Vantage FX is a market leader among Australian Forex brokers, offering traders access to Forex markets, Cryptocurrencies, Indices, Commodities, and Shares CFDs. The organization has consistently been a secure, safe forex broker that offers extremely transparent market access. A highly qualified team of individuals with experience in technology, forex, and finance created Vantage FX in 2009. Its mission was to help clients achieve their financial goals by offering robust trading platforms, transparent forex market access, award-winning customer care, and remarkable execution speed.
Vantage FX takes pride in providing superior service and access to the forex markets to both retail and professional traders. Furthermore, it aims to improve its offers to remain superior to the competitors in terms of service.
What is Vantage FX?
Vantage FX is one of the world’s major foreign exchange and CFD brokers, with its headquarters in Australia with ASIC regulation. It is currently a subsidiary of Vantage Global Prime Pty Ltd. It provides access to over 300 currencies, commodities, share CFDs, indices, and other financial instruments. Vantage FX gives forex traders access to the world’s most liquid stock market Indices, including the S&P 500, DAX, FTSE, DJ30, and others. CFDs are complex products with a significant risk of losing money, necessitating cautious tactics.
The firm has established a next-generation environment to avoid accounts from losing money quickly owing to leverage and the intricate nature of these investment products (Raw ECN). It is one of the only real ECN brokers, allowing traders to trade forex pairs directly on institutional grade liquidity pools from the world’s major banks and institutions, with no spread betting mark-up.
However, in certain situations, the traders charge a tiny fee of $3.00. It is one of the Best MetaTrader Brokers in 2022 and the Best Copy Trading Brokers. Vantage FX separates itself from other MetaTrader-only brokers by providing a wide choice of extra add-ons and third-party platforms and tools compatible with MetaTrader.
The ASIC-regulated online forex broker provides live trading servers in New York and London, two important financial centers. These servers offer easy access to ECN market liquidity, which you may subsequently stream into traders’ MT4 retail investor accounts.
Pros and Cons of Vantage FX
Pros
- The Vantage brand is regulated in two tier-1 jurisdictions and one tier-3 country, making it reliable forex and CFD broker.
- Holds indemnity insurance for additional protection beyond regulatory requirements.
- Vantage has done an outstanding job of integrating the TradingView platform within the MetaTrader package.
- Smart Trader add-ons for MetaTrader and numerous social copy-trading platforms are available.
- Vantage FX is one of the Best MetaTrader and Best Copy Trading Brokers for 2022.
Cons
- The Pro ECN account has a $20,000 minimum deposit, making it unsuitable for low-budget investors.
- A $1,000 payment is necessary to access Trading Central’s Pro Trader Tools.
- Spreads on the Standard account are unimpressive unless you deposit at least $10,000 to qualify for active trader incentives.
Vantage FX: Is It Trustworthy?
Vantage FX prioritizes transparency, especially considering the volatility of the currency market. As a result, the organization goes above and beyond to guarantee that it is always ready to fulfill the demands of clients and continue to provide dependable and great services. Furthermore, Vantage FX believes it must earn trust, which helps the firm separate itself from rivals. It actively supports honesty and ethical procedures to win that confidence while providing the best services available.
Vantage FX is likewise concerned with keeping its reputation for providing integrity. To do this, the corporation aligns its interests with its clients, ensuring everyone is working toward the same goal. At the same time, the firm keeps itself entirely accountable for its solutions, allowing Vantage FX to ensure that its demanding standards are never compromised.
Vantage FX Standards
Vantage FX’s standards, as a result of its ASIC regulation, are a regulatory benchmark internationally. As a result, it provides customers with a high level of trust. KPMG rigorously audits it regularly. KPMG is a global network of professional businesses providing audit, advising, and tax services. Additionally, KPMG examines Vantage FX’s financial reports and Australian Financial Services License on an annual basis. Furthermore, KPMG undertakes quarterly assessments of client money controls, with all reviews and audits according to Australian auditing and assurance standards.
Furthermore, Vantage FX keeps all client monies separate in a trust account held by the National Australia Bank. This provides additional safety for the money because the National Australia Bank is AA rated and one of the country’s four major financial institutions. It is also frequently ranked among the world’s top 20 safest banks.
Is Vantage FX Governed?
Vantage FX is regulated, and the broker has a license from the Australian Securities and Investments Commission ASIC and the Australian Financial Services Licensing Authority AFSL. Aside from being licensed by the Australian Securities and Investments Commission ASIC, it is also a regulated broker in the United Kingdom by the FCA for institutional clients under the name Vantage Global Prime LLP and the Cayman Islands Monetary Authority. Vantage FX serves Australian retail traders through the Vantage FX brand and the rest of the world through its Cayman Islands business.
Vantage FX Fees
The price is generally in line with the worldwide industry norm. You will have to pay a deposit fee when you transfer money from your bank account to your trading account. The charging schedule for various account types is detailed below:
Standard Account
From April 2021, you must pay a usual spread of 1.1 pips on the EUR/USD in the Standard STP account. The average spread for Raw ECN account types is 0.08 pips, with a $3 fee levied on each side (on a $6 round turn) for a total spread of 0.68 pips.
For Serious Traders
The Vantage FX platform gives active traders an $8 per standard lot incentive. However, the offer is only available on the Standard STP account, which has the biggest spreads of any Vantage FX account. Furthermore, the platform does not impose any inactivity fees, internal deposits, or withdrawal costs. There is also no cost for debit or credit card transactions or electronic wallet withdrawals.
Customers may withdraw funds online by entering the secure Vantage FX client site and clicking on the withdraw tab in the menu. One international bank withdrawal per month is free. However, any future withdrawals on the site are charged in 20 currency units, such as $20 or €20, and so on.
Deposit and Withdrawal Options
According to our review, its consumers have various deposit and withdrawal choices. Users may learn about the broker’s website’s deposit and financing methods by visiting the client’s portal. However, the financing methods differ depending on base currency pairings and account holders’ residency. When trading CFDs, customers must deposit funds solely in their name. It does not permit any third-party payment methods.
Vantage FX limits the number of daily transactions. The maximum amount you can deposit in a day is AUD 10,000 or equivalent in other currencies. The broker also sets a restriction on first-time financing, which is limited to AUD 1000 or its equivalent. Unlike other brokers, there are no margin restrictions.
Final Verdict
Vantage FX is a trustworthy CFD and forex broker that provides various products such as currency pairs, cryptocurrencies, and CFDs. The platform is ideal for new traders and those looking to trade on a tight budget. While the broker’s research and instructional offerings are expanding, Vantage FX still has a long way to go before it can compete with some of the top-rated forex brokers in this area.
However, the restricted product variety and the restriction of investment protection plans for UK residents are a few of the issues the firm should address.
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