At first glance, VantageFX does indeed look like one of the best FX/CFD brokerages Australia has to offer. Its website clean and easy to navigate, its trading platform selection superb and its market-coverage more than decent, this broker looks like the definition of an attractive trading destination. Add to that that fact that it is also regulated – under one of the strictest jurisdictions no less – and you have a surefire winner on your hands.
In addition to all the above, unlike CySEC-regulated brokers, VantageFX has retained the ability/right to offer its traders a set of more or less attractive promotions – depending on one’s perspective, obviously.
If all the above is true – and it indeed is – why is it that not all user feedback aimed at the brokerage is positive? Garnering only positive feedback/reviews is a feat impossible to pull off in this day and age.
The complaints aimed at VantageFX run the usual gamut: some users seem to think there is stop-loss manipulation, others have apparently had problems with their withdrawals…
It cannot be denied that despite its current prestige, the broker does have a somewhat darker past. It certainly did a few things years ago, of which its current leadership is most probably not particularly proud. None of that seems to impact the current rank-and-file traders of the brokerage in any way though.
The corporate background of the operation is a little murkier than it would have to be too: the company behind the brand is Vantage FX Pty Ltd, which – while it is indeed a registered Australian company (ACN 140 903 886) – is not regulated by ASIC.
Instead, it is the Authorized Representative of another company, Vantage Global Prime Pty Ltd, which is in fact registered with and regulated by ASIC.
The ASIC license number of the company is AFSL 42801.
What exactly does ASIC-regulation mean though, from the perspective of the trader? Being one of the world’s strictest regulators, ASIC is focused on consumer protection, and in that regard, its seal of approval does indeed mean a lot.
Being ASIC-regulated, the broker has to observe a number of special procedures and it has to adhere to standards created with consumer protection in mind. For instance, the broker is compelled to keep all the money deposited by its traders in segregated bank accounts. In VantageFX’s case, those bank accounts are kept with the National Australia Bank.
The operator is also regularly audited by independent, 3rd party organizations specialized in this activity, to make sure that it indeed fully complies with ASIC’s requirements.
With that in mind, it is clear that the regulatory status of the broker is solid, albeit not particularly impressive in regards to the number of jurisdictions under which it can operate in a regulated manner. Still, that is hardly enough reason for a profit-hungry trader to open a real money account and to move his/her trading to VantageFX.
Such traders will want outstanding trading conditions, and that’s exactly what VantageFX can give them.
On the Standard STP account of the broker (the one that does not charge any commissions) spreads start from 1.4 pips which – while not overly impressive – is not too shabby either.
On the RAW ECN account, the spreads start from 0 pips, though there is a commission charged. On all account types, the maximum available leverage is 1:500, which is indeed very generous.
In addition to all the above, VanatageFX also offers a first deposit bonus (50% up to a maximum of $250) as well as an 8.88% cash bonus and various other promotions.
Since we’re talking about promotional value, let us take a closer look at those
The promotional value offered by the broker goes far above and beyond the 50% first deposit bonus.
In addition to that and the other direct monetary benefits, the broker delivers plenty of value through the trading signals and free trading tools it offers.
Traders who qualify for the deals, get free technical indicators for MT4 and MT5 ( in addition to what’s already installed with the downloadable versions), as well as free EAs and a free VPS service to go with it.
Add to that a client sentiment indicator, an economic calendar as well as access to Trading Central, and you have a winning deal on your hands.
Those who truly know their trading, know that the value offered by these promotions is much more than the direct monetary benefits offered by the various bonuses.
VantageFX Account Types
The broker features 3 account types, one of them offering STP execution and the other two ECN execution.
The most accessible of these accounts is the Standard STP one, which requires a minimum balance of just $200. Bear in mind though that only STP (and Islamic) account holders qualify for the first deposit bonus and the minimum deposit requirement for it is $500.
The Standard STP Account features spreads from 1.4 pips and zero commissions. It also offers a AUD $2 rebate on every traded lot.
The ECN Raw Account is apparently the most popular account option at the site. As such, it features a minimum balance requirement of $500, and spreads starting from 0 pips. The commission charged on this account is $3/lot/side.
The ECN pro account takes the game to an entirely different level. Those looking to secure the privileges offered by this VIP option, have to have a balance of at least $20,000.
The spreads start from 0 pips on this one too, but the commission is just $2/lot/side.
All account options feature access to the entire range of tradable assets of the brokerage.
VantageFX Market Coverage
The broker’s tradable asset selection is obviously focused on FX pairs. There are no fewer than 40 of these available. Needless to say, the trading conditions are the best on some of the popular FX pairs (like the EUR/USD).
13 indices and 20 commodities are added to the mix, together with a handsome selection of cryptocurrencies, such as BTC, ETH and LTC, among others.
VantageFX Trading Platforms
The brokerage features no fewer than 15 different platform versions. Of these, MT4 and MT5 are arguably the centerpieces. They are present in several different formats, such as the regular, PC-based versions, Mac versions, Android- and iOS versions and web trading versions.
In addition to the wealth of features delivered by MT4 and MT5, VantageFX traders also have access to the social-trading focused MyFXBoook AutoTrader and ZuluTrade, the world’s most popular social trading platform.
Professional traders managing larger portfolios have a MAM/PAMM platform at their disposal, which supports an unlimited number of accounts and which – much like MT4 and MT5 – can be customized to suit one’s needs.
As mentioned above, the broker offers a superb free VPS service (to those who qualify, of course) which works like a wonder with MT4 and MT5’s EAs.
Despite a few early hiccups in its existence, VantageFX seems to have gotten the recipe right. The broker is well regulated and it offers a more than decent market coverage, coupled with a superb selection of trading platforms and account types.
The trading conditions on the (very accessible) ECN Raw account are very attractive as well.