Forex Market Hours in Canada

The forex market opens at 5 p.m. Eastern Time on Sunday and closes at 5 p.m. Eastern Time on Friday. Since Canada observes Eastern Time in most provinces (Ontario, Quebec, and the Atlantic provinces) and Central Time in others (Manitoba, Saskatchewan, Alberta), you need to know which time zone applies to you. If you trade from British Columbia, you are on Pacific Time, which is three hours behind Eastern Time.

The market does not close completely during the week — it runs continuously across different financial centres. When New York closes at 5 p.m. ET on Friday, the market has already been open for 24 hours a day, five days a week, because trading moves from one region to another: Tokyo opens first, then London, then New York. This rolling schedule means there is always a market open somewhere, but Canadian traders can only access it during the hours their broker's platform is live.

Most Canadian forex brokers follow Eastern Time for their trading hours, even if they operate from other provinces. Check your broker's website or trading platform to confirm the exact opening and closing times they display, because some brokers may show times in a different zone or offer extended hours outside the standard market window.

Key Takeaways

  • The forex market opens at 5 p.m. ET on Sunday and closes at 5 p.m. ET on Friday for most Canadian traders.
  • Canada has multiple time zones, so you must convert from Eastern Time if you trade from the West Coast or Prairie provinces.
  • The market is open 24 hours a day during the trading week because it moves between Tokyo, London, and New York.
  • Your broker's platform may show different hours or offer extended trading outside standard market times, so verify with them directly.

How Time Zones Affect Your Trading Schedule

If you live in Ontario or Quebec, you use Eastern Time, so the market opening and closing times match your local clock. If you are in Manitoba or Saskatchewan, you are on Central Time, which is one hour behind Eastern Time — the market opens at 4 p.m. your time on Sunday and closes at 4 p.m. your time on Friday. Alberta also uses Mountain Time during most of the year, making the market open at 3 p.m. your time.

British Columbia operates on Pacific Time, three hours behind Eastern Time. For you, the market opens at 2 p.m. on Sunday and closes at 2 p.m. on Friday. The Atlantic provinces (Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador) use Atlantic Time, which is one hour ahead of Eastern Time, so the market opens at 6 p.m. your time on Sunday.

Daylight Saving Time adds another layer: Canada and the United States do not always switch on the same dates. When the U.S. has changed but Canada has not, or vice versa, the time difference between your location and Eastern Time shifts by one hour for a few weeks. Mark your calendar when these transitions happen so you do not miss the market opening or closing.

When Each Global Market Centre Opens

The forex market is divided into three main trading sessions, and each one opens and closes at a specific time in Eastern Time. The Asian session (Tokyo) opens at 7 p.m. ET on Sunday and runs until 4 a.m. ET on Monday. This is the quietest session for most currency pairs, though it can be active for pairs involving the Japanese yen.

The European session (London) opens at 3 a.m. ET and closes at 12 p.m. ET. This is when the British pound, euro, and Swiss franc see the most volume. The North American session (New York) opens at 8 a.m. ET and closes at 5 p.m. ET. This is typically the most active time for forex trading because it overlaps with the end of the European session (from 8 a.m. to 12 p.m. ET), creating the highest trading volume and tightest spreads.

If you want to trade during the busiest hours, focus on the overlap between London and New York, which runs from 8 a.m. to 12 p.m. ET. Outside these hours, spreads widen and price movement can be slower, which affects how much it costs you to enter and exit trades.

Why the Market Opens on Sunday Evening

The forex market opens on Sunday at 5 p.m. ET because that is when it is already Monday morning in Tokyo, where the Asian trading session begins. Forex trading follows the sun around the globe, and Tokyo is the first major financial centre to open each week. By the time it is Sunday evening in Canada, traders in Japan have already been working for several hours.

The market does not open on Saturday or Sunday morning because the major financial centres (Tokyo, London, New York) are closed on weekends. Even though some brokers may offer weekend trading on certain currency pairs or through special accounts, the official forex market is closed and liquidity is much lower. If you see a broker advertising weekend forex trading, understand that you are trading in a smaller, less liquid market with wider spreads and higher risk.

Holiday Closures and Shortened Trading Days

The forex market closes early or does not open at all on certain holidays. In Canada, the market is closed on New Year's Day, Good Friday, and Christmas Day. The United States observes Memorial Day, Independence Day, Labor Day, and Thanksgiving, which can affect trading volume and hours. The United Kingdom closes on Boxing Day and bank holidays, which also impacts the London session.

On days when one major centre is closed but others are open, the market still operates, but with lower volume and wider spreads. For example, if the U.S. is closed for a holiday but London and Tokyo are open, you can still trade, but the market will be quieter. Check your broker's holiday calendar before you plan to trade around major holidays, because some brokers close their platforms entirely or reduce their hours.

How to Set Reminders for Market Open and Close Times

Most trading platforms include a market calendar or clock that shows the current market status and the time until the next opening or closing. Your broker's platform should display this information on the main dashboard or in a dedicated section. Set a phone alarm or calendar reminder for 5 p.m. ET on Sunday if you want to be ready to trade when the market opens, and another for 5 p.m. ET on Friday if you want to close all positions before the market shuts down.

If you trade from a time zone other than Eastern, convert the opening and closing times to your local time and set reminders for those times instead. Many traders also use economic calendars (published by financial websites and brokers) to see when major economic announcements are scheduled, because these often cause price spikes right at market open or during the London-New York overlap.

Frequently Asked Questions

Can I trade forex on Saturday or Sunday?

The official forex market is closed on Saturday and Sunday. Some brokers offer weekend trading on certain currency pairs, but this is a separate, less liquid market with wider spreads and higher risk. Most Canadian traders wait until Sunday at 5 p.m. ET when the official market opens.

What time does the forex market open in my province?

The market opens at 5 p.m. ET on Sunday. If you are in Eastern Canada (Ontario, Quebec, Atlantic provinces), use that time directly. If you are in Central Time (Manitoba, Saskatchewan), subtract one hour. If you are in Mountain Time (Alberta), subtract two hours. If you are in Pacific Time (British Columbia), subtract three hours.

Is the forex market open 24 hours a day?

The forex market is open 24 hours a day, five days a week, because it moves between Tokyo, London, and New York. However, Canadian traders can only trade during the hours their broker's platform is live, which is typically Sunday 5 p.m. ET through Friday 5 p.m. ET. Outside these hours, the market is closed to retail traders.

What happens if I try to trade after the market closes?

If you try to place a trade after 5 p.m. ET on Friday, your broker's platform will not allow it. Your order will either be rejected or held until the market opens again on Sunday at 5 p.m. ET. Some brokers allow you to set pending orders that will execute automatically when the market reopens, but the price may be very different from what you expected.

Does daylight saving time change when the forex market opens?

Daylight Saving Time does not change the market's opening time in ET, but it does change your local time if you are in a province that observes it. When Canada switches to daylight time, the market still opens at 5 p.m. ET, but that may be a different time on your local clock. Check your broker's platform after each time change to confirm the new local opening time.