Forex traders need to have powerful computers to run their MT4 or MT5 trading platforms. They also need a high-speed internet connection to ensure there are no delays in executing trades or retrieving forex signals. Since every trader also needs expert advisor software as well as automated algorithmic strategies 24/7/365, a reliable forex hosting service is needed. To get the best cheap forex VPS hosting service, there are a number of factors that traders have to consider. They include;
i) Cloud vs Dynamic VPS
There are two types of virtual private servers or virtual computers. There is dynamic VPS and cloud VPS. Dynamic VPS is normally attained by partitioning the hard drive of a powerful computer to create several virtual computers. Each virtual server can be leased to forex traders as a virtual computer with specific server resources. For instance, a 10TB hard drive can be partitioned 100 times to create 10GB virtual private servers sharing the RAM, processing power and bandwidth of the server. With cloud VPS, the resources of multiple servers are harnessed and sold in a metered service, just like any utility. If you need 5GB of server storage space, that is what will be provided to you, and that is what you will pay for. Both dynamic and cloud VPS hosting plans have pros and cons that you should weigh before making a decision.
ii) Reliability
The reliability of a hosting service or server up-time guarantee provided by different hosting companies should be considered. You do not want your hosting service to be down at any time as you can make huge losses in your forex trades. You may also not be able to use an effective forex strategy when you trade. Therefore, you should compare the reliability of different firms and give special consideration to hosting services with a server up-time guarantee of around 99.9%
iii) Server Resources
When looking for a suitable hosting package, one of the key factors to consider before making a decision is the server resources provided by the company. You want to be hosted on a powerful server with over 16GB RAM, 8 processing cores on the CPUs as well as a huge bandwidth. Be sure to compare the server resources that come with different VPS hosting plans before making a decision.
iv) Cost
Obviously, you are concerned about the cost of the hosting service. This is because forex trading usually comes with low margins, so you have to trade frequently to make meaningful returns. Therefore, you do not want to spend more money than necessary on the hosting service. For this reason you must compare the monthly and annual hosting fees quoted by different firms before making a decision.
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