If you are relatively new to forex trading, then you are probably wondering whether you should use VPS. VPS refers to a Virtual Private Server which is basically a cloud-based PC. In this guide, we’re going to discuss the advantages of using a VPS as a forex trader and how you can connect to a VPS using various operating systems.
ADVANTAGES OF USING A VPS WHEN TRADING FOREX
Before we start, let’s first have a look at the advantages of using a VPS as a forex trader:
1. REDUCES RISK OF LOSS
A VPS reduces the risk of loss due to power outages or internet disconnections. It does this by staying online 24/7. As long as you get a VPS service with 100% uptime, you can continue trading even if the power goes out. This is especially useful if you use automated systems to trade.
2. FASTER TRADE EXECUTION
With a VPS, you can enjoy faster trade execution. If your VPS shares the exact location as your forex trading broker, you will be in a position to open and close trades faster and more efficiently than you would have without using one.
VPS systems are highly secure. Managed VPS servers undergo rigorous and frequent monitoring to ensure that they are fully functional and safe. Besides, you can also get antivirus as well as other security-enhancing tools upon purchase to ensure that your system is safe from any vulnerability.
4. REDUCES SPILLAGE
Whether you are using an automated trading system or are manually handling the trade, you can benefit from minimal spillage through a VPS. A VPS has the advantage of executing your trades faster since it transmits orders faster.
This results in less slippage and delays. Eventually, this can be a way to minimize unpredictability and losses.
5. PROFESSIONAL INSTALLATION
You also get assistance when setting up your software. Most VPS companies have install indicators that can help you should you get stuck along the way.
HOW TO SET UP MT4 ON VPS
Before discussing how you can set up your MT4 account on VPS, let us discuss what it is and the advantages of using it.
Abbreviated as MT4, a MetaTrader4 platform is a widespread and widely trusted trading platform. It’s versatile and is not only ideal for trading forex but is also perfect for stocks, indices, and commodities.
The MT4 platform offers forex traders advanced analytical abilities, automated trading functions, and multiple device operability. It has a friendly user interface and offers numerous opportunities to traders of different skills, both beginners and intermediaries.
ADVANTAGES OF USING AN MT4 TO TRADE
1. ACCESS TO REAL-TIME MARKET PRICES
MT4 platform enables traders to get access to forex quotes in real-time to execute trades. Also, it lists the available currencies and other available securities that a trader can choose to trade in under the “Market Watch” section of the platform.
Additionally, traders get access to details such as margin currency, contract size, and margin percentage. Thus, by using the MT4, you can get an idea of the market sentiment and liquidity details. These aspects are vital, especially when executing a short-term trade.
2. ACCURATE ANALYTICAL TOOLS
The MT4 platform has numerous built-in charting capabilities and technical indicators. It offers traders more than 30 price analysis tools. You can forecast price movement, predict resistant levels, and be aware of any entry and exit points through the analysis. Also, as a trader, you will have the chance to customize access to data that you consider relevant.
3. HIGH FLEXIBILITY
There are various trading orders in forex. MT4 has two market order options and four pending order options. There are also three trade execution modes that guarantee you enjoy flexibility. Different types of orders available on the platform make it appealing for different traders.
HOW TO SET UP MT4 ON VPS
Setting up MT4 on your VPS is a relatively straightforward process. It only requires a remote desktop connection, internet connection, and a VPS (address and password) from your service provider. Simply follow these steps:
1. Register with your VPS service provider or broker. Upon successful registration, you will receive an email with your log-in details.
The details will also include an IP address that appears similar to this “123.446.4.7” with the standard password being “administrator.” Note that the IP address can’t be changed while the password can.
2. Open your Remote Desktop Connection (RDC). Go to your Windows Search option and type “Remote” and it will come up among the results. Click on it and you will see two fields: the “Computer” and “User name“.
Fill in the IP address under the “Computer” and the password in the “Username” option. Verify the details are accurate and click on “Connect.” Your VPS will now be live.
3. Browse the internet using your Remote Desktop Connection. The RDC resembles the regular Windows Desktop. However, the only difference is that it doesn’t have any apps installed. To proceed, you need to download MT4 first.
After a successful installation, you may now log in to your trading account and start trading.
HOW TO CONNECT TO WINDOWS VPS FROM WINDOWS OS (OPERATING SYSTEM)
The remote desktop is a protocol that enables users to access Windows VPS which is located in a different location. Microsoft has come up with this protocol and inserted it on a Remote Desktop Connection.
Therefore, you need to use the Remote Desktop Connection application for you to connect to Windows VPS from Windows Operating System. Here are steps to guide you on how to make the connection:
1. Connect to the Remote Desktop Connection. Most versions of Windows have preinstalled Remote Desktop Connection software. You can search the application by clicking on the “Start Menu.” Alternatively, you can find it through the “Run.” Simultaneously press the Windows Key + R to open the Run box. Then enter mstsc and then click OK to open.
2. Once the Remote Desktop Connection is launched, type in the VPS IP address and hostname and click on Connect. A new page will ask you to confirm that you trust the server you want to connect to. Click on Connect.
3. Next, you will be asked for the destination RDP, Server, and PC details: username and password. Fill in the necessary fields and click OK.
That is all for the process. Once it connects, you will see the new desktop for the VPS.
HOW TO CONNECT TO WINDOWS VPS VIA THE MAC OPERATING SYSTEM
Unlike Windows which has the Remote Desktop Connection App by default, this app is not preinstalled in the Mac Operating System. Here are steps on how to connect to a Windows VPS using MAC OS:
1. Download the Microsoft Remote Desktop from Appstore. After successfully downloading, install it on your Mac then run it.
2. As you run the app, you will see a “New” button on the Remote Desktop Screen’s top left side. Click on it. It will require you to add in various fields. First, you will be asked to input a connection name. You can fill in the name of your choice.
- Next, you will be asked to add the PC name. This should be the name hostname of your VPS server or your VPS IP address. The last input will be the Username followed by the password. When prompted, input the server credentials sent to you by the VPS connection provider.
3. Start a session with the new desktop that you have configured using the steps above. Double click to start your session. You will have successfully connected to a Windows VPS.
HOW TO CONNECT TO WINDOWS VPS FROM LINUX OS
If you are using a Linux operating system, here is how you can connect to a Windows VPS service using your machine:
1. You’ll have to use Remmina which is a built-in application that you can easily access from the “Show Applications” button located at the bottom corner on the left side.
2. Upon launching Remmina, you will see a + sign which you should click on to create a new VPS connection profile.
3. The welcome email will consist of all the information you need, including the Server IP, log in (using the default username of “Administrator”), and the provided password. If you don’t see the mail in your inbox list, check it in your mail spam folder.
4. Enter the information. You will receive a new connection name. A new page will appear and you need to check the box written “Use client resolution.” Adjust the color depth to 24-bit True color. Click Save & Connect to connect to your Windows VPS immediately.
5.. ou will get a message asking you to accept the certificate. Click on “OK.” You will be connected to the VPS.
Forex trading is much easier with the MT4 platform. We hope that our guide above will come in handy to help you connect your MT4 to your VPS. Each of the guides is catered to different operating systems, so regardless of which one you use, you can still use the trading platform without any issues. Good luck trading!