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VantageFX.com Review Visit site

Updated: Aug 14, 2018
3.37 · 136 REVIEWS
Is this your company?
An IB of VantageFx had some affiliate commissions denied.  He posted about this at the FPA.  He then reported that VantageFx demanded he remove his complaint in exchange for payment.  The FPA invited VantageFx to the discussion thread.  Their representative made one post which did not address the issue of attempting to blackmail their IB into removing his material from the FPA.  CLICK HERE to follow the discussion.

May 2017: Despite being warned over a year ago, VantageFx appears to still be allowing Reza Mokhtarian to serve as an IB to the company.  The FPA is very disappointed that VantageFx seems to be unconcerned about working with an accused criminal who has also been the subject of regulator warnings. 

June-July 2013: Multiple suspicious and fake positive reviews submitted.

Related websites include VantageFX.co.uk.

2010-09-19: Vantage FX became a Corporate Authorised Representative of Enfinium Pty Ltd AFSL 322081

Formerly a WL for GoMarkets

ATTENTION:  VantageFx.com is a forex broker.  There is an unrelated company offering signals services at Vantage-Fx.com.  You can read and submit reviews for the signals service company here.

VantageFX is a forex broker. Vantage FX offers the MT4 and MT5 trading currency platforms. VantageFX.com offers over 40 currency pairs, cryptocurrencies including bitcoin, indices, gold, silver, commodities and cfds for your personal investment and trading options.

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3.37 · 136 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Madurai, India,
Jul 22, 2018,
Guest

Speedy deposits, quick withdrawal, low spreàds and great services. Highly recommend vfx!
Coimbatore, India,
Jul 14, 2018,
Guest

I've been with Vantage FX for the past three years and have multiple accounts. Personally, i've never had any problems and any questions or concerns i'vehad in the past have been promptly addressed by my account manager, Daniel.
Madurai, India,
Jun 28, 2018,
Guest

local broker with Australian-based support

It means a lot to have a local broker with Australian-based support. I always receive prompt service which is important. Product is as expected, fast execution and low spreads. Keep it up Vantage FX!
South Africa,
Jun 21, 2018,
Guest

Vintage is a s*** broker i applied 2 times they kept telling me the same s*** ....Please send us your document not in a PDF format !! im like ok let me send again my document in a format they said i should send in!! Again they took days to respond nd when they responded they ask me for the same documents again f*** this s*** i have never experienced applying with a broker like i did with Vintage ..to anyone who wants a broker pass vintage
Reply by Vantage FX submitted Jun 25, 2018:
Hi Archie,
We are sorry to hear about the trouble you are having getting your live account up and running.

We are more than happy to chat in further detail about what is required to get your account set up as soon as possible. I am sure it is just a small update to your documentation that is required.

Due to our compliance and regulatory processes, sometimes we require additional information in order to verify a client’s identification, and these requirements can be slightly more specific for international applicants. Often, these issues are easily fixed and just require a little further clarity.

To help us take care of this for you promptly, please contact accounts@vantagefx.com and we will help you through all the necessary steps to get your live account set up.

We look forward to hearing from you.

Kind Regards,
Vantage FX.
Australia,
Jun 5, 2018,
Registered user

fast withdraw

My withdraw settled the next business day,
I like the bonus which rebates to balance.

5 stars this time

Jun 2, 2018 - No Rating legit broker, positive & negative slippage rate better than I expected.
testing 500 bucks fees waived,
will test withdraw shortly,
let's how it goes
Yangon, Myanmar,
May 30, 2018,
Registered user

Grossly Unprofessional

Hello Vantage FX Representative,

Your response is complete nonsense. As you are well aware, AUSTRAC simply polices money laundering activities in Australia; it does not in any way, shape, or form prohibit Australian companies (including financial services companies) from doing business with people or entities in Myanmar (or any other country for that matter).

Your failure to provide a link to AUSTRAC's (or any other Australian Government) website to support your view is a glaring omission, which speaks for itself.

The list of sanctioned countries for Australia is contained on DFAT's website (DFAT = Department of Foreign Affairs & Trade). As per the link below, the only sanctions currently in place re Myanmar concern the arms industry, which is clearly irrelevant to the current situation:

http://dfat.gov.au/international-relations/security/sanctions/sanctions-regimes/Pages/myanmar.aspx

The above link confirms the Australian Government withdrew all financial sanctions against Myanmar in July 2012.

Indeed, not only does the Australian Government NOT have sanctions (other than the arms industry) against Myanmar, but through Austrade, has an office in Myanmar for the express of purpose of promoting Australian companies seeking to export goods/services to Myanmar:

https://www.austrade.gov.au/contact/offices/myanmar

And just for good measure, ANZ (like Austrade), one of the largest banks in Australia, has a physical presence in Myanmar, confirming that Australian companies can (and do) provide financial services to Myanmar:

https://www.anz.com/myanmar/en/about-us/our-company/anz-myanmar/

The above links make a complete mockery of your claim that you are unable to offer services to people based in Myanmar.

ALL OF THE ABOVE LINKS WERE PREVIOUSLY PROVIDED TO YOU IN OUR EXTENSIVE EMAIL EXCHANGE; HENCE, YOUR ONGOING INSISTENCE THAT YOU ARE IN THE RIGHT SHOWS BOTH STUBBORNESS AND DISHONESTY OF THE HIGHEST ORDER.

Your claim that I was rude/aggressive/used bad language to your customer service officer is as devoid of merit as your claim you are unable to offer services in Myanmar. In fact, I was polite and professional in my chat, although became frustrated at Tien's insistence he was right after I provided him with clear evidence to the contrary. You fail to provide a single example of my alleged rudeness/bad language. It is all too easy to invent allegations of this nature while not providing a shred of evidence.

Finally, despite my only "crime" being to draw your attention to relevant Australian Government websites confirming your policy re Myanmar is entirely incorrect, you threatened to complain to my employer for my (supposed) poor behaviour. It was only when I threatened to report you to ASIC that you backed away from this threat.

While my initial review was titled "Grossly Unprofessional", your subsequent conduct shows your (complete lack of) professionalism to be far worse than I originally thought.

Learn to accept constructive feedback and accept when you are wrong.

Apr 24, 2018 - 1 Star I was a regular client of Vantage several years ago. Previously, I found them excellent to deal with. I only stopped trading with them due to their limited product range at the time. As they have now expanded their product range, I thought I would reactivate my account and start trading through them again.

I recently had an online chat conversation with their customer service officer Tien in relation to this.

Although I am an Australian citizen, upon learning I am based in Myanmar, he advised that Vantage is unable to accept me as a client due to DFAT (Australian Government) sanctions. I checked the DFAT website and note that only the arms trade is subject to sanctions.

When I pointed this out to him, he cited ASIC and AUSTRAC. I pointed out to him that this was complete rubbish. He then trotted out AML/CTF.

I pointed out that this is complete nonsense too; AML/CTF prescribe general principles, they don't (of themselves) prohibit doing business with given countries.

Despite calling his bluff, he continued to repeat one stupid comment after another. For the record, I am a banker/lawyer and am very familiar with KYC/AML/CTF, sanctions etc etc.

He obviously has very limited knowledge, who parrots standard lines like a broken record in an attempt to bluff people with even less knowledge than him.

In fact, ANZ, one of the biggest Australian banks, has an office in Myanmar, affording complete proof that Australian companies most certainly can (and do) provide financial services to Myanmar.

https://www.anz.com/myanmar/en/about-us/our-company/anz-myanmar/

More generally, it is well known that the EU and US withdrew sanctions against Myanmar several years ago. For example, Myanmar banks now offer MasterCard and Visa cards, confirming US financial services companies can do business with Myanmar.

I emailed a complaint to their Head of Compliance (Jacob Beli), politely advising the above facts, querying why in these circumstances Vantage is unable to open an account for me. No response was received.

If this incident is any indication of their (complete lack of) professionalism, steer clear and give your business to a more professional provider who doesn't look so hard for reasons NOT to do business with people, and who has the courtesy to respond to reasonable complaints.

Reply by Vantage FX submitted May 24, 2018 Hi Andrew, it’s unfortunate that you feel that way.

Our compliance procedures are robust, updated on a regular basis, and in place for very good reason. In order to mitigate our risk, if any country appears on the AUSTRAC list, our policy doesn’t allow us to service those countries. In fact, refusing to service clients residing in Myanmar is a policy that is shared amongst every Australian regulated Forex broker.

Having carefully reviewed the live chat transcript between yourself and our customer service member, Tien, we’ve found that Tien provided you with an accurate explanation, and despite your hostility, aggression and bad language throughout the live chat, he remained courteous.

After reaching out to you to explain the situation, you not only responded with further hostility, but resorted to rudeness and name calling. On more than one occasion throughout our communication, you mentioned that you’re a banker/lawyer. I’m not sure the relevance of boasting this, whether to seek leverage or undermine and intimidate our staff members, but it bears no influence on our policies. Whatever the reason, using your title to justify individual exemption from our compliance policies or to demonstrate superiority over our support staff is quite simply, unacceptable.

We are fulfilling our licensing and compliance obligations to the highest standards and as such, Myanmar remains a country that we, and other Australian regulated brokers are unable to service.

Kind regards,
Vantage FX.
Reply by Vantage FX submitted Jun 1, 2018:
Hi Andrew,

Once again, we reiterate our stance by practicing the industry-wide refusal to service Myanmar, a policy practiced by Australian-regulated Forex brokers, nationwide. And, regardless of your threat to report us to ASIC, we will not be jeopardising our compliance practices to appease an individual’s demand for preferential treatment.

We have taken your post and emails seriously, and as discussed have escalated the incident to the relevant parties so that your conduct is reviewed appropriately. Mitigating financial risk remains our highest priority, and as such we continue to be vigilant in enforcing our ban on Myanmar, regardless of who throws their weight around in an attempt to have us breach our policies.

Thank you,
Vantage FX.

United Arab Emirates,
May 27, 2018,
Registered user

Good broker - does what it says on the box.

Been using Vantage for a several months. I find them to be a good reliable broker. I don't use high frequency trading methods, so won't comment on trade execution. Important to me is that deposits are processed quickly(unfortunately not instantaneous) but most importantly, they give me my money back when I request it. I am happy to trade with them.
QLD, Australia,
Apr 30, 2018,
Guest

VantageFX going bankrupt soon.

Vantage FX is a scam. When you make a winning trade they don't want to pay, when you make a losing trade they claim its market condition, they're criminal they steal money from you (the trader). Never use this broker. they're going bankrupt soon, you will lose all your money.
Reply by Vantage FX submitted May 2, 2018:
Hi Bob,

We’re sorry to hear about your negative experience with Vantage FX. Can you please get in touch with support@vantagefx.com outlining in further detail your grievance and we’ll be more than happy investigate the issue.

We take accusations of theft and criminal behaviour extremely seriously, even without being presented any reason or evidence for such claims, and will investigate your claim thoroughly. So please, contact our support team asap so we can resolve any issues you’re experiencing in a timely manner.

We’ll continue to update FX Peace Army throughout the resolution of this process and also in relation to the validity of these claims.

Our support team looks forward to hearing from you, Bob.

Regards,
Vantage FX
Taipei, Taiwan, Province of China,
Apr 27, 2018,
Registered user

I'm really happy with Vantage FX. I always experience good customer service and low trading cost. I have recently upgrade to MT5 and it was smooth. The only downside is that they don't have PayPal, hopefully they will add this function soon.
Sydney, Australia,
Mar 27, 2018,
Registered user

I've never had any issues with Vantage FX and am very happy with my decision to switch to them as my broker.

After moving to Vantage FX from GoMarkets, I've been quite impressed with the level of service that they've provided. I started on their standard account then upgraded to the RAW ECN and was glad to find that their spreads are as advertised.

I've withdrawn money several times which was handled quickly and easily and any questions I've had in the past have been responded to quickly.

I've never had any issues with Vantage FX and am very happy with my decision to switch to them as my broker.

Keep it up!