More and more people are getting into the forex trading business. They see the earning potential of the business and its long-term trading opportunities. Would-be traders have to learn and distinguish good trades from the bad. If they’re doing online forex trading, they need the most advanced technology possible.
Automation is what traders aim for in an online forex trading business. Good trades can happen at any time so they can’t afford to avert their eyes from their trading software. Good thing that there are now lots of ways to do this setup. A trader needs a fast computer and Internet connection for this to work. But, another component would complete the setup and that’s a Virtual Private Server.
This article will discuss the importance of a VPS for forex traders and why most of them use it.
What is VPS?
A VPS is a hosting provider for online businesses to use that has to be online every time. It is better than shared hosting because of the freedom that a user has when using it. It uses a large data center located near the places where brokers are. This allows them to provide better service. Traders should choose a VPS provider near places like New York and London. This is because all the forex trading action happens in these places.
One important factor a VPS provides to users is the full control over the “partition” of the server. They can install whatever program or software they want. This means they can use their chosen trading software. They can install important security programs as well.
Traders invest their hard-earned money in trading so security is necessary. These options aren’t available in shared hosting wherein users use host-provided software. Aside from the software and programming side, VPS helps in another factor: Continuity.
The most-hated obstacles of traders are power failures and slow Internet connections. Their trading software must be online every single time so a power failure is not acceptable. As for the Internet connection, if it is slow, it can cause slippage. It is the time between the software enters/exits the trade and the trader’s actual acceptance of the trade.
Lots of good trades go to waste because of these two factors. A VPS would solve these problems and more. Virtual Private Servers connect to a trusted power grid to ensure continuous service. No shutdowns or blackouts whatsoever.
A VPS also takes care of the Internet connection. These servers only connect to the fastest connection possible. Their connections are at least 1 GBPS. Support is also ready to assist traders if ever an issue arises during operations.
As mentioned earlier, a VPS has no shutdowns or blackouts. This means it is online 24/7 so the trader can automate everything and do other things. They would never miss any good trades because of a VPS’s non-stop service.
Traders can also place Expert Advisors to handle the trades and trading patterns. The trader would only need to check their software from time to time. If the trader doesn’t have a trading software of their own, it’s not a problem with VPS. Most VPS providers already have MT4 or MT5 installed in their system.
Choosing a VPS provider
The normal things that a trader looks for in a VPS provider are the security and efficiency of the system. Researching for the best one must always come first before making the decision. Other factors include the operating system and configurations.
Operating system
Most VPS providers run on Windows while some, on Linux. Both systems have their advantages and disadvantages. The trader must decide what they can handle between the two. Windows is the most common choice for usability but Linux is cheaper. Choosing an OS depends on the knowledge that the trader has for these systems.
Configurations
It is normal for a trader to choose a VPS provider that they can configure without any hassles. It has to be tailor-fit for their needs as well. Factors include the required RAM, backup options, data transfer, and so on.
VPS plans
Traders also have to decide on what VPS plan to get. They can either opt for specialist VPS hosting or a regular VPS host. Specialist VPS hosting focuses on forex trading. Regular VPS is for any business type. Traders would benefit more from specialist VPS hosting because of what they provide. This includes Expert Advisors, specialized trading software, and better support.
Price
Not all VPS plans have the same price. Traders should check each providers’ strong points and offers then decide. It doesn’t matter what the price is since it is a worthy investment. What matters is that the VPS could provide what they need. If this is possible, the price is of no consequence.
Forex trading will make any trader earn lots of cash as long as they know what to do. They also need to have the right technology for the business. Getting a VPS is the best decision that they can do for their business.