![]() ![]() The answer to this question depends on other factors such as your trading pairs, time of trading and the kind of time-trader you are. With insights into the actual time zone in Nigeria and the time difference with the major trading sessions, the next question should be the best trading times for forex traders in Nigeria. What is the best time to trade Forex in Nigeria? The best time to trade Forex - TU research Finally, traders in Nigeria may also need to consider the 1 hours difference between the West African nation and the time zone in London. If you are a trader in Nigeria, your time difference with the Tokyo (Asian) session is around 8 hours. On the other hand, Nigeria's time zone is 10 hours behind Sydney's time. Nigeria's time zone is 6 hours ahead of the expected time in New York. The standard time zone in Nigeria is (GMT+1). ![]() Nigeria is a West African country, which means the time zone falls into the West Africa Standard Time. If you are a trader in Nigeria, you may need to adjust your timings to ensure you take full advantage of these sessions. The global forex market falls into three major trading sessions. You can also take advantage of these varying trading sessions to make money in Nigeria. Night trading refers to a trader who prefers trading during night hours to capitalize on other forex sessions time gaps. The day trader achieves this by switching positions, often targeting short-term variations. The idea is to make small profits within a day. ![]() Whether you are a day trader or a night trader, your forex trading session in Nigeria could differ.Ī day trader refers to a trader who trades forex on an intra-day approach. The first thing that you must consider is the kind of trader you are before making any conclusions. Now that you understand the four major global time zones, the next question would be, which are the best times to trade in Nigeria's forex market. The trading hours for this session are from 04:00Īm to 01:00 pm (05:00 am to 02:00 pm by local Nigerian time). The primary market for the Australia session is in Sydney. The trading hours for this session areįrom 02:00 pm to 11:00 pm (03:00 pm to 12:00 pm by local Nigerian time). The primary market for the North American session is in New York. The trading hours for this session are from 08:00Īm to 05:00 pm (09:00 am to 06:00 pm by local Nigerian time). The primary market for the European session is in London. The trading hours for this session are 12:00 am toĠ9:00 am (01:00 am to 10:00 am by local Nigerian time). The primary market for the Asian session is in Tokyo. If you are trading Forex in Nigeria, here are the Forex sessions you should know: This is because the morning volatility often tends to Firstly, experts advise traders toĬonsider making trades between 10:15 am and 2:30 pm. When trading Forex in Nigeria, there are some facts to be aware of. When is the Forex market most active in Nigerian Time?įorex trading sessions in Nigerian time What is The Best Time to Trade Forex? This information will help you make better forex trading If you are a forex trader with interests in the Nigerian FX market, understanding theįorex trading sessions in the country is imperative. Nigeria's economy supports a thriving forex exchange market. The greatest forex market trading giants on the continent. In Africa, forex trading continues to gain remarkable traction. While the market remains open 24 hours daily, it operates at varying times in different Market operates 24-hours a day, with billions of dollars worth of forex currency changing hands. Global forex market is among the most vibrant counter markets for trading currency. The growth was 27% stronger compared to other previous years. Daily Forex volume in the United States Forex Market climbed to $966.7 billion in theįirst quarter of 2023. ![]()
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