Best Time To Trade From Nigeria

Nigeria shines as an economic leader in Africa, with a growth rate of 3.5% and a GDP reaching $440 billion. For traders operating out of Nigeria, it’s essential to know the best times for trading. The consensus among traders is that the opening and closing times of major trading sessions represent the prime opportunities for trading.

Nigeria is situated in West Africa, aligning with the West Africa Time Zone (WAT). This time zone is one hour ahead of Coordinated Universal Time (UTC+1). In terms of the global time date line, Nigeria is significantly to the west of the line, which mainly affects countries in the Pacific Ocean. Being in the UTC+1 time zone places Nigeria in a favorable position for trading with various global markets, especially those in Europe and the Americas, due to the overlap in trading hours.

In this blog post, we’ll explore the opening and closing times of these key trading sessions, all tailored to Nigerian local time, to equip traders with the insights needed to effectively engage in the markets.

What is the best time to trade from Nigeria

In Nigeria, trading effectively often involves capitalizing on the periods when major Forex markets open, close, or overlap, aligning with the Inner Circle Trader’s concept of “kill zones.” These are the times when market liquidity and volatility are higher, potentially offering more trading opportunities.

Sydney and Tokyo Overlap: The Sydney session starts at 10 PM Nigerian time (WAT, UTC+1) and the Tokyo session starts at 12 AM Nigerian time. The overlap occurs between 12 AM and 7 AM Nigerian time, when both markets are open.
Tokyo and London Overlap: The Tokyo session ends at 9 AM Nigerian time, and the London session begins at 8 AM Nigerian time. Therefore, there is a brief overlap from 8 AM to 9 AM Nigerian time, when both the Tokyo and London markets are open.
London and New York Overlap: This is one of the most significant overlaps for traders in Nigeria. The London session starts at 8 AM and closes at 5 PM Nigerian time, while the New York session starts at 2 PM and closes at 10 PM Nigerian time. The overlap period, from 2 PM to 5 PM Nigerian time, is crucial for traders looking for high liquidity and volatility.

These overlapping periods are pivotal for Forex traders in Nigeria, as they represent times when trading volumes are at their peak due to the increased activities from both sessions that are in operation.