Vantage Review 2024: Pros & Cons

However, it can have a big impact on scalpers who hold trades for a few seconds or minutes. In this instance, even the smallest differences in price can have a significant impact on results. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates.

Demo Account

You can connect a Vantage account with AutoTrade to auto copy and trade with access to in-depth analysis and statistics. You’ll have the ability to manage and customise each copied FX trade and learn from in-depth portfolio statistics. It should limefx broker reviews be noted that historical performance is by no means any guarantee of future performance. From my experience, I have been let down by copying traders on ZuluTrade. I always would prefer to use my own strategy and depend on nobody but myself.

1. The VFSC is not a highly respected authority and does not offer the same degree of protection for retail traders in my view.
2. We noted in the pros and cons section above that one of Vantage’s shortcomings was their lack of available assets.
3. MetaTrader is freely available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).
4. Any subsequent international bank withdrawal within a given month will be charged at 20 of your given currency (i.e. $20 or £20).
5. They also offer services designed for both beginners and professionals with access to Forex ECN trading, as well as CFD trading on Indices, Commodities, and U.S & Hong Kong Shares.

Payment Methods

Another unique feature of Vantage is the PRO Trader Tools available to clients who fund accounts in excess of US$1,000. These tools help investors track over 35,000 tradable assets from around the world. It also grants users access to a premium economic calendar plus use of superior platform tools like MetaTrader 4 and 5. Furthermore, all customer funds are held in segregated accounts, thereby ensuring a greater degree of security.

Assets & Markets

You can get a demo account with nearly all brokers but I always feel it can be a good way to test the service of a particular broker to get a rough idea of what to expect. The Standard STP account is aimed towards traders who want direct market access and prefer higher spreads and no commissions. The minimum deposit required is $200 with variable spreads starting from 1.4 pips. The forex market is the largest in the world in terms of volume with a daily turnover of more than $4 trillion. When trading forex you are speculating on the price of one currency against another as forex markets are traded as currency pairs. Major currency pairs include the EUR/USD, GBP/USD, USD/JPY and EUR/JPY.

Alternative Brokers

The account is only available to residents of South Africa, and the minimum deposit is $50 USD. If you’re an active trader or professional trader, trading more than a few times per week, and you can afford the minimum deposit, you’ll almost definitely want to use the raw ECN account. VantageFX is a non-dealing desk broker, using liquidity from liquidity providers such as tier-1 investment banks and prime brokers to offer straight-through processing (STP) pricing for their clients.

Forex Risk Disclaimer

The only downside is that you don’t get access to a library of additional indicators or trading robots. With this in mind, I think ProTrader terminal is a better choice for intermediate traders or those who aren’t interested in exploring automated trading features. The $1.50 commission per side per lot in the Pro ECN account is particularly competitive, though note that this comes with a $10,000 minimum deposit and is therefore best for active, high-volume traders. The Raw account and Pro ECN offer attractive pricing, especially for experienced investors looking for ultra-tight spreads with low commissions from $3 per side.

Trading App

Compare the markets and instruments offered by Vantage and its competitors. Please note, some markets may only be available via CFDs or other derivatives. While this is pricey, I think the benefits are worthwhile, since I was able to access custom watchlists, hundreds of technical indicators and daily trade ideas. Below is my view on the tools that I think elevate the trading experience.

I like that signals can be filtered according to important statistics such as duration, drawdown, profit (pips / %), amount of trades and more. ZuluTrade have a decent amount of traders to copy, but if you are looking for social trading https://limefx.club/ then eToro would be my top pick. We found VantageFX to have tight spreads and low commissions, beyond that the Forex broker is quite generic with MT4 and MT5 trading platforms and 50+ Forex pairs along with other CFD products.

This reality remains true regardless of whether you’re an experienced investor or a new trader looking to get started in the markets. Safety should be your key focus when selecting the appropriate brokerage account. Thankfully, Vantage FX offers safety features beyond what is required by law. Vantage Markets is a global, multi-asset broker offering clients access to a nimble and powerful service for trading CFDs on Forex, Commodities, Indices, Shares, and Cryptocurrencies. With more than 10 years of market experience and headquartered in Sydney, Vantage Markets now has over 1,000 employees/personnel across more than 30 global offices. Yes, Vantage is a legitimate broker that is authorized by multiple regulators, including the ASIC and FCA.

The range of platforms offered by the broker is among the best in the industry. All of the broker’s platforms are equipped with extensive trading support, ensuring that all its users are kept up to date about the markets. To provide each trader type with an account that matches their needs, Vantage offers a varied pricing and fee schedule depending on user priorities. The straight-through processing order execution (STP) account and Swap-Free Trading Account/s incur no commissions with spreads that start at as low as 1.4 pips.

I feel the Vantage Rewards scheme will be most valuable for active traders, though I strongly urge traders to approach any financial incentives with caution. I have no complaints about the wide range of funding methods at Vantage, with plenty of accessible options for global clients. I can deposit using bank wire transfers, credit/debit cards and e-wallets such as Skrill, Neteller and AstroPay. As you can see from my comparison table below, Vantage stands up well against top competitors when it comes to available payment methods.

Lastly, we have the Pro ECN account, which is extremely similar to the Raw ECN type. The biggest difference is that the account isn’t offered to Australian traders, and comes with a $10,000 USD minimum account opening amount. The advantage of this account is the higher leverage you can trade with but you will need to prove you meet the eligibility requirements set by the FCA. Spreads start from 0.0 pips with the commissions-based accounts and 1 pip with the Standard account and we can say that overall the spreads with the RAW and Pro accounts are quite decent.

The broker is available 24/7, which is a notable advantage compared to the 24/5 support offered by many competitors. Whilst you clearly won’t get the same experience as the desktop platform, you will get an abundance of real-time data and forex market research straight from the palm of your hand. I’m particularly impressed by the quality of research tools in the app.

Social trading is a great way to learn from the top traders in the industry, so it’s great to see Vantage supporting it so well. As a platform primarily dedicated to forex and forex CFD trading, the forex trading on offer is generally pretty solid. Vantage gives users instant access to deep liquidity on the live currency markets across over 40 currency pairs. While quite limited when it comes to the more exotic currency pairs, all of the major currency pairs that you could hope to trade are covered. Generally speaking, the spreads on offer are very competitive and trades are executed incredibly quickly.

The main functionality of the MT5 desktop platform is available through the mobile application. Whilst MT4 remains the most popular trading platform, its successor MT5 has some additional features whilst maintaining the overall intuitive feel and features of its predecessor. Vantage have their MT5 Equinix server NY4 located in New York within close proximity to their primary liquidity providers to help improve execution speeds on your trades. Vantage has professional indemnity insurance cover in place to cover the work done by their representatives, employees and other authorised representatives. I appreciate how they take regulation very seriously and aim to provide a transparent and safe trading environment to all clients whatever their experience level or investment size. If regulation is important to you, Forex.com are also very well regulated.

Although Vantage does not have the widest range of tradable assets, let’s take a few moments to look at what you can trade through the Vantage FX platform. If you have experience trading with Vantage please share your personal review of the broker and what you think are strong and weak points. Spreads are super tight, execution is fast and reliable, platform is great.