Recommended for
- forex trading 4.1/5
Trusted broker
- Top-tier regulation in the UK
- Negative balance protection (terms apply)
Popularity
1058
people
chose this broker in the last 6 months
BrokerChooser Score
4.2/5
Our take on Vantage
Vantage FX is a forex and CFD broker regulated by the Cayman Islands, Australian financial authorities and the Vanuatu Financial Services Commission. Vantage’s non-trading fees are very favorable (e.g. there is no inactivity fee). Opening an account at Vantage is a very rewarding experience as the process is super fast (less than 5 minutes) and fully digital. The broker offers a great variety of deposit and withdrawal options and most are free of charge. On the negative side, the product portfolio at Vantage is rather limited as the broker only offers forex and some CFDs to trade. Customer service could be better, especially the relevance of email responses. Lastly, Vantage provides investor protection only in the UK. BrokerChooser gave Vantage a 4.2/5 rating based on analyzing 500+ criteria and testing via opening a live account.
FX commission per lot
$3.00
Number of currency pairs
45
Minimum deposit
$50
Credit/debit card deposit
$1
Vantage pros and cons
Pros
Cons
- Low non-trading fees
- Super fast account opening
- Seamless deposit and withdrawal
- Limited product selection
- Customer service could be better
- Investor protection only in the UK
Vantage main highlights
🗺️ Country of regulation
Australia, Cyprus, Lebanon, Saint Vincent and the Grenadines, Vanuatu
💰 Trading fees class
Average
💰 Inactivity fee charged
No
💰 Withdrawal fee amount
$0
💰 Minimum deposit
$50
🕖 Time to open an account
1 day
💳 Deposit with bank card
Available
👛 Depositing with electronic wallet
Available
💱 Number of base currencies supported
12
🎮 Demo account provided
Yes
🛍️ Products offered
Forex, CFD, Crypto
Fees
Vantage has average forex trading fees and low non-trading fees, and does not charge an inactivity fee. On the negative side, financing rates and share CFD fees are relatively high.
Account opening
Opening an account at Vantage is super fast and fully digital. The brokerage delivers on its promise, as you can open an account in less than 5 minutes.
Deposit and withdrawal
Vantage has a great variety of deposit and withdrawal options, which are fast, easy, and mostly free. However, fees are high if you use international bank withdrawal more than once a month.
Web trading platform
Vantage’s web trading platform is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. However, it lacks a two-step login and its design is outdated.
Mobile trading platform
Vantage has a terrific, well-designed mobile trading platform that offers great functionalities and is visually appealing. However, it lacks face ID login, which could make it even more user-friendly.
Desktop trading platform
In design and functionality, Vantage’s MetaTrader 4 desktop platform is almost the same as the web platform. One major difference is that you can set price alerts on it.
Markets and products
At Vantage you can only trade forex and CFDs (commodities, stock indices, shares, cryptos). This means many popular asset classes, like real stocks or ETFs, are not available.
Research
The Vantage client portal is well structured and easy to use, with convenient research tools. However, charting could be improved and most research tools are available only to clients with a $1,000+ account balance.
Customer service
Vantage has several customer service channels and we found the live chat to be the fastest and most relevant. Emails are typically answered quickly, but are not always complete or relevant. Lastly, we missed 24/7 support.
Education
In addition to an unlimited demo account, Vantage offers webinars and great video tutorials on various assets and trading platforms.
Safety
Vantage is regulated by multiple authorities and offers negative balance protection to clients. However, investor protection only applies in the UK, and the broker is not listed.