Virtual Private Server (VPS) Hosting is a service with quickly growing demand among Canadian traders. As automated traded and Expert Advisors (EAs) gain ground, more and more participants want guaranteed, over-the-clock access to the market in order to have their strategy executed continuously. That’s not achievable with a standard internet connection in your home, but with a professional hosting service your trading platform can have a redundant internet connection and fast, low ping link to the exchange, ensuring quick and unabated execution.
Direct hosting services versus forex broker-bundles
When trading forex you have two main options to use a VPS service. You can buy the service directly at a hosting company or use a forex broker as an intermediary. Hosting providers like Commercial Network Services (CNS), BeeksFX, and others offer customers direct hosting packages at an attractive price. Why would you use a broker if you can contract directly? The main reasons are the following:
- It can be cheaper or even free as the broker bundles the service with its account
- The connection is already set-up you don’t have to deal with technical issues
- Easy-to-use preset options
The first factor alone may be enough to convince you as a free VPS is the best VPS, especially for someone just starting to use one. But is this always true? Should the price be the main deciding aspect?
Let’s see the exact offers of the best free VPS brokers—and the extra conditions that may well be deal-breakers for some!
The Best Brokers with free VPS hosting
What are the details to check when deciding? Here is a list of the most important things to consider:
- Is the offer continuous or a trial promotion?
- Is there different minimum account size requirement to use the offer?
- Is there a minimum traded amount?
- What is the level of quality of the free offer?
- What service provider is the broker associated with?
- What trading platforms does it allow?
The first factor is clear, you don’t want to run into a trial period that leaves you with extra costs after the first month, that you haven’t counted on. Be sure to check the fine print if you choose a broker outside our recommendations.
The minimum account size and traded amounts are the most common conditions the brokers use to make sure they don’t lose money on the deal. They make money both on the commissions and the account balance, mind you. Do the math; if you would have idle capital on the account just because a free VPS service you might lose more on the missed interests that you could get on a savings account for example.
The quality level of the offer might be important if you have a lot of strategies running or some, with high-frequency orders (such as scalping). For regular strategies, the basic (free) service is more than enough in most cases.
The hosting service provider should be a reliable one with speedy and stable connections. This is usually not a concern but if you choose a smaller broker you should do a little research about the provider yourself.
Now let’s move on to our recommended brokers!
InstaForex offers free VPS above a minimum account size of $5000 for traders from Canada. The speed of the connection is good, setting up the VPS is easy.
On the negative side, some bonuses are deducted when ordering even the free VPS as it is considered a withdrawal. Also, you have to order a new service after every 5 months and you can only use the proprietary Instatrader platform to trade. No minimum amount of trades required.
IronFx also offers free VPS over an account balance of $5000 but with no restrictions for the quality of the connection—you get the same service as with a paid VPS. No minimum amount of trades required.
The Meta Trader (MT4) platform is available for trading.
IamFX only requires an account balance of $2500 to maintain a free VPS, with great speeds and very good up-times with a Unix-based solution and the MT4 trading platform.
You also have to trade a round trip of 5 lots to receive the free service every month. That shouldn’t be a big deal if you use your account at all.
If you don’t like these choices here are some other brokers with free VPS services: