According to the consensus of experts, the best time to trade on foreign exchange market for investors in Singapore is during the overlap of the US and European trading sessions which occurs from 9:00 PM SGT to midnight at 1:00AM SGT, when the U.S. New York and London/European currency markets converge.
Trading Sessions Overview
| Forex Sessions | Open* (SGT Local Time)** | Close* (SGT Local Time)** |
|---|---|---|
| Sydney | 6AM | 2PM |
| Tokyo (Asian) | 8AM | 5PM |
| London (Europe) | 4PM | 12AM |
| New York (American) | 9PM | 6AM |
- Tokyo (Asian) trading session
The Asian session starts at 8:00 AM SGT and ends at 5:00 PM SGT.
- London session
London opens at 4:00 PM SGT and ends at 1:00 AM SGT.
It is the most volatile time, since economic news can move the market significantly!
- New York (American) session
New York starts at 9 PM SGT and ends at 6 AM SGT.
New York together with London are two the major sessions that tend to be highly volatile with the most liquidity.
Frequently Asked Questions (FAQ)
When does the Singapore forex market open?
In Singapore, the forex market opens on Monday at 9:00 AM SAST
When does the forex in Singapore close?
Foreign exchange market closes on Saturday at 5:00 AM SAST.
Is it possible for Singaporeans to trade FX over the weekend?
Yes, technically, Singaporeans can engage in FX trading for a few hours on Saturday morning, as the market closes at 5:00 AM SAST. However, it’s worth noting that there isn’t a significant amount of activity during this time.
When is it better not to trade?
The worst time to trade is during the market’s quiet periods, which usually occur during the Asian session. During these times, the market tends to be less liquid, which means that the spreads can widen dramatically, and the price movements can be more erratic.
Which is the best time frame for beginners to trade?
Beginners should trade during one session only. Choose whatever time is convenient for you. It is recommended to start with a longer time frame, such as the daily or weekly time frame. This is because longer time frames tend to be less volatile and provide more reliable signals. As you gain more experience and confidence, you can then move to shorter time frames, such as the 4-hour or 1-hour time frame.
Notes:
* Local Time = SGT
**depending on daylight saving time and public holidays
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