Vantage FX VantageFX Review

Vantage FX forex broker Review, News and Promotions
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Trading Accounts

 

Account type Minimum deposit  Minimum trade size Maximum leverage  Average Spreads 
Standard STP  $100  0.01 1:500 1.4 pips on EUR/USD
Raw ECN $500 0.01  1:500 0.1 on EUR/USD + commission of $3 per lot

 

VANTAGE FX offers its clients a choice of two live No-Dealing-Desk (NDD) account types, a commission-free Standard STP and Raw ECN, which provides direct market access to the highly liquid forex market against a reasonable commission fee.
Of course, a free Demo account is also available, which is always appreciated by newbies, and micro lots can be traded on both STP and ECN account types.


What is more, Vantage FX offers Multi Account Manager Solutions (MAM / PAMM accounts). The broker has teamed up with MetaFX to create a special MAM console.


The Company. Security of Funds


Established in 2009, VANTAGE FX is an award-winning NDD broker, offering online trading in more than 40 currency pairs, commodity & indices CFDs and binary options.


The company behind the VANTAGE FX brand is Sidney-based Vantage Global Prime Pty Ltd., regulated by the Australian Securities and Investments Commission (ASIC) in Australia.


Australia has become one of the main forex hubs worldwide due to the favorable conditions for both brokers and traders: scalping and hedging are allowed, the FIFO rule is not applicable, and there is no leverage cap.


The Australian watchdog applies certain rules and requirements to license holders, the most important being the minimum capital requirements and the clients’ money rule: Client funds must be kept in segregated trust accounts (separated from the companies operating funds), and forex brokers must hold at least $ 1 million as a proof of good financial standing.


Australian FX broker regulation, however, does not include any compensation scheme in case a licensed company becomes insolvent. For more ASIC-regulated brokers, click here


Trading Conditions


Minimum Initial Deposit

Traders are required to deposit $100 in order to open an account with VANTAGE FX, which is an average initial amount. In comparison, ASIC-regulated XM requires $5 and FOREX.com - $250 for its Mini account.


Average Spreads & Commissions
As a NDD broker, VANTAGE FX offers variable spreads. The broker quotes as typical for the Standard STP commission-free account spreads of 1.4 on the EUR/USD pair, which is average for the forex market. Spreads on the Raw ECN account, on the other hand, are really tight, averaged just 0.1 pips on EUR/USD. Taking into account the commission applicable to this account type ($3 per standard lot per side), average trading costs for the EUR/USD pair are around 0.7 pips, which is considerably lower than the typical spread that we find other brokers are quoting which is about 1.5 pips.


In comparison, XM also offers average spreads of 0.1 pips for the EUR/USD pair on its Zero account and charges $5 per standard lot. You may check out and compare the real-time spreads of 15 leading brokers here.


Maximum Leverage

Clients of VANTAGE FX are able to use leverage ratios up to 1:500 and such maximum leverage level is considered high. Some jurisdictions set limitations on leverage, which are significantly lower than this, i.e. 1:50 in the US and 1;25 in Japan. Most brokers usually offer leverage of up to 1:200 or 1:400, for instance global broker FXCM, also holding an ASIC license, provides leverage up to 1:400; forex.com – up to 1:200 as regards clients outside the US. However, many brokers provide leverage ratios exceeding 1:500, for instance XM offers leverage up to 1:888.


Because of the risks associated with trading on margin, the default leverage with VANTAGE FX is 1:100 and higher leverage levels are available upon request.


Trading Platforms


With this broker investor can trade forex, commodities and indices CFDs through the most popular MetaTrader 4 (MT4) platform. MT4 is available as a desktop download and, along with mobile trading apps, a web trader is also accessible at Vantage FX.
MT4 provides all the tools and resources a trader needs: a number of built-in technical indicators, advanced charting package, a wide range of Expert Advisers (EAs) and extensive back-testing environment. EAs allow full automatization of trades, so traders may sit back and let the program do all the work.


As most forex traders use VPS technology to ensure that their Expert Advisors can run non-stop, Vantage FX offers its clients a free VPS service on the condition that they reach certain trading volumes (10 standard lots per month on Standard account or 20 standard lots on a Raw ECN account). 


While we are still on the topic of technology, we should probably mention the SmartTrader Tools offered by the broker, which is quite impressive. This tools package is available to all clients with deposits of at least $1000.


In addition, Vantage FX has teamed up with both Zulutrade and Myfxbook’s AutoTrade to bring traders two of the most popular FX copy trade services available. 


Vantage FX has also formed a strategic partnership with London Stock Exchange listed Tech Financial in order to provide its clients with access to the cutting edge web based Binary Options Trading Platform.


Bonuses and Promotions

By the time of writing this review this broker offers its clients the following promotions:


- FX rebates (10% bonus) for deposits between $1,000 and $200,000;

- $100 refer a friend bonus for each newcomer who opens an account with Vantage FX with a minimum deposit of $1000;

- Rebates as a result of joining PayBackFX: 0.3 pips or $0.75 per round-turn lot on the Stadard STP or RAW ECN accounts, respectively


Methods of Payment


VANTAGE FX offers its clients the following deposit/withdrawal methods: via credit/debit card, wire transfer, BPAY, Neteller, and Skrill.


Vantage FX does not charge any internal fees for electronic deposits or withdrawals. However, please note Visa & MasterCard payments will incur a fee.


Conclusion


Vantage FX is a reliable and well-regulated NDD broker, offering competitive trading conditions for trading in various currency pairs and CFDs. To sum things up, here are the advantages and drawbacks with regards to Vantage FX:

 

Pros  Cons
STP/ECN trading model No choice of trading platforms
Low ECN trading cost  
ASIC-regulated   
High leverage levels   
Attractive promotions available  

 

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