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VantageFX Review

Published by Usman Ahmed, MBA (Researcher)

Reviewed by Bowen Khong, ACCA

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 content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

VantageFX is an online forex broker that offers premium trading services in Forex and CFDs to its clients all over the world. Multiple trading account types with ECN pricing mechanism and a rich portfolio of tradable instruments make the company one of the most competitive brokers in the forex industry. Whether you enjoy seeking increased market exposure using leverage or prefer staying on the safe edge, VantageFX is worth checking out. 

Overview

In 2009, VantageFX started its operations with a brand name MXT Global. Until 2015, the broker continued to evolve and finally rebranded to Vantage Global Pty Limited. 

Headquartered in the Cayman Islands, VantageFX witnessed enormous recognition in providing world-class trading solutions worldwide. The broker has won multiple awards from prestigious organizations such as IB TIMES, Blue Ribbon, and M&A Today, etc. Despite being a non-listed company, VantageFX renders its regulated trading services across different regions of the world through its subsidiaries and associates, as explained below: 

Name: Vantage International Group Limited (VantageFX)
Regulation: Cayman Islands Monetary Authority (CIMA) & Securities Investment Business Law (SIBL).
License No: 1383491 
Location: Artemis House, 67 Fort St, PO Box 2775, Grand Cayman KY1-1111, Cayman Islands. 

Name: Vantage Global Prime Pty Ltd (Vantage FX)
Regulation: Australian Securities and Investments Commission (ASIC).
License No: 428901
Location: Level 29, 31 Market St, Sydney, New South Wales, 2000, Australia.

Name: Vantage Global Prime LLP
Regulation: Financial Conduct Authority (FCA).
License No: 590299
Location: 7 Bell Yard, London, England, WC2A 2JR (Company No. OC376560).

Given below are some main pros and cons of the VantageFX broker;

ProsCons
Employs STP/ECN trade execution
Strong regulatory framework
Convenient account opening process
Availability of Islamic accounts
Offers cash rebates
Limited financial instruments available
Average customer support
Limited research and educational resources
Not a listed company

Who VantageFX is for? 

Offering reliable trading services across multiple financial markets for more than a decade, VantageFX is equally suitable for both newbie and expert traders. Advanced technical and risk management tools offered by VantageFX provide high volume traders the ultimate confidence to enter leveraged positions. Similarly, the provisioning of unlimited demo accounts help beginners to get their hands on practicing different trading and money management strategies without fearing the loss of investment. Traders and investors having time constraints can sign up for social trading service available at VantageFX and copy trades from other professional traders. 

Cash Rebate: The broker offers a cash rebate of up to $8 per lot to Standard account holders. 

Is VantageFX Safe?

Trust Score: 62 (read more)

Maintaining the highest standards of compliance and transparency, VantageFX gets their accounts audited each year. Similarly, ensuring next-level protection of clients’ funds, the company keeps clients’ money separated from its capital investment and holds all funds with highly trusted banks in Australia. Traders compensation scheme and indemnity insurance offer reasonable assurance to clients that their funds are in safe custody. 

Vantage Group of Companies is fully authorized and regulated in multiple jurisdictions around the world, including Australia (ASIC), Cayman Islands(CIMA), and the United Kingdom(FCA). Considering the multi regulated framework and sound investment security protocols, VantageFX can be regarded as a safe platform for investment.  

Year founded:2009
Publicly traded: No
Licenses: ASIC, CIMA, FCA
Backlist: No

Offering of Investments 

VantageFX offers a wide range of tradable assets. However, the availability of different trading instruments may vary depending upon your country of residence. VantageFX (Cayman Islands) has got more variety as compared to the Australian entity. Clients can trade around 255 CFDs and nearly 44 forex pairs at VantageFX (Australia). Whereas more than 300 positions on CFDs can be opened with the company in the homeland. The broker also supports cryptocurrency trading as CFDs (non-deliverable). 

Rating: 3.5/5

Forex: Spot TradingYes
Currency Pairs (Total Forex pairs)40+
Social Trading / Copy-TradingYes (Zulu Trade, DupliTrade, MyFXBook Autotrade)
CFDs instruments200-300 (Varies from country to country)

Commissions & Fees 

Being a non-dealing desk broker, VantageFX employs an STP/ECN pricing schedule depending upon the type of account a trader chooses. The company does not charge any commission on STP accounts. However, Raw ECN and Pro ECN accounts will have an associated commission starting from $3 & $2 per traded lot in a single go. Spreads charged in Standard ECN accounts start from 1.4 pips. On the other hand, RAW & PRO (ECN) accounts come with spreads starting from as low as 0.0 pips as of this writing. (November 2020)  

Although Pro ECN accounts are mostly used by high volume traders but owing to the most competitive rates, they provide one of main reasons to sign up with Vantage FX. The company also holds a cash rebate offer for active traders, enabling them to make up to $8 a lot. However, traders can only enjoy the rebate program if they choose the standard account type that comes with highest spreads. 

The minimum deposit required to open a Standard, Raw ECN & Pro ECN account with the broker is $200, $500, and $20,000, respectively. Standard account holders are allowed to convert promotional credit into cash, whereas Raw ECN or Pro ECN accounts do not have this facility available.

Minimum Initial Deposit$200 (Standard Account), $500 ( Raw ECN), $20,000 (Pro ECN)
Average Spread EUR/USD – Standard1.4 (November 2020)
All-in Cost EUR/USD – Active0.80 (November 2020)

Platforms & Tools 

As far as trading platforms and tools are concerned, VantageFX takes pride in offering the industry’s best trading platforms, such as MT4, MT5, along with add-on features in collaboration with third-party vendors. In addition to online and desktop trading platforms, the mobile trading app is also available at VantageFX. 

Equipped with a wide range of trading instruments and custom-developed indicators, clients can use MetTrader4 to access the market for trading across 40 currency pairs, 20 commodity items, 13 indices, and 100+ share CFDs. Advanced level traders can take advantage of Metatrader5 which is simply the upgraded version of MT4. In addition to various other features, Mt5 offers charts in 21 time frames. 

Vantage offers leverage upto 1:500 to help clients maximize their earning potential with increased market exposure. By employing hedging techniques, traders can be in a better position to diversify their trading risks at VantageFX. The broker allows all trading strategies including scalping as well as use of EAs.

Social trading might be the most attractive feature for novice traders. Similarly, traders who are unable to find spare time for forex trading can also take advantage of the copy trading facility offered by VantageFX.  

Virtual Trading (Demo)Yes
Proprietary PlatformNo
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Charting – Indicators / Studies (Total)51
Charting – Drawing Tools (Total)31
Charting – Trade From ChartYes
Order Type – Trailing StopYes

Research  

There is a great roam for improvement if you check out the research section of VantageFX. The broker presents only a small number of in-house developed research tools. Most of the resources available on the VantageFX platform are from outsourced channels such as Trading Central. The broker offers only a few in-house developed tools such as forex sentiment indicators and a few calculators. 

The broker posts video tutorials on its official youtube channel on and off, but most of the time, the tutorials have similar content that can sometimes sound a little boring to newbie learners. On the other hand,  resources from Trading Central offers a decent collection of informative videos. 

VantageFX claims to offer pro trader tools to clients depositing $1000 or more through its unique client portal, which seems to have missing integration with the platform that might offend some clients. 

VantageFX trading section might be useful to clients seeking trading signals from the company. However, the analyst views might sound robotic. 

In short, VantageFX needs to work on its research section. Full integration of research tools and client portals into the trading system seems to be the most important step in this domain.

Education  

Similar to the research section, I was not unable to find enough material to be useful in the education section of the broker. The limited variety of written content might not be helpful for newbie traders. With some videos on the usage of available trading platforms, VantageFX provides a wide range of video tutorials in collaboration with third party channels such as Trading Central. Still, the broker needs to add more content to its video library. Along with daily technical or fundamental articles, the broker might also consider adding a glossary section that allows traders to understand different trading terminologies. 

Mobile Trading 

On-the-go users can choose between two trading apps at VantageFX to install on their mobile phones. VantageFX offers its custom made mobile trading app along with the mobile supported version of MT4.  Both trading apps are made compatible with android and mac based mobile phones and tablets. Traders can install each of them via Google Play Store or App Store. 

The company’s proprietary trading app is a kind of simple app with limited functions to explore. Annotating through charts, traders can switch them to a full-screen mode and that is the only feature I liked the most. Rest are a handful of overlays, and trend indicators, indicating that the company still needs to go a long way to compete with mobile trading apps offered by the competitors. 

Mobile devices Apple, Android
FeaturesCharting options, Trade placement

Final Thoughts 

VantageFX is a good company when it comes to selecting a regulated broker with reasonable pricing. Along with low minimum deposit requirements, the broker does not restrict traders from employing hedging or scalping strategies. Similarly, VantageFX is authorized by multiple regulatory bodies from various parts of the world. The broker also offers low spreads along with good trading conditions.

Usman Ahmed, MBA (Researcher)
Usman Ahmed, MBA (Researcher)
Usman Ahmed is a currency trader and financial market analyst with more than 7 years of active trading experience. Besides holding a Masters degree in Business Administration, he has worked for some of the most renewed companies in the forex industry including FXCM, IQOption, MetaQuotes, Alpari, FXStreet, DailyFX and several others. Usman possesses strong technical analytical skills and is famous for his very own, informative and entertaining, writing style. He believes in naked chart trading analysis that is commonly known as price action trading. He follows global financial news and macro-economic events very closely.
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