Is Vantage FX Legit? A Comprehensive Review

Vantage FX is an Australian broker that might just meet your needs. If you’re wondering who is Vantage FX regulated by, it is the Cayman Islands Monetary Authority (CIMA) along with the Australian Securities and Investments Commission (ASIC). This means that you can trust it since international regulations are really strict.

If you are in the market and looking for a good broker to trade with, then this Vantage FX review will, hopefully, tell you everything you need to know to make up your mind.

Pros and Cons

We at Baxity believe in efficiency. Therefore, we want to tell you all about Vantage FX right off the bat. The table below lists out the main advantages and disadvantages of using Vantage FX:

ProsCons

+ Vantage FX fees are low

+ There is a good amount of customizability available for charts and workspaces

+ Deposits and withdrawals involve no hassle at all

+ No fees for withdrawal or inactivity

+ Depositing is fully digital and incredibly fast

+ Provides clear fee reports

– Limited number of products to choose from

– International bank withdrawals, barring the first one every month, have a high fee

– No two-step login available for added security

– High stock CFD Vantage FX fees

As you can see, the items on the pros column outnumber the cons. It is a good sign, always, but now you know exactly what you will be getting yourself into when you sign up with Vantage FX.

Key Features

A broker lives and dies based on the features it has to offer. When it comes to Vantage FX, the features are considerable. Take a look:

Country of RegulationAustralia, Cayman Islands
Base currencies supportedUSD, EUR, AUD, SGD, CAD, GBP, NZD, HKD, JPY
Demo account providedYes
Islamic AccountYes
InstrumentsForex, CFD, Commodities, Indices: 300+ tradable instruments
Negative Balance ProtectionNo
Customer Support24 hours
Trading PlatformsMetaTrader 4, MetaTrader 5

Account Types

When you sign up with Vantage FX, you get the choice to make from three kinds of accounts. What does each of these have to offer? We have listed out the main features of each in the below table:

Standard STPRaw ECNPro ECN
Execution TypeSTPECNECN
Minimum Deposit200 USD500 USD20,000 USD
Minimum Trade Size0.01 lot0.01 lot0.01 lot
Leverage1:5001:5001:500
Spreads from1.4 pips0.0 pips0.0 pips
Commission0.0 USDFrom 3.00 USD
per lot per side
From 2.00 USD
per lot per side
Conversion of promotional credit into cashYesNoNo

Deposit and Withdrawal Options

Vantage FX deposit fees are non-existent, which is among the best reasons why you should consider signing up with them. That being said, they have a lot of deposit and withdrawal options, as we have listed below:

Deposit & Withdrawal OptionProcessing TimeFeesAvailable Currencies
Domestic EFT1-2 business days$0AUD
Domestic Fast Transfer (Australia Only)Up to a few hours, during AEST Business hours$0AUD
International EFT2-5 business days$0AUD, USD, GBP, EUR, SGD, JPY, NZD, CAD
BPAY1-2 business days$0AUD
POLi PaymentsWithin 24 business hours$0AUD
Credit/Debit Card
(Visa and MasterCard)
Instant$0AUD, USD, GBP, EUR, SGD, JPY, NZD, CAD
JCBInstant$0JPY
China Union PayInstant1.30% — 2.50%USD
NetellerInstant$0AUD, USD, GBP, EUR, SGD
Skrill
(Moneybookers)
Within 24 business hours$0AUD, USD, GBP, EUR, SGD
AstroPayInstant$0USD + Most local currencies
Broker-to-Broker2-5 business daysSubject to bank transfer feesAUD, USD, GBP, EUR, SGD, JPY, NZD, CAD
FasaPayInstant$0USD
Thailand Instant BankInstant$0USD
TrastraInstant$0AED, CAD, EUR, GBP, JPY,
NZD, PLN, SGD, USD

When it comes to withdrawals, Vantage FX has a few notes it wants you to consider before you do so. We have compiled them here for your reference, verbatim:

  • There are no internal fees for deposits and withdrawals. The only time when you might be subjected to transaction fees is when you use overseas banking options.
  • The important thing is that any money you withdraw from Vintage FX should go to an account bearing the same name as your Vantage FX account.

However, you decide to hold your transactions, you must use the same option for withdrawals as your deposits. For example, if you make a deposit using Skrill, you can’t withdraw using Neteller. It has to be the same.

Promotions

Another reason to sign up are the lucrative Vantage FX promotions. We have listed the two best on offer below:

50% Welcome Bonus

The best way to cash in promotion is to sign up. The first time you make a deposit of up to 500 USD, you get a 50% bonus equity with which to trade. For your reference, we have attached a handy little table:

Your depositBonus Applied
200 USD100 USD
300 USD150 USD
400 USD200 USD
500 USD250 USD
500+ USD250 USD

10% FX Rebate

When you open a Vantage FX Standard STP account and make a minimum deposit of 1,000 USD, you will earn up to 10% of your deposit as a Forex rebate. Plus, upon making a trade, your rebate will be added to your account balance as real equity.

Best Payment Options

Vantage FX funding is handled through a lot of options and platforms, but there are a few that are better than the rest. For example, bank transfers usually take a long time — sometimes up to 3-4 business days. Instead, by using e-wallets like Neteller and Skrill, you save a lot of time and hassle.

Is Vantage FX Legit? A Comprehensive Review

However, the undisputed best way of making deposits and withdrawals is through Trastra. With Trastra, you get a bank card that you can use internationally. It also limits your spending, stopping you from going broke while on a shopping spree. However, the thing that sets Trastra cards apart — and makes it your best friend — is the added anonymity it brings you. It is something that you can really use when dealing with forex and CFDs.

Trastra card

What are you waiting for? Say goodbye to delayed transactions and sign up for these services today! Registering to Neteller or Skrill through Baxity will unlock special rewards for you. Trust us, you don’t want to miss out on this.

FAQs

In the end of our Vantage FX review, we thought it best to part ways by answering the most commonly asked questions:

What is the minimum deposit/withdrawal on Vantage Forex Broker?

The minimum deposit is 200 USD and 0 USD for withdrawals.

Are there any deposit/withdrawal fees?

No, there are no deposit and withdrawal fees.

How to contact Vantage FX customer support?

What makes Vantage FX legit is their award-winning customer support which you can reach through phone, email, and live chat.

 

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