Please Note: Vantage FX was not included in the 2020 annual review. As a result, this broker's ratings may be outdated. Read our Best Forex Brokers 2020 guide for a look at the top rated forex and CFDs brokers.
Founded in 2009 as MXT Global, before rebranding as Vantage FX Pty Ltd (Vantage FX) in 2015, today Vantage FX is a member of Vantage Global Prime Pty Ltd, which holds an Australian Financial Services License (AFSL) with the Australian Securities and Investment Commission (ASIC).
Vantage FX is predominantly a MetaTrader broker offering the widely popular platform suite developed by MetaQuotes Software Corporation, which includes MetaTrader4 (MT4) and MetaTrader 5 (MT5). As an authorized representative of Vantage Global Prime, the broker caters to retail traders under the Vantage FX brand and offers access to 38 forex pairs, and 24 CFDs on global indices, energies, metals, and Bitcoin.
In addition, VantageFX offers the ChartIQ platform as well as myFxtrade and ZuluTrade for social copy trading (auto trading).
Is Vantage FX Safe?
Vantage FX is considered average-risk, with an overall Trust Score of 79 out of 99. Vantage FX is not publicly traded and does not operate a bank. Vantage FX is authorised by two tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulator (low trust). Vantage FX is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA). Learn more about Trust Score.
|Publicly Traded (Listed)||No|
Offering of Investments
The following table summarizes the different investment products available to Vantage FX clients.
|Forex: Spot Trading||Yes|
|Currency Pairs (Total Forex pairs)||38|
|CFDs - Total Offered||24|
|Social Trading / Copy-Trading||Yes|
|Cryptocurrency traded as actual||No|
|Cryptocurrency traded as CFD||Yes|
Commissions & Fees
Regardless of the platforms used, the trading cost at Vantage FX depends on the account opened. Accounts include the commission-free Standard STP account and the commission-based Raw ECN account.
Vantage FX lists typical spreads of 1.4 pips on the EUR/USD in the Standard account. For its Raw ECN accounts, typical spreads are 0.1 pips with a commission of $3 added per side ($6 per round turn).
Overall, VantageFX’s pricing is just “ok,” falling mostly in line with the industry average.
|Minimum Initial Deposit||$100|
|Average Spread EUR/USD - Standard||1.4 (as of Jul 18)|
|All-in Cost EUR/USD - Active||0.7 (as of Jul 18)|
|Active Trader or VIP Discounts||Yes|
For our 2018 Forex Review, 129 customer service phone tests were conducted over three months. The data collected is institutional grade. On average, three questions were asked for each test. To score each test, the tests were divided into three separate groups and scores were given for the time taken to connect with each support representative and the ability of each representative to professionally (and thoroughly) answer each question. A Net Promoter Score was also given for the overall experience.
- Average Connection Time: 2-3 minutes
- Average Net Promoter Score: 6.5/ 10
- Average Professionalism Score: 3.6 / 10
- Overall Score: 5.7 / 10
- Ranking: 36th (43 brokers)
Vantage FX provides research in the form technical and fundamental analysis on its blog from in-house staff as well as guest writers.
There is also an economic calendar powered by MQL5 from MetaQuotes, and for clients who deposit at least $1,000, Vantage FX offers a suite of plugins for MT4 branded as MT4 SmartTrader Tools, developed by FX Blue LLP.
Although the broker’s scope of research resources is light, Vantage FX provides several social trading (auto trading) platforms to help self-directed investors find and analyze trading opportunities (more on that in the platform & tools section below). The broker also displays sentiment data for its top trading instruments based on live position data from its clients.
In 2017, Vantage FX added Trading Central as a provider of trading signals.
Although Vantage FX’s scope of research resources is light, it continues to make improvements each year. Overall, Vantage FX provides a research offering that meets industry standards. The broker finished 25th out of 43 brokers in our 2018 Review.
|Daily Market Commentary||No|
|Forex News (Top-Tier Sources)||Yes|
|Trading Central (Recognia)||Yes|
|Social Sentiment - Currency Pairs||Yes|
Platforms & Tools
Vantage FX is primarily a MetaTrader broker offering the standard, out-of-the-box MT4 platform experience, including MT4 web, and recently launched MetaTrader 5 (MT5). To learn more about MT4 and MT5, see our full see our full MetaTrader Guide.
While MT4 comes standard, with little variation in functionality from broker to broker, there can be significant differences in how the platform is set up for trading spreads and commissions, execution, and other tools, features, and administrative areas.
Besides spreads, the range of instruments, and account types, here is a summary of the differences in features between Vantage FX’s available MT4 platform setup and the default MetaTrader experience:
- SmartTrader Tools developed by FX Blue LLP
- News headlines stream from FxWire Pro and Reuters
- MT4 web and MarketTrader (by ChartIQ) available
- Available MT4 file wrapped in Windows emulator for MAC OS Installation
As mentioned above, traders using MT4 web at Vantage FX also get access to the innovative ChartIQ web platform (branded as MarketTrader) as an alternative web platform to use with the MT4 account.
ChartIQ is a highly responsive web-app built on HTML5 and has a smooth interface. Vantage Fx’s version of ChartIQ is known as MarketTrader and includes 100 indicators by default in its charting package.
Lastly, in addition to MetaTrader and ChartIQ, Vantage FX also offers the ZuluTrade platform for social copy trading, as well as the myFXTrade auto trading platform.
All in all, when it comes to Platforms & Tools, Vantage FX distinguishes itself from other MetaTrader-only brokers by offering a good range of additional add-ons and compatible 3rd party platforms.
|Virtual Trading (Demo)||Yes|
|Desktop Platform (Windows)||Yes|
|Social Trading / Copy-Trading||Yes|
|MetaTrader 4 (MT4)||Yes|
|MetaTrader 5 (MT5)||Yes|
|Charting - Indicators / Studies (Total)||51|
|Charting - Drawing Tools (Total)||31|
|Charting - Trade From Chart||Yes|
|Watchlists - Total Fields||7|
|Order Type - Trailing Stop||Yes|
Since Vantage FX is a MetaTrader broker, iOS and Android versions of the MT4 app come standard and are both available for download from the Apple iTunes store and Google Playstore, respectively. MT4 account holders at Vantage FX can also use the ChartIQ mobile app, branded as MarketTrader.
|Apple iOS App||Yes|
|Trading - Forex||Yes|
|Trading - CFDs||Yes|
|Alerts - Basic Fields||Yes|
|Watch List Syncing||No|
|Charting - Indicators / Studies||30|
|Charting - Draw Trend Lines||Yes|
|Charting - Trend Lines Moveable||No|
|Charting - Multiple Time Frames||Yes|
|Charting - Drawings Autosave||No|
While many brokers will implement caps on various leverage thresholds available, usually by trade size, Vantage FX does so by account balances, with several restrictions that start on amounts as small as $5,000 and then $10,000, where max leverage is decreased.
Vantage FX launched Bitcoin tradeable as a CFD in 2017, helping it cater to the growing demand for cryptocurrencies.
Vantage FX’s value proposition appears to be for retail traders with smaller deposits as the max leverage thresholds that quickly kick in would put off larger investors who need access to lower margin rates for high volume trading. The broker also distinguishes itself from other Metatrader brokers by offering additional platforms, including from ChartIQ and Zulutrade, helping to round out its offering.
In terms of pricing, the broker’s commission-based Raw ECN account offering is the clear choice for cost-sensitive traders as it features a lower all-in cost compared to its Standard account offering, yet the firm’s rebate offering is not available on the Raw ECN account type as its pricing is inherently lower than the Standard account.
Overall, unfortunately, Vantage FX trails many of its peers in the ever-competitive and evolving forex industry. The broker finished 39th out of 43 brokers in our 2018 Review.
For our 2018 Forex Broker Review we assessed, rated, and ranked 43 international forex brokers. Each FX broker was graded on 140 variables. Learn more.
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." Learn more.
About the author: Steven Hatzakis Steven Hatzakis is the Global Director of 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. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.
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Commissions & Fees
*Vantage FX did not participate in the 2017 Online Broker Review, as a result the following data may not be up to date.
Trading costs at Vantage FX depend on the type of account opened – the commission-free Standard STP account or the commission-based ECN Raw account.
- Standard STP account: No commission, but spreads are higher than the ECN Raw account, with 1.4 pips on average for the EUR/USD pair.
- ECN Raw account: $6 per 100k round turn commission added to low underlying spreads (compared to the Standard STP account) of 0.1 pips on the EUR/USD pair, bringing the all-in cost to 0.7 pips, using average spread data of 0.6 pips published by Vantage FX.
Vantage FX offers a rebate program for active traders who deposit at least $1,000; however, this is structured like a bonus, where the amount that can be rebated is based on a percentage of the deposit and is therefore limited. Traders earn $2 per standard lot for a total rebate equal to the overall bonus amount determined by the deposit size.
This hybrid bonus/rebate structure is more reasonable than typical bonuses, which cannot be redeemed either partially or entirely until a significant amount of volume is traded relative to the balance.
Meanwhile, traders looking for simple volume-based liquidity rebates or discounts usually offered in an active trader program may find the deposit-based bonus amount is a limiting factor as it is tied to the rebate amount they can earn, irrespective of trading volume.