Forex trading is free for all trading platforms accessible to everyone. It is almost open 24 hours a day and five days a week. We use the word almost because there are different sessions in Forex trading. Everyone can trade in a session of their choice. Although all sessions are open for all traders, there are noticeable trading differences. There are many people that are curious to learn about the best time to trade forex.
Lets take a look at the London session time in South Africa.
London session time in South Africa – Trading sessions
Four trading sessions are running simultaneously in Forex trading. Trading sessions ensure the equal accessibility of Forex for every trader around the globe. Hence, unlike the stock market, which has segregated divisions specific to an area and time zone. For example, the New York stock market opens according to New York time, and you need to contact a broker there to trade on it. The forex market, however, does this differently.
There are four Forex trading sessions;
- New York trading session
- Tokyo trading session
- Sydney trading session
- London trading session
We will keep our focus on London session time in South Africa.
Different session timings in South Africa
Forex market opens four different sessions according to the local times of 4 regions. The local time changes because of daylight savings (DLS). Hence, the timings are not static.
- Sydney trading hours – 11 PM to 7 AM
- Tokyo trading hours – 1 AM to 9 AM
- London trading hours – 9 AM to 6 PM
- New York trading hours – 2 PM to 10 PM
London session timing in South Africa
The European open or London session time in South Africa is between 9 to 6 AM. The opening hours change between 9 AM and 8 AM (accounting for DLS).
The London session timings are very suitable for South African traders. Regular traders who do Forex trading as a full-time job prefer London sessions. It is identical to regular office hours. South African brokers operate on London session timing as well.
The European trading session or London open is the most actively used Forex session. The Asian session is closing, and New York is mid-way, stabilizing when the London session starts.
All major Forex brokers and trading companies are from Europe. However, most significant traders are based in London, that’s why the session is called London open.
Almost 43% of trades take place in London. That is every 2 out of 5 works. Europe and, more specifically, London is a significant and dominant financial economy. Moreover, the timing of the London session overlaps with the Asian and North American markets.
We have a few tips for our readers who wish to trade in the London session.
- The London session has the highest liquidity rates.
- The liquidity rates are highest when the London session overlaps the New York session.
- The transaction costs are lowest in the London session
- London open has high volatility rates
- Trading trends are set in London open
This article is your ultimate guide to everything you need to know about London session time in South Africa. The London session is a promising and easy to trade-in session for South African traders. The most important currency pairs play out in this session.