Finally, let us compare Vantage FX Standard Account average spreads with those other major brokerages offer on the three most actively traded Forex pairs. Vantage FX offers swap-free trading on both the Standard STP and Raw ECN accounts. Both Swap-Free Standard STP and Swap-Free RAW ECN accounts are designed for traders who are unable to receive or pay swaps due to religious beliefs. While this account type does not incur any swaps or interest charges on overnight positions, the account holder is charged an administration fee on trading positions. Vantage’s research is sourced primarily from third-party content providers such as Trading Central, and it lacks substantial in-house content. Considering the quality and depth of research that is made available by the best forex brokers such as IG, Saxo, and CMC Markets, there remains considerable room for Vantage to improve in this category.
Is Vantage Trustworthy?
With that said, the commission-free trading model will serve new traders looking for straightforward pricing. My assessment found that fees at Vantage are competitive, especially in the higher account tiers. The best part is that you only need $50 to access raw spreads in the ECN account, but there are commissions to be aware of. As a result, all money withdrawn from your account must go to a bank account in the same name as your Vantage FX trading account. Some exciting features you will enjoy from this platform include three real-time chart types with nine timeframes, good drawing tools, various technical indicators, and more. Vantage offers its own proprietary trading app, alongside the standard MetaTrader suite of mobile apps.
Yes, VantageFX provides a free demo account with virtual funds, allowing traders to practice and refine their strategies without risking real money. If you’re a complete beginner and want to learn how to trade, you can find better educational options elsewhere. But, if you somewhat know what you’re doing, Vantage offers competitive spreads and commissions. Lastly, we have the Pro ECN account, which is extremely similar to the Raw ECN type.
Mobile trading
- For newcomers, the design may feel a little dated compared to some alternatives, but in my experience, the look and feel of the platform is easy to get used to.
- The account allows its users to take advantage of the lowest costs while capitalizing on the fastest execution speeds.
- What you can do, though, is easily view live chart data alongside corresponding analysis and events all on the same page, which I thought was highly intuitive.
The biggest difference is that the account isn’t offered to Australian traders, and comes with a $10,000 USD minimum account opening amount. The advantage of this account is the higher leverage you can trade with but you will need to prove you meet the eligibility requirements set by the FCA. VantageFX is a non-dealing desk broker, using liquidity from liquidity providers such as tier-1 investment banks and prime brokers to offer straight-through processing (STP) pricing for their clients. Vantage currently offers CFD trading across forex pairs, indices, commodities, metals, energies and US/UK/HK/EU/AU shares. In total, Vantage offers 24 different CFDs across a range of different financial instruments and assets. Yes, Vantage is a legitimate broker that is authorized by multiple regulators, including the ASIC and FCA.
Commissions and fees
You can elect for a wire transfer, which will incur $0 fees from Vantage, but may have fees charged by the bank that you’re sending funds from. A few notable brokers such as Pepperstone, LimeFX, FXTM, AXI and LimeFX use this body to resolve disputes and on average claims take about 5 days to resolve. If you’re located in Australia, the UK, or South Africa, your account will be regulated by your country’s regulatory body. Traders outside of the UK and Australia have more leverage, at the expense of their accounts being regulated by non-A-Grade limefx official site regulators. If you are of Islamic faith and comply with Sharia law then the use of a riba is forbidden.
There are regular educational webinars, which are run by a trading education firm called Trade With Precision which focus on topics such as specific technical indicators and trader psychology. Outside of these hours, we would sometimes run into a chatbot on live chat, or deal with a customer support representative who seemed less knowledgeable than their Australian counterparts.. All of the deposit and withdrawal options come with zero fees from VantageFX themselves, but some options may have fees from a specific bank or financial company. In terms of where your funds are held, Vantage holds client funds in limefx forex brokers reviews top-tier banks, and in trust accounts as funds that are separate from company funds. If you’re located in Australia or the UK, it’s a no-brainer to take advantage of the low commissions on the raw ECN account. The flexibility was great, as you can really practice trading the same size as when you open a live account and trade real funds.
About the Editorial Team
You can elect for an electronic funds transfer from an Australian Bank, or a BPay transfer, which will be fee-free but take a couple of days. Probably a better method would be to use a PayID transfer which should be close to an instant deposit. If you’re from Australia, you’re spoiled for choice, with a number of impressive deposit methods. Clicking through, we were asked for our name and phone number and then asked to select a bunch of options for customizing our account.
