Vantage FX review 2024
Vantage FX review Summary
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Founded in 2009, the broker is headquartered in the Cayman Islands and serves both beginner and professional traders. Keep reading to find out more.
What can I do with Vantage FX?
Vantage FX offers a variety of tradable assets such as currency pairs, commodities, indices, and CFDs. Vantage FX is the trading name of Vantage International Group Limited, and is authorised and regulated to provide trading services in the Cayman Islands, the UK, and in Australia.
With over 300 instruments including currency pairs, commodities, indices, and share CFDs, Vantage FX traders have a wide array of tradable assets. You can trade using a live account or try a demo account to help you sharpen your trading skills.
Vantage FX also gives you the benefit of trading on (MetaTrader 4) MT4, the most popular platform for forex trading or MetaTrader 5 (MT5), the next-generation platform. You can also access your platform through a PC or mobile devices.
Pros & Cons
Pros:
Cons:
Can I open an account with Vantage FX?
Vantage FX markets, assets, and options
What assets and products can you trade on Vantage FX?
On the Vantage FX platform, you’ll get to trade some of the top equities such as Apple, Google, Microsoft, and Amazon. Other available assets include forex pairs, indices, energy, soft commodities, precious metals and share CFDs. Here is a breakdown of the specific offerings.
| Product | Offering |
|---|---|
| Forex pairs | 44 |
| Indices | 16 |
| Commodities | 19 |
| Share CFDs | 226 |
What leverage trading options are there?
Vantage FX offers its clients leverage starting from 1:100 up to 1:500 which is pretty much what other brokers in the industry offer. However, the leverage differs per asset class – and traders in the EU are limited to leverage of 1:20.
Having said that, beginners must be careful as leverage trading carries a high level of risk to invested capital. We only recommend that experienced traders trade with leverage. For a complete overview of the leverages per asset class, have a look at the table below.
| Product | Maximum leverage | Margin |
|---|---|---|
| Forex | 1:500 | 0.2% |
| Commodities | 1:20 | 5% |
| Indices | 1:200 | 0.5% |
| Share CFDs | 1:20 | 0.5% |
What are the spreads?
Vantage FX has some of the industry-leading variable spreads. Depending on the account you choose, you’ll get different spreads. For instance, when trading forex on a RAW ECN account you can get spreads from as low as 0.0 pips and 1.0 pips when trading on Standard STP accounts. Within the commodities class, you can get spreads as low as 3 pips.
The table below breaks down the spreads available for each different asset class on Vantage FX.
| Product | Average spread | Fixed or variable? |
|---|---|---|
| Forex | 2 pips | Variable |
| Indices | 200 pips | Variable |
| Energy | 42 pips | Variable |
| Soft commodities | 74 pips | Variable |
| Precious metals | 45 pips | Variable |
Fees, limits, and payment options on Vantage FX
What are the deposit and withdrawal fees, limits, and speeds?
The broker doesn’t charge for deposits and withdrawals. However, intermediaries may charge to facilitate transfers to and fro Vantage FX. It is important to note that withdrawals are processed 5 days a week, from Monday to Friday 9 am – 7 pm (AEST).
Here is more information on the payment methods, deposit and withdrawal channels.
| Payment method | Deposit | Withdraw |
|---|---|---|
| Credit or debit card – min/max – fees – speed | Yes £50 / No limit Free Instant | No |
| International bank transfer – min/max – fees – speed | Yes £1/No limit Free 2-5 business days | Yes No limit Free 2-5 business days |
| Skrill/Moneybookers – min/max – fees – speed | Yes £50/No limit Free Instant | Yes No limit Free Instant |
| SticPay – min/max – fees – speed | Yes £50/No limit Free 1 business day | Yes No limit Free 1 business day |
| Neteller deposit – min/max – fees – speed | Yes £50/No limit Free Instant | Yes No limit Free Instant |
| UnionPay – min/max – fees – speed | Yes £50/No limit Free Instant | Yes No limit Free Instant |
| FasaPay – min/max – fees – speed | Yes £50/ No limit Free Instant | Yes No limit Free Instant |
| Bitwallet – min/max – fees – speed | Yes £50/No limit Free Instant | Yes No limit Free Instant |
| Cryptocurrency (Bitcoin or Tether) – min/max – fees – speed | Yes £50/No Limit Free 1 business day | No |
How much are Vantage FX’s fees and commissions?
The fees and commissions Vantage FX charges vary based on the type of account you choose to trade with. For instance, the Standard STP Account charges zero fees on trades. The Raw ECN Account charges $3 per lot per side while the Pro ECN Account charges fees of $2 per lot per side.
However, when trading CFDs, you will be charged a commission based on the currency you’re using, and the other fees and commissions are as follows:
| Product | Fee | Commission |
|---|---|---|
| Forex | Depends on type of account | 1 pip spread (average) |
| Commodities | Depends on type of account | 74 pip spread (average) |
| Indices | Depends on type of account | Varies between different indices |
| US Share CFDs | Depends on type of account | $6 per trade |
| HK Share CFDs | Depends on type of account | 50HK$ per order |
| UK and EU Share CFDs | Depends on type of account | €10 per trade |
| AU Share CFDs | Depends on type of account | $5 per trade |
Vantage FX trade sizes and limits
Whether you are using Vantage FX’s Raw ECN or Standard STP foreign trading account, the default setting is a standard lot or 100,000 units of currency. However, you can trade up to a micro lot which is 0.01 of a standard lot or 1,000 units of currency.
| Product | Minimum trade | Maximum trade |
|---|---|---|
| Forex | 0.01 lots | 1 lot |
| Commodities | 0.01 lots | 100 lots |
| Indices | 0.1 lots | 500 lots |
| Share CFDs | 1 lot | 10,000 lots |
Vantage FX trading platform
What devices can I use Vantage FX on?
Traders can access the Vantage FX MT4 and MT5 platforms anywhere using the following devices.
- Personal computer (laptop or desktop)
- Smartphones (iOS and Android)
- Tablets
The Vantage FX mobile trading app is available as a free download on both iOS and Android platforms.
Can I use Vantage FX in my country?
Vantage FX accepts traders from most countries around the globe including the United Kingdom, Australia, France, Hongkong, Germany, and South Africa. Having said that, the broker is not available to traders in Canada and the United States.
Is Vantage FX available in my language?
The broker has made its services available in 14 different languages. You can access its products and support in English, French, Germany, Spanish among other mainstream languages. To see if your language is supported, make a selection below.
How easy is it to use Vantage FX?
Right from opening an account to trading on its platform, Vantage FX gives traders an easy process and user-friendly interface to place their trades. You can open an account in under 5 minutes and begin trading on mobile or PC.
Key features
Knowing the key features of a broker is important as this will shape your expectations when trading. Among the features to expect from Vantage FX is the variety of platforms, tradable assets, and lot sizes.
Industry-leading trading platforms
Traders have a range of platforms they can choose when trading. The main platforms are MT4 and MT5 which are accessible on mobile through the Vantage FX app and on PC through Webtrader.
Wide variety of assets
With over 300 tradable assets which include 226 Share CFDs and 44 currency pairs, Vantage FX gives its clients a lot of options to profit from their trades.
Low minimum forex trades
You can trade a micro lot which is 0.01 lot or 1,000 units of currency.
Security and regulation
Is Vantage FX safe?
Vantage FX is a safe platform to trade on. It is regulated in various jurisdictions – including the UK and Australia – and therefore client funds are guaranteed up to a certain limit if something were to go wrong. This makes the broker a trustworthy service.
Am I and my funds protected?
Yes. Client funds are securely held in a segregated account at the National Australia Bank. This is one of the safest banks globally and is an AA-rated financial institution. Additionally, the broker has an indemnity liability insurance policy with SJ Catlin and Lloyds in London worth $20 million.
Is Vantage FX regulated?
Yes, the broker is regulated in the following jurisdictions.
- Cayman Islands: Here Vantage FX is authorised and regulated by the Cayman Islands Monetary Authority (CIMA).
- Australia: The Australian Securities and Investments Commission (ASIC) ensures that Vantage FX’s operations are in line with the set regulations in the country.
- United Kingdom: In the UK, Vantage FX is regulated by the Financial Conduct Authority (FCA).
Do I have to verify my account with Vantage FX?
Yes, you do. In line with the Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) regulations, the broker is required to verify client account details. Traders are required to submit valid passports, notarised driver license, notarised national ID card or a valid proof of age photo ID card.
Extra information
Educational resources
Vantage FX has a wide range of free education tools to help traders of all levels make the best of their trades. There are live webinars from expert traders and step-by-step guides. Beginner traders can access manuals and video tutorials showing them how to interact with their MT4 and MT5 platforms.
Tools and charting
Vantage FX has a collection of trading tools and charts that enable you to enhance your trading edge. Here is a summary of what is available.
- Alarm manager: You get alerts and triggers on your automated trades
- Market manager: This tool helps you to add different options and personalise your Market Watch window
- Correlation trader: This tool enables you to quickly glance at correlation patterns
- Excel RealTimeData link: You can connect your MT4 or MT5 with excel data and trade comfortably using excel rules.
Customer support
Vantage FX has an award-winning customer support team that is highly responsive and available 24 hours on the following platforms.
- Email: You can email the customer support team at [email protected]
- Telephone: The telephone line you can call for support is +44 2080363883
- Live chat: There is a live chat option with close to zero wait times
Our verdict
Vantage FX is an impressive broker with a variety of tradable assets including indices, forex pairs and share CFDs. In addition to the popular MT4 and next-generation MT5 platforms, the broker has a collection of trading accounts for both beginners and experienced traders.
Being a regulated broker in Cayman Islands, Australia and the UK, Vantage FX has a strong reputation in the market. Your funds are held in a segregated client account and insured to the tune of $20 million, giving you the security of knowing your money is safe.
Vantage FX maximum leverage is set at 1:500 and the minimum trade is 0.01 lot. However, due to the increased risk of leverage trading, it is important you learn the ropes gradually as you gain experience before going full throttle into leveraged trades.
How to open an account with Vantage FX
Signing up for an account with Vantage FX is simple and fast. In under 5 minutes, your account is up and operational. Here are the steps to setting up your trading account.
- Provide your details: These are your name, mobile number, nationality, and email address. You also need to specify that you are opening an individual account.
- Employment and financial details: You need to select your employment status, estimated annual income, any savings and investments and your source of funds.
- Trading knowledge and experience: Choose the number of trades you want to enter in a week and the trading amount you are willing to put in.
- Account configuration: Choose your preferred trading platform (MT4 or MT5), type of account, and currency
- Identify verification: Upload your proof of identity and proof of residency documents.
- Fund your account: There are several ways you can fund your account including using your credit/debit card, wire transfer, Skrill, and cryptocurrency deposit.
Once your account is approved, you will receive an email with your platform login details.
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Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.
https://www.vantagemarkets.com/
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