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The UK forex broker FXOpen announced that it is switching the time on its MetaTrader4 (MT4) platform server to daylight saving on March 14, Monday. Thus the GMT offset in the MT4 of the broker will be set to GMT+3 starting from that date.
The changes apply to all types of accounts of the FXOpen clients:
– live ECN, STP, Crypto, Micro
– demo ECN, STP
– PAMM accounts
The broker advises that its clients to have in mind the change and adjust the GMT offset in Indicators and Expert Advisors to GMT+3 on March 14.
FXOpen is regulated by UK’s FCA. It offers forex and CFD trade, via ECN and STP accounts with different level of experience and investment. The minimum deposit for a live account is $300 and the leverage is up to 1:500.
The daylight saving time (DST) is the practice of advancing the clocks one hour ahead in order to use the daylight more efficiently in the summer months. Usually the switch happens in the last Sunday of March. The clocks are reverted to astronomical time in the last Sunday of October.
The idea for DST was conceived by the New Zealander George Hudson in the end of XIX century and was first implemented in 1916 in Germany and the Austro-Hungarian Empire. Currently the DST is observed in the EU countries, North America, some Australian provinces, New Zealand, several countries in South America, Namibia in Africa and several countries in Asia. Many countries across the world have abolished the DST for various reasons. Most recently this was done by Russia in 2014.