These include oversight from ASIC in Australia, the FCA in the UK, and offshore from the CIMA in the Cayman Islands, and VFSC in Vanuatu. This positions them well as a broker with top-tier regulation in place but also allows them to offer a degree of flexibility through the additional offshore regulatory bodies. In this review, we limefx company reviews will take a detailed look at the key aspects of Vantage FX to enable you to make the best-informed decision possible when choosing your next top forex broker. This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated. We may receive compensation when you click on links to products we review.
Sometimes it takes a couple of days to…
The commission fees are competitive, and there are no additional fees on top of overnight financing charges. The broker offers a complete package for the beginner or advanced trader. In case of significant problems, the support can access your computer via external software (Teamviewer).
ProTrader Tools
All traders are verified and their track record is assessed before being added to the site and low-performing accounts are not available for copy trading. This allows users to feel secure that they are mirroring knowledgeable and experienced traders. This is another great copy trading platform that offers users access to more than 90,000 forex traders to mirror. The broker’s regulation by ASIC indicates a reputable broker that keeps to regulatory and ethical requirements. As a Tier 1 regulatory authority, ASIC also mandates that all client funds are kept fully segregated from the broker’s corporate accounts in client trust accounts at top-rated banks. This way, the risk of fraudulent behavior by the brokerage is kept at a minimum.
- Not to mention MT5’s inbuilt system of alert, designed to help traders keep track of important market events without having to consult an external economic calendar.
- This means you can have access to the webtrader, desktop, or mobile variations of these trading platforms through the broker.
- With added charting tools and 10 more timeframes, it extends a versatile trading environment to traders of varying styles and preferences.
Introducing ProTrader: A Partnership with TradingView
Vantage is a top-tier broker with some of the lowest trading fees I have seen. It’s just a shame the Pro account has a steep $10,000 starting investment. For those who are looking to learn as they go, Vantage offers a dedicated Academy packed with market analysis articles, trading guides, platform tutorials https://limefx.biz/ and webinars. Serious algo traders will appreciate the virtual private server (VPS) which is available with a $1,000 deposit. For an alternative trading experience, I think the ProTrader is a compelling option. It features a modernized interface with an impressive suite of technical tools.
How Long Do Vantage Withdrawals Take?
On the negative side, the lack of crypto trading for global clients means it isn’t the best choice for dedicated crypto investors. We also don’t recommend Vantage if you want to deposit and withdraw using PayPal. Vantage was launched in 2009 and has established itself as a reputable global forex broker based in Sydney, Australia. The broker also provides an extensive FAQ page, which is where I recommend starting if you have a basic query. The search bar makes finding relevant information intuitive, and there is enough content to deal with standard account and product conditions. We tested the live chat three times and found it quick and easy to use with responses in less than one minute once connected with an agent.
All up, there are 57 forex pairs, which is all of the major FX pairs, as well as most of the major cross-currency pairs. All of the deposit options come with zero fees from VantageFX themselves, but some options may have fees from a specific bank or financial company. The flexibility was great, as you can really practice trading the same size as when you open a live account and trade real funds. All CFD trading products are available for spread betting and since they both have the same underlying instruments, the spread or points will be the same. Spread betting accounts do not have commission costs in addition to the spread.
Vantage Markets is an international broker for Forex (currency pairs) and CFDs (Contracts for Difference). The company has existed since 2009 and knows exactly how to respond to the wishes of its customers. The broker is mainly based in Level 29, 31 Market Street, Sydney NSW 2000, Australia, and accepts traders from almost every country. But they also got business addresses in the Cayman Islands and Vanuatu. These features make Vantage an attractive choice for traders looking for a reliable and feature-rich forex broker. However, it’s always recommended to conduct thorough research and consider personal trading requirements before choosing a broker.
Vantage FX does not charge any internal fees for deposits or withdrawals. However, payments to and from overseas banking institutions may attract intermediary transfer fees from either party independent of Vantage FX. Vantage FX’s financial institutional partners calculate the daily released rates using risk-management analysis. As a result, each forex currency pair has its forex swap charge, and interest is paid on currency sold and received on currency bought. The broker charges a commission of $3.0 per lot per side ($6 round trip) on the Raw ECN account and $2.0 per lot side ($4 round trip) on the Pro ECN account.
Vantage Global Prime Pty Ltd, trading as Vantage, is regulated by the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC). Both regulators require brokers that they license to comply with KYC (Know Your Client) and client protection protocols. That means that when signing up for a new Vantage account, you must provide some personal and background information and proof of identity. Complying with high standards of professionalism and ethical standards, Vantage has taken the protection of clients’ funds to a new level by means of insurance of funds.
In terms of trading fees, those with Standard STP accounts at Vantage FX will not pay a penny in commission. However, RAW ECN account and PRO ECN account holders will pay at least £1 per standard lot, per side. Even though RAW ECN and PRO ECN clients will pay some form of commission per trade, the bid-ask spread is as low as 0.0 pips, although this fluctuates depending on the volatility in the markets. Empowered Automated Forex Trading by Myfxbook Vantage is delighted to collaborate with AutoTrade to offer our Forex traders access to one of the most acclaimed FX copy trade services in the market. AutoTrade stands as a premier account mirroring service, allowing you to seamlessly replicate trades from proficient and successful FOREX trading methodologies.
FOREX.com provides traders 91 currency pairs (e.g., EUR/USD) compared to Vantage’s 57 available pairs. The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Forex traders also appreciate the ability to engage in social copy trading. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker’s commissions and fees, we found that FOREX.com offers better pricing overall for traders.
When it comes to topping up and withdrawing from your account, the options available are very much industry standard. Domestic fast transfers are also available for those who are located in Australia. Additionally, Vantage also supports a number of electronic transfer methods, including Neteller, Skrill and FasaPay.
I appreciate that the broker charges no deposit or withdrawal fees but some payment methods have third-party charges, for instance, international wire transfers as outlined above. No inactivity fees are charged by Vantage, which is an advantage over rivals like Admiral Markets and IG Index. This is good news for casual traders who don’t need to worry about being stung for not trading for a few months.