GMT Offset

How to set?

Most of the forex robots (expert advisors) have some time restrictions in their trading strategies (algorithms). This is required because the foreign exchange markets around the world open and close at different time.

Of course, this has impact on the market prices, volatility of the market, trading volume and so on – factors which are very important for one profitable trading strategy. For example some trading strategies start trading during the Asian session other during European session.

Others may stop trading during these sessions. All depends on the trading techniques integrated in the forex robots.

To properly set GMT Offset of YOUR BROKER (do not confuse with GMT of your computer or vps) need to follow the instructions below:

1. Look at the clock in MetaTrader (top left in the “Market Watch” window).

(If you do not see, tap the combination of buttons Ctrl  + M)

In the MT4 terminal you see the current time of your broker.

Now we need to understand the difference from the 0 meridian, that is, from GMT=0.

2. Go to site:

https://greenwichmeantime.com/what-is-gmt/ (or another, which shows the time in GMT=0)

This site shows time GMT=0. In this case it’s London time.

3. Compare the current hour of your broker and the current hour for GMT – 0  that you have looked at sites in paragraph 2.

Exemplary embodiments of calculation:

-Current time is GMT0 (London on site) = 9:30 (24 hour format) – current time is your broker 11:30 it means that your broker has 2 hours more than GMT0, summarize your broker GMT Offset = 2

-Current time is GMT-0 (London on site) = 9:30 (24 hour format) – current time is your broker 10:30 it means that your broker has 1 hours more than GMT-0, summarize your broker GMT Offset = 1

-Current time is GMT-0 (London on site) = 9:30 (24 hour format) – current time is your broker 9:30 it means that your broker has 0 hours more than GMT-0, summarize your broker GMT Offset = 0

-Current time is GMT-0 (London on site) = 9:30 (24 hour format) – current time is your broker 8:30 it means that your broker has 1 hours less than GMT-0, summarize your broker GMT Offset = -1 etc