Of course, a free Demo account is also available, which is always appreciated by newbies, and micro lots can be traded on both STP and ECN account types.
What is more, Vantage FX offers Multi Account Manager Solutions (MAM / PAMM accounts). The broker has teamed up with MetaFX to create a special MAM console.
The Company. Security of Funds
Established in 2009, VANTAGE FX is an award-winning NDD broker, offering online trading in more than 40 currency pairs, commodity & indices CFDs and binary options.
The company behind the VANTAGE FX brand is Sidney-based Vantage Global Prime Pty Ltd., regulated by the Australian Securities and Investments Commission (ASIC) in Australia.
Australia has become one of the main forex hubs worldwide due to the favorable conditions for both brokers and traders: scalping and hedging are allowed, the FIFO rule is not applicable, and there is no leverage cap.
The Australian watchdog applies certain rules and requirements to license holders, the most important being the minimum capital requirements and the clients’ money rule: Client funds must be kept in segregated trust accounts (separated from the companies operating funds), and forex brokers must hold at least $ 1 million as a proof of good financial standing.
Australian FX broker regulation, however, does not include any compensation scheme in case a licensed company becomes insolvent. For more ASIC-regulated brokers, click here.
Trading Conditions
Minimum Initial Deposit
Traders are required to deposit $100 in order to open an account with VANTAGE FX, which is an average initial amount. In comparison, ASIC-regulated XM requires $5 and FOREX.com - $250 for its Mini account.
As a NDD broker, VANTAGE FX offers variable spreads. The broker quotes as typical for the Standard STP commission-free account spreads of 1.4 on the EUR/USD pair, which is average for the forex market. Spreads on the Raw ECN account, on the other hand, are really tight, averaged just 0.1 pips on EUR/USD. Taking into account the commission applicable to this account type ($3 per standard lot per side), average trading costs for the EUR/USD pair are around 0.7 pips, which is considerably lower than the typical spread that we find other brokers are quoting which is about 1.5 pips.
In comparison, XM also offers average spreads of 0.1 pips for the EUR/USD pair on its Zero account and charges $5 per standard lot. You may check out and compare the real-time spreads of 15 leading brokers here.
Maximum Leverage
Clients of VANTAGE FX are able to use leverage ratios up to 1:500 and such maximum leverage level is considered high. Some jurisdictions set limitations on leverage, which are significantly lower than this, i.e. 1:50 in the US and 1;25 in Japan. Most brokers usually offer leverage of up to 1:200 or 1:400, for instance global broker FXCM, also holding an ASIC license, provides leverage up to 1:400; forex.com – up to 1:200 as regards clients outside the US. However, many brokers provide leverage ratios exceeding 1:500, for instance XM offers leverage up to 1:888.
Trading Platforms
With this broker investors can trade forex, commodities and indices CFDs through the MetaTrader 4 (MT4) platform and MetaTrader 5 platforms.
MT4 provides all the tools and resources a trader needs: a number of built-in technical indicators, advanced charting package, a wide range of Expert Advisers (EAs) and extensive back-testing environment. EAs allow full automatization of trades, so traders may sit back and let the program do all the work. MT4 is available as a desktop download and, along with mobile trading apps, a web trader is also accessible at Vantage FX.
While we are still on the topic of technology, we should probably mention the SmartTrader Tools package offered by the broker, which is quite impressive. This tools package is available to all clients with deposits of at least $1000.
In addition, Vantage FX has teamed up with both Zulutrade and Myfxbook’s AutoTrade to bring traders two of the most popular FX copy trade services available.
Vantage FX has also formed a strategic partnership with London Stock Exchange listed Tech Financial in order to provide its clients with access to the cutting edge web based Binary Options Trading Platform.
Bonuses and Promotions
By the time of writing this review this broker offers its clients the following promotions:
- FX rebates (10% bonus) for deposits between $1,000 and $200,000;
- $100 refer a friend bonus for each newcomer who opens an account with Vantage FX with a minimum deposit of $1000;
- Rebates as a result of joining PayBackFX: 0.3 pips or $0.75 per round-turn lot on the Stadard STP or RAW ECN accounts, respectively
VANTAGE FX offers its clients the following deposit/withdrawal methods: via credit/debit card, wire transfer, BPAY, Neteller, and Skrill.
Vantage FX does not charge any internal fees for electronic deposits or withdrawals. However, please note Visa & MasterCard payments will incur a fee.
PROS
RAW ECN account commission only $3.00 with competitive raw ECN spreads
Standard account runs STP processing and a transparent Forex rebate program… get 10% forex rebate credit from your own trades!
Free Smart Trader Tools package which definitely improves the MT4 platform
Active traders can earn 8.88% interest on account balance
Forex traders using EAs with Virtual Private Server (VPS), can get their monthly VPS costs reimbursed
Non-expiry demo account for live account holders
Excellent customer service
CONS
Does not offer CFDs on equities. This will not be an issue for traders if they don't require stock/share CFDs
MT4 trading platforms may not be as easy to use as some other web platforms, however is extremely stable & functional. All funded accounts also receive free access to the SmartTrader Tools Package which enhances the MT4 platform.
Conclusion
Vantage FX is a reliable and well-regulated NDD broker, offering competitive trading conditions for trading in various currency pairs and CFDs.
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