Do you know, the daily trading volume of the forex trade market is 5$ trillion dollars a day, which is more than the volume on the New York stock exchange. So, what has made this trading form so popular is standing out from the competition in today’s world.
Well! The main secret of success lies somewhere within its operational ways. By this, we mean its working style. You don’t need to travel anywhere to get the job done, or you are not obliged to any time frame either. Instead, you get freedom from geographical, cultural, linguistic, and time barriers.
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Nevertheless, South Africa is included among those fortunate countries where forex trading is going incredibly high. Thus, there are several questions that a new trader may come up with. Some common questions are: What is the scope of the forex trade market in South Africa? What time does the forex market open on Sunday in South Africa? Or what are the best trading hours for a trader in the forex world?
If these questions also arise in your mind, then don’t stop reading. As we discussed, all of the answers are somewhere in the article below. So walk through the article thoroughly to find them all. Let us start
Frequently Asked Questions (FAQ) about the forex trading and its hours
What time does the forex trade market open on Sunday in South Africa
Being one of the largest online trading markets, the forex trade market opens almost 24 hours a day for 7 days a week in various countries. However, the case is a bit different in South Africa.
Let’s understand this phenomenon in a bit more detail for better understanding. So forex trade market is divided into four significant sessions across the globe. These sessions are named The Sydney session, The Tokyo session, The London session, and The Newyork session.
Now, the forex market in South Africa falls under the London session. Thus the opening and closing times are determined accordingly. Nevertheless, as we know, London Is a few hours ahead of South Africa. Therefore the trading hours also vary from time to time.
It means that the forex market in South Africa operates at 23:00 from march to November, and 00:00, from October to march. Thus the operating session of the forex trade market in South Africa is between 10:00 to 17:00 SAST (South African Standard Time).
Now that you know the basics of the South African forex time frame, the question here is, at what time does it operate in South Africa on Sunday?
So now, the simple answer to this question is from 5 pm on Sunday EST till 4 pm EST on Friday.
On the bottom line
In a nutshell, the forex trade market in South Africa is one of the fastest-running forex markets in the world. Nevertheless, rules and regulations of the South African forex market may differ from the other parts of the world so as the time zone.
So forex trade market in South Africa on Sunday opens at 5 pm
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