A VPS for Forex: choosing a virtual server

Forex is the interbank currency market, where good money can be made on exchange rate differences. The longer a trader sits at the computer watching the market move, the higher their chances of earning well on the exchange.

But trading currency around the clock, without a break for rest, is impossible. No PC can run correctly and reliably 24/7 either. A dropped connection, hardware failures, system errors, sudden power cuts — none of these play into a trader's hands.

How do you improve your chances of a good profit? This is where a VPS for Forex comes in, a tool configured for trading. It works on the principle of a cloud or a virtual left-luggage office, and sits on a server that is online around the clock.

As things stand today, this is the simplest and most reliable way to work without interruption and avoid losing money to unfavourable circumstances. Automating the trading process benefits any trader: set an order at the level you want and stay offline for days, because once a certain price is reached it will be executed automatically.

With a VPS, a trader can follow their trading advisor's deals from a phone or a computer. What such software can do is very wide-ranging, so a trader will be able to work the exchange considerably more effectively. Below we explain why a VPS server for Forex is needed, what advantages it has and how to choose the right one.

The main advantages of a VPS

Planning to work seriously with trading experts? Then an ordinary PC or laptop will not do and a VPS will have to be set up, because you are not insured against all manner of unfavourable factors.

A VPS for Forex has these important advantages:

1. Everyone needs rest and cannot watch the exchange constantly. With a virtual server, requests from trading robots and advisors can be accepted 24 hours a day. The server has a constant power source and will run the application even when your computer is switched off. You can be anywhere, enjoying your favourite hobby, while your business keeps working without interruption.
2. High reliability. A trader renting a VPS gets high-speed internet and independent power. Your trades will not fall through because of unforeseen circumstances such as power problems. Remember that a reliable provider always has several channels with high data transfer speeds.
3. Security. A reliable hosting company protects the VPS servers it offers against threats and the actions of attackers.
4. Mobility and simple management. Make changes to the system from any device with internet access — a tablet or a smartphone, for instance. There is no need to keep a computer permanently switched on or to carry a laptop everywhere.
5. A VPS has a flexible system of settings, which lets you install any operating system and add the functions you need.
6. A choice of product at an affordable price. Companies providing VPS services offer customers various configurations that differ in the amount of RAM, the type of OS, processor performance and so on.

Choosing a VPS for Forex: what to pay attention to

The rates for renting a VPS can differ considerably depending on the type of service. Do not hurry, and try to choose thoughtfully. It is worth finding out first how many terminals can be run on the server and how much memory they will take. More often than not, a configuration chosen at random turns out to be too weak for trading. To make the right choice, pay attention to these parameters:

1. The OS. Most trading software is built for Windows, so it is better to choose a virtual server with that OS.
2. Memory and processor specifications. They have to keep the OS and every running terminal working correctly. There should be resources to spare — at least 2 processor cores and 4 GB of RAM. It is also worth finding out in advance whether capacity can be added later as the need arises.
3. Location. Remember that the shorter the response time (the ping to the server), the faster deals are concluded, especially if the trader works in a scalping style.
4. Traffic. We recommend buying a VPS with unlimited traffic and a good internet speed.

As for price, we would not recommend economising and choosing the cheapest virtual server available. A configuration that is too cheap often lets you down outright and contributes to failures.

Connecting and configuring a VPS

To work successfully on Forex it matters not only to rent a VPS but to configure it correctly. The first thing to do is register with the provider by filling in the form offered, choose the configuration you want and pay for the purchase. After that you will receive an email with instructions.

Your next steps:

1. Start the Remote Desktop Connection utility and connect to the server.
2. Download the MetaTrader 4 program and install it. Sometimes it has to be started by hand. Once it is finished, a Forex window should appear on the desktop.
3. Install the Momentum indicator and allow the advisor to trade. Set the levels you want.

The trader is then able to monitor how the trading terminals are working from any device connected to the internet.

How do you upload files to a virtual server?

There are three main ways to upload files:

1. Download them from the site where the software you need is hosted.
2. Upload them to a file-sharing service you find convenient and then download them to the server.
3. Transfer them directly from your home PC to the server. We look at the last method in more detail below.

First you have to start the RDP client and click Show Options, then go to the Local Resources tab and choose More. A dialogue box appears in which you choose the drive the files will be transferred from to the server. After that close the window and connect to the server.

In this article we have gone through choosing and launching a VPS. To sum up: using one is not all that difficult, and any trader who can handle a PC will master it. Put trading robots to work on the exchange and earn more.