A VPS in forex means Virtual Private Servers which allows forex traders to run automated algorithmic strategies, including expert advisors 24 hours a day seven days a week on a Virtual Machine. In simple terms, the VPS is designed to keep your Meta Trader Terminal connected to the internet 24/7 so it doesn't miss any signals to open, close or modify the order. This should minimize the chance of system downtime due to technology and connectivity failures.
We highly recommend the use of a Virtual Private Server or ‘VPS’ if you want to use EA’s or any other service which requires a constant connection to the trading server.