Vantage FX Review
- US Users
- 38+ Pairs
- 2 Day Payouts
- Low Deposit
Whether you are looking for FX trading that is suitable for a beginner or you have more experience and are looking to invest more, Vantage FX makes an excellent all-around choice. As one of the few brokers to offer a deposit bonus for adding funds of over $1,000, you can also enjoy added incentives. With strict regulation from ASIC and a good reputation with good reviews across the board, there is no reason for Vantage FX not to be on your shortlist.
An Australian broker licensed by the Australian Securities and Investment Commission (ASIC), with headquarters in Sydney, Vantage FX was established in 2009 to offer FX trading to a worldwide audience. Offering both ECN and STP Forex, you can choose to open an account to trade in either formats.
Most trading is carried out on the MetaTrader 4 platform, a popular choice with many brokers and is available in the web based WebTrader as well as an app in both iOS and Android. They also partner with ZuluTrade to offer social trading. There are many free tools and education including Expert advisors, News Terminals and other trader tools to assist you.
When choosing a broker, it is important to consider what you want from your experience and how they stack up against these requirements. That is why our team of trading experts research each company to find out exactly what they offer and then translate these results to you in the form of an easy to digest review that brings you all the information you need to know.
In this review, you will learn:
- The difference in the ECN and STP accounts
- What you can expect in terms of features
- About the overall experience when trading
The account types offered by Vantage FX are the Standard STP (Straight Through Processing) and the RAW ECN (Electronic Communications Network). There is also a Professional ECN account and a free demo version. The difference between STP and ECN is that with STP, the broker routes your orders directly to the market, there is no dealing desk. With ECN, it acts as a hub which is the liquidity source.
Requiring a minimum deposit of $200, the Standard Account offers you spreads starting from 1.4 pips with zero commission charged. You have access to trade in 40 different FX currency pairs and leverage of up to 1:500. You can enjoy social and mobile trading and choose from a choice of platforms to execute your trades.
RAW ECN Account
For a minimum deposit of $500, you can open a RAW ECN account which will give you excellent spreads form 0 pips although you will pay a commission of $3 per lot per side. Again, there are 40 currency pairs to trade in and a choice of MT4 platforms. The minimum trade size is 0.01 lot and you can enjoy leverage of up to 500:1 although the standard is 1:100.
Pro ECN Account
The Professional ECN account is for those with heavier trading requirements who wish to trade in greater volumes. A minimum deposit of $20,000 is needed to open a Pro ECN and you will enjoy spreads of 0 pips with a $2 commission per lot per side. As with all accounts there are a choice of base currencies to trade in.
Whatever type of trader you are and however large or small your volumes, everyone can benefit from using the free demo. It is easy to sign up for and only requires a name, email address and telephone number. You can also use Facebook and LinkedIn logins to open the account. This is the perfect opportunity to practise trading and get familiar with the platform either on desktop or mobile.
Trade Features And Payouts
When considering Vantage FX, one of the important things to consider is what trade features they offer and what the payouts are like. From the spreads and leverage to the type of trading orders and lot requirements, we take a look at what you can expect.
Leverage is used to increase your position on a trade. A standard lot is the default of both the Standard and RAW ECN accounts and is set at 100,000 units of currency. The minimum trade requirement is 0.01 lots. There are also mini lots and micro lots which represent 10,000 and 1,000 lots respectively.
Spreads with a Standard Account start from 1.4 pips with no commission charged however with the RAW ECN, spreads of 0.0 can be enjoyed but you will pay a commission of $3 per lot per side. These spreads are very competitive when it comes to the RAW ECN account and will vary depending on the currency being traded.
There is some useful help and advice about how to set stop loss orders on the website. It gives you some techniques along with the pros and cons. Take the "Set and Forget" method for example. This basically means you can place your stop loss and let the trade run its course.
It takes away emotional trading and is easy to set up but it can also be tempting to move stops closer to the entry point. There is also information on moving stops to breakeven and trailing stops.
The Vantage FX platform uses the popular MetaTrader 4 platform and Web Trader with MT4 Desktop Client being available to both Mac and Windows users. Whether new to Forex or with more experience, you can enjoy trading on a tried and tested, award winning platform that is also available as an app on both iOS and Android for those who prefer to trade on the move.
An Australian broker licensed by the Australian Securities and Investment Commission (ASIC).
Bonuses And Promotions
Unlike many Forex brokers, Vantage FX actually offer a selection of bonuses. For those that deposit between $1,000 and $200,000, A 15% credit bonus will be added to your account. There is also an 8.88% cash bonus rewarded on balances.
If you refer a friend, when they make their first deposit, you will be rewarded with $100 credit. There are no limits to the number of friends you can refer. There are also other bonuses and promotions offered.
If you prefer to trade on the move, or like the opportunity to trade on both desktop and mobile, then you will be pleased to discover that there is an app available to download for both iOS and Android.
The mobile version of the website is also configured for use on a small screen and is easy to navigate and trade on.
Deposits And Withdrawals
Deposits start from just $100 and you can add funds to your account using credit or debit card, wire transfer or e-wallet. There are also many base currencies to choose from so you may not have to pay a currency conversion.
There are no internal fees charged by the broker for either deposits or withdrawals. Requests that are received before 7pm AEST will be processed that day and funds are returned to the source of the deposit.
One of the special features of the Vantage FX site has to be the Forex Academy. Here you will find a wealth of information for both new and experienced traders with a News Terminal, Expert Advisors, MT4 Smart Trader tools and signals and an economic calendar.
In addition to this there are webinars, workshops and manuals. The fact that you can also choose between ECN and STP trading accounts is also a good feature of this broker.
Customer service is available 24 hours a day, 5 days a week from Monday to Friday. The live chat services cover Australia and Asia primarily and Europe in the morning. Telephone access is available 24 hours a day.
If you are looking for immediate response then it is recommended that you place a call. There is an email if your enquiry is not urgent. The answer to many questions can be found by visiting either the FAQ section or the Help Centre.
Here are the contact details for Vantage FX:
Whether you are looking for FX trading that is suitable for a beginner or you have more experience and are looking to invest more, Vantage FX makes a good all-round choice. With 40 currency pairs to choose from and low spreads, the site is easy to navigate and it is not hard to find answers to the questions you might have. The site layout makes it easy to find what you are looking for either on mobile or desktop and placing trades is straightforward.
As one of the few brokers to offer a deposit bonus for adding funds of over $1,000, you can also enjoy added incentives. There is a choice of trading platforms to suit all preferences and you can enjoy trading on the move. With strict regulation from ASIC and a good reputation with some good reviews across the board, there is no reason for Vantage FX not to be on your shortlist.
Frequently Asked Questions
Is Vantage FX legit, will they scam me?
They may not have the licensing of European bodies but ASIC ensures that they follow a strict set of guidelines. The information online all points to this being a trustworthy broker.
Do they have a decent mobile or tablet app?
For those who like to trade from a phone or tablet, there is an app for both Android and iOS users. Alternatively, the mobile site is responsive and offers an intuitive experience.
What bonus do they offer for new traders?
There are actually a number of bonuses available including a 15% credit for those who deposit between $1,000 and $200,000. You can also enjoy refer a friend and account equity bonuses.
Can I start trading on a free demo account?
Yes, it is common for Forex brokers to provide all clients with access to a demo platform in order for them to try the platform and exercise some trading strategies and techniques.
What's the min. deposit and ideal trade amount?
A minimum deposit of $100 is required to open a Standard STP account and the minimum trade amount is 0.01 of a standard lot which defaults to 100,000.
Jessica has written for us for 5 years and offers a unique perspective due to her having worked in the financial industry internationally. In fact, Jessica has worked in a staggering 8 countries including Germany, China and the USA. Learn more.