Vantage FX Review
Vantage FX Review
Our Vantage FX review team has followed a strict process to determine that this is a trusted broker, with multiple popular forex trading platforms to choose from and a selection of more than 170 instruments.
Spreads on Vantage FX are highly competitive, as they can be as low as 0.0. The broker also regularly offers a range of promotions and has won numerous awards. You can even use leverage of up to 500:1 to trade with.
Explore the rest of this review of Vantage FX forex broker to see why we consider this the best forex broker and are confident in recommending it.
- Minimum deposit of $200
- Regulated by CIMA
- Supports independent and social trading
- Trade currency pairs, stocks indices, and commodities
- Vantage FX offers only 180 assets
Vantage FX was founded in 2009, which is considered mature in terms of the FX market. The team behind Vantage FX is made up of experts in technology, forex, and finance. The company states that its goal is to provide a transparent offering with access to some powerful platforms. They focus heavily on winning awards with their level of customer service plus providing exceptional execution speeds. These features can aid clients in achieving their financial goals. This Vantage FX forex broker review finds that the values of accountability, integrity, reliability, and trust are firmly represented by this company.
In terms of awards, the most recent award Vantage FX has received was Financial Trading Services Provider of the Year from CV Magazine 2019. In 2018, the broker was the Fintech Awards winner for Financial Trading Services Provider of the Year. It also earned the same honor from both the Global 100 and the Fintech Awards in 2017.
Going back to 2016, The Fore X named Vantage FX the Best ECN Broker, the Best IB Broker, and Best Customer Support. The Forex Awards honored it the same year as the Best ECN/STP Broker. In 2012, IB Times honored it for Best Forex Execution and in 2011, it was Recommended for Forex by Blue Ribbon.
Vantage FX regulation and licensing
This Vantage FX review 2020 aims to bolster clients’ confidence in the broker, by pointing out its regulatory membership by Cayman Islands Monetary Authority (CIMA), which also authorizes the broker. This is part of the Securities Investments Business LAW with number 1383491.
As part of the protocol enacted by this regulator, Vantage FX meets capital requirements, strict auditing and reporting procedures, and internal protocols like regular staff training and financial compliance.
For further peace of mind, all client funds are held at the National Australia Bank, an AA-rated bank, where the funds are kept in segregated accounts. Vantage FX works with 14 different liquidity providers, helping to ensure it always has sufficient depth of liquidity to cover all exposure.
Additionally, Vantage FX has a Professional Indemnity Insurance policy to cover work completed by employees and authorized representatives.
Opening an account with Vantage FX
You can open an account with Vantage FX in a matter of minutes, with the entire process being conducted online.
What is the minimum deposit at Vantage FX?
The minimum deposit is $200 for a Standard STP account. Raw ECN accounts have a minimum deposit of $500 and PRO ECN accounts have a minimum balance of $20,000.
How to open an account at Vantage FX
You should not need more than a few minutes to open your account if you have all the relevant information on hand.
Step 1. Click the red ‘Live Account’ button on the top right of the home page.
Step 2. Fill in your first and last name, country, and mobile phone.
Step 3. Select your account type and click Open Live Account.
Step 4. Submit documentation.
Step 5. Make a deposit.
Step 6. Start trading.
As part of the registration process, you will need to provide some information and documentation. To help you plan, our Vantage FX review 2020 outlines the information you will need below:
- Personal information: As is typical of forex brokers, you will need to provide Vantage FX with your full name, address, email address, and phone number. You will also likely need to submit your identification number.
- Regulatory information: Vantage FX requires regulatory information in the form of the above personal information and the following documentation.
- Documentation: You will need to provide proof of identity in the form of an official photo ID or passport. You may also need to submit proof of address, such as a utility bill. These should generally be dated less than 3 months.
Our Vantage FX review team finds enough variation among the three account types that the broker offers to appeal to all traders.
The Standard STP Account provides direct market access without commissions. It works with MT4 and MT5 and has a full range of assets. There is a minimum deposit of $200 with a minimum trade size of 0.01 lot and leverage of up to 500:1. Spreads start at 1.4 pips. You can choose the base currency like USD, AUD, GBP, CAD, EUR, or SGD.
The RAW ECN Account follows ECN execution with spreads from 0.0 pips and commissions of $3.00 per lot per side. The minimum deposit increases to $500 and this account also has full instrument and platform access, with the same leverage and base currencies. Keep in mind that RAW ECN Accounts are not eligible for promotional credit bonuses.
PRO ECN Accounts are ideal for those who make high-volume trades, with a minimum balance of $20,000. The minimum trade size, leverage, platforms, base currencies, and instruments are identical. Spreads start at 0.0 pips with commissions of $2.00 per lot per trade. This account type is not eligible for promotional credit bonuses either.
Vantage FX also offers a free demo trading account on MT4 with $50,000 in virtual funds. The demo will automatically expire after 30 days, but Vantage FX will extend it for you as many times as you need. This is one way that Vantage FX online broker stands out, as most brokers have limited demo accounts.
Islamic accounts are also available at Vantage FX. These provide a fantastic alternative for individuals that cannot hold accounts that charge certain fees following religious restrictions.
Vantage FX trading costs
As mentioned, you can choose a Vantage FX account that does not charge commission or you can work with the ECN account that charges lower spreads and a commission. The following information is based on the Standard STP account.
Trading Fees* Type of Fee Cost Minimum Order Size (lots per trade) 0.01 lot Average Spread USDEUR (pips) 1.4 Commission (%) N/A Commission on Islamic Accounts (%) N/A Non-Trading Fees Type of Fee Yes or No Inactivity Fees No Deposit Fees No Withdrawal Fees No
*Based on Standard account type.
The trading fees on Vantage FX depend on your chosen account type. If you prefer to pay no commissions, then the Standard STP account will give you tight spreads starting at 1.4 on the benchmark EUR/USD. Alternatively, you can choose an ECN account with starting spreads from 0.0 pips and commissions of $2 or $3 per lot per side, depending on the account type.
Vantage FX charges rollovers, as do most brokers. These are calculated based on the interest rates of the local countries and the market conditions. You can access this info when trading through the MetaTrader or you can speak to the account managers.
Vantage FX does not charge fees for deposits, but the issuing bank may, especially in the case of currency conversions.
As with deposits, Vantage FX does not charge withdrawal fees, but your accepting bank might.
Vantage FX does not charge maintenance fees, a high point in this Vantage FX broker review as inactivity fees are common among competitors.
Vantage FX payment methods
When looking for a payment method to use as you review Vantage FX broker, you should work based on convenience rather than necessity. Funding via Visa and MasterCard can occur in USD, AUD, GBP, CAD, NZD, EUR, JPY, or SGD. This is instant.
You can fund via an international EFT wire transfer for the same currencies, which takes two to five business days.
Other funding methods that support USD include China Union Pay, Neteller, FasaPay, Thailand Instant Bank Wire Transfer, and PayPal, which are instant, and Skrill, which occurs within 24 business hours. Broker-to-broker transfers are also available and take two to five business days.
Funding in AUD is also available via BPAY and POLi Payments.
Following regulations, withdrawing funds from Vantage FX must be done via the same method as your deposit.
Vantage FX trading bonuses
To supplement your trading, this Vantage FX forex broker review found multiple promotions and offers from the broker.
There is a program to refer a friend, which provides both you and your referred friend with a bonus. This requires your friend to fund a minimum amount, which is $1,000 at the time of writing.
Vantage FX also has an Active Traders promotion that you should consider. To qualify, you must be an active trader with at least $10,000 in your account. This results in rebates on your trading that you can cash in as a payment on your account or a gift card. The rebates are applied per standard lot.
At the time of writing, Vantage FX offers a welcome bonus as well. To receive this bonus, you must meet the minimum deposit for the promotion, which is currently $500. The bonus comes in the form of extra equity for trading. Two units of it also get converted into real cash that is withdrawable for each standard lot traded.
Vantage FX trading platforms
With Vantage FX, you can trade on what is commonly accepted as the best forex trading platform, MT4, and its evolved younger sibling MT5.
MetaTrader 4 lets you view nine time frames and has tens of thousands of options. MetaTrader 4 supports Expert Advisors and more than 3,200 professional trading signals. It works on 13 platforms and devices, including desktop and mobile devices and in your web browser.
Trading on MetaTrader 5 provides the ability to view 21 time frames at once, advanced EA for backtesting, and support for trading signals and trading robots. It is also available on desktop or mobile devices.
Our Vantage FX broker review also points out that the broker offers a Multi Account Manager Solution (MAM/PAMM) that is ideal for professional money managers. The allocation speed per account can be up to 5 ms and it supports unlimited trading accounts, partial order closures, expert advisors from the client-side, and all trading styles, including scalping and hedging.
Those interested in social trading can also use ZuluTrade with Vantage FX. This platform lets you follow and copy more than 10,000 professional forex traders and use advanced risk management features.
You can also engage in social trading via Myfxbook AutoTrade, which has more than 90,000 forex traders. This copy trading platform also includes in-depth statistics and analysis.
What is the execution policy at Vantage FX?
The execution policy at Vantage FX is STP for Standard STP Accounts and ECN for Raw ECN and PRO ECN Accounts.
To minimize execution speed, Vantage FX has its trading servers in New York and London. Thanks to a partnership with Equinix, Vantage FX has 99.99 percent MT4 uptime and a 78 percent speed increase. Further speed comes from the oneZero MT4 Bridge, 18 core speed processing, and fiber optics.
Vantage FX markets and products
In addition to forex trading, Vantage FX offers trading of indices, stocks, and commodities.
Vantage FX Markets and Products Instrument Number Currency Pairs 40 Indices 13 Stocks 100 Commodities 20
Vantage FX offers more than 40 forex pairs, including majors, minors, and exotics. Depending on your chosen account type, you can take advantage of spreads as low as 0.0 thanks to the broker’s high liquidity. Leverage with forex on Vantage FX can be up to 500:1.
Vantage FX indices provide access to 15 major stock markets, featuring ultra-sharp spreads and transparent prices. You can enjoy leverage of up to 200:1 and get the fastest execution speed for indices thanks to the Vantage FX fiber optic network and oneZero MT4 Bridge.
With Vantage FX, you can trade US Share CFDs or Hong Kong Share CFDs. US Share CFDs let you trade 50 of the largest companies in the U.S. with commissions of just $6 per trade and leverage of up to 20:1.
Hong Kong Share CFDs include access to the 50 largest listed companies, with the same leverage and the ability to go long or short. Commissions start at 50HK$ per order.
You can trade multiple categories of commodities on Vantage FX. Energy trading includes oil trading starting at 0.01 lot with leverage of 100:1, natural gas with leverage of up to 20:1, gasoline, low sulfur gas with up to 20:1 leverage, and cash oil without monthly rollover fees. Soft commodities include cocoa, cotton, orange juice, sugar, and coffee, and can have leverage of up to 50:1 or 33:1. Vantage FX supports precious metals, including gold without commission, silver with leverage of up to 100:1, and copper with leverage of up to 20:1.
This review of Vantage FX forex broker suggests this broker for those who want to engage in social trading. Between ZuluTrade and Myfxbook AutoTrade, Vantage FX offers more social forex trading options than most competitors.
This Vantage FX review 2020 confirms that the broker excels at mobile compatibility. The website is optimized to function perfectly on mobile or desktop devices, providing you with the same experience.
Additionally, trading on the go is simple with both MT4 and MT5, as both of these trading platforms have mobile applications for the most popular devices, including iOS and Android. ZuluTrade and Myfxbook AutoTrade also have mobile applications for seamless use.
Vantage FX has partnered with Trading Central to provide you with additional research tools. These include the ability to receive twice-daily emails from Trading Central with forex signals and technical analysis reports.
The SmartTrader Tools on MetaTrader 4 help you with advanced analysis. These tools include the Session Map, Mini Terminal, Trade Terminal, Market Manager, Sentiment Trader, Correlation Trader, Correlation Matrix, Alarm Manager, and RTD Link. Each provides its advantages, such as the Correlation Matrix which is a matrix grid that shows your symbols and lets you quickly view strength and scores of correlation patterns.
Clients of Vantage FX can also use the free MT4 trading signals, something our Vantage FX forex broker review suggests you should at least consider to provide additional insight.
To supplement the trading signals and any automated trading method, Vantage FX offers a free forex VPS so you can run MT4 24/5. Many other brokers offer a VPS, but most only have a discount with few offering this service for free.
You can also access the forex economic calendar or look at the forex sentiment indicators.
If you have at least $1,000 in your account, you can also access Pro Trader Tools for free. These include Market Buzz with coverage of 35,000 tradable assets, Featured Ideas with custom filters and more, an advanced Economic Calendar, and Analyst Views.
Education and training
After reading our review of Vantage FX forex broker and then opening an account, you will hopefully have a smooth start in trading with this broker, thanks to the wealth of educational materials they offer. Vantage FX online forex broker has plenty of tools to help you learn forex. The Education Center has a page called Learn Forex that covers all of the basics of forex.
You will find dozens of detailed articles on everything from an overview of the forex market to forex market analysis and forex trading psychology. The latter two of these will also provide new insights for advanced traders who want to enhance their trading skills. Each of the three main categories has at least several sub-sections, each with an overview and multiple sub-sub-sections, offering a very high level of detail.
Beginners will also find manuals for using MT4 and MT5 on Vantage FX, so there should be no doubts when using the forex site. If you prefer visual learning, watch the MT4 videos, covering everything from installation to using various features. Experienced traders will appreciate the videos outlining how to use the many SmartTrader Tools on MT4 as well.
Vantage FX customer support
Most Vantage FX broker reviews from current and past clients praise the broker’s customer service. You can contact support via live chat, the phone, email, or visiting the office in person. Vantage FX also has a presence on Facebook, Twitter, LinkedIn, and YouTube.
Vantage FX also has an FAQ section that offers information divided into three categories: company questions, forex account questions, and platform questions. The FAQ page is laid out in an organized manner. Between this page and the search bar on the website, you should rarely need to contact customer support for answers to questions.
Vantage FX – Our verdict
After compiling this review of Vantage FX forex broker, our team can confidently recommend this broker. Clients will have peace of mind from the regulation they bring and the segregation of client funds with a top-rated bank.
The range of instruments offers something for everyone, whether you want to trade forex, commodities, share CFDs, or indices. This is also one of the few trading sites that offer social trading in addition to traditional trading, yet another high point.
Once you consider the extensive educational resources and research tools available from Vantage FX, it makes sense to at least consider opening a demo account here.
With all the information in this Vantage FX review 2020, you should now feel ready to start trading with the broker.