Vantage FX Review

Next in our broker review series is the “Vantage FX review”, which will encompass all the information on the broker in one place.

Things aren’t always as they seem; hence, it’s necessary to evaluate brokers before entrusting large sums to them.

Vantage FX is a multi-asset trading platform with significant claims to help traders succeed in the forex market faster. In this Vantage FX review, we’ll assess how reliable their trading services and customer service are.

• My Findings on The Broker
• Experience with Vantage FX
• Demo Trading on Vantage FX
• FAQs
• Vantage FX Alternatives

Is Vantage FX Trustworthy?

Vantage FX is a trustworthy broker, and it can be proven by its longevity in the brokerage business, awards, and, most importantly, regulatory certificates.

Moreover, in recent times, Vantage has won awards for “Best in CFD Trading” and “Excellence in Customer Service.”

The list below contains all the regulatory certificates this company has:

• Financial Conduct Authority (FCA) with the license number 590299;
• Australian Securities & Investment Commission (ASIC) with the license number 428901;
• The Cayman Islands Authority (CIMA) under license number 1383491;
• Vanuatu Financial Services Commission (VFSC)with a permit No. 700271.

My Findings

To start things off, this broker isn’t available in a few major countries. Some are Canada, China, Romania, Singapore, the United States, and jurisdictions on the FATF and EU/UN sanctions lists.

Furthermore, much of the research and educational material is under a $1000 minimum deposit wall. Therefore, to fully experience the tools for research, the best trading videos and PRO ECN accounts are needed.

Nonetheless, this broker does pay attention to little details. For instance, all of the charts in the meta trader suite are provided by Trading View.

Additionally, three platforms are provided for copy trading, namely Zulu Trade, Dupli Trader, and My Forexbook.

Other notable details will be mentioned later in this Vantage FX review.

Account Types

Three types of accounts on Vantage FX are well laid out. Depending on the choice, though, trading conditions will differ.

Standard STP

Straight-through processing accounts need to be intermediaries for a position to be opened.

Commission-based RAW ECN

Spreads are fixed to nearly zero here, but commissions of approximately $6 per lot are charged.

PRO ECN

The PRO ECN is the best Vantage FX has to deliver—it doesn’t disappoint. To add, commissions are significantly reduced to $4 per month, and cash backs of $2-$8 per lot might even be achieved.

Cent Account

The cent account gives beginners a low entry point to this broker’s services. Also, it can be used to test strategies by veteran traders.

Spread

Depending on the account choice opted for, expect spreads to be different. Floating spreads start from 1.4 pips and will creep up on other currency pairs. Alternatively, raw spreads are available, but higher commissions are charged naturally.

Leverage

The maximum leverage on Vantage FX is 1:20 on stocks and 1:500 on forex pairs.

Lot Sizes

The minimum lot size for a trade is 0.01 lot. I searched far and wide for the highest lot size on this platform, but there was no information on their trading portal.

Minimum Deposit

The minimum deposit is $50, which doesn’t apply to the PRO ECN account, which has a much higher figure.

Furthermore, Kudus thanks this broker for providing a variety of deposit options. Some deposit and withdrawal options are Bank transfer, Visa and Mastercard, Neteller, Skrill, FasaPay, etc.

Trading Platform(s)

One common complaint of the Vantage app is the appearance of ads. That aside, it is not capable enough with only 5-time frames to view each pair and only several indicators to mark up with.

However, news, signals, and trading videos are integrated seamlessly, ensuring you’re current on economic events.

Lastly, copy trading is available on three platforms: Zulutrade, Duplitrade, and Myfxbook.

Education

Trading Central provides this trading platform’s educational content. Trading Central is one of the leaders in the foreign exchange market in terms of education and research.

About 130 videos are available on the web portal, accompanied by daily updates on the official YouTube channel.

Nevertheless, most of this content can only be accessed through a Pro ECN account, which can only be acquired by a $1000 minimum deposit.

Customer Support

Customer support can be reached even on weekends through live chat, phone numbers, and electronic mail. However, I wouldn’t recommend using mail to lay a complaint since responses are slow.

Besides, responses are helpful and straightforward at all times.

Expert Opinion on Vantage FX’s Services

First, safety isn’t a concern with this broker, with four regulatory certificates from the Financial Conduct Authority (FCA), the Australian Securities & Investment Commission (ASIC), the Cayman Islands Authority (CIMA), and the Vanuatu Financial Services Commission (VFSC).

For traders looking to change brokers, this platform supports a “broker to broker” deposit system. Once an online form is filled out, it is processed in 2-3 business days.

Furthermore, a 50% bonus is promised on all deposits starting from as low as $50. To top this, three account choices are presented to users with commissions of at least $4.

Lastly, services to make trading easier for traders, like copy trading, are well catered for. However, advanced research is only offered to traders with a PRO account (deposit of $1000).

My Personal Experience With Vantage FX

Signing up and setting up with this broker is where they shine. The process is swift, and questions are not overbearing.

Additionally, depositing with this broker is convenient with the extensive deposit options. A deposit can be made directly from any broker if you want to port over.

One frustrating thing was the access to certain perks, e.g., research tools only available to PRO accounts.

Trading With Vantage FX

There are 40 currency pairs tradeable with leverage of 1:500. Moreover, the leverage on stocks is fixed to 1:20 with a commission of 0$ on UD shares.

Furthermore, copy trading is available on three platforms: Zulutrade, Duplitrade, and Myfxbook.

Demo Trading on Vantage FX

Vantage FX offers indices trading; hence, we set out to backtest using our proven forex bot. Unfortunately, this trading session ended in a loss, but risk management was handled brilliantly nonetheless.

Vantage FX Alternatives

My biggest problem with Vantage is the restriction of certain perks to top-end trading accounts.

FXpro is an excellent broker that provides a much more streamlined product lineup; read our review here.

Vantage FX Review Summary

All things considered, VantageFX is a top-tier broker. Furthermore, fees meet the industry standard.

However, if you’re looking for extremely low fees, look some place else.