Greenwich Mean Time (GMT) also known as Coordinated Universal Time (UTC) is used worldwide as the official time reference.ÃÂ Time zones are expressed like UTC -3h or GMT -3h, where the "-3h" refers to that time zone being three hours before UTC or GMT. On the other hand, UTC +3h or GMT +3h would refer to that time zone being three hours after UTC of GMT. The difference in time between aÃÂ Forex brokerÃÂ local time and GMT (UTC) is calledÃÂ BrokerÃÂ GMT offset.
Every Forex broker companyÃÂ has its own GMT offset, while many Forex robots likeÃÂ Volatility Factor EAÃÂ are GMTÃÂ dependent, theyÃÂ need to get GMT offset to be set correctlyÃÂ to trade properly and show good results.
Some trading strategies in other Forex robots likeÃÂ Forex DiamondÃÂ don't require GMT offset to be set in the robot'sÃÂ settings for live trading, instead this might be needed just forÃÂ backtesting!ÃÂ
In Forex robot strategies usingÃÂ News Filter as in Happy Market Hours, Happy News and Forex Combo System, setting the correct GMT offset is so importantÃÂ otherwise the robot will be unable to detect the right time for the news and events occurrence.
TickmillÃÂ MT4ÃÂ server time will be changed toÃÂ GMT+2ÃÂ according to New York DST on theÃÂ 4thÃÂ of November 2018, so set your Forex robotsÃÂ correctly!