The range of forex assets offered by Vantage is not the widest, with 49 currency pairs available. On a lighter note, our experts didn’t find any reports of scams or malpractice across the group. This also includes Vantage Markets (Pty) Ltd, which is regulated by the South African Financial Sector Conduct Authority (FSCA), license number 51268.

I also compare Vantage to alternatives and explain what could be improved. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. However, Vantage trails industry leaders in key areas such as research and education. Ida is a financial writer with a degree in Digital Marketing and a strong background in content writing and SEO. Her expertise extends beyond marketing and writing, with a keen interest in cryptocurrencies and blockchain networks.

Vantage Pros and Cons

Based on my tests during normal trading hours, the Standard Account offers an indicative spread of 1.4 pips on the EUR/USD, which is reasonable though not the lowest. With that said, the commission-free trading model will serve new traders looking for straightforward pricing. Funds deposited via bank cards and most e-wallets are processed instantly. I tested the broker’s processing times using both a Visa card and Neteller and found that my funds were available immediately.

Unlike other brokers that charge fees for deposits, and on inactive accounts, Vantage does not generally charge any non-trading fees. However, a 20 GBP fee is charged for withdrawals via bank wire transfer. Vantage offers three live accounts, which is average compared to other brokers, and its accounts are suitable for both beginners and more experienced traders. However, we do not recommend picking a forex broker based on their financial incentives – this can encourage over-trading and excessive risk-taking. Other comparison factors, such as trust, safety, tools and fees are more important.

• The Raw account and Pro ECN offer attractive pricing, especially for experienced investors looking for ultra-tight spreads with low commissions from $3 per side.
• This also includes Vantage Markets (Pty) Ltd, which is regulated by the South African Financial Sector Conduct Authority (FSCA), license number 51268.
• It also doesn’t have the hefty deposit of DupliTrade, making it better for traders on a budget.
• The firm’s offshore entity also offers less in terms of regulatory scrutiny and account security.
• FxScouts helps traders across the globe by meticulously testing and reviewing online brokers and providing Forex education and market analysis.
• ForexBrokersOnline.com earns money from affiliation deals with our partners.

FxScouts’ Broker Score and Trust Rating constantly evolve to reflect the forex market’s dynamics. We ensure transparency by incorporating regulator data and user insights. Our in-depth reviews consider over 200 metrics across seven key categories. The radar chart to the left shows how important each category is when calculating a broker’s final score. Traders should be aware that as forex is a decentralised market, Vantage’s sentiment readings are of the Vantage book only. By reading this snapshot of the market, however, traders will get an idea of the average trader’s mindset and therefore take advantage of the supply/demand imbalances that may result.

Overall, Vantage’s CFD offering is limited to other brokers, which may leave more experienced traders dissatisfied.

Helpfully for Islamic investors, a swap-free trading solution is available. Additional account options include joint accounts, company trading accounts and trust trading accounts (either as individuals or as a partnership). There are also professional accounts with increased leverage, but fewer safeguards. As you can see from my comparison table below, Vantage stands up well against two of the most tightly regulated brokers in the industry, Pepperstone and AvaTrade. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time.

Popular Forex Guides

I can also have multiple charts open simultaneously, which is ideal for active traders. However, this is standard practice and Islamic accounts avoid this charge, though an admin fee is levied instead. For example, traders can earn V-points in the Vantage Rewards scheme which can be redeemed for cash, deposit rebate vouchers, lucky draws, profit boosters and more.

On the downside, our team do highlight that the VFSC is not a well-regarded regulator and the FSCA is not on the same level as the ASIC or FCA. Ultimately, this means Australian and UK clients will get the best regulatory coverage. Another promising sign of its legitimacy is the 900,000-strong client base.

Deposit Methods and Process

Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. Vantage offers a range of deposit and withdrawal methods, including bank wire transfer, local bank transfers, credit cards, and debit cards, Skrill, Neteller, BPay, Poli, and Unionpay transfers. Vantage’s forex trading fees are fairly low, but not the best in the industry. Clients can choose between an STP account with zero commissions and floating spreads from 1 pip or an ECN account with low spreads from 0.0 pips https://worldtradex.club/ and a $3 commission per lot per side. I also rate that this platform carefully checks its forex traders before allowing copy trades to be made.

Vantage Accounts and Trading Fees

Vantage provides a good selection of market analysis materials, but these are all curated by third-party providers. Vantage’s platform support is better than other similar brokers with support for MT4 and MT5 platforms in addition to the Vantage App. Vantage offers a limited range of base currencies compared to other similar brokers. Overall, Vantage’s account-opening process is fully digital and hassle-free and accounts are ready for trading within 24 hours. The account-opening and verification process at Vantage is seamless, fully digital and accounts are ready within 24 hours, which is about the industry average. Australian traders will be trading with Vantage Global Prime Pty Ltd, which is licenced and regulated by the Australian Securities and Investment Commission (ASIC).

By considering the needs of both novice and professional traders, we deliver well-rounded evaluations that highlight both the strengths and areas for improvement for each broker. At MarketBulls, our commitment to delivering accurate, reliable, and comprehensive reviews is at the core of everything we do. Our testing methodology is designed to provide traders with insights that are grounded in real-world https://worldtradex.world/ experience, thorough analysis, and a deep understanding of the financial markets. The best alternatives to Vantage include worldtradex, Plus500, Fusion Markets, and worldtradex.