Vantage review (VantageFx) -Trading Platform
ProsPositive aspects of the game
- It is regulated by ASIC (Australian Securities and Investments Commission)
- Leverage up to 1:500
- Both MT4 and MT5 Accounts can be used for trading
- here is also the option of trading with 0 % commission
ConsThe disadvantages we highlight
- It has a limited range of instruments
- Available Financial Instruments
- Account Types
- Trading Platforms
- Vantage Fees
- Deposit Fee
- Withdraw Fee
- Vantage Minimum deposit
- Vantage Bonus and Promotions
- Opening an Account
- Who is Vantage Recommended For?
- Vantage Alternatives
Founded in 2009, Vantage (VantageFX) allows its users to access the forex market, indices, stocks, and commodities. There are several Vantage trading platforms from where users can access the forex market. These platforms are MetaTrader 4, MetaTrader 5, WebTrader, and there are also several mobile apps optimized for android and iPhone. A new way of Raw ECN market has been introduced by Vantage, which allows users to trade on an institutional level, and transactions can be done through the largest banks around the world just for as little commission as $3. The standard leverage can be started from 1:100 and can be maximized up to 1:500
Cayman Islands Monetary Authority is also known as CIMA, regulated and authorizes Vantage. National Australia Bank is used to keep all the funds of the clients. The employees are usually regular adults, and the company has an insurance policy for the brokers to cover their financial losses, but it still has to offer, and an insurance policy for its clients in case of any financial loss for them like other big brokerage companies have. All the legal documents of Vantage are available on their website, and it has the regulations by CIMA only, which oversees less than 20 brokers. It doesn't have any regulations from the UK or Europe. It is safe to say that it has enough regulations, but still, it is less than other big broker companies have.
Available Financial Instruments
Depending on the location, Vantage offers more than 300 instruments for trading. But this number can be limited for you depending on the type of brokerage you are using, your account type, and your trading platform. There are 40 different CFD currency pairs, 20 CFD commodities, 14 CFD indices, and 100 CFD stocks and shares available for trading.
There are several account types available for different categories of clients. If you are a beginner, then you can create a Standard STP account. There is no commission for an STP account, and the minimum deposit for an STP account is $200. If you want to have extra spreads, then the RAW ECN account will be suitable for you, but you have to pay a commission of $3 per lot per side while trading through this account. There should be at least $500 deposited in your account. PRO ECN account is for those clients who are professional traders, and it is the most suitable option for experienced and professional traders. The commission for this account type is $2 per lot per side, and the minimum deposit is $20,000.
There is also the option of creating a demo account; a trial account for you to practice trading and learn all the features and instruments of Vantage before investing your real money in forex. It only needs a couple of minutes to create your demo account. The account has $50,000 virtual money, which can be utilized virtually through MT4. The demo account usually expires in 30 days, but you can also request a non-expiring demo account. A demo account is a very good option for new traders to learn and practice their trading skills, reducing the risk of losing their real money.
Islamic Account is available for Muslim clients, which follows every rule and regulation of Islamic Law. It also has the certificate of Sharia compliance on the website. Islamic account is suitable for the Muslim community to trade in forex as it doesn't violate any Islamic Law, and Muslim clients can trade in full confidence using this account.
Following are the trading platforms available on Vantage:
Vantage app allows the clients to trade straightaway, and clients can also access Shares CFS, Commodities, indices, and forex pairs. There are nine timeframes available on the app. The dashboard shows you the full data. The app can be used to open the account and to manage the funds. You can also access your demo account through this app. There is a downloadable version available for both android and iPhone users.
Vantage has a custom-made oneZero MT4 bridge. This platform allows the client to have suggestions from the experts while trading. This also allows clients to have automated trading. There are over 3200 trading signals that can be accessed through this platform.
MT5 is an upgraded version of the MT4 platform. Experienced Vantage clients use it. This platform can view twenty-one timeframes and three chart types.
WebTrader is the website version of both MT4 and MT5 platforms. It means you can use the features of both these platforms without downloading any app. You can access 30 indicators, nine timeframes, and 24 technical, analytic tools through WebTrader.
ZuluTrade allows you to copy more than 10,000 professional traders. You can also manage your account and customize it so that you can copy other traders risk-free.
You can connect your Vantage account with MyFXbook, which allows you to copy other traders from more than 90,000 forex systems.
Vantage takes its fees through commissions and spreads. For the RAW ECN account, the spread is 0.0 pips, and the commission is $3 per lot per side, which is a fair amount of fee compared to other forex platforms. For the STP account, the spread is high, starting from 1.4 pips which is expensive, and that is why experts don't recommend using this account type. There are also Swap rates which can be both positive and negative. Additionally, there is the fee on deposit and withdrawal of your funds.
There is no deposit fee on the funds' deposit unless you are transferring money through China Union Pay which will cost you 1.3%-2.5% of the transferred amount.
Vantage doesn't charge you any withdrawal fee if you withdraw money in your credit/debit card or e-wallet. If you are transferring money to an international bank account, it won't charge you anything for the first payment of the month, but for every other payment, there will be a fee of 20 in the currency you are using.
Vantage Minimum deposit
To open all account variants, Vantage requires a minimum deposit as bellow
- Standard STP account minimum is $200
- RAW ECN account minimum is $500
- PRO ECN account minimum is $20000
Vantage Bonus and Promotions
There are several bonuses and promotions available for both beginner and professional traders of Vantage. These promotions and bonuses are changed over time, but currently, Vantage is offering a 50% welcome bonus for each new client. If you are an active trader and have more than $10,000 in your account, you will be getting cash gifts in your MT4 account.
Opening an Account
Following are the steps to follow to open an account on Vantage:
- 1. Go to the top of the page and click on ‘Live Account’.
- 2. Enter your credentials as asked.
- 3. Confirm your given email address and phone number.
- 4. Provide your identification documents such as an ID card.
- 5. Make a Deposit in your Account.
Who is Vantage Recommended For?
Every trader wants to be kept up to date about the growing and developing forex market. Such traders can take advantage of and make their trades at suitable times. Moreover, those traders who trust themselves as forex traders and won't hesitate in investing money are recommended to use Vantage.
You can checkout our review of Plus500 CFD Trading Platform
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Vantage is a trading environment worth considering if you want to step foot or expand your forex trading business. There is still work to do for the company to attract more professional traders. The RAW ECN account type is a suitable option for every new client; it offers many services with a very little fee. The only regulator for Vantage is CIMA, but it is enough for every trader to feel safe and start trading. Vantage also has several trading platforms, which makes forex trading easier.