The most obvious difference between the forex market and other trading markets is the constant trading hours and the unconstrained trading places. Trading at the right time helps generate a great profit.To get more news about WikiFX, you can visit wikifx official website.
In other words, the forex market is a 24-hour non-stop market. The main fluctuations and trading hours start from New Zealand‘s working Monday morning to Chicago’s Friday afternoon. There is also a small number of forex transactions at weekends of the Middle East time, but they are basically negligible as normal inter-bank weekly exchanges rather than speculation action. In summary, the forex market is a continuous trading market that never closes.
In the 24 hours, every trading session in the forex market has its own moving patterns and characteristics. So we have to adopt corresponding strategies at the appropriate time to increase the rate of return and the risk exposure of trade.
1. The New York forex market is the largest one in the United States. The market has established the most modern electronic computer system. At 10:00 p.m. Johannesburg time, the last transaction price in the market is the closing price of the previous day, and the first transaction thereafter is the opening price of the day.
2. The London forex market is a prestigious international forex market. As the center of the European currency market, the London forex market sees a large number of foreign banks establishing branches here. In this market, banks and other financial institutions operating forex trading have adopted advanced electronic communication equipment and turned to be the center of Euro-Dollar transactions.
3. Tokyo has developed its forex market from a regional forex trading center to the third largest forex market in the world following London and New York. Its annual trading volume ranks third in the world. At present, the largest transaction in the market is still the Yen-Dollar pair.
4. Hong Kong is an important international financial center in the Far East. The market participants are divided into three types: commercial banks, deposit companies and forex brokers. Commercial banks mainly refer to foreign banking groups composed of HSBC and Hang Seng Bank, which account for about 80% of all market businesses.
In the next article we will release the best trading hours for South Africa Forex traders.
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