In this tutorial, we will show you step by step how you can create a free Forex VPS using Amazon AWS. Remember that your account will stay free for 1 year after which you will incur costs, but you can cancel your account before the end of the year, or any other time if you decide it’s not right for you.
Why choose Amazon AWS instead of a dedicated Forex VPS provider?
Simply put, because of costs. Amazon AWS isn’t better or necessarily worse than most VPS providers and the main downside from our perspective is the lack of client support. However, if you configure your VPS correctly, you should never actually need any technical support for it. The cost you save can be anywhere near 20 USD / month to 100 USD / month. It might not be a lot for most, but for a beginner trader, a yearly cost of 240 USD to 1200 USD can be significant. Compare that to FREE for 1 year and you can understand why many new traders will be happy to use AWS as their Forex VPS provider.
How to create your free Forex VPS on AWS
1. Go to https://aws.amazon.com/free/
2. Click on Create a Free Account
3. Fill in the required details. Use your actual email address as it will be used to validate your account.
4. Once everything is filled in, you need to click on Continue
5. Fill in the rest of your details. You will need to use a valid phone number as it will be used to verify your account.
6. Fill in your payment details. This will also need to be a valid credit card as Amazon will charge 1$ and send it back to you. It is required in case you exceed the free tier limits. However, this shouldn’t be the case as long as you stick to the instructions in this tutorial. Also, note that all details provided in the screenshots are fake and they are provided simply to help you navigate through the registration process.
7. Confirm your identity by entering again your phone number and request the verification code by SMS.
8. You will get an SMS containing the verification code. Example: Your Amazon Web Services (AWS) verification code is: 0471. Once you enter the 4 digit code and verify your phone number, you have finalised the verification procedure and you can proceed with the set-up of your account.
9. Choose Basic Plan.
10. Choose your role & interest from the drop-down lists, then click on Submit.
11. Your account is now fully ready for setting up MT4 on your new free forex VPS using Amazon AWS.
12. Click on Sign in to the Console.
13. Choose Root user to make sure you have no restrictions when you’re setting up your MT4 instance on the free VPS. Fill in your email address and click on Next.
14. Enter your password and sign in to your new AWS account.
15. Once you are signed in. You can change the default zone assigned to you. In this example, Ohio was assigned as the default zone for the AWS account. However, you should ideally have your MT4 VPS located in an area as close as possible to your broker. In our case, our broker is based in the UK and has its MT4 servers in a data center in London, so we will change Ohio to London. If you are unsure where your broker has its trading servers, you can check with client support to make sure that your execution latency will be minimal.
16. This is where you can change your zone for the AWS account where we will install MT4.
17. Verify that your account has indeed changed to the zone you want your MT4 VPS to be located. You can see the new location on the top right of the screen.
18. We are now ready to create the VPS itself. Click on Launch a virtual machine to create an EC2 instance.
19. You can see at this step the available options of machines and operating systems
20. Search for Windows (unless you are a Linux power user and you have no issues installing MT4 on a Linux machine) and select a free tier eligible option. You can choose Microsoft Windows Server 2019 Base.
21. Select the default t2.micro which is also marked as Free tier eligible, then click on Review and Launch
22. Your EC2 instance is now ready and you can click Launch. Now you are required to create a key pair so you can generate the Password which will be used to access your Windows machine.
23. Click on the default Choose an existing key pair and select Create a new key pair. You also need to enter a Key pair name. This can be anything you want, such as your name, etc. Then you need to click on Download Key Pair.
24. This will download a .pem file on your computer. In our example, the Key pair name chosen was brokerspread, so the file that was downloaded is brokerspread.pem
25. You are now ready to click on Launch Instances.
26. You will then be directed to a page that confirms the new EC2 instance was created.
27. You can then click on Connect.
28. In order to connect to the new server, you first need to get the password for it. Click on Get Password.
29. You will be prompted to choose the .pem file that you downloaded earlier when you created the Key Pair.
30. Once you choose the .pem file, this will upload the RSA key, which you can then use to Decrypt Password.
31. The password will then be displayed for your new VPS. The last part of the password below was covered for security reasons. You are now ready to download the Remote Desktop File which you will use to connect to the VPS.
32. You should have on your computer the RDP file downloaded and ready to be open.
33. When you click on the Remote Desktop Connection file, a security prompt will appear on your screen and you can click on Connect.
34. You need to enter your password that you decrypted earlier and then click on OK. For easier future access, you can also tick Remember me if you want to avoid pasting in your password every time.
35. You do not need to worry about the security prompt, as this is normal behavior for a self-signed security certificate such as the one on the Amazon AWS instance you have just created. Click on Yes to proceed.
36. The connection will be then established and you can use your VPS as you please. You can now install your broker’s MT4 just as easily as you do on your own computer.
Aw, this was a really good post. Taking a few minutes and actual effort to generate a good article… but what can I say… I procrastinate a whole lot and don’t manage to get nearly anything done.