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 inUK, Australia, Vanuatu, Cayman Islands
🛡️ Is Vantage FX safeYes
💰 EUR/USD Spread1.15
💳 Minimum depositUS$200
💰 Withdrawal feeUS$0 (with some exceptions)
🖥️ Trading PlatformMT4, MT5
📈 Markets offeredForex, Indices, Stocks, Commodities, Cryptocurrencies
📉 Number of Products310 (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 entityRegistered inRegulatorLicense numberAccepting clients fromCompensation scheme amount
Vantage International Group LimitedThe Cayman Islands Cayman Islands Monetary Authority (CIMA)1383491GlobalNo compensation scheme
Vantage Services LimitedVanuatuVanuatu Financial Services Commission (VFSC)700271GlobalNo compensation scheme
Vantage Global Prime Pty Ltd
Australia
Australian Securities and Investments Commission (ASIC)428901AustraliaNo compensation scheme
Vantage Global Prime LLPUnited KingdomFinancial Conduct Authority (FCA)590299United 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.

Vantage FX VFSC License Page

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 Standard STP account. For Raw and Pro ECN accounts, the broker charges commission along with nil or tight 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)
AUDAUD $0.03
(round turn $0.06)
AUD $3
(round turn $6)
USDUSD $0.03
(round turn $0.06)
USD $3
(round turn $6)
GBPGBP £0.02
(round turn £0.04)
GBP £2
(round turn £4)
EUREUR €0.025
(round turn €0.05)
EUR €2.5
(round turn €5)
SGDSGD $0.035
(round turn $0.07)
SGD $3.50
(round turn $7)
JPYJPY ¥2.75
(round turn ¥5.50)
JPY ¥275
(round turn ¥ 550)
NZDNZD $0.0325
(round turn $0.065)
NZD $3.25
(round turn $6.50
CADCAD $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)
AUDAUD $0.02
(round turn $0.04)
AUD $2
(round turn $4)
USDUSD $0.0175
(round turn $0.035)
USD $1.75
(round turn $3.5)
GBPGBP £0.0125
(round turn £0.025)
GBP £1.25
(round turn £2.5)
EUREUR €0.015
(round turn €0.03)
EUR €1.5
(round turn €3)
CADCAD $0.02
(round turn $0.04)
CAD $2
(round turn $4)
JPYJPY ¥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.

MarketsInstruments1st trade2nd trade3rd tradeAvg. spread
ForexEUR/USD1.151.11.21.15
IndicesFTSE 1001.050.80.80.88
StocksApple11.511.17
CommoditiesGold2.852.252.152.42
CryptocurrenciesBitcoin18.118.122.8919.70

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.

MarketsInstrumentsAvg. spread charged in our tradesIndustry avg. spread
ForexEUR/USD1.151.6
IndicesFTSE 1000.881.5
StocksApple1.171.5
CommoditiesGold2.423.8
CryptocurrenciesBitcoin19.7045

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 AccountStandard STP AccountPro ECN Account
Trading PlatformsMetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5
Account CurrencyAUD, USD, GBP, EUR, SGD, CAD, NZD, JPY, HKDAUD, USD, GBP, EUR, SGD, CAD, NZD, JPY, HKDAUD, USD, GBP, EUR, SGD, CAD, NZD, JPY, HKD
Minimum deposit$500$200$20,000
Commission$3 commissions per standard lotNil$2 commission per standard FX lot
Order executionMarket ExecutionMarket ExecutionMarket Execution
SpreadFrom 0From 1.4From 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:

  1. Enter first name, last name, country, phone, email, and account type (individual, company, or professional).
  2. Provide personal details like date of birth, place of birth, and identification (type and number).
  3. Enter national insurance number, address, taxation country, and declare non-US citizenship.
  4. Provide employment and financial details like employment status, occupation, employment sector, annual income, and estimated size of the investment portfolio.
  5. Provide details on trading knowledge and experience.
  6. Configure the trading account: choose the trading platform, account type, and account currency.

We submitted the following documents to verify our Vantage FX account:

  1. Copy of national identification (both front and back)
  2. Copy of our bank statement

The registration process took around 7 minutesOur account was verified on the same working day, in fact, it was verified within 2 hours.

Our account was registered on March 24, 2021, and approved on the same day.

Our overall account opening experience was smooth and without any issues from registration to verification.

Vantage FX Account Opening

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.

Minimum Deposit

The minimum deposit on Vantage FX varies with the account types.

  • 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 transferscredit 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 MethodSubmitted DateFunded Account DateFunding TimeFee
Credit card2021-03-242021-03-24Instantzero
Neteller2021-03-242021-03-24Instantzero
Skrill2021-03-242021-03-24Instantzero
Vantage FX Deposit and Withdrawal

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 MethodSubmitted DateFund Released DateFund Arrived DateWithdrawal TimeFee
Credit card2021-03-242021-03-252021-03-262 working dayzero
Neteller2021-03-252021-03-262021-03-261 working dayzero
Skrill2021-03-262021-03-262021-03-26Few hours1%

Markets and Products

Vantage FX offers CFDs trading services with forex, indices, stocks, commodities, and cryptocurrencies instruments.

The complete list of Vantage FX offerings are:

MarketsInstruments
Forex44
Indices16
Stocks and ETFs226
Commodities19
Cryptocurrency5

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 MethodAllowed
HedgingYes
ScalpingYes
Change LeverageYes

Leverage

Leverages offered by Vantage FX on various asset class are standard, as per the regulatory requirements, and are detailed below:

MarketsVantage Global Prime LLPVantage Global Prime Pty LtdVantage Services LimitedVantage International Group Limited
Major Currency Pairs30:130:1500:1500:1
Non-Major Currency Pairs30:130:1500:1500:1
Gold20:120:1500:1500:1
Other Commodities (except Gold)20:120:1200:1200:1
Indices20:120:1200:1200:1
Stocks5:15:1200:1200:1
CryptocurrenciesNA2:1500:1500:1

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 typesMT4 STP, MT4 ECN and MT5 accounts
Maximum payoutUp to $250 bonus credits
Minimum deposit$200 and up to $500
EntityVantage Services Limited
RequirementA minimum $100 balance is needed for eligibility

You can check further the terms and conditions of the bonus program here.

The 10% rebate program under Vantage Global Limited (The Cayman Islands):

Account typesMT4 STP accounts
Maximum payout$20,000
Minimum deposit$1,000 and up to $20,000
EntityVantage Global Limited
RequirementA 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 DepositRebate amount per 1 standard FX lotRebate 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 DepositRebate amount per 1 standard FX lotRebate amount
$10,000$230% redeposit bonus
$30,000$430% redeposit bonus
$100,000$630% redeposit bonus
$300,000$830% 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.

Vantage FX Bonus

Copy Trading

Vantage FX offers copy trading services with three third-party service providers:

  • ZuluTrade
  • MyFXBook Autotrade
  • DupliTrade

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.

Vantage FX Trading Platforms

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)
Vantage FX Pro Trader Tools

Education

Vantage FX 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 Video Tutorials

Customer Service

Vantage FX has decent customer support.

Traders can contact the broker via:

  • Live chat 
  • email
  • 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.

QuestionResponse TimeQuality of reply
Live ChatAsked if Vantage FX change any deposit or withdrawal fee10 secondsClear and accurate
EmailAsked about the regulated entity of Cypriot traders15 minutesIndirect answer
Vantage FX Customer Support Live Chat

The broker also has a detailed FAQ section for frequently faced issues.

Conclusion

Our overall experience with Vantage FX was positive.

The 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.


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.

I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets.

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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