If you’re an international Forex trader in Nigeria who would like to know more about online currency trading in South Africa; you need to understand that there are many Forex brokers in South Africa who stay online 24/7 to trade Forex.
So, have you asked yourself when is the best time to trade Forex in South Africa to make profit out of it? Or do you sometimes wonder why the Forex market seems “slow” anytime you try online Forex trading in South Africa?
You keep thinking you’re just wasting your time and energy. It is the time to know why and the best Forex trading strategy to use when dealing with online trading in South Africa.
We’ve people asking me sometimes how do I deal with Forex trading training to others, running this blog and as well able to trade my own account. It is just because I wouldn’t trade without direction.
I choose my markets wisely and go with the Forex trading strategy that works and making use of the Forex trading demo account first before using the main account.
It has been identified that Forex market is open 24/7 every week, but sometimes you need to simply stay clear out of the Forex market. It may seem that it is not important to know the best time to trade Forex, but it is to avoid losing your hard earned money, especially in South Africa where there is a lot of Forex investment companies.
When is The Best Time to Trade Forex And Why?
In South Africa, the best time to trade Forex is when the Forex market is active, which indicates that more volumes of trades are made available in the market.
Actively traded markets create more possibilities to trade and make profits, while quiet and slow markets will actually waste your efforts and time. There are times to stay away from trading in Forex.
Many traders are not really exploiting this situation; they just trade whenever they want just because the Forex market is open 24 hours a day. The truth is that there are good and not so good times to trade Forex in everywhere, even though some traders know this but they choose to ignore it anyway.
Before I proceed further and able to talk about the best time to trade Forex in South Africa, you’ll find below the three things I think every trader should implement when trading:
- Able to make profits
- Keep profits
Forex Market Hours in South Africa
Forex market doesn’t have any physical location where each of the exchange (buy and sell) occur, hence it allows anyone from any part of the world to participate in, when one market closes another market opens giving individuals around the world the opportunity to receive share of the trillion-dollar pie, but you have to know the best time to trade Forex. The Forex market comprises of four sessions, they close and open at different times, see table below.
In conclusion, now that you already know the opening and closing times for each Forex markets, you can make informed decisions on when could be the best time to trade Forex for yourself.
Also, it has been reported by many traders that the EUR pairs and GBP pairs are largely traded for the period of the London session. I hope this article has answered your question about what time the Forex market open in South Africa does and South African Forex trading hours.