If forex is 24/7, what happens when brokers close?

Hello fellow forexers!

I have a (hopefully) quick question. Everyone says Forex is 24/7, but all brokers seem to close from Friday evening to Sunday evening. If forex is 24/7, what happens to the price when they're closed?

Metatrader brokers do have gaps many weekends, and I assume this is where the price got to over the weekend, but some other brokers (the one beginning with O and ending with A for instance ) seem to just pick up exactly where they left off.

If price does continue to move how can I find out what it's doing, and most importantly, what is moving it if there are no brokers?

Thanks in advance!

Seavo

forex is 24/5

Thanks Merlin!

You're faster than Googling

Now on to figuring out how to use this info......


Seavo

some broker 5's might be a little longer than others.

yeah for example oanda is 24/7, although the markets are fairly dead on weekends, and the spreads are increased very high, you can still trade, the spreads go up friday evening and come back down sunday evening.

Hi Seavo,

Gaps in Stock market happen due to After Market trading, those are orders placed by customer after market is closed and they remain in pending stage until the market is open the next day. If too many orders piled up on one of side then we see the gap.

Since Forex is not a centralized market each broker could have a different opening price depending on where they get their liquidity from. I've come across days when I've seen 90 pips difference between brokers

Regards,
FirePips