Imagine having the ability to run your forex trading system 24 hours a day, even while you’re asleep and your computer is turned off, or log in to your platform from anywhere in the world. Sounds awesome, right? Well, thanks to a VPS, this can be made possible!
What is a VPS?
VPS stands for virtual private server, which can host its own copy of an operating system that can be accessed from practically any other computer. This is very similar to web hosting servers that store all the data (text, photos, videos, music, etc.) for a particular website that can be viewed from any desktop or laptop with an internet connection, except that a VPS actually hosts a copy of your machine. Cool, huh?
What is it for?
There are numerous uses for a VPS, particularly for businesses and individuals who need to access their computers remotely instead of lugging the machines around everywhere they go. This can be useful for a programmer who has a desktop for work but would like to be able to check how their code or software is running from various locations even without having to buy a laptop.
Having a VPS is also beneficial for a company that is trying to test a system out continuously throughout an entire week but is worried about keeping their machines running nonstop, racking up excessive electricity costs and possibly getting burned out.
How can it be used in forex?
A VPS can be a good option for a forex trader who would like to keep his mechanical system running and ready to take trade signals while the markets are open, without having to keep his eyes glued to the screen at all times or even leaving his PC or laptop on the entire time.
Another practical reason to use a VPS is the ability to access it remotely, which is beneficial for forex traders who travel frequently or would like to check on their account and trading system from anywhere and through almost any device. Not all brokers offer mobile trading platforms or web-based ones, but having a VPS can allow you to manage your account just as you would on your usual trading desk.
Most VPS providers also offer a dedicated power supply, which means that you can be able to rely on your machine to keep your forex system running even when power goes out in your area. No need to panic when your internet connection decides to take a time out or if a power outage occurs!
VPS systems typically come with good security features, as the companies that manage these systems often have measures in place to check if the servers are functioning smoothly and even provide backup to guarantee reliable uptime. For some forex traders, VPS trading sometimes results in faster trade execution and fewer delays, which means less slippage.
There you have it, ladies and gents! In the next part of my tutorial series on forex VPS hosting, I’ll give you a step-by-step process on how to set one up through Metatrader. Stay tuned!