Vantage FX Review 2023: Pros, Cons & Ratings

We reviewed MetaTrader 4.MetaTrader 4 is available in an exceptionally large number of languages. We compared Vantage’s fees with those of Fusion Markets and IC Markets, two similar brokers selected by our analysts. This selection is based on objective factors such as products offered, client profile, fee structure, etc. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time.

Another problem pointed out by various reviewers was about a well-known scammer working as a Vantage IB for quite some time. The Cayman Islands Monetary Authority (CIMA), which is in charge there, oversees the broker. This requires a valid ID card or passport, as well as a three-month-old proof of address. Bank statements, utility bills, and other documents can be used as evidence of address. Also required is a snapshot of the front of the credit card used to make the deposit. It would be preferable if the broker had a little more freedom in terms of contract sizes.

Vantage FX offers ECN spreads for the Raw ECN and Pro ECN account types, but the Standard STP account has marked-up spreads. The commission fees are competitive, and there are no additional fees on top of overnight financing charges. The absence https://limefx.name/ of non-trading costs is largely beneficial for traders. The broker provides traders with MT4 and MT5 demo account, which traders can use to practice their trading strategies on over 180 financial instruments without risking real money.

Security and Money Guarantees

MT4 is a well-known trading platform that various other brokers use. Line, bar, and candle charts with period durations ranging from 1 minute to a month are available in the basic settings. Horizontal lines, trend lines, trend channels, and Fibonacci retracements are some of the drawing tools available.

• Throughout our several-week test period, we conducted spot checks to ensure that the quoted spreads were accurate.
• With all these features in mind, it’s no surprise that Vantage is an increasingly popular choice among Forex traders.
• Vantage offers multiple other promotional offers including a $100 friend referral bonus.
• The broker
  also offers a wide range of platforms to choose from, so you can find the one
  that’s best suited to your needs and experience level.

Vantage offers you various platforms and tools
to choose from, depending on your needs. To keep your trades open overnight, you’ll
also be charged a fee known as a swap rate. This fee varies by currency pair,
with major currencies like the Euro and US Dollar having a lower fee than more
exotic currencies. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. A bank transfer can take several business days, while payment with a credit/debit card is instant.

Overall, Vantage has demonstrated a strong commitment to maintaining the highest standards of regulation and security, providing peace of mind for traders. On the security front, Vantage takes the protection of client funds and data very seriously. They employ state-of-the-art digital security measures, such as SSL encryption, to safeguard client data. Moreover, Vantage complies with the principle of segregation of client funds, meaning client funds are kept separate from the broker’s operational funds, thereby ensuring additional financial security. In the unlikely event of company insolvency, clients’ funds would be protected. It’s important to note that the specific features and services offered by Vantage may vary, so it’s recommended to visit their official website or contact their customer support for detailed information.

Vantage Company

This account offers commission-free trading with spreads starting from 1.4 pips. The minimum deposit is just $200, making it accessible to a wide range of traders. Vantage Market offers a wide range of services and supports many trading platforms. However, it is most suited for large-volume traders due to its partnership with top-tier liquidity providers, competitive rates, and swift order execution. This is a more advanced trading platform introduced by MetaQuotes in 2010 to take your forex trading to the next level.

Company Review

Moreover, the Dodd-Frank Act imposes strict regulations on financial
institutions operating in the USA. Vantage withdrawals are processed within 1-2
business days like other brokers. However, the time taken for the funds’
withdrawal will depend on your bank’s processing time. Moreover, you can
withdraw $10,000 per transaction like many other brokers. You have several
options when it comes to withdrawing your funds, including bank transfer,
credit/debit card, and e-wallet.

As a member of The Financial Commission, Vantage Markets is a party to the Compensation Fund, which serves as insurance for its clients. Clients can get up to €20,000 per client from The Compensation Fund if the broker does not comply with any judgment of the Financial Commission that favors the client. Telephone customer support is available 24 hours a day, seven days a week. We found the staff taking our calls to be informed and professional and able to resolve our queries quickly. Complying with high standards of professionalism and ethical standards, Vantage has taken the protection of clients’ funds to a new level by means of insurance of funds. $ 20 million of coverage is provided by SJ Catlin and Lloyds of London.

If you want to explore the possibilities offered by Vantage, we recommend opening a demo account first. There are 3 main types of trading accounts at Vantage (STP, Raw ECN, Pro ECN), which differ in their pricing structure and the spreads provided. An experienced media professional, John has close to a decade of editorial experience with a background limefx broker reviews that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. There is a very high degree of risk involved in trading securities.

Trade Execution

They offer a rich collection of guides and
webinars that can help both novice and experienced traders alike improve their
skills. Their educational resources cover various topics, including how to
trade forex, technical analysis, fundamental analysis, risk management, trading
psychology, and many more. And, if you’re a budding or an experienced
forex trader, you’ll appreciate the Smart Trader add-on for MetaTrader. It is
the best tool for MetaTrader that makes it easier than ever to trade forex and
CFDs, with features like charting tools, real-time news feeds, an economic
calendar, and more. You can also download apps for iOS or Android so you can
trade the markets on the go.

The prompts offered to our queries were helpful and steered our testers towards resolving their problems. As mentioned above, the size of spreads and accrued commission depends on the type of trading account that a trader uses. But for each traded lot, traders are required to pay a commission of $ 3.00. Unlike most other regulated brokers, Vantage offers a cash bonus, as well as access to real ECN execution.

Vantage FX Trading Platforms

The platform also comes with a customization feature, allowing traders to tailor the platform according to their trading needs and strategies. VPS hosting ensures your platform keeps running 24 hours a day so you set up EAs to take advantage of every opportunity that arises in the market. Yes, Vantage offers affiliate programs that
provide a better commission than many other brokers.

If it is, you have to move to an authorized location to access any Vantage FX platform or services. Moreso, the broker does not offer services to residents of certain jurisdictions on the Financial Action Task Force (FATF), European Union (EU), and the United Nations (UN) sanctions lists. More in-depth queries can be sent via email, with the broker supplying a selection of email addresses so that questions can be directed to the most appropriate area best equipped to handle them. That means no time is spent redirecting your approach if you are looking for information on tech issues, partnerships, or complaints. Our Vantage review involved testing the MetaTrader MT4 WebTrader platform. We booked test trades in AUDCHF and AUDJPY and set the screen display to different background settings.

A two-step authentication would be more secure and adding this feature should be high on any company’s list of security changes. Stock index CFD fees are generally low, but stock CFD fees are quite high. Read our full explanation and accounting of our research and testing process to learn more about how we test.

With this option, you can manage multiple accounts, which is very useful for experts trading for multiple clients. In addition to the detailed account types listed above, the broker also offers Islamic account versions, as well as a demo account for those who want to test the platform (s). This type of account offers access to the entire spectrum of markets supported by the broker, and its minimum balance is $ 200. The bottom line reputation-wise is that – everything accounted for, and despite the above detailed issues – the user-feedback Vantage has managed to rack up over the years is overwhelmingly positive.