Vantage FX Review 2024
For this Vantage FX review, we have opened a standard account with the broker and deposited over €5,000.
We traded the popular instrument in each market to get the real spreads and placed a total of 15 trades.
We also reached out to customer support to solve the issues we faced.
Finally, we withdrew our funds to see if there are any issues with the withdrawal process.
What is Vantage FX?
Vantage FX is a forex and contract for difference (CFDs) broker, known for offering forex ECN pricing.
The broker was founded in 2009 and is headquartered in Sydney, Australia.
Vantage FX is regulated in the United Kingdom, Australia, Vanuatu, and The Cayman Islands. Its offerings include trading with forex, indices, commodities, cryptocurrencies, and shares CFDs.
Some of the highlights of Vantage FX are:
| 🗺️ Authorised & Regulated in | UK, Australia, Vanuatu, Cayman Islands |
| 🛡️ Is Vantage FX safe | Yes |
| 💰 EUR/USD Spread | 1.15 |
| 💳 Minimum deposit | US$200 |
| 💰 Withdrawal fee | US$0 (with some exceptions) |
| 🖥️ Trading Platform | MT4, MT5, V Social |
| 📈 Markets offered | Forex, Indices, Stocks, Commodities, Cryptocurrencies |
| 📉 Number of Products | 310 (depends on the jurisdiction) |
Licenses and Regulations
Vantage FX holds 4 regulatory licenses.
The broker is regulated by Australia’s ASIC and the UK’s FCA, both regarded as reputed financial regulators. The other two licenses are from the regulators in Vanuatu and The Cayman Islands.
The full list of Vantage FX licenses is below:
| Legal entity | Registered in | Regulator | License number | Accepting clients from | Compensation scheme amount |
|---|---|---|---|---|---|
| Vantage International Group Limited | The Cayman Islands | Cayman Islands Monetary Authority (CIMA) | 1383491 | Global | No compensation scheme |
| Vantage Services Limited | Vanuatu | Vanuatu Financial Services Commission (VFSC) | 700271 | Global | No compensation scheme |
| Vantage Global Prime Pty Ltd | Australia | Australian Securities and Investments Commission (ASIC) | 428901 | Australia | No compensation scheme |
| Vantage Global Prime LLP | United Kingdom | Financial Conduct Authority (FCA) | 590299 | United Kingdom, Global | £85,000 |
Apart from the Vantage FX brand, the group also runs another forex and CFDs broker brand, Moneta Markets. This review is only for the Vantage FX brand.
Is Vantage FX Safe?
Yes, Vantage FX is a safe broker.
The broker is regulated by two of the most reputed financial markets regulator, the UK’s FCA and Australia’s ASIC. The FCA also offers a compensation scheme of £85,000 to protect clients’ funds.
For our tests, an MT5 Standard STP account with Vantage Services Limited, which is regulated by Vanuatu Financial Services Commission (VFSC).
We recommend you open an account with the UK or the Australian entity if their services are available in your jurisdiction.
Fees and Commissions
Vantage FX fees depend on the account type. Its fees are built into spreads for the Standard STP account. For Raw and Pro ECN accounts, the broker charges commission along with zero spreads or low spreads.
Spreads for our trades were much below the average industry benchmark for all asset classes we traded.
Raw ECN account commissions table:
| Trading Account Currency | Commission per 0.01 LOTS (1000 base currency) | Commission per 1 LOT (100,000 base currency) |
|---|---|---|
| AUD | AUD $0.03 (round turn $0.06) | AUD $3 (round turn $6) |
| USD | USD $0.03 (round turn $0.06) | USD $3 (round turn $6) |
| GBP | GBP £0.02 (round turn £0.04) | GBP £2 (round turn £4) |
| EUR | EUR €0.025 (round turn €0.05) | EUR €2.5 (round turn €5) |
| SGD | SGD $0.035 (round turn $0.07) | SGD $3.50 (round turn $7) |
| JPY | JPY ¥2.75 (round turn ¥5.50) | JPY ¥275 (round turn ¥ 550) |
| NZD | NZD $0.0325 (round turn $0.065) | NZD $3.25 (round turn $6.50 |
| CAD | CAD $0.03 (round turn $0.06) | CAD $3 (round turn $6) |
Pro ECN account commission charges:
| Trading Account Currency | Commission per 0.01 LOTS (1000 base currency) | Commission per 1 LOT (100,000 base currency) |
|---|---|---|
| AUD | AUD $0.02 (round turn $0.04) | AUD $2 (round turn $4) |
| USD | USD $0.0175 (round turn $0.035) | USD $1.75 (round turn $3.5) |
| GBP | GBP £0.0125 (round turn £0.025) | GBP £1.25 (round turn £2.5) |
| EUR | EUR €0.015 (round turn €0.03) | EUR €1.5 (round turn €3) |
| CAD | CAD $0.02 (round turn $0.04) | CAD $2 (round turn $4) |
| JPY | JPY ¥1.75 (Round turn ¥3.50) | JPY ¥175 (Round turn ¥350) |
Spread Charged in Our Trades
For our tests, we have chosen popular instruments in each market. We placed 3 trades for each instrument to get a picture of the average spread.
Our test is based on Vantage FX’s Standard STP account. The spreads for our trades fluctuated but remained much lower than the average industry benchmark for all asset classes.
Details of our trades are shown below the table.
| Markets | Instruments | 1st trade | 2nd trade | 3rd trade | Avg. spread |
|---|---|---|---|---|---|
| Forex | EUR/USD | 1.15 | 1.1 | 1.2 | 1.15 |
| Indices | FTSE 100 | 1.05 | 0.8 | 0.8 | 0.88 |
| Stocks | Apple | 1 | 1.5 | 1 | 1.17 |
| Commodities | Gold | 2.85 | 2.25 | 2.15 | 2.42 |
| Cryptocurrencies | Bitcoin | 18.1 | 18.1 | 22.89 | 19.70 |
Our testing finds that forex spreads much lower than the industry average. Spreads on commodities are also lower than the average benchmark, while for indices, it was higher.
| Markets | Instruments | Avg. spread charged in our trades | Industry avg. spread |
|---|---|---|---|
| Forex | EUR/USD | 1.15 | 1.16 |
| Indices | FTSE 100 | 0.88 | 1.65 |
| Stocks | Apple | 1.17 | 1.75 |
| Commodities | Gold | 2.42 | 3.53 |
| Cryptocurrencies | Bitcoin | 19.70 | 72.81 |
Other Fees
Vantage FX does not have any prominent non-trading fees. The broker offers free deposits and does not have any account maintenance or inactivity fees.
Though withdrawal is free, the broker charges 20 units of the base currency for processing international bank transfers.
Account Types
Vantage FX offers three types of accounts: Raw ECN account, Standard STP account, and Pro ECN account.
Details of all Vantage FX accounts are:
| Raw ECN Account | Standard STP Account | Pro ECN Account | |
|---|---|---|---|
| Trading Platforms | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 |
| Account Currency | AUD, USD, GBP, EUR, SGD, CAD, NZD, JPY, HKD | AUD, USD, GBP, EUR, SGD, CAD, NZD, JPY, HKD | AUD, USD, GBP, EUR, SGD, CAD, NZD, JPY, HKD |
| Minimum deposit | $500 | $200 | $20,000 |
| Commission | $3 commissions per standard lot | Nil | $2 commission per standard FX lot |
| Order execution | Market Execution | Market Execution | Market Execution |
| Spread | From 0 | From 1.4 | From 0 |
Vantage FX also offers swap-free Islamic accounts and corporate accounts.
Account Opening
Our overall experience of opening a new account with Vantage FX was smooth and fast.
We opened a Standard STP MetaTrader 5 account for our tests under the Vanuatu-regulated entity.
The process of registration of a new Vantage FX account:
- Enter first name, last name, country, phone, email, and account type (individual, company, or professional).
- Provide personal details like date of birth, place of birth, and identification (type and number).
- Enter national insurance number, address, taxation country, and declare non-US citizenship.
- Provide employment and financial details like employment status, occupation, employment sector, annual income, and estimated size of the investment portfolio.
- Provide details on trading knowledge and experience.
- Configure the trading account: choose the trading platform, account type, and account currency.
We submitted the following documents to verify our Vantage FX account:
- Copy of national identification (both front and back)
- Copy of our bank statement
The registration process took around 7 minutes. Our account was verified on the same working day, in fact, it was verified within 2 hours.
Our account was registered on March 24, 2023, and approved on the same day.
Our overall account opening experience was smooth and without any issues from registration to verification.
Deposit and Withdrawal
Both deposits and withdrawals on Vantage FX are easy and fast. All our funding and withdrawal requests were completed without any issues.
Vantage FX Minimum Deposit
The minimum deposit on Vantage FX varies with the account type.
- Standard STP Account: $200
- Raw ECN Account: $500
- Pro ECN Account: $20,000
Traders only need to maintain the minimum deposit balance on their accounts.
Deposit
Vantage FX supports deposits with bank transfers, credit and debit cards, and several top online wallets like PayPal, Neteller, and Skrill. The brand also supports broker-to-broker transfer and cryptocurrency deposits with Bitcoin and Tether.
Though deposits are mostly free, China Union Pay transfers might attract a fee of 1.30% to 2.50%.
The deposit methods also depend on the account jurisdiction.
We tested the deposit process on Vantage FX using a credit card, Neteller, and Skrill.
Details of our fund deposits are shown in the below table.
| Payment Method | Submitted Date | Funded Account Date | Funding Time | Fee |
|---|---|---|---|---|
| Credit card | 2023-03-24 | 2023-03-24 | Instant | zero |
| Neteller | 2023-03-24 | 2023-03-24 | Instant | zero |
| Skrill | 2023-03-24 | 2023-03-24 | Instant | zero |
Withdrawal
Vantage FX allows withdrawals via bank transfer, credit/debit card, and online wallets, mostly similar to deposit methods.
Withdrawals are mostly free. For international bank transfers, the broker will charge 20 units of the account base currency, let it be USD, EUR, or AUD.
Overall, our experience with the Vantage FX withdrawal process was positive. However, the broker charged a 1% fee for our Skrill withdrawal, so we do not recommend you using that method.
Details of our withdrawal requests are in the table below.
| Payment Method | Submitted Date | Fund Released Date | Fund Arrived Date | Withdrawal Time | Fee |
|---|---|---|---|---|---|
| Credit card | 2023-03-24 | 2023-03-25 | 2023-03-26 | 2 working day | zero |
| Neteller | 2023-03-25 | 2023-03-26 | 2023-03-26 | 1 working day | zero |
| Skrill | 2023-03-26 | 2023-03-26 | 2023-03-26 | Few hours | 1% |
Markets and Products
Vantage FX offers CFD trading services with forex, indices, stocks, commodities, and cryptocurrency instruments.
The complete list of Vantage FX offerings are:
| Markets | Instruments |
|---|---|
| Forex | 44 |
| Indices | 16 |
| Stocks and ETFs | 226 |
| Commodities | 19 |
| Cryptocurrency | 5 |
The markets and the number of offered instruments will depend on the account jurisdiction.
Trading Conditions
Vantage FX offers excellent trading conditions. It allows both hedging and scalping strategies and traders can change leverage levels too.
| Trading Method | Allowed |
|---|---|
| Hedging | Yes |
| Scalping | Yes |
| Change Leverage | Yes |
Vantage FX Leverage
Leverages offered by Vantage Forex on various asset class are standard, as per the regulatory requirements, with high leverage for Vantage FX International, leverage detailed below:
| Markets | Vantage Global Prime LLP | Vantage Global Prime Pty Ltd | Vantage Services Limited | Vantage International Group Limited |
|---|---|---|---|---|
| Major Currency Pairs | 30:1 | 30:1 | 500:1 | 500:1 |
| Non-Major Currency Pairs | 30:1 | 30:1 | 500:1 | 500:1 |
| Gold | 20:1 | 20:1 | 500:1 | 500:1 |
| Other Commodities (except Gold) | 20:1 | 20:1 | 200:1 | 200:1 |
| Indices | 20:1 | 20:1 | 200:1 | 200:1 |
| Stocks | 5:1 | 5:1 | 200:1 | 200:1 |
| Cryptocurrencies | NA | 2:1 | 500:1 | 500:1 |
Bonus
Vantage FX’s Vanuatu and The Cayman Islands-registered entities offer several promotional schemes to both new and existing global traders.
The 50% deposit bonus promotion under Vantage Services Limited (Vanuatu):
| Account types | MT4 STP, MT4 ECN and MT5 accounts |
| Maximum payout | Up to $250 bonus credits |
| Minimum deposit | $200 and up to $500 |
| Entity | Vantage Services Limited |
| Requirement | A minimum $100 balance is needed for eligibility |
The 10% rebate program under Vantage Global Limited (The Cayman Islands):
| Account types | MT4 STP accounts |
| Maximum payout | $20,000 |
| Minimum deposit | $1,000 and up to $20,000 |
| Entity | Vantage Global Limited |
| Requirement | A minimum $100 balance is needed for eligibility |
The broker also offers rebates on trading fees to active traders (with an account balance of at least $10,000).
Active Traders promotion structure for new traders:
| Minimum Deposit | Rebate amount per 1 standard FX lot | Rebate amount |
|---|---|---|
| $10,000 | $2 | $1,000 |
| $30,000 | $4 | $3,000 |
| $100,000 | $6 | $10,000 |
| $300,000 | $8 | $30,000 |
Active Traders promotion structure for existing traders:
| Minimum Deposit | Rebate amount per 1 standard FX lot | Rebate amount |
|---|---|---|
| $10,000 | $2 | 30% redeposit bonus |
| $30,000 | $4 | 30% redeposit bonus |
| $100,000 | $6 | 30% redeposit bonus |
| $300,000 | $8 | 30% redeposit bonus |
Vantage FX also runs a referral program, offering $150 for each referral and an additional $100 to the new client joined with the referral link.
Copy Trading
Vantage FX provides its copy trading platform with three third-party service providers and one proprietary app:
- ZuluTrade
- MyFXBook Autotrade
- DupliTrade
- V Social
Trading Platform
Vantage FX offers MetaTrader 4 and MetaTrader 5 platforms to the traders. These are industry standard third-party platforms developed by the company MetaQuotes Software.
Both these platforms are available on the web, desktop, and mobile.
Research and Tools
Vantage FX offers some excellent market research and analysis tools. Most of the tools, however, can only be unlocked after depositing over $1,000.
Tools offered by Vantage FX are:
- Good charting tools
- Macroeconomic fundamental data
- Economic calendar
- Trading Ideas
- Forex VPS
- Forex Sentiment Indicator
- Newsfeed (Including an AI-driven market news coverage)
Education
Vantage Trading offers some good quality educational resources. It offers tutorials on forex trading, as well as guides on trading platforms.
- Tutorials on forex trading
- Details manuals and video guides on MetaTrader platforms
- Demo account
Vantage FX Demo Account
Customer Service
Vantage FX has decent customer support.
Traders can contact the broker via:
- Live chat
- Phone
The support staff is available only on weekdays.
Our experience with Vantage FX customer support was mostly positive.
The support staff on live chat was quick enough to answer our query accurately. However, we received an indirect response on another issue raised by email.
| Question | Response Time | Quality of reply | |
|---|---|---|---|
| Live Chat | Asked if Vantage FX change any deposit or withdrawal fee | 10 seconds | Clear and accurate |
| Asked about the regulated entity of Cypriot traders | 15 minutes | Indirect answer |
The broker also has a detailed FAQ section for frequently faced issues.
Conclusion
Our overall experience with Vantage FX was positive.
The forex broker offers a good number of currency pairs, with forex spreads below the average industry benchmark.
Account opening, deposits, and withdrawals are also smooth and fast on Vantage FX.
Our experience with customer support, however, remained mixed as an email response we received provided us with an indirect answer.
We recommend Vantage FX to forex traders who follow strategies like scalping and hedging.
We recommend Vantage FX for traders who are
- Experienced traders
- Beginners
- Run Scalping
- Hedging
- EAs trading
- Trading through MT4
- Looking for good tools
Vantage FX might not be a fit if you are
- Real Stock / Futures Trading
- Commission based trading
- Prefer other platforms rather than MetaTrader
Author of this review
By George Rossi
Author of this review
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.
Now I am passionate about reviewing and comparing forex brokers.
Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology
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