VantageFX Forex Broker Review
Last Updated: March, 2020.
Founded in 2009, VantageFX is indeed a major brokerage based in Australia, operating under one of the strictest regulatory jurisdictions and thriving.
Like some of its peers out there, VantageFX uses a collection of numbers on its official site, to describe the operation, and to offer up an informative snapshot of its activity in a nutshell.
What exactly do these numbers tell us though? The maximum leverage offered by the broker is a massive 1:500 – indeed rather impressive. The broker offers no fewer than 15 trading platforms and some 70 FX pairs, commodities and indices can be traded. The broker does not charge any account maintenance fees, the spreads start from 0 pips (only on select account types of course) and the minimum required deposit is just $200, placing the services of the broker well within the reach of all those interested to trade.
Why did we call VantageFX’s reputation “spotty” in the title though? While most of the reviews/feedback shared by users of the brokerage through various portals are positive, there are always a few dissenters. Apparently – above and beyond the usual range of complaints regarding withdrawals and trade execution – the broker was involved in a number of allegedly underhanded practices at certain points of its existence.
One such incident saw it deny payment to one of its IBs (Introducing Brokers). After the said affiliate posted a complaint about the operator at one of the review portals, Vantage allegedly offered to pay him only if he first removed the said complaint. Whether or not such stories are true, is quite impossible to verify at this point. Their mere existence and implied credibility raises a few red flags though.
Another such problem was that VantageFX allowed a known scammer to act as an IB for the operation for a while, even though it had been warned in his regard.
The corporate entity behind the VantageFX brand is Vantage FX Pty Ltd. The company is registered in Australia, its registration number being ACN 140 903 886. That said, this company is not the direct issuer of the services presented on the VantageFX website. That honor goes to Vantage Global Prime Pty Ltd, also a registered Australian company, of whom Vantage FX Pty Ltd is an Authorized Representative.
The liquidity partners of the brokerage are some truly high-profile entities in their own rights. We’re talking about the likes of Citibank, JP Morgan and HSBC.
Why would you want to trade with this undoubtedly serious online FX/CFD provider though?
Unlike most other regulated brokerages, VantageFX offers a cash bonus, as well as access to real ECN execution. With spreads starting from 0 pips, its trading conditions are nothing to sneeze at either.
Featuring MT4 as well as MT5, the broker offers its users access to some of the best online trading solutions in existence.
Opening an account with VantageFX is literally a matter of but a few clicks.
VantageFX Market Coverage
The broker supports a relatively standard range of tradable assets: besides FX pairs, indices and commodities covering precious metals, soft commodities and energies, cryptocurrencies are supported too.
Several USD and EUR pairs are offered for Bitcoin, Bitcoin Cash, Dash, Litecoin, Ripple and Ethereum.
On BTC, the maximum available leverage is a very respectable 1:5.
VantageFX Trading Platforms
When it comes to trading platforms, the diversity of VantageFX’s offer is unparalleled. No fewer than 9 options are available, mostly centered on MT4 and MT5.
The world’s most popular trading platform, MT4 is arguably the centerpiece of the VantageFX offer. In addition to its Windows version, which can be downloaded freely from the official VantageFX website, the platform is also available in a Mac version.
MT5 is obviously an upgrade from MT4, yet is it somewhat less popular than its successful predecessor. Those looking for better and easier ways to create personalized technical indicators and EAs, will certainly appreciate the improvements delivered by MT5.
Both platforms are available in mobile formats, so busy traders can continue to trade away while on the move. The mobile versions retain most of the useful features and perks of the full versions.
In addition to all the above, both MT4 and MT5 are available in Web Trader versions, for those who cannot or do not want to download anything to their local machines. The web trader versions are surprisingly capable and customizable as well.
The MT4 and MT5 Web Traders are not the only browser-based trading options though. Developed by ChartIQ, Market Trader is available at the brokerage too. An HTML5-based platform, Market Trader is compatible with just about every browser out there.
The MAM/PAMM account options offered by the broker are obviously aimed at those looking for high-performance trading solutions. Multiple accounts can be managed through this option – very useful for experts trading for several clients.
The MyFxBook AutoTrade feature takes the social trading aspect even further. It allows users to copy the trades of more successful and profitable traders.
The peak of the social trading experience is represented by ZuluTrade though, another solution-provider with whom VantageFX have teamed up.
What Account Types do VantageFX Offer?
VantageFX currently feature 3 account types, of which the most accessible is the Standard STP account – which obviously features STP execution.
This account type offers access to the full range of markets supported by the broker and its minimum balance requirement is $200.
The spreads on this one start from 1.4 pips and the maximum available leverage is 1:500.
The Standard STP account does not charge any commissions.
The next step up the account-type ladder is the Raw ECN account, which is proclaimed the most popular account option of the broker.
The execution on this account is ECN and the minimum balance that it requires is 1:500.
The spreads start from 0 pips (as one would expect from such an account) but there is a $3 commission charged per lot per side.
The Pro ECN account represents the “full extra” option of the broker. The minimum required balance on such an account is $20,000. The trading conditions are truly the best on this one. In addition to ECN execution, the Pro account features spreads from 0 pips and $2 commission charged per lot per side.
The maximum available leverage is 1:500 on this account type too.
In addition to the above detailed account types, the broker offers Islamic account versions too, as well as a Demo account for those looking to put the platform(s) to a risk-free test.
VantageFX Review Conclusion
VantageFX is an online broking powerhouse – there is no doubt about that. Whatever some of its detractors may say, the broker is serious about what it does. It is regulated and it features superb account type- and platform selections.
Its market coverage may not be the best in the business, but it is certainly extensive enough to cater to all possible needs.
Read all fx broker reviewsPlease be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.