MT4 daily candle on sunday - fxcm

[jshumaker]

I am using MT4 with FXCM as my broker. I realized that my daily charts are getting 6 candles per week M-F plus Sunday. Since Sunday only accounts for 2 hours of market activity that skews my technical indicators. I contacted them and they said that the server time is set at GMT+0 and there is nothing I can do about it. Is this a serious issue and should I consider switching platforms/brokers?

 

[LoRio]

I am using MT4 with FXCM as my broker. I realized that my daily charts are getting 6 candles per week M-F plus Sunday. Since Sunday only accounts for 2 hours of market activity that skews my technical indicators. I contacted them and they said that the server time is set at GMT+0 and there is nothing I can do about it. Is this a serious issue and should I consider switching platforms/brokers?

Jesus Christ

 

[Pharaoh]

Different brokers set their clocks differently. Guess what? If you are trading 4 hour candles or daily candles, there is NO official standard for when those open and close in forex trading. Candles existed long before 24 hour markets did.

 

[Jason Rogers]

I am using MT4 with FXCM as my broker. I realized that my daily charts are getting 6 candles per week M-F plus Sunday. Since Sunday only accounts for 2 hours of market activity that skews my technical indicators. I contacted them and they said that the server time is set at GMT+0 and there is nothing I can do about it. Is this a serious issue and should I consider switching platforms/brokers?

Hi Jshumaker,

New York Close charts are now available on FXCM's newest live MT4 server. That means your daily charts can have 5 candles per week with no Sunday candle. Note that in order to make this possible, the time zone on this MT4 server is set to GMT+2 so that midnight on the charts corresponds to 5pm New York time (AKA New York Close).

If you have an existing MT4 account with us on a server that's set to GMT, you can email admin@fxcm.com referencing your account number to request that the account be transferred to the new MT4 server with New York Close charts. Your account must be flat. Please allow a couple of business days for your account to be set up on the new server. You will receive an email with your new login details when the setup is complete.

* Please let us know your thoughts on our new MT4 server with New York Close charts. Based on your feedback, we can decide how many of our MT4 servers to keep on GMT time and how many to switch to New York Close.

** FXCM Trading Station charts have always been set to New York Close. Unlike with the MT4 platform, Trading Station allows you to display the time zone of your choice, and the daily candles will still begin and end at 5pm New York time.

Welcome to the forum

Jason

 

[BillTheButcher]

I requested a move over to the new MT4 server with New York Close charts as mentioned by Jason above.

FXCM told me that only USD accounts can be moved onto this server. My account is in GBP.

New York Close was possible for my GBP account on Trading Station so I'd hoped the same would apply to MT4.