Using VPS (Virtual Private Server) for Forex trading is a great way to keep Expert Advisors running, connect to your trading platform from anywhere, have a backup that allows trades to keep going even in the event of a power outage, add security, and reduce the chances of slippage and re-quotes thanks to much faster connections.
It does cost money to use these features – most traders are likely looking to use VPS for the lowest, most reasonable price possible. There are some low-cost providers out there, but traders need to be sure that they are using a good provider that offers all the necessary benefits that should come with the software. In this article, we will cover some of the most important qualities you need to be looking for when choosing a VPS provider.
Performance
Uptime and speed are two of the main advantages of using VPS; however, a larger number of users could slow down the provider’s overall performance drastically. Your VPS provider needs to have a great uptime record as proof that their servers are up to the task. An uptime record of around 99.99% is a good sign that things will run smoothly. Some even monitor their servers 24/7 to offer more reliability.
Technology
Microsoft Windows servers run on Hyper-V technology, while Linux-based operating systems run OpenVZ for the best stability. If a VPS provider offers some other type of technology, then you should look elsewhere. Security is another important quality.
Compatibility
Most VPS works with MT4, but you’ll need to ensure that your VPS service will work with your broker, supported trading platform, and any EA. Look for “works with all brokers” or some similar description on the provider’s website.
Price
Many providers offer multiple price plans so that users can save money doing away with features that they do not need. That can leave one with a price of $3 and some change per month for the cheapest plan, while users that need the best packages might spend around $15 to $30 per month. More expensive plans typically cover more terminals, Expert Advisors, etc. Many traders prefer to pay for services with PayPal or a debit/credit card. Bitcoin, Payza, Skrill, and Webmoney payments are usually accepted as well.
Conclusion
While VPS may not be for everyone, it can serve several purposes and help Forex traders to connect remote devices to their platform, experience increased speed and reliability, etc. Overall performance, uptime, technology, compatibility, security, and price are some of the key things that users should check out when searching for a VPS provider. You’ll also need to check for other necessities, like a dedicated IP address, remote desktop access, as well as iPhone/Android access, etc. Once you’ve found a provider that offers all these things, you can compare price plans and figure out which package is the best fit for your trading style.
