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2022-04-12 • Updated

Best Time to Trade Forex: Best Days and Hours for Trading Forex According to Stats

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Many traders around the globe are still looking for the universal secret of the best time to trade Forex. But does such a thing even exist? We’ll be honest with you: it doesn’t. However, don’t let this fact demotivate you. The thing is that with thorough statistics analysis, you can see the keys to successful trades in repetitive patterns. This is exactly what we did. 

But before we go on with the topic, here’s a tiny disclaimer:

The following review was made based on the statistics of the FBS clients’ performance by county/instrument over 2019. It is not intended to be universal one-fits-all advice since the data varies from region to region and is based on dry figures instead of analytics. Still, it provides valuable trading insights on the best timing and other factors that can significantly improve your trading performance.

What’s the best time to trade Forex?

We analyzed the trading performance of the FBS community, which is over 20 million people across the world. 

Things that we wanted to find out include:

  • The best days to trade Forex by country/currency pairs
  • The best hours to trade Forex by country
  • The last year’s most profitable trading instruments
  • Why is this information important?

What is the best time to trade forex around the world?

You can be a Forex guru, but sometimes all you need to do is show up at the right time. The market doesn’t move by itself, it is moved by people and institutions that operate on it — and they do have behavioral patterns and habits.

FBS experts analyzed the behavior of traders from almost 60 countries to see on what days of the week they made the most handsome profits.

Here’s what we came up with:

  • The best time to trade in Latin America is Tuesday. Whereas Thursday is not the best of days for trading.
  • Monday to Wednesday is the best time to trade in Europe. These are the days with the most profit.
  • Just like in Europe, the best time to trade in Asia seems to be Tuesdays and Fridays.  
  • The Middle East and North Africa seem not to have any specific best time to trade. Profits are pretty much even all through the entire week. That’s the spirit!
  • The best time to trade in Africa is Monday with a slowdown over the rest of the week so that the African market is completely silent on Fridays.

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What are the best hours to trade Forex?

The Forex market never sleeps but not all hours of the day are equally good for trading. So, the best option would be to trade when the market is most active. And this happens when different trading hours overlap.

Here’s the list of the market hours overlaps: 

  • U.S./London: 8 a.m. to noon. This is the most optimal time with the highest volatility.
  • Sydney/Tokyo: 2 a.m. to 4 a.m. While not as volatile as the U.S./London overlap, this timeframe still offers a chance to trade with EUR/JPY being the ideal currency pair.
  • London/Tokyo: 3 a.m. to 4 a.m. That’s the least profitable overlap with too few opportunities for efficient trading.

Best days of the week to open orders by currency pairs

Predictably, there’s chemistry between Mondays and lots of currency pairs, including most majors. No wonder — trading is paused on weekends, but it doesn’t mean the economy stops. When the new week starts, the market is flooded by hungry traders, and this is where the magic happens.

However, the EURUSD orders tend to pay off better if opened on Fridays, which is also quite explainable: the weekend is coming!

The most profitable trading instruments of 2022

2022 had a shocking start in regard to geopolitical background. It is already affecting the market so there is no way of telling what will happen. But we can still speculate. Here’s what we think will deserve a trader’s attention in the months to come. 

The US dollar is one of the instruments that tend to go up during periods of uncertainty. If this tendency continues, USD could be among the most potentially profitable currencies in 2022.

Another instrument to look to is, of course, oil. Taking the events of early 2022 into account, oil is extremely volatile. The following months may see oil rising to its peak, so it is definitely an instrument to keep an eye on.

Several cryptos are also expected to be the center of attention. This is especially true for Ethereum, Aave, Shiba Inu, Curve, Decentraland, and Ripple. Bitcoin, of course, is not going anywhere any time soon, still being the world’s most expensive altcoin. 

As far as crypto trends go, the actual economic background will push users towards the coins offering the most privacy and anonymity. The two most likely choices in that regard will be the Monero and Zcash coins.

Lessons learned

So, what lessons did these stats teach us? 

Firstly, when it comes to trading, the more you know, the better — you never know when certain data might come in handy.

Secondly, using community experience is always a smart thing to consider. Please note: to consider, not to follow them blindly! After all, according to Nassim Taleb, unexpected things bring the best profits.

Do your trading patterns coincide with the stats for your region?

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