Weekend Curve FX fee times

Hi all

Is the weekend FX charge based upon UK time or local time in the country/region the transaction is being made?

Ts&Cs say it starts 23.59 on Fridays but not sure if this is the time in London or where I am.

Support told me UK time

Hey there @joepatr :wave: Welcome to our Community!!

The weekend FX times are always based on the UK GMT time, not on your local time zone.

Hope this helps! :sunglasses:

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It is still not exactly clear.

UK time and GMT are not the same. There is no daylight savings in GMT, so in the summer the UK is actually on BST, which is one hour ahead of GMT.
So which is it, UK time (GMT in winter and BST in summer) or GMT all year?

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@Curve_Herman, is it UK time or GMT? The UK is currently on GMT+1 (British Summer Time), so there’s a difference.

Also why does this period not correlate to the period when the FX markets are not trading, which is Friday 17:00 New York to Monday 07:00 Auckland?

What about japan trading?
Hong Kong

Do alle have to follow the US time?

No, the FX markets stop trading at 5pm NY on Friday, and reopen at 7am Auckland on Monday. Only one of these times is US time.

NY 17:00 is 22:00 BST, and 7:00 Auckland is 20:00 BST. So you gain a few hours on Friday and lose some on Monday. Not a problem per se, but unnecessarily complicated - you have to track the UK time while travelling. At least there could be some sort of indicator in the app.

Strange
So EUR to DKK
Follow US time

First time i hear that

In what way do you perceive that EUR/DKK follows US time? New York is the last financial centre to trade any currency pair on a Friday before trading stops for the weekend. That doesn’t mean that the currency pair follows US time.

Not always. 17:00 NY is 21:00 or 22:00 UK time depending on the time of year, and 07:00 Auckland is 18:00, 19:00 or 20:00 UK time, depending on the time of year.

I dont uderstand the trading system

It’s simple. Traders stop trading at the close of business on Friday and start again on Monday morning. Like most people, they don’t work at weekends.

Curve are just weird?
On weekends, which we count as Friday 23:59 - Sunday 23:59, the UK foreign exchange markets are closed. During this time, we take the rate from Friday 23:59 and charge an additional 0.5% for all transactions made in GBP, EUR and USD and 1.5% for all other supported currencies.

Or revolut?
If you exchange currencies on weekdays (Mon-Fri UTC) you will receive the interbank exchange rate without any markup on all currencies

None of them are following the traders work time

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Yes, that’s my point. There’s no logic to this at all. Despite repeated requests, neither Curve nor Revolut can explain.

That’s why i don’t understand any of this :innocent: