Low - VariableVantage Markets Review
Table Of Content 👇
One of the leading online brokers based in Australia, Vantage FX offers a range of trading services, enabling clients to access the international Forex market. Benefiting from award-winning customer care and with a commitment to delivering fast transactions, VantageFX is a significant player in the online broker arena.
| 💱 Instruments | Currencies Crypto Indices Metals Energies Softs Stocks |
| 💳 Funding & Withdrawal | Visa/Mastercard, Wire, PayPal, JCB, Skrill, Neteller, Fasapay, Bitcoin, UnionPay, Bpay, Poli, AstroPay |
| 💻 Broker Type | STP | ECN |
| 👨🏽💻 Account Types | Standard STP, Raw ECN, Pro ECN |
| ⌛️ Language | English, French, German, Spanish, Vietnamese, Korean, Arabic, Portuguese, Thai, Malaysian, Chinese, Indonesian, Japanese |
| 🎮 Virtue | Connected with several trading independent networks. |
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Pros / Cons
- Commission-free trading accounts.
- Wide range of asset classes.
- Up to 1:3000 leverage.
- Forex ECN trading available.
- Access to 300+ Forex, share, commodities, and stock index CFDs
- Regulated by several top-tier financial institutions such as the FCA, CIMA, VFSC, and ASIC
- Vantage FX Clients’ funds are held in segregated accounts with an AA-rated bank in Australia
- Leverage of up to 500:1
- Paper trading demo account with a virtual account balance of $100,000
- Fast and easy account opening process
- 3 trading accounts for all types of traders
- Spreads from 0.0 pips and commission from $0 depending on the account type
- Forex spreads from just 0.0 pips on Vantage FX Raw ECN accounts
- Offshore regulation.
- No MetaTrader MAC version.
- Product selection limited to CFDs
- No banking licence
Account Types
Besides being able to select between a dummy (practice) and a live account, traders may open an individual standard or Raw ECN account. Other account options include joint accounts, company trading accounts and Trust trading accounts (either as individuals or as a partnership).
In addition, there are also Islamic accounts (with no carryover) and Professional accounts, with increased leverage, but less regulatory protection.
Assets And Markets
Traders on VantageFX.com are able to access: Forex (38 currency pairs are available); 24 different types of CFDs (trades which don’t involve currency); cryptocurrency trading (as part of CFD); indices trading; and commodities trading.
Trading Platforms
The site uses mainly Metatrader software, giving users access to MT4 and MT5 as well as Markettrader, Webtrader (which doesn’t require a download), Apps for mobile trading, MAM/PAMM, Zulu trading and MyFXBook Autotrade.
The mobile app is available across platforms.
There is an emphasis on robot trading, where trades are made automatically within predetermined parameters.
The new MT5 platform enables many of the popular automated trading tools and add-ons made possible by the Metatrader community.
| Account Type | Minimum Deposit | Minimum Trade Size | Leverage | Spreads from | Commission |
|---|---|---|---|---|---|
| Standard STP | $200 | 0.01 lot | Up to 500:1 | 1.4 pips | $0 |
| RAW ECN | $500 | 0.01 lot | Up to 500:1 | 0.0 pips | From $3.00 per lot per side |
| PRO ECN | $20,000 | 0.01 lot | Up to 500:1 | 0.0 pips | From $2.00 per lot per side |
Trading can be accessed either wholly online or through the 24/7/365 support team. They can be contacted by phone, email or live chat.
Overall the site is fast and fairly intuitive to use. Drop down tabs give easy access to the various features and markets available.
| Non-trading fee | Charge |
|---|---|
| Account Fee | None |
| Deposit Fee | None |
| Withdrawal Fee | None |
| Inactivity Fee | None |
Spreads and Commission
Generally, VantageFX.com is in line with most of the other key players in the online trading industry when it comes to spreads and commission rates. The Standard STP account does not attract a commission, but spreads are noticeably larger than those found in the Raw ECN account (commission-based). For the Standard STP account, an indicative spread of 1.4 (EUR/USD) is quoted. For the Raw account, the average spread is quoted as just 0.1 pips, but commission is payable. Demo and Islamic accounts are also available.
Leverage
For VantageFX.com, leverage ratios start at 100:1, rising to a maximum of 500:1. Access to the higher levels of leverage is limited, with only some clients and accounts being eligible. Clients who wish to access higher levels of leverage need to apply directly to Vantage. Ratios are broadly in line with what others are offering in the industry, but traders who prefer a higher risk approach may find the 100:1 restriction constricting on occasion.
Deposit and Withdrawal Payment Options
Traders can deposit funds using: Mastercard; Visa; Swift; BPay; Skrill; Poli; Neteller. Funds deposited via a credit or debit card will normally be visible in the account and ready for use within sixty seconds. Bank wire transfer or BPay deposits will normally reach the account the day after they are deposited.
Withdrawals can be made either manually or online. Withdrawals are processed daily. In most cases, if the withdrawal request is received before 1200 AEST, the withdrawal will take place the same working day. For requests received after this time, or if the volume of requests is particularly high, the withdrawal will be processed the next working day.
| Payment Method | Processing Time | Fees | Available Currencies |
|---|---|---|---|
| Domestic Electronic Funds Transfer | 1-2 business days | $0 | AUD |
| International EFT | 2-5 business days | $0 | AUD, USD, GBP, EUR,SGD, JPY, NZD, CAD |
| BPAY (Australia Only) | 1-2 business days | $0 | AUD |
| Credit/Debit Card (Visa/Mastercard) | Instant | $0 | AUD, USD, GBP, EUR,SGD, JPY, NZD, CAD |
| JCB | Instant | $0 | JPY |
| China Union Pay | Instant | 1.30% – 2.50% | USD |
| Neteller | Instant | Subject to Neteller’s fees | AUD, USD, GBP, EUR,SGD |
| Skrill | Within 24 business hours | Subject to Skrill’s fees | USD, EUR, GBP, CAD |
| Broker-to-Broker Transfer |
2-5 business days | Subject to bank transfer fees | AUD, USD, GBP, EUR,SGD, JPY, NZD, CAD |
| FasaPay | Instant | $0 | USD |
| Domestic Fast Transfer (Australia Only) | Up to a few hours, during AEST Business hours | $0 | AUD |
| POLi Payments (Australia Only) | Within 24 business hours | $0 | AUD |
| AstroPay | Instant | $0 | USD and the majority of local currencies |
| Thailand Instant Bank Wire Transfer | Instant | $0 | USD |
For Australian clients, the funds should normally be in their bank accounts by the next working day. Overseas clients may have to wait several days for the money to reach their accounts.
1:500
Vantage FX is part of Vantage Global Prime Pty Ltd. and is regulated and authorised in various jurisdictions around the world. This includes top-tier financial regulators such as the Cayman Islands Monetary Authority (CIMA), VFSC under Section 4 of the Financial Dealers Licensing Act, the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC).