Forex Trading Intro: Forex Sessions

Forex is a decentralized market and currencies trade during trading sessions.

There are three main trading sessions in forex:

Asia - pacific session (Sydney and Tokyo)
European session (London)
US session (New York)

Time Zone EDT April - October EST April - October GMT
Sydney open 6:00pm 4:00 pm 10:00 pm
Sydney close 3:00 am 1:00 am 7:00 pm

Tokyo open 7:00 pm 6:00 pm 11:00 pm
Tokyo close 4:00 pm 3:00 am 8:00 pm

London open 3:00 am 3:00 am 7:00 am
London close 12:00 pm 12:00 pm 4:00 pm

NewYork open 8:00 am 8:00 am 12:00 pm
NewYork close 5:00 pm 5:00 pm 9:00 pm

The NewYork - London overlap from 8:00am - 12:00pm EST offers the highest trading volatility during the day.
12pm - 4pm GMT

Types of Brokers

• Dealing Desk Brokers (DD)
• No Dealing Desk Brokers (NDD)

Types of No Dealing Desk Brokers (NDD)

• Straight through Processing Brokers (STP)
• Electronic Communications Network Brokers (ECN)

Points to consider when choosing a broker.

1. Security and Regulation
2. Transaction Costs
3. Trading Platform
4. Deposit and withdrawals