Forex Trading Sessions: Hours, Overlaps and What to Trade When
The Asian, European and US sessions, the overlap windows, and how session choice changes the spread and volatility of a given pair.
The market runs around the clock five days a week, but activity is anything but evenly spread. Understanding the schedule decides which pair is worth trading and when.
The schedule (UTC)
| Session | Open | Close |
|---|---|---|
| Asian (Tokyo, Sydney) | 00:00 | 09:00 |
| European (London, Frankfurt) | 07:00 | 16:00 |
| US (New York) | 13:00 | 22:00 |
Two overlaps
London + Tokyo (07:00–09:00 UTC). Moderate activity, a decent window for yen pairs.
London + New York (13:00–16:00 UTC). The main window of the day. Peak volume, tightest spreads, the bulk of the movement in the majors — and most US data releases.
What to trade when
- Asia. AUD/USD, NZD/USD, USD/JPY. European pairs mostly stand still.
- Europe. EUR/USD, GBP/USD, EUR/GBP, DAX and FTSE.
- US overlap. Anything dollar-related, gold, US indices.
Hours worth skipping
The final two hours before the Friday close: liquidity thins, spreads widen, and holding over the weekend means accepting gap risk. The first minutes of Monday, for the same reason.
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Frequently asked questions
Which session is the most active?
The London–New York overlap, roughly 12:30 to 16:00 UTC. It carries the greatest volume and the tightest spreads.
When is it better not to trade?
European pairs during the Asian session — EUR/USD and GBP/USD drift in narrow ranges while the spread stays relatively wide. Also the last hours of Friday and the first minutes of Monday.
Why does my broker's server time differ from mine?
Most brokers run GMT+2 or GMT+3 so the daily candle closes at the New York close. Charts are built on server time, not yours.
- Min. deposit
- $100
- Spread
- from 1.1 pips (Standard STP)
- Commission
- $3 per lot per side (Raw ECN)
CFDs are complex instruments with a high risk of losing money
- Min. deposit
- $50
- Spread
- from 1.0 pip (Standard STP)
- Commission
- $3 per lot per side (Raw ECN)
CFDs are complex instruments with a high risk of losing money