Forex can be traded on weekdays, but can it be done on weekends? There are some rules you should know when using XM on weekends and holidays. Because XM is not open 24/7. Forex is similar, there are working days and holidays, so traders must be aware of the difference.
- FX is closed on Saturdays and Sundays, and trading is possible on holidays.
- XM can open an account even on Saturdays and Sundays
- Payment cannot be made outside trading hours
- Beware of “window opening”
- Trading possible on public holidays
- Support for XM window
FX is closed on Saturdays and Sundays, and trading is possible on holidays.
First, I will introduce the trading hours of XM. Trading with XM is only possible during the following times. Normally, transactions other than virtual currencies are not possible on Saturdays, Sundays, and holidays in Japan time. Withdrawals will also be stopped if you use bank transfer. Check the list below. The market closes at the end of Friday. On Saturdays and Sundays, we recommend virtual currency. It will open on Monday.
|Summer time (April-October)||Monday 6:05-Saturday 5:50|
|Winter time (November to March)||Monday 7:05-Saturday 6:50|
Depending on the daylight saving time and winter time, you can basically not trade forex or CFD instruments on XM from early Saturday morning to early Monday morning. New positions cannot be entered. Not only XM but also any Forex trader cannot trade foreign exchange or CFD products on Saturdays and Sundays.But cryptocurrencies are an exception. This is because cryptocurrencies can be traded 365 days a year.
Saturday and Sunday holidays are not only a Japanese culture, but are also similar in America, Europe (UK, France, Italy, Germany, Switzerland, etc.), Canada, Australia, New Zealand, etc.
XM can open an account even on Saturdays and Sundays
XM allows you to open an account even on Saturdays and Sundays. You can trade in stocks, foreign exchange, cryptocurrencies, stock indices, energy, precious metals, and other markets. There are over 100 products in total, so it’s very complete. Ordering is very smooth, and information is posted on the official website from time to time. The server is strong and there are no major problems. Maximum leverage is 1000x, and additional accounts can be created.
Payment cannot be made outside trading hours
Outside of XM’s trading hours, the charts of the trading platforms MT4 and MT5 do not move. Please note that MT4 and MT5 are not working on Saturdays and Sundays because the market is closed, not because they are broken.
During this time, you cannot close existing positions or make new entries. This is common to all financial products and is important, so if you are worried, it is important to settle the payment early on Friday.
Beware of “window opening”
Holding the entered position over the weekend is called “carrying over the position”. At XM it doesn’t matter how long you have held a position. However, when you have a weekend in between, you need to be careful about “window opening” on Monday.
If a “window opens” occurs, the price will rise above the stop-loss line at the beginning of the week, and there is a possibility that your position will incur a large loss. Therefore, most traders close their positions by midnight on Friday. Each country has summer time and winter time, so be careful of time differences.
Trading possible on public holidays
You cannot trade on XM on Saturdays and Sundays, but you can trade on holidays in the same way as on weekdays. Globally, it is a weekday and the markets are operating as usual.
On holidays, you need to be careful of sudden price movements, such as being sold at once by overseas institutional investors.
There are also economic indicators
Whether it’s a public holiday, there are also economic indicators. Public holidays vary depending on the country, so it doesn’t matter. Depending on the time of year, the market can be rough, regardless of exchange rates or commodities. The disadvantage is that there are especially many indicators in the United States, and if you don’t know them in advance, you could end up losing a lot of money. High price fluctuations occur within a day. The London and New York markets, which are on Western time, are particularly volatile.
The Christmas season will affect both support desk and trading. It becomes irregular from around December 25th and December 26th. Please note that business days may vary depending on the region. Live chat stops, and there are days when I can’t trade at all on my computer or app even on weekdays.
Golden week response
Golden Week is a culture unique to Japan and refers to the beginning of May. This is a normal day in America and Europe, so there are no problems, the official website is up and running, and transactions are possible. Gold, silver, Brent, oil, etc. are traded without any problems. Campaigns will be applied, tools can be used, and swap points will also be generated. As a trade, trends are more likely to occur in terms of timing, so it is a good idea to follow them.
Support for XM window
XM’s customer center is open five days a week, but it is closed on Saturdays and Sundays, similar to the foreign exchange market, but Bitcoin can be traded. As a result, all account activation, email, chat, and other inquiries will be suspended.
Please note that any administrative procedures that occur in connection with this will also be suspended. All of this will be handled from the beginning of next week. Check the latest information. Please be aware that if you cause too much trouble, your account may be frozen.
Account verification will also be stopped.
At XM, there is an account verification process, but due to the way this process works, if the counter stops, it will automatically stop and be completely put on hold. It will stop completely on Saturdays and Sundays, so please wait. Additionally, the year-end and New Year holidays, New Year’s Day, and Christmas are of course not covered and will be stopped in countries around the world.
If you wish to make a deposit via bank transfer, you will not be able to send the money to XM as your bank is closed. You can complete the procedure, but if you transfer money on Saturdays, Sundays, holidays, or outside bank business hours, it will be processed on the next business day, and the deposit will be reflected on XM on Monday. Financial institutions are closed not only on Saturdays and Sundays but also on holidays. Even on weekdays, some counters will be closed from around December 25th to January 2nd.