This review of Sharefounders broker will look at the Forex trading schedule.
As a rule, traders have long known that Forex always provides an opportunity to trade actions. However, there are certain moments in time when it is closed and opened, which are due to the factor in which corner of the world you are currently staying. But usually GMT. Sharefounders broker studying several sites that explain the working Forex chart made this definition: opening/closing times, has 3 or 4 samples.
New York-opening at 13: 00, closing at 22: 00 GMT.
Sydney-opening at 22: 00, closing at 6:00 GMT.
Tokyo-opening at 00: 00, closing at 9: 00 GMT.
London-opens at 8: 00, closes at 17: 00 GMT.
And this is where, according to Sharefounders broker, serious complications begin.
The most important source of confusion that puts novice traders in a stupor is the moment when different sites will announce the Forex schedule.
In any situation, in order to form a normal trading schedule, you should adhere to the common basic reference time. In this Sharefounders broker article, information is provided according to GMT. But in other reviews focused on the US, Eastern the standard time zone is applied in most cases.
The second source of misunderstandings is the fact that GMT is always summer, winter, and autumn. However, based on the fact that the agreed world time GMT, where there is no average summer in Greenwich, we can draw the following conclusion. A trader from New York should definitely take into account when choosing a heading for the Eastern Time Zone, but not for the GMT, that in the summer in New York, the trading hours are shifted by an hour, because Greenwich time, of course, invariably.
24-hour mode or 8 hours, how is it correct?
Sharefounders broker in at the very beginning it is emphasized that everywhere the Forex schedule is 8 hours, which is true. Nevertheless, some sites say that Forex works around the clock, which is also a kind of right, but not quite.
In order to deal with this, we will make the wording of the explanation in two parts. First, do not forget that when it is midnight in New York, the Forex market there is closed, but it is open in Tokyo, for example, because it is noon there. It should also be taken into account that Forex is a global virtual market where there is no trading pit.
Sharefounders broker summarizes the results: despite the placed broker, its schedule is 8 hours.
Weekly chart: 5? 7?
The third misunderstanding is the daily schedule of Forex trading. After researching several Sharefounders broker sites, it appeared that It works around the clock, but most claim a five-day operation.
Well, here, we can not agree that both statements are very reliable. Obvious disputes are born as a result of how we set an example over time, and here. Despite the fact that the broker in question works 5 days a week, somewhere in another corner of the universe, it is open at that time, if this one is closed.
Sharefounders broker reports that you can trade at any time, this is all that was worth proving. In addition, as noted above, you get the best trading spreads when the volume reaches its peak, in other words, if there are many trading markets open.