Vantage FX Review

Review

Vantage FX is part of the Vantage Group of companies. The company has been active in the Forex market since 2009. This broker primarily caters to retail traders. They offer over 180 assets from the MT4 or MT5 trading platforms with a maximum leverage of 1:500, The minimum deposit at Vantage FX is $200. Vantage FX prides itself on being one of the most transparent brokers, authorized and regulated by the Cayman Islands Monetary Authority (CIMA), and traders are treated to raw spreads from 0.0 pips. Client accounts remain segregated and are kept with the National Australia Bank. The research section is light, and the educational section remains a soft spot. This broker does offer its MT4 SmartTrader tools, designed to upgrade the MT4 trading platform. Overall, Vantage FX makes a solid first impression, but we’ve done a full Vantage FX review so that we can look beyond the first glance.

Vantage FX homepage

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Regulation and Security

Vantage International Group LTD, the owner and the operator of Vantage FX, is authorized and regulated by the Cayman Islands Monetary Authority (CIMA), Securities Investment Business Law (SIBL) number 1383491. All client funds remain segregated and are kept with the National Australia Bank (NAB). This broker conducts regular audits and has professional indemnity insurance that covers its employees, representatives, and other authorized representatives. Despite these steps, we would have liked to see Vantage FX offer an insurance policy for traders in case of financial problems at the brokerage, an offering which is becoming more popular among serious brokers.

Vantage FX publishes its legal documents on its website and is in full compliance with its regulator. CIMA represents a much smaller jurisdiction and currently oversees less than 20 brokers. There is no investor compensation fund as present in the UK or EU, and traders should not confuse this broker’s mention of regulation in Australia and the UK. Clients of Vantage FX are solely under the jurisdiction of CIMA. Broadly speaking, this brokerage offers an acceptable level of regulation and security but remains far behind other well-established brokers.

Vantage FX is authorized and regulated by the Cayman Islands Monetary Authority (CIMA); this small-scale regulator oversees less than 20 brokers.

CIMA regulation

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Fees

This broker derives its fees from spreads and commission on over 180 assets. Raw spreads are noted as low as 0.0 pips, and with a commission of just $6 per lot for a round turn (entry and exit). In this case, Vantage FX offers an extremely competitive trading environment in its Raw ECN account. The Standard STP is commission-free, but spreads start from 1.4 pips; this is fairly expensive as compared to other brokers, and traders are not recommended to use this account type.

Swap rates apply to overnight positions, and both positive and negative swap rates may be incurred. Certain deposit and withdrawal fees apply, depending on the method deployed.

Vantage FX spreads

Another important advantage that we noticed during our Vantage FX review is that the broker advises traders on how to get the most up-to-date swap rates from the MT4 trading platform; most brokers neglect this completely.

Vantage FX fee advice

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What Can I Trade

The asset selection at Vantage FX is acceptable but limited. This broker offers 41 currency pairs, presenting the basics. Seventeen commodity CFDs represent a sound coverage of the commodity market, while fifteen index CFDs allow traders basic cross-asset diversification. 50 US equity CFDs include the most commercial names. The 50 Hong Kong CFDs represent a welcome surprise and demonstrate the Australian connection of this broker. It would be tremendous if Vantage FX extends what it currently offers; most new traders will find the asset selection more than adequate, but more serious traders will explore the limits rather fast.

Vantage FX asset offering

50 US equity CFDs represent the most common names and are sufficient for new traders, but not sufficient for more sophisticated ones.

US Share CFD offerings

50 Hong Kong CFDs marks not only a surprise but represents one of the most attractive features offered by Vantage FX.

Hong Kong share offerings

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Account Types

Vantage FX offers three distinct account types, but the Pro ECN account won’t be an option for most new traders as it requires a minimum deposit of $20,000. Most retail traders will choose between the Standard STP account, with a minimum deposit of $200, or the Raw ECN account with a minimum deposit of $500. The Standard STP account remains free of commissions but spreads start from 1.4 pips, creating an uncompetitive trading environment. To counter the high trading cost, Vantage FX offers a rebate per lot traded in the amount of A $2.00.

The Raw ECN account offers spreads as low as 0.1 pips, although a different section notes it as 0.1 pips with a $6 commission. This represents an extremely attractive offer, and traders are advised to take advantage of it; the minimum deposit of $500 is more than reasonable. The only difference between the Raw ECN account and the Pro ECN account is the commission charged, which drops to $4; it remains challenging to find a better offer in the Forex market. Asset selection across all three account types is the same, and the maximum leverage is capped at 1:500. Islamic accounts are available on request.

Forex traders have access to an outstanding trading environment in the Raw ECN account. Spreads are as low as 0.1 pips, the commission per round lot is just $6, and the maximum leverage capped at 1:500.

Vantage FX account types

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Trading Platforms

The full suite of the MT4 and MT5 trading platforms is offered; this includes the downloadable desktop version, a web trader, and a mobile version. The MT4 trading platform remains the preferred choice, as the MT5 represents a failed successor platform. It was created with US regulation in mind and offers a counter-productive trading environment; the biggest mistake is the lack of backward compatibility with the MT4 platform.

Vantage FX has developed a series of plugins that turn the out-of-the-box MT4 version, lacking critical features, into a much better trading environment. The focus on the MT4 platform over the MT5 option shows that the broker knows what traders want.

Account management is supported through MAM/PAMM accounts at Vantage FX. The superior trading environment allows fund managers to increase revenues for clients, leading to higher performance-based compensation for managers. Vantage FX presents a deep foundation for an advisory business to grow, but an expansion of the asset selection is required to break into the asset management sector with conviction.

The popularity of social trading did not go unnoticed at Vantage FX and this broker offers the popular ZuluTrade platform as well as MyFXBook Autotrade as an option to traders who wish to explore this growing sector of retail trading. This broker is properly positioned to expand its client base that currently stands at over 50,000 active traders.

Vantage FX trading platforms

ZuluTrade remains one of the most popular platforms deployed in the social trading scene.

ZuluTrade offering

MyFXBook Autotrade offers social traders another alternative and diversification option.

Autotrading with Myfxbook

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Unique Features

Three key unique features stand out at Vantage FX. The MT4 upgrade, labeled SmartTrader, is excellent and confirms this broker does care about the trading environment provided; it consists of nine plugins intended to improve the trading environment of the MT4 trading platform while introducing other key features. 

SmartTrader requires a minimum deposit of $1,000, a rare misstep by Vantage FX. New traders may feel compelled to deposit more than initially planned to obtain the upgrade, based on the hope it will increase their profitability. SmartTrader should be offered for all deposits; Vantage FX claims it attempts to level the playing field, granting the upgrade universally to all clients would go a long way in accomplishing it.

VPS hosting is additionally advertised as free, but once again a minimum deposit of $1,000 is required. Vantage FX has four preferred VPS providers listed on its website, and clients need to pay the monthly costs, send the bill to this broker, and then get reimbursed for it. Offering VPS hosting is tremendous as most automated trading solutions will benefit from it, but the way Vantage FX implemented it remains overcomplicated.

Vantage FX deploys the oneZero MT4 bridge, connecting the broker's dark pool to the clients' MT4 platform. The oneZero MT4 bridge is powered by Xeon E7 processors. This broker also uses a high-speed fiber-optic network provided by Equinix, ensuring fast execution speed and installed six servers across the globe.

SmartTrader tools

VPS hosting is offered for free, again starting from a minimum deposit of $1,000. The implementation of free hosting remains overly complicated.

Free VPS but a $1000 deposit is required

Cutting-edge technology powers the competitive trading environment deployed by Vantage FX.

Equinix technology

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Research and Education

The research and education sections offered by Vantage FX remain an area ripe for improvements. Still, traders who don’t rely on broker research, analytics, commentary, and education, will not be impacted by the lack of those departments.

Research

Vantage is offering low-cost trading in a very competitive environment, and the lack of revenues needs to be countered in another area of this brokerage. Vantage FX doesn’t employ its research team, and the sole source is delivered to traders via e-mail, in partnership with Trading Central.

Vantage FX claims a partnership with MetaQuotes, the developer of the MT4 trading platform, granting its traders access to over 3,200 trading signals, free of charge, that would otherwise come at a cost. This broker opted for research and analysis partnerships, rather than providing them in-house. While this is perfectly fine, it does omit a service that we’ve come to value from other brokers.

Sentiment indicators are offered, reflecting the Vantage FX order book only. Eight forex indicators, eight index indicators, and four commodity indicators are available. They are displayed as a gauge, reflecting buy and sell orders. A dysfunctional economic calendar occupies a section of its website, which is a shame as well as an unnecessary misstep.

Education

Education is reduced to how-to video tutorials on how to use the MT4 and MT5 trading platforms on top of its SmartTrader tools. A Learn Forex section is available, but the execution of this idea is terrible. Traders can scroll through written content, but an index of covered content is unavailable; there is no clarity of what to expect with each scroll. Three topics are prepared, but clicking on them, results in no action. The attempt at offering education remains disastrous, and Vantage FX will provide a better service by outsourcing this department as it has done with research.

Vantage FX education section

Traders do have access to third-party trading signals Vantage FX provides in partnership with MetaQuotes.

Vantage FX trading signals

Vantage provides 20 sentiment indicators reflecting its order book.

Sentiment indicators

An under-developed education section is one of the only flaws we found during this Vantage FX review.

Poor education center

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Customer Support

Customer support is offered 24/5 and traders have the choice of calling, sending an email, or reaching out via live chat. The majority of traders never require customer support and Vantage FX has created plenty of videos explaining the basics. An FAQ section was not found, but the provided information on its website should cover most questions new traders may face.

Vantage FX customer support

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Bonuses and Promotions

Vantage FX offers three bonus programs for traders to consider, but a minimum deposit is required to be eligible. The 50% Welcome Bonus is applied to deposits up to $500. For each lot traded, $2 of the bonus cash will be converted into real cash. Traders can withdraw the converted bonus money; this bonus applies to the Standard STP account. The FX Rebates 10% Bonus requires a minimum deposit of $1,000, and 10% is converted into a bonus; the similar logic applies as with the 50% Welcome Bonus. The Active Traders bonus applies for deposits above $10,000 and follows the same structure as the other bonuses. All this narrows the field down to one bonus structure that grants 10% on deposits above $1,000.

Deposit below $500 can apply for a 50% bonus. The bonus percentage remains the same the more you deposit.

Vantage FX bonus

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Opening an Account

New accounts are opened through an online application form, according to Vantage FX it takes less than five minutes. After the application is approved, traders need to submit a copy of their ID, and proof of residency documents. This resembles the standard operating procedure in the brokerage industry and satisfies regulator mandated AML/KYC conditions. Traders should feel secure submitting their information and documents to Vantage FX.

Account registration page

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Deposits and Withdrawals

Vantage FX supports bank wires, credit as well as debit cards, Skrill, Neteller, China Union Pay, Fasa Pay, and PayPal as deposit and withdrawal methods. Broker-to-broker transfers are additionally available for traders who wish to move an existing portfolio to this broker. Deposit and withdrawal fees are waived, but third-party fees are applicable. Transaction times vary between instant and five business days, dependent on the method deployed. Per AML requirements, the name on both accounts needs to be the same. The selection of payment processors remains solid and the terms and conditions follow the standard operating procedures.

Vantage FX banking options

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General Information

Company Information

  • Broker's Name : Vantage FX
  • Headquarter : Australia
  • Regulation : CIMA

Account Information

  • Type of Broker : ECN/STP
  • U.S. Clients Allowed :
  • Maximum Leverage : 1:500
  • Commissions / Spreads : Both
  • Account 1 : Standard STP
  • Account 2 : Raw ECN
  • Account 3 : Pro ECN
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

  • Type of Platform : MetaTrader 4, MetaTrader 5, Web-based
    • Platform Languages :
      • English
    • OS Compatibility :
      • Mac
      • Windows
      • Linux
      • Mobile
      • Web
      • iPhone
      • iPad
  • Trading Signals :
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :

Customer Support

    • Website Languages :
      • English
      • Bahasa
      • Thai
      • Malay
      • Portuguese
      • Chinese
      • German
      • French
      • Italian
      • Arabic
      • Spanish
      • Other
  • Support Hours : 24/5
  • SMS Support :
  • Chat :

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FAQ

Where is Vantage FX located?

Vantage FX is headquartered in George Town, Cayman Islands.

How does Vantage FX make money?

Vantage FX earns its revenues from spreads and commissions charged on over 180 assets.

How can I deposit into a Vantage FX account?

Vantage FX supports bank wires, credit as well as debit cards, Skrill, Neteller, China Union Pay, Fasa Pay, and PayPal

What is the minimum lot size at Vantage FX?

The minimum lot size is 0.01 lots in all three account types.

When does a margin call take place at Vantage FX?

Vantage FX initiates a margin call when the equity margin level reaches 50%.

Is Vantage FX regulated?

Vantage International Group LTD, the owner as well as the operator of Vantage FX, is authorized and regulated by the Cayman Islands Monetary Authority (CIMA), Securities Investment Business Law (SIBL) number 1383491.

What is the maximum leverage offered by Vantage FX?

The maximum leverage is capped at 1:500.

How do I open an account with Vantage FX?

Vantage FX has an online application form which is the standard operating procedure.

Does Vantage FX offer the MetaTrader Trading Platform?

Yes, Vantage FX offers the MT4 as well as the MT5 trading platforms.

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Summary

Vantage FX offers an outstanding trading environment. The asset selection is acceptable for entry-level accounts but requires expansion to attract more sophisticated traders. Technology remains a critical part of operations as evident not only by the hardware deployed but also by the SmartTrader MT4 upgrade offered to traders with a minimum deposit of $1,000. The Raw ECN account is worth such a deposit and the benefits awarded will deliver an even better trading experience, free VPS hosting included; leverage is capped at 1:500 and further enhances the overall service provided to traders.

This broker is regulated in the Cayman Islands, and client protection is slightly less than that of other jurisdictions. Still, Vantage FX remains in full compliance with its regulator, and traders should feel secure with this broker. Research and education are two departments where Vantage FX disappoints, especially when it comes to education. This broker is ideal for traders who don’t require anything from their broker besides great trading conditions.

We have no doubts that Vantage FX is worth considering if you’re looking to expand your brokerage options. An interesting broker to monitor and once more assets are offered, Vantage FX can expand its client base and establish itself as a more dominant force.

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