Broker Provided VPS Service

I have noticed some brokers offer a free VPS service with their accounts. Obviously, this is under the condition that a minimum account balance is maintained. Has anybody used a broker provided VPS before? How was your experience? Would it be worth it to pay the extra money for a reliable 3rd party VPS?

So you're going to show your broker your SL, TP and your code ....?

Just give them your money. Will save you a lot of time and effort.

Thanks Hand... I'll take that into consideration.

That being said, my original questions still stand. Has anybody used a broker provided VPS before? How was your experience? Would it be worth it to pay the extra money for a reliable 3rd party VPS?

I would never use Brokers VPS... They would see all of my EAs.

@lostfox

It's not something I'd ever consider. The conflict of interest is to great and your average fx broker to crooked. I pay my $70 a month for a dedicated server and I know it be trouble for someone to mug me.

I do know people who run int he cloud for, amazon for example, and they pay about $8 a month. Even that would be a hell of a lot safer. VPS is just a really, really bad option and quite frankly not a risk you need to take.

Sorry I can't edit the spelling. The option is no longer there and I'm still pre-coffee...

My broker also offers this but I don't trade the minimum lots to qualify for this. My system also cannot afford a vps right now, so I bought a ups. That covers the electricity part only. Myfxbook sends me a notification if my account is not updated on my work email and then I know something is the matter. It is very seldom that we lose internet coverage, but that has happened once or twice. If it is in a trade (that has never happened) I can use my cell to become a wifi hotspot and the mt4 terminal on my laptop can continue. But if it could afford vps I would rather go for that - then you have no worries.

Thanks Rihan. I always wanted to try to keep it on my system. However, I couldn't think of a way to be alerted if my system went down, electricity went out, or my internet connection was lost.

How do you set up myfxbook to send you the notification?

I only discovered it recently. Used to go to my profile and check if it was updating recently.

But this way is MUCH easier. I have another email set up on my phone, so I get a notification of the account not updating every x minutes.

The option is under messages on the settings tab.

Only annoying thing is, there seems to be a period (at midnight everyday) where the account is not updated (perhaps myfxbook can look into that) So I just ignore that one.

@RSTrading

The MT servers are updated once a day by MT. Most likely that's what you're seeing.

@theHand Thank you..That explains it then..

You could theoretically run your own VPS on a non-trader platform, but I agree about the cloud services.

I think, providing of this service by broker is just one more opportunity to make delays while opening or closing of orders.😁

As I remember, Amazon provided free VPS to everyone for a year. If they continues to provide it you can try if you still want to use VPS for trading. IMO it's better than to use brokers VPS (at least you'll really hide your TP/SL levels)

If your broker is a Pass through type, he doesn't care what you have in your trading folder. The real problem with a Broker provided VPS is that they can close it and you can't get to your program.

If you fall below the minimum standard, they have every right to close your VPS. How do you feel about that? That's why professional traders use a good 3rd party VPS, you never know what is going to happen in the market.

But honestly, if you live in a place with reliable internet service, reliable in that it never goes down, buying a cheap computer and running your own home system is cheaper and just as good. VPS services do go down, even with their battery backups. And there are ways to back up your home internet with a data service from a cell phone provider.

The nice thing about a VPS is that you're free to travel, move or anything and your income is still working and secure. That's worth $29.00 anytime.

However, to answer your direct question, no I have never used a broker provided VPS and for the above stated reasons, I never will.

Bob