When does forex market open in nigeria

When does forex market open in nigeria

In forex, you can place a trade & close it anytime during the week instead of waiting for the markets to open during the day. You might want to check out our guide on best time to trade forex in Nigeria as the opportunities to make profits are higher during certain market hours 1/6/ · In any case, the Forex market is open in Nigeria from very early Monday morning until late Friday night. Which Forex broker is the best in Nigeria? FXTM is one of the very few international Forex / CFD brokers which not only has a physical presence in Nigeria, but also accepts deposits in Author: Adam Lemon 10/23/ · The number of Nigerian Forex traders is estimated to be at , to , Around 25% of these are active traders with trade volumes estimated between $ million to $ million. The main brokers who have penetrated the Nigerian market are Alpari, InstaForex, FXOpen, ACM Gold, GKFX and blogger.coms: 3

Nigerian Forex Market : All You Need To Know – Information

Forex market is open 24 hours a day and for 5 days in a week. In a way, you could say that it is a market that never sleeps, when does forex market open in nigeria. For day traders this presents with so many opportunities to place trades or make profits during any time of the day.

But, this does not mean that you should trade anytime! Forex Trading time has been divided into different sessions, and not every time is the best to open or close your trades. There are times during the day when the currency prices are trending but there are quiet hours as well.

Price action in forex depends on the volume and volatility in the market. In the forex market, volume refers to the number of lots being brought or sold in a particular currency. And volatility refers to the speed at which price moves. The goal here is to pick the most suitable time to trade based on your trading strategyand get the most out of your trades.

A global forex market can be split up into three sessions. There are three major forex trading sessions in the world — The Asian Session, European Session and American when does forex market open in nigeria. Major financial hubs in the world represent these 3 Trading sessions. The markets function when these three sessions are in business and, the financial institutions, when does forex market open in nigeria, banks, corporations etc. conduct their major transactions during their time zones.

Forex Market Hours are similar to local business hours, i. the open time and close time range. So when the New York Session opens the London session is in progress but almost about to close. Hence the changes in price are visible when does forex market open in nigeria the market during sessions with high trading volumes. There are times when trading sessions between Tokyo, London and New York overlap, and volume spikes are visible during these times since traders from both the time zones are active during those hours.

While trading forex it is essential to understand the features of each trading sessions. It is open from AM to AM. Globally, European session is the largest financial session in the world. The London market opens at AM and closes at PM Nigerian Time. After London, New York is the Second largest session in the world. Major participants are traders from America and Canada.

The forex market in New York session is open from PM to PM Nigerian Time. Nigerian traders should trade during the opening hours of the London session — AM to early New York session hours till PM When does forex market open in nigeria time. So it is perfect time for day trading. In general, the hours to trade forex will also depends upon your trading strategy and currency pairs that you want to trade. For example: If you want to trade JPY then you might want to trade during the Asian session as well for picking the movements.

So practice first on demo account to figure which hours of the day best suit your trading strategy. Only after you have found a working strategy, you should then trade live in those hours. NG is an Investment Comparison website with an aim to help Investors in Nigeria find the best forex brokers. Read More. Read full risk disclaimer.

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Forex Trading Sessions -- Nigerian youngest trader

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Forex Market Hours - Live Forex Market Clock & Session Times

6/9/ · The Forex Market Hours Converter assumes local "wall clock" trading hours of AM - PM in each Forex market. Holidays not included. Not intended for use as an accurate time source. If you need the precise time, see blogger.com Please send questions, comments, or suggestions to webmaster@blogger.com 1/6/ · In any case, the Forex market is open in Nigeria from very early Monday morning until late Friday night. Which Forex broker is the best in Nigeria? FXTM is one of the very few international Forex / CFD brokers which not only has a physical presence in Nigeria, but also accepts deposits in Author: Adam Lemon The FX market is open 24 hours a day from Monday (or Sunday) to Friday (or Saturday) - as one part of the world goes to sleep, another wakes up. That's why we talk about Forex market hours and Forex trading sessions - to describe where and when the different Forex trading sessions are open to trading