One of the most prominent Australian FX/CFD brokerages, VantageFX stands out from the sea of online FX/CFD providers in several ways.
It features superb trading platform- and account type selections, it is regulated in one of the strictest jurisdictions in the world and it features rather superb trading conditions. At first glance, all that would certainly make the broker a dream trading destination.
Still, some of the traders of VantageFX are not particularly happy with the services delivered by the brokerage. Review portals are rife with positive as well as negative feedback and it looks like the broker had some shady dealings in the past with a few rather unsavory actors.
While the complaints rarely stray outside the usual range of withdrawal-related issues and allegations of stop-loss manipulation, their mere existence is a little disconcerting for anyone considering making a sizable real money deposit with the broker.
The other issues to which we alluded above, were IB-related ones, and thus hardly relevant for the rank-and-file user.
In the past, in addition to what it currently has on offer, the broker used to feature binary options too, but as that industry went under, it ditched the dubious deals, cleaning up its act for good.
The entity that is the current owner of the Vantage FX brand is a certain Vantage FX Pty Ltd, based in Sydney, Australia. The operator has an office in Melbourne too.
As a regulated broker, VantageFX keeps the monies deposited by its traders in segregated bank accounts at the National Australia Bank. In addition to compliance, the operator undergoes regular 3rd party audits too, to make sure that it remains in full compliance at all times.
Its regulatory profile is hardly the main selling point of the broker though. The trading conditions fill those shoes perfectly and there are a number of other surprises up the sleeves of this operator.
Unlike most other online brokers, VantageFX actually features a selection of pretty attractive promotions. These promotions include a first deposit bonus, (which is a 50% match deal, up to a maximum of $250), as well as an 8.88% cash bonus deal.
In addition to that, the brokerage offers access to a free VPS service as well as to a number of extra technical indicators and EAs that traders can put to use with MT4 and MT5.
VantageFX Account Types
The broker supports some 3 account types (in addition to its Demo and Islamic account-versions).
The Standard STP account is the most barebones offer the broker currently has in store. It is obviously also the cheapest deal. To qualify for such an account, users have to maintain a minimum balance of just $200.
For that money, traders get STP execution, coupled with spreads starting from 1.4 pips and zero commission. The maximum available leverage is set to 1:500 and there is a $2 AUD rebate per lot offered as well.
Those looking for ECN execution will probably choose the Raw ECN account – which is apparently the most popular account option of the broker.
While the Raw ECN account offers spreads starting from 0 pips, the minimum required balance for it is just $500, making the account very accessible too.
The “catch” is though that this account type does charge a commission of $3/lot/side.
The top account type is the Pro ECN one, which is obviously an option aimed at professional traders. The minimum required balance for this one is $20,000. It is safe to assume that such a requirement instantly eliminates all recreational traders from even considering this option.
For that money, the Pro ECN account offers ECN execution and spreads from 0 pips. The commission charged is just $2/lot/side, and the maximum leverage is set to 1:500 in this instance as well.
None of the two ECN accounts offer any kind of rebates. All accounts offer access to the full platform- and tradable asset selection of the broker.
VantageFX Market Coverage
VantageFX clients can trade no fewer than 40 currency pairs. Given the broker’s focus on FX, it is obvious that the best trading conditions are featured on popular currency pairs, such as the EUR/USD.
In addition to the generous FX selection, the broker also features some 13 indices and 20 commodities, broken up into 3 categories: energies, soft commodities and precious metals.
The cryptocurrency market is one of the most interesting covered by VantageFX. Several cryptocurrencies are supported, and they are paired up with USD as well as with EUR.
Bitcoin, Bitcoin Cash, Dash, Ethereum and Ripple are all supported and they can all be traded on MT4 and MT5.
The maximum available leverage on BTC is 1:5, which may not seem like much, but which is pretty outstanding considering the volatility of the underlying asset.
VantageFX Trading Platforms
The broker offers a ridiculously rich selection of trading platforms. MT4 and MT5 are obviously the cornerstones of this offer though, available in scores of versions, covering all types of desktop and mobile devices.
MT4 needs little introduction to anyone even slightly versed in online trading. It is the most popular and most capable trading platform in the world, offering traders a fully customizable trading environment. What that means is that traders are free to install technical indicators and EAs and to even create such trading tools from scratch.
MT5 takes the game even further in this regard: it comes with a number of improvements that make it easier for coders to create EAs, custom scripts and technical indicators.
EAs are supported by MT4 as well as MT5 and with the promotional VPS service offered by the broker, they can truly work their magic.
MyFXBook AutoTrade is an excellent social trading solution, though in this regard, it is really difficult to top Zulu Trade, the world’s top social trading platform – which is also supported by the broker.
The easiest and quickest way to contact VantageFX support is through the built-in Live Chat feature. [email protected] is always an option as well, and there are a slew of local-specific phone numbers made available too.
The VantageFX support crew is knowledgeable and in action 24/5. An FAQ section and a Help Centre is also part of the support equation.
The Bottom Line
VantageFX looks like a very solid FX/CFD provider. Its market coverage is good, its platform selection outstanding and its account types cater for beginners as well as advanced traders.
The broker is pretty solid reputation-wise too. The above detailed problems in this regard are expected from a broker that’s nearly a decade old.