This Australian forex broker was founded in 2009, offers several possibilities as it allows access not only to the forex market but also to the cryptocurrency market, CFD of stocks and indices.
Pros
· The first and more important advantage of Vantage FX is the fact that is ASIC- regulated in Australia.
· The minimum deposit of this broker is $100 which makes it quite economical compared to other brokers
· This broker launched bitcoin as a CFD.
· Offers both Meta Trader platforms, MT4 and MT5, which gives you even more freedom and variety and swift trading execution both on PC and mobile.
· Each trader gets a true STP / ECN execution which in no way involve a negotiating table.
· The Vantage FX customer service is of such good quality that it has even been awarded. It also provides 24 hours customer support which is rare.
· The interface of both the mobile application and the desktop version is simple and once you get used it is easy to use.
Cons
· There are just over 180 instruments to trade which is quite low compared to other brokers.
· It is not regulated by the FCA
· The restrictive leverage limits are quite expensive since they start at $ 5,000
· Traders cannot use Vantage FX from the United States, Canada.
Overall Ranking
Overall
Investment Opportunity
Commissions & Fees
Safety
Research
Smartphone Usage
Customer Service
Education
Platforms & Tools
Overall
Investment Opportunity
Commissions & Fees
Safety
Research
Smartphone Usage
Customer Service
Education
Platforms & Tools
Extended Review and Information
Vantage FX is an incredible platform that offers excellent service and access to the currency markets, not only for professionals but also focused on the needs of beginners. This platform works very hard to improve your offers and ensure the trader the highest quality service possible. Average connection time with 24 hour support was only 2 minutes.
The platform is easy to use and works with MetaTrader 4 and MetaTrader 5, platforms that have a lot of respect and a good reputation in the Forex world. These platforms are available in 32 different languages. It is also a platform that is available to be adapted for both Windows and Mac, mobile applications, and a WebTrader interface for more diversity.
One of the reasons why Vantage FX gives so much to talk about (in a positive way) is because of its support for beginner traders, as it also provides a wide selection of educational tools that will help. You can find a step-by-step guide to Learn to Trade Forex, which describes, in general, the structure of the market, market analysis as well as everything related to trader psychology.
Occasionally, there are web conferences that are led by experienced and professional traders on multiple instruments, to cover events, analysis and routines.
It also has a bot that creates exchanges that are performed automatically within predetermined parameters. Not many brokers offer a great service like this, however, is normally used by traders who want to trade small quantities.
How to Open your Account
In Vantage FX, new customers must pass certain basic checks before starting to trade, this is done to assure the client and they are aware of the risks present in the trading, and therefore it is necessary to identify their identity.
To prove identity, clients must send:
– A color scanned photocopy or photograph of your passport, you can also use a drivers license or national identity document.
– A scan or photograph of a receipt of some basic service (bank statements or utility bills), in which your current address is reflected.
Finally, you must answer certain questions to corroborate everything.
Within 48 hours, the platform will decide if the information you shared is correct and will verify your account.
Account Types
The Vantage FX platform will offer you three main types of accounts: Standard STP, Raw ECN and PRO ECN. The standard STP account is the ideal choice for beginner operators. Then, the ECW RAW accounts are ideal for more experienced operators who are looking for clear, and sharp spreads.
Finally, there is the PRO ECN accounts. These are made especially for professionals in the market, so to benefit from Vantage FX fully, these are the preferred account types. Being a Pro ECN client will enable you to have discounted rates, the top customer service, invites to exclusive events, seminars and webinars, and more!
Depositing Methods
A positive aspect of Vantage FX there are no deposit charges. The depositing methods are diverse, making it easy and swift to begin trading; here they include:
– Credit or debit cards
– Bank transfers through SWIFT international and also Australian banks
– Skrill / Moneybookers
-Neteller
– FasaPay
– Transfers from broker to broker.
Most deposits will be shown in your trading account instantly.
Withdrawal Methods
Withdrawals can usually be done manually over email or phone, or online; this will depend on the trader and its possibilities. Withdrawals are processed daily and will be received through the same methods as the deposit one.
Normally, to measure the amount of time in which the money is received by you will depend on whether the withdrawal request is received before 1200 AEST (Australian Eastern Standard Time), in which case the withdrawal will take place on the same business day. If the request is made after this time, or if the volume of requests is particularly high, the withdrawal will be reflected on the next business day.
Regulations and Jurisdictions
Vantage FX PTY Ltd is registered and regulated in Australia and in correlation with all regulatory guidelines of the Australian Security and Investment Commission, therefore all client funds are held in an account of the National Bank of Australia.
It is authorized and regulated by the Australian Financial Services and authorized representatives are covered by Professional Compensation Insurance by the guidelines of the ASIC Regulatory Guide.
Conclusion
Vantage FX is an Australian broker that is especially dedicated to currency trading; you will find great trading rates and especially swift execution. Our favourite aspect of this broker is the effort they go to provide the best service possible for all of their clients at any level. However, this broker is limited by having a low amount of available instruments to trade. To improve, they must expand the options given to clients whilst keeping thier service consistently satisfactory.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. This does not constitute as investment advice or personal recommendations as your specific financial circumstances have not been considered. No warranty is given in regards to the accuracy and completeness of information. Past performance is not an indicator of future results. Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital.