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
Forex Peace Army
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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.
 
Paris, France (Really inside the offices of VantageFx in Australia),
Jul 21, 2020,
Registered user

Amazing customer service I recommand

Service use: Live

Length of use: 3-6 Months

The customer service is so quickly and really efficient.
The waiting time is very short and the agents have a lot of knowledge. I totally recommend.
 
Forex Peace Army
Review moderation team note
Why would you need to wait on hold?  This review was left from inside the offices of VantageFX.  You could have just asked directly.

Per FPA policy, the rating on this review has been set to Zero stars.
Melbourne, aUStrAlia,
Jul 13, 2020,
Registered user

Won't make withdrawls

Service use: Live

Length of use: over 1 Year

My account no is 11944
I have put in a withdraw all request and they have refused to return to my credit account or bank
they continually change stop losses to suite them selves and alter trades when in profit
there are a total scam with no customer support
there based in china so you can't speak to someone that speaks English

Jun 16, 2020 - 1 Star Been trying to make withdrawals from Vantage FX they have a scam to keep money made by their clients
They can.t be trusted since they moved their headquarters to china
 
Canada, Canada,
Jul 8, 2020,
Registered user

Amazing customer service

Service use: Live

Length of use: over 1 Year

Vantage offers transparent and very good competitive prices. Anytime you have a problem there customer service is by far one of the best. I don’t remember all the names Off the top of my head but agents are always willing to help you and go above and beyond every time.
 
Mississauga, Canada,
Jul 2, 2020,
Registered user

Theyre ok

Service use: Live

Length of use: 3-6 Months

I apologize for the bad earlier review.
It turned out it wasnt their fault i compared with other brokers as well.
I like to trade around swap time but the spreads are usually too high, not sure why.
Also, if you accept etransfer for deposits, you must allow etransfer withdrawals as well (Canadian clients)
I will attempt to withdraw soon and will update.
 
Canada, Canada,
Jun 17, 2020,
Registered user

Vantage fx login scam

Service use: Live

Length of use: 3-6 Months

Not able to login several times to close profitable trades. However at the same time I was able to login other accounts of VantageFX
I recorded a video as well
  1 trader has found this review helpful
London, United Kingdom,
Jun 4, 2020,
Registered user

Stay Away from this broker! Deposit Scam

Service use: Live

Length of use: 0-3 Months

As a new user when I wanted to make a deposit I got a message - deposit failed please try again later. I submitted twice again and still got the same message. I later found out that the 3 payments went through. This scam tactic to get more deposits from new users is very unethical considering that most new traders lose their money. They also claim to be regulated in the UK but on calling the regulator I was informed that they are not. They use different names such as Vantage Global Prime and atom8. The customer service although prompt is just been dealt with by powerless agents who gives standard answers. I would say stay away from this broker.
  1 trader has found this review helpful
S,
United Kingdom, United Kingdom,
May 5, 2020,
Guest

Horrible, avoid! Avoid! Avoid!

Service use: Live

Length of use: 0-3 Months

It’s been 3 weeks and I still haven’t recieved my withdrawal. They’ve emptied my account and have made the payment go missing. They take 1 hour to get through to over the phone, when they pick up they say they’ve send the payment. I went to my bank and the reference number doesn’t return anything. They are now saying they’ve send the payment and can’t do anything. They can’t retract or trace and that my bank should give me the money using the receipt. Bank have advised me that they are lying and can retract payment and that their receipt is invalid. Avoid this broker if you want to be able to get your money back! Worst customer service and makes your money go missing
  1 trader has found this review helpful
st. john's, Canada,
Apr 22, 2020,
Registered user

Unreal and random prices

Service use: Live

Length of use: 3-6 Months

I've been working with this broker for a couple of months, and things were going normal, until the recent oil price crash. As the US oil price started to crash, there was discrepancy between the real-time price and what they provided in their platform. In a couple of hours, their price was totally off from the reality, and were just randomly going anywhere, which resulted in all my orders to stop-out. I contacted them several times (and honestly they responded quickly), but they were took the responsibility of the issue, and just kept repeating the difference is due to they using prices for the contracts for June, while other websites show the price for May! This type of pricing and quoting is not mentioned anywhere on their website, and they never informed their clients about such a pricing.
They refused to return the money I lost due to this non-sense, and everytime they just repeat the same sentence about contracts.
In summary, it seems when markets go volatile and they feel they're losing money, they will come up with an excuse to close profiting accounts and stop you from making money.
  1 trader has found this review helpful
Reply by Vantage FX submitted Jun 30, 2020:
Hi there Taimaz,
We’re sorry to hear that you sustained a loss due to the Oil crash in April. After reviewing your communication with our support team, and as per your comments above, you were trading a June futures contract as opposed to the May contract.

With the instrument you were trading, the contact rolled over on the 17th April (3 days prior to the crash), so you were no longer you were trading the May contract, but trading the June contract. All of our CFD rollover information is regularly posted on our 'Notifications' page and all clients are sent a monthly email informing them of the rollover dates, as well as any changes to product information.

We encourage all clients to gain an understanding of the products they intend to trade, including the differences between spot and futures markets as well as observe the regular CFD Rollover emails we send to all clients, so as to mitigate the chances of mistakenly trading a different product to what they intend.

Again, we’re sorry to hear that you were affected due to the Oil crash. If there’s anything further we can assist with, please contact our support team.
London, United Kingdom,
Mar 26, 2020,
Registered user

Vantage smart scammers

Service use: Other

Hi dear brothers and sisters I would like to share about you my experience about vantage Fx Its biggest scam broker. because i never seen any broke like this secondly you never get back your money what ever reason or whatever proof you have i lost all my money that i am saved last 4 years the reason I lost my money was error from Vantage fx system i sent to them all proof i have but those people they are smart they never ever except there own mistakes always poor excuse please don't lose your money to please stay away there is thousands broker and always use your own country broker who registered

Thanks
  1 trader has found this review helpful
Reply by Vantage FX submitted Jun 30, 2020:
Hi there Abdirizak,
We're sorry to hear about your incident. After looking into your support transcripts, we can see that you decided not to provide any further details about your grievance to our support staff. If you'd kindly get in touch with our support team and provide them with additional information that was requested, we'll do everything we can to meet a resolution.

Thank you, and we look forward to hearing from you.
Bonheiden, Belgium,
Mar 19, 2020,
Registered user

reverced deposit

Service use: Live

Length of use: Have not used

I funded my account with some bitcoins !
After a couple days Vantage fx suddenly took some money from my account whitout any notice !!!

I've asked a few times why there was money from my account and they told me it was a reverced deposit ? So I asked where it wa send to ...?

They claim it was a miscalculation and the correct this. They did this 2 times ... again without any notice.

When I want to chat about it ... now they blocked me from the chat ?

I feel like they have no intention of solving this !
  1 trader has found this review helpful
Reply by Vantage FX submitted Mar 25, 2020:
Hi there Frederob,

I’m sorry to hear about your experience.

I've looked into what happened, and the additional funds that were credited to your trading account were a result of an error in exchange rate calculations. When your deposit was processed, it was incorrectly credited in excess of your intended deposit. Once this was discovered, the surplus in affected accounts was deducted, bringing deposits received to the amount originally submitted. No clients are entitled to keep any surplus funds that are credited to their accounts as a result of a technical, or other error.

We sent out an email notification and explanation to all affected clients on the 18th of March, however according to our database we can see that you had previously chosen to unsubscribe from our mailing list. Had you not have unsubscribed from our mailing list you would have been notified of the error just like the other few affected clients.

Again, we apologise for any misunderstanding. Please don’t hesitate to contact our support team with any further queries or concerns.

Thank you,

Vantage FX
Ontario, Canada,
Feb 1, 2020,
Registered user

VantageFX is a great broker! I’ve been trading with them going on 3 years n

Service use: Live

Length of use: over 1 Year

VantageFX is a great broker! I’ve been trading with them going on 3 years now. No issues with withdrawals or deposits and my order executions are perfect every time. My trading style is long term, days and weeks long trades. I don’t scalp. Please take the time to carefully read their rules and policy and you can avoid many common issues. Last year during their transition to the islands… I was somewhat hesitant to go along. However, Daniel re-assured me that everything is going to be OK and so far things are working out. This broker has over 100 CFD options for you to trade. NAS100, CrudeOil, SP500, all major and minor currency pairs, Nikkei, Gold, Bitcoin, Apple, Cola, Amazon, etc.

Nov 2, 2018 - 5 Stars This broker is reliable and I can definitely trust them with my money. They are regulated and always prompt to help me with my trading. They accept Credit/Debit deposits, this is something that many other brokers can’t do. If you are new trader, talk to Daniel, he will guide you with account setup and trading basics. A+++
  1 trader has found this review helpful
James,
Bangkok, Thailand,
Jan 2, 2020,
Guest

Appalling Customer Service

Service use: Other

Length of use: Have not used

I was thinking of opening an account with Vantage. On around 20 different occasions recently, I tried to contact them via their website chat function.

On each occasion, immediately after I got through to their representative, the chat was abruptly ended from their end, advising they were to busy to respond, requesting that I email them or leave my message in the provided space in their chat window.

On several occasions, I left my query but they failed to reply.

From my experience, it's impossible to contact these jokers via chat. Nor do they reply to messages that one leaves.

Take your business elsewhere until they sort their incompetence out.
 
Reply by Vantage FX submitted Jan 3, 2020:
Hi there James,

We’re sorry to hear about your experience communicating with us via live chat. Unfortunately, during the period you were trying to contact us through live chat (11:35pm – 12:40am), we were receiving a high volume of new customer inquiries.

I’ve had a look at the live chat transcripts, and to answer your question “Do we offer CFD over the NASDAQ?”, yes, we offer the NASDAQ Index CFD and a number of US Share CFDs, some of which are listed on the NASDAQ. For a full list of our US Share CFDs can please visit https://www.vantagefx.com/trading/products/us-share-cfds/, and for a list of our Indices CFDs please visit https://www.vantagefx.com/trading/products/indices/. We are also in the process of launching a number of UK and EU listed Share CFDs in the coming months, too.

Again, we apologise that you were unable to get directly through to our support staff in a timely manner, however if you send an email to support@vantagefx.com and we will connect you directly to a staff member who will assist with any further questions or enquiries you may have.

I hope we hear from you soon, and reconsider joining Vantage FX. Thank you for your constructive feedback, James.

Kind Regards,

Vantage FX
Sydney, Australia,
Oct 5, 2019,
Registered user

Vantagefx dosen’t let clients to withdrawal the profits without evdience

Service use: Live

Length of use: 0-3 Months

Vantage FX is such a Foreign exchange provider who only welcomes money-losing clients. Once it makes profits, the dishonest Vantage FX repudiates customers’ debts and closes accounts, and even refuses customers’ withdrawal requests.

I opened my account at the end of this July and added funds on 07 August. And applied for withdrawal for three times . However, I received the email from Vantage FX saying I cant withdrawn and my account was closed without any substantive reason. In the past few weeks, no one contacted me,so I try to call them, and always told me everything Is fine and always told me my account managaer is not here .After I made a complaint to their Department of Customer Complaints, again no one was present to handled my complaints. So I made a complaint to AFCA regarding my issue with Vantage FX. Nevertheless, Vantage FX made storied and said that they never received any complaint from me. And vantage fx again played for time to make excuses that is quoting error And I did compare with the other major brokers, and all the price quote were the same at that time. I can definitely provide enough evidences while Vantage FX cannot give any substantive evidence, Vantage FX, should be severely punished and directly revoked license!
  3 traders have found this review helpful
Reply by Vantage FX submitted Oct 9, 2019:
Hi Richard,

After discussing the matter at length with you, we stand by our decision. As an ASIC regulated broker we have a strict dispute resolution process in place, the outcome of which you were unhappy with.

Since referring the matter to AFCA, you have presented your side, and we have provided evidence supporting our decision. As the matter is currently under investigation, we are disappointed that you have chosen to post your grievance here in a public forum, especially prior to the matter being resolved.

Regards,
Vantage FX
leicester, United Kingdom,
Sep 18, 2019,
Registered user

Good experience

Service use: Live

Length of use: 6-12 Months

Been using for a long time, decent broker, don't give me any issues and withdrawals are easy and straight forward
 
Abdullah,
Mississauga, Canada,
Sep 2, 2019,
Guest

BS emails, promotions and questionable emails

Service use: Live

Length of use: 3-6 Months

The "account manager" will email you randomly insisting to put in more and more money, even after a month or 2 when I'm making money.

And he'll personally message you promotions and irrelevant poo with no direct or easy way to unsubscribe.

One of his messages was written as if he's a slick, fruit cup bunny that spends in his time in the forexworld, only to disconnect for a couple minutes to "check up on you" and is curious of your strategy and so forth. JOKE

Just a thought
SG
Steven Galt <steven.galt@vantagefx.com>
Wed 2019-06-05 10:25 PM
I hope you have been well.

I just wanted to ask the honest question if you have ever considered trading on a larger account balance?

"I always step out of the world of trading for a few minutes every month to simply make sure you are still satisfied with the service and experience with Vantage. All feedback is taken on board to try and improve our offerings.

I know a lot of people see the markets as a way to have a residual income. I know there are a lot of clients that use the markets to hedge their own commercial transactions ( remember you can have up to 500:1… it can be as low as 1:1)."

Thanks Captain Obvious.
 
Reply by Vantage FX submitted Sep 10, 2019:
Hi Abdullah,

We are very sorry about the circumstances surrounding your complaint and we appreciate you bringing this issue to our attention.

We have taken appropriate disciplinary measures internally as a response to the conduct displayed by your account manager.

Thank you again for bringing this to our attention. Our management team will contact your personally to discuss the incident further and seek that an appropriate resolution is met.

Kind Regards,
Vantage FX

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