Vantage Review 2023

Trust

This section will cover how the different entities of Vantage are regulated and how this impacts you as a trader. We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust.

• Vantage International Group Limited is authorized and regulated by the Cayman Islands Monetary Authority (CIMA), SIBL number 1383491. We rate CIMA as a Tier 3 regulator.
• Vantage Global Prime Pty Ltd is regulated by the Australian Securities and Investments Commission (ASIC), AFSL no. 428901. We rate ASIC as a Tier 1 regulator.

Why is it important to know where your broker subsidiary (entity) is regulated?

Different regulators provide different levels of protection, with top-tier regulators providing greater oversight than those situated offshore. The table below lists the protections and benefits by the entity, regulator, and region.

Regulatory requirements are subject to change. We gathered the data listed above in June 2022.

Stability and Transparency

In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, the size of the company, and how transparent they are in terms of information being readily available.

Vantage launched in 2009, reflecting a substantial operating history. According to the company website, the Sydney, Australia-based broker has over 1,000 employees and a presence in 172 countries.

In our research, Vantage showed a good level of transparency in its regulatory status, with a listing of all entities and regulators in the website’s footer.

Trading costs such as Swap Rates and Spreads and Commissions are clearly explained in the Trading Conditions section. The Client Agreement can be found on the Legal Documentation page. The About Us page does a good job of sharing the company’s background and values.

Overall, we rate Vantage as having a high level of transparency, better than average for the industry.

Fees

Trading Fees

We tested the spreads at Vantage across different asset classes using the MetaTrader 4 platform. The test was done at 8 AM GMT and 3 PM GMT on June 17th, 2022. We made our tests at two different times to allow greater perspective. 8 AM GMT is the London open when there is a great deal of liquidity in the forex market and tighter spreads in currency pairs. 4 PM GMT is during the New York trading session.

We recorded low spreads in all asset classes and experienced especially low spreads in CFDs on indices.

Swap Fees

Swap fees were average at Vantage. In the table below, you can see the Swap Long (the cost/credit of holding a buy position overnight) and the Swap Short (the cost/credit of maintaining a sell position overnight) for one full-sized contract. A full-sized contract is 100,000 units of the base currency (the first currency quoted in the pair). We recorded the data on June 17th.

Non-Trading Fees

Vantage does not charge any account maintenance or inactivity fees.

Are Fees at Vantage Competitive?

We judged the fees at Vantage to be competitive and better than average for the industry. Our tests were performed using the Standard STP account. Traders can find even lower costs with the RAW and PRO ECN accounts.

Platforms and Tools

MetaTrader 4 Desktop

Vantage offers MetaTrader 4 and MetaTrader 5 for desktop, which include advanced functions such as copy trading and automated trading.

MetaTrader 4 is available in 39 languages, from Arabic to Vietnamese. The platform provides popular features such as:

• Alerts. This feature allows traders to be updated when an instrument reaches a specific price level. Alerts can be delivered via audio, an email, or push notification to a mobile device.
• Watchlists. Traders can set up a list of their favorite instruments and follow live quotes in a market watch panel.
• One-click trading. This feature allows traders to execute orders with a single click and no secondary confirmation. Placing a trade with a single click saves time and is especially useful for short-term traders.
• Trading from the chart. MT4 also allows users the convenience of trading directly from the chart.

MetaTrader also delivers when it comes to the range of available order types. The platform offers the following order types:

• Market Order. This is an order to buy or sell an instrument at the current best available price.
• Limit Order. This is an order to buy or sell an instrument at a specified price or better.
• Stop Loss Order. This is an order to buy or sell an instrument that is triggered when price reaches a specified level.
• Trailing Stop Order. This is a stop-loss order that can be set at a defined percentage or dollar amount away from an instrument’s current market price. It is used to secure profits when you are in a winning trade while not having to exit the position.

Charting features are robust. MetaTrader 4 offers:

• 30 technical indicators. These include classic trend indicators, volume indicators, and oscillators.
• 23 analytical objects. These include lines, channels, Gann, and Fibonacci tools.
• 9 time frames Each instrument can be displayed in nine time frames, from one minute to one month.
• 3 chart types. Traders can choose between Bar Charts, Japanese Candlestick Charts, and Line Charts.

MetaTrader is also popular due to its copy trading and automated trading features.

• Trading Signals. Signals in MetaTrader 4 allow users to copy the activity of other traders in real-time automatically.
• Automated trading. MetaTrader 4 allows users to develop, test, and apply Expert Advisors (EAs). EAs are programs that monitor and trade markets using algorithms. They find opportunities according to set parameters and then either create a notification or automatically open a trade.

The MetaTrader 4 desktop platform is one of the world’s most feature-rich and popular trading platforms. It does not have the most beautiful interface, and it does require some time and effort to learn, but that is typical of advanced platforms.

MetaTrader 4 Web

Vantage also offers the MetaTrader Web Platform (Webtrader), which is a slightly stripped-down version of the desktop platform. It allows you to trade without any additional software; only an internet connection is required. Webtrader enables users to trade directly from any browser and operating system.

Popular features include:

• One-click trading.
• Trading from the chart.
• Watchlists with real-time quotes.
• Trade History.
• Advanced charting with 30 indicators for technical analysis.

Copy-trading and automated trading are also only available on the MT4 desktop platform.

ProTrader Powered by TradingView

The Vantage ProTrader platform offers 1-click trading, trading from the chart, watchlists, and market news from sources such as Seeking Alpha and MarketWatch. Open positions and pending orders are easily viewable in the Account Manager area.

The market-leading TradingView charts feature 11 time frames, 11 chart types, and over 100 technical indicators. Dozens of drawing tools ranging from basic trend lines to Fibonacci retracements are also available.

The range of available order types is robust on the ProTrader platform. Market orders, limit orders, stop-loss orders, and trailing stop-loss orders are available. Traders also have the option to apply time in force conditions such as Good-Til-Canceled (GTC).

The ProTrader platform shines in that it is both powerful in its functionality and intuitive with a well-designed interface.

MetaTrader Mobile App

Vantage offers the MetaTrader 4 and MetaTrader 5 mobile apps, which are available for Android and iOS. The apps offer popular features such as alerts, 1-click trading, and trading from the chart.

The MetaTrader mobile apps also provide various order types, including pending and stop-orders. However, trailing stop-loss orders are only available from the desktop. To change the language of the MetaTrader app, you must change the language for your entire phone. As with desktop and web, the interface is not the most intuitive, but the MetaTrader apps offer an above-average range of features.

Vantage Mobile App

The Vantage mobile app is available for Android and iOS. The app is highly intuitive and offers popular features such as watchlists and trading from the chart. Standard order types such as market orders, limit orders, and stop-loss orders are available.

Users can choose between Japanese candlestick and tick charts, 9 time frames, and a range of technical indicators, including Bollinger Bands and MACD. The app also has a built-in economic calendar, research reports, and analysis from third-party provider Trading Central.

The Vantage app is well designed and easy to use, but lacks some features (for example, 1-click trading) that are available on the MetaTrader 4 and 5 apps.

Order Execution

With the Vantage Standard STP (Straight Through Processing) account, there is no dealing desk, and the counterparty to client trades are the largest liquidity providers linked to the Vantage oneZero MT4 Bridge.

Tradable Instruments

What are CFDs?

CFDs (Contract for Differences) are financial derivative products that allow traders to speculate in various markets without owning the underlying assets. Tradable instruments at Vantage include the following assets:

• 50 CFDs on currency pairs. A currency pair combines two different currencies, with the value of one currency quoted against the other. For example, EUR/USD, which reflects the value of the euro measured in dollars.
• 24 index CFDs. An index is a basket of trading instruments used to gauge a market sector, stocks within an exchange, or a country’s economy.
• 22 CFDs on commodities. Commodities are raw products, such as gold, oil, and metals.
• 143 CFDs on stocks. (71 US stocks, 44 European stocks, and 28 UK stocks). A stock is a security that represents partial ownership of a corporation. Keep in mind that when trading stock CFDs, you are speculating on the price of a stock without actually taking ownership of the underlying company.
• 43 CFDs on cryptocurrencies. Cryptocurrencies, such as Bitcoin, are digital currencies that are secured by cryptography.

In the tables below, you can see a selection highlighting the variety of instruments available at Vantage:

Vantage is above average in its range of CFDs on indices, commodities, and cryptocurrencies. Soft commodities such as cocoa and sugar that Vantage provides are uncommon among CFD brokers. The variety of CFDs on forex and shares is closer to normal but broad enough to meet the needs of most traders.

Customer Support

We tested customer support with a wide variety of queries, ranging from available order types to whether negative balance protection is provided.

Responses were fast, with emails typically responded to within one business day and phone calls answered within a couple of rings. One minor drawback is that at the Vantage International Group Limited entity, users must navigate through a series of automated questions before reaching a live agent via chat. The quality responses were good across all mediums, with well-informed, patient agents delivering the desired answers.

Deposits & Withdrawals

In the tables below, we break down the fees and processing times for each deposit and withdrawal method.

Deposits

Withdrawals

While Vantage does not charge any fees for deposits and withdrawals, clients should be aware that their banks may charge fees for transfers.

Also, Vantage returns all funds to the original funding source. If, for instance, you deposited using a credit card, you would need to withdraw funds back to that same card.

Account Types and Terms

Account Application

To open an individual account at the Vantage International Group Limited entity, prospective clients must provide the following information.

• Name.
• Nationality.
• Email.
• Phone.
• Country of main residence.
• Address.
• Whether they are a US citizen.
• Employment status.
• Estimated annual income.
• Estimated savings and investments.
• Estimated intended deposit.
• Source of funds.
• Number of trades per week.
• Trading amount per week.
• Desired trading platform.
• Desired account type.
• Desired account currency.

Finally, applicants must verify their identity (using a passport, national ID card, or driving license) and address (with bank statements, utility bills, or a government-issued tax document).

The three main account types cater to different trader profiles as follows:

• The Standard STP Account is geared towards new traders who want simple, direct market access without commissions.
• The RAW ECN account is designed for experienced traders looking for deep liquidity and tight spreads.
• The PRO ECN account is for professional traders and money managers who trade high volume.

The table below breaks down the various features of each account type.

Demo Accounts

Vantage offers unlimited demo accounts via MetaTrader 4, MetaTrader 5, ProTrader, and the Vantage app. Demo accounts are essential for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking any real money.

The demo accounts feature live quotes and simulate live market conditions in assets such as forex and CFDs on commodities, indices, and stocks. Once users are up to speed on a demo account, they can easily switch over to a live account.

Swap-Free Accounts

Vantage swap-free accounts have been created for traders who cannot receive or pay swaps due to religious beliefs.

Leverage

One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account.

Vantage International Group Limited offers clients leverage of up to 1:500. This means that with an account of $1,000, you can control up to $500,000 worth of positions in the market. Leverage is often described as a ‘double-edged sword’ as it can hurt you as much as it helps you. Traders must remember that it can amplify both their profits and their losses.

Supported Countries

Vantage takes clients from the majority of countries globally. However, the company does not offer its services to residents of certain jurisdictions such as North Korea, Japan, the United States, and some other regions.

Research

Traders can view the Daily Market Update from Vantage on the company website. The report covers overnight headlines, the day ahead, key takeaways from major economic events, and a chart of the day including technical insights.

The economic calendar on the website helps traders stay on top of economic releases and includes the time and date of events, the analyst forecast, the actual figure, and the previous figure.

The sentiment page on the Vantage website shows the total long and short positions of Vantage clients. With over 50,000 clients, Vantage has a large amount of data to draw from. The ratio of long to short positions is represented as a percentage, with orange showing the percentage of clients who are short and teal indicating the percentage who are long. Sentiment is commonly used as a contrarian indicator. When a high percentage of traders are either long or short an instrument, this can be an indication of a potential turning point in the market.

Education

The Academy section of the Vantage website features in-depth guides covering topics such as trading strategies and trading psychology. For new traders, there is material in the style of a course, ranging from market terminology to technical and fundamental analysis.

Multiple live webinars take place weekly with market outlook and trading strategy themed sessions. Vantage also has a good range of platform tutorials to help traders make the most of the available software.

The Bottom Line

Sydney, Australia-based Vantage has evolved to become a major player in the forex and CFD industry and performed very well in our tests.

Regulated by the top-tier ASIC and the offshore CIMA, the company is audited, and all client funds are held in a segregated trust account. Clients with the offshore entity should be aware that regulatory oversight is limited, and negative balance protection is not provided. Overall, we rate Vantage as a relatively safe broker to work with.

Fees are kept to a minimum, with tight spreads, no account maintenance fees, and no internal fees for deposits and withdrawals. Vantage can cater well to both beginners and advanced traders with a range of account types and trading platforms to choose from. The barrier to entry is set low with a $200 minimum deposit.

To conclude, we judge that Vantage is an impressive, well-rounded CFD broker.

FAQ