Which FX Market hours?


#1

Hi Revolut,
As i read, there is a charge to withdraw money for outside of the FX market hours. And when I check these hours, there are different markets.

My account is Europe based and I will travel to Indonesia. Then which hours are FX hours (in Indonesia)? What are the opening/closing/weekend hours?

I have no clue.

Best,


#2

The fee is charged if the exchange happens on the weekend (or bank holidays), UK time.


#3

Thanks!

So you mean, according to London (GMT+1).

It seems FX hours from 7:00 am to 4:00 pm (GMT+1). And i will watch out these hours.

Are you sure or is this your assumption?

Best,


#4

This is true. Revolut uses the gb market. It is explained in the help centre.


#5

Revolut say (in their FAQs) that the forex surcharge is applied from midnight Friday to midnight Sunday, UK time.


#6

Could you share where you found the timezone? https://www.revolut.com/help/getting-started/exchanging-currencies/what-foreign-exchange-rate-will-i-get does mention the time window but no timezone.


#7

Hey alessandro,

It is not something that i found on revolut help: https://www.babypips.com/learn/forex/forex-trading-sessions

I just read FX hours on payments and fees and try to understand what is that.

According to link you shared, it seems only in weekend hours, UK time, is outside of market hours.


#8

Sorry not in the help centre.

The terms at revolut.com/terms have a section that defines different Definitions.

My understanding is there for that the market opening depends on the time London timezone.


#9

Also in this thread it was mentioned by Andreas that it is in fact GMT (London time)


#10

The FX markets are liquid from Monday 7am Auckland to Friday 5pm New York.

Although I’m puzzled as to why Revolut has no prices for all of Friday (00:00 to 23:59), as stated in the quote above.


#11

Revolut operates from London in GMT and their fx market is in GMT time not New York time.


#12

Since then, they might have corrected the initial cause for puzzlement.

Help Center says

During the weekend (Friday 23:59 - Sunday 23:59) as the Forex markets are closed, we take the rate from Friday 23:59 and apply a markup …


#13

As the FX markets are illiquid (with no price) between Friday 5pm New York and Monday 7am Auckland, then nobody can get a tradable price, not even Revolut. This global market’s opening and closing is determined by two other time zones; therefore GMT is irrelevant to Revolut’s ability to obtain a tradable price and offset its risk in real time.


#14

Should be added the time in the app
With the local time, so you have a better understanding, if you are in Asia somewhere or anywhere