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
Hamish tait,
Glasgow, United Kingdom,
Aug 21, 2019,
Guest

Class execution and spreads.

Service use: Live

Length of use: over 1 Year

Yea very good conditions here on the ecn accounts...really low spread on eurusd and gbpusd. Easy to open account and 400:1 leverage.. I am primarily a scalper and get less slippage here than other brokers with low spreads. No problems to make withdrawals!!
 
London, United Kingdom,
Jul 1, 2019,
Registered user

Outstanding support and the best in the market!

Service use: Live

Length of use: over 1 Year

I have used Vantage for a few years now and as a team we are collectively using Vantage FX on our Trading Floor!

The support we receive from our Account Manager Daniel K is incredible. He really goes out of his way, working extra hours to make sure we receive the attention we require!

I can't recommend Vantage and Daniel K in just a small amount of words!

For anyone looking for a broker with reputation, credibility, small spreads and the best customer service I have received while being a Trader (9 years)

- Please look no further than Vantage FX!

Thanks again for the continued support and I am looking forward to continuing our relationship together.
 
Selangor, Malaysia,
Jun 24, 2019,
Registered user

Missing wire transfer withdrawal for a week!

Service use: Live

Length of use: 0-3 Months

I'm filling a complain about my recent withdrawal from Vantage via wire transfer that has been rejected by my bank.

I have NOT had a wire transfer rejected in my life!
This is because Vantage FX did not wire my money correctly by stating the purpose of payment.

I made the wire transfer on the 14/07/2019.
The wire transfer was cancelled and returned to Vantage's remitting Bank (National Australia Bank) on 17/07/2019.

This issue has been ongoing for more than 1 week. Today is already 25/07/2019 and they still insist they have not received the money.

I've opened up a SCAM ALERT thread.

More. Community discussion of this issue >>

 
Reply by Vantage FX submitted Jun 27, 2019:
Hi there Clackro,

We’re sorry to hear that you experienced delays with your withdrawal request and took to this forum to voice your grievance.

However, the good news is that the error is not on our end and is a result of a small oversight when you completed your withdrawal request. It was found that your bank, HSBC Malaysia, rejected the transaction because they require a Purpose of Payment code, which you needed to include with your withdrawal request.

As you are likely aware, a Purpose of Payment code is a mandatory requirement for transactions to Malaysian Banks, and unfortunately you didn’t provide one.

I can confirm that we processed your withdrawal request promptly as per the information you provided, and that the transfer was initially settled with HSBC who held the funds for several days. However, HSBC Malaysia did not allocate them to your account due to the missing Purpose of Payment. HSBC then rejected the transaction and initiated a transfer back to National Australia Bank, taking a further several days.

It is unfair that you have chosen to rate us with one star because you failed to provide all the information required by your bank in your withdrawal request. Vantage FX processed your transaction promptly according to the information that you provided. Had you provided the correct information in your request, funds would have been received as usual.

We ask that you revise or remove this post and close your 'Scam Alert' thread, as this is a result of an error on your behalf, and is no fault of Vantage FX.

Regards,
Vantage FX
Daria,
Germany,
May 14, 2019,
Guest

Shady Spread Differences

The spreads have been very high lately (up to 11.1 pips in EURUSD, when before they were only 0.0 - 0.03).

While chatting with the support I've received a screenshot from another vantage live account, one that had a spread of 0.2 (when mine was 0.9 - 1.1).

The IT department never gave an explanation for this, even though they wrote me several emails asking for more screenshots.

Right now their website with the live spreads seems disabled. I wonder why.
 
Reply by Vantage FX submitted May 21, 2019:
Hi there Daria,

We’re sorry to hear that you’re experiencing spread issues.

The live spreads are still active on our website, though they can sometimes take a couple of seconds to appear while the site pulls them in live from our platforms. If you’re still having trouble viewing them, please clear your cache and refresh the page, as everything appears fine on our end.

Regarding your spread of 0.9-1.1, is it possible your account is under an IB? IBs can sometimes mark-up the spreads on their clients’ accounts.

To address the widened spread you noticed on EURUSD. As a regulated broker, we do not interfere with our liquidity providers’ prices, even during news events when traders can experience significant increases to volatility. We always advise clients to exercise additional caution to should they wish to trade volatile news events.

Without knowing the specific time that you noticed this fluctuation, it’s difficult for us to ascertain the cause or pinpoint a news event that was likely the cause of the spread widening momentarily. Again, it is in our best interests to ensure our clients receive the best prices sourced from our liquidity providers.

Please submit any screenshots you may have of the spreads you saw at https://www.vantagefx.com/trade-investigation-form/ and we will be able to investigate the issue and provide further explanation.

Thank you,
Vantage FX
PARIS, France,
Apr 10, 2019,
Registered user

good broker

I have been trading with them since the beginning of the year to avoid the ESMA laws in Europe and to benefit from high leverage. their execution is great and they propose a large choice of instruments. I asked for a withdrawal and they dit it immidiately. their customer service is great.
 
Balti, Moldova, Republic of,
Mar 18, 2019,
Registered user

Vantagefx cancels the profit

Vantagefx canceled me much of my profit. I had a better idea about this company. I wrote a playlist at ASIC, I'm waiting for it to be right
 
Reply by Vantage FX submitted Mar 25, 2019:
Hi MartaBraniste,
We are sorry to hear of the incident you experienced. As an ASIC-regulated broker we have non-bias dispute resolution procedures in place, should you choose to escalate your incident. Please contact compliance@vantagefx.com detailing your grievance and we will open an investigation into the matter to determine an appropriate resolution.
Regards,
Vantage FX
Unhappy customer,
Australia,
Feb 5, 2019,
Guest

Whoever came across these guys, STAY AWAY FROM THEM

Horrible service, i have my money in their account and now I can’t withdraw it due to their ridiculous ‘policy’ stating that I have to use the same method that i deposited my money for my withdrawal. My wallet was stolen by a thief and they say I am not allowed to update and use a new card in order to withdraw my funds and I have to use the card that i first used for their company in order to withdraw it. This is by far the worst broke I’ve come across to and I regret every second of staying with them.
 
Reply by Vantage FX submitted Feb 11, 2019:
Hi there,
We’re very sorry to hear that you’re having trouble withdrawing your funds, however as mentioned to you previously by our support staff, if you no longer have the card used to deposit funds with us, you can withdraw your funds to your bank account.

The policy you refer to is enforced by Australian law, and all Australian-regulated Forex brokers are required to adhere to this policy as part of the CTA/ATF regulations. As such we, and every other Australian-regulated broker, are unable to process any withdrawals to a new credit card without any funding history with us.

If you would like to withdraw funds from your trading account to your bank account, please contact support@vantagefx.com to arrange for this.

Thank you,
Vantage FX
Singapore,
Jan 4, 2019,
Registered user

broker is so-so.

execution / price data feed is on par with others in the industry.

what is serverely lacking is the support.

vantagefx seems to be doing alot of the backend stuff manually

take telegraphic transfer for example. I had to submit TT receipt before they can verify and manually credit my deposit.

i funded 11 brokers in australia on the same day, all had credited my deposit by within the following 2 working days, except vantage.

if i have to go an extra step in submitting TT receipt each time i deposit, i would be expecting faster service than other brokers which automate the process.
 
Reply by Vantage FX submitted Jan 7, 2019:
Hi there Bicarus,

We’re sorry to hear that you’re unhappy with our deposit and withdrawal policy. The reason we require clients to submit a copy of their transaction receipt is to comply with Australian AML/CTF regulations as required by AUSTRAC. Other brokers may choose not to comply with these policies, however we pride ourselves on adhering to a higher standard of safety and security for all clients.

As a company that provides financial services, it is important for us to adhere to these regulations, which in this case involves verifying a client’s identity when they make a deposit or withdrawal. We do this to ensure that we continue to uphold a secure and transparent trading environment for all our clients.

We are continuously striving to improve our processes, and we will implementing some improvements throughout 2019, such as automating our credit card verification and further streamlining our account opening process.

Thank you for taking the time to give us your feedback, and I wish you all the best throughout 2019.

Kind Regards,
Vantage FX
United kingdom, United Kingdom,
Dec 7, 2018,
Registered user

Commision unpaid and account termination

Absolutely terrible company to work as a affiliate for. Worked for 1 month managed to earn a commision or $5400 after asking for my payment to be made to my bank I was told that my clients are not trading in a pattern and have only traded the minimum to unlock my commision. To prove to vantage that this wasn’t the case I complied a document with all my clients trading history over 250 trades were made by my clients during the month. After sending the document to them they then sent a email to say that they have terminated my contract and have removed all of my commision. Not only does this effect me this effects the marketers I hired who were counting on This money to have a nice Christmas. Shocking company many other people I have spoken to have had the same problem. They worked hard and then vantage refused to pay them. Now I have my marketers threatening me with legal action because I phisically can’t pay them. This who situation has caused me massive stress and depression. What ever you do DONT SIGN UP WITH VANTAGE FX

More. Community discussion of this issue >>

 
Reply by Vantage FX submitted Dec 12, 2018:
Tomtotrade,

It’s unfortunate that you have to voice the issue on a public forum, but I’ll reiterate again. You admitted to us in prior conversations that you intentionally cheated the program by instructing your clients to trade higher volume solely to trigger the CPA volume requirement.

In every single instance, there were four to five initial trades opened and closed within seconds, all at .55 volume which triggered the CPA. After which, the trading volume reduced significantly, in some cases to 0.01 lot. This pattern is consistent among the majority of your clients, which adds even further evidence to the intentional abuse of our CPA program.

As soon as our risk team identified the abuse of the program, we initiated an investigation. After uncovering the deliberate triggering of the CPA and the subsequent dramatic change in trading behaviour, we exercised the steps and processes outlined in the terms and conditions agreement, which you agreed to adhere to upon joining the program. The result of which was the immediate termination of your account.

We will not, under any circumstances, associate ourselves with people who seek to cheat our affiliate program, and our prior conversations only reinforce that fact that you intentionally breached the terms and conditions.

Again, as per our prior conversations, the outcome will remain unchanged.
Brampton, Canada,
Nov 29, 2018,
Registered user

Terrible Customer Service

I got reffered vantage fx by a friend of mine in the forex trading business. First of all, they asked me to send them a picture of my credit card through email after I already uploaded it to the website so that's an annoying technical issue but that isn't the main issue. I have been trying to get help from this company for days and everytime I make progression, they manage to screw it up somehow. I was trying to deposit funds and I was unaware that a screen had to POP UP, I was just told to proceed to the NAB page so there was not much help in that unfortunately. Then after I did figure it out, my credit card wont process through their "secure pay" system and after I tried a couple of times, guess what? THEY BLOCK MY IP ADDRESS SO I CAN'T TRY TO DEPOSIT ANYMORE. I've never seen a company give a client so much trouble just to give them money it's so ridiculous. They need a help line on the phone where I don't need a phone card to call them
 
Reply by Vantage FX submitted Dec 5, 2018:
Hi JoesephAb99,

I’m sorry to hear you’re having trouble with getting your account funded, but the good news is that our customer service is not to blame, and it’s an easy fix.

The issue you’re having depositing funds into your account lies solely with your bank, as some Canadian banks block credit card transactions to international Forex companies by default. Many of our Canadian clients have encountered similar issues at first. All you need to do is contact your bank and request that they allow the transaction to go through. Alternatively you can choose to deposit using either Skrill or Neteller.

Please also understand that we never block the IP address of prospective clients, as it would be very much against the interest of our business. So again, this is an issue that’s beyond our control and lies with your financial institution forbidding your transaction.

Regarding a help line in which you can reach us, we have a live chat facility on our website that you’re able to use, or alternatively I can put you in touch directly with one of our customer service representatives to help speed up the process.

I hope to hear from you soon, and please ensure that you contact your bank in order to allow the funding of your account.

Kind Regards,
Vantage FX
Ken,
Taipei, Taiwan, China,
Nov 28, 2018,
Guest

Great Customer support

I have been with Vantage FX for year now. I really appreciate their customer service and low trading costs. What sets Vantage FX apart from other brokers I have dealt with in the past is their customer service. I have been dealing with with Steven and all my questions are answered almost instantly. Thank you for your support and keep up good work!! Ken
 
Jan Hracek,
Kutna Hora, Czech Republic,
Nov 8, 2018,
Guest

I have been with Vantage FX for few years now and always received great customer service from their support team as well as from my account manager (Trevor). The deposit and withdrawals are processed quickly, low trading costs and stable MT4 - Keep it up Vantage FX!
 
edmonton, Canada,
Oct 15, 2018,
Registered user

they closed my positions twice in a week for no reason. The explanation was that it hit my stop lose. The funny think its that its clear that i have placed my stop loses on negative and my positions were closed on positive exactly before the price was heading on my favor. I dont win anything from this review i just post this cause its the only think that i can do to prevent this broker to scam more people. whoever wants the emails with the explanation or the pictures from my positions and the charts can send me an email and i can prove that im not lying.
 
Reply by Vantage FX submitted Nov 7, 2018:
Hi there Alextsanai,

We’re sorry to hear that you’ve experienced some issues. Please send the pictures and email correspondence you mentioned to support@vantagefx.com so we can investigate the incident further. Rest-assured we do not interfere with any of our clients’ positions.

Thank you and kind regards,
Vantage FX
London, United Kingdom,
Oct 8, 2018,
Registered user

Very happy with experience, perhaps improve some web interface features but otherwise great and runs as any customer would expect a larger broker to.

I have been using vantage now for under a year I will admit, however my time with them has been very good so far to date. I have used Vantage as both an Affiliate/IB and also as a trader both personal and MAMM.

As an affiliate overall I have been very happy with their service, I have been paid for my efforts and do not have any disputes on that, whenever I email them or skype etc I have had swift and productive communication channels.
However one downside would be that those I referred said they encountered difficulty during the sign up process. Whether from uploading documentation/ID or being informed of next steps etc. So they complained about the platform from then on it and I feel made up their minds about it. However from a deposit, trading and withdrawal perspective they had no complaints. They also did not receive nagging calls from overseas from their sales department to deposit more or take trades, nothing like those terrible EU and largely cysec brokers that unfortunately we have all probably dealt with if we are on this site. But like I said, they have dealt well with as a partner at all times and have been supportive so I can ignore the signup issue. I also even feel this may partly have been down to the competency of those I had referred rather than Vantage's systems, but this remains debatable.

As a trader I have had a great experience with Vantage and have no complaints. They have always dealt with me as you would expect and deposits and withdrawals have been a piece of cake. I don't have much to say in this department which is probably a good thing. However one advantage I would say is that perhaps they should have a 24/7 free to dial, customer service line or live chat for clients based overseas like myself. But generally I wake up to responses or stay up late, due to the time difference, however the responses are always there and are useful.

Finally I have recently utilised their MAMM structure and so far so good. Admittedly I haven't been using it for a long time but so far so good. The back office is a bit more confusing due to the user interface having a lot more going on than others I have used in the past but aside from that things are going well for now.

I hope although generally only positive, my detail has at least been beneficial to someone in either positions with them.

Special mention goes to David, one of their heads there, extremely helpful, professional and has gone the extra mile when I have sought support.
 
Rohith,
Coimbatore, India,
Sep 29, 2018,
Guest

I have been trading with VantageFX Australia for the last 2 years . withdraw process without any issue.
 
Dhivya,
Bangalore, India,
Sep 28, 2018,
Guest

I switched to vantage fx two yrs ago and can happily say I made the right choice. Great work and very satisfied.
 
Iniyan,
Coimbatore, India,
Sep 21, 2018,
Guest

My withdraw settled the next day,
I like the bonus which rebates to balance. They have cleared my doubts on everytime.
 
Subash,
Chennai, India,
Sep 19, 2018,
Guest

In my experience Vantage FX is the best. Very fast response from customer service always Thank you Vantage fx
 
Sujatha,
Coimbatore, India,
Sep 19, 2018,
Guest

Been using Vantage for a several months. I find them to be a good reliable broker.
 
Marikani,
Madurai, India,
Sep 10, 2018,
Guest

Having been with this broker for over two years, I’m totally satisfied, especially with their excellent customer support. Deposit and withdrawal are fast and safe. Got myself some profits and took it out to my bank account so easily. You must check this broker out. Highly recommended!
 
Amutha,
Madurai, India,
Sep 1, 2018,
Guest

I always receive prompt response from vantagefx. Fast execution and low spreads. Active Twitter feed which is great.
 
Alice Johnson,
Delhi, India,
Aug 28, 2018,
Guest

My initial feelings about VFX having read quite a few mixed reviews on this forum have been pleasently surprising. I've never experienced any technical issues, Daniel, my customer support rep has been great, execution is as good as expected and everything's going super smooth. Happy to recommend Vantage to anyone looking for a decent Australian broker
 
Latha subramani,
Madurai, India,
Jul 22, 2018,
Guest

Speedy deposits, quick withdrawal, low spreàds and great services. Highly recommend vfx!
 
Rekha,
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.
 
Logesh Palanivel,
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!
 

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