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3.63
/ 5
Accepts South African Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. VantageFX is regulated by the FCA, ASIC, CIMA, & VFSC.TradeForexSA follows a strict editorial standard in our review process. We may receive compensation when you click on links to products we review. Please read our advertising disclosure.
Vantage FX will appeal to traders who value low trading costs and use indicators to make trading decisions. Be aware that Vantage FX’s financial instruments are somewhat limited compared to other similar brokers.
An STP/ECN broker, Vantage FX offers three accounts with minimum deposits linked to tighter spreads and lower trading costs. The commission-free Standard Account requires a minimum deposit of 200 USD but spreads start at 1.0 pip on the EUR/USD. Trading conditions improve significantly on its Raw ECN and Pro Accounts, which have 0 pip spreads and reasonable commissions, but minimum deposits of 500 USD and 20,000 USD, respectively.
CFD’s available at Vantage FX include Forex, indices, energies, metals, shares, and cryptocurrencies, but there are a limited number of assets per class which may leave more experienced traders dissatisfied. Vantage FX is great for trading platform choice though, with MT4, MT5, and the Vantage FX app in addition to three social trading platforms.
Yes, Vantage FX is a safe broker to trade with. It maintains regulation from some top-tier authorities, including ASIC of Australia and the FCA of the UK. It is also registered in the Cayman Islands and Vanuatu.
Founded in 2009 and headquartered in Sydney, Australia, Vantage FX is authorised and regulated by the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA), the Cayman Islands Monetary Authority (CIMA), and the Vanuatu Financial Service Commission (VFSC). Furthermore, every deposit is protected by either the Investor Compensation Fund or by the Financial Services Compensation Scheme in the UK. See the following list of Vantage FX registered companies:
South African traders will be trading under the subsidiary, Vantage global Limited, authorised by the Vanuatu Financial Services Commission (VFSC).
For all intents and purposes, the VFSC is not considered a forex broker regulator and applies no supervision of any CFD trading-related activities. Clients must rely solely on the reputation of Vantage FX, as no additional measures exist to ensure client protection. However, in a show of good faith, Vantage FX segregates all funds from the company’s operating capital at AA-rated Australian banks, and it offers negative balance protection to all its clients. However, as Vantage FX is not regulated by the FSCA, South Africans are not protected under any local investor protection schemes.
While South Africans may be apprehensive about trading under a subsidiary that is essentially unregulated, Vantage FX subsidiaries in Australia and the UK are also regulated by ASIC and the FCA, which are both top-tier authorities. Vantage FX also conducts regular audits and has professional indemnity insurance that covers its employees, representatives, and other authorized representatives, but does not participate in a compensation scheme.
Overall, because of its history of responsible behaviour, ASIC and FCA regulation, and the fact that Vantage FX is regularly audited, we consider Vantage FX a safe broker for South Africans to trade with.
Vantage FX’s trading fees are higher than average on its entry-level account but lower than average on its two ECN accounts.
Like most other brokers, Vantage FX offers three live accounts with increasing minimum deposits linked to tighter spreads and other account benefits. All three accounts are available on the MT4 and MT5 platforms (click here for more on Vantage FX’s trading platforms).
The Standard Account has trading costs included in its variable spreads, while the Raw and Pro account offers raw spread pricing in exchange for a commission per lot.
Vantage FX’s accounts were assessed to compare the costs to those of other forex brokers. The costs were evaluated based on the trading fees on one lot (100 000 USD) on the EUR/USD, including the spreads and commission.
When making this calculation, we used one lot of EUR/USD as a benchmark as it is the most commonly traded currency pair and it usually has the tightest spread.
Unfortunately, Vantage FX does not publish the average spreads associated with each account, so these calculations are based on the minimum spreads. Traders should be aware that spreads widen or tighten depending on trading volume and market volatility.
Trading Cost Formula: Spread x Trade Size + Commission = Cost in Secondary Currency (USD):
As you can see from the table above, the trading costs on the Raw and Pro accounts are lower than those on the Standard Account and lower than those of other brokers. Most other good brokers have an average trading cost of 9 USD per lot of EUR/USD traded.
Swap Fees
The other main trading cost to consider is the overnight swap fee. It is determined by the overnight interest rate differential between the two currencies involved in the pair and whether the position is a buy ‘long’ or sell ‘short’. Unfortunately, Vantage FX’s swap rates are not published on its website.
For the most up-to-date Forex swap rates, please refer to the Market Watch panel in the MetaTrader 4 (MT4) platform. Simply follow the steps outlined below:
Swap rates are calculated as follows:
Swap rate x Volume x Contract Size x Number of Nights
Overall, Vantage FX offers a good pricing environment and caters to traders of all experience levels. However, it does not publish its average spreads nor swap rates on its website.
Vantage FX’s non-trading fees are lower than other similar brokers.
Some of the most overlooked trading costs are the non-trading fees that are charged by brokers. These fees can significantly affect your profitability and so should be carefully scrutinised.
Unlike other brokers that charge fees for deposits, and on inactive accounts, Vantage FX does not generally charge any non-trading fees. However, a 25 USD fee is charged for withdrawals via bank wire transfer.
Overall, this is a welcome development in an industry where additional fees are charged on almost every transaction.
The account-opening and verification process at Vantage FX is seamless, fully digital and accounts are ready within 24 hours, which is about the industry average.
All South African residents are eligible to open an account at Vantage FX, as long as they meet the following minimum deposit requirements:
Vantage FX offers corporate and individual accounts. For the purposes of this review, we will outline the process for opening an individual account:
Overall, Vantage FX’s account-opening process is fully digital and hassle-free and accounts are ready for trading within 24 hours.
Vantage FX offers three live accounts, which is average compared to other brokers, and its accounts are suitable for both beginners and more experienced traders.
An ECN/STP broker, Vantage FX offers trading on Forex, indices, energies, metals, cryptocurrencies, and shares.
Vantage FX offers three live accounts with higher minimum deposits linked to tighter spreads on either the MT4 or MT5 platform (click here for more on Vantage Fx’s trading platforms).
Its Standard Account has a minimum deposit of 200 USD, making it accessible to beginner traders.
We define beginner traders as inexperienced traders who have never traded before or have been trading for less than a year. Beginners often do not want to risk trading large sums of money, and will generally not be able to trade full-time during the workweek.
In general, experienced traders tend to prefer accounts with higher minimum deposits and tighter spreads. Vantage FX’s Raw ECN and Pro ECN Accounts offer raw spread pricing and low commissions, but this is in exchange for minimum deposits of 500 USD and 20,000 USD respectively.
Vantage FX allows hedging, scalping, and copy trading, and the Standard and Raw accounts are available as Islamic swap-free accounts. Maximum leverage under the VFSC regulation for South African traders is up to 500:1 on major Forex pairs. See below for account details:
Standard STP Account
The Standard account is perfect for novice traders who want direct market access with no commissions. The minimum deposit on this STP account is 200 USD. Fees are included in the spreads, which start at 1.0 pips on the EUR/USD, and traders can access leverage of up to 500:1. These trading costs are average for the industry. Minimum transaction levels are at 0.01 lots.
Raw ECN
As the name implies, this is an ECN account, with no dealing desk. Raw ECN accounts are professional trading accounts with floating spreads starting at 0 pips on the EUR/USD. The minimum deposit is 500 USD, leverage is 500:1, and a commission of 3 USD is charged/lot per side (6 USD round turn). These trading costs are lower than those of other brokers.
Pro ECN
Pro ECN accounts are tailored for professional traders and money managers who trade in high volumes. The minimum deposit is 20,000 USD, leverage is up to 500:1, spreads are tight, starting at 0.0 pips, and a commission of 2 USD/ lot per side is charged (4 USD round turn). These are some of the lowest trading costs in the industry.
Islamic Swap-Free Accounts
The Vantage FX swap-free accounts are available for Forex traders who are unable to receive or pay swaps due to religious beliefs. Vantage FX Swap-Free Accounts incur no swaps or interest charges on overnight positions. Instead, the account holder is charged an administration fee on overnight positions which is deducted from the balance of the account.
The administration fee is made up of the fees imposed by its liquidity providers plus an internal processing fee (approx. 10%). Because the fee imposed by its liquidity providers is variable, admin fees also tend to vary. Apart from this difference, swap-free accounts have exactly the same trading conditions and associated terms as Vantage FX’s regular accounts.
Demo Account
Those afraid to risk real money on trading will be glad to learn that Vantage FX has introduced an unlimited MT4 demo account. Traders can test strategies and analyse data on over 300 instruments.
Vantage FX offers a wide range of payment methods, while and deposits are free, some withdrawal methods incur a fee. Additionally, processing times are average for the industry.
As a well-regulated broker, Vantage FX ensures that all Anti-Money Laundering rules and regulations are followed.
Vantage FX 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. However, these are not all available for South African clients.
Deposits for all payment methods are free, although clients will have to absorb the fees charged by their various banking institutions. All withdrawal requests are processed Monday to Friday, 9 am – 7 pm (AEST), within one business day. Clients can withdraw funds online by simply logging into the secure Vantage FX client portal and selecting the withdraw tab from the menu. Please see the following list of payment methods for further details:
Overall, Vantage FX offers a decent range of funding and withdrawal methods, which are generally free, and average processing times.
Vantage FX has a diverse range of active deals and promotions, including 50% credit bonuses, 15% withdraw bonuses, Trade-More-Return-More bonuses, Swap-free promotions, and ‘refer a friend’ bonuses. See the Vantage FX website for more details.
Vantage FX offers a wider range of base currencies compared to other similar brokers.
Vantage FX clients can choose between 9 base currencies, including AUD, USD, GBP, EUR, SGD, CAD, NZD, JPY, and HKD.
However, Vantage FX does not offer ZAR trading accounts, which is a disadvantage for South Africans who will likely have bank accounts denominated in ZAR, and who will have to pay currency conversion fees on deposits and withdrawals.
For traders that trade in large volumes (more than 10 lots a month), it is better to open an account denominated in USD at a digital currency bank, especially for trading on assets such as the EUR/USD. This is because when trading a USD quoted currency pair with another currency account, there will be a small conversion fee for every trade made.
Overall, Vantage FX offers more trading account currencies than most other large international brokers but it doesn’t offer accounts denominated in ZAR.
Vantage FX’s platform support is better than other similar brokers.
Vantage FX offers support for MT4 and MT5 platforms in addition to the Vantage FX App (but this will be covered in the mobile trading section).
MetaTrader 4
The MetaTrader 4 Platform (MT4) is the most popular online Forex trading terminal in the world. It has a straightforward interface, considered easy-to-use for both novice and experienced traders alike. It is also widely recognised for its fast execution speeds, range of charting tools, algorithmic trading, and customisability. MT4 is available in over 31 languages.
Other features of MT4 include:
While MT4 has great customizability, the platform feels outdated, and some of the features may be hard to find. In addition, only the basic orders are available, including Market, Limit, Stop, and Trailing Stop.
MetaTrader 5
MetaTrader 5 is the latest trading platform developed by MetaQuotes Software Corp. Set to replace MT4, MT5 is more intuitive and offers significant improvements in copy trading, mobile trading, and other innovative features that make trading account management more efficient. Other features of Mt5 include:
Overall, although Vantage FX only offers the Metatrader suite of platforms, which are not as beginner-friendly as the proprietary platforms offered at other brokers, it also offers its own proprietary mobile trading app.
Vantage FX’s mobile trading apps are excellent compared to other brokers.
All the trading platforms supported by Vantage FX are available as mobile and tablet downloads – allowing traders to keep track of their open positions while on the move.
MT4/MT5
Both MT4 and MT5 are available as mobile and tablet downloads on Android and iOS – allowing traders to keep track of their open positions while on the move.
The advantage of using the MetaTrader platform is the cross-device and multi-broker functionality, making it easier to change brokers or use multiple brokers.
Vantage FX’s MT4 and MT5 apps allow traders to work from anywhere, with nine timeframes and 30 indicators. However, traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options, but traders can close and modify existing orders, calculate profit and loss, and trade on the charts.
Vantage FX App
With a suite of technical indicators such as Moving Averages, Bollinger Bands, MACD, 9 timeframes, charting tools, and 10 timeframes, the Vantage FX App offers traders of all styles powerful yet simple technical charting. It is packed full of features such as order management, custom watch lists, trading signals by Trading Central, alerts, news calendars, and more.
Vantage Fx’s trading tools are excellent compared to other brokers.
Vantage FX offers a broad range of trading tools, including MT4/MT5 Smart Trader Tools, VPS hosting, sentiment indicators, PRO trader tools, and a number of social trading platforms – Zulutrade, Duplitrade, and MyfxBook.
MT4/MT5 Smart Trader Tools
The MT4/MT5 Smart Trader Tools consist of three additional MetaTrader plugins that dramatically improve the trading environment. The tools include an array of sophisticated alarms and messaging systems, and correlation tracking:
Forex VPS
Clients with a minimum balance of 1,000 USD will be able to opt into the Vantage FX free VPS promotion. Traders will be able to select their preferred VPS provider, send Vantage FX the receipt, and they will refund the account.
Vantage FX’s preferred VPS providers include Photon VPS, Next Point Host, Commerical Network Services, and Winner VPS.
VPS services ensure that trades are never disrupted by technological or connectivity issues, such as load-shedding or internet service failure, which is a benefit to algorithmic traders who need to be connected to a server 24/7 to maximise uptime. Other benefits of the VPS service include:
Sentiment Indicators
Vantage Fx’s sentiment page displays the overall long and short positions of the Vantage FX book. The sentiment ratio of long to short positions is represented as a percentage and displayed as a sliding scale where red represents clients’ shorts and blue represents their longs. Sentiment indicators are available for Forex, commodities, and indices.
Traders should be aware that as forex is a decentralised market, Vantage FX’s sentiment readings are of the Vantage FX 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.
Pro Trader Tools
Pro Trader tools are available to clients with a minimum balance of 1,000 USD. Pro Trader tools include various market news updates, trading ideas, an economic calendar, and various analyst views:
Vantage FX really shines with the number of social trading platforms available, however, these are affiliate partnerships.
Vantage FX offers three of the most popular platforms for social trading, including Zulutrade, Duplitrade, and Myfxbook Autotrade, but these are available through affiliate partnerships.
Zulutrade Social Trading Platform
Through the ZuluTrade social trading platform, Vantage FX clients will gain exclusive access to a vast pool of professional traders and profitable trading systems. ZuluTrade enables users to locate successful traders that are ranked by ZuluRank, a proprietary performance evaluation algorithm, and follow their trades which are translated into real trades in their own trading accounts. Note that traders will have to contact Zulutrade directly to find out about the costs of using the platform.
Duplitrade
Vantage FX clients can diversify their portfolio by duplicating the trades of proprietary traders. When traders connect to DupliTrade, they gain access to a portfolio of hand-picked proprietary traders. Then, you simply choose the traders you want to copy based on their performance, strategy, and trading style, and their trades will be duplicated on your Vantage FX MT4 or MT5 account. Note that traders have to have a minimum account balance of 2000 USD in order to access Duplitrade.
MyFxbook Autotrade
Myfxbook Autotrade is one of the most popular copy trading platforms on the market. The AutoTrade service is an online FX trade copying platform with over 90,000 FOREX traders. This service allows you to copy the trades of any system you select directly into your Vantage FX MetaTrader 4 account.
One of the benefits of using the Myfxbook Autotrade copy trading platform is its functionality. It offers multiple copy trading modes and there is no limit on the number of Strategy Providers that can be followed.
On the whole, copy trading or social trading is useful for traders who are interested in the financial markets but lack the experience and knowledge.
Vantage FX offers a slightly limited range of financial instruments compared to other similar brokers.
Vantage FX’s range of financial instruments for CFD trading (click here for more details on CFD trading), includes Forex, share CFDs, commodities (energies, metals, and softs), indices, and cryptocurrencies:
Share CFDs: Vantage FX offers 226 share CFDs, which is slightly limited compared to other large international brokers. The selection available includes some of the major US, UK, European, and Australian Exchanges.
Indices: There are 15 indices available for trading at Vantage FX, which is around the average available at other similar brokers. The most popular indices are those that combine the shares of some of the largest and globally acknowledged companies.
Energies: Vantage FX offers trading on 6 commodities, which is average compared to other similar brokers. Energies include oil, natural gas, gasoline, gas oil, and oil cash.
Metals: Vantage FX offers trading on 5 metals, although these include silver and gold with USD and AUD crosses. It also offers trading on copper.
Soft commodities: Vantage FX offers trading on 5 soft commodities, including orange juice, cocoa, coffee, cotton, and sugar.
Cryptocurrencies: At the time of writing, there are 6 crypto pairs available, including Bitcoin and Ethereum, among others, which is slightly limited compared to other brokers. Traders should be aware that the spreads vary significantly compared to other traditional Fiat currencies, so if you trade on these assets, watch your margins.
Overall, Vantage FX’s CFD offering is limited to other brokers, which may leave more experienced traders dissatisfied.
Overall, Vantage FX offers a decent range of educational or market analysis materials for new traders. However, to access the Pro Trader Tools powered by Trading Central, a deposit of 1,000 USD is required. It also offers a free unlimited MT4 demo account, and customer service support is available 24/5 for all client-related and technical queries.
Vantage Fx’s educational materials are comprehensive and well-presented, but not as good as the best Forex brokers in this space.
For those without a Pro Trader account, beginner traders can access a series of articles and videos explaining Forex trading basics, a market overview, market analysis, trading psychology, and various MetaTrader platform tutorials. Vantage FX also provides a library of over 130 videos as part of its Pro Trader videos. Content ranges from short introductory clips for beginners to longer advanced concepts across forex and CFD trading across various markets. Again, one has to make an initial deposit of 1,000 USD to gain access to this material.
Vantage FX provides a good selection of market analysis materials, but these are all curated by third-party providers.
Vantage FX provides research primarily from third-party content providers such as Trading Central. The broker also has some basic features, such as an economic calendar and client sentiment data. Still, Vantage FX lacks a variety of in-house content besides its daily videos, compared to other forex brokers.
Vantage FX offers support in ten different languages, including Italian, French, Hindi, Malaysian, Chinese, Mandarin, Spanish, English, Cantonese, Mandarin. Help is available 24/5 via telephone (but only via a UK telephone number), email, Telegram, and live chat.
For the purposes of this review, we found customer support via live chat extremely responsive and polite. They were also able to answer all of our questions satisfactorily.
We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Vantage FX offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.
Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Vantage FX would like you to know that: Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.
Overall, Vantage FX is a trustworthy STP/ECN broker, but with a limited range of financial instruments compared to other similar brokers. It offers support for the most common trading platforms and has decent trading conditions on all of its accounts. Most notable are its two ECN accounts that offer raw spread pricing in exchange for a reasonable commission. Its education and market analysis sections are somewhat limited, but it offers excellent customer support and a free unlimited MT4 demo account.
Accepts South African Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. VantageFX is regulated by the FCA, ASIC, CIMA, & VFSC.
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