Forex works round the clock and has no definite location. Traders from around the world trade there. They live in different time zones. When it is 21:00 in London, in New York – 16:00. The question arises: what time is displayed in the terminal and what is MT4 time zone actually?
This time does not depend on wall clock. The time in trading platform is set by the broker providing the terminal to clients. Each brokerage company sets time according to GMT. It can be GMT+1 or, for example, GMT+2. Some brokers work on Eastern European Time (EET) and turn clocks forward one hour in the spring and back one hour in the fall. Time inside the terminal changes automatically with the clock change.
Both trading sessions and transactions are opened/closed, and the trading history is displayed according to the time in the terminal. To determine the time of the market opening in your time zone, compare time in MT4 with your local time, as they may not be the same.
How to find out the time in MT4? The time is displayed in the “Market Watch” window. You can’t change the time in MT4.