Vantage FX is a trading name of Vantage Global Prime Pty Ltd, a company that is regulated by the Australian Securities and Investments Commission (ASIC) under license number 428901. There is another company called Vantage Global Prime LLP, which is authorised and regulated by the Financial Conduct Authority (FCA) under reference number 590299.
Clients can trade more than 180 instruments, which include 40 currency pairs, 13 indices, 20 commodities and 100 shares.
There are three basic accounts customers can open. The Standard account is intended for novice and requires a minimum deposit of USD200 and provides spreads from 1.4 pips, commission free trades and a Straight Through Processing (STP) model of order execution. The RAW ECN account is the most popular, the company claims. It is designed for experienced traders and requires USD500 to open. Spreads close to zero, there is a USD3 fee per lot and an ECN model of order execution. The PRO ECN account is created for professional traders and money managers who trade high volume. It requires USD20,000 to open and offers close to zero spreads. The commission is US2 per lot and orders are filled through an ECN model. Vantage FX also offers a swap-free account.
Clients can deal through the industry leading MT4 and MT5 platforms, available for their PC, Mac, iOS and Android devices. The MetaTrader 4 platform (MT4) is one of the most popular online forex trading terminals in the world. Furthermore, MetaQuotes has integrated all the features of the excellent MT4 terminal into the next generation trading platform – MetaTrader 5. The latest version of MT5 allows traders to hedge their positions. Vantage FX allows the leverage for the major currency pair to be up to 1:500. Keep in mind that the greater the leverage the greater the risk of heavy losses.
The service, which has gained popularity – ‘copy trading’ is also covered. Through the ZuluTrade social trading platform, Vantage FX customers gain access to the winning strategies of various professional traders. The deals of these investors will be mirrored to the client’s MT4 account. Another popular FX copy trade service – Myfxbook’s AutoTrade is also available.
Clients can feed their accounts using debit/credit cards, bank transfers and payment providers through electronic portfolios such as PayPal, Netller. Poli and Skrill.
The ‘Product Disclosure Statement’ document shows that Vantage Global Prime is a market maker, not a broker, and accordingly will always act as principal for its own benefit. That automatically leads to a conflict of interest. Under the ‘Terms and Conditions’ paragraph it is written that clients may lose more than the amount of funds in their account, or there is no negative balance protection and you may find that you owe this company money. Another text about the stop loss orders warns that they are not guaranteed, and their execution depends on the market volatility. This means that you may suffer more than expected loss.
A variety of educational tools, platform manuals, an economic calendar powered by MT5, a free access to MT4 trading signals and providing a free virtual private server VPS can be found under the Client section in the website.
We can conclude that Vantage FX is a well-regulated brokerage company. Although it offers STP and NDD services, Vantage FX acts as a market maker. In addition, two of the most popular platforms in the industry are available for trading – MT4 and MT5, but they don’t offer negative balance protection.