forex trading hours singapore

What Time Does the Forex Market Open in Singapore?

ByForexView Team

The forex market operates 24 hours a day, five days a week, opening on Sunday evening Eastern Time and closing on Friday evening Eastern Time. For traders based in Singapore, which runs on Singapore Standard Time (GMT+8 year round with no daylight saving), this translates to the market opening early on Monday morning and closing on Saturday morning local time.

Singapore is one of the major global forex trading hubs, ranked among the top centres for foreign exchange turnover. Its timezone places it favourably for trading the Asian session in particular, with the Tokyo session aligning with the local business day and the European session opening in the afternoon.

This article explains the precise opening and closing times of the forex market in Singapore local time, breaks down each of the four major trading sessions in Singapore time, and identifies the periods of highest liquidity for traders based in the country.

Forex Market Open and Close Times in Singapore

The global forex market opens with the Sydney session and closes with the New York session, running continuously across Asian, European, and American trading hours.

Market open: approximately 04:00 to 05:00 Singapore time on Monday, depending on whether Australia is on Daylight Saving Time.

Market close: approximately 05:00 to 06:00 Singapore time on Saturday, depending on whether the United States is on Daylight Saving Time.

The one-hour variation in each window occurs because Singapore Standard Time does not observe DST while Australia and the United States do. Sydney is two hours ahead of Singapore during Australian Eastern Standard Time (May to September) and three hours ahead during Australian Eastern Daylight Time (October to April). New York is 12 hours behind Singapore during US Eastern Standard Time (early November to mid-March) and 13 hours behind during US Eastern Daylight Time (mid-March to early November).

Singapore’s working week runs Monday to Friday, with Saturday and Sunday as the weekend, aligning conveniently with the forex weekend.

The Four Forex Sessions in Singapore Time

The forex market is conventionally divided into four overlapping sessions, each centred on a major financial hub. Times below are approximate and adjust by one hour during DST transitions in the relevant city.

Sydney session (Sydney 07:00 to 16:00 local time)

  • Sydney summer (Australian Eastern Daylight Time, October to April): approximately 04:00 to 13:00 Singapore time
  • Sydney winter (Australian Eastern Standard Time, May to September): approximately 05:00 to 14:00 Singapore time

The Sydney session marks the start of the forex trading week. Liquidity is generally lower than later sessions, and pairs involving the Australian dollar and New Zealand dollar see relatively higher activity. For Singapore traders, this falls in the early morning before most begin their workday.

Tokyo session (Tokyo 09:00 to 18:00 local time, GMT+9 with no DST)

  • Approximately 08:00 to 17:00 Singapore time year round

The Tokyo session brings increased activity to JPY-quoted pairs and pairs involving other Asian currencies. For Singapore-based traders, this session aligns almost perfectly with the local business day. AUD/USD, NZD/USD, USD/JPY, and AUD/JPY all see meaningful flow during Tokyo hours.

London session (London 08:00 to 17:00 local time)

  • Spring and summer (British Summer Time, late March to late October): approximately 15:00 to 00:00 Singapore time
  • Autumn and winter (Greenwich Mean Time, late October to late March): approximately 16:00 to 01:00 Singapore time

The London session is the most actively traded period in the forex market by volume globally. Spreads typically tighten significantly, particularly on majors such as EUR/USD, GBP/USD, and USD/CHF. For Singapore traders, this opens in mid to late afternoon local time and runs into the evening.

New York session (New York 08:00 to 17:00 local time)

  • Spring and summer (Eastern Daylight Time, mid-March to early November): approximately 20:00 to 05:00 Singapore time
  • Autumn and winter (Eastern Standard Time, early November to mid-March): approximately 21:00 to 06:00 Singapore time

The New York session brings high liquidity to USD-quoted pairs. For Singapore-based traders, this runs from evening into the early hours of the following morning.

The London-New York Overlap

The four to five hour overlap between the London and New York sessions is typically the most liquid and volatile period in the forex market.

In Singapore local time, this overlap falls in the evening and night:

  • During European summer and US summer: approximately 20:00 to 00:00 Singapore time
  • During European winter and US winter: approximately 21:00 to 01:00 Singapore time

For Singapore traders, this is generally considered the most attractive window for short-term trading. Spreads are at their tightest, liquidity is at its peak, and price action tends to be more responsive to fundamental drivers. Most major economic data releases from both Europe and the United States fall within this window. For more on session timing and trading conditions, see the forex trading session and best time of day to trade articles.

Weekend Trading

The forex market is closed on the weekend. Traders in Singapore cannot place or modify trades from approximately 05:00 to 06:00 Saturday until approximately 04:00 to 05:00 Monday in local time. Weekend gaps can occur when significant news breaks while the market is closed, leading to price gaps when trading resumes on Monday morning Singapore time.

Singapore’s weekend (Saturday and Sunday) aligns conveniently with the forex weekend, meaning Singapore-based traders have the same calendar weekend off time as the market itself.

Practical Considerations for Singapore Traders

Singapore’s GMT+8 timezone offers a balanced position for forex trading across all major sessions. The Tokyo session falls during business hours, the London session opens in the afternoon, and the most volatile London-New York overlap occurs in the evening when many traders have finished their work for the day.

A few practical notes:

  • Daylight saving time changes in Europe, North America, and Australia (which Singapore does not observe) shift the local session times by one hour twice a year
  • Public holidays in Singapore such as Chinese New Year, Hari Raya Puasa, Deepavali, and National Day do not close the global forex market, though local broker support hours may be reduced
  • Brokers licensed by the Monetary Authority of Singapore (MAS) or operating under MAS-recognised foreign equivalents are common choices for Singapore residents. The broker regulation page provides background on regulatory considerations
  • The Singapore Exchange (SGX) operates separately from the global forex market and trades a different range of products on its own schedule

Singapore traders who also follow conditions in other regions, such as the UAE, can compare local session timings to coordinate work and trading schedules.

Frequently Asked Questions

What time does the forex market open in Singapore? The forex market opens at approximately 04:00 to 05:00 Singapore time on Monday morning, depending on whether Australia is on Daylight Saving Time. The market closes at approximately 05:00 to 06:00 Singapore time on Saturday, depending on US Daylight Saving Time.

Does Singapore observe daylight saving time? No. Singapore remains on Singapore Standard Time (GMT+8) year round. However, daylight saving time changes in other regions shift the local times of those sessions by one hour twice a year.

Can Singapore residents trade forex 24 hours? Yes, during the working week. The forex market is open continuously from early Monday morning through Saturday morning Singapore time. Singapore residents can place trades at any time during this period through a regulated broker.

What is the best time to trade forex from Singapore? The most active windows are the Tokyo session (08:00 to 17:00 local time), which aligns with the business day, and the London-New York overlap (approximately 20:00 to 01:00 depending on DST), which is the most liquid period of the day globally.

Is forex trading legal in Singapore? Forex trading is permitted in Singapore for residents using brokers licensed by the Monetary Authority of Singapore or operating under recognised foreign regulators. Traders should verify a broker’s regulatory status before depositing funds.

Does the forex market close during Chinese New Year? No. The global forex market is unaffected by local public holidays. Trading hours remain the same throughout the year, though local broker offices may have reduced hours during Chinese New Year and other Singapore public holidays.

What happens to my open trades on the weekend in Singapore? Open positions remain open through the weekend and can be subject to gap risk when the market reopens on Monday morning Singapore time. If significant news affects the market during the weekend close, the opening price may differ from the Friday close. Stop loss orders may be filled at the gapped price rather than the original stop level.