Does forex close on weekends

GMT and EST hours for trading Forex Forex market welcomes traders 24 hours a day. I noticed that the FTSE daily is open on IG before even the UK market was open? I thought FTSE opens 08:00 GMT and closes does forex close on weekends:30GMT?

The spread on IG Index before the market opens is about 6 but comes down to 2 when the market opens. The spread betting providers will constantly adjust their prices based on the overnight movements on these 24 hour global markets. Did the market really open at 5279 and if the FTSE is a reflection of the price of the constituent share prices just how does this out of hours trading work? I can understand the market makers pricing the shares down on opening but what ’causes’ the out of hours prices to be so different from the previous day’s close without the FTSE data having been available? A: In short, although the FTSE is a ‘reflection of the price of the constituent share prices’, the FTSE market the spread betting companies offer is slightly different. Their spread reflects what they think the future price of the FTSE will be. Let me give you an extreme example.

Now, you think the FTSE is going to open at 5279 so you can short it and obviously the FTSE is going to drop dramatically given the news – everyone knows this, everyone expects it. Well, a good guess is the price you see on IG index just before the open. BP before you can trade it – and they will do this probably with a barrage of sell orders from people looking to sell. And also, the spread betting companies show a price well below your 5279. The open hours really only show you a small part of the day. So during the day the spreadbetters FTSE price is the futures price adjusted for cost of carry to give the ‘cash’ price. Add to this a bit of adjustment for the house position if required.