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April 5, 2016

Question:When is the Market Hour of FX & CFDs on FXnet Trader?

iFOREX - What's now?

We are no longer promoting iFOREX. The information regarding to iFOREX on the website 'Hercules.Finance' maybe outdated. ref. iFOREX

Answer:

The trading hours(market hours) for each financial instrument is different though, the trading hours are limited from 00:05 on Mondays to 11:00 on Fridays in GMT+2(GMT+3 in DST, summer time).

The trading hours of commodities, CFDs are depending on the trading hours of each underlying market.

You can find the full trading hours in the contract specification in iForex official website.

DST to be applied

Please note that iForex follows the DST(daylight saving time) in NY market.

So the server time of the trading platform is GMT+2 or GMT+3, but it changes from GMT+2 to GMT+3 when the time of the NYC changes.

It will simply affect the trading hours by one hour, so if you are using EAs for tradings, you may be required to change the settings as it changes.

Why the DST in NYC?

The server time of MT4 and also the FXnet Trader are set to GMT+2 or GMT+3 in DST, but it is not because these platforms want to be based in East European time.

It is set to the time of NY markets, as when the time of the trading platform reaches 00:00, the NY exchange market closes.

That is also the time when Swap charges occurs on all accounts.

As the NY exchange market is the last market opens and closes every day, the time of the trading platforms are also set to the time.

NY is the central in the financial market.

Increased margins when market closes

iForex may increase the required margins of all financial instruments from 2 hours before the market closes to 15 minutes after the market opens.

As the market hours are different for each trading instrument, you need to be careful of the increased margin before placing positions.

If there is no free margins in an account, stop loss will be triggered and all your positions will be liquidated(closed).

Variable spread in News time

Although iForex provides the trading environment with fixed spread, when the market volatility is extreme such as the time when important news are released.

Economic news releases are almost scheduled by each entity, you may also be careful with these time as the trading condition is different.

iForex does not offer variable spread but only fixed spread.

If you are looking to more tighter spread than the normal fixed spread offered by iForex, please contact iForex support team as the broker is offering VIP promotion and you could be categorized as VIP and get more benefits from iForex.

GMT offset is +2

Almost all trading platforms apply GMT+2(GMT+3) and you can not change the time.

As the market always follows the GMT offset, you may be able to change the display time but not the market hours itself.

Also, in iForex you can not change the trading hours or GMT offset in FXnet Trader.

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