Forex Market Hours: What’s the Best Time for You?

Best time to trade forex in Kenya
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Introduction

When it comes to Forex trading, one may be curious as to what is the best time for trading. Is there even the best time to trade? Despite being a common question, many new traders are not quite sure how to handle forex trading times. Especially as a beginner, selecting the best forex trading hours for you is tricky.

What exactly are forex market hours or trading hours? The definition of this term varies from broker to broker and forex trader to trader depending on who you ask! For the purpose of this article, we will define the best time to trade forex in Kenya is to the best of our ability. We’ll also answer some burning questions that traders may have, such as, “What are the best pairs to trade during Tokyo session?”

Additionally, we’ll clearly define forex trading sessions in Kenyan time, to remove all confusion and help you come up with a smart trading strategy.

Before we get to answer the big question, there are a couple of things that this article may help you understand.

Types of Forex Traders in Kenya

There is a range of forex trading times to choose from. Depending on the forex trading hours you’ve chosen, there are two types of forex traders who trade forex in Kenya.

a)      Day trader

b)     Night trader

A day trader is someone who trades forex from an intra-day perspective, i.e. with the intention to make small profits within a day by switching positions often and profiting from short-term price variations.

A successful day trader understands what forex trading hours are. They know the best time to trade forex in Kenya based on their own characteristics and lifestyle, given that they work around them in order to optimize their profit-making potentials while minimizing risks as much as possible.

On the other hand, a night trader is a forex trader who works the same hours as a day trader – namely, from 9 PM to 5 AM in Kenya.

Night trading in Kenya

Forex Trading Sessions

If you are a stranger to forex trading times, there are four different forex trading sessions around the world. They are determined by the different time zones and time-keeping standards. Below, we have defined the sessions, as well as given all the forex trading sessions in Kenyan time. These sessions are as follows:

1.      New York Session Time in Kenya (US session)

The New York forex trading market hours occur from 2 PM to 8 PM EST. The New York Session time in Kenya is from 2 PM to 1 AM in Kenya. It is the second-largest forex trading session in the world. This is partly because the USD is among the most traded currencies in the world.

During this time, the USD is most susceptible to change with movements in the NYSE (New York Stock Exchange) having serious effects on the currency.

2.      London Session Forex Time in Kenya (UK session)

The European forex trading hours are equivalent to the New York ones as they occur during the daytime in the USA.  The London session begins at 5 PM and runs to 3 AM GMT time every single trading.

This is another major player in the forex trading industry since the presence of banks like the Bank of England and Britain Central Bank is located in London. If you are a technical trader then this is the right time for you to trade because most forex trends originate from London.

London session forex time in Kenya runs from 11 AM to 7 PM.

3.      Tokyo Forex Market Hours (Best Pairs to Trade During Tokyo Session)

Tokyo forex trading session runs from 1 PM all the way to 10 PM JST time every single trading day. One of the frequently asked questions we get about Forex is, “What are the best pairs to trade during Tokyo session?” This trading session focuses on the Asian financial market. Any trade involving the JPY may work well for a trader interested in this time because the JPY (Japanese Yen) has much influence thanks to the Bank of Japan.

The best pairs to trade during Tokyo session include the USD/JPY, GBP/CHF, and GBP/JPY currency pairs.

In Kenyan time, the Tokyo session runs from 3 Am to 12 noon.

4.      Sydney Forex Market Hours (Australian Session)

Sydney forex trading session, also known as the Australian session, runs every trading day from 9 AM to 11 PM on the AEST time. According to Kenyan time, this forex trading session can be traded between 11 PM to 8 AM EAT.

This trading session is the smallest of all the other trading sessions. However, it’s ever busy on Sunday evenings when the markets open as traders work towards regrouping themselves from the long forex trading pause they have experienced.

Forex Trading SessionsForex Trading Sessions in Kenyan Time
Sydney11pm – 8 am
Tokyo3am – 12 noon
London11am – 7 pm
New York2pm – 1 am

The Best Time to Trade Forex in Kenya: Forex Trading Times

Understanding how these markets work, their strongholds, and their weaknesses will help you make a better decision. Choosing the best time to trade forex in Kenya is dependent on you, your time, and the instruments you plan to trade with.

Hint

If you have a full-time job during regular market hours and cannot keep up with live market updates, then maybe trading after-hours or at night might suits you better.

However, if your regular job is flexible and you are able – then by all means go for it. The best time to trade any forex market often depends on where you are in the world. In Kenya, the best time to trade is likely to be from 8:30 AM – 17:00 PM KEN Time (GMT+3).

Many experts agree on this time, and it doesn’t mean that you have to be confined in any one trading session alone. During this time, you will find that you can trade in the Tokyo session, the London Session, and get some part of the action in the New York session time in Kenya as well.

How to Pick the Best Forex Trading Hours for You?

There are different things that you need to consider while picking the best forex trading times for you in Kenya. These could be the availability of brokers, the forex market condition, and your own interest. You also need to consider the different forex trading sessions in Kenyan time before choosing your session.

A great example here is that you can trade in the currency markets when there are no major economic statistics being released. This may reduce any emotional effect on the price charts for a particular pair, allowing better technical analysis to be applied to potential trades.

Other economic releases include manufacturing reports from Germany and Japan which are published at 10:00 PM GMT+3 and 02:50 AM GMT+3 respectively.

Forex Market Hours: Overlaps in Forex Trading Times

Now, let’s take a close look at the overlap of forex trading hours between two or more exchanges. Generally speaking, there will be at least a one-time band that is “empty” or not over-lapped by another major foreign exchange market center during normal trading hours. These overlaps are as follows:

a) US London overlap- it occurs between 6 PM and 7 PM Kenyan time, and the market is very volatile during this time. It’s among the best times for traders to trade as shown by the 70% of traders who trade during this time.

b) Sydney Tokyo overlap- it occurs between 3 AM to 8 AM Kenyan time and is well known for the high Pip fluctuations that occur during these times.

c) London Tokyo overlap- it occurs between 11 AM to 12 AM characterized by large changes in pips.

What You May Want to Check Out For

You might also want to check out forex trading sessions in Kenyan time that typically indicate high sentiment or volatility in a specific market or trading instrument.

When an asset class experiences a significant move, and the market tries to find value based on historical price charts, the most optimal time to trade is when traders are emotional or at their most irrational – before they have had time to digest recent news.

If you are trading equities in particular, then news that impacts key sectors such as retail or technology will impact all of the index prices, so there is no better time to trade than right after an earnings report has been released for these areas. Get up early and don’t miss it!

What to Do to Know if It’s the Best Time to Trade Forex in Kenya for You

You now have a practical idea of what forex trading time zones are. You also know the different forex trading sessions in Kenyan time. This means you are in a good position to choose the best forex trading hours and craft a winning forex trading strategy.

These time zones are relative, so what is best for you may not be ideal for others. The best thing to do is to go with your gut feeling, and potentially try out each one before deciding on a good forex trading time zone.

The Benefits of Finding a Good Time Zone for Your Trade

Finding a good time zone or forex trading session will determine which is the best time to trade forex in Kenya, or just for you. It comes with different benefits as highlighted below:

Setting a time zone helps you conduct your trade allowing you to trade in the market that is favorable to you.

During the wake of these time zones, a lot of information is released and you get to understand how the market may react to the information before making a trade.

Trading time zones give power to the biggest currencies in the region allowing for a trader to choose the best currency pairs to trade in. To some extent, they help you determine the best forex broker that you can join.

What’s the Best Time to Trade Forex in Kenya?

Trading in Kenya can be a little bit tricky but with this guide showing you the best time to trade forex in Kenya, you are properly armed with all the information to make the best choices to start you off.

It’s vital that you get to understand that these forex trading sessions all come with different characteristics and the overlaps come with opportunities that may just be what you need. However, you should be careful while navigating forex trading times because a wrong step could lead to huge loss.

Overall, choose a time that sits right on your preferred schedule. Make the most of it and you won’t be disappointed. Up until this point, you expect nothing but most of this article!

Want to Start Trading? Here is our List of Recommended Forex Brokers

Broker NameMinimum DepositSpreadsRegulationWebsite
Fx Pesa5$ 0.01CMAOpen Account
Scope Markets20$ Spreads from 1.2 CMAOpen Account
Exness10$ From 0.0 CySEC and FCA Open Account
Hot Forex5$ From 0.0 FCA, DFSA, FSCA and FSA Open Account
Pepper StoneNoneECN spreads from 0 pips for EUR/USDFCA, ASIC and DFSAOpen Account
FXTM50$ 0.1 on ECN accounts and 0.5 on Standard accounts CySEC and FSC Open Account
Table of our recommended Forex Brokers in Kenya

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