Vantage FX review
Trade forex, cryptocurrencies, CFD stocks and indices with this award winning financial services firm.
Vantage FX is a popular CFD broker that offers stocks, forex, cryptocurrencies and commodities trading to Australians. Its RAW account option has some of the lowest spreads on the market, starting from 0.0, and at $2 per lot commission, it's also one of the cheapest CFD brokers in Australia.
|Type of broker||Online|
|Available markets||49 global currency pairs, commodities, index CFDs, stock CFDs, metals, commodities, energy|
|Minimum Spreads for Major Currencies||0.0 pips - 1.0 pips|
|Minimum opening balance||200|
|Minimum Trade Size||0.01 lots|
|Leverage||1:1 - 30:1|
|Support||Phone, email and live chat|
- Low cost forex broker
- Open an account in under 5 minutes
- Trade at home or on the go with MT4/MT5 or phone app
- Free advanced trading tools
Not so great for
- CFD trading carries risk
- $200 needed to start trading
Who is Vantage FX?
Vantage FX is an Australian forex broker that provides fast and easy access to global forex markets through top-tier, liquidity providers. Established in 2009, Vantage FX offers quick trade execution and competitive pricing, with spreads starting from 0.0 pips.
What are the key features of Vantage FX?
Here are some of the benefits of trading forex on MetaTrader 4 or MetaTrader 5 with Vantage FX.
Australian regulated forex broker
Vantage FX is an Australian-regulated forex broker that complies with the rules set out by the Australian Securities and Investments Commission (ASIC). If you choose to trade with Vantage FX, you can be assured that they have met their strict regulatory requirements, including the full segregation of client funds with National Australia Bank (NAB).
Vantage FX clients can trade with leverage of up to 1:1 - 30:1. This means that with $1,000 you can speculate with up to $30,000 on forex, commodities and stock market indices markets. Bearing in mind, the more leverage you add, the riskier your trade.
Uninterrupted market access
Vantage FX offer traders 24-hour access to world markets. Thanks to a sophisticated fibre-optic network and the patented oneZero trading bridge, Vantage FX clients have access to international markets anywhere, any time. You can also access MetaTrader 4 via applications for Apple and Android devices.
Choice between two account types
Vantage FX offers two types of trading accounts for retail investors: The Standard account and Raw account. Standard accounts offers tight spreads and a minimum deposit of $200 to start trading, while the Raw account is for active traders with larger accounts. With spreads as low as zero during peak times, traders instead pay a commission on each entry and exit.
We've compared each of the account types in more detail below.
What markets can I trade with Vantage FX?
Through the one MetaTrader 4 trading account, you're able to trade a number of different asset classes.
Vantage FX gives clients access to global forex markets with tight spreads and substantial liquidity. The MetaTrader 4 platform provides uninterrupted access to international forex markets, allowing you to take advantage of forex market trading opportunities as they arise.
Clients can trade in metals and energy, including oil, gold, silver, platinum and palladium. You have 24-hour access to global commodities markets through the MetaTrader 4 platform, where you can speculate with trade sizes as low as 0.01 lot (constituting 10 barrels of oil or one ounce of gold).
Vantage FX facilitates full access to eight world stock exchange indices, including the Nikkei, the Dow Jones and the London Stock Exchange. Coupled with the 24-hour access via the MetaTrader 4 platform, Vantage FX's oneZero trading bridge promotes more concise speculation and provides access to larger pools of liquidity.
Vantage FX lets you speculate on bitcoin (BTC) by trading it as a contract for difference (CFD), without needing to actually buy the cryptocurrency outright. If you're a crypto trader, it's worth considering that while Vantage FX can offer up to 1:1 - 30:1 leverage on other CFD assets, no leverage is available for bitcoin trading. However, hedging is still allowed.
Which trading platforms can I use with Vantage FX?
You get access to the world's most popular trading platform, MetaTrader 4 (MT4) as well as MT5. This also includes access to MT4 via mobile apps, Mac devices, and the cloud based MT4 WebTrader platform.
You can also take advantage of social trading services like Myfxbook AutoTrade and ZuluTrade.
What account types can I choose at Vantage FX?
Depending on how and what you'd like to trade, there are two account options for retail (regular) traders – Standard and Raw.
Both account types allow access to 49 different currencies, six index markets and seven commodities markets. You get access to all the available platforms, and you can trade cryptocurrency CFDs with both accounts.
|Commission||$0||$2 per lot|
|Leverage||From 0.0 to 1:1 - 30:1||From 0.0 to 1:1 - 30:1|
|Minimum deposit||$200 (or equivalent)||$500 (or equivalent)|
|Spreads starting at||1.4 pips||0.0 pips|
|Free 30-day demo||Yes||Yes|
There is also an account specifically for wholesale investors called 'Vantage FX’s Pro.' This boasts the same low trading costs as a retail RAW account, but Pro traders have access to greater execution on most products.
What customer support options do Vantage FX offer?
If you need assistance with your account or if you have questions about your trades, customer support is offered 24 hours a day, Monday to Friday via phone, email and live chat.
The Vantage FX website also features an extensive educational portal that is home to the Vantage FX Forex Training Academy. This provides detailed information on how to trade forex and the potential benefits, as well as regular webinars to help you increase your trading knowledge.
What are the spreads from Vantage FX like?
Spreads shown on their MetaTrader 4 platform are variable. Quotes are sourced from a list of top-tier liquidity providers and are continuously changing based on the market conditions. For example, spreads are typically tighter during peak trading times like the London open.
Spreads on the RAW account go as low as zero during these peak times and according to Myfxbook, are some of the tightest in the Australian forex broker industry.
What account or transfer fees do Vantage FX charge?
You should be aware that while Vantage FX doesn't charge deposit fees for electronic deposits or withdrawals, transfers and conversions to and from overseas banks might incur fees. Vantage FX also charges no account keeping, or inactivity fees. Clients are not charged membership fees, nor are they asked to pay exchange, regulatory or data fees.
As outlined above, you're able to choose between multiple account types featuring different spreads. Depending on your account size and trading volume, both can work out to be cheaper, so it's worth finding which is best for your particular circumstances.
The money in your Vantage FX account is held by NAB. While Vantage FX doesn't charge fees, NAB has its own fee schedule for credit and debit card deposits, withdrawals and SWIFT transactions.
What are the pros and cons of trading forex with Vantage FX?
- Demo account. Before signing up for a live account, you can open a $50,000 demo account to test the Vantage FX system and its platforms.
- High-tech platforms and speed. Vantage FX employs state-of-the-art fibre-optic technology for speedy execution and uninterrupted access to markets. Clients trade on MT4 or MT5, the world's most popular forex trading platforms.
- No account fees. Traders pay no account, exchange, regulatory or data fees.
- 24-hour support. Vantage FX clients benefit from 24-hour support as well as a live chat option for immediate assistance.
- No commission. Clients with a Standard account don't pay commission on transactions.
- No US clients. Vantage FX can't accept clients based in the US, as American law prevents traders from trading with non-US brokers.
- Only two account options. You only have two account options: Standard (straight-through processing) and RAW (electronic communications network).
- No direct stock trading. VantageFX offers CFDs only, you cannot directly buy stocks or exchange real currencies.
How do I open an account with Vantage FX
It's quick and easy to open a live trading account with Vantage FX. Click one of the "go to site" buttons on this page and fill in the required information. You'll be asked to submit identification and then you should be ready to trade within 24 hours.
Opening an account requires a minimum of $100 for the Standard account and $500 for the RAW account. There is a deposit restriction of $1,000 (or equivalent) for opening an account, and any excess will be refunded. Vantage FX doesn't accept third-party payments.
Once approved, your account details will be emailed with you. The entire process can be completed within 24 hours.