VantageFX – A Must-Read Exchange Brokerage Firm Assessment

 

VantageFX is a foreign exchange platform that primarily renders financial solutions for Australian traders. Vantage Global Prime Pty Ltd, the company behind the platform, debuted in the market back in 2009. It was initially named as MXT Global, until 2015 that it decided to rebrand itself as the name it is known for to date. 

The company takes pride in its international scope of service, with most of its clients coming from the land down under. Presently, its market visibility continues to gain traction for many reasons. First is its impressive selection of trading instruments, which allow its clients to expand their portfolio using diversified asset classes. It also is a popular platform as it is heavily lauded for its impressive customer assistance.  Lastly, it has established its name as one of the few brokers that practice account segregation. These, together with other salient features discussed below, helped VantageFX be a forerunner in the financial industry. 

VantageFX - A Must-Read Exchange Brokerage Firm Assessment

VantageFX Licensing and Regulation 

For interested parties in search of a secured trading platform, they might find VantageFX’s regulatory status compelling. The company holds multiple licenses from different financial authorities, which made it a reliable and legitimate broker. 

The Cayman Islands Monetary Authority (CIMA) monitors all the operations conducted by VantageFX. More so, the company is also filed under the Securities Investment Business Law (SIBL), which only adds to a thick layer of protection that clients will surely get upon subscription. In partnership with the National Bank of Australia, the implementation of fund segregation then helps clients secure their accounts from potential financial wipeouts and possible company bankruptcy. All these claims may be checked and reviewed in the company’s official site as its records are publicized for transparency. 

While VantageFX does not fall short in providing adequate security measures, it disappointingly opted out from providing an Investor Compensation Scheme for those clients living in the European Union. Generally, VantageFX may only be considered a decent broker in terms of security, but it obviously placed behind other established brokerage firms. 

VantageFX Account Selection 

VantageFX offers three account types in its selection. Note, however, that the Pro ECN account comes daunting for newbie traders as it requires a minimum funding of $20,000. Commonly, traders only go either the Standard STP account or the Raw ECN, which demand a minimum deposit of $200 and $500 respectively. 

While trading using the Standard STP account does not entail any commission, it only allows a minimum spread of 1.4 pips. As this will likely bring mounting charges, VantageFX enables clients to avail a rebate to negate high trading cost. The Raw ECN, on the other hand, grants spreads as low as 0.1 pips. This definitely appeals to traders more, and is very much reasonable for a $500 minimum deposit. 

There is some sort of uniformity among these accounts as they offer the same set of asset classes. Also, their leverage may be utilized up to a maximum of 1:500. And these may be converted into Islamic accounts for those traders compliant with the Sharia Law. 

Trading Platforms 

VantageFX has the full MT4 and MT5 platforms at its disposal. It provides access to complete MetaTrader systems, inclusive of desktop, web, and mobile versions. While MT5 houses technologically-forward tools, the MT4 remained to be the number one choice. More so, the inadequacy found in MT4 is reinforced by VantageFX’s plug-ins, making this platform the preferred choice of many. 

As for the management aspect, VantageFX supports the need for increased level of revenues through the MAM/PAMM accounts. With these, account managers are compensated according to their expertise and performance. Lastly, clients will surely enjoy the outsourced service of ZuluTrade, a social and copy trading platform that allows clients to check, review, and implement winning strategies of professional traders. 

 Customer Support 

This brokerage firm has 24/5 line of support, which includes telephone, email, and the most impressive of all, live chat. Even though VantageFX provides authoritative guides about trading fundamentals, it still has a highly responsive customer assistance ready to attend to customer complaints and queries. 

Conclusion 

True enough, VantageFX stands as one of the more popular brokers in the financial industry. It continuously sees an increase in subscription for many reasons. Its diversified asset selection, tight level of security, and wide choice of platforms come favorable, granting clients a competitive trading environment and an opportunity to expand their margin of profitability. 




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