Vantage Review 2023

  • 8.4

Vantage review summary

Vantage FX is a forex and CFD broker regulated by the Cayman Islands, Australian financial authorities and the Vanuatu Financial Services Commission. Vantage’s non-trading fees are very favorable (e.g. there is no inactivity fee). Opening an account at Vantage is a very rewarding experience as the process is super fast (less than 5 minutes) and fully digital. The broker offers a great variety of deposit and withdrawal options and most are free of charge. On the negative side, the product portfolio at Vantage is rather limited as the broker only offers forex and some CFDs to trade. Customer service could be better, especially the relevance of email responses. Lastly, Vantage provides investor protection only in the UK. BrokerChooser gave Vantage a 4.2/5 rating based on analyzing 500+ criteria and testing via opening a live account.

Vantage is a regulated broker, it is overseen by top-tier financial regulators in multiple countries . We at BrokerChooser always test brokers with real money, including the withdrawal process.

Vantage is available in Pakistan

Vantage pros and cons

Pros Cons
Low non-trading fees Limited product selection
Super fast account opening Customer service could be better
Seamless deposit and withdrawal Investor protection only in the UK

Vantage main highlights

🗺️ Country of regulation Vanuatu, but Vantage Group has regulation in Australia, UK, Cayman Islands
💰 Trading fees class Average
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $50
🕖 Time to open an account 1 day
💳 Deposit with bank card Available
👛 Depositing with electronic wallet Available
💱 Number of base currencies supported 8
🎮 Demo account provided Yes 74-89% of retail CFD accounts lose money
🛍️ Products offered Forex, CFD, Crypto
Our overall vantage-fx-review rating
  • 8.4

  • Fees
  • Account opening
  • Deposit and withdrawal
  • Web Trading platform
  • Mobile trading platform
  • Desktop trading platform
  • Markets and products
  • Research
  • Customer service
  • Education
Vantage review


Vantage has average forex trading fees and low non-trading fees, and does not charge an inactivity fee. On the negative side, financing rates and share CFD fees are relatively high.

Pros Cons
Low non-trading fees High stock CFD fees
No withdrawal fee
No inactivity fee
Vantage fees snapshot
AssetsFee levelFee terms
EURUSDAverageMetaTrader Raw ECN account: $3.00 commission per lot per trade plus spread cost. 0.1 pips is the average spread cost during peak trading hours.
GBPUSDLowMetaTrader Raw ECN account: $3.00 commission per lot per trade plus spread cost. 0.3 pips is the average spread cost during peak trading hours.
S&P 500 CFDAverageThe fees are built into the spread, 0.3 points is the average spread cost during peak trading hours.
Inactivity feeLowNo inactivity fee

How we ranked fees

We ranked Vantage’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let’s go over some some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of Vantage for each asset class. For example, in the case of forex and stock index trading the most important fees are spreads, commissions and financing rates.

We also compared Vantage’s fees with those of two similar brokers we selected, Fusion Markets and IC Markets. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Vantage alternatives.

To have a clear overview of Vantage, let’s start with its trading fees.

Vantage trading fees

Vantage trading fees are average. There are different cost structures for different account types. We tested the ‘Pro ECN with MetaTrader’ account, which charges a commission but offers tight spreads.

We know it’s hard to compare trading fees for forex brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We selected popular instruments in each asset class usually provided by forex brokers:

  • Stock index CFDs: SPX and EUSTX50
  • Stock CFDs: Apple and Vodafone

A typical trade means buying a leveraged product, holding it for one week and then selling. For the volume, we chose a $20,000 position for forex and a $2,000 position for stock index and stock CFD transactions. The leverage we used was:

  • 30:1 for forex
  • 20:1 for stock index CFDs
  • 5:1 for stock CFDs

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let’s see the verdict for Vantage fees.

Forex fees

Vantage forex fees are low, mostly similar to the fees charged by its main competitors.

Vantage forex benchmark fees of a $20,000 30:1 long position held for one week
 VantageFusion MarketsIC Markets
EURUSD benchmark fee $17.9 $12.3 $12.1
GBPUSD benchmark fee $9.6 $6.7 $6.1
AUDUSD benchmark fee $9.8 $5.2 $7.0
EURCHF benchmark fee $3.0 $2.3 $1.2
EURGBP benchmark fee $13.4 $11.4 $8.2


CFD fees

Vantage has mixed CFD trading fees. Stock index CFD fees are generally low, but stock CFD fees are quite high.

Vantage CFD fees for a $2,000 long position held for one week
 VantageFusion MarketsIC Markets
S&P 500 index CFD fee $3.5 $2.6 $2.4
Europe 50 index CFD fee $1.8 $1.3 $2.4
Apple CFD fee $14.6 $3.3 $1.8
Vodafone CFD fee $25.0 $6.0

Non-trading fees

Vantage has low non-trading fees. It charges no account, inactivity, or deposit fees.

There is no fee for credit/debit card and electronic wallet withdrawals. One international bank withdrawal per month is also free of charge, while all subsequent withdrawals are charged 20 currency units of your account ($20, €20, etc.).

Vantage non-trading fees
Vantage Fusion Markets IC Markets
Account fee No No No
Inactivity fee No No No
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0
Vantage review

Account opening

Opening an account at Vantage is super fast and fully digital. The brokerage delivers on its promise, as you can open an account in less than 5 minutes.

Pros Cons
Fast None
Fully digital
Low minimum deposit

74-89% of retail CFD accounts lose money

Vantage accepts customers from all over the world with some notable exceptions, like the US.

What is the minimum deposit at Vantage?

The required Vantage minimum deposit is $200 for an STP account and $500 for a RAW ECN account.

Account types

If you want to explore the possibilities offered by Vantage, we recommend opening a demo account. There are 3 main types of trading accounts at Vantage (STP, Raw ECN, Pro ECN), which differ in their pricing structure and the spreads provided. The key differences are shown in the following table. 

Vantage account types
 Standard STP Raw ECN Pro ECN 
Minimum deposit$50$50$10,000

In addition, you can also open swap-free or Islamic STP and ECN accounts. At swap-free accounts, if you hold your leveraged position overnight, instead of overnight interest you are charged an administrative fee.

You can open corporate accounts as well. In this case, Vantage’s support team will contact you with the required forms.

How to open your account

Opening an account at Vantage is an easy and fast process, the client interface is super user friendly. Follow these simple steps to open an account in under 5 minutes:

  1. Click on the ‘Live Account’ button.
  2. Enter your name, email address and phone number.
  3. Provide additional personal data required and answer a few questions on your financial status and trading experience.
  4. Select a trading platform, account type, and account base currency.
  5. Upload a copy of your photo ID or passport and proof of residence (utility bill or bank statement are accepted).

Vantage review – Account opening

Our best alternatives to Vantage are:

The highest ranking competitors are:

  1. Fusion Markets full review
  2. IC Markets full review
  3. Axi full review
  4. TMGM full review
Vantage review

Deposit and withdrawal

Vantage has a great variety of deposit and withdrawal options, which are fast, easy, and mostly free. However, fees are high if you use international bank withdrawal more than once a month.

Pros Cons
Credit/Debit card available High fee for international bank withdrawals (after the first free one each month)
No deposit fee
Quick deposit and withdrawal

Account base currencies

At Vantage, you can choose from 8 base currencies: USD, EUR, AUD, SGD, CAD, GBP, NZD, JPY.

Base currencies at Vantage vs similar brokers
 VantageFusion MarketsIC Markets
Number of base currencies 8 8 10

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These banks usually offer bank accounts in several currencies with favorable exchange rates as well as free or cheap international bank transfers. Opening a digital bank account only takes a few minutes on your phone.

Deposit fees and options

Vantage does not charge a deposit fee.

Although depositing is generally free of charge, there are some exceptions. When depositing funds via China Union Pay you will be charged 1.30%-2.50% of the transfer amount; deposits made via Neteller and Skrill are subject to their fee policy; and broker-to-broker transactions are subject to bank transfer fees.

Besides bank transfer and credit/debit cards, you can use the following electronic wallets:

  • Skrill
  • Neteller
  • Union Pay
  • Fasapay
  • Bitwallet
  • Cryptocurrency (Bitcoin, Tether)
  • BPAY
  • POLi
  • JCB
  • AstroPay
  • Vload
  • Perfect Money
Vantage deposit options
 VantageFusion MarketsIC Markets
Bank transferYesYesYes
Credit/debit cardYesYesYes
Electronic walletsYesYesYes

A bank transfer can take several business days, while payment with a credit/debit card is instant.

You can only deposit money from accounts that are in your name.

Vantage review – Deposit and withdrawal – Deposit

Vantage withdrawal fees and options

Vantage has no withdrawal fees for credit/debit cards and electronic wallets. The first international bank withdrawal each month is free of charge; all further withdrawals within the month carry a 20 currency unit fee ($20, €20, etc.). 

Vantage withdrawal fees and options
Vantage Fusion Markets IC Markets
Bank transfer Yes   Yes   Yes
Credit/debit card Yes   Yes Yes
Electronic wallets Yes    Yes Yes
Withdrawal fee $0 $0 $0

How long does it take to withdraw money from Vantage? We tested the debit card withdrawal and it took 1 business day.

You can only withdraw money to accounts in your name.

How do you withdraw money from Vantage?

  • Log in to the client portal.
  • Click on ‘Withdraw Funds’.
  • Select from the drop-down menu how you funded your trading account.
  • Enter the requested data (such as name, bank address and account number).
  • Enter the withdrawal amount.
  • Upload a copy of your bank statement (not older than 3 months).
  • Click ‘Submit’.
Vantage review

Web trading platform

Vantage’s web trading platform is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. However, it lacks a two-step login and its design is outdated.

Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation Poor design
Vantage platforms to choose from
Trading platformScoreAvailable

Vantage doesn’t have its own self-developed trading platform. It provides the MetaTrader 4 and MetaTrader 5 third-party trading platforms. We reviewed MetaTrader 4.

MetaTrader 4 is available in an exceptionally large number of languages.

Vantage web trading platform languages
Arabic Bulgarian Chinese Croatian Czech Danish
Dutch English Estonian Finnish French German
Greek Hebrew Hindi Hungarian Indonesian Italian
Japanese Korean Latvian Lithuanian Malay Mongolian
Persian Polish Portuguese Romanian Russian Serbian
Slovak Slovenian Spanish Swedish Tajik Thai
Traditional Chinese Turkish Ukrainian Uzbek Vietnamese  

Look and feel

The Vantage web trading platform has great customizability. You can easily change the size and position of tabs.

However, the platform feels outdated and some features are hard to find. For example, it took us a while to figure out how to add an asset to our watchlist.

Vantage review – Web trading platform

Login and security

Vantage provides only a one-step login. Two-step authentication would be more secure. 

Search functions

The platform’s search functions are OK. Assets are grouped into categories, but we missed the usual search box where you can enter asset names or other keywords manually.

Vantage review – Web trading platform – Search

Placing orders

You can use all the basic order types. However, you won’t find more sophisticated order types such as ‘one-cancels-the-other’. The following order types are available:

  • Market
  • Limit
  • Stop
  • Trailing stop (available only in the MT4 desktop platform)

To get a better understanding of these terms, read our overview of order types.

There are also order time limits you can use:

  • Good ’til canceled (GTC)
  • Good ’til time (GTT)

Vantage review – Web trading platform – Order panel

Alerts and notifications

You can’t set alerts and notifications on the Vantage web trading platform. 

Portfolio and fee reports

Vantage has clear portfolio and fee reports. You can easily find your profit-loss balance and the commissions you paid under the ‘History’ tab.

74-89% of retail CFD accounts lose money

Vantage review

Mobile trading platform

Vantage has a terrific, well-designed mobile trading platform that offers great functionalities and is visually appealing. However, it lacks face ID login, which could make it even more user-friendly.

Pros Cons
User-friendly No price alerts
Two-step (safer) login No Touch/Face ID login
Good search function

Vantage provides both its own mobile trading platform and the MetaTrader 4/5 third-party mobile trading platforms. Please note that MetaTrader iOS version is currently not available to download in the EU. In this review, we tested Vantage’s own mobile trading platform, which has great visual design and offers a wide variety of functionalities. 

The platform is available for both iOS and Android. We tested it on both.

Under ‘Settings’, you can select one of the following languages: English, French, Chinese and Thai.  Stock index-related analyses, a newsletter, and FX TV are also available under the ‘Signals’ menu item. 

Look and feel

We really liked the Vantage mobile app because it is user-friendly, uncomplicated, and designed with convenience in mind.



Vantage review – Mobile trading platform

Login and security

In contrast to the web or desktop trading platform, Vantage provides a two-step login for the mobile trading platform, which makes us feel more confident to use it. 

You can’t use fingerprint or Face ID authentication. Offering these features would make the login process more convenient.

Search functions

The search functions are good. You can search by navigating the category folders.



Vantage review – Mobile trading platform – Search

Placing orders

You can use the same order types as on Vantage’s web trading platform. 

Vantage review – Mobile trading platform – Order panel

Alerts and notifications

Alerts and notifications are not available on the Vantage mobile app.

74-89% of retail CFD accounts lose money

Vantage review

Desktop trading platform

In design and functionality, Vantage’s MetaTrader 4 desktop platform is almost the same as the web platform. One major difference is that you can set price alerts on it.

Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace)
Price alerts

Vantage offers MetaTrader 4 and MetaTrader 5 as desktop trading platforms. We reviewed MetaTrader 4 (MT4).

It has the same design, is available in the same languages, offers the same order types (plus Trailing stop), has the same search functions, and offers the same portfolio and fee reports, as the web trading platform.

The major difference is that you can set alerts and notifications on the desktop trading platform, in the form of mobile push and email notifications. To set email or mobile notifications, you must enter your email address and mobile MetaQuotes ID (you can find it in the settings of the MT4 app). You can add them under ‘Options’ in the ‘Tools’ menu.

Vantage review – Desktop trading platform

74-89% of retail CFD accounts lose money

Vantage review

Markets and products

At Vantage you can only trade forex and CFDs (commodities, stock indices, shares, cryptos). This means many popular asset classes, like real stocks or ETFs, are not available.

Vantage is primarily a forex broker with some CFD and cryptocurrency instruments. To learn more about CFDs, read our CFD trading tips.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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.

Vantage has an average forex selection, but its stock CFD offering lags behind that of its main competitors. Stock CFDs typically include the largest companies listed on the UK, US, European and Australian markets. In terms of cryptos, you can trade 34 products, like Bitcoin, Ethereum, Litecoin, Ripple, Neo, Terra and EOS.

Some stock CFDs are only available on the MetaTrader 5 platform. 

Vantage product selection
 VantageFusion MarketsIC Markets
Currency pairs (#) 45 85 61
Stock index CFDs (#) 17 18 25
Stock CFDs (#) 750 110 2,100
ETF CFDs (#) 51 40
Commodity CFDs (#) 20 25 22
Bond CFDs (#) 10
Cryptos (#) 34 14 23

We really liked that you can change the default leverage size of the products when trading. This is a great feature.

Changing the leverage is a very useful feature when you want to lower the risk of your trade. For example, instead of trading with 5:1 leverage, using 2:1 leverage in the case of stock CFDs would greatly reduce your risk. Be careful with forex and CFD trading, as the preset leverage levels are high. The leverage of US Share CFDs are 33:1 and the minimum lot size is 0.01.

Social trading, algo trading and strategies

Vantage has partnered up with multiple social trading platforms, through which you can access copy trading features, including ZuluTrade, Myfxbook, MetaTrader Signals and DupliTrade.

Vantage review


The Vantage client portal is well structured and easy to use, with convenient research tools. However, charting could be improved and most research tools are available only to clients with a $1,000+ account balance.

Pros Cons
Trading ideas Limited interactive charting
Data on asset fundamentals Most tools available only with $1,000 minimum account balance

Vantage’s research tools are available in different places:

  • The Client Portal is available under Pro Trader Tools. These are available only to customers with a minimum balance of $1,000 on their account.
  • The MetaTrader trading platform.
  • Smart Trader Tools can be downloaded from the webpage:
    • Alarm Manager
    • Correlation Matrix
    • Correlation Trader
    • Excel RTD Link

Trading ideas

Vantage provides many trading ideas. These are branded Analyst Views, and are categorized by asset classes and broken down into subcategories. Check out the ‘Featured Ideas’ section for additional tips and charts on major currency pairs and individual stocks. The technical analysis, located under Market Widgets, covers all asset types offered by Vantage.  

Vantage review – Research – Recommendations

Fundamental data

A limited set of macroeconomic fundamental data is available within the Economic Calendar. 

Vantage review – Research – Fundamental data


Vantage has OK charting tools. You can use 31 technical indicators and other editing tools, such as trendlines and Fibonacci retracement.

On the negative side, the design is outdated and some features are hard to use. For example, we had difficulty figuring out how to remove an indicator from the chart.

Vantage review – Research – Charting

News feed

The news feed, called Market Buzz, is a visually appealing interface that offers news analytics and sentiment indicators. Individual news stories, provided by third-party news sites such as ForexLive and, open on a new page, which is rather cumbersome. The news feed is also cluttered with Twitter messages. 

Vantage review – Research – News

Vantage review

Customer service

Vantage has several customer service channels and we found the live chat to be the fastest and most relevant. Emails are typically answered quickly, but are not always complete or relevant. Lastly, we missed 24/7 support.

Pros Cons
Live chat No 24/7 support
Relevant answers on the phone Mediocre email support

You can contact Vantage via:

  • live chat
  • phone
  • email

The live chat at Vantage is usually fast, except during peak business hours when queries tend to queue up. The relevance of the answers was OK, although some questions were not properly addressed.

Phone support response time at Vantage is OK, but at certain times it took several minutes to reach a customer service representative. Nevertheless, we received relevant answers and the staff was very helpful.

Customer emails are typically answered within a little more than a business day and this was where we missed relevant answers the most. Some questions were left unanswered, while in other cases the response was irrelevant.

We also missed 24/7 availability. You can contact Vantage from Monday to Friday, between 9 a.m. and 5 p.m.

Vantage review – Customer Service

74-89% of retail CFD accounts lose money

Vantage review


In addition to an unlimited demo account, Vantage offers webinars and great video tutorials on various assets and trading platforms.

Pros Cons
Demo account None
Trading platform tutorial
Educational videos

You can find Vantage education tools on their website, under the ‘Clients’ menu. At Vantage, you can learn in the following ways:

  • Demo account
  • Quality educational texts
  • Platform tutorial videos
  • General educational videos
  • Webinars

The unlimited MetaTrader 4 or MetaTrader 5 demo account is a great way to get up to speed with trading and become familiar with the trading platforms. 

Vantage clients have access to a wealth of video tutorials on basic trading concepts for various assets and more advanced technical and market analysis. If you choose to skip opening a demo account, trading platform tutorials are also available here. We loved the rich selection of lessons. 

Vantage review – Education

74-89% of retail CFD accounts lose money

Vantage review


Vantage is regulated by multiple authorities and offers negative balance protection to clients. However, investor protection only applies in the UK, and the broker is not listed.

Pros Cons
Negative balance protection Does not hold a banking license
Not listed on stock exchange
Investor protection only in the UK

Is Vantage regulated?

Yes, it is regulated by the Australian Securities and Investments Commission (ASIC) for Australian clients and by the Vanuatu Financial Services Commission (VFSC) for clients from other countries.

Vantage also has regulation by the UK’s Financial Conduct Authority (FCA), which offers client protection through the Financial Services Compensation Scheme (FSCS). FSCS protection is not dependent upon the depositor’s place of residence, but where the bank, building society or credit union holds the deposit.

Is Vantage safe?

When assessing the safety of a brokerage, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

Vantage is regulated by multiple authorities, but only clients with deposits at the UK entity enjoy investor protection.

Vantage investor protection
CountryProtection amountRegulatorLegal entity
AustraliaNo protectionAustralian Securities and Investment Commission (ASIC)Vantage Global Prime Pty Ltd
UK£85,000Financial Conduct Authority (FCA)Vantage Global Prime LLP
All other countriesNo protectionVanuatu Financial Services Commission (VFSC)Vantage Global Limited

Vantage provides negative balance protection. If the balance on your account goes into negative, you will be protected. You should note that if your provider is Vantage Global Limited (Vanuatu) it is at Vantage’s discretion whether they credit your account with the amount of the negative balance.


Australia-based Vantage was established in 2009. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

As a negative, the brokerage is not listed on a stock exchange, it does not disclose financial information and it is difficult to ascertain its ownership background. 

Vantage review

Bottom line

Vantage is a forex and CFD broker, regulated by the top-tier ASIC, the Australian regulator, as well as the UK’s FCA.

It offers average forex and low non-trading fees. The account opening and the deposit/withdrawal processes are seamless and most of them are free of charge.

On the other hand, the product offering at Vantage is limited to forex, CFDs and cryptos, and its customer service could use some improvement. Lastly, investor protection applies only in the UK.

Feel free to give Vantage a try, as you will have an account within a day and there is no inactivity fee.

74-89% of retail CFD accounts lose money

Vantage review


We recommend Vantage for forex and CFD traders familiar with the MetaTrader trading platforms.

Below you can find links to all aspects of Vantage in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our Vantage fees article.

What about the minimum deposit?

Our ultimate guide to the Vantage minimum deposit is updated regularly.

How to start your Vantage account?

Look no further than our evaluation of the Vantage account opening.

How’s their trading app?

Here’s our expert view after checking the Vantage trading app.

Is the quality of customer service satisfactory?

All you need to know about the Vantage customer service.

Legit or scam?

Is Vantage legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether Vantage is really free.

Is this broker good for beginners?

We checked it in Is Vantage good for beginners.

Should you buy your silver bullets on Vantage?

Research for silver bugs in the Silver buy on Vantage guide.

I want to trade options, are they available at Vantage?

We explored the topic in Can you trade options on Vantage?

What is the minimum account balance at Vantage?

Check out the current account balance requirements at Vantage in our What is the minimum account balance at Vantage article.

Looking for commission and fees data for Vantage?

We collected them in Vantage commission and fees.

How do you withdraw money from Vantage?

We tested it and collected the options and costs in How to withdraw money on Vantage.

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