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I agree withdigifx: also in my opinion,low latency and cheap doesn't work together. You don't reach latency when putting the server right next to the broker's home server.
Hi, i've also bad experience with VPS within privateWAN respectively DesktopPC/Laptop because you have higher latency and are not online 24/7. I personally think every low 10MBit/s dedicated line is better than „PC at home“ (y)
In standard, i think, the only difference between non-branded MT4 and broker-branded MT4 are the .srv-files and the Broker-Icon. So it should be easy to use a brokers MT4 on another brokers platform ;)
If you have access to that VPS by MS Remote Desktop or anything else, then you can do that. Otherwise you need a thing as (for example) https://www.icmarkets.com/au/en/forex-trading-tools/mam-pamm