How to Get a Cheap VPS for Forex Trading Charts

UPDATE: Before signing up for Amazon, double check with Amazon that this offer still applies. This offer may not be available in certain areas. 

Just a heads up, using this solution can get a little technical.

If you prefer a simpler (but more expensive) solution, we recommend using this VPS provider.

In a previous post, I showed you how to create a sub $100 Metatrader VPS with a cheap netbook and your home internet connection.

That’s great if you are on a really tight budget because you only pay a one-time fee and you use your existing internet connection at home.

This allows you to run your Metatrader Expert Advisors (EA) or signal indicators without tying up your primary computer. Incremental automation doesn’t have to cost a lot of money.

The downside is that if the power goes out at your house, your laptop will no longer be connected to the internet and if you are in the middle of a trade with an EA, it might cost you some money.

So if you are serious about trading, you have to step up to a better solution.

That means getting a VPS or virtual private server.

There are different ways to get free MT4 VPS hosting, but none of them are completely free.

You either have to have an account with a broker or you get a free trial period, but you have to start paying after the trial is over.

In this post, I’m going to show you how to get a VPS for free for a year. After that, you will pay about $12 per month, depending on how much data you use and where you host the server.

If you are only running Metatrader on your VPS, it should not be that expensive because it doesn’t use that much data.

Watch this quick video to get started.

If you prefer the text notes, they are provided below the video.

Signup For Amazon AWS – A Cheap VPS for Forex Trading Charts

To get started, go to the Amazon homepage and scroll all the way down to the bottom. You will see a link for Amazon Web Services. Click on that link to sign up for an account.

Once your account is setup, you will see your dashboard after you have logged in. To get started with your VPS, click on the EC2 link.

Choose Your Location

Before you go any further, choose the location of your server. You should choose the cheapest server that is closest to you. Click on the location in the upper right corner.

Choose the location that is closest to you so that you get the fastest connection. Also consider the difference in cost however.

For example, a Windows server in Northern California costs $0.022 per hour. So you will be paying about an 11% premium, just by choosing a different location.

Now contrast that to a server in Oregon. The slight price difference that will save you about $3 per month.

Pick Your Server

Then click on the Launch button to get started.

On the next screen, you will see available servers that you can select. In order to get your first year for free, choose a server that has the “Free tier eligible” label.

If you have setup Ubuntu before and you understand how to setup the GUI, then you may want to choose that option because it costs a little less every month and is generally more reliable than Windows. If you are used to Windows and don’t want to do the complex setup, then choose Windows.

Since Windows is the easier and more common option, I will show you how to use that.

When you setup your server, take all of the default settings. After you are done, it will take a few minutes to run some checks. After the checks are complete, your server is ready to use.

Login To Your New Free MT4 VPS Hosting

Once your server is ready to go, right-click on the server and select “Connect.”

Then this box will show up. First, click on the “Download Remote Desktop File.” You will get a download that contains two files. One file is the RDP file that will open the connection program and the other file is a security file (.pem).

When you click on the “Get Password” button, you will have to upload the .pem file. Then you will be able to see the password.

After you have the password, double-click the RDP file. Doing this will open the Windows Desktop Connection program to login to your new server.

If you have a Mac, then download from the Microsoft website will not work. You have to get the download from the Mac App Store.

Once you have connected to the remote server, just install MT4 and set it up to your liking. I would recommend installing your remote MT4 install to Dropbox because it makes it easier to reinstall if anything goes wrong.

Just install Dropbox on your remote server and double click on the Terminal icon. All your settings will already be there. Otherwise, if you install MT4 directly to Windows, set it up to your preferences and you are ready to go!

Conclusion

So that is how to setup a Metatrader 4 virtual private server on Amazon Web Services.

It’s free for the first year and can help you decide if you want to continue with it or not. This affordable solution for EAs and signal indicators provides the ultimate in flexibility and reliability.

Disclosure: I do get a commission if you buy through some of the links on this page. But it does NOT cost you anything extra, it helps pay for my hosting costs and a portion of the proceeds go to my charity partner.