- Offers access to ChartIQ, an extensive analysis tool
- Social trading via ZuluTrade and MyFXBook AutoTrade
- Regulated in the UK by the Financial Conduct Authority
- Below average customer service
- Limited selection of tradable assets
- Leverage is capped
Our team of experts has reviewed Vantage FX forex broker. Founded in 2009, this platform is mainly a MetaTrader broker, offering traders access to industry-leading platforms MetaTrader 4 and Metatrader 5. In addition, traders from the UK can social trade through the dedicated platforms ZuluTrade and MyFXBook Autotrade. This forex broker provides access to over 180 financial instruments, such as FX pairs, Indices, Commodities and Share CFDs.
Vantage FX is considered safe, as it is regulated by top regulatory authorities: Cayman Islands Monetary Authority (CIMA), Australian Securities and Investments Commission (AISC) and Financial Conduct Authority (FCA).
Disclaimer: Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.
|Country of regulation||Cayman Islands|
|⚠️ Inactivity fee||No|
|🧾 Withdrawal fee||No|
|💰 Minimum deposit||$200|
|🕖 Account opening time||1 day|
|💳 Deposit Methods||International EFT, Visa, Mastercard, Neteller, Skrill, Broker to broker transfer|
|💱 Base currencies||GBP, USD, CAD, AUD, SGD, EUR|
|🎮 Demo account||Yes|
|🛍️ Products available||Forex, Stocks, CFD, Crypto|
How to open an account
The registration process is simple and fully digital. It can take up to one day. Clients that want to open an account have to follow the next steps:
- Provide personal information, such as name, country, phone, and e-mail;
- Provide additional details, including nationality, proof of identity and proof of residency;
- Choose the desired account type;
- Submit their application.
After the registration process is complete, clients can fund their account and start trading.
There are 4 main account types available for UK traders:
- Demo account: users can get familiar with the platform and check the functionalities while trading with virtual money.
- Standard STP account: offers quick access to the market, making it ideal for beginners, as there are no commissions
- Raw ECN account: the best type of account for semi-pro traders, offering tight spreads and commission-based trading
- Pro ECN: designed for professional or algorithmic traders, providing even tighter spreads and deep liquidity
In addition to this, there are 2 more account types, fully compliant with Shariah law:
- Islamic Standard STP account
- Islamic RAW ECN account
Both islamic accounts available have no swaps or interest charges for overnight positions.
Deposit and Withdrawal
In our Vantage FX review, we’ve found that this forex broker charges no deposit fees. The provider offers a variety of payment methods, and payments are processed quickly. Deposits made via credit card or e-wallet are processed instantly, while payments made by Wire Transfer can take up to 1 business day to go through.
Accepted payment methods
British traders who wish to make a deposit with Vantage FX can do so using the following methods: International EFT, Visa, Mastercard, Neteller, Skrill, or by transferring their funds from another broker.
Vantage FX processes withdrawals instantly if traders decide to use e-wallets. For payments made via Bank Transfer, it can take up to 5 business days for the funds to reach a clients’ account.
The Vantage FX product portfolio includes over 180 CFDs, like cryptocurrency, commodities, stocks, and indices. While the number of available assets is relatively small compared to its competitors, the online trading platform features some of the most valuable blue-chip stocks and commodities like Silver, Gold, or Crude Oil.
Fortunately, this forex broker doesn’t charge any trading commissions. Instead, the platform includes all the trading costs within the spread that is taken from the client’s account for each transaction. The spreads don’t change with volume, so clients will pay the same amount whether they trade one lot or 100 lots.
Web Trading Platform
Even if the operator does not have an in-house developed platform, Vantage FX offers traders from the UK access to multiple platforms. The most important ones are the industry standard MetaQuotes products, MetaTrader 4 and MetaTrader 5.
Another platform that users have access to is MarketTrade. This software is a re-branded version of ChartIQ, an interactive and responsive web trading platform, which offers a plethora of advanced analysis tools, and a modern interface.
Traders that are interested in social trading can use the copy trading solution provided by ZuluTrade – a platform that enables clients to follow signal providers and copy their trades.
Vantage FX also provides access to MyFXBook, a software solution that enables users to automate their trades, based on technical analysis indicators.
Mobile Trading Platform
This operator also has an app for mobile devices, the Vantage FX app. The app has a modern interface, available on both iOS and Android devices, offering access to the full portfolio offered by the forex broker, including multiple market analysis tools and charting tools for technical analysis. However, users that connect via this app should know that only the stop loss and take profit features are available.
Additionally, Vantage FX offers its clients access to the mobile version of MetaTrader4 and MetaTrader5.
The trading fees charged by this provider are, for the most part, on-par with the industry average, depending on account type. British traders that choose to open a standard account benefit from commission-free trading, however, average spreads are applied on trades.
More advanced traders can choose between a raw ECN account, which provides commission-based trading with very tight spreads and more liquidity, or a pro-ECN account, which offers lower spreads (zero for some currency pairs) and deep liquidity.
Licensing and Security
Vantage FX is owned and operated in the UK by Vantage Global Prime LLP and it is regulated by top-tier authorities, such as:
- Financial Conduct Authority (FCA);
- Cayman Islands Monetary Authority (CIMA);
- Social Islamic Bank Limited (SIBL);
- Australian Securities and Investments Commission (ASIC).
A potential security issue for traders using this forex broker The platform sends the password for the demo account in plain text via email, which could potentially represent a security issue for some traders using this platform. We recommend changing this password as soon as possible.
Educational and Research Tools
Vantage FX forex broker does not provide a very extensive selection of research tools, which could be a disadvantage for clients that want to conduct technical analysis.
One of the most useful tools offered is the economic calendar, where traders can stay informed about upcoming events.
The platform also provides a blog, with technical posts written by industry experts.
The educational resources are relatively scarce as well. A partnership with TradingCentral provides tips and informative assets to traders via e-mail.
This broker also provides manuals for the trading platforms where it offers access to trading sentiment data, trading signals, as well as tips from advisors on how to boost your account.
Overall, the platform’s offering of research and educational tools is slightly below the industry average.
Vantage FX customer service agents are available 24/5 for users of the platform. UK traders who are looking to get in touch with a customer support representative can do so via live chat, by calling +442080363883 or by sending an email to [email protected].
We’ve tested this online stock broker’s client service and have found that live chat agents respond quickly, with average response times falling just below 2 minutes. Representatives were helpful and knowledgeable in answering our questions. Issues that require opening a ticket via email, however, might take longer to resolve – up to a couple of days, in some cases.
The bottom line
Vantage FX is a great forex broker for intermediate and advanced traders because it allows integration with third-party trading software, tight spreads, and six account types. However, it lacks an in-house trading platform and thorough educational materials, which might come as a downside to forex trading beginners. All in all, Vantage FX is a well-rounded broker that has all the necessary features for more experienced British traders.