Download FBS Trader Mobile App - Trade FX anywhere and anytime Table of Contents
Trade with FBS Trader Mobile App
FBS has launched its own “FBS Trader” mobile app which you can download for mobiles phones or tablets, including Android, iPhone and iPad.
You can download FBS Trader Mobile App for free, and the download links for these mobile apps can be found in FBS Official Website.
To start using “FBS Trader” mobile app, you need to first open a live trading account with FBS, then you can use the login details for your account to use “FBS Trader”.
By using “FBS Trader” mobile app, you can trade Forex and CFDs anywhere and anytime as long as you are connected to the internet.
When you are going home, in a train, bus or even during bathroom time, you have an opportunity to trade online with FBS.
Especially the Forex market is open for 24 hours a day and 5 days a week, and is suited or any types traders.
In this article, we also explain more about the trading hours of the Forex market, how it works and when you should trade in the Forex market.
Forex market is accessible 24/6
One of the major characteristics of FX is the length of the trading time.
Basically, domestic stocks can only be traded from 9:00 to 15:00 on weekdays when the stock exchange is open.
Since it is closed from 11:30 to 12:30, you can only trade for 5 hours.
On the other hand, in FX, it is possible to trade 24 hours on weekdays.
However, because you can trade for 24 hours, the characteristics will change depending on the time of day.
There may be a certain number of people who say, “I am trying to start FX, but I do not quite understand the characteristics of each time zone.”.
Therefore, we will explain the trading hours of FX and the characteristics of each time zone.
Suppressing the characteristics of each time zone in FX is very useful for deciding your trading style and controlling costs.
Why you can trade Forex 24/6?
As explained at the beginning, FX allows trading 24 hours on weekdays.
But do you know why you can trade FX 24 hours a day?
That’s because FX is traded by traders all over the world at the same time and the Forex markets around the world are open.
Trading domestic stocks can only be done when the stock exchange is open.
However, there is basically no central exchange in FX, and because there is a network for foreign exchange trading by banks around the world called the “interbank market”, it is possible to trade from anywhere in the world for 24 hours.
However, Saturdays and Sundays cannot be traded because the exchange markets of most countries in the world are closed.
Now you can understand that FX trading is basically possible 24 hours a weekday.
For the specific trading hours of each financial instrument on FBS Trader, you can find them on FBS’s Official Website.
Major Market Holidays of Forex
There are exceptions even though FX is a basic 24 hour trading on weekdays.
The main market holidays are “Christmas” and “New Year’s Eve/New Year”.
Most FX markets are closed on Christmas day.
There is only one FX market that is open, and that is the Japanese Forex market.
Some FX brokers can let you trade from 7:00 to 15:00 (in Japanese Time) when the Tokyo Forex market is open if December 25 is a weekday.
However, other markets are closed and there are few market participants, so we need to be careful about price movements.
Also, please remember that if the day of Christmas coincides with Saturday and Sunday, you cannot trade according to the FX principle.
2. New year’s eve
Many countries place importance on Christmas, and the trading hours of New Year’s Eve will change depending on each Forex broker.
Therefore, make sure to check the trading hours of New Year’s Eve of the Forex broker you are using.
In case of FBS, they introduce the changed market hours on the Official Website.
You cannot trade even if it is a weekday on New Year’s Day.
This is because all markets will be closed.
From the day after New Year’s Day, most Forex brokers will be able to trade normally.
3. Other holidays
First of all, it is possible to trade Forex even if it is a public holiday in your country, as long as it does not cover weekends.
Forex market itself barely gets affected by market holidays as the market is opened for 24/5.
However, in some countries the market may be closed on public holidays
You can check which country’s financial markets will be closed in FBS Official Website.
What time should you trade Forex?
When the some markets are closed, or when the entire market is quiet, such as after Christmas or early morning, there are few market participants and the spread, which is the actual cost, tends to widen.
Spreads are the “substantial cost” in FX.
The wider spread means more costs.
If you can, you want to keep the cost as low as possible.
To do so, it is necessary to keep in mind the “characteristics of each time zone in FX trading”.
From here, we explain which market is open and closed in the trading hours of FX, along with the characteristics and points of that time zone.
Make sure that you fully understand the characteristics of the time when the markets of “Tokyo, London, and New York,” which are said to be the three largest markets for foreign exchange, are open.
In particular, the fact that the degree of price movement changes depending on the number of market participants and that spreads tend to widen during times when there are few market participants are essential knowledge for Forex trading.
Let’s acquire the correct knowledge and get closer to the ideal Forex trading.
Now, let’s take a look at the time zone called Oceania time.
1. Oceania time
During the Oceania time, the Wellington market in New Zealand and the Sydney market in Australia are mainly open.
Basically, there are few market participants and there is almost no price movement.
Therefore, the spread tends to widen, so you should be careful when trading.
However, be aware that prices may fluctuate early Monday morning, after New Zealand’s economic data is released and big news on weekends.
2. Tokyo time
Tokyo time is a time zone when people living in Asian regions such as Japan, Hong Kong and Singapore open and participate in trading.
In particular, the days with 5 and 0, are often the closing dates of Japanese companies and tend to buy a lot of dollars to pay overseas.
Therefore, the price movement of the USD/JPY will be active when the mid price is decided.
Another point to note is the release of economic indicators in Australia and China.
Therefore, while the price movements of the European currency are quiet, the Oceanian currency tends to be relatively easy to move.
3. European Time
During the European Time, FX trading will become more active as the European market opens.
In particular, since the London market, which accounts for the majority of transactions in Europe opens, the number of market participants will increase and the price will suddenly rise.
Especially when European currencies such as the EUR and the GBP are actively traded and the economic indicators of the European area are released, the price movement becomes particularly large.
However, around the lunch time, the workers in Europe will enter their lunch break, and price movements will stabilize.
Therefore, even if there is a short-term trend, it tends to loosen around the lunch time in Europe.
4. New York Time
After the European market, the New York market opens and the foreign exchange market peaks with the addition of participants from the United States.
Trading is most active when two markets, London and New York, are open.
Furthermore, when the “London Fix”, which corresponds to the mid price of Tokyo hits, the price movements of the EUR and the GBP will be intense at the end of the month.
Also, since the London Fix is also used for investment trust settings, the USD/JPY may move.
The market stabilize again when the European stock market closes and price movements settle.
However, there may be a large price movement even after on the day when there is a dignitary statement in the middle of the night and the US monetary policy is announced.