Vantage Review 2023

How we ranked fees

We ranked Vantage's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let's go over some some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

• Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
• Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of Vantage for each asset class. For example, in the case of forex and stock index trading the most important fees are spreads, commissions and financing rates.

We also compared Vantage's fees with those of two similar brokers we selected, Fusion Markets and IC Markets. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Vantage alternatives.

To have a clear overview of Vantage, let's start with its trading fees.

Vantage trading fees

Vantage trading fees are average. There are different cost structures for different account types. We tested the 'Pro ECN with MetaTrader' account, which charges a commission but offers tight spreads.

We know it's hard to compare trading fees for forex brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We selected popular instruments in each asset class usually provided by forex brokers:

• Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP
• Stock index CFDs: SPX and EUSTX50
• Stock CFDs: Apple and Vodafone

A typical trade means buying a leveraged product, holding it for one week and then selling. For the volume, we chose a $20,000 position for forex and a $2,000 position for stock index and stock CFD transactions. The leverage we used was:

• 30:1 for forex
• 20:1 for stock index CFDs
• 5:1 for stock CFDs

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let's see the verdict for Vantage fees.

Forex fees

Vantage forex fees are low, mostly similar to the fees charged by its main competitors.

CFD fees

Vantage has mixed CFD trading fees. Stock index CFD fees are generally low, but stock CFD fees are quite high.

Non-trading fees

Vantage has low non-trading fees. It charges no account, inactivity, or deposit fees.

There is no fee for credit/debit card and electronic wallet withdrawals. One international bank withdrawal per month is also free of charge, while all subsequent withdrawals are charged 20 currency units of your account ($20, €20, etc.).

Can you open an account?

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Vantage accepts customers from all over the world with some notable exceptions, like the US.

What is the minimum deposit at Vantage?

The required Vantage minimum deposit is $50 for STP and ECN accounts and $10,000 for a RAW ECN account.

Account types

If you want to explore the possibilities offered by Vantage, we recommend opening a demo account first. There are 3 main types of trading accounts at Vantage (STP, Raw ECN, Pro ECN), which differ in their pricing structure and the spreads provided. The key differences are shown in the following table. 

In addition, you can also open swap-free or Islamic STP and ECN accounts. In the case of swap-free accounts, if you hold your leveraged position overnight, instead of overnight interest you are charged an administrative fee.

You can open corporate accounts as well. In this case, Vantage's support team will contact you with the required forms.

How to open your account

Opening an account at Vantage is an easy and fast process, the client interface is super user friendly. Follow these simple steps to open an account in under 5 minutes:

1. Click on the 'Live Account' button.
2. Enter your name, email address and phone number.
3. Provide additional personal data required and answer a few questions on your financial status and trading experience.
4. Select a trading platform, account type, and account base currency.
5. Upload a copy of your photo ID or passport ,and proof of residence (utility bill or bank statement are accepted).

Account base currencies

At Vantage, you can choose from 8 base currencies: USD, EUR, AUD, SGD, CAD, GBP, NZD, JPY.

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don't have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These banks usually offer bank accounts in several currencies with favorable exchange rates as well as free or cheap international bank transfers. Opening a digital bank account only takes a few minutes on your phone.

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Deposit fees and options

Vantage does not charge a deposit fee.

Although depositing is generally free of charge, there are some exceptions. When depositing funds via China Union Pay you will be charged 1.30%-2.50% of the transfer amount; deposits made via Neteller and Skrill are subject to their fee policy; and broker-to-broker transactions are subject to bank transfer fees.

Besides bank transfer and credit/debit cards, you can use the following electronic wallets:

• Skrill
• Neteller
• Union Pay
• Fasapay
• Bitwallet
• Cryptocurrency (Bitcoin, Tether)
• BPAY
• POLi
• JCB
• AstroPay
• Vload
• Perfect Money

A bank transfer can take several business days, while payment with a credit/debit card is instant.

You can only deposit money from accounts that are in your name.

Vantage withdrawal fees and options

Vantage has no withdrawal fees for credit/debit cards and electronic wallets. The first international bank withdrawal each month is free of charge; all further withdrawals within the month carry a 20 currency unit fee ($20, €20, etc.). 

How long does it take to withdraw money from Vantage? We tested the debit card withdrawal and it took 1 business day.

You can only withdraw money to accounts in your name.

How do you withdraw money from Vantage?

• Log in to the client portal.
• Click on 'Withdraw Funds'.
• Select from the drop-down menu how you funded your trading account.
• Enter the requested data (such as name, bank address and account number).
• Enter the withdrawal amount.
• Upload a copy of your bank statement (not older than 3 months).
• Click 'Submit'.

Vantage doesn't have its own self-developed trading platform. It provides the MetaTrader 4 and MetaTrader 5 third-party trading platforms. We reviewed MetaTrader 4.

MetaTrader 4 is available in an exceptionally large number of languages.

Look and feel

The Vantage web trading platform has great customizability. You can easily change the size and position of tabs. The platform provides 30 indicators and 24 technical analyis tools on 9 time frames. It offers one-click trading and works on more than 5 different types of internet browsers.

However, the platform feels outdated and some features are hard to find. For example, it took us a while to figure out how to add an asset to our watchlist.

Login and security

Vantage provides only a one-step login. Two-step authentication would be more secure. 

Search functions

The platform's search functions are OK. Assets are grouped into categories, but we missed the usual search box where you can enter asset names or other keywords manually.

Placing orders

You can use all the basic order types. However, you won't find more sophisticated order types such as 'one-cancels-the-other'. The following order types are available:

• Market
• Limit
• Stop
• Trailing stop (available only in the MT4 desktop platform)

To get a better understanding of these terms, read our overview of order types.

There are also order time limits you can use:

• Good 'til canceled (GTC)
• Good 'til time (GTT)

Alerts and notifications

You can't set alerts and notifications on the Vantage web trading platform. 

Portfolio and fee reports

Vantage has clear portfolio and fee reports. You can easily find your profit-loss balance and the commissions you paid under the 'History' tab.

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Vantage provides both its own mobile trading platform and the MetaTrader 4 or 5 third-party mobile trading platforms. (Note: MetaTrader's iOS version is currently not available to download in the EU.) In this review, we tested Vantage's own mobile trading platform, which has great visual design and offers a wide variety of functionalities. 

The platform is available for both iOS and Android. We tested it on both.

Under 'Settings', you can select one of the following languages: English, French, Chinese and Thai. Stock index-related analyses, a newsletter, and FX TV are also available under the 'Signals' menu item. 

Look and feel

We really liked the Vantage mobile app because it is user-friendly, uncomplicated, and designed with convenience in mind.

Login and security

Unlike the web and desktop trading platforms, Vantage provides a two-step login for the mobile trading platform, which makes us feel more confident to use it. 

You can't use fingerprint or Face ID authentication, however. Offering these features would make the login process more convenient.

Search functions

The search functions are good. You can search by navigating the category folders.

Placing orders

You can use the same order types as on Vantage's web trading platform. 

Alerts and notifications

Alerts and notifications are not available on the Vantage mobile app.

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Vantage offers MetaTrader 4 and MetaTrader 5 as desktop trading platforms. We reviewed MetaTrader 4 (MT4).

It has the same design, is available in the same languages, offers the same order types (plus trailing stop), has the same search functions, and offers the same portfolio and fee reports, as the web trading platform.

The major difference is that you can set alerts and notifications on the desktop trading platform, in the form of mobile push and email notifications. 

To set email or mobile notifications, you must enter your email address and mobile MetaQuotes ID (you can find it in the settings of the MT4 app). You can add them under 'Options' in the 'Tools' menu.

In an added feature compared to MT4, the MT5 platform of Vantage allows hedging with 21 time frames.

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Vantage is primarily a forex broker with some CFD and cryptocurrency instruments. To learn more about CFDs, read our CFD trading tips.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Vantage has an average forex selection, but its stock CFD offering lags behind that of its main competitors. Stock CFDs typically include the largest companies listed on the UK, US, European and Australian markets. In terms of cryptos, you can trade 34 products, like Bitcoin, Ethereum, Litecoin, Ripple, Neo, Terra and EOS.

Some stock CFDs are only available on the MetaTrader 5 platform. 

We really liked that you can change the default leverage size of the products when trading. This is a great feature.

Changing the leverage is a very useful feature when you want to lower the risk of your trade. For example, instead of trading with 5:1 leverage, using 2:1 leverage in the case of stock CFDs would greatly reduce your risk. Be careful with forex and CFD trading, as the preset leverage levels are high. The leverage of US Share CFDs are 33:1 and the minimum lot size is 0.01.

Social trading, algo trading and strategies

Vantage has partnered up with multiple social trading platforms, through which you can access copy trading features, including ZuluTrade, Myfxbook, MetaTrader Signals and DupliTrade.

Vantage's research tools are available in different places:

• The Client Portal is available under Pro Trader Tools. These are available only to customers with a minimum balance of $1,000 on their account.
• The MetaTrader trading platform.
• Smart Trader Tools can be downloaded from the webpage:
  • Alarm Manager
  • Correlation Matrix
  • Correlation Trader
  • Excel RTD Link
  • VIP Trading room: exclusive market insights and one-to-one consultation with pool of top tier analysts

Trading ideas

Vantage provides many trading ideas. These are branded Analyst Views, and are categorized by asset classes and broken down into subcategories. Check out the 'Featured Ideas' section for additional tips and charts on major currency pairs and individual stocks. The technical analysis, located under Market Widgets, covers all asset types offered by Vantage.  

Fundamental data

A limited set of macroeconomic fundamental data is available within the Economic Calendar. 

Charting

Vantage has OK charting tools. You can use 31 technical indicators and other editing tools, such as trendlines and Fibonacci retracement.

On the negative side, the design is outdated and some features are hard to use. For example, we had difficulty figuring out how to remove an indicator from the chart.

News feed

The news feed, called Market Buzz, is a visually appealing interface that offers news analytics and sentiment indicators. Individual news stories, provided by third-party news sites such as ForexLive and tickerreport.com, open on a new page, which is rather cumbersome. The news feed is also cluttered with Twitter messages. 

Compare research pros and cons

You can contact Vantage via:

• live chat
• phone
• email

The live chat at Vantage is slow. The relevance of the answers was OK, although some questions were not properly addressed.

Phone support response time at Vantage is OK, but a few times it took several minutes to reach a customer service representative. Nevertheless, we received relevant answers and the staff was very helpful.

Customer emails are typically answered within a little more than a business day and this was where we missed relevant answers the most. Some questions were left unanswered, while in other cases the response was irrelevant.

We also missed 24/7 availability. You can contact Vantage from Monday to Friday, between 9 a.m. and 5 p.m.

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You can find Vantage education tools on their website, under the 'Clients' menu. At Vantage, you can learn in the following ways:

• Unlimited demo account
• Quality educational texts
• Platform tutorial videos
• General educational videos
• Webinars

The unlimited MetaTrader 4 or MetaTrader 5 demo account is a great way to get up to speed with trading and become familiar with the trading platforms. There is no time limit, which means you can use it for as long as you want. This is a great plus, as at some brokers there is a time limit, such as 30 days. 

Vantage clients have access to a wealth of video tutorials on basic trading concepts for various assets and more advanced technical and market analysis. If you choose to skip opening a demo account, trading platform tutorials are also available here. We loved the rich selection of lessons. 

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Is Vantage regulated?

Yes, it is regulated by the Australian Securities and Investments Commission (ASIC) for Australian clients and by the Vanuatu Financial Services Commission (VFSC) for clients from other countries.

Vantage also has regulation by the UK's Financial Conduct Authority (FCA), which offers client protection through the Financial Services Compensation Scheme (FSCS). FSCS protection is not dependent upon the depositor’s place of residence, but where the bank, building society or credit union holds the deposit.

Is Vantage safe?

When assessing the safety of a brokerage, we highly advise that you check two facts:

• how you are protected if something goes wrong
• what the background of the broker is

How you are protected

Vantage is regulated by multiple authorities, but only clients with deposits at the UK entity enjoy investor protection.

Vantage provides negative balance protection. If the balance on your account goes into negative, you will be protected. You should note that if your provider is Vantage Global Limited (Vanuatu) it is at Vantage's discretion whether they credit your account with the amount of the negative balance.

Background

Australia-based Vantage was established in 2009. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

As a negative, the brokerage is not listed on a stock exchange, it does not disclose financial information and it is difficult to ascertain its ownership background. 

Find your safe broker

We recommend Vantage for forex and CFD traders familiar with the MetaTrader trading platforms.

Below you can find links to all aspects of Vantage in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our Vantage fees article.

What about the minimum deposit?

Our ultimate guide to the Vantage minimum deposit is updated regularly.

How to start your Vantage account?

Look no further than our evaluation of the Vantage account opening.

How's their trading app?

Here's our expert view after checking the Vantage trading app.

Is the quality of customer service satisfactory?

All you need to know about the Vantage customer service.

Legit or scam?

Is Vantage legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether Vantage is really free.

Is this broker good for beginners?

We checked it in Is Vantage good for beginners.

Should you buy your silver bullets on Vantage?

Research for silver bugs in the Silver buy on Vantage guide.

I want to trade options, are they available at Vantage?

We explored the topic in Can you trade options on Vantage?

What is the minimum account balance at Vantage?

Check out the current account balance requirements at Vantage in our What is the minimum account balance at Vantage article.

Looking for commission and fees data for Vantage?

We collected them in Vantage commission and fees.

How do you withdraw money from Vantage?

We tested it and collected the options and costs in How to withdraw money on Vantage.