Vantage Review 2022
Since 2009, dealing that is both dependable and inexpensive. Through TradingView, MT4 or MT5, you may participate with over 900,000 other traders in trading on more than 400 different CFD products based on assets such as forex, gold, indices, cryptocurrencies, and shares with spreads as low as 0.0. Vantage is subject to regulation by the ASIC, and client money is kept separate. Create an account in less than five minutes.
Vantage is recognized as one of the most prominent online brokers operating out of Australia. The company provides clients with access to the global foreign exchange market by providing a variety of trading services. Vantage is a key player in the market for online brokers due to the company’s commitment to delivering quick transactions and the fact that its customer service has received multiple awards.
Specifics of the Company
Formerly known as Vantage FX, the company now goes by the name Vantage and acts as the representative of Vantage Global Prime Pty Ltd. 2009 saw the establishment of the business, which first operated under the moniker MXT Global before undergoing a name change in 2015.
The site is hosted in Australia and was developed with an Australian user base in mind from the beginning. However, the company has expanded since then and can now boast a worldwide customer base.
This is reflected in the fact that the company is regulated not just in the United Kingdom by the Financial Conduct Authority (FCA), but also in the Cayman Islands by the Cayman Islands Monetary Authority (CIMA).
Trading Platforms with Vantage Potential
Users have access to MT4 and MT5 in addition to Markettrader, Webtrader (which does not require a download), Apps for mobile trading, MAM/PAMM, Zulu trading, and MyFXBook Autotrade because the website is primarily powered by Metatrader software.
The mobile application is downloadable on all supported systems.
There is a significant focus on robot trading, which is characterized by the execution of trades in accordance with a set of parameters that have been preset.
Many of the popular automated trading tools and add-ons that have been made possible by the Metatrader community are now available on the brand new MT5 platform.
Trading can be done fully online or through the support team that is available 24 hours a day, seven days a week. They can be reached via telephone, electronic mail, or real-time chat.
The website loads quickly and has a user interface that is easy to get the hang of. The many functions and markets that are offered can be accessed in an expedient manner using drop-down tabs.
Assets And Markets
Traders on vantagemarkets.com have access to the following markets: foreign exchange (38 currency pairs are offered); 24 different forms of CFDs (trades that do not include currency); cryptocurrency trading (as part of CFD trading); indices trading; and commodities trading.
Spreads, as well as Commissions
When it comes to the spreads and commission rates offered, Vantage is, for the most part, competitive with the majority of the other major competitors in the online trading business. Although there is no fee charged on the Standard account, spreads are significantly wider than those seen in the Raw account (commission-based).
An indicative spread in the amount of 1.4 (EUR/USD) is being quoted for the Standard account. However, there is a commission fee associated with the Raw account despite the fact that the average spread is only 0.1 pip. Demo accounts as well as Islamic accounts can be created.
Vantage FX – True ECN spreads
Leverage
The leverage ratios for Vantage start at 100:1 and go up to a maximum of 500:1 in some cases. There are restrictions placed on who can use the higher levels of leverage, and only certain customers and accounts are allowed to do so. Customers who are interested in higher degrees of leverage are need to submit an application directly to Vantage.
The ratios are generally comparable to what others in the business are offering, although traders who favor a larger risk approach can find the 100:1 restriction restricting at times.
Mobile Apps
Users are provided with access to the official Metatrader apps, which can be downloaded in a format that is compatible with mobile devices manufactured by Apple as well as those manufactured by Android. Traders can place Forex transactions and view real-time pricing on their mobile devices using the apps in the same manner as they can on a desktop or laptop computer.
Traders are able to make changes to orders that are still in the pending state using the app, which is synchronized with the trader’s other platforms to guarantee uninterrupted activity.
Alternative Payment Methods for Deposits and Withdrawals
The following payment methods are accepted by Traders: Mastercard, Visa, Swift, BPay, Skrill, Poli, and Neteller. When using a credit or debit card to make a deposit, the money will often be available for usage and displayed in the account within one minute of the transaction. Deposits made via bank wire transfer or BPay will typically reach the account the following business day after they have been made.
Withdrawals can be processed manually or using an internet platform. Withdrawals are handled on a daily basis. If the withdrawal request is received before 1200 (Australian Eastern Standard Time), then the withdrawal will most likely take place on the same working day. If a request to withdraw funds is received after this time, or if there is an unusually high volume of requests, the withdrawal will not be executed until the next business day.
The funds for Australian customers should typically be deposited into their bank accounts by the end of the following business day. Customers located in other countries might have to wait a few days for the money to be deposited into their accounts.
Free Trial Account
For those interested in practicing their forex trading skills, a demo account that is fully functional is one of the accessible options.
Bonus Offers and Promotions
Vantage provides free education on a variety of financial markets, including foreign exchange (Forex), webinairs, MetaTrader 4 (MT4) and MetaTrader 5 (MT5) manuals, MT4 videos, and MT4 smart trader videos.
Traders can also profit from the Forex signals by email function of the website, advice to enhance the trading account, trading signals, expert advisors, free Forex VPS, an economic calendar, a welcome bonus of fifty percent, MT4 indicators, and forex sentiment indicators.
Offer for a Vantage Bonus of 50% of Your Deposit
Regulation as well as Authorization
The Australian Securities and Investments Commission (ASIC), which is Australia’s regulatory organization for securities and investments, has issued a license to the company. However, since that time they have let their license expire and are now subject to the jurisdiction of the Cayman Islands.
Types of Accounts
Traders have the option of opening either an individual regular account or a Raw ECN account, in addition to the choice between a dummy account (practice) and a live account. Other types of accounts, such as joint accounts, corporate trading accounts, and Trust trading accounts, are also available (either as individuals or as a partnership).
In addition, there is the option of having an Islamic account (which does not allow carryover) or a professional account, which allows for a greater leverage but provides a lower level of regulatory protection.
Benefits
The customer service on this website has won multiple awards, and they also provide enticing discount packages and deals. It is especially appealing to younger traders or those who prefer to keep their levels of risk and investment on the lower end of the spectrum. Those who want to keep their levels of risk and investment at the lower end of the spectrum.
Drawbacks
Experienced traders may find the highest limit of 1:100 leverage that is available to most customers to be a strain. Vantage does not give much added value for experienced traders or those who prefer to pursue a greater risk approach.
Hours of Trading for Vantage
The website is accessible at any time of day or night, and trading can take place whenever the relevant markets are open.
Particulars of Contact
You can get in touch with the customer support service in a few different ways: over the phone (1300 945 517), by email (help@vantagefx.com), or through live chat.
Protection and Safekeeping
The corporation has a trader compensation system and protects itself with indemnity insurance. The National Australia Bank is the custodian of client monies, which are kept in separate accounts there.
Is Vantage a Suitable Alternative for Day Trading?
This is a good platform for people who are just starting out in trading or who just want to deal with relatively small sums of money. Traders also benefit from the increased variety and value offered by the company’s other partners, Zulutrade and ChartIQ.
The RAW account offers a more alluring rate of commission than the ordinary offering does, which may suggest that it is more lucrative to run than the latter. Aside from these characteristics, there is not much that sets it apart from the vast majority of the other online trading platforms that are already accessible.
Traders with more experience can find it more appealing to choose a platform that gives preference to larger transactions and involves a higher degree of risk.
Countries That Are Allowed In
Vantage welcomes traders from most countries around the world, including Australia, Thailand, the United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, the United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, and Qatar. Traders can open accounts in any of these locations.
Traders located in the United States and Canada are unable to use Vantage.
Various Substitutes for Vantage
If you are seeking for other brokers that are comparable to Vantage, the following table has a list of the top 5 brokers that are in a similar position as Vantage. This list of other brokers that are similar to Vantage is arranged in order of similarity, and it only contains businesses that are willing to work with traders from your location.
1. Pepperstone – Pepperstone is a broker that caters to retail as well as professional traders, and it offers CFD trading. On the MT4, MT5, and cTrader platforms, customers can trade foreign exchange (FX), indices, commodities, and equities.
2. FXTM – FXTM is a prominent name in the foreign exchange and CFD trading industries. They accommodate traders of all levels by providing a diverse selection of marketplaces to choose from and six distinct account kinds.
3. FXPrimus allows users to speculate on both established and emerging financial markets through the use of the MT4, MT5, and cTrader platforms. FXPrimus is regulated in multiple jurisdictions and provides leverage of up to 1:1000 in addition to monthly bonuses.
4. RoboForex — RoboForex is an online broker that deals in many assets and provides advanced trading assistance.
5. Infinox – Infinox is a broker situated in the United Kingdom that provides MT4 trading with low spreads.