Forex trading on weekends? LMAX launches the Weekend FX service

LMAX, British Forex brokers operating under a stock market license, announced that it is launching the Weekend FX service. Thanks to this, users will receive access to Forex quotes as well as the opportunity to trade (!) On Saturdays and Sundays.

FX Weekend - End of Sleepless Saturday Nights!

How many times, leaving an open position for the weekend, have you ever wondered how the new week will start? Will the gap not cut yours stop losses or won't they jump? LMAX has finally decided to answer these traders' problems. The new service will enable transactions to be made outside the "traditional" market hours. Trading will be based on the institutional infrastructure of the exchange.

Thanks to this solution, traders will not be forced to wait helplessly for market reaction until Sunday evening in the event of another Trump tweet, OPEC meeting or G20 group.

What FX weekend will look like:

• Access to institutional weekend quotes will be provided to both institutional and retail investors,
• Initially, only the major currency pairs will be available, but more will be added over time,
• Access to quotes as well as the possibility of concluding transactions will be active in the Weekend FX service within LMAX Global accounts (FCA regulated broker) from Friday at 23:05 to Sunday at 23:00 according to UTC + 2 time.

David Mercer, president of the LMAX Group, comments:

David Mercer, CEO of LMAX.

“The last few months have reinforced the popular belief that volatility does not end on Friday night and that risky events now extend beyond the working week. As a result, the current trading session does not reflect the growing need of market participants to access foreign exchange liquidity 24/7 to exchange risk - this puts significant pressure on the foreign exchange market to follow the times and become fully accessible seven days a week."

The British broker expects that the Weekend FX service will meet with great interest of traders, not only institutional but also retail. Is this the beginning of a new quality and in the near future we can expect weekend breaks to cease to exist? This is not known, but the first step in this direction has just been made.

Mercer adds:

“More broadly, LMAX Weekend FX is the first step towards all asset classes and markets that open up to continuous trading and move to full, open market access. In the near future, we will want to expand our offer to other currency pairs. "