Vantage FX Review
While offering forex and CFD traders the MetaTrader platform suite, multiple social trading platforms, and a proprietary mobile app, Vantage FX trails industry leaders in key areas, including mobile apps, research, and education.
Top Takeaways for 2021
Here are our top findings on Vantage FX:
- The Vantage FX brand maintains regulatory status in two tier-1 jurisdictions and one tier-3 jurisdiction, making it a safe broker (average-risk) for trading forex and CFDs.
- Besides the full MetaTrader suite, which includes the Smart Trader add-ons, the social-copy trading platforms on offer are not available from the Australian entity. At the same time, the Pro Trader Tools powered by Trading Central requires a $1k deposit. That said, Vantage FX still ranks among the Best MetaTrader Brokers in 2021, and Best Copy Trading brokers.
- Spreads on the Standard account do not impress unless you deposit at least $10,000 to be eligible for active trader rebates. Likewise, the Pro ECN account requires $20,000, leaving the Raw ECN account the most ideal for budget investors.
|Offering of Investments|
|Commissions & Fees|
|Platforms & Tools|
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 range of markets varies slightly at Vantage FX’s Australian entity, which offers 255 instruments, compared to its Cayman Islands brand, which offers 299. The following table summarizes the different investment products available to Vantage FX clients.
Cryptocurrency: Cryptocurrency trading is available through CFDs and through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available from any broker's UK entity, nor to UK residents.
|Forex: Spot Trading||Yes|
|Currency Pairs (Total Forex pairs)||44|
|CFDs - Total Offered||260|
|Social Trading / Copy-Trading||Yes|
|Cryptocurrency traded as actual||No|
|Cryptocurrency traded as CFD||Yes|
Commissions and Fees
Regardless of the platforms used, the trading cost at Vantage FX depends on the account opened. The three accounts available consist of the commission-free Standard STP account, the commission-based RAW ECN, and the PRO ECN account. Overall, Vantage FX’s pricing is “ok,” falling mostly in line with the industry average.
Standard vs Raw ECN accounts comparison: Vantage FX lists typical spreads of 1.35 pips on the EUR/USD in the Standard account, for July 2020. For its Raw ECN accounts, average spreads are 0.20 pips with a commission of $3 added per side ($6 per round turn), totaling 0.8 pips.
PRO ECN account: The PRO ECN account from Vantage FX is the most competitive as the commission is $2 per side ($4 per round turn) compared to the RAW ECN account. For those who can afford to deposit $20,000 for the PRO ECN account, this is Vantage FX’s best-priced option, which is comparable to similar accounts offered by Saxo Bank and Tickmill.
Active traders: The active trader program from Vantage FX offers rebates of $8 per standard lot. However, it is only available on the Standard account, which has the highest spreads from among all the account options available. Bottom line, the active trader rebates from Vantage FX do not compete with pricing leaders Saxo Bank, IG, and CMC Markets.
|Minimum Initial Deposit||$200|
|Average Spread EUR/USD - Standard||1.35 (July 2020)|
|All-in Cost EUR/USD - Active||0.80 (July 2020)|
|Active Trader or VIP Discounts||Yes|
Platforms and Tools
Vantage FX distinguishes itself from other MetaTrader-only brokers by offering a diverse range of additional add-ons and compatible 3rd party platforms and tools. As a result, Vantage FX finished Best in Class (6th Place) in our best MetaTrader brokers category in 2021.
MetaTrader: Vantage FX is primarily a MetaTrader broker offering the full suite of desktop and web applications, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
MT4 add-ons: For MT4, Vantage FX offers the SmartTrader Tools from FX Blue LLP, which is a suite of platform add-ons. Also, forex news headlines stream from FxWire Pro and Reuters, helping to round out Vantage FX’s MetaTrader offering.
Copy-trading: In addition to MetaTrader, Vantage FX also offers three platforms for social copy-trading. The auto trading platform trio includes ZuluTrade, DupliTrade, and the Myfxbook AutoTrade.
|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|
Vantage FX provides research primarily from third-party content providers such as Trading Central. The broker also has some basic features, such as an economic calendar and client sentiment data. Still, Vantage FX lacks a variety of in-house content besides its daily videos, compared to the best forex brokers for research such as IG, Saxo Bank, and CMC Markets.
Daily YouTube Videos: The daily market updates published by Vantage FX to its YouTube channel are of decent quality. My only issue is they are highly-templated with pre-recorded parts that repeat across every video. Meanwhile, nestled away in the trading tools section of the client portal are videos from Trading Central that help counter-balance Vantage FX’s video offering with more engaging content.
Client Portal: The Pro Trader Tools product, powered by Trading Central, and offered to clients with at least $1,000 on deposit, is not integrated into the trading platform experience.
Calendar: The Featured Ideas are useful for traders looking for trading signals and actionable ideas, while the Analyst Views are more of a templated analysis driven by automation.
Future enhancements: Vantage FX’s scope of research resources continues to expand. That said, Vantage FX should fully integrate trading into its client portal or research into its trading platforms. Also, increasing the range of in-house content would help enhance Vantage FX’s offering.
|Daily Market Commentary||No|
|Forex News (Top-Tier Sources)||Yes|
|Trading Central (Recognia)||Yes|
|Social Sentiment - Currency Pairs||Yes|
Overall, Vantage FX does not offer a comprehensive range of educational articles for traders. This lack of variety of written educational materials puts Vantage FX at a disadvantage compared to brokers like CMC Markets or City Index in this category.
Pro Trader videos: Besides platform tutorials for MetaTrader and related available platforms, Vantage FX provides a library of over 130 videos as part of its Pro Trader videos. Content ranges from short introductory clips for beginners to longer advanced concepts across forex and CFD trading across various markets, including cryptocurrencies. I found many of the videos produced by Trading Central useful.
|Has Education - Forex||Yes|
|Has Education - CFDs||No|
|Client Webinars (Archived)||No|
|Videos - Beginner Trading Videos||No|
|Videos - Advanced Trading Videos||No|
|Investor Dictionary (Glossary)||Yes|
|Tutorials/Guide (PDF or Interactive)||Yes|
Vantage FX offers two mobile apps: its proprietary Vantage FX App, and the MetaTrader platform suite.
MetaTrader: As a primarily MetaTrader-only broker, iOS and Android versions of the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) app come standard from the developer.
Vantage FX App: Available for Android and iOS devices, the Vantage FX App has a decent foundation for a new mobile trading application. However, it is still a long way away from the proprietary mobile apps offered by competitors such as IG, FOREX.com, and Saxo Bank. Charting offers only five time frames, one chart type, and a handful of indicators and overlays. On the plus side, tapping on the chart launches it into full-screen mode in landscape view, which is a nice touch.
Integrated features: I found the multiple advertisements within the Vantage FX app to be a distraction from the trading experience. I'd rather avoid ads when using a mobile application for trading. Otherwise, Vantage FX has done a good job integrating Signals, and FX TV powered by Trading Central.
Limitations: For a new mobile application, the Vantage FX app still has measurable room for improvement, and I look forward to its evolution. For example, only one study overlay can be chosen at a time, from among four available within the charts, and likewise, the same for five indicators. In contrast, charting from Plus500 comes with over 100 indicators and permits multiple at a time.
|Apple iOS App||Yes|
|Trading - Forex||Yes|
|Trading - CFDs||Yes|
|Alerts - Basic Fields||Yes|
|Watch List Syncing||No|
|Charting - Indicators / Studies||30|
|Charting - Draw Trendlines||Yes|
|Charting - Trendlines Moveable||No|
|Charting - Multiple Time Frames||Yes|
|Charting - Drawings Autosave||No|
Vantage FX distinguishes itself from other MetaTrader brokers by offering additional platforms, including from Zulutrade, and DupliTrade, along with its proprietary mobile app helping to round out its offering.
While the broker’s research and educational offering continues to expand, Vantage FX has a ways to go to compete with the best brokers in this category. For example, offering a broader range of in-house written content would help balance its offering, which otherwise consists primarily of third-party materials, including video.
Vantage FX’s commission-based Raw ECN account offering is the clear choice for cost-sensitive traders. Meanwhile, the Raw ECN account features a lower all-in cost compared to its Standard account offering.
About Vantage FX
Founded in 2009 as MXT Global, and rebranded as Vantage FX Pty Ltd (Vantage FX) in 2015, today Vantage FX is a member of Vantage Global Prime Pty Ltd. The 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 UK by the Financial Conduct Authority (FCA) under Vantage Global Prime LLP, for institutional clients. The Vantage FX brand also has an entity that holds regulatory status with the Cayman Islands Monetary Authority (CIMA). As an authorized representative of Vantage Global Prime, the broker caters to retail traders under the Vantage FX brand in Australia, and the rest of the world through its Cayman Islands entity.
2021 Review Methodology
For our 2021 Forex Broker Review we assessed, rated, and ranked 27 international forex brokers over a three month time period. Each broker was graded on 108 different variables and, in total, over 50,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. 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." 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.