Vantage FX offers retail forex and CFD traders the Metatrader platform suite, ChartIQ, as well as auto trading on ZuluTrade and Myfxbook. With a limited offering and poor customer service, the broker trails industry leaders by a wide margin.
Offers ChartIQ platform branded as MarketTrader
Small range of just over 50 tradable instruments
Trade with a leading Australian Broker.Visit Site
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.
Please Note:Vantage FX was not included in the2019 annual review. As a result, this brokers ratings may be outdated. Read ourBest Forex Brokers 2019guide for a look at the top rated forex and CFDs brokers.
Founded in 2009 as MXT Global, before rebranding as Vantage FX Pty Ltd (Vantage FX) in 2015, today Vantage FX is a member of Vantage Global Prime Pty Ltd, which holds an Australian Financial Services License (AFSL) with the Australian Securities and Investment Commission (ASIC).
Vantage FX is predominantly a MetaTrader broker offering the widely popular platform suite developed by MetaQuotes Software Corporation, which includes MetaTrader4 (MT4) and MetaTrader 5 (MT5). As an authorized representative of Vantage Global Prime, the broker caters to retail traders under the Vantage FX brand and offers access to 38 forex pairs, and 24 CFDs on global indices, energies, metals, and Bitcoin.
In addition, VantageFX offers the ChartIQ platform as well as myFxtrade and ZuluTrade for social copy trading (auto trading).
Vantage FX is considered average-risk, with an overall Trust Score of 76 out of 99.Vantage FX is not publicly traded and does not operate a bank. Vantage FX is authorised by two tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulator (low trust). Vantage FX is authorised by the following tier-1 regulators:Australian Securities & Investment Commission (ASIC)and theFinancial Conduct Authority (FCA). Learn more aboutTrust Score.
The following table summarizes the different investment products available to Vantage FX clients.
Regardless of the platforms used, the trading cost at Vantage FX depends on the account opened. Accounts include the commission-free Standard STP account and the commission-based Raw ECN account.
Vantage FX lists typical spreads of 1.4 pips on the EUR/USD in the Standard account. For its Raw ECN accounts, typical spreads are 0.1 pips with a commission of $3 added per side ($6 per round turn).
Overall, VantageFXs pricing is just ok, falling mostly in line with the industry average.
For our 2018 Forex Review, 129 customer service phone tests were conducted over three months. The data collected is institutional grade. On average, three questions were asked for each test. To score each test, the tests were divided into three separate groups and scores were given for the time taken to connect with each support representative and the ability of each representative to professionally (and thoroughly) answer each question. A Net Promoter Score was also given for the overall experience.
Vantage FX provides research in the form technical and fundamental analysis on its blog from in-house staff as well as guest writers.
There is also an economic calendar powered by MQL5 from MetaQuotes, and for clients who deposit at least $1,000, Vantage FX offers a suite of plugins for MT4 branded as MT4 SmartTrader Tools, developed by FX Blue LLP.
Although the brokers scope of research resources is light, Vantage FX provides several social trading (auto trading) platforms to help self-directed investors find and analyze trading opportunities (more on that in the platform & tools section below). The broker also displays sentiment data for its top trading instruments based on live position data from its clients.
In 2017, Vantage FX added Trading Central as a provider of trading signals.
Although Vantage FXs scope of research resources is light, it continues to make improvements each year. Overall, Vantage FX provides a research offering that meets industry standards. The broker finished 25th out of 43 brokers in our 2018 Review.
Vantage FX is primarily a MetaTrader broker offering the standard, out-of-the-box MT4 platform experience, including MT4 web, and recently launched MetaTrader 5 (MT5). To learn more about MT4 and MT5, see our full see our fullMetaTrader Guide.
While MT4 comes standard, with little variation in functionality from broker to broker, there can be significant differences in how the platform is set up for trading spreads and commissions, execution, and other tools, features, and administrative areas.
Besides spreads, the range of instruments, and account types, here is a summary of the differences in features between Vantage FXs available MT4 platform setup and the default MetaTrader experience:
News headlines stream from FxWire Pro and Reuters
MT4 web and MarketTrader (by ChartIQ) available
Available MT4 file wrapped in Windows emulator for MAC OS Installation
As mentioned above, traders using MT4 web at Vantage FX also get access to the innovative ChartIQ web platform (branded as MarketTrader) as an alternative web platform to use with the MT4 account.
ChartIQ is a highly responsive web-app built on HTML5 and has a smooth interface. Vantage Fxs version of ChartIQ is known as MarketTrader and includes 100 indicators by default in its charting package.
Lastly, in addition to MetaTrader and ChartIQ, Vantage FX also offers the ZuluTrade platform for social copy trading, as well as the myFXTrade auto trading platform.
All in all, when it comes to Platforms & Tools, Vantage FX distinguishes itself from other MetaTrader-only brokers by offering a good range of additional add-ons and compatible 3rd party platforms.
Since Vantage FX is a MetaTrader broker, iOS and Android versions of the MT4 app come standard and are both available for download from the Apple iTunes store and Google Playstore, respectively. MT4 account holders at Vantage FX can also use the ChartIQ mobile app, branded as MarketTrader.
While many brokers will implement caps on various leverage thresholds available, usually by trade size, Vantage FX does so by account balances, with several restrictions that start on amounts as small as $5,000 and then $10,000, where max leverage is decreased.
Vantage FX launched Bitcoin tradeable as a CFD in 2017, helping it cater to the growing demand for cryptocurrencies.
Vantage FXs value proposition appears to be for retail traders with smaller deposits as the max leverage thresholds that quickly kick in would put off larger investors who need access to lower margin rates for high volume trading. The broker also distinguishes itself from other Metatrader brokers by offering additional platforms, including from ChartIQ and Zulutrade, helping to round out its offering.
In terms of pricing, the brokers commission-based Raw ECN account offering is the clear choice for cost-sensitive traders as it features a lower all-in cost compared to its Standard account offering, yet the firms rebate offering is not available on the Raw ECN account type as its pricing is inherently lower than the Standard account.
Overall, unfortunately, Vantage FX trails many of its peers in the ever-competitive and evolving forex industry. The broker finished 39th out of 43 brokers in our 2018 Review.
For our2018 Forex Broker Reviewwe assessed, rated, and ranked 43 international forex brokers. Each FX broker was graded on 140 variables.Learn more.
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.Learn more.
About the author:Steven HatzakisSteven Hatzakis is the Global Director of Research for . Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.
*Vantage FX did not participate in the 2017 Online Broker Review, as a result the following data may not be up to date.
Trading costs at Vantage FX depend on the type of account opened the commission-free Standard STP account or the commission-based ECN Raw account.
No commission, but spreads are higher than the ECN Raw account,
with 1.4 pips on average for the EUR/USD pair.
$6 per 100k round turn commission added to low underlying spreads (compared to the Standard STP account) of 0.1 pips on the EUR/USD pair, bringing the all-in cost to 0.7 pips, using average spread data of 0.6 pips published by Vantage FX.
Vantage FX offers an active trader program that is structured like hybrid bonus offering, as can be seen in the excerpt below from the broker:
Vantage FX offers a rebate program for active traders who deposit at least $1,000; however, this is structured like a bonus, where the amount that can be rebated is based on a percentage of the deposit and is therefore limited. Traders earn $2 per standard lot for a total rebate equal to the overall bonus amount determined by the deposit size.
This hybrid bonus/rebate structure is more reasonable than typical bonuses, which cannot be redeemed either partially or entirely until a significant amount of volume is traded relative to the balance.
Meanwhile, traders looking for simple volume-based liquidity rebates or discounts usually offered in an active trader program may find the deposit-based bonus amount is a limiting factor as it is tied to the rebate amount they can earn, irrespective of trading volume.
Find out how Vantage FX stacks up against other brokers.
Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
Advertiser Disclosure: ForexBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.Here is a list of our partners.
Disclaimer: It is our organizations primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While ForexBrokers.com has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by ForexBrokers.com, nor shall it bias our reviews, analysis, and opinions. Please see our General Disclaimers for more information.