With the advent of cloud technology and virtual private servers, forex traders can now access MetaTrader 4 from any device. If you’re looking to trade forex using MT4 from a VPS for additional security, or want to reduce your monthly expenses on software and data subscriptions, read on. This article will show you how to set up MetaTrader 4 in VPS so that you can begin trading via this software.
What is a Virtual Private Server?
Before starting with the process of setting up MetaTrader 4 in VPS, we need to understand what a virtual private server is. A VPS is a type of virtual machine that allows you to create a separate operating system environment within your computer. It is a very powerful server computer that uses a remote hosting service in which you have exclusive access to one or more CPUs. This enables you to run your operating system and store data on the computer, behind a private network that you have full control over.
How to Set Up MetaTrader in VPS
In this step, we will be setting up MT4 on the VPS.
- First, you will need to get a Forex Trading VPS server hosting provider. The VPS hosting provider will provide you with details of their login credentials. This will enable you to access the server from your computer.
- Then, you will need to install MetaTrader 4 on the VPS by following the installation instructions provided by your VPS hosting provider.
- Once the installation is complete, you will need to open the “Terminal” or “SSH” and log into the VPS using the login credentials provided by your VPS hosting provider.
- Once you’re logged in, you need to set up the broker. For this, you will need your broker’s API details.
How to Trade Forex Using MetaTrader 4 in VPS
To trade forex on VPS, you must first create an account with a forex broker. This will enable you to deposit money and trade with live forex rates on your MT4 platform. Most forex brokers offer a free demo account for you to test your trading strategies before investing real money.
Once you’ve created an account, you can set up your MT4 trading platform on your VPS. Once the platform is set up, log into your broker’s trading account, and create a trading strategy by following the trading platform’s instructions. Keep a track of your profits and losses by regularly logging into your trading account.
Pros of Trading Forex on VPS
There are several benefits associated with trading forex on VPS.
- First of all, VPS enhances security by providing you with full control over your computer. This way, you don’t have to rely on third-party service providers for hosting.
- Furthermore, VPS enables you to store your trading platform and data. This means that you don’t have to pay a monthly subscription fee for data and software on each device that you use to trade.
- Moreover, VPS allows you to have multiple MT4 trading platforms on one computer. This way, you can use one computer for multiple trading accounts, each with its trading platform.
- Finally, VPS lets you log into your trading account from any computer, irrespective of its location. This means that you don’t have to keep your computer on, or be near your computer, to trade.
Cons of Trading Forex on VPS
Although VPS Linuxyou to trade forex from any device and reduces your monthly expenses, it is not without its disadvantages.
- First of all, VPS is more expensive than hosting your trading platform on a shared or dedicated server. Therefore, you must be willing to invest in this technology if you wish to trade forex on VPS.
- Secondly, VPS requires you to have a computer that can handle multiple operating systems. This way, you must have a computer that is powerful enough to handle more than one operating system.
- Thirdly, VPS requires some technical knowledge. Therefore, you must have a basic understanding of the VPS technology before trading on it.
If you’re a forex trader who wishes to trade from any device and avoid paying a monthly subscription fee for each device, then you can trade forex on VPS. Virtual Private Service is a bit expensive technology, but it provides you with full control over OS and enables you to store your trading platform and data on the system.