Vantage FX Review
For anyone who is interested in making a career in trading today, there are hundreds of options available. Every broker has its own take on how to make trading easy and what features to make available for the traders. Among the money options, you have Vantage FX. It is not the biggest or the most famous online broker for forex and CFDs trading, but it definitely has the features that can serve as a perfect starting point for any new trader. Through this Vantage FX review, you should be able to know a lot about the broker and decide for yourself if you should sign up with it or not.
Vantage FX – An Australian Online Broker
The first thing you have to know about this broker is that it is Australian. You would expect an Australian broker to have proper licensing and registration in Australia to conduct any trading activities. There is no worry here because Vantage FX has obtained proper registration from ASIC (Australian Securities and Investments Commission). It is also regulated by the same authority so you know that all the activities from this broker are transparent. You won’t find the big claims about the number of traders and countries the broker serves but there is a lot of emphasis on the values.
This broker wants you to know that it has a team of professionals who have been in the trading markets for several years. The company is not too old and was launched less than ten years ago in 2009. They are an award-winning company so you can expect only the best from them whether it is about the trading services, customer support or the platform of choice. Overall, the broker seems very promising and is not too over the top with its claims like many other brokers are.
The Trading Experience with Vantage FX
So, once you are clear on the regulation and safety part, you want to know how the trading experience will be. You should not worry about this particular issue as well because Vantage FX has thought of only the best for its traders. You get access to the MetaTrader 4 platform and the MetaTrader 5 platform. They are both famous around the world as the best platforms for any trading needs. The good thing is that you have access to both of them when you sign up with Vantage FX. It does not matter which device or operating system you use for trading, Vantage FX has brought MT4 and MT5 to you on Windows and Macs.
Regardless of the device you are on for trading, you have to download these software tools in order to use them. Once downloaded, you can find all the indicators and market tools on them. However, if you are not a fan of downloadable software applications, you can go for the web trader option from Vantage FX. The web trader platform, as you can tell from the name, is based on the website. You don’t have to download it on your device and you are able to use it wherever you are in the world. All you need to do to access the web trader platform is have a browser. That’s why, you can open it on any device from computers to smartphones.
The web trader platform is compatible with all the major browsers such as Chrome, Internet Explorer, Mozilla Firefox, Opera, and Safari. Furthermore, you have the mobile applications. Just like your computers, you should be able to access your trading account and the real-time market information on your mobile devices as well. That’s what the mobile applications have been designed for. Vantage FX does not disappoint when it comes to caring for its mobile traders. You have the applications designed for your iPhones and Android smartphones. Additionally, the application separately available for Android and Apple tablets as well.
Vantage FX also gives you the opportunity to do social trading. In this type of trading, you can follow in the footsteps of the experienced traders not only to minimize your risks but to learn new and effective strategies to execute profitable trades too.
The Tradable Assets Portfolio of Vantage FX
When you sign up with a broker, you want to know how vast its tradable assets portfolio is. You want to have as many options as possible so you can trade the assets that are easiest and most profitable for you. A large number of financial instruments are also helpful for experienced traders for diversifying their portfolios. Whether you are a new trader looking for options or an experienced trader who wants diversity in his/her portfolio, you will be happy to sign up with Vantage FX. First of all, if you want to trade forex, you can access more than 40 different currency pairs from around the world.
You can take advantage of spreads that are as small as 0 for some forex trades. In addition to the many forex pairs, you have indices as well. There are only 10 indices that you can trade with Vantage FX. However, these are the most liquid indices that can help you make some good profits on your trades quickly. Not to mention, these indices come from all around the world and not just Australia. In addition to Australia, you have indices from the UK, Spain, the US, Japan, etc. Only within the commodity section, you have three different asset classes that you can trade.
You have soft commodities, precious metals, and energies available for trading. If trading in energies interests you, there are currently seven of them available on Vantage FX for trading. In soft commodities, you can trade orange juice, cotton, coffee, cocoa, and sugar raw. The precious metals list is not that long but you have all the most famous metals available for trading. These metals include gold, silver, platinum, copper, and palladium. The most important section in the tradable assets is the CFDs on shares. In this section, you will find companies from around the world with some of the biggest tech companies such as Microsoft, Apple, Google, Amazon, Alibaba, etc.
One new section that has started to get a lot of attention lately is the cryptocurrencies section. Cryptocurrencies have become a huge market around the world today and it now makes sense for brokers to offer CFDs on these digital coins as well. There are six different cryptocurrencies available for trading which include the big names such as Litecoin, Bitcoin, and Ethereum. You can trade all of these currencies 24 hours during the working days.
Account Setup Requirements with Vantage FX
Once you are convinced that the broker has got enough assets for trading and the right platforms for the trader, you need to get into the account setup part. You have to look at how easy it is for you to set up your account and what the requirements will be. The best brokers out there make sure they keep things easy for new and old traders the same. There are three different types of accounts for you to choose from. The most basic is called the standard account and it happens to be an STP account. On the other hand, the other two accounts are ECN accounts.
All these accounts give you access to all the trading platforms on any device. According to the broker, standard account is meant for the newcomers in the trading world. There is no difference in the number of financial assets that you can access with any of the accounts. However, the minimum deposit that you need to open the standard account is only $200 whereas the same minimum deposit for the pro account is $20,000. The lot sizes are the same in all the accounts. The leverage available to you is 1:500 and remains the same in every account. However, leverage can be different based on the type of asset you want to trade.
Spreads is the area where the standard account holder has to suffer a little. The spreads in this account start from 1.4 whereas you can take advantage of 0 spread with the other two account types. However, you have a rebate available on your trades with the basic account, which something not available to you with raw and pro accounts. You can use eight different currencies to fund your standard and raw accounts. With the pro account, you can only fund it with any of the five different currencies i.e. CAD, EUR, AUD, GBP, and USD.
Due to some issues with interests, Muslim traders like to take advantage of a special type of account that’s called the Islamic account. Not all brokers offer this option but these traders definitely have this option available with Vantage FX.
Education for New Traders
No online broker service can be complete today without offering the necessary education to the traders. Thousands of people are starting their trading careers every day in the world. Before they can put their real money on the line, these people have to learn all about trading financial assets. Vantage FX offers education to these individuals in many different formats. There are manuals available for traders to learn how to use MT5 or MT4. In addition to that, you have some videos that can tell you everything about the MT4 platform.
Webinars option is also available for the traders of Vantage FX. You can participate in live webinars to see the experts talking about markets, financial assets, trading strategies, and everything that’s included within the trading category. So, starting as a new trader is not a problem if you sign up with Vantage FX.
Banking Convenience for Traders
As an online broker that cares about its customers, every broker has to ensure to deliver a safe, secure, and smooth banking experience to the traders. With Vantage FX, you get all the deposit and withdrawal options that will match your comfort level. If you like to you use your credit, you can use them. However, if you trust bank transfers more than credit card payments, you can use bank transfer option as well. You can use eight different currencies to fund your account when you use the credit card or bank transfer option. Online payment options are also available for their quickness.
You can fund your account by using Neteller, Skrill, Poli, and many other options that make money transfer quick and reliable. Other options available for transferring your money include broker to broker transfer and FasaPay.
Customer Service from Vantage FX
You will be impressed with how easy it is for you to get in touch with the company when there is a problem. The first option that you need to know about is the live chat. It is one of the quickest ways of getting your word to the company officials so they can get back to you as soon as possible. You have several phone numbers available on the website for different regions, so people don’t have to incur huge costs for calling the company’s customer support number. There are dedicated numbers available for Canada, UK, China, and Australia. You can send in your inquiries through an email as well if you want.
Customer service is available during the working hours and on week days only. With so many brokers providing 24-hour customer support for five days in a week, Vantage FX should work on that option as well. Any inquiries sent to the company are responded to within a day.
So, the important question is whether it is a good idea or not to sign up with Vantage FX if you are a new trader. In the light of the information above, you can easily tell that Vantage FX is one of the best options for any new traders. Yes, the broker can definitely work on a few things such as the customer support and the minimum deposit requirements. There are brokers that allow their traders to start an account with as little as $5. On the other hand, Vantage FX’s most basic option requires you to deposit at least $200. Other than this particular drawback, everything is great for new traders when they sign up with Vantage FX.