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PepperstoneVantage Review
Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Blain Reinkensmeyer
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Refer to PDS and TMD on our website. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Vantage Markets ("Vantage FX," or "Vantage") rounds out its MetaTrader platform suite offering with support for multiple social trading platforms, content powered by Trading Central, and a proprietary mobile app. However, Vantage trails industry leaders in key areas such as research and education.
-
Minimum Deposit:
$50 -
Trust Score:
90 -
Tradeable Symbols (Total):
1000
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Vantage pros & cons
Pros
- The Vantage brand maintains regulatory status in two Tier-1 jurisdictions, one Tier-2 jurisdiction, and two Tier-4 jurisdictions.
- Holds indemnity insurance for additional protection in excess of any regulatory coverage.
- Vantage FX has done an excellent job of fully integrating the TradingView platform into the MetaTrader suite.
- Offers Smart Trader add-ons for MetaTrader and multiple social copy-trading platforms (not available in Australia).
- Vantage earned Best in Class honors for Social Copy Trading in our 2024 Annual Awards.
Cons
- The Pro ECN account requires a minimum deposit of $10,000, making it ill-suited for budget investors.
- Access to Pro Trader Tools powered by Trading Central requires a $1,000 deposit.
- Spreads on the Standard account do not impress, unless you deposit at least $10,000 to become eligible for active trader rebates.
Overall summary
| Feature |
Vantage
|
|---|---|
| Overall Rating |
|
| Trust Score | 90 |
| Offering of Investments |
|
| Commissions & Fees |
|
| Platform & Tools |
|
| Research |
|
| Mobile Trading |
|
| Education |
|
ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.
Is Vantage safe?
Vantage is considered Highly Trusted, with an overall Trust Score of 90 out of 99. Vantage is not publicly traded and does not operate a bank. Vantage is authorised by two Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and two Tier-4 regulators (High Risk). Vantage is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA). Learn more about Trust Score or see where the different Vantage entities are regulated.
| Feature |
Vantage
|
|---|---|
| Year Founded | 2009 |
| Publicly Traded (Listed) | No |
| Bank | No |
| Tier-1 Licenses | 2 |
| Tier-2 Licenses | 1 |
| Tier-3 Licenses | 0 |
| Tier-4 Licenses | 2 |
Offering of investments
The range of available markets at Vantage will depend on which entity regulates your account. The following table summarizes the different investment products available to Vantage clients.
Cryptocurrency: Cryptocurrency trading is available at Vantage through CFDs and through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents.
| Feature |
Vantage
|
|---|---|
| Forex Trading (Spot or CFDs) | Yes |
| Tradeable Symbols (Total) | 1000 |
| Forex Pairs (Total) | 57 |
| U.S. Stock Trading (Non CFD) | No |
| Int'l Stock Trading (Non CFD) | No |
| Social Trading / Copy Trading | Yes |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (Derivative) | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Commissions and fees
Trading costs at Vantage depend on which account you open and on which specific Vantage entity holds your account. There are three account options at Vantage: the spread-only Standard STP account, and the commission-based RAW ECN and PRO ECN accounts. Overall, Vantage’s pricing falls mostly in line with the industry average, but can’t compete with pricing leaders Saxo, IG, and CMC Markets.
Standard vs. Raw accounts comparison: Vantage lists typical spreads of 1.30 pips on the EUR/USD (for the month of March 2023) for its spread-only Standard account. For its Raw account, average spreads are 0.15 pips with a commission of $3 added per side ($6 per round turn), totaling 0.75 pips during the same time period.
PRO account: The PRO account from Vantage has competitive pricing, with its per-side commission amounting to just $2 (or $4 per round turn). Requirements for opening a PRO ECN account with Vantage fluctuate between its regulating entities. Its Australian entity requires that you qualify to be categorized as a wholesale client. If you open your account under Vantage’s Cayman Islands entity, you must fund your account with at least $10,000. For those who can meet its various account requirements, the PRO ECN account is Vantage’s best-priced option, and is comparable to similar accounts offered by FP Markets and Tickmill.
Active traders: The active trader program from Vantage offers rebates ranging from $2 to as much as $8 per standard lot, depending on your balance and monthly volume. The smallest tier starts at $10,000 and the highest tier requires at least $300,000 in equity. However, it is only available on the Standard account, which has the highest spreads from among all the account options available.
| Feature |
Vantage
|
|---|---|
| Minimum Deposit | $50 |
| Average Spread EUR/USD - Standard | 1.30 |
| All-in Cost EUR/USD - Active | 0.75 |
| Active Trader or VIP Discounts | No |
| ACH or SEPA Transfers | No |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
Mobile trading apps
Vantage offers its own proprietary trading app, alongside the standard MetaTrader suite of mobile apps. Vantage has built a decent foundation for a new mobile trading application with its Vantage App. However, I am not a fan of the ads, and it is still a long way off from competing with the best mobile apps in the industry.
Apps overview: Vantage offers two mobile apps: its proprietary Vantage App, and the MetaTrader platform suite. The MetaTrader 4 (MT4), MetaTrader 5 (MT5), and Vantage mobile app come standard from their developer for iOS on Apple App Store and for Android on Google Play.
Ease of use: I found the advertisements within the Vantage app to be a distraction from the trading experience. I'd prefer to avoid ads and promotional content when using a mobile trading app. That being said, Vantage has done a good job of integrating research, with newsletter updates, signals, and multiple Trading Central-powered videos per day.
Charting: Charting at Vantage allows for only five time frames, one chart type, and just a handful of indicators and overlays. On the plus side, tapping on the chart launches it into a full-screen landscape view, which is a nice touch. In contrast, charting from Plus500 comes with over 100 indicators and allows for the ability to use multiple indicators at the same time.
| Feature |
Vantage
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Alerts - Basic Fields | Yes |
| Watchlists - Total Fields | 7 |
| Watchlist Syncing | No |
| Charting - Indicators / Studies (Total) | 30 |
| Charting - Drawing Tools (Total) | 15 |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Charting - Multiple Time Frames | Yes |
| Mobile Economic Calendar | Yes |
Other trading platforms
Vantage distinguishes itself from other MetaTrader-only brokers by offering a diverse range of additional add-ons and by supporting the integration of compatible third-party platforms and tools, such as TradingView.
Platforms overview: Vantage is primarily a MetaTrader broker offering the full suite of desktop and web trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
Charting: Besides the standard charts on MT4 and MT5, Vantage also offers the CHARTS platform from TradingView, which is fully integrated and allows you to log in with your MetaTrader account.
Trading tools: For MetaTrader, Vantage offers the SmartTrader Tools from FX Blue LLP’s suite of platform add-ons. Also, forex news headlines stream directly from FxWire Pro and FxStreet, helping to round out Vantage’s impressive MetaTrader offering.
Copy trading: In addition to the Signals market on MetaTrader, Vantage offers three platforms for social copy trading. The auto-trading platform trio includes ZuluTrade, DupliTrade, and Myfxbook’s AutoTrade (although these are not available in Australia).
| Feature |
Vantage
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| Social Trading / Copy Trading | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| DupliTrade | Yes |
| ZuluTrade | Yes |
| Charting - Indicators / Studies (Total) | 30 |
| Charting - Drawing Tools (Total) | 15 |
| Charting - Trade From Chart | Yes |
| Watchlists - Total Fields | 7 |
Market research
Vantage’s research is sourced primarily from third-party content providers such as Trading Central, and it lacks substantial in-house content. Considering the quality and depth of research that is made available by the best forex brokers such as IG, Saxo, and CMC Markets, there remains considerable room for Vantage to improve in this category.
Research overview: Vantage publishes daily market updates to its dedicated YouTube Channel. These updates are powered by Trading Central, and I found them to be just OK. My only gripe is that they are highly-templated, and feature pre-recorded pieces of content that repeat across every video. Meanwhile, nestled away in the trading tools section of the client portal are more engaging videos (also from Trading Central) that add to Vantage’s video offering of market news and analysis.
Market news and analysis: Also powered by Trading Central is the Pro Trader Tools product, which is offered to clients with at least $1,000 on deposit and is integrated directly within the client portal. Other useful features include its Featured Ideas tool, which is useful for traders looking for trading signals and actionable ideas, while the Analyst Views feature delivers automated analysis.
Future enhancements: Vantage’s scope of research resources continues to expand. That said, I’d like to see an increase in the range of its in-house content, particularly webinars and written content.
| Feature |
Vantage
|
|---|---|
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Autochartist | No |
| Trading Central (Recognia) | Yes |
| Social Sentiment - Currency Pairs | Yes |
Education
Vantage does not offer a comprehensive range of educational resources for traders, putting it at a disadvantage against brokers that make education a priority, such as CMC Markets or City Index.
Learning center: Vantage’s Learn Forex Trading section features 37 expandable educational points, though I found them to be unsophisticated. In addition to platform tutorials, Vantage provides a library of over 130 videos developed by Trading Central as part of its Pro Trader series. Content ranges from short introductory clips for beginners to longer videos featuring advanced forex and CFD concepts across various markets – including cryptocurrencies. I found many of these videos produced by Trading Central useful.
Video content: Vantage has multiple YouTube channels, each with hundreds of videos that are helpfully organized in dedicated playlists. Vantage produces and uploads several webinars per week, including its "Masterclass" videos that cover a range of trading topics.
Room for improvement: Expanding the range of comprehensive written articles would complement Vantage's growing collection of video content.
| Feature |
Vantage
|
|---|---|
| Education (Forex or CFDs) | Yes |
| Client Webinars | Yes |
| Client Webinars (Archived) | Yes |
| Videos - Beginner Trading Videos | Yes |
| Videos - Advanced Trading Videos | Yes |
| Investor Dictionary (Glossary) | Yes |
Final thoughts
Vantage distinguishes itself from other MetaTrader brokers by offering competitive pricing on its commission-based Raw ECN account and by supporting the integration of additional platforms such as Zulutrade and DupliTrade. It also offers its own proprietary Vantage app, which – despite the added distraction of in-app ads – shows real promise as a trading platform.
While the broker’s research and educational offerings continue to expand, Vantage has a ways to go if it wants to compete with the best brokers in those categories.
About Vantage
Founded in 2009 as MXT Global and formerly known as Vantage FX, today Vantage is a member of Vantage Global Prime Pty Ltd. The Vantage brand holds an Australian Financial Services License (AFSL) with the Australian Securities and Investment Commission (ASIC).
The group also has an entity regulated in the U.K. by the Financial Conduct Authority (FCA) under Vantage Global Prime LLP, for institutional clients. Vantage also has an entity that holds regulatory status with the Cayman Islands Monetary Authority (CIMA), and by the Vanuatu Financial Services Commission (VFSC) in Vanuatu.
ForexBrokers.com 2024 Annual Awards
For the ForexBrokers.com 2024 Annual Awards, brokers were evaluated against ForexBrokers.com’s 8 Primary Categories: Commissions & Fees, Offering of Investments, Platforms & Tools, Mobile Trading Apps, Research, Education, Trust Score, and Overall.
Best in Class honors were awarded to the Top 7 forex brokers in each of the following areas: Beginners, Social Copy Trading, Ease of Use, MetaTrader, Algo Trading, Crypto Trading, and Professional Trading.
For more information, see how we test.
Category awards
|
Vantage
|
Social Copy Trading |
| Rank #1 | |
| Streak #1 | |
| Best in Class | |
| Best in Class Streak | 4 |
2024 Review Methodology
At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.
All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.
Read our full explanation and accounting of our research and testing process to learn more about how we test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.
Article Resources
Vantage Regulation, Vantage YouTube channel
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Show allAbout the Editorial Team
Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
John Bringans is the Managing Editor at ForexBrokers.com. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.