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Hello, You will need a high stable dedicated server to run proxy network and the budget you have is bit low you will need to raise your budget gradually.
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Bandwidth is rarely if ever the problem with proxies.. CPU usage is the major problem.. In a shared environment proxies tend to slow the entire server down. The choke hold is in the resource usage, not the transfer of data. This is why a dedicated server is more suited to the needs of a proxy.