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  1. #1
    Specialist Member marc's Avatar

    Question about market open? !!!

    I am just wondering ... is the forex market really completely closed during the weekend? ... or is it actually running 24/7 in the 'background' and just not open to investors?

    Anyway, I really want to know, at which exact time (UTC) does a new trading week starts?

  2. #2
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    On weekend, forex trading is closed because major markets are not open on weekends. However any financial or economic event during weekend definitely change market price levels which cause "gaps" when market opens on Monday.

  3. #3
    Specialist Member marc's Avatar
    Thanks MJ ... but I have another question:

    Is there any 'official' quote of the prices or does every broker set the quotes just as he likes? ... the reason for my question: I have two demo accounts (large FX brokers) and the quotes are sometimes completely different, especially when I look at the gaps after weekend

  4. #4
    Moderator Kolyo's Avatar
    During weekend trading is stopped and I don’t think there is an over the counter market except some small transactions fixed to Friday close price quote. I think the market open on Sunday (Australian Monday morning) around 20:00 UTC. Also about your last question - Is there any 'official' quote – forex market is decentralized so there is no official quote. However the market is so efficient that almost immediately it is equilibrated all over the world and there are only minor differences. These are the differences you see from your different fx trading terminals. They are only few tents of the pips and last only few milliseconds that’s why they are not tradable most of the time. I know some guys who trade very fast arbitrage trades on forex pairs but it works only on some brokers with slow quotes and only for short period of time. This is not a profitable strategy in the long run. If you have any other questions don’t hesitate to ask us. Here are many traders willing to help.

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