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Not such a simple answer, right?
There are a few things you need to consider for your individual needs.
1. What kind of hardware do you use on your own computer that will sufficiently run your method. (This will answer what kind of hardware you will need at minimum for a VPS/server of any kind).
2. What markets do you access, and where are you located relative to the order matching gateways for those markets. This part will start guiding you in figuring out where you want your VPS to be located.
All depends on what will run on these platforms.
TS with light workspace will run fine with 2 cores/4 GB. MT4 is not very demanding in RAM but more in CPU, so 4 cores/8 GB for both platforms running in parallel sounds good.
