The forex market runs 24 hours a day, five days a week — but that does not mean every hour is worth trading. Knowing when to trade is just as important as knowing what to trade. This guide breaks down the global sessions, when the market is most active, and the best (and worst) times to place your trades.
Is forex open 24 hours?
Yes. Forex trades continuously from Sunday evening to Friday evening because it follows the business hours of major financial centres around the world. As one region closes, another opens, so the market never sleeps during the week — but it does close on weekends.
The four major forex sessions
Activity is organised into four sessions named after key financial hubs. Times below are approximate in GMT and shift slightly with daylight saving:
Session
Hours (GMT)
Character
Sydney
21:00 – 06:00
Quiet open of the week
Tokyo (Asian)
00:00 – 09:00
Moderate; JPY, AUD, NZD active
London (European)
08:00 – 16:00
High volume — the biggest session
New York (US)
13:00 – 21:00
High volume; USD and news-driven
The best time to trade: session overlaps
The most active — and usually the best — time to trade is when two sessions are open at once, because liquidity and volatility peak:
London–New York overlap (13:00–16:00 GMT) — the prime window. The two largest sessions run together, giving the tightest spreads and the biggest moves of the day.
Tokyo–London overlap (around 08:00 GMT): a smaller pickup as Europe comes online.
If you can only trade for a couple of hours a day, the London–New York overlap is usually where the best opportunities are.
Best times for specific markets
EUR/USD and GBP/USD: most active during London and New York.
USD/JPY, AUD/USD, NZD/USD: liveliest during the Asian session.
Gold (XAU/USD) and US indices: follow the London–New York window and US data — see our gold trading guide.
Best days of the week to trade
Tuesday to Thursday are typically the most active, trend-friendly days.
Monday often starts slow while the market finds direction.
Friday afternoon winds down as liquidity thins before the weekend.
When to avoid trading
Right into major news (rate decisions, NFP, CPI) unless you have a clear plan — spreads widen and prices whipsaw.
Late New York / daily rollover, when liquidity is thin.
Late Friday and weekends, when the market is closing or shut.
A simple rule for beginners
Trade the London–New York overlap, mid-week, with a plan — and sit out the quiet, low-liquidity hours. Good timing beats long hours in front of the screen. New to the basics? Start with our forex for beginners guide.
Risk warning: Trading forex and CFDs on margin carries a high level of risk and may not be suitable for everyone. You could lose some or all of your invested capital.
Frequently asked questions
What is the single best time to trade forex?
The London–New York overlap, roughly 13:00–16:00 GMT, when liquidity and volatility are highest.
Is forex open on weekends?
No. The market closes Friday evening and reopens Sunday evening (GMT). Crypto markets, however, trade through the weekend.
What is the best time to trade gold?
Gold is most active during the London–New York overlap and around major US data releases.
Can I trade forex at night?
Yes — the Asian session runs through the night in Europe/US time and suits pairs like USD/JPY and AUD/USD.
Do the best times change with daylight saving?
Yes. Session times shift by about an hour when clocks change, so adjust the GMT windows accordingly.
Gold has been a store of value for thousands of years, and today it is one of the most popular markets in the world to trade. Known by its ticker XAU/USD, gold offers strong trends, deep liquidity and almost round-the-clock action — which is why traders of every level keep it on their watchlist.
This complete guide explains how to trade gold (XAU/USD) step by step: how it works, what moves the price, how much money you need, the best times to trade, beginner-friendly strategies, and how to control your risk. Every number below uses real SCapitalFX conditions, so you know exactly what to expect.
What is XAU/USD (gold)?
XAU/USD is the symbol for gold priced in US dollars. “XAU” is the international code for one troy ounce of gold, and “USD” is the US dollar — so the price simply tells you how many dollars one ounce of gold costs. If XAU/USD is 3,000, one ounce of gold is worth $3,000.
When you trade gold at SCapitalFX you trade it as a CFD (contract for difference). You do not buy physical bars or coins — you trade the price movement. The big advantages:
You can profit (or lose) whether gold goes up — you “buy” / go long — or down — you “sell” / go short.
You can use leverage to control a larger position with a smaller deposit.
There is nothing to store or insure, and you can enter and exit in seconds.
How gold trading actually works (the numbers most guides skip)
Here is exactly how gold is structured on the platform — the concrete details that decide your profit, loss and cost:
Symbol: XAU/USD
Contract size: 1 standard lot = 100 ounces of gold
Minimum trade size: 0.01 lot (a “micro lot” = 1 ounce)
Maximum leverage:1:100
Spreads from: $0.08 (Raw account) or $0.25 (Standard account)
How profit and loss work: because one standard lot is 100 ounces, every $1 move in the gold price equals $100 of profit or loss on a 1-lot position. A micro lot (0.01) is 1 ounce, so each $1 move is worth just $1 — ideal for beginners who want to keep risk small while they learn.
What a gold trade really costs
Your cost is the spread (and, on a Raw account, a small commission). Here is the round-turn cost of trading one standard lot of gold:
Standard account
Raw account
Spread (from)
$0.25 / oz
$0.08 / oz
Spread cost per lot (100 oz)
~$25
~$8
Commission
None
$6 round-turn / lot
Total cost per lot
~$25
~$14
Max leverage
1:100
1:100
Min trade size
0.01 lot (1 oz)
0.01 lot (1 oz)
So trading a full lot of gold costs roughly $14 on a Raw account ($8 spread + $6 commission) versus about $25 on Standard — one reason active gold traders often choose Raw. See our Standard vs Raw account guide for the full comparison.
What moves the price of gold?
Gold does not pay interest or dividends — its price is driven by supply, demand and sentiment. The main forces are:
The US dollar. Gold is priced in dollars, so it usually moves inversely to the USD. A weaker dollar tends to lift gold; a stronger dollar tends to weigh on it.
Interest rates. When central banks (especially the US Federal Reserve) raise rates, holding non-yielding gold becomes less attractive. Rate cuts often support gold.
Inflation. Gold is widely seen as an inflation hedge, so rising inflation expectations can increase demand.
Safe-haven demand. During wars, crises or market panic, investors move into gold for safety, which can cause sharp rallies.
Central-bank and physical demand. Large buying by central banks, plus jewellery and industrial demand, shape the long-term trend.
You do not need to predict all of this. Most beginners do better watching the US dollar and major US data releases, and trading with the trend.
Practise on a demo. Get comfortable placing, modifying and closing gold trades with virtual money first.
Fund your account. The fastest low-cost method is crypto — you can deposit with USDT, BTC and 50+ coins.
Open the XAU/USD chart. Find gold in your watchlist and study the trend on a higher timeframe (like the 4-hour or daily) before zooming in.
Decide buy or sell. Going long if you expect gold to rise, short if you expect it to fall.
Set your stop-loss and take-profit. Always decide your exit before you enter.
Choose your position size. Start with micro lots (0.01) so each $1 move is only $1.
Place the trade and manage it. Follow your plan — don’t move your stop further away just to avoid a loss.
A simple worked example
Suppose gold is trading at $3,000 and you go long 0.10 lots (10 ounces). You set a stop-loss $10 below and a take-profit $20 above:
If gold rises $20 to $3,020, your profit is 10 oz × $20 = +$200.
If gold falls $10 to $2,990 and hits your stop, your loss is 10 oz × $10 = -$100.
That is a 2:1 reward-to-risk trade — a healthy ratio to aim for as a beginner.
How much money do you need to trade gold?
Less than most people think. Thanks to micro lots and 1:100 leverage, you can start small:
Margin: at 1:100 you only need about 1% of the position’s value as margin. For a 0.10-lot trade (10 oz) with gold near $3,000, the position is worth about $3,000 and needs roughly $30 in margin.
Risk per trade: the bigger limit is your risk, not your margin. Gold can move $20–$50 in a day, so size your trades so a normal move can’t wipe you out.
You can open a Standard account from just $10, but for gold specifically we suggest a little more buffer so your stop-loss has room. New to position sizing? Read how to start trading with $10 and the fundamentals in our forex trading for beginners guide.
The best times to trade gold
Gold trades nearly 24 hours a day, but liquidity and volatility are not equal across the day. The most active window is the London–New York overlap:
Session
Approx. time (GMT)
What to expect
Asian
00:00 – 08:00
Quieter, narrower ranges
London
08:00 – 16:00
Volatility picks up
London–New York overlap
13:00 – 16:00
Most active — biggest moves
New York
13:00 – 21:00
Driven by US data and the dollar
Gold is especially reactive to US news such as Non-Farm Payrolls (NFP), CPI inflation data and Federal Reserve (FOMC) decisions. These can cause sudden, large moves — exciting but risky for beginners.
Gold trading strategies for beginners
Trend following. Gold trends strongly. Identify the direction on a higher timeframe, then enter pullbacks in that direction. “The trend is your friend” applies well to gold.
Breakout trading. Gold often consolidates, then breaks out sharply. Mark key support and resistance levels and trade the break, with a stop on the other side of the level.
Range trading. In quiet periods gold bounces between support and resistance. Buy near support, sell near resistance, and stop out if the range breaks.
News and safe-haven moves. Advanced traders position around risk events. Beginners should usually wait until after the volatility settles rather than guessing the direction.
Pick one strategy, practise it on demo, and master it before adding more.
Risk management for gold
Gold is more volatile than most currency pairs, so risk control is essential:
Risk only 1–2% of your balance per trade. On a $500 account that’s $5–$10 of risk — which means small positions and sensible stops.
Always use a stop-loss. Gold’s fast moves can be brutal without one.
Respect leverage. 1:100 is powerful; using the maximum on every trade is the quickest way to lose an account.
Size from your stop, not your margin. Decide how many dollars you’ll risk, divide by your stop distance, and that gives your position size.
Avoid trading right into major news until you have experience.
Common gold-trading mistakes to avoid
Using too much leverage and oversizing positions
Trading without a stop-loss
Chasing price after a big move instead of waiting for a setup
Ignoring the US dollar and interest-rate backdrop
Revenge trading after a loss
Why trade gold with SCapitalFX?
Tight gold spreads from $0.08 on a Raw account
Leverage up to 1:100 and micro lots from 0.01
Fast crypto funding — start with USDT, BTC and 50+ coins
A free demo so you can practise gold trades risk-free first
Risk warning: Trading gold and other CFDs on margin carries a high level of risk and may not be suitable for every investor. Gold can be highly volatile and you could lose some or all of your invested capital. Never trade with money you cannot afford to lose.
Frequently asked questions
Is gold (XAU/USD) good for beginners?
Yes, with care. Gold trends well and is easy to follow, but it is volatile — so start with micro lots, use a stop-loss, and practise on a demo first.
How much money do I need to start trading gold?
You can open an account from $10, and a 0.10-lot trade needs only around $30 in margin at 1:100. For comfortable risk control on gold, a slightly larger balance gives your stop-loss more room.
What does it cost to trade gold?
From about $14 round-turn per standard lot on a Raw account ($8 spread + $6 commission), or about $25 on a Standard account (spread only, no commission).
What leverage can I use on gold?
Up to 1:100, meaning roughly 1% of the position value is needed as margin. Higher leverage increases both potential profit and potential loss.
When is the best time to trade gold?
The London–New York overlap (about 13:00–16:00 GMT) is the most active. Gold also moves sharply around US data like NFP, CPI and Fed decisions.
Can I trade gold on my phone?
Yes. You can trade XAU/USD from the SCapitalFX mobile app with live charts, multiple timeframes and instant execution.
Can I make money when gold falls?
Yes. Because you trade gold as a CFD, you can go short (sell) to profit from falling prices, just as you go long (buy) to profit from rising prices.
Is XAU/USD the same as spot gold?
Yes — XAU/USD is the spot price of one ounce of gold in US dollars, which is what you trade as a CFD here (no futures expiry to worry about).
Your trading app is where everything happens — placing trades, reading charts, managing risk and funding your account. A slow or clunky app costs you money. So what actually makes a good forex trading app, and how does the SCapitalFX app measure up? Here’s a practical checklist.
What to look for in a forex trading app
1. Fast, reliable execution
When you tap buy or sell, the order should fill instantly at the price you expect. Slippage and requotes eat into profits. SCapitalFX uses instant execution with no dealing desk and no requotes, so your orders go through cleanly.
2. Powerful but clear charting
You need enough tools to analyse the market without drowning in complexity. The SCapitalFX app offers 9 timeframes and 8 built-in indicators — enough for real technical analysis, presented in a clean mobile-first design.
3. A wide range of instruments
A good app lets you trade more than just a few pairs. SCapitalFX gives you 34 instruments across forex, metals, indices, energy and crypto from one account, with leverage up to 1:200.
4. Easy, low-cost funding
Funding should be quick and affordable. SCapitalFX supports crypto deposits with 50+ coins (USDT, BTC, ETH and more), so you can fund in minutes — see our crypto funding guide.
5. Low entry and transparent costs
You shouldn’t need a big balance to start. SCapitalFX accounts begin from $10, with a choice of Standard or Raw Spread pricing so you only pay for what you need.
6. A demo mode
The best apps let you practice first. A free demo account lets you learn the interface and test strategies before risking real money.
7. Security and language support
Look for secure logins and an interface in your own language. The SCapitalFX app is fully localised in 14 languages, including right-to-left support for Arabic and Farsi.
Why a mobile-first app matters
Markets move at any hour. A capable mobile app means you can manage open trades, set stop-losses and react to news from anywhere — not just when you’re at a computer. For new traders especially, having charts and your account in your pocket makes it far easier to build consistent habits.
How to get the SCapitalFX app
You can download the SCapitalFX app for your device, or use the web app straight from your browser. New to trading? Start with our beginner’s guide and practice on demo before going live.
Risk warning: Trading forex and CFDs on margin carries a high level of risk and may not be suitable for every investor. You could lose some or all of your invested capital.
Frequently asked questions
Is there a free demo on the app?
Yes. You can practice with a free demo account before trading real money.
What can I trade on the app?
All 34 SCapitalFX instruments — forex, metals, indices, energy and crypto — with leverage up to 1:200.
Can I fund the app with crypto?
Yes, with 50+ cryptocurrencies including USDT, BTC and ETH. See the funding guide.
