The broker is regulated in Australia, making it one of the safest platforms for regular Australians to use.
Vantage FX is famous, but does it live up to the hype? Read the Vantage FX Australia review below to find out more.
What is Vantage FX Australia?
Founded in 2009, Vantage FX specialised in Forex trading from the get-go. The company operated on five principles: transparency, accountability, integrity, reliability, and trust. Australians can get access to global Forex markets through Vantage.
Vantage FX is intended for both professional and casual traders. The company, unlike most brokers, doesn’t have its own trading platform. Rather, it relies on other platforms such as MT4 and MT5. Vantage FX promises clients fast execution speeds and great customer service.
Account holders can trade these financial instruments: Forex, indices, commodities, share CFDs, and, recently, cryptocurrency. The company’s ECN spreads for RAW accounts start from 0.0.
Traders can check out the Vantage FX signals.
The company offers two different types of accounts for users. Individual brokers can sign up with Vantage to manage client funds as well. A great alternative to Vantage FX is City Index Australia.
Is Vantage FX Trustworthy?
Trustworthiness is the most important feature to look for in any Forex broker. Vantage FX is ASIC regulated. The company has a business address in Australia.
Vantage FX is professionally audited by the KPMG in association with the Australian Financial Services Licence. The company deposits client funds in National Australia Bank. As per regulations, client funds are segregated from company funds.
Vantage FX offers Professional Indemnity Insurance select persons, including employees, under ASIC rules. All in all, Vantage FX is a well-regulated Forex broker in Australia. The company is highly reliable in terms of its services.
Vantage FX Markets and Leverages
Vantage FX offers access to the following markets under certain conditions:
- Forex—Australian clients can get access to global Forex markets on MetaTrader 4 platform with IG. The broker offers uninterrupted access and considerable levels of liquidity. Vantage FC offers as much as 500:1 leverages for the Forex market.
- Commodities—Users can get access 24/7 to the global commodities market via Vantage FX. The platform facilitates leveraged trades. Available commodities include oil and precious metals like gold and silver. Vantage FX allows clients to speculate on very low trade volumes, sometimes as low as just 10 barrels of oil or an ounce of metal. Vantage clients can trade with maximum leverage on even sophisticated commodities markets like palladium.
- Indices—Vantage FX gives access to 8 global stock exchange indices, including the London Stock Exchange, Dow Jones, and Japan’s Nikkei. Traders can gain access all day for 24 hours on working days. For indices, the broker offers a tool called oneZero for speculation as close to precise as it can get.
- Cryptocurrency—Clients can get access to the hottest crypto markets via Vantage FX, including Bitcoins. You can’t own digital coins, but you can speculate on the price change volatility. Vantage FX allows hedging for crypto CFDs. However, unlike with Forex, no leverage is given.
Fees and Accounts
Vantage FX offers two types of accounts for new clients: standard and RAW. The standard account doesn’t charge a commission or any fees. It offers leverage of up to 500:1 for most trades. The spreads start at 1.0 pips. The minimum deposit requirement is $100.
The RAW account is aimed at retail traders. It charges $3 per lot. The leverage is 500:1 just like the standard account. Minimum deposit is $500. The spread is very low and can start at 0.0 pips.
Vantage FX doesn’t charge deposit fees for any accounts. However, electronic deposit charges may still occur because of bank charges. Otherwise, Vantage FX doesn’t charge any account maintenance, subscription, or similar fees.
Both accounts offer a free demo version new users can try. Opening either a standard or RAW account will get you instant access to MetaTrader 4 on your desktop, online, or on a mobile device. You will also have access to trading services like ZuluTrade or Myfxbook AutoTrade.
Vantage FX accounts give traders access to 40 different types of currencies, seven commodities markets, and six indices. Crypto trading is enabled for both account types as well.
Benefits for New Users
Vantage FX has an education portal for new users called the Forex Training Academy. It’s essentially a crash course on how to trade on Forex markets and maximize your profits. However, you shouldn’t rely solely on this training material as Vantage FC is not licensed as a financial consultant.
The company’s main website has an extensive support and FAQ pages to help new users as well. This material gives a good primer on the trading platforms and how to manage your account. All in all, Vantage FX is great for new users who are still unfamiliar with the Forex trading environment.
Vantage FX offers a number of benefits to users, but there are some drawbacks. Mainly, clients can only choose between two account options. It’s largely differentiated between casual and retail customers. Those in the middle may find the two options inadequate.
Additionally, clients can trade only using the MT4 trading platform. MT4 is widely regarded as a reliable and speedy platform. However, clients may prefer different trading platforms for different financial instruments. Unfortunately, Vantage FX doesn’t offer its own trading platform.
Alternatively you check check out all other CFD Brokers in Australia.
The broker offers excellent customer support infrastructure online. But when it comes down to actual customer support, they are slightly lagging. Customers have complained about the lack of immediate support to solve complex issues.
Vantage FX overall is a solid Forex broker option for professional and non-professional clients. Retail traders will certainly benefit from the RAW accounts the broker offers.
Clients can enjoy many benefits, such as wide, international access to the Forex market from Australia. The company is highly regulated so the level of trust is high. The software Vantage FX uses is top-notch. Free demos are available for anyone to try.
The downsides are minimal compared to the benefits. If you are a new or a casual Forex investor, Vantage FX is a great place to open an account.