Vantage FX review (2022) Review
Vantage FX is the first broker in Australia that provides services in the interbank foreign exchange market. It has favorable trading conditions and a huge choice of contracts of different specifications. Is it true that the dealer is considered one of the best in the financial sector, this review will help to find out?
Vantage FX dealing center was founded in 2009 and is registered in Australia. It is part of the financial group Enfinium Pty Ltd, which provides its clients with commercial and business services. The broker’s activity is licensed and regulated by the supervisory authority AFS.
Vantage FX broker offers trading in the Forex market through three trading terminals:
- MetaTrader 4 and MetaTrader 5. These are modern platforms with a rich set of functions for forex trading and market forecasting. Users are offered a wide range of technical tools, including indicators and graphical drawings.
- Web-Trader. It is a browser-based platform with the minimum number of functionalities. It perfectly suits beginners traders, because it is suitable only for opening deals
- Maximum leverage 1:500
- Minimum deposit $1
- Spread on EUR/USD, pips 1.4
Trading on the platforms provided by the broker can be done using the following trading instruments:
- More than 40 currency pairs: EUR/USD, AUD/USD, GBP/USD, USD/JPY and others;
- Metals: Gold, Silver;
- Cryptocurrencies: Bitcoin, Bitcoin Cash, Dashcoin, Litecoin, Ethereum, Ripple.
- energy commodities: oil, natural gas, gasoline, low-sulfur gasoil;
- commodities: cocoa, coffee, cotton, sugar, orange juice.
- Stock indices;
- CFD contracts
Types of accounts
The broker offers 3 types of trading accounts:
- Standard STP.
- RAW ECN.
- PRO ECN.
More detailed about them:
Standard STP – with a minimum deposit of $200, with a spread of 1.4 pips. There is no commission.
Raw ECN – is an Islamic account, where there is no spread. The commission is $3 in one direction.
PRO ECN – this account also has no spread, but the commission is $2 per trade.
Demo account You can also use a demo-account for 30 days. It is very easy to create.
On the registration form, you will need to enter your personal information in the following order:
Your email address.
Cell phone number.
Choose a trading platform (MT4 or MT5).
Check if everything is correct, then click on the blue button „Open Demo Account“.
Vantage FX consultants work at the highest level. They quickly respond to requests, providing qualified answers to questions about work on Forex, mastering the terminal or performing financial operations. The following communication options are available for contacting an expert:
- online chat;
- telephone: 1300-945-517;
- e-mail: firstname.lastname@example.org.
- Customer support service is available 24 hours a day, 7 days a week.
Deposit & withdrawal
To make a deposit, traders can use one of the suggested payment services:
- Visa/MasterCard debit or credit card;
- Electronic wallet: WebMoney;
- Bank wire transfer: Swift;
- electronic payment systems: Neteller, Skrill, Payments, POLi, BPay.
Withdrawal of profit is possible by the same methods of financing, however it is necessary to take into account that the term of processing of the application for withdrawal of money is from 3 to 5 working days.
Pros and cons
Traders can find both strengths and weaknesses in each dealing center. Vantage FX pleases its clients with the following advantages:
- availability of MetaTrader 4 terminal;
- no commission;
- huge choice of deposit/withdrawal methods;
In addition, the broker has some negative points:
- no ECN-type account is provided;
- There is no interest on the balance of funds.
Pros / Cons