Forex broker server time is about the time frame on which a broker’s server is based. Depending on a broker’s server time, traders are offered different number of candle stick during the week representing the number of trading sessions per week. When it comes to forex broker server time, there are three main types;
Forex broker server time that is based on GMT +2 usually offer five candlestick in a week; which is how much candlestick can be offered per week within that server time. Each of these candlesticks represent each of the five days of trading sessions in a week. Forex broker time servers of this sort follow the GMT timings of 5PM EST as the opening. Each opening lasts for as long as one trading session, at the end of which is another opening of a new trading session right about the same time.
It is entirely up to a broker to decide to base server time on either GMT +2 or GMT +3. This is because the two server time has a whole lot in common. Just like the GMT +2 server time, GMT +3 offers five candlestick in a week, each of which represents one day trading session for the five day trading sessions there are in a week. Brokers that use this time server also open at 5PM EST.
The GMT time server does not have much in common with the other two. In the case of the GMT time server, six candlesticks are offered by the brokers in one week. The extra candlestick in this case represents the Sunday trading session. The Sunday trading session is an additional trading session that comes only with the GMT server time, as is the case with GMT brokers. However, not all GMT brokers offer the extra candlestick which should be the case with GMT server time. Rather, they offer five candlesticks like the GMT+1 ANS GMT+2 server times. They exclude the Sunday candlestick in order to maintain the customary five day trading week.