Vantage online broker: Official Review, Pros and Cons 2024

21 December 2023

Summary:

  • Australian broker with no branches in Europe
  • Financial leverage up to 500x
  • Social trading
  • Demo account with virtual money offered

pros Pros:

  • Among the lowest commissions and spreads for online trading
  • Simple and fast online account opening
  • Very high leverage investment possibilities
  • Excellent educational offering

pros Cons:

  • Limited number of tradable assets
  • Offers only CFD trading
  4.8
Safety:
80/100
Fees and Costs:
80/100
Products and Markets:
91/100
Trading platform:
94/100
Tax regime:
70/100
Ease of use
65/100
Overall rating
95/100

Reviews and insights: online broker Vantage

Vantage is a popular Australian broker founded in 2009 and specialises in Forex and CFD trading. It is headquartered in Sydney and Cyprus with branches in the Cayman Islands and the Pacific Republic of Vanuatu.
More than a decade after its foundation, today Vantage is one of the most widely used online brokers worldwide and boasts some of the lowest spreads in the industry.

As you may have seen in other QualeBroker reviews, the maximum leverage that a broker under European law can offer is 1:30. Vantage, as it does not operate under the control of ESMA (the European supervisory body for financial markets), is able to offer very high leverage, up to a maximum of 1:500, which attracts many traders as it provides more flexibility in investments.

In this review, we will take an in-depth look at the services offered by the Australian broker, the financial instruments available for trading, the pros and cons of the trading platforms available to customers, customer service and more.

Is it worth using Vantage to trade online? Here are our insights.

Safety

Let us begin by analysing the transparency and reliability of the broker, surely the most important element in choosing the trading platform to use for one's investments.

Vantage Global Prime Pty Ltd is headquartered in Sydney, Australia, and is therefore a broker regulated by the Australian Securities and Investments Commission (ASIC), Australia's supervisory body for markets in financial instruments. 

The Australian body has a reputation as an extremely strict and transparent authority, in contrast to other regulatory bodies located outside Europe.
ASIC, in fact, guarantees the segregation of accounts, i.e. the separation of clients' funds from those of the broker, so that in the event of a trading platform going bankrupt, no creditor of the broker will have any recourse to the funds deposited by clients.
Furthermore, ASIC requires Australian brokers to deposit a minimum capital of AUD$ 1 million in order to obtain a licence. This allows the broker to secure adequate capital to meet its future commitments.

Ultimately, although Vantage is not a broker regulated by European legislation, its clients can still benefit from a satisfactory level of transparency as well as a safe environment for their trading activities.

In addition, Vantage has an office in the Cayman Islands, for which it is also regulated by the Cayman Islands Monetary Authority (CIMA), as well as an office in the Republic of Vanuatu, for which it operates under the further supervision of the Vanuatu Financial Services Commission (VFSC).

Vantage account

Vantage offers its customers the possibility of opening a live account (with real money) and a practice account (with virtual money). Both have a very similar registration procedure.
The practice account is a particularly useful tool for traders without significant investment experience, who can practise online trading without risking their own capital, but rather by using virtual money for simulated transactions.

It is possible to trade the account in nine different currencies: Dollar, Euro, British Pound Sterling, Canadian Dollar, Australian Dollar, New Zealand Dollar, Yen and Singapore Dollar.

Three account types are available for customers to start trading online:

  • RAW ECN account
  • STP Standard Account
  • ECN Pro Account

» RAW ECN Account

The RAW ECN account is introduced by Vantage as a 'state-of-the-art' trading account that guarantees the best trading solutions available in the Forex market as well as institutional-level liquidity. 

The broker will charge a small commission fee of $1 per standard lot.

An initial deposit of USD 500 is required for the RAW ECN account.

An initial deposit of USD 500 is required for the RAW ECN account.

» Standard STP Account

The STP Standard account also allows direct access to institutional-level spreads and liquidity, but this time there is no commission charged by the broker.

In addition, trades conducted through the STP Standard account are executed via the Equinix fibre-optic network, which guarantees maximum execution speed on every trade.

The minimum deposit to start trading with this account is $200.

» Professional Accounts

Finally, the Professional Account account guarantees the lowest spreads and commissions available.

With this type of account, spreads start at 0.0 and the commission charged by the broker is only USD 1 per standard lot.

The PRO ECN account also guarantees execution speed on every trade thanks to a bandwidth of 100 GB/s.

An initial deposit of USD 500 is required for the Professional Account.

» How to open a Vantage account

The procedure for opening a Vantage account is very simple, both for the Live and Demo account. Simply log on to the broker's website and follow the steps below:

  • Enter personal data or register via Facebook, Google+ or LinkedIn
  • Choose the type of platform to be used for trading (MetaTrader4 or MetaTrader5)
  • Choice of account type 
  • Selection of account base currency (Dollar, Euro, British Pound Sterling, Canadian Dollar, Australian Dollar, New Zealand Dollar, Yen and Singapore Dollar)
  • Selection of the leverage you wish to use: 1:100, 1:200, 1:300, 1:400, 1:500
  • Choice of the maximum account balance (options from $1,000 to $100,000)
  • Information on previous financial knowledge and experience
  • Confirmation of identity

» Deposits & Withdrawals

The platform presents a wide choice of deposit options, with a total of 14 deposit methods available to the customer, including: 

  • VISA credit/debit card 
  • Neteller 
  • Skrill
  • AstroPay

There are no fees for deposits, which are therefore always free of charge. The crediting of money to the account takes place within a timeframe that depends on the type of deposit method selected but usually takes about 1-2 working days.

With regard to withdrawals, on the other hand, most of the withdrawal methods available to the customer provide for both a minimum and a maximum withdrawal limit, which can range from a $15 minimum withdrawal to a $500,000 maximum withdrawal limit usually, respectively. 

Even in the case of withdrawals, Vantage does not charge any fees. However, withdrawals may involve the payment of a fee charged by the bank intermediary of reference.

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» What is the minimum deposit to open an account with Vantage?

Vantage requires a minimum deposit of only $200. This is a rather low figure compared to that required by most brokers.
With this minimum deposit, we can activate a real money account and test the platforms and services offered by Vantage.

Products and Markets

Vantage makes more than 300 tradable financial products available to clients. Here is the list of assets available for trading via CFDs:

  • 40 currency pairs
  • 13 Indices
  • CFDs on 100 US, European and Australian stocks
  • CFDs on "Soft Commodities"
  • Commodities related to the energy sector, such as oil, fuel, fuel oil, etc.
  • Precious Metals
  • Cryptocurrencies

» Financial leverage

Since Vantage is not a broker subject to European legislation, it does not have to offer a maximum leverage of 1:30. Therefore, the Australian broker has considerable flexibility in this respect.

The leverage on the Vantage platform is 1:100 but can go up to 1:500.

The client has full control over the leverage options available to him and, through his account, can at any time decide to change the leverage used for his trading activities.

It is worth remembering that leverage can be a double-edged sword in trading and increases your exposure to risk, so we recommend that you only use it if you are an experienced trader who can professionally manage that risk.

Fees and costs

Another fundamental consideration when assessing the cost-effectiveness of a broker is certainly that of trading commissions and the costs associated with the trading account.
Vantage can boast the application of very low spreads, set according to the type of account chosen by the client.

As far as commissions are concerned, they depend on the volume of lots (the range from 0.01 to 1 lot is considered here), as well as the currency chosen for transactions.

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Another advantage Vantage offers its customers over its competitors is the zero fees charged for a whole range of services, i.e:

  • Zero costs for deposits and withdrawals
  • Zero costs for using online trading platforms
  • Zero costs for account inactivity (yes: many brokers charge for the inactivity of the trading account after a certain period of inactivity)

As far as rollover costs are concerned, i.e. the possibility for the trader, against payment of a fee, to keep a position open beyond its expiry date, there is no fixed fee, but rather it is calculated on the basis of three different factors:

  • Difference between the closing price and opening price of the security
  • Contract size
  • Volume traded

Trading platform

Vantage offers a diverse basket of platforms for online trading, both desktop and mobile. Six different options are available to the clients:

  • MetaTrader 4
  • MetaTrader 5
  • WebTrader
  • ProTrader
  • Vantage App
  • Metaquotes App

MetaTrader 4 and MetaTrader 5

Versions 4 and 5 of MetaTrader have several benefits that clients can take advantage of to carry out their online trading activities.

Here are the advantages of these two platforms:

  • Desktop, WebTrader and mobile platform access
  • Customised chart creation
  • Minimum lot size of 0.01
  • Forex signals tab to follow orders from professional traders
  • Hedging and scalping option
  • News feed with major market news
  • Economic calendar

» Vantage mobile app

Available for both Android and iOS, Vantage offers its customers the use of a sophisticated mobile app to manage their trading activities directly from their smartphones. 

The app allows for the same operations as the desktop platform, i.e. trading over 300 financial products, comprehensive and detailed charts, trading signals, leverage up to 1:500, and so on.
In addition, there is also a news feed to stay up-to-date on the major news and events in the financial markets, as well as a daily financial analysis made available to all traders, both professional and 'new to the trade'.

» Social trading

An important competitive advantage that Vantage enjoys is the social trading option, for which it provides three trading platforms, that is:

  • ZuluTrade
  • MyFXBook Autotrade
  • DupliTrade

For those unfamiliar with this particular method of online trading, social trading involves, quite simply, copying the trades and strategies of other traders. Once we choose a trader to follow, each time he or she executes a trade, we can automatically replicate that trade in our account.

» Research & Analysis

Searching for a product to be traded on the Vantage platform is very simple, just access the bar at the top left where you can enter the name or symbol of the financial product you are looking for:

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In addition, it is possible to search for a product by accessing lists of tradable financial products, grouped by asset class:

» How to place an order

Placing an order is also simple and intuitive. On the platform's main screen, in fact, on the far right you will find the 'Order Panel' icon. Simply click on it and enter the required information, i.e. quantity of assets to be traded and type of order, and then confirm the transaction:

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As we can see from the screenshot, there are three types of conditional orders available on the platform:

  • Stop Orders
  • Limit Orders
  • Market Orders

Education 

Vantage provides an entire section dedicated to financial insights called "Pro Trader Video Tutorials", a collection of more than 130 video tutorials, thanks to which clients can deepen their knowledge of Forex and stock trading.

We believe that this rich gallery of content is particularly useful for novice traders, proving that the trading platform offered by Vantage is suitable not only for seasoned professionals, but also for novice traders.

Customer Support 

 

Vantage provides clients with three contact lines, namely:

  • 24/7 online live chat
  • E-mail support via This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Telephone support: +44 2080 363 883 

Our opinion of the customer support is positive, as the Vantage operators guarantee a response within 24 hours of sending the request, with feedback that is punctual and consistent with the problem highlighted.

In addition, there is a 'Help Centre' where the client can search for the type of problem to be solved and the relevant answers, as well as an email for those who do not yet have a trading account: This email address is being protected from spambots. You need JavaScript enabled to view it.. 

 

Final verdict

As we come to the end of this review, our verdict on Vantage is overall positive.

Vantage is a broker that can boast low commissions and spreads for online trading as well as very high leverage of up to 1:500.

We find the platform selection satisfactory: the client has the option of using Metatrader 4 and 5 as well as the mobile app available for both Android and iOS. In addition, the broker provides as many as three social trading platforms.

Equally positive is our opinion of the transparency guaranteed by the broker: Vantage is a regulated broker, subject to a serious, strict and rigorous supervisory authority (ASIC), which guarantees adequate protection for clients.

Last but not least, we particularly appreciated the rich selection of video tutorials for an informed introduction to the world of online trading.

For all these reasons, Vantage has a review on Trustpilot of 4.4/5 stars and 4.2/5 on Google.

What is the next step now?

Open an account with Vantage:

Author of the review:

Alfredo de Cristofaro
Founder
Laureato in Economia e Finanza, dopo aver lavorato a lungo presso uno dei principali broker finanziari in Europa, ha deciso di mettere a disposizione degli investitori le conoscenze maturate nel corso degli anni. Su QualeBroker.com si occupa di recensire i broker, assicurandosi che vengano garantiti i più alti standard di sicurezza e trasparenza.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.