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Overall

ASIC-regulated Vantage FX offers retail forex and CFD traders the MT4 platform suite, ChartIQ, as well as auto trading on ZuluTrade and Myfxbook. Traders depositing more than $5,000 encounter maximum leverage restrictions, with even further reductions for larger deposits.

By Steven Hatzakis / April 4th, 2017 / Updated: January 8th, 2018

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Trust Score
Dislikes
  • Small range of tradable instruments
  • Narrow array of research tools
  • Restrictive leverage caps kick in at $5,000

Review Sections:

Data:

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 MetaTrader4 (MT4) platform suite developed by MetaQuotes Software Corporation. The broker caters to retail traders and offers access to 38 forex pairs, 11 global indices, and 11 metals contracts as an authorized representative of Vantage Global Prime.

In addition, VantageFX has made the ChartIQ platform available as well as the MT4 web, and offers myFxtrade and ZuluTrade for social copy trading (auto trading).

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.

View All FeesVantage FX PepperstoneAxiTraderThinkMarkets
Currency Pairs (Total Forex pairs)38595335
CFDs - Total Offered22304114
All-in Cost EUR/USD - Active0.7000.8601.140N/A
All-in Cost GBP/USD - Active1.2001.1901.550N/A
Average Spread EUR/USD - Standard1.4001.1601.240N/A
Average Spread GBP/USD - Standard1.6001.4901.730N/A
Commissions & Fees 3.5 Stars 4 Stars 4 Stars 3.5 Stars

Vantage FX lists typical spreads of 1.4 pips on the EUR/USD in the Standard account, and on the Raw ECN account typical spreads of 0.1 pips and a commission of $3 is added per side on each trade ($6 per round turn).

Vantage FX typical spread account comparison

Research

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).

That said, Vantage FX does not rank highly in the research category, as its in-house resources are limited, beyond content provided by third parties.

Platforms & Tools

Vantage FX is primarily a MetaTrader 4 (MT4) broker offering the standard, out-of-the-box MT4 platform experience, including MT4 web. The MT4 suite has been developed by MetaQuotes Software Corporation (see our full MetaTrader Guide).

MetaTrader4 Desktop Forex Brokers

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 get the innovative ChartIQ web platform (branded as MarketTrader) as an alternative web platform to use with the MT4 account.

    VantageFX MarketTrader ChartIQ web

    In addition to MT4 desktop and web, and ChartIQ, Vantage FX also offers the ZuluTrade platform for social copy trading, as well as the myFXTrade auto trading platform.

    Mobile Trading

    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 Android Playstore, respectively. MT4 account holders at Vantage FX can also use the ChartIQ mobile app, branded as MarketTrader, although we did not focus on that app for the purpose of this review.

    Metatrader4 mobile charts

    Other Notes

    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 drops from 500:1 to 400:1. For clients with up to $100,000, 200:1 is the max leverage, and for clients with more than that amount, max leverage is reduced to 100:1.

    For clients with 100:1, this would be the equivalent of allowing up to nearly $10 million in notional trade size for a trader with $100,000 in margin, which is comparable to industry standards. That said, the threshold for smaller deposits to access higher leverage is more restrictive than that brokers usually offer, as can be seen in the excerpt below from Vantage FX.

    VantageFX margin thresholds

    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.

    VantageFX rebate program

    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.

    Final Thoughts

    Vantage FX’s sweet spot 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.

    In addition, the broker offers only some of the most popular forex pairs and index CFDs as well as commodity CFDs, and provides agency execution to traders looking for an ASIC-regulated broker in Australia.

    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.

    Methodology

    For our 2017 Forex Broker Review we assessed, rated, and ranked 20 international forex brokers. Each FX broker was graded on 255 variables. Learn more.

    Forex Risk Disclaimer

    There is a very high degree of risk involved in trading securities. With respect to foreign exchange trading, 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 currency pair. 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.

    View all Vantage FX Fees & Features
    Steven Hatzakis

    Reviewed by 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. Over the past 18 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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Trading CFDs and FX involves a high degree of risk. All data was obtained from a published web site as of 4/05/2017 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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