FBS has set the MT4 time zone to Eastern European, which is GMT +2(GMT+3 in DST, summer time).
Actually the time zone of the MT4 trading platform is set to GMT+2(GMT+3) by default. So the time zone should be the same in all MT4 offered by all brokers.
NY market is the central
GMT offset in MT4 is adjusted to the closing time of NY exchange market.
This make the MT4 to:
- show 5 candle sticks in the MT4 chart
- reach 00:00 when NY market closes
- occur swap charges at 00:00 in server time
It is simply convenient that the time zone is set to GMT+2.
Server time changes
You can not change the MT4 server time, but it is always set to GMT+2 in every single broker.
Although, there are some EAs to change the display time to your local time though, these are not offered officially from MT4.
*The ECN trading platform, cTrader offers the option to change the display time by default.
MT4 changes its server time 2 times a year, as 00:00 in MT4 is always adjusted to the time of NY exchange market closing.
GMT+2 to +3 happens when NY time applies DST to its region.
You can expect the date of time changes by checking up the NY summer time period.