Vantage FX Review

2.768 · 180 REVIEWS

Vantage International Group Limited

Vantage Global Prime Pty Ltd

Updated: Nov 17, 2020 · VantageFX.com  · Is this your company?

VantageFX is a forex broker. Vantage FX offers the MT4 and MT5 trading currency platforms. VantageFX.com offers over 45 currency pairs, cryptocurrencies including bitcoin, indices, gold, silver, commodities and cfds for your personal investment and trading options.

Vantage FX
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 multiple 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.com is part of Vantage International Group Limited. Known members of this group include KlimexCM.com, VTMarkets.com, MonetaMarkets.com.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $200
Established: 2009
Address: Level 29/31 Market Street, Sydney, NSW, 2000, Australia
Contact: support@vantagefx.com, 61289992046
Regional offices:
Regulators: ASIC #ACN157 768 566, AFSL 428901, CIMA #1383491, FCA #590299
Prohibited countries:
Trading platforms: MT4, MT5
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (45+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (135+) Gold, Silver, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
MAM: Yes
PAMM: Yes
ZuluTrade: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, BPAY, FasaPay, MobilePay, Neteller, Poli, Skrill, Transfer from Existing Broker, UnionPay
Withdrawal Methods: Bank Wire, VISA, MasterCard, FasaPay, Neteller, Skrill, UnionPay

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2.768 · 180 REVIEWS
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Traders Reviews

Sao Paulo, Brazil,
Nov 17, 2020,
Registered user

VantageFX’s fraudulent stop-outs caused me over US$ 9.000 in losses

Service use: Live

Length of use: over 1 Year

I opened a STP account with VantageFX a year ago. While it happened a few times before, I only noticed the fraud on November 06, 2020 when I received a stop-out for more than US$ 5.000.

I had 14 positions opened, using a 0.1 lot size on an almost US$ 10.000 account.

At exactly 7pm (GMT -03:00), a few seconds strange “spike” happened and in a blink of an eye all my positions were gone! No margin call whatsoever as there was no reason for it before “the spike”!

After a few minutes I received the following stop-out notification:

-----
Please, be advised that your Equity has dropped below the required margin level and therefore positions in your account have been liquidated.
Status:
Equity: USD 111.14
Margin Requirement: $USD 253.43
Margin Level: 43.854%
Margin Shortage: USD 91.60
-----

The strange “spike” looks like that: For a few seconds ALL prices go up and then back down. It looked to me as it was a glitch, something that might happened when VantageFX switch servers between the UK and the US.

So, I emailed Customer Service with request for compensation (at least I have STP and not ECN account) and received the following response back:

-----
I have checked your account and I can see that your equity level was at 75.2$ and the margin level dropped down to 29.7%. After adding the losses all up, I didn't find any issue with the calculation of your equity. Unfortunately, we are not able to compensate for your loss.
-----

Did you notice the inconsistency of information here? And did you notice how they totally ignored my request for the “spike” explanation?

A few days after that an account manager named Emma Chauffepied contacted me to check if I was satisfied with my account.

I said “No”, explained the issue again and she promised to investigate. Never heard from her again, despite trying to follow-up with her with 2 more emails.

Today, at the exact same time, 7pm (GMT -03:00), same “spike” happened again and I lost more US$ 500 in a split second…

Well, I hope they are still “investigating” and hopefully will decide to compensate all my losses as it is clearly fraudulent or failure… If they don’t come back to me with a favorable response, I’ll make sure this review is posted on all sites evaluating VantageFX.
  1 trader has found this review helpful
Sam,
Ontario, Canada,
Oct 4, 2020,
Guest

Good

Service use: Live

Length of use: 6-12 Months

I'm writing this review because I was hesitant about this broker and had doubts because of the bad reviews I read here.
Before they stopped working with Canadian Clients what I experienced was good trading costs, OK support, good trading conditions, and OK deposit and withdrawal processes when Bank Wire Transfer was used.
 
Max,
Harris, Singapore,
Sep 18, 2020,
Guest

i'd be weary

Service use: Live

Length of use: over 1 Year

I was an australian citizen whom just obtained my Singapore citizenship.

Ever since leaving Australia, the standard of service with this broker has been appalling.

ever since ASIC introduced Product intervention powers (PIP), Vantagefx has moved all its overseas clients offshore, this is despite no confirmation of PIP yet by ASIC. all other ASIC brokers are still accepting clients, except VantageFX. - and yet they had the audacity to submit response to ASIC's PIP when they have already moved clients offshore, jumping the gun? or a wolf in sheep's clothing pretending to fight for client's rights

because of this, many clients has left vantagefx.
it was also reported that vantagefx, used insider information from its profitable clients for personal trading.
(https://www.financemagnates.com/forex/brokers/asic-imposes-sanctions-vantage-fx-following-court-ruling/)

hence VantageFX, knowing that their original brand has taken a hit , has taken on a new strategy of onboarding clients, - creating subsidiaries.

VantageFX Australia
-------------------------------------------------
Vantage International Group
- Atom8
- VT Markets
- Vigco
- Vantagefx UK
- Kilmex CM
- Vantage Prime
- a few others which i cant remember off the top of my head

basically, the strategy is to divest its branding with vantagefx as the parent company + all the suckers (i mean clients) that are non AU residents are not subjected to vigor regulatory oversight.
 
Sam,
Montreal, Canada,
Sep 10, 2020,
Guest

Thiefs

Service use: Live

Length of use: 0-3 Months

This is really important i have even screenshot of what they are doing this is happning like the fourth time they close my trade when the price juste close to my stoploss When i say close its like 10 pips even wtf .this is stealing money and you can do nothing about it never hit it and boom they close it and take the money
 
TORONTO, Canada,
Sep 3, 2020,
Registered user

Excellent service

Service use: Live

Length of use: over 1 Year

Hello
I have been with VantageFx since 2010 and all I can say is their professionalism and work ethic. Also, compared to other brokers, vantagefx has some of the lowest spreads.

I had an issue with one of my deposits which according to the intermediary company had expired before it could be registered at the merchant site. The failed transaction caused me to be furious but the support specialist were patient with me through out the ordeal.
 
Kuala Lumpur, Malaysia,
Sep 2, 2020,
Registered user

Non-existent customer service

Service use: Live

Length of use: 0-3 Months

I've used quite a few brokers. To-date, this takes the last spot for the following reasons:
1. Non-existent & incompetent customer service.
- support gives canned answers and displayed little understanding to the questions asked.
- weak knowledge. eg. Support don't even understand my request for the audited financial statements of the company
- support is generally not helpful
- their support takes a few days to reply my emails; only to be given half-baked canned answers which doesn't answer the question and showed weak understanding of the question.
- support is incompetent

2. Delay in processing withdrawals
- it took a few days just to process and approve my withdrawal request. Then the standard 3 days to remit my funds from date of approval.

3. Difficulty in funding
- I chose a funding method via a local instant transfer. It took several hours for my funds to be reflected which in normal situations it has always been instantly reflected.
- Upon close follow-up with the customer service, it clearly shows that they lack synchronisation and were all over the place in being unable to locate my deposit.
(This frustration is compounded by the fact that their customer service staff is generally incompetent - see point 1 above).

4. Spreads on their so-called ECN account even during liquidity rich times on majors eg. EURUSD is about 1 to 1.5 pips. This is totally misleading and unacceptable.

All in all, VantageFX needs serious improvements in various areas if they want to continue to be in the brokerage business.
  1 trader has found this review helpful
Singapore, Singapore,
Sep 1, 2020,
Registered user

Delay in withdrawal

Service use: Live

Length of use: 0-3 Months

Submitted withdrawal and been pending since 19th August. Support can't help much except ask me to send email to account manage who also didn't reply
 
Penang, Malaysia,
Aug 18, 2020,
Registered user

Service use: Live

Efficiency of customer support when have any inquiries. Withdrawal very effectively within 24hour.
 
General Santos City, Philippines,
Jul 31, 2020,
Registered user

50% Credit Bonus

Service use: Live

Length of use: 0-3 Months

After exchange of emails, finally Vantage FX credited my 50% credit bonus upon application. Withdrawal and Deposit is fast and easy. I use Bitcoin and Skrill for this.

Jul 25, 2020 - 3 Stars I'm kinda disappointed how slow their support is. I chased them for days already but still the credit bonus dont reflect on my account. That's why I give them 3 stars for now. Withdrawal and deposit no problem at all.
 
Moe samuels,
London, United Kingdom,
Jul 23, 2020,
Guest

Biggest scam

Service use: Live

Length of use: 0-3 Months

Don’t use this stupid broker I’ve been sending a withdrawal for the past week, always bs excuses and lies.
Please stay away from they, they don’t deserve to be in business.
 

Frequently Asked Questions

Is Vantage FX legit?

Vantage FX Group of companies is authorized and regulated in various jurisdictions.

  • Vantage International Group Limited: is authorised and regulated by the Cayman Islands Monetary Authority (CIMA), Securities Investment Business Law (SIBL) number 1383491 
  • Vantage Global Prime Pty Ltd: is regulated by the Australian Securities and Investments Commission (ASIC), AFSL no. 428901
  • Vantage Global Prime LLP: is authorised and regulated by the Financial Conduct Authority, FRN: 590299

Is Vantage FX an ECN broker?

Yes, Vantage FX offers ECN Accounts in retail and professional types with following features.

  • Minimum deposit: $500 for retail traders, $20,000 for professional traders
  • Minimum trade size: 0.01 for both
  • Leverage: up to 500:1
  • Platform: MT4, MT5, Webtrader, Mobile App.

How do I withdraw money from Vantagefx?

To make a withdrawal from VantageFX is pretty simple.

  • Log into Vantage FX client portal
  • Select the withdraw tab from the menu
  • Select the withdrawal method
  • Enter the amount