Forex Trading Sessions in Nigeria Time

In this comprehensive guide, I’m going to walk you through everything you need to know about the forex trading sessions in Nigeria time. You’ll discover how the Sydney, Tokyo, London, and New York sessions directly impact volatility and liquidity when the markets open and close in your NGN time zone.

And that’s just the beginning! You’re also going to learn how to align your trading to capitalize on price trends and maximize profits during peak trading hours. I’ll reveal the sweet spot where substantial market moves happen nearly every day if you know exactly when to look. And if you’re wondering about the impact of these trading sessions on your favorite currency pairs, we’ve got you covered too!

In a nutshell, here’s what you’re going to learn:

  • A detailed breakdown of the major forex trading sessions, including their start and end times in Nigeria.
  • Expert insights into the unique characteristics and trading opportunities presented by each session.
  • Strategies for optimizing your trading activities based on session-specific market conditions.
  • Tips for managing risks and maximizing profits during different trading sessions.
  • And more

Forex Trading Sessions in Nigeria Time

To succeed in the Forex market, you must trade not just with your mind, but also with the market’s rhythm. Understanding the Forex trading sessions in Nigerian time is like dancing to the market’s beat – it’s all about timing and rhythm.

In Nigeria, which operates on West African Time (GMT+1), these forex trading sessions occur at the following local times

  1. Sydney Session: The Sydney session is from 10:00 PM to 07:00 AM Nigerian time. It’s typically less active and is often ignored by many traders.
  2. Asian Session (Tokyo): This session starts at 12:00 AM (midnight) and ends at 9:00 AM Nigerian time. It’s typically less volatile as it’s the first to open after the weekend.
  3. London Session: The London session runs from 08:00 am to 05:00 pm Nigerian time. It’s one of the most active sessions due to the high volume of transactions from the European financial markets.
  4. New York Session: This session is active from 01:00 PM to 10:00 PM Nigerian time. It’s another highly active session, especially when it overlaps with the London session.

What Time Does Forex Market Open on Sunday in Nigeria?

For Nigeria, which is in the West Africa Time zone (WAT), the Forex market opens for the week at 10:00 PM on Sunday. This is when the Sydney trading session begins, as it’s Monday morning in Sydney at that time. The Sydney session is the first to open, followed by the Tokyo session, the London session, and finally, the New York session.

Although the Sydney session is the first to open, the Tokyo session is often considered the true start of the trading week because it’s more liquid and has a higher volume of trades.

Here’s a breakdown of the opening times of each session in West Africa Time (WAT):

  1. Sydney Session: Opens at 10:00 PM on Sunday
  2. Tokyo Session: Opens at 12:00 AM on Monday
  3. London Session: Opens at 8:00 AM on Monday
  4. New York Session: Opens at 1:00 PM on Monday
 forex trading sessions in Nigeria time

1. Asian Session Forex Time in Nigeria

The Asian session, often referred to as the Tokyo session, is a key trading period in the forex market. This session primarily revolves around the Tokyo market but also includes other significant markets like Hong Kong, Singapore, and Sydney.

In Nigerian local time, the Asian forex session runs from 12:00 am to 9:00 am. This timing is crucial as it allows you to plan your trading activities effectively.

The Asian session is popular for several reasons.

Firstly, Japan is the world’s third-largest trading center, and the yen is the third most traded currency, participating in almost 17% of all transactions. This high level of activity can create opportunities for savvy traders.

Secondly, the Asian session is known for its lower volatility compared to the European and North American sessions. This lower volatility can be advantageous for new traders or those with a more conservative trading approach.

The most traded currency pairs include:

  • GBP/JPY, and
  • EUR/JPY.

These pairs often see increased activity due to the involvement of the Japanese yen. However, the best currency pair for you to trade will depend on your specific trading strategy and risk tolerance.

Trading Strategies for the Asian Session

While the Asian session might have lower volatility, it doesn’t mean there aren’t profitable trading opportunities. Here are a few strategies you might consider:

  • Monitor the news announcements: Economic news can have a significant impact on currency prices. By keeping an eye on news announcements, you can anticipate market movements and make informed trading decisions.
  • Use technical analysis: Technical analysis involves studying price charts to predict future price movements. This can be particularly useful during the Asian session when market volatility is lower.
  • Trade the overlap: The period when the Asian session overlaps with the European session (from 8:00 am to 10:00 am Nigerian time) can be a time of increased market activity. This can create more trading opportunities.

2. Sydney Session Forex Time in Nigeria

The Sydney session takes place during the late night through the early morning hours in Nigeria.

  • Opens at 10:00 PM Nigerian time
  • Closes at 7:00 AM Nigerian time

The Sydney session is known for its relatively low volatility, making it a calm trading period. This can be an advantage for new traders or those who prefer a less volatile market.

However, don’t be fooled into thinking that this session is uneventful. There are still plenty of opportunities to make profitable trades, especially if you know which currency pairs to focus on.

The most popular currency pairs during the Sydney forex session are those involving the Australian Dollar (AUD) and the Japanese Yen (JPY).

The main currency pairs that tend to be active during the Sydney trading session include:

  • AUD/USD (Australian Dollar / US Dollar)
  • NZD/USD (New Zealand Dollar / US Dollar)
  • AUD/JPY (Australian Dollar / Japanese Yen)
  • NZD/JPY (New Zealand Dollar / Japanese Yen)

Specifically, the AUD/USD and USD/JPY pairs are known to offer better returns. These pairs are influenced by economic data and news releases from Australia and Japan, which can lead to increased volatility and trading opportunities.

Given the characteristics of the Sydney session, certain trading strategies can be more effective.

One such strategy is trading breakouts, which occur when the price breaks through a certain level on your chart. This strategy can be particularly effective during the Sydney-Tokyo overlap when volatility is high.

Another strategy is trading news releases. Economic data and news from Australia, New Zealand, and Japan can significantly impact currency values. By staying updated with the latest news, you can make informed trading decisions and potentially maximize your profits.

In summary, while the Sydney session may have lower activity than London or New York, it still presents exciting trading opportunities for Nigerian forex traders who are awake and alert during the late night hours. The session is worth paying attention to each trading day.

3. London Session Forex Time in Nigeria

  • Opens at 8 AM London time, 9 AM in Nigeria
  • Closes at 5 PM London time, 6 PM in Nigeria
  • Peak volatility between 10 AM – 2 PM as London & New York sessions overlap

The London Forex session is the period when the financial markets in London are open for business. For traders in Nigeria, this session aligns quite well with the local working hours, making it convenient to trade during this time.

This session is particularly important because it overlaps with other major Forex markets, such as the tail end of the Asian session and the beginning of the North American session. This overlap can lead to increased liquidity and more significant price movements, which can be advantageous for traders.

In Nigerian time, which operates on West African Time (GMT+1), the London session opens at 9:00 am and closes at 6:00 pm. This timing is perfect because it overlaps with the late Asian session and the early New York session, leading to increased liquidity and potential for price movements.

During the London session, the most actively traded currency pairs include EUR/USD, GBP/USD, and EUR/GBP. These pairs are particularly volatile during this session due to the economic data releases from Europe, which can significantly impact currency values.

The best time to scalp Forex in Nigeria is during the overlap of the European and North American sessions, typically from 2:00 PM to 6:00 PM local time. This period offers heightened liquidity and rapid price changes suitable for short-term trading.

3. New York Session Forex Time in Nigeria

The New York session, also known as the North American session, is one of the four major forex trading sessions. It’s a period when the forex market experiences high liquidity and volatility, especially during the overlap with the London session.

  • The New York session opens at 1:00 PM Nigerian time and closes at 10:00 PM Nigerian time. This corresponds to the normal trading hours of the New York Stock Exchange from 8:00 AM to 5:00 PM EST.
  • When trading during the New York session, you might want to focus on currency pairs that include the USD, given that the session will capture a lot of the American market activity. Pairs like EUR/USD, GBP/USD, USD/JPY, and USD/CAD are typically very active during this time.

The New York session holds great importance due to several factors. Firstly, it overlaps with the European session, which is the most active session overall. This overlap period offers heightened liquidity and rapid price changes, making it suitable for short-term trading.

Secondly, the New York session is known for the release of important economic data. These announcements can have a substantial impact on currency pairs, generating volatility and providing trading opportunities.

While the entire New York session offers potential opportunities, there are specific periods within this session that are particularly lucrative. The overlap of the European and North American sessions, typically from 2:00 PM to 6:00 PM local time, is considered the best time to scalp forex in Nigeria.

forex time zone in Nigeria

Best Time to Trade Forex in Nigeria

While you can technically trade at any time, not all trading sessions offer the same level of liquidity and volatility. The best time to trade is when the market is most active, which is typically during the overlap of the major trading sessions.

For traders in Nigeria, experts advise making trades between 10:15 am and 2:30 pm. This is because the morning volatility often tends to taper off between 10:00 and 10:15 am.

  • The best time to scalp forex in Nigeria is during the overlap of the European and North American sessions, typically from 2:00 PM to 6:00 PM local time. This period offers heightened liquidity and rapid price changes suitable for short-term trading.

Through days in the week when trading is on, there is always at least one market open to business. Forex trading takes place in various countries around the world and as one market is closing for the day another is opening in another part of the world. For this reason forex trading is referred to as a 24 hours currency market.

A forex trader needs to know the forex trading times applicable to the different forex markets and also the best times to trade during the day. Some hours and days of the week are known to present better trading opportunities and more profit.

What Time Should You Trade Forex in Nigeria?

Although the forex market is open 24 hours per day during the work week, not all trading hours and sessions are equal.

To be profitable trading forex in Nigeria, you need to understand the forex trading sessions in Nigeria time, how each session behaves, and the best currencies to trade at particular sessions.

In this detailed guide, we delve not only on what are the best trading hours in Nigeria, but also at what currencies you can trade during each session.

It is also important that you understand market open time on Sunday (if you’re eagerly waiting to trade), and also the best days of the week to trade forex.

Forex trading times differ from market to market or country to country due to the difference in time zones and because the international forex market is linked up not by one exchange computer but by a network of computers.

So when one particular exchange closes the international forex market does not necessary have to close. For example if the US market closes, dollar can still be traded on other exchanges or markets around the world.

The best forex trading times to enter the market is when a number of exchanges or markets are opened and large volumes of currencies are being traded. This occurs at times during the day when the markets of several countries are open.

For each time zone, forex is traded 8am to 4pm and so to get the best forex trading times you need to know when the markets of different countries overlap.

At these times there is more activity and fluctuations of rates and that increases the chances of making better profits. The middle of the week has also been noticed to experience more activity and trading in the markets than other days of the week, specifically Tuesday and Wednesday.

What’s the Best Time to Trade Forex in Nigeria

best forex trading time in Nigeria

The best time to trade forex in Nigeria is between 2:00 PM and 6:00 PM, Nigerian local time. During this period, the London and the New York trading sessions begin to overlap, creating a lot of market activity and opportunities. The overlap lasts for the next 4 hours, and this means that liquidity is at it’s peak since these are the two largest trading sessions in the world.

For scalpers, the 4-hour period presents an opportunity to make quick profits since spreads are at an all time low of the day. Additionally, a lot of tradeable patterns form during this 4-hour window.

Day traders can also enter into trades during this period and wait to close when the New York trading session is closing at around 5:00 and 6:00 AM. Nigerian time. We actually find this strategy very workable for professional forex traders who do not need to keep glancing at the charts. (Just remember to setup your alarm so that you can wake up to close the trades if you don’t want to pay swap.)

During the week, the Forex market is open 24 hours per day, but not all times of the day are equal. Understanding why is an important lesson for any trader so that they can adapt their trading style to suit the market conditions.

The Importance of Time in Forex Trade Analysis

Liquidity, or the ability to fill a trade without significant shifts in price, is a key concern when comparing various times of day.

Highly liquid pairs like EURUSD can soak up very large orders without blinking, but more exotic pairs will likely slip more noticeably when a very large order is placed. This is because there are less counter orders in the market, meaning that the large order consumes all of the nearby counter orders at various prices before eventually being fully filled. This effect is exaggerated during low liquidity times.

In reality, the exceptional size of the FX market will mean that the smooth opening and closing of positions won’t be a concern for any but the largest of traders, but what is worth noting is how the behavior of the market changes during periods of varying liquidity. 

For high liquidity, there needs to be a large number of orders in the market, so it fits that the highest liquidity periods of the day are when the largest number of traders are active in the market.

Forex Trading Sessions in Nigeria Time
SessionOpen Time (Nigeria Time)Close Time (Nigeria Time)
Asian Session12:00 AM9:00 AM
London Session9:00 AM6:00 PM
New York Session2:00 PM9:00 PM
Sydney Session10:00 PM07:00 AM

1. Sydney Trading Session (22:00 – 07:00 GMT)

This is where the trading day and trading week starts, although it is perhaps the quietest of the sessions, apart from an occasional pick up in volatility at the weekly open as traders react to the weekend’s news.

It is also worth remembering that the interbank market can be active several hours before the retail Forex market, so it is possible that there will be large gaps in price when the retail Forex market opens.

Professional traders use NY close charting too, which means that daily candles will begin at the start of this session and close at the end of the NY session.

Depending on the price action, this can also be a source of volatility at the daily open. On the whole, though, liquidity is frequently the lowest until Asia opens. Spreads will be wide and trading is often very slow. The previous day’s moves will typically be consolidating by now, unless there is a major market-moving piece of news. When a big piece of news lands during this session, the thin conditions cause excessive volatility and exaggerate any moves.

2. Asian Trading Session in Nigeria Time (00:00 – 09:00 GMT)

During the Asian Forex session, the financial markets in Japan, China, and Australia are open for trading. This means that there is increased liquidity in the Forex market, as traders in these countries are buying and selling currencies.

The Asian Forex session is known for its relatively low volatility, as there are fewer major economic releases and market-moving events during this time. However, it is still important to keep an eye on the news and economic indicators, as they can still have an impact on currency prices.

Traders in Nigeria who are interested in participating in the Asian Forex session can do so by opening a Forex trading account with a broker that offers 24-hour trading. It is important to choose a reputable and regulated broker to ensure the safety of your funds.

Here is a guide to the Asian Forex session in Nigeria time:

  1. Market opening and closing times: The Asian Forex session begins at 12:00 AM Nigerian time and ends at 9:00 AM Nigerian time. During this time, forex traders in Nigeria can participate in the foreign exchange market and trade currencies.
  2. Major currencies traded: The most actively traded currencies during the Asian Forex session are the Japanese yen, the Australian dollar, and the Chinese yuan.
  3. Key economic indicators: Some key economic indicators that traders should pay attention to during the Asian Forex session include Japan’s GDP, China’s industrial production and retail sales data, and Australia’s employment data.
  4. Market activity: The Asian Forex session is typically a quieter time for the Forex market, as it takes place during the overnight hours in the Western Hemisphere. However, there can still be significant price movements and trading opportunities during this time, particularly if there are major economic releases or geopolitical events.
  5. Trading strategies: Traders may choose to adopt different strategies during the Asian Forex session depending on their goals and risk tolerance. For example, some traders may choose to use trend-following strategies, while others may opt for range-trading or scalping strategies. It’s important to carefully consider your own trading style and risk management strategies when participating in the Asian Forex session.

The Yen and Australian pairs are often the most active pairs during this session as the Tokyo and Sydney stock exchanges are open. The large moves observed in the London and NY sessions, though, are less common in the Asian session, which makes range-bound and breakout trading more suitable.

3. London Trading Session (09:00 – 18:00 Nigeria Time)

The London session of the Forex market opens at 9:00 AM Nigerian Time and closes at 6:00 PM (noon) Nigerian Time. The London session is one of the busiest and most active trading sessions in the Forex market, as it coincides with the start of the business day in Europe and the overlap with the end of the trading day in the United States.

The London session is typically the most active session and is often considered the “heart” of the Forex market, as it is during this time that the majority of currency trading activity takes place.

During the London session, a large amount of currency trading activity takes place, as traders in Europe and the United States enter and exit trades. This typically leads to higher liquidity and more favorable trading conditions, as there are more buyers and sellers in the market.

During the London session, the currency pairs that are typically most active are those that are directly related to the British pound. This is because the London session is the primary trading session for the British pound, as London is a major financial center and the center of the foreign exchange market for the British pound.

Some examples of currency pairs that tend to be most active during the London session include:

  • GBP/USD (British pound/US dollar): This is one of the most widely traded currency pairs in the world, and it tends to be particularly active during the London session. The GBP/USD pair is often influenced by economic and political developments in the UK and the US, as well as by central bank policy and interest rate decisions.
  • GBP/EUR (British pound/euro): The GBP/EUR pair is also a major currency pair that is heavily traded during the London session. This pair tends to be influenced by economic and political developments in the UK and the European Union, as well as by central bank policy and interest rate decisions.
  • GBP/JPY (British pound/Japanese yen): The GBP/JPY pair is another currency pair that is heavily traded during the London session. This pair tends to be influenced by economic and political developments in the UK and Japan, as well as by changes in global market sentiment.

It is worth noting that while these currency pairs are typically most active during the London session, they can also be traded at other times of the day or night, as the Forex market is open 24 hours a day. However, trading activity and liquidity tend to be higher during the London session, which can make it a good time to trade these currency pairs for many traders.

UK and European data is typically early in the London session, so when Asia closes at 10:00 GMT, there can be a slight lull until NY opens (at 13:00 GMT), unless there is a strong trend to keep things ticking along.

4. New York Trading Session (13:00 – 22:00 GMT) (14:00-21:00 Nigeria Time)

The New York session is one of the busiest and most active sessions in the forex market. It begins at 8:00 AM Eastern Standard Time (EST) and closes at 5:00 PM EST. In Nigeria, this corresponds to 2:00 PM to 9:00 PM Nigerian Standard Time (WAT).

New York Trading Session in Nigeria Time
Time ZoneNew York Session Start TimeNew York Session End TimeNigeria Time
Eastern Standard Time (EST)8:00 AM5:00 PM2:00 PM - 11:00 PM

During the New York session, financial markets in the United States, including the NYSE, are open for business. This means that a large amount of forex trading activity takes place during this time, as traders react to economic data releases and other news events that can impact the value of currencies.

The New York session is typically the busiest session for trading the US dollar, as well as the Canadian dollar, which is closely tied to the performance of the US economy. However, all major currencies can be traded during the New York session, as well as a wide range of minor and exotic currencies.

What Influences the Forex Market During the New York Session?

There are several factors that can influence the forex market during the New York session. These include:

  • Economic data releases: The US economy is a major driver of global economic activity, so the release of economic data, such as GDP, inflation, and employment figures, can have a significant impact on the value of the US dollar and other currencies.
  • Central bank decisions: The Federal Reserve, the central bank of the United States, can influence the direction of the forex market through its monetary policy decisions, such as changes to interest rates.
  • Political developments: Political events, such as elections or trade negotiations, can also impact the forex market, particularly if they have the potential to affect the stability or growth of the US economy.

Tips for Trading During the New York Session

If you are planning to trade the forex market during the New York session, here are a few tips to keep in mind:

  • Pay attention to economic data releases: As mentioned above, economic data releases can have a big impact on the forex market, so it’s important to stay informed about what data is coming out and when.
  • Use risk management techniques: The forex market can be volatile, especially during the New York session, so it’s important to use risk management techniques, such as setting stop-loss orders, to protect your trades.
  • Stay up to date on political developments: Political events can also impact the forex market, so it’s a good idea to stay informed about what’s happening on the political front.

New York is where the trading day and therefore trading week ends. US data is typically early in the session too, so the crossover from London to New York is one of the most important times of day for traders. Liquidity is at its highest, spreads typically at their lowest and the risk of an exhausted trend reversing is high.

As London closes, what is referred to as the “NY afternoon” begins. The trading activity dies down, but there are still a lot of traders in America sitting at their desks. As such, if an important piece of news hits during this time, it can display remarkable volatility, which again makes news and breakout trading favorable during this quiet period.

6 thoughts on “Forex Trading Sessions in Nigeria Time”

  1. I really was informed by this, thank you very much, I am actually a beginner, I know almost nothing about forex, I am trying to learn so I can support myself and family.

  2. Though i may be a beginner but with what you have explained i was able to get somethings that are not clear clearer. Thank you so much.

    How can someone like me be guided to avoid trading loss? Am scared

  3. Very informative, many of our local brokers dont even share this information with us, they just want us to blow our accounts with them so that they can buy venza. God bless you.


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