Simplify Trading, Magnify Rewards
Trading begins at 00.00 on Monday and ends at 23.59 Friday (MetaTrader Time). You should keep in mind that Our MT4 is set to Eastern European Time (EET). Midnight in this time zone coincides with the New York closing time (5pm EST).
Volatility of each currency pair changes throughout the day, while quotes movement become more intense when important new pieces come out.
Please note that Server Time is subject to Daylight Saving Time (DST), which begins on the last Sunday of March and ends on the last Sunday of October. Eastern European time: GMT+2 winter; GMT+3 summer (DST)
PACIFIC SESSION – AUD, NZD are the most active currencies;
ASIAN SESSION – JPY, AUD, are the most active currencies
EUROPEAN SESSION – EUR, GBP, USD, CHF, JPY are the most active currencies;
AMERICAN SESSION – USD, CAD, GBP, JPY are the most active currencies;
Overnight Position Rollover Policy
Rollover is the process of extending the settlement date of an open position (i.e. date by which an executed trade must be settled). The forex market allows two business days for settling all spot trades, which implies the physical delivery of currencies.
In margin trading, however, there is no physical delivery, and so all open positions must be closed daily at end-of-day (0:00 EET) and re-opened on the following trading day. Therefore, this pushes out the settlement by one more trading day. This strategy is called rollover.
Rollover is agreed on through a swap contract, which comes at a cost or gain for traders. Cooper Markets does not close and re-open positions, but it simply debits or credits trading accounts for positions held open overnight, depending on the current interest rates.
Cooper Markets debits or credits clients’ accounts and handles rollover interest at competitive rates for all positions held open after 0:00 EET, the daily bank cutoff time.
Although there is no rollover on Saturdays and Sundays when the markets are closed, banks still calculate interest on any position held open over the weekend. To level this time gap, Forex Markets applies a 3-day rollover charge on Wednesdays.