Vantage FX Review 2024: Is it a good broker?

Pros and Cons of Vantage FX

Every exchange has its pros and cons that define it. There isn’t an absolute app; instead, Vantage FX outperforms in certain areas.

Pros:

1. There are up to 1000 tradable symbols, including currency pairs and contracts for differences for users.
2. Vantage FX is highly regulated with licenses from top-tier regulatory agencies.
3. Excellent Integration of trading view into its MetaTrader Suite.
4. Free Trading signals for every trader and multiple social copy-trading platforms.

Cons:

1. Vantage doesn’t offer in-depth education and research for its users with little or no knowledge.
2. Investors with a low budget can’t access a pro ECN account, which requires a minimum deposit of $20,000.
3. Withdrawals of funds are very slow and require users to agree to certain terms and conditions.
4. Traders on standard accounts do not qualify for rebates except if they deposit $10,000 and above.
5. Compliance with international and national laws for most customers.

Vantage FX Security & Regulation

According to Jeff Bezos “A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.”

VantageFX ensures to have a smooth operation and maintain its reputation by keeping all aspects of its brand standard like with Users security. Vantage FX is considered for its relative security level and how it has been able to preserve and maintain it for over a decade.

Login into the platform is a one-step procedure that authenticates Users. There’s an added level of confidence for every user; knowing the tiers of security and regulatory agencies they comply with is essential.

At the moment, Vantage FX has registered under four notable global regulatory agencies; they are ASIC (Australian Securities and Investments Commission) license 428901—an independent commission of the Australian Government tasked with Financial Conduct Authority (FCA) license 590299—is a financial regulatory body in the United Kingdom;

the Vanuatu Financial Services Commission (VFSC) permit No. 700271—is the financial regulatory authority of Vanuatu; the Cayman Islands Monetary Authority (CIMA) license number 1383491—is the primary financial services regulator of the Cayman Islands.

These agencies combined to protect the interest of every trader, maintain an efficient market and keep things orderly for everyone with an account. Although Vantage is not publicly traded on any exchange.

Users Education and Training

Vantage FX doesn’t prioritize training users, which reflects its lack of comprehensive educational material to help traders, especially those with a bit of knowledge or users who prefer education resources.

Compared to counterparts in the industry, there is a vast and noticeable gap. These resources include technical and fundamental analysis classes around topics like the Double EMA.

The learning center includes a library of over 130 videos from the Pro Trading series, covering the simple aspect to the more complex part of CFD, forex and cryptocurrency. However, there are no comprehensive resources on both simple and complex trading, an example is volume based analysis.

Account Types

Vantage Fx has three different account types for users to select; the standard STP, RAW ECN and Pro ECN.

Each of these different account types has its requirements and benefits. However, trading terminals and leverage are the same regardless of the account type chosen.

Standard STP:

Vantage considers this the best account type for traders willing to test the water of live accounts. There are 400 traceable assets on an STP account. To get started, traders are required to deposit a minimum of $50, and you’ll get a leverage of up to 500:1 on each trade placed.

Finally, your standard STP account can be easily linked with Vantage MetaTrader apps (MT4 & MT5), and there are no commissions attached.

Raw ECN:

Vantage Raw ECN was created to further transparent trades and give access to cost-effective Forex trading solutions and an opportunity to trade on Institutional-grade liquidity. Commissions here are as low as $3. There are over 1000 asset classes to be tradeable here with a minimum trading deposit of $50.

Pro ECN:

This account is strictly created for professional traders, money managers, and algorithmic traders. The benefit of this is the extra low commission fee of just $1.50. There are over 1000 classes of tradable on this account type. You’re required to make a minimum deposit of $10,000.

Tradable Assets

There are several markets available for traders using Vantage; the number you find available is subject to the regulator you’re registered to.

The Vantage Australian brand has 257 markets, while the Cayman brand has approximately 201 markets. These markets include Forex Trading for Spot CFDs, social/copying trading, and cryptocurrency (CFDs).

International and US stock trading (non-CFD) is unavailable on Vantage FX. In addition, there’s no trading of physical cryptocurrency except for cryptocurrency CFD.

Trading Platforms

Vantage has approached this in a completely different style. Asides from its trading app, there’s the inclusion of different MetaTrader suites. The Vantage App and the MetaTrader apps (MT4 and MT5) are available on iOS’s App Store and Android’s Google Play.

The trading platform comes with the added benefit that sets Vantage apart. For example, while using the chart, traders have 15 drawing tools and 30 trading indicators to select from. There’s the watchlist that accommodates a total of seven fields.

Vantage has also joined forces with AutoTrade to allow you to copy from only successful Forex traders. The three auto-trading platforms available are ZuluTrade, DupliTrade, and Myfxbook’s AutoTrade.

Withdrawal And Deposit

Making withdrawals and deposits on Vantage FX is easy and secure, making the entire process perfect for every user.

Depositing on Vantage doesn’t require a fee or attract any charges. However, there are specific exceptions like broker-to-broker transactions and depositing Via China Union Pay.

Some of the most common methods of payment outside of credit or debit cards include bank transfers or electronic wallets such as Union Pay, Bitwallet, Cryptocurrency, Skrill, Neteller, Fasapay, Astropay, BPAY, etc.

Not every broker supports payment electronically but has other methods available; an example is Spreadex.

Withdrawing also follows the same principle of depositing; there are no withdrawal fees for credit or debit cards and electronic wallets. There’s an exception for international bank withdrawals, which after the first withdrawal, subsequently becomes charged.

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