Every currency trader needs to have certain tools that can help them to effectively analyze the market. They also need tools to help them trade in currency pairs online. Before starting to trade in forex, a trader needs a web-trading platform, mobile trader, MT4 or MT5 trader. They also need some capital to start with, an active trading account and an internet enabled device. However, this is not enough. Successful traders also need best forex VPS for hosting their expert advisers and other applications. To find the best forex VPS plan, currency traders need to take their time to carry out the necessary research. Ideally, they should start with a shortlist of the top-rated plans. After creating the shortlist, the following are some key factors that should be considered:
i) Reliability
You want to sign up for a hosting plan with a proven track record of reliability. After all, you do not want the hosting service to be unavailable at certain times of the day as this can effect your success. The ideal VPS hosting plan should have a reliability rating of 99.99% or higher. Therefore, you should take your time to compare the reliability ratings of the shortlisted hosting providers.
ii) Cost
Obviously, you want to trade forex to make a profit. By keeping your expenses low, you can be assured of wider profit margins. For this reason, it is crucial you look for a competitively priced hosting plan. For instance, you should look for a plan that meets all your other requirements, but is priced at a lower cost. By comparing the hosting fees charged by different firms for the type of hosting you need, you will be able to identify the most affordable hosting plan for your forex trading needs.
iii) Server Resources
There are two types of VPS plans. The first is dynamic VPS while the other is cloud VPS. Dynamic VPS is often achieved by partitioning the hard drive of a server to create several partitions that can be leased out to third parties. Cloud VPS, on the other hand, is achieved by metering cloud-based server resources, so you can use as much storage space and bandwidth as you need and pay for your usage only. Be sure to check the server resources that come at a given price to ensure you get the best deal possible.
iv) Speed
The speed of a hosting service must be considered. This will largely depend on two things. First, the location of the servers will affect the speed of the service. Secondly, the speed of the broadband connection between the server and broker servers will affect speed.