As far as I know NZ is the earliest open of a new week. I know Monday 9AM NZ time, NZ banks open but I'm seeing someone trading earlier than that. Like, I know some NZ banks open at 8:30AM. Anyone have some accurate info on this?
It's an otc market. If you want you can start quoting on Saturdays or Sundays. Otc cash fx does not care about when the white shirts get into the office. It starts when some meaningful counterparties are getting ready to do some trading. And that happens around 9am in Wellington on Mondays. Not because 9am is a nice round number. When traders are in earlier and supply and demand meets then trades are printed earlier.
Forex technically works 24/7. Banks are open Saturdays in most countries till noon and if you take in account time zones it goes the whole day until banks close in California. Middle eastern banks start their week on Sunday so..... Now because of risk exposure issues, retail Forex brokers only open with New Zealand and...... usually with a huge spread.
Forex opens 24/7 and you can start trading with any session in the world. Also banks give their services on Saturday too and you can deal them .