Vantage FX review – Is Vantage FX safe?

Vantage FX is a major  broker that offers various CFD instruments and forex trading to many users worldwide.

They are also fully regulated and known for providing secure access to the online markets.

But just how good are they?

 To help you find the answer we have reviewed the broker in detail to see how they hold. Keep reading our Vantage FX review to learn all you need to know about the company.

Let’s get started!

Vantage FX Availability

Vantage FX is primarily an Australian broker as it was founded there in 2009 and continues to have its headquarters based in Sydney.

 Although they have many users from Australia using the platform, the broker is available to residents of many other countries.

 For example, the platform is available for users across Europe and the United Kingdom, plus Latin America.

 Vantage FX is also offered to South African and most Canadian residents – (excluding British Columbia).

 The broker can also accept clients from many Asian countries including China and South Korea, the only exception being Japan.

 Unfortunately the broker cannot accept any traders from the USA as clients.

 Other places where Vantage FX is not supported include Russia, Ukraine, Venezuela and a few African countries such as Egypt, Sudan, Tunisia and Somalia.

 

Is Vantage FX safe or a scam?

Vantage FX and all of its subsidiaries are completely licenced and regulated. This means that they are legally allowed to operate and are monitored by official financial authorities.

 Because the broker is fully regulated, you can be reassured that Vantage FX is not a scam. It’s secure to use their platform.

 Let’s take a quick look at their regulation details now:

 All the subsidiaries below belong to and trade under Vantage FX

• Vantage Global Prime Pty Ltd is regulated by ASIC in Australia (ASFL #428901)
• Vantage Global Prime LLP is regulated by the FCA (#590299)
• Vantage International Group Ltd is regulated by CIMA (#1383491)

  All regulated brokers must follow strict rules that protect you and other traders against financial scams which has happened with unregulated brokers.

 For example, Vantage FX must keep funds that are held in trader’s accounts segregated from the company funds that are used to run the business.

  The broker is also known for making transparency a priority on their platform. They believe that integrity is key, which is why transparency is a core part of the company ethos mentioned on their website.

 This is further proof that Vantage FX is not a scam.

 

Vantage FX Awards

When it was launched in 2009, the  team behind Vantage FX wanted to provide access to a powerful platform and to make forex trading more transparent and secure.

 They have succeeded as they continue to attract new clients and have won many industry awards.

 In fact, they’ve won multiple awards from various publications and respected industry figures over the last few years.

 For instance, in 2019 they won the award for being the Financial Trading Service Provider of the Year, very impressive.

 Let’s take a look at some of their most recent awards:

• 2019 Financial Trading Services Provider of the Year, awarded by Corporate Vision Magazine
• 2018 Financial Trading Services Provider of the Year, won at the Fintech awards
• 2017 Winner of the Financial Trading Services Provider of the Year, from the Global 100
• 2016 Winner of the Best Customer Support, awarded by Fore X
• 2012 Winner of the Best Forex Education Award, nominated by the IB Times

Vantage FX Key Features Review

It’s good to know the key features of a broker, so you know what to expect from trading with them.

 Let’s take a look at some of Vantage FX’s now:

• Vantage FX Minimum Deposit: RAW/ECN account:$500 Standard/STP:$200
• Minimum Trade: 0.01 Lot
• Leverage: 1:500 (up to 1:30 for European traders)
• Assets: 180+ CFD assets – forex, indices, commodities, shares & crypto
• Vantage FX App: Yes with a MetaTrader mobile app
• Vantage FX Demo Account: Yes
• Platform: Mobile, Web, MT4, MT5, ZuluTrade

 One main feature of Vantage FX is the range of trading platforms that they have available for traders to choose from.

 Unlike some brokers who may just offer one self-developed platform, in comparison Vantage FX has a good selection.

 The fact that they offer the MetaTrader4 and MetaTrader5 is impressive, especially as they’re both market-leading and professional platforms.

 So if you’re interested in automated trading by using an EA (Expert Advisor) the MT4/MT5 is a platform that offers these advanced features.

 We are also impressed that a mobile trading app is available as well, as this is a must for any trader who wants to trade from on the go.

 It’s worth noting that the minimum deposit amount changes depending on which trading account you choose.

 The Vantage FX Standard STP account has a minimum deposit of only $200, which is a fair and competitive amount, especially for novice traders.

 Whereas for the popular RAW ECN account the minimum deposit is $500.

 If you start trading with broker you’ll also gain access to the platform’s superb educational tools.

 

Vantage FX Spread and Fees

Vantage FX aims to provide low spreads to their clients so that they can be a true ECN/STP broker.

 To do this the broker collects the finest bid & ask prices from a number of selected liquidity providers that are partners of Vantage FX.

 In fact, they source directly from some of the worlds leading investment banks such as HSBC, JPMorgan, Citibank and RBS with zero mark-up applied by the broker.

 This deep liquidity means that tight spreads can be offered.

 Currently the average spread for the broker’s individual trading accounts look like this:

• Standard STP accounts are from 1.4 for AUD/USD & from 1.6 for the currency pair of GBP/USD
• RAW ECN accounts are from 0.1 for EUR/USD, from 0.6 for GBP/USD & from 0.4 for AUS/USD

 Regarding commission fees on trades, Vantage FX keeps an updated commission charge table on their website for RAW ECN and the PRO ECN accounts.

 The Standard STP trading account remains commission free.

 For the accounts with commission though, the amount is calculated by lots in the base currency.

 Currently the table is split between commission between 0.01 lots and 1.00 lots so you can easily calculate the figure based on your trading volume.

 Generally for the RAW ECN account though the commission starts at $3.00 per lot, per side.

 

What to trade on Vantage FX

With Vantage FX, there are over 180+ assets which are all available to trade as CFD’s (Contract for Difference).

 Here’s a list of the CFD financial instruments available:

• 40+ forex currency pairs
• indices – with access to 15 of the major stock markets
• stocks
• commodities – soft commodities also included
• cryptocurrencies

 We found that 180+ assets, although maybe not the largest offering on the market, is still a fair amount for any professional trader to work with.

 All the assets can be found on both the Vantage FX MT5 and MT4 platforms.

 The fact that the broker also offers soft commodities alongside traditional commodities intrigued us. Soft commodities is the term that refers to materials that are grown instead of being mined.

 

How to use Vantage FX

The Vantage FX platform is designed well and with the user in mind, so that navigating the platform is easy.

When you are logged into your live account you’ll be able to monitor your trades and manage your account directly from the platform’s control panel and via the secure Vantage FX client portal.

It’s from these panels that you’ll be able to made deposits to your account as request withdrawals. We’ll take a closer look at these points later in this review.

However, there are a few differences between the account types as well as the platforms on offer. These are the types available:

Platform formats offered

• MetaTrader4
• MetaTrader5
• WebTrader
• Mobile trading app

Additionally social trading is offered via ZuluTrade which provides you access to a wide range of professional traders who you can follow.

So if you’re new to trading and want to learn strategies from others it’s an ideal platform to use alongside the MetaTrader. Best of all it’s possible to copy the performance of other traders directly within the account.

To use it you just need to open a live trading account with Vantage FX and link your account to ZuluTrade.

After this is done you’ll be able to see everything linked from ZuluTrade straight into your Vantage MT4 or MT5 trading account.

These are just some of the platforms available on Vantage FX. However, it’s important to know that there are different trading accounts available to go with each platform.

This is why you must select the account type that meets your requirements.

 Let’s take a close look at the Vantage FX account types now.

 

Vantage FX Trading Platform Review

There are 3 main trading accounts and 1 Islamic account offered by the broker:

• RAW ECN
• Standard STP
• Islamic Account
• PRO ECN (aimed at companies)

 Each of the accounts is different because they offer various conditions.

 The broker’s most popular account is the RAW ECN because it offers spreads from 0.0 and has won many industry awards.

The RAW ECN also provides some of the lowest costs for trading in the market, this is thanks to an ECN execution that does not need a dealing desk.

 Keeping your trading costs low is the key to making greater profits.

 Additionally the broker also uses high quality liquidity providers so that traders can gain access to deep liquidity pools. The RAW ECN account is ideal if you have some solid experience of trading and you want access to low spreads and deep liquidity.

Alternatively if you’re fairly new to trading the Vantage FX Standard STP account may be more suitable. Mainly because it offers commission free trading and direct market access to a range of CFD assets.

 The PRO ECN accounts are suited for money managers who very professional traders who wish to deal with high volume trading. This is a better option for companies.

 For Muslim clients, the broker also offers a specialized Islamic account which offers interest free trading conditions that are in line with Sharia law.

 The Vantage FX Islamic account has been certified as Shariah compliant by the Chairman of the Shariah Supervisory Board, Sheikh Hasan Qamra.

All accounts are accessible for the MT5 and MT4 platforms. It’s also possible to upgrade or change your account type at anytime.

The Standard and RAW accounts operate in the following 8 base currencies: AUD, USD, EUR, CAD ,GBP, JPY, SGD and NZD.

 

Vantage FX Demo Account

One important feature that all good forex brokers should offer is a demo account.

A demo account can help you get an idea of how the platform works and whether it’s the right account for you.

Best of all because it’s free, there’s no need to invest actual money, instead virtual funds can be spent when test trading on the demo version.

The demo account provides access to analysis tools and the latest market price data.

Currently each Vantage FX demo account is valid for 30 days before expiring, but if you need a non-expiring demo you just need to email the customer support team to request it.

 It’s also possible to switch to a live trading account at anytime when using the demo.

Also if you already have a live account with the broker, it’s possible to access the demo version when you wish. A lot of professional traders will still test out trading strategies in their demo account first before placing it as a live trade.

Signing up for Vantage FX’s demo account was very fast and took us less than 3 minutes to do. You just need to provide some personal details such as name, email address and phone number.

The next step is choose which type of platform you would like the demo to run in, so you can choose between the MT4 or the MT5.

Then select which account type to have, you can either have the popular Raw ECN account or the Standard STP version. Finally you need to decide which currency you would like the demo account to run in.

Once all these steps are complete you’ll be able to enter and use the Vantage FX demo.

 

Vantage FX Education

One important feature that Vantage FX offers to all clients is their free educational tools.

 The education package has been designed to help forex and CFD traders of all experience and skill levels.

 Tools available include step-by-step guides and live talks that cover a range of subjects. For example, there are guides on a range of topics including learning to trade forex and understanding market analysis.

 Additionally there are live webinars from market experts and professional traders.

 There are also detailed user manuals and video tutorials that explain how the MT4 and MT5 platforms work, including dedicated videos the SmartTrader MT4 tools.

 We’d recommend that you check out the educational tools so that you can improve your general trading knowledge for free.

 

How to Open a Vantage FX Account

It’s easy to open an account with Vantage FX and it took us around 5 minutes to do.

 First you will need to create a trading account with the broker by signing up to become a Vantage FX user.

 You’ll need to provide your name, nationality, mobile number and email address.

 Then you also need to select that you want an ‘individual’ not a company account.

 The next step is to also need to provide an identification number from an official identity document such as your passport, national I.D. Or driving licence. This is required, so they can check your identity against the account name for verification purposes.

 Next you will be redirected another page where you need to provide more info about yourself such as your residential address as well as answer some personal financial questions.

 The questions regarding finance and employment are not meant to be nosey, but have to be asked as part of regulation rules.

 For instance, one of the questions asks about your current employment status and another asks about your annual income.

 It may seem odd to be asked this but Vantage FX needs to ask in order to be compliant with anti money laundering rules and to fulfil regulation requirements.

 However, you do not have to be specific with your answer and give a set number. Instead you can just select from one of the prepared answers in the drop down menu.

 The last segment to fill in is to answer questions on your investment and trading experience.

 We would always recommend being quite truthful here because the broker will estimate which trading level you are based on the answers you have provided.

 

Account Review and Verification

Before you can start trading with Vantage FX, it’s very important that you confirm your identity in order to have your account verified.

Account  verification is important because it means that the broker can make sure that you’re the rightful owner of your trading account. The broker also needs to legally check your identification as part of the regulation licencing rules.

To get your account verified you’ll be asked to upload a copy of your identification document as part of the final stage of your account creation.

You can either use a scanner to copy and upload the document,  or you can take a clear picture of the document using your smartphone instead.

You need to upload one of the following I.D. Documents:

• Valid Passport
• Valid Driving Licence
• National Identity Card
• National Proof of Age Card

Generally it’s easier to upload a passport if you have one, because all the other ID documents must be notarised (officially certified) by a qualified person to show that it’s a true document.

A qualified person could be a pharmacist, police officer, lawyer or anyone from an authorized profession listed by the broker.

Once the account has been verified you’ll be able to start trading straight away.

If you have any questions at all the customer service team can be contacted at anytime for support.

 

Vantage FX Minimum Deposit

When you make the deposit it’s important to remember that you have to meet the minimum deposit that is set for your account type in order to begin trading.

These are following first deposit amounts for Vantage FX:

• RAW ECN – the first deposit is $500
• Standard STP account- the first deposit is $200

 You can pay the deposit using one of the following account base currencies:

 AUD, GBP, CAD, EUR, SGD, NZD, GBP and JPY

If you wish to open a live forex trading account with a $0 balance and not trade for a while this is possible too.

 

Vantage FX Withdrawal

Requesting a withdrawal can be done straight from your account or via the secure Vantage FX client portal. You just need to log in to the client portal with your login details.

Like the deposits, it’s completely free to make withdrawals from your Vantage FX trading account.

Again, you should check whether your bank or credit card will charge any extra fees for payment processing.

As standard with most brokers, it’s best if you select the same payment method that you made the deposit with for the withdrawn money to be sent too.

For instance, if you made the deposit using an e-wallet like PayPal, then you should request that the withdrawn funds are sent to the same PayPal account.

The broker can also not confirm withdrawals to a payment method that is in another person’s name. It must be in your name that is registered to your trading account.

This rule is for purely security reasons and to prevent account fraud.

When you have made the withdrawal request the customer support team will check and process the request.

The withdrawal requests are processed from between Monday to Friday, 09:00 to 19:00 (AEST time). If the request is received after 19:00, it will be processed the next business day.

If there are any issues at all the support team will reach out to you.

 

Vantage FX Withdrawal Review

We found the Vantage FX withdrawal steps simple to follow and the fact that there are no withdrawal fees charged is impressive.

Regarding the time it took for the withdrawn money to be showing in your account all depends on the payment method selected for withdrawal.

E-wallets are normally the fastest way, whereas credit/debit cards can take from 3-5 days and bank/wire transfer between 3-7 days.

The only thing to remember is that because the customer support team is available Monday to Friday, that any withdrawal requests made over the weekend will not be dealt with to Monday morning.

Vantage FX Contact Details

It’s easy to get in touch with the Vantage FX customer support team. Currently they have the following contact methods:

• live chat
• phone call
• email

The live chat system can be reached via the client portal or from the Vantage FX website.

You just need to click on the ‘Chat‘ button which is located in the bottom right corner of the screen to talk to a team member.

Besides that they also have an Australian plus an International phone number which can be called to reach the support team.

For clients in the United Kingdom, China and Canada there’s also a dedicated phone number for each country.

If you wish to get in contact via email, the broker can be reached at: support@vantagefx.com

You should hear a response from email messages within 24 hours.

Conclusion Vantage FX Review

Vantage FX is definitely an impressive regulated Australian broker, and we can see why they have won multiple awards from industry figures.

We liked that they had a good selection of forex currency pairs as well as a wide range of CFD assets such as cryptocurrencies, stocks and commodities.

More impressive was the fact that they offer both a wide range of trading accounts plus the MetaTrader4 and MetaTrader5 as platform options which is a great platform to use, especially if you’re a professional trader.

Alternatively if you’re a new to forex, the MetaTrader analysis tools and Expert Advisor feature is a great way to start trading.

If you’re looking for social trading to learn from other we’d also recommend using the ZuluTrade add on that is provided by the broker.

Because they’re fully regulated by ASIC, FCA and CIMA you can also be reassured that you are dealing with an authorized broker that has a strong reputation in the market. You can feel secure setting up an account with them.

Unfortunately they still don’t provide service to residents of the USA, so if you’re a citizen of the United States you’ll need to find another broker trader to use.

It’s also worth remembering that the leverage cap is set at 1:500, so 5000 dollars.

However, you can submit a request for the increase of the leverage cap via your client portal if you wish.

It’s important though that you recognise the increased risk if this is done, so we suggest that only very experienced traders consider doing this if required.

Overall though, Vantage FX is a very solid broker option in the CFD and forex market that could benefit most traders.

Here an overview on how to choose the best forex broker for beginners and their reviews: https://tradingonlineguide.com/best-forex-trading-platform/