Unlike the other financial markets, Forex market is opened 24/5 on every weekday.
The Forex market opens with the Sydney exchange market opening on Monday and that is also when traders from all over the world can start trading.
Exchange Markets are connected in the world
There are several Foreign Exchange Markets and they are all connected.
From Sydney to Tokyo, London and New York. New York exchange market is the last market for each day.
During weekdays, Foreign Exchange Market never closes though, it is closed on weekends.
On each Friday, when the New York Exchange Market closes , that is when the Foreign Exchange Market closes for the week.
On Saturdays and Sundays, no one can trade Forex.
What happens to the prices on Weekend?
As all Foreign Exchange Markets are closed, you will not receive any price quotes from XM and its liquidity providers.
After the New York Exchange Market closes on Friday, you cannot trade until the Exchange Market in Sydney opens.
There will be no liquidity in the market, will be no price movements.
Although, there will be price gaps between prices of Friday closing and Monday opening.
That is because accumulated and un-executed orders during the weekends will be executed at the same time when the market opens.
You may be careful with the gaps if you have open positions over weekends, as your floating profits and losses might change dynamically because of the price movements.
For more information about the market hours on MT4 and MT5, contact XM support team from the Official Website.