Our Vantage FX review UK found that the broker offers a bonus to new users. This is a 50% bonus on your first deposit, which means you’ll receive an amount equivalent to half your first deposit in the form of bonus funds.
As another perk, for every standard lot you trade, Vantage FX converts two units of your bonus into real cash that you can withdraw at any time. Vantage FX also offers two rebate programmes that are available once you’ve signed and can earn you cash rewards.
Another new customer perk at Vantage FX is the refer a friend bonus. If you refer a friend who signs up, deposits at least £1,000 and starts trading, you’ll get a £150 bonus and your friend will get a £100 bonus!
You can easily sign up and quickly verify your account by providing a copy of your ID, and you can then enjoy high leverage and low fees across over 300 assets.
Vantage FX doesn’t have its own proprietary trading platform, unlike many other brokers in the space. It is compatible with MT4, MT5, Zulutrade, DupliTrade and Myfxbook.
MT4 is considered the gold standard when it comes to forex trading platforms and is packed with advanced tools and expert advisors. MT5 is similar but is designed to provide for a wider range of assets, such as shares and futures.
Zulutrade, DupliTrade and Myfxbook are all social trading platforms. These allow you to interact with other traders and even copy them.
All of these trading platforms are very popular and are relatively easy to use. One thing to note is that while the likes of MT4 and MT5 are suitable for both beginners and experienced traders, they do have a steeper learning curve than the simpler proprietary platforms offered by some other brokers.
You can also access the MT4 and MT5 trading platforms on your smartphone via the Vantage FX mobile app. The apps are similar to the web and desktop platforms and are ideal for trading forex and commodities.
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Our Vantage FX review UK found that the broker offers numerous account types to choose from. They are:
PRO ECN account – This is Vantage FX’s most advanced trading account and boasts deep liquidity, institutional grade spreads, extremely fast execution speed. With the PRO ECN account, forex spreads start from 0.0 with a £2 commission.
RAW ECN account – This is another professional trading account offered by Vantage FX, with spreads from 0.0, industrial-grade liquidity and flexible leverage. This account is slightly more expensive than the PRO, with a £3 commission.
Standard STP account – The Standard account is best for beginners and casual traders. There’s no commission, but the spreads are higher than the above two accounts.
Islamic account – Vantage FX also offers a swap-free Islamic account that complies with Sharia Law. Both the RAW ECN and Standard STP accounts are available in a swap-free format.
Demo account – Our Vantage FX review UK found that the broker offers an unlimited demo account you can use to try out the MT4 platform. This is great, as the usual MT4 demo account is limited to just 30 days!
Vantage FX does not apply an inactivity fee to any of its account types.
Fees – Our review of Vantage FX Fees
Our Vantage FX review UK found that this trading platform charges a spread and/or commission depending on the asset you’re trading.
The spreads for forex are certainly competitive and you can even get zero spreads on the RAW and PRO accounts. For the Standard account, the minimum spread for GBP/USD is 0.1, while the minimum for GBP/AUD is 0.3.
While the RAW and PRO accounts come with low spreads, our review of Vantage FX found they do charge commissions – £3 per trade for the RAW account and £2 per trade for PRO accounts.
For commodities and indices, the primary fee of a spread. To give you an idea of how these compare to other brokers, here’s Vantage FX’s average spread for some popular assets available on its platform:
- West Texas Crude Oil Future – 40.86
- FTSE 100 Index – 230.86
Finally, Vantage FX charges a commission for trading share CFDs. This starts from £6 per trade for US shares and £10 per trade for UK, EU shares, which is pretty expensive compared to other brokers. Check out our review of HYCM to see how these brokers compare in terms of fees.
As we’ve already touched on, Vantage FX doesn’t have its own proprietary trading platform and instead is compatible with numerous third-party platforms.
The most popular Vantage FX trading platform is MetaTrader 4, which is used by millions of forex traders around the world. The platform is specifically designed for forex and offers a huge range of features and tools, including technical analysis, indicators, advanced charting, trading signals, expert advisors, and many more. To see how Vantage FX compares to another MT4 broker, check out our Eightcap review UK.
You can also use MetaTrader 5 with Vantage FX accounts. Both MT4 and MT5 are available as web platforms, desk platforms and mobile apps, so you can take your pick.
Our review of Vantage FX also found the broker is compatible with three social trading platforms – ZuluTrade, DupliTrader and Myfxbook. Each of these are web platforms, though ZuluTrade is the only one available as a mobile app.
This trading broker offers a variety of deposit methods, including bank transfer (both domestic and international), debit and credit card, and e-wallets such as Neteller and Skrill. You are only able to withdraw money into a bank account.
There are no deposit or withdrawal fees charged by Vantage FX, which is a plus. The minimum deposit is £200, while the maximum is £1,000 for your first deposit and £10,000 per day after that.
Vantage FX processes withdrawal requests Monday to Friday 9am – 5pm. Withdrawals requested after 5pm will be processed the next working day. Overall, our review of Vantage FX found that the broker processes withdrawals quickly.
Vantage FX supports accounts in the following base currencies: GBP, USD, AUD, EUR, NZD, SGD, JPY, and CAD. This means that you don’t pay any conversion fees if you deposit in pounds.
You can contact Vantage FX’s customer service via phone, live chat and email. The fact that you can phone them is a plus and many brokers only offer online support. The UK telephone support team is even available 24 hours a day from Monday to Friday.
Waiting times on the phone are generally short and our Vantage FX review UK found that the broker is also responsive over email and live chat.
Vantage FX also has an ‘excellent’ rating on Trustpilot, with 4.3 stars out of 5 from more than 1,000 user reviews, so it’s clearly popular among the majority of users. There are also many Trustpilot reviews praising the broker’s customer service, which is always a good sign.
Vantage FX is a secure, regulated broker that is licensed by the Financial Conduct Authority, the UK’s primary regulator. It is also licensed by the Australia Securities and Investments Commission, as well as by regulatory bodies in the Cayman Islands and Vanuatu.
These licenses, particularly the FCA, meaning that you can trade with Vantage FX in confidence. It means that your deposits are protected up to £85,000, that client funds are held in segregated accounts, that data encryption is used to protect your personal data, and that it carries out KYC procedures to identify vulnerable users and minors. To see how Vantage FX’s security matches up to a similar broker, read our HotForex safe guide.
Let’s now take a look at some of the additional features that help Vantage FX stand out from the crowd.
Award winning broker – Our Vantage FX trading review found this broker has won several awards for its service. For example, in 2020 it won the M&A Today award for the Financial Trading Services Provider of the Year – Australia and the Global 100 award for the Best MT4/MT5 Broker & Lowest Trading Costs. These are just a couple of the many awards Vantage FX has won over the years.
Promotions – As well as the welcome offer, Vantage FX also has a cool Rebate Programme which means you can get cash rebates paid directly into your MT4 trading account to lower your trading costs. There’s also the Active Traders Programme, whereby any trader with an account balance of over £10,000 can earn rebates based on their trading activity, either in the form of cash or gifts like a Gift Card or even an iPhone!
Free tools – Vantage FX offers some really useful free tools you can use to help you with your trading. One of our favourites is the free forex VPS (virtual private server), which is a service you can use to keep MT4 running all day. There’s also a useful selection of forex indicators, among other tools.
Educational materials – Our review of Vantage FX also found the broker offers useful educational resources, including manuals and videos on how to use the MT4 and MT5 trading platforms.
Vantage FX certainly has a lot going for it. Primarily a spot forex broker, it also offers CFDs for commodities, shares and indices, so there’s a good range of trading options.
One of the best things about Vantage FX is its variety of account types. There are standard, expert and Islamic accounts to suit traders of all levels, and there’s also a Vantage FX demo account you can use for three, as well as an attractive welcome offer.
This broker also boasts competitive fees, particularly for forex. If you’re using a RAW or PRO account, you can even benefit from zero forex spreads! All Vantage FX accounts are compatible with MT4 and MT5, as well as social trading platforms like ZuluTrade.
That’s not to say Vantage FX doesn’t have its limitations, however. For example, it doesn’t offer cryptocurrencies or ETFs, and the spreads for share CFDs are high.
We’d say the three main things you should know about Vantage FX are that it’s best for forex, it’s mostly used via MT4 and MT5, and that it’s an FCA licensed broker.