The Forex market is the world’s most trending trading market. In South Africa alone Forex market’s popularity has grown out of proportion over the last couple of years. Most people prefer the Forex market because of its flexible trading hours. Hence, people who have jobs can also take advantage of Forex trading after they free up.
This article will explain the Forex trading sessions in South Africa time.
Forex trading sessions in South Africa Time-Introduction
Trading sessions in Forex are a very smart way to keep the market open around the clock. The different trading sessions make the Forex market into one big single market open 24 hours a day. Trading sessions allow the management of traders to be done in an easier and convenient method.
Traders can choose a session that suits them and trade in it. They don’t have to centralize their routine around the trading hours.
There are currently four sessions that work in the Forex market. These sessions cover the entirety of the globe. So, anyone anywhere can trade at any time they want. Namely;
- North America Forex trading session
- Europe Forex Trading session
- Australia Forex trading session
- Asia Forex trading session
Now, let’s see the Forex trading sessions in South Africa time.
South African Forex trading time
South African forex trading is a huge market. However, it can’t compete with markets like London and New York. For this reason, there is no trading session specifically for South Africa. South African traders have to trade in the four different sessions mentioned above. The important thing to note is that the trading hours are available around the clock.
North America Forex trading session
North America has two of the world’s largest stock exchange markets. In addition, it has the world’s strongest currency, USD. Forex trading largely depends on USD. USD is used as a base currency pair in many trades. South African users specifically use USD as the base pair. ZAR is second to USD in South Africa.
New York session starts at around 2 pm for South African traders. This is a suitable time for students. We know that young teens are getting interested in Forex trading. Hence, the New York trading session is a good option for those people.
Europe Forex trading session
Europe’s market is the largest Forex market in the world. Almost 43% of trades happen in London open. This market has the most influential brokers and traders. Additionally, the most actively traded currency pairs also happen to be mostly from the EU.
This session starts at 9 am for South African traders. This is the normal office time for traders. Thus, many Forex trading offices operate in the EU Forex trading session.
Asian Forex trading session
The Asian Forex market is very important for Asian countries. Although it may not seem very important to South African or European traders, it has a few of the world’s largest economies. Hong Kong and Singapore have a strong interest in the Asian Forex Exchange. Also, Yen is the most traded currency in the Asian trading session.
The Asian session opens at 9 pm for South African traders.
Forex trading sessions in South Africa Time is an important topic for new traders. Different sessions offer different liquidity rates and trade potentials. Thus, it is important to study and pick a session that suits your needs.