|Platform||MetaTrader4, MetaTrader4 for MAC, Binary Options Platform, Web Trader, Mobile Trading Apps, MAM/PAMM, ZuluTrade, MyFXBook AutoTrade|
|Minimum account size||AU$100|
|Minimum lot size||0.01|
|Tradable Assets||more than 50 instruments|
|Spread on EUR/USD||1 pip|
|Payment methods||Credit or Debit Card, International SWIFT, BPAY, POLi Payments, Skrill/ Moneybookers, Neteller, Broker to Broker Transfer|
|Demo account||Unlimited Virtual Money|
|Accepts Australian traders||Yes|
|Support||Mail, Phone, Fax, Email & Live Chat|
- Regulated in Australia (ASIC)
- Variety of payment methods supported
- Tight spreads
- Local support for Australian traders
- Transparent Forex rebate program
- Customer support not available on weekends
Vantage FX was established in 2009. They are based in Australia and are regulated by the Australian Securities and Investments Commission (ASIC). Do they have the advantage or are they just an ordinary broker? Let’s find out in this review.
With an MT4 Forex trading account, you’ll have access to a selection of platforms that can be accessed on desktops, Macs, web browsers and mobile apps. They also have a high performance multi account manager MAM/PAMM and social trading solutions via MyFXBook AutoTrade and ZuluTrade. This kind of diversity definitely deserves a perfect Platform score of 10/10.
The platform designs are very simple and straightforward so the performance is never compromised. All the necessary elements and tools can be found on the main interface and are just a few clicks away. Overall, the layouts were fully optimized and this earns a Design score of 5/5.
Upon registration a minimum deposit of AU$100 is needed to begin trading. This is not the lowest but a lot lower than what other most brokers require open an account which is why they notched a Minimum Deposit score of 4/5.
Minimum Lot Size
Similar to most brokers, the minimum accepted lot size is 0.01. Since micro lots are allowed, Vantage FX got a Minimum Trade score of 4/5.
Over 50 instruments can be traded on their platform. They have forex markets, indices and commodities with diversified choices and this warrants a Tradable Assets score of 3/5.
Their feeds are sourced from leading liquidity providers and banks which is why they are capable of offering low spreads even for the major currency pairs. The EUR/USD pair for example has a tight spread of 1 pip and this warrants a Payouts score of 10/10.
Withdrawal requests made before 12:00 AEST are processed on the same day while those received after the cutoff are processed the next business day. Such speed is commendable because other brokers take longer. What’s also notable about this broker is that they do confirmations via phone or email if a full balance withdrawal or amounts higher than AU$5,000 has been made. This level of speed and security deserves a a Withdrawal Time score of 10/10.
Deposit and Withdrawal Methods
Another notable advantage of this broker is that they accept a number of payment methods. They support credit and debit cards, Bank Wire Transfer including International SWIFT and BPAY, POLi Payments, Skrill/ Moneybookers, Neteller and even broker to broker transfer. This earned a Deposit and Withdrawal Methods score of 5/5.
You have the choice to contact their customer service team by mail, phone, fax, email or live chat. For Australian clients, they have a direct phone support or you can even drop by at their office in Sydney if you have any questions or concerns. This is a huge advantage because most traders prefer to have a local support and for this Vantage FX notched a Customer Support score of 7/15.
Their feeds are taken from leading liquidity providers and banks allowing traders to open, close, place and amend live positions and pending orders in real-time. Exhaustive tests were also done and the feeds were indeed updated and this merits a Quote Accuracy Score of 10/10.
Vantage FX is licensed and regulated by the Australian Securities and Investments Commission. This is a better advantage compared to other brokers that are licensed by regulators from other countries because the financial authority that issued the license is actually based in Australia. A lot of forex traders also have more preference to this broker due to their excellent support and better trading conditions based on the lengthy research we have done and this kind of credibility deserves a strong Reputation score of 10/20.
Final Score: 80/100