Let me ask you a question right now.
When is the best time to trade a specific currency pair in various forex market hours?
If you don’t know the answer, then don’t worry! Actually, a lot of new traders ask this question as well. Simply put, it’s one of the things that everyone should know about from the get-go.
That said, here’s the thing: there is no single answer to this question since it’s highly dependent on several factors.
For instance, let’s say that you’re a trader from Malaysia who wants to trade the USD/EUR currency pair. You need to consider three factors first. One, what markets trade the USD/EUR currency pair. Two, what time these markets are open at the same time. And three, what time that is in your respective timezone.
As you can see, knowing the specific times is absolutely vital when answering this question – which is what we’ll be discussing in this article. We’ll also provide you with our nifty Forex Market Hours Trading Tool to help you perform better in your future trades!
Top Currency Pairs to Trade on eToro
Table of content
As of this writing, eToro has a total of 47 currency pairs that you can choose from. In this guide, however, we’ll be focusing on only 9 currency pairs, which happen to be the top 9 currency pairs that you can trade in today.
Take note, these currency pairs all belong to 6 different markets around the world. With these options, you can feel free to trade in the forex market 24 hours a day.
Here’s a table below that better explains what I’m talking about.
How To Use The Forex Market Hours Overlaps Trading Tool On Toro Demo
Now, it’s understandable that keeping track of all these sessions may be pretty difficult, especially for beginner traders. After all, it’s not the only thing you need to think about. As mentioned above, there are three factors that must be considered before you can decide how to best trade in your chosen currency pair.
To refresh your memory, here they are:
- The markets that trade the currency pair of your choice. For example, Australia and Japan for the AUD/JPY currency pair.
- The time that those sessions overlap. For AUD/JPY, there’s a 7-hour overlap where you can trade this specific pair.
- What time it is in your respective timezone. Obviously, the answer to this varies depending on where you are based.
If you want a more detailed guide about finding out the best time to trade, take a look at our Guide To Choosing The Perfect Trading Hours On Toro Demo.
Planning ahead is absolutely crucial if you want to succeed in this industry, and that’s why we came out with this useful tool that can help you plan your forex trades better.
I’d like to introduce you to our Forex Market Hours Clock, available right here on Toro Demo. Simply select your timezone and press ‘Go’ in order to see the corresponding times these market sessions are open in your own timezone.
Forex Market Hours Clock By torodemotrading.com
So, when exactly is the best time to trade your chosen currency pair?
Aside from all the factors we listed, another important thing to keep in mind is your objectives for trading. Do you want to trade when everything is being traded-in high volume? Or do you prefer something less volatile, like trading when the markets aren’t currently open? Of course, if you prefer trading when everyone else is actively doing so, you should look at the time those specific currency markets are open. This means that if you want to trade GBP/USD, you should search for the overlapping hours when both the London market and the New York market are open.
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currencies
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Short Name
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exchange
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Great Briton pound
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GBP
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London, United Kingdom
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Euro
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EUR
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Europa
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Swiss franc
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CHF
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Zurich, Switzerland
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Norwegian kroner
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NOK
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Oslo, Norway
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united states dollar
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USD
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New York, United States
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Canadian dollar
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CAD
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Toronto, Canada
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Australian dollar
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AUD
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Sydney, Australia
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Japanese yen
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YEN
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Tokyo, Japan
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Singapore Dollar
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SGD
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Singapore, Singapore
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Good luck trading!
Disclaimer And General Risk Warning:
- ► The information provided should not be seen as financial advice and is only intended for entertainment and informational purposes.
- ► Financial asset providers listed offer a variety of financial products and services, including Stocks, Crypto assets, and CFDs.
- ► CFDs are complex instruments with high risk due to leverage. In fact a 77% to 86% of retail investor accounts lose money when trading CFDs. Make sure you understand how CFDs work and evaluate whether you can afford the potential risk of losing your money.
- ► Past performance does not guarantee future results. A trading history of less than 5 complete years may not be sufficient for making investment decisions.
- ► Financial asset providers do not constitute investment advice. The value of your investments can fluctuate, putting your capital at risk.
- ► Cryptoasset investments are highly volatile and may be unregulated in some jurisdictions. Consumer protection may not be available, and taxes on profits could apply.
- ► USA financial asset providers are not affiliated with any specific entity and do not offer CFDs. The platforms take no responsibility for the accuracy or completeness of the content in this publication, which is based on publicly available, non-entity-specific information.
► Trade with caution and be warned!
Author & Expert Trader - Financial Analyst:
