Founded in Australia in 2009 and regulated by two internationally recognized institutions (both tier 1), Vantage offers you a reliable brokerage to trade CFDs on forex, commodities, indices, shares, and some cryptocurrencies. It offers good customizability on its web platform and also a mobile app that is somewhat secure and relatively easy-to-use.
There are a wide range of features on offer to you, like its platform add-ons, demo platform, and copy trading. Here are some more details about the tools at your disposal:
Two alternative metatraders (M4 and M5), with the latter enabling automated trading.
A virtual demo platform for a trial period. Here you can interface with its platform before spending any of your own money and get a feel for how it operates.
The social trading platform will allow you to follow the trading patterns of other traders and execute them similarly if you so desire.
Provides chart indicators, drawing tools, and trade-from-chart features to help users make more informed trading decisions
100% margin and 1:1 leverage on trades
Live chat function
Six 3rd party deposit options
Nine base currencies, which allow zero commissions upon deposit
|💼 Provider Type:||Broker|
|💸 Minimum Deposit:||$200|
|💰 Trading Fees:||Varied|
|💰 Deposit Fees:||None|
|💰 Withdrawal Fees:||None|
|💰 Management Fees:||None|
|🔀 Minimum trade order||Varied|
|⌛ Withdrawal Timeframe:||24 Hours|
|#️⃣ Number of Cryptocurrencies Supported:||17|
|#️⃣ Number of Crypto Pairs Supported:||44|
|💱 Top supported Cryptocurrencies:||BTC, BCH, ADA, DOGE, EOS|
|📱 Native Mobile App:||Yes|
|🖥️ Free Demo Account:||Yes|
|🎧 Customer Support:||Email, Live chat, Phone|
|✅ Verification required:||KYC|
|📈 CFD Available||Yes|
|📊 Software:||Website, web app, mobile app|
|⚽ Social Trading:||Yes|
|✂️ Copy Trading:||Yes|
|👮♂️ Regulators||The Australian Securities and Investments Commission (ASIC), The Vanuatu Financial Services Commission (VFSC)|
Pros and Cons of Using Vantage
Overall, Vantage offers a good range of ways in which to trade CFDs and has relatively low trading fees, but this comes at the expense of a good range of available products and limited customer service for its users.
Vantage Cryptocurrencies and Trading Options
What Cryptocurrencies Can You Trade on Vantage?
Currently, you can only trade one cryptocurrency on Vantage: Bitcoin. It is important to note that because Vantage is a broker, it offers CFDs. Essentially, this means you will not actually own the asset/coin itself, but instead a contract with Vantage that guarantees gains when the price rises and loses if it drops. This also means there is more flexibility with how you trade this asset, in contrast with an exchange. Here traditional buy/hold strategies may not apply, as you are given the option to trade trends rather than the asset itself. Put simply, Vantage offers a narrow market, but with a slightly wider choice on that market.
Different Trading Options Offered by Vantage
The only way in which you can trade Bitcoin is via CFDs. This is a general theme for all assets offered on the platform; it is largely a forex broker with some CFD options. One of the major drawbacks of Vantage is its lack of available products, with no EFTs, real stocks, and other popular asset classes.
What Are CFDs?
CFD stands for Contracts For Difference. CFDs are only offered by brokers; essentially when you buy an asset, you are actually purchasing a contract with the brokerage itself that guarantees a return if the asset value increases and a loss if the asset value decreases.
They are available for forex, commodities, stocks and indices.
Can I Trade With Leverage on Vantage?
For forex and other CFDs, Vantage has very good flexibility; you are able to change the leverage for different products, giving you good flexibility. For example, with forex and CDFs, you can enjoy up to 500:1 leverage.
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.
What Are the Spreads?
The spreads on Vantage will depend upon which account you use. There are three relevant types here you should look at:
Standard STP: 1.4 pips (The highest spread costs, but there is an Active Trader Rebate available here for deposits of over $10,000)
Raw ECN: 0
Pro ECN: 0
To give some comparison, these spreads are relatively competitive for the industry. Usually it’s common for brokers to charge higher spreads as a means of generating income, but Vantage offers the possibility to achieve very low rates. All three accounts can be first trialled using the Vantage demo platform; we recommend this.
Fees, Limits, and Payment Options on Vantage
What Are the Deposit and Withdrawal Fees, Limits, and Speeds?
Generally, deposits and withdrawals are straightforward and relatively fast on Vantage. However, there are certainly fewer options available than some of its industry competitors. There are zero fees for both deposits and withdrawals, which is an undeniable strength of the platform.
The available methods for depositing funds on Vantage are:
Bank transfer (bank fees may apply)
Skrill (subject to their own charges)
Neteller (subject to their own charges)
Union Pay (fee of 1.30%-2.50%)
Wire transfers can take up to 3 days, and bank transfers are instant/take a few hours.
It is worth noting that depositing funds is not the most user-friendly experience.
Minimum deposit is $200 and is much higher than its competitors.
The available methods are the same as for deposits. There are also zero withdrawal fees.However it’s important to note that for international bank withdrawal, only the first time is free, and after that you pay $20. You get one free international bank withdrawal per month. The process to withdraw your money will take 1-2 business days, and this is as competitive as a broker could aim to be.
How Much Are Vantage’s Fees and Commissions?
When calculating the fees you will incur using Vantage, it’s crucial to know what account you are going to be using, as this will determine the rate you pay. There is a mix between low commission accounts with higher spreads and slightly higher commission accounts with better spreads but for heavier traders.
Check out the specific rates below:
Standard STP: This account features zero commissions, but has the highest spreads (1.1 pips); on the other hand the standard account offers rebates of $8 per standard lot.
Raw ECN: Spreads here are more favorable (0.08 pips), but incur a commission of $3 per side (totalling 0.68 pips).
Pro ECN: The cheapest option; commission fees are $2 per side, and those that can deposit $20,000 or more will get the best rates. The Pro ECN is also competitive with many others in the industry.
Additionally, there are zero non-trading fees, which is a great feature for a broker (usually discouraging traders to hold assets for longer periods of time). In terms of cryptocurrency, the CFD trading stocks are average-high when compared to its market competitors. All deposits and withdrawals are free, but with some exceptions (details above).
Vantage Trade Sizes and Limits
Trade sizes can vary depending on a range of factors, so it’s important to check depending on what asset you trade and on which account. Generally, minimum trades are of 0.01 lot. Vantage calls these micro-lots, but in reality could still be quite a large value for smaller traders. You are able to execute a maximum trade of 20,000 lot.
For example: If Bitcoin is valued at $50,000, then the minimum trade would be $500, and the maximum would be $1,000,000.
Vantage Trading Platform
What Devices Can I Use Vantage On?
You can access Vantage in three different ways: their desktop platform; their web platform; and the mobile app.
Desktop platform: Very similar to the web trader, the desktop trader allows good customizability, price alerts, and fee reports. You can trade all of Vantage’s market products here and have access to the Metatrader 4.
Web trading platform: This option offers good customizability, clear fee reports, and available in a range of different languages. However, the layout is often criticized and dubbed as outdated. In addition to this, it cannot facilitate price alerts and does not have a two-step secure login for users.
Mobile phone application: The mobile app can be downloaded from the app store for free. It enables users to trade, stake, withdraw, and perform all functions found on the other two platforms. Known for its visually-appealing layout and user-friendly design, these features set it apart from the web/desktop platforms. The app includes two-step secure login but no touch/face-ID.
Can I Use Vantage in Any Country?
The coverage of Vantage is average. Its four main countries are: Australia, The United Kingdom, Germany, and France.
It does not accept clients from: The United States, Canada, China, Japan, Singapore, Spain, and many more.
Is Vantage Available in My Language?
The available languages depend on what platform you use. For example, the mobile app only features: English, French, Chinese, and Thai. In contrast, the web trader features over 40 languages, including Arabic, Spanish, Russian, and Korean.
How Easy Is It to Use Vantage?
The ease of use will depend on which platform you use. The web trader is described as easy-to-use and well laid out, but on the other hand its design seems outdated, which can affect user interface. With so many modern and slick trading platforms on the market, this one lags behind.
The mobile trader is certainly best described as easy-to-use. It’s designed to be convenient and accessible to beginners. This convenience is also very important for the platform, as Vantage generally is for more experienced traders, so this aids in making it more available to those just beginning. There are also good video tutorials to help you understand specific trading processes, and they are found throughout the mobile app, desktop trader, and web platform.
As a broker for more experienced traders, Vantage provides good features to help those that need support when opening an account, featuring copy traders, demo accounts, video tutorials, and many charting tools.
For a trial period users can download the desktop platform or trade on the web trader as a simulation. This offers valuable time to understand the platform and get to grips with the interface before putting in any of your money.
There are four alternative platforms available for social copy trading that Vantage have partnered up with, including ZuluTrade, DupliTrade, MetaTrader Signals and Myfxbook.
There is a good range of charting tools available to users like indicators, drawing tools, and trade form charting.
Security and Regulation
Is Vantage Safe?
The security of Vantage depends on what platform you use for certain features. For example two-step secure login appears on the app but not the web trader. Overall, the security of this platform is described as above average; it is well regulated and has some form of financial insurance, but it is not a listed brokerage on the stock exchange.
Am I and My Cryptocurrency Protected?
Only users within the UK enjoy investment protection.
Is Vantage Regulated?
Yes. It is regulated by:
The Australian Securities and Investments Commission (ASIC) for those users based in Australia.
The Vanuatu Financial Services Commission (VFSC) for those based everywhere else.
Do I Have to Verify My Account With Vantage?
Yes. You will need to verify your identity using an ID or passport and a proof-of-address.
The resources available to you here are mainly tutorial based. There is certainly a lack of educational articles, and it is below-par when compared to its industry competitors.
Some of the features available are:
Trading platform tutorials
Platform tutorial videos
Tools and Charting
There are a good range of charting tools such as:
Multiple time frames
There are also alerts and watchlists.
Customer support on Vantage is average, while it has a live chat it’s not 24/7 and can be unreliable. Here are the features offered:
Live chat (not 24/7)
Poor email support
Contact time is Monday to Friday (9am-5pm)
How to Open an Account With Vantage
Step 1 - Sign up
Visit the official website or download the app and create an account by inputting all of your personal information. Similarly, you may use its demo platform.
Step 2 - Verify your identity
Provide ID and proof-of-address to begin authenticating your account.
Step 3 - Start trading
Once verified, deposit funds using one of the methods suggested and begin trading.
Is there an alternative to crypto brokers?
Yes, there are many more ways to trade cryptocurrencies such as using cryptocurrency robots. Check out some of our reviews for the best trading robots:
Is there an alternative to Vantage?
CFD brokers are usually for the more experienced trader. Vantage is really no exception here. It is categorized by high risk, and offers a good range of tools, but low product options. It is also unavailable in a host of countries like the US, Canada, and China.
There is a good breadth of choice, however, with Vantage. It has three different accounts, three different platforms for you to trade on, and a range of different trading instruments and features. Vantage is known primarily as a forex trader, and it really is suited for this and CFD trading.
In terms of cryptocurrency trading, Vantage demands a high minimum trading size (due to Bitcoin’s value and its 0.01 lot policy), and does not offer you the physical purchasing of coins. CFDs are highly risky and should be treated with extreme caution, especially with volatile assets like Bitcoin. Overall, Vantage is a platform for experienced traders that want to trade primarily forex and CFDs.