. However, Forex has combined and integrated its international sessions and opened them for everyone.
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There are four sessions in Forex trading that open and close at different times.
- New York session
- Tokyo session
- London session
- Sydney session
All these sessions close at their respective times. Forex trading session in each different session closes around 5 pm Friday and opens on Sunday 5 pm. These timings make Forex a 24/5 market. But, exactly at what time does the forex market close on Friday in South Africa?
Timings of different sessions on Friday
Let’s see what the particular timings of Forex trading sessions on Friday are.
New York timings
The New York session is popular. The opening and closing timings are as follows;
| Session | EST (summer) | EMT (winter) | GMT (summer) | GMT (winter) | SAST (summer) | SAST
(winter) |
| Open | 8 | 9 | 12 | 13 | 14 | 15 |
| Close | 17 | 18 | 21 | 22 | 23 | 24 |
So, our readers can see that the Forex market closes at 11 pm in South Africa in the summers. In winter Forex market closes at midnight. Note that these timings are specific for the New York session.
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London timings
London session is the most actively used session in Forex trading. It operates on the following timings;
| Session | EST (summer) | EMT (winter) | GMT (summer) | GMT (winter) | SAST (summer) | SAST
(winter) |
| Open | 3 | 4 | 7 | 8 | 9 | 10 |
| Close | 12 | 13 | 16 | 17 | 18 | 20 |
Based on the chart added above, you can tell that Forex Market closes at 6 pm in the summers. In winters, the Forex market closes at 8 pm for locals, according to London open.
Tokyo timings
Asian open is a very popular session for Asian traders.
| Session | EST (summer) | EMT (winter) | GMT (summer) | GMT (winter) | SAST (summer) | SAST
(winter) |
| Open | 19 | 19 | 23 | 23 | 1 | 1 |
| Close | 4 | 4 | 8 | 8 | 10 | 10 |
The most noticeable difference in terms of timings for Asian open is similar timings throughout the year. There is no DLS (daylight savings) in Asian countries. Hence, the Forex market operates at on same hours. Translating the Asian timings into SAST, the market closes at 10 pm for South African traders.
Sydney timings
Sydney timings don’t get much attention;
| Session | EST (summer) | EMT (winter) | GMT (summer) | GMT (winter) | SAST (summer) | SAST
(winter) |
| Open | 18 | 17 | 22 | 21 | 00 | 23 |
| Close | 3 | 2 | 7 | 6 | 9 | 8 |
Conclusion
So, what time does the forex market close on Friday in South Africa? Based on the timings of different sessions, the New York session is the last to close for South African traders. It closes at midnight Friday. For more information visit this site: 300mbmovies
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