Now, people are charmed by thousands of successful forex trading stories and desire to acquire a profitable forex trading career. In the same way, South Africa has become the most traded forex country as it has regulated sectors, competitive forex brokers, and most traded currency (RAND).
Before investing in forex trading, invest in significant guidance and education. Learn about the market conditions, financial accounts, and best trading times. In this article, we will tell you about the best Forex trading times in South Africa. So, let’s get straight into it.
Best time to trade forex in South Africa
The best Stock Exchange trading time is Monday to Friday, 9:00 a.m. to 5:00 p.m. according to South African standard time, but it is unpredictable in the case of forex trading as most of the traders trade at the end of the day due to higher liquidity. It is a 24/5 trade, so make the trade when the Market will be active.
From London to New York, speculation of forex of price fluctuations of currency pairs is a never-ending process. New York never slumbers the same thing forex trading does.
The best time to trade forex in South Africa is primarily determined by how active a market is worldwide. Not to mention, get access to a solid and stable internet connection as price movements to fluctuate within seconds. If your connection drops out, you’ll ultimately face loss.
Best Forex Trading times
There are four major forex centers globally, including London, New York, Sydney, and Tokyo. Then according to locations, they trade forex 24 hours a day. Yes, forex is an over-the-count trade as you can make trade 24/5.
While considering this, keep in mind that the Market is made only on weekdays for 24 hours, but the liquidity in the Market also determines it. However, by learning all about the best Forex trading times, just focus on your strategy when the right time is around.
Global major markets
Best forex trading times largely depend upon the country. Mainly in the middle of the day, the Market has low liquidity. Therefore the majority of trading takes place at the start and end of the day. Although, the best trading time depends upon the following major markets.
European Market displays the highest forex trading volume and is centralized around London. And its more active currencies are EUR, GBP, and USD.
United States Market has the second-highest forex trading volume and is centralized around New York, and most traded currencies are EUR, AUD, USD, and GBP.
Asian Market has relatively lowest trading volume and has lesser liquidity.
As a South African trader, you should not be trading on time ( either 00:00 between October and March or 23 between March and November) due to low liquidity and high spreads. Regardless of everything, traders should explore the Market, when the volatility will maximum, immediately make a trade and gain high profits.
Moreover, learn about the time frames types and choose the best according to your strategy to avoid higher risks.