Updated June 2023!
In the ever-evolving world of forex trading, automation, and efficiency have emerged as vital components for achieving success. Traders today must embrace technology to enhance their trading strategies, and one powerful tool that has gained prominence is a VPS server.
Forex traders don’t need to have extensive knowledge in computer science, mathematics, and coding skills anymore because this guide will help you how to use a VPS forex.
A Forex VPS, which stands for a virtual private server, ensures nearly 100% uptime, eliminating concerns about connection drops, latency, and power outages that can hinder trading activities. If you’re using MetaTrader 4 Expert Advisors (EAs) or other automated trading strategies, a Forex VPS becomes indispensable.
In this comprehensive guide, we will delve into the ins and outs of setting up a VPS for trading. From understanding the benefits of VPS hosting to learning how to set up a VPS, optimizing performance, and ensuring seamless trade executions, we will equip you with the knowledge and tools to fully harness the potential of VPS technology in your forex trading journey.
What is a VPS and how does it work?
Imagine a Forex VPS (virtual private server) as an unbreakable lifeline that connects your trading terminal to the vast trading network. When you utilize MT4 on your home computer, you plug into the standard trading network where your trades are executed.
Unfortunately, life can be full of unplanned events especially when you’re using the internet:
What if an unexpected power outage severs your internet connection?
Or does a system glitch derail your trading endeavors?
What if your computer freezes or ceases to function altogether?
Moreover, what if you wish to keep your expert advisors (EAs) and trading algorithms running overnight?
In such scenarios, you instantly lose the ability to open, close, or modify your trades, potentially leading to significant consequences in a fast-paced market environment.
Forex VPS hosting serves as your unwavering connection, enabling you to continue trading seamlessly. It provides a shield of safety and security against unforeseen system failures. It not only serves as an automation tool but also becomes an integral component of a trader's risk management strategy.
The VPS server Forex operates as a SaaS (Software-as-a-Service), where you pay a monthly subscription fee to access a VPS hosting service provided by a third party.
Also, read Why Should You Use a VPS for Forex Trading.
How to Use VPS?
Now that we understand the importance of a VPS for forex trading, let's dive into the process of how to use a VPS and make the most of its capabilities. You'll be pleased to know that the VPS setup is remarkably straightforward, requiring just a few key elements. Here's what you'll need:
Trading Account with Your Preferred Forex Broker: Begin by registering with your chosen Forex broker. See our guide on how to choose the best Forex broker in 2023.
Internet Connection: Ensure you have a reliable and stable internet connection. A fast and uninterrupted connection is essential for seamless trading activities on your VPS.
Remote Desktop Connection (RDC): To access and control your VPS, you'll need a remote desktop connection. This connection establishes a secure link between your local computer and the VPS, allowing you to manage your trades and applications remotely.
VPS Address and Password from Your VPS Service Provider: Your VPS service provider will furnish you with the essential information required to connect to your VPS including the VPS IP address and a password.
Armed with these four elements, you're ready to embark on the journey of setting up and utilizing your VPS effectively.
Before we learn how to set up VPS hosting, ensure you have the necessary Expert Advisors (EAs) you wish to install and a trading account prepared. Additionally, verify that your internet connection is stable and swift to ensure optimal performance.
The guide to using a Forex VPS can be divided into two parts: how to set up the VPS and installing MT4 (MetaTrader 4) on the VPS. In the following sections, we will navigate through these steps, providing you with a comprehensive understanding of the process.
How to Setup a VPS
Before we delve into the intricacies of how to make a VPS at home, it's important to note that this tutorial focuses on Windows 11 as the operating system. However, if you happen to use a slightly older version of Windows, the general process of how to get a VPS working on your PC remains largely the same.
Dracula Servers stands out as a VPS server that offers you complete control by allowing you to install the operating system (OS) of your choice.
Without further delay, let's explore how you can harness the power of a Forex VPS with your personal computer:
Step 1: Creating a Private Server
As you're working with a Windows virtual private server, you'll connect to it using the Remote Desktop Protocol (RDP). Microsoft developed RDP, and if your home PC runs on Windows, you already have a built-in client for seamless communication with your VPS.
To launch the RDP client, you can:
Open the Start menu.
Type "remote desktop."
Windows will suggest the RDC client as an option.
Alternatively, you can use the Windows Search feature by pressing the Start + S button on your keyboard, and then typing "Remote Desktop Connection."
Step 2: Connecting to Your VPS
Upon opening the client, you'll be prompted to enter the VPS server's IP address and login credentials. There are two fields where you can input this information, labeled:
and "User name."
Enter your VPS's IP address in the "Computer" field and your password in the "User name" field. Once done, click "Connect," and you'll find yourself in a virtual computer environment or remote desktop.
Your VPS setup is now up and running.
Step 3: Downloading and Installing MT4
The next step involves installing MetaTrader 4 (MT4) on your Windows VPS. Once you establish a connection to your VPS through the remote session, you can proceed with installing the MetaTrader 4 platform.
However, please note that the availability of the platform may depend on your hosting plan as some VPS providers have the trading platform pre-installed.
It's worth mentioning that once the MT4 instances are set up on the remote server, they will continue to run even if you disconnect from the remote session.
Often, your broker provides the MT4 installer. If not, you can download the MetaTrader 4 trading platform directly from the official MT4 website or your forex broker's website. Open an internet browser on your Remote Desktop Connection and download the MT4 client.
Here's a concise step-by-step tutorial on how to install the MetaTrader 4 platform:
Connect to your VPS via the remote session.
Check if the MetaTrader 4 platform is already installed. If not, proceed to the next step.
Download the MetaTrader 4 Client Terminal from the official MetaTrader website or your broker's website.
Locate the downloaded installer file on your local PC.
Copy-paste the MT4.exe file from your local PC to the VPS’s SSD.
Double-click the installer file to start the installation process.
Follow the on-screen instructions provided by the installer.
Specify the installation location for MetaTrader 4 or use the default location.
Select any additional options or features you wish to install along with the platform.
Wait for the installation process to complete.
Once the installation is finished, launch MetaTrader 4 from the Start menu or desktop shortcut.
Enter your login credentials (account number, password, and server) provided by your broker.
After successful login, you can start using the MetaTrader 4 platform for trading.
After installation and login, you'll be ready to start trading seamlessly as the Remote Desktop Connection will resemble a Windows desktop without any additional applications.
Step 4: Setting Up Your Forex Robots and EAs
Leveraging Forex robots, also known as Expert Advisors (EAs), allows you to benefit from the continuous operation of your VPS, enabling non-stop trading. Once you have MT4 installed, you'll want to transfer your expert advisor to the VPS.
The simplest method is to use the local resources tab within the Remote Desktop Connection. Check the VPS for the drives you wish to share, click OK, and you're all set to transfer data between your desktop and Forex VPS.
Here's a step-by-step tutorial on how to install an Expert Advisor (EA) on MetaTrader 4 (MT4):
Step #1: Ensure that you have the EA or trading robot file ready:
Make sure the EA file is in the correct format, typically ending with the extension ".ex4" or ".mq4".
Step #2: Open MetaTrader 4:
Launch MetaTrader 4 on your VPS server Forex by double-clicking the desktop shortcut or selecting it from the Start menu.
Step #3: Access the "Navigator" panel:
Locate the "Navigator" panel on the left-hand side of the MetaTrader 4 platform.
If it's not visible, you can enable it by clicking on the "View" menu and selecting "Navigator" or by pressing the "Ctrl+N" shortcut.
Step #4: Find the "Expert Advisors" section:
In the "Navigator" panel, look for the "Expert Advisors" section.
Expand the section by clicking the small triangle or plus sign next to it.
Step #5: Locate the "MQL4" folder:
Within the "Expert Advisors" section, you should see a folder named "MQL4".
Expand the "MQL4" folder to reveal its contents.
Step #6: Open the "Experts" folder:
Inside the "MQL4" folder, you will find a folder named "Experts".
Double-click the "Experts" folder to open it.
Step #7: Copy the EA file:
Locate the EA file you obtained earlier.
Right-click on the EA file and select "Copy" from the context menu.
Step #8: Paste the EA file into the "Experts" folder:
Return to the "Experts" folder within the MetaTrader 4 platform.
Right-click inside the folder and select "Paste" from the context menu.
The EA file will now be copied into the "Experts" folder.
Step #9: Restart MetaTrader 4:
Close and reopen MetaTrader 4 to ensure the EA is properly loaded.
You can exit the platform by clicking on the "File" menu and selecting "Exit".
Step #10: Access the "Navigator" panel again:
After restarting MetaTrader 4, open the "Navigator" panel once more.
Step #11: Refresh the EA list:
Right-click inside the "Expert Advisors" section of the "Navigator" panel.
From the context menu, select "Refresh" to update the EA list.
Step #12: Find and attach the EA to a chart:
Scroll through the "Expert Advisors" section in the "Navigator" panel.
Locate the EA you installed, it should now appear in the list.
Drag and drop the EA onto the desired chart or right-click the EA and select "Attach to a chart".
Step #13: Configure the EA settings (if applicable):
A window will appear, allowing you to customize the settings of the EA, if applicable.
Adjust the parameters as desired, such as lot size, stop loss, take profit, or other settings specific to the EA.
Step #14: Enable automated trading:
Before the EA can start executing trades, ensure that automated trading is enabled.
Look for a button with a smiley face icon in the MetaTrader 4 toolbar.
If it is not already green, click on the button to activate automated trading (it should turn green).
Take the next step and explore our comprehensive Forex brokers comparison page to compare the top brokers in the industry and evaluate their VPS offerings that align with your trading needs.