VantageFX.co.uk Review

2.4 · 16 REVIEWS
Updated: Feb 6, 2019 ·  · Is this your company?

Vantage FX is a forex broker. VantageFX offers the MetaTrader 4, MT Mobile, and WebTrader forex trading top platforms. VantageFX.co.uk offers over 40 currency pairs, gold, silver, oil, indices, and binary options for your personal investment and trading options.

VantageFX.co.uk

ATTENTION

Regarding the BTN Lightning Incident

ATTENTION

BTN Lightning made some very unusual software that really could probe for price delays (unlike most other similar claims the FPA has seen).  Although the delays in nullifying trades were excessive, the UK FOS has clearly ruled in Vantage's favor and confirmed that BTN's software was designed to cheat the broker by this sort of probing.  The FPA is happy to report that Vantage assures us that their backend software has been improved.  The improvements should make this sort of abuse much harder to do and also make detecting it faster.  In the unlikely event of any similar occurrence, any abusive trades should be dealt with much more quickly.

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2.4 · 16 REVIEWS
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Traders Reviews

Vantage FX,
Sydney, Australia,
Apr 11, 2013,
Guest

COMPANY RESPONSE TO RECENT CLIENT CONCERNS ON ACCOUNTS AND EA TRADING

We at Vantage FX are aware of the grievances and aired concerns of our traders and have been in the process of addressing these accounts individually, also undertaking further investigations of external third parties.
On the 20th March, 2013, following a request from our liquidity providers a small number of traders had their accounts temporarily suspended pending investigations into suspicious trading and in particular, usage of internet and connectivity delays in order to take advantage of arbitrage on Trading Systems. The suspension was in accordance to our terms and conditions for Margin FX and was necessary so as not to potentially contravene with our Licences from regulatory bodies. Full terms and conditions can be accessed here: https://www.vantagefx.com/about-us/legal-documents/
A formal correspondence via email was sent out to individual traders informing them, that the investigation may take up to 90 days and their accounts would be held within this time. Fortunately, this was not the case. All accounts were unfrozen after only 7 days and all accounts have been freed with no limits on trading or withdrawal.
During the week suspension, the frozen accounts were reviewed and confirmed as having used an illegitimate automated trading robot, also referred to as an Expert Advisor (EA), executing trades with the following characteristics:
• Causing systematic manipulation or abuse of markets
• Interfering with the markets efficiency and integrity
• Exploiting mispricing
• Operating in Breach of our Terms & Conditions 14.1, 14.2, 23.1.1 and 23.1.4
The offending EA which had produced these illegitimate trades was BTN Lightning. BTN Lightning (http://www.btnlightning.com) promote themselves as a “news trading” EA, despite not actually working as so. BTN Lightning EAs target latency arbitrage. Latency arbitrage takes advantage of delays in the price feed and hence, an incorrect price. News trading EAs work upon the release of economic news reports focusing on short-term movements in the market as a whole, not mispriced feeds.

Such mispriced latencies occurred for Vantage FX during some minimal server down times. The server downtimes came at the peak of our client growth and trading activities greatly attributed to the sudden quadrupling growth in our Binary Options, online and mobile trading. We have addressed these server issues by expanding our existing Equinix servers redirecting client feeds to those servers closer to them.

We at Vantage FX do welcome all the types of methods, trading strategies and EAs that are not in breach of our terms and conditions, namely that of latency arbitrage trading.

All of the trades executed by this EA have been cancelled and the associated profit and loss have been adjusted accordingly. Some traders have mentioned that only profits were cancelled whilst losses were left alone – this is untrue. All trades executed by this automated trading robot were reversed. Manual trades were not and commissions collected by BTN cannot be reclaimed by us.

We are currently in the process of compiling research and evidence against BTN. We are aware that other brokers have also undertaken investigations and suspensions in light of BTN Lightning trades. Within their original promotions and reviews, BTN recommended Vantage FX as the preferred broker for use with their EA (without our knowledge). Vantage FX has attempted to locate BTN to make contact on behalf of affected clients.

BTN has now locked out some traders’ accounts and removed all contact details off their website. According to many websites and forums, many users are knowingly trading with BTN despite its suspicious practices - with some even encouraging secrecy and sharing of the EA. This is knowingly trading against the terms and conditions traders have agreed to not only with us but with nearly all brokers. BTN have told some of our clients that they will be refunded the commissions from BTN but have yet to see anything. This also goes as a fair warning to traders to be wary of handing over their trading account details to any sort of system that appears ‘too-good-to-be-true’.

We apologise for the delay it took in identifying the offending system and only took action once we were positively sure of the issue at hand. If any traders have any further concerns, contact us directly. We are more than happy to provide any trader with their transaction record, along with audit numbers, for every trade calculated in this adjustment. You may request this record or ask any questions related to your account by emailing us at support@vantagefx.com.
 
Peter,
China, China,
Dec 26, 2012,
Guest

The online chat is not working. The MT4 platform got freeze over an hour. I will keep you all update about their response.
 
osarun,
Tokyo, Japan,
May 13, 2013,
Guest

I am a user with UK (but did not fund yet), have a simple question to AU.

Can you show all in FPA the technical evidences to establish your orthodoxy (the EA was designed to exploit delays in the price feed)? The technical evidences mean the verification outcome of source code and logic of the EA.

Of course, I know you have exact technical sources to reveal the EA is SCAM, because one of famous brokers in the world never cancels customer’s trades without righteous evidences.

I think showing evidences to us must be easy for you.
 
Elio,
Rome, Italy,
Mar 26, 2013,
Guest

Hi Guys,

be far away from this SCAM broker! Here you are the whole story:

I have opened this account on 2012/12/27 and I have funded it with EUR 1,050.00 (one thousand and fifty).

I was trading with two scalpers and was gaining some money. I received the daily and monthly report and everything was going beautifully. On 2013-03-20 I

received an email with subject: "Suspension of your account", that contained this text:

Dear (my name),

We are writing to you to inform you of the action Vantage FX has today taken in respect of your account 102789.

Following a request from our liquidity provider, Vantage FX have today suspended your account pending further investigation into suspicious trading and in

particular usage of internet and connectivity delays in order to take advantage of arbitrage on the Trading Systems. The suspension is in accordance with

Clause 20.5, of Vantage FX’s terms and conditions duly accepted by you prior to opening your account. Please click here to view full terms and conditions.

Until completion of the investigation, no further trades on your account will be allowed and no further withdrawals can be made. It is envisaged the

investigation will be completed within 90 days. Once completed we will write to you further outlining the results of our investigation.

If you have any current open positions on your account and wish to trade, please contact us on +44 207 332 4954.

If in the meantime you have any other queries please do not hesitate to contact us.

Kind regards,
Trade Support
(with no one signing it, of course!)


On the 21st I replied with this email:

Dear Mrs. / Mr.,

good evening. You wrote me, among others that will argue later, “Following a request from our liquidity provider, Vantage FX have today suspended your

account”: as the only owner of my account, with my funds segregated on a major bank, I ask you To show me the “request from your liquidity provider” (scanned

in PDF). Second, I want to know exactly where my funds are in this moment (Bank, name and number of the account).

Sure you will answer me ASAP, for avoiding to increase the relevant money damage you already have done to me, I wish you a nice evening.

Best regards,
(I signed it with my name and surname).


I received no news and I forwarded my email on the 22nd with this text:

Dear Trade Support,

good evening. I have sent you an email more than 24 hours ago and I still miss your answer; maybe you didn’t receive it, so I resend it.

Best regards,
(name and surname and attached the previous e-mail).


Instead of sending me what I had requested, I received today (2013-06-23) this email:

Dear (name),

Further to our email of 20th March 2012, we have now been able to conclude our investigations.

Your account xxxxxxx has now been reviewed and it has been confirmed as using an automated trading robot which had the below characteristics:
• Causing systematic manipulation or abuse of markets
• Interfering with the markets efficiency and integrity
• Exploiting mispricing
• Operating in Breach of our Client Agreement 20.5
As a result, all of the trades executed by this automated trading robot will be cancelled and the associated profit and loss will be adjusted. The net

adjustment to your account is calculated below. At your written request we can provide you with a transaction record for every trade calculated in this

adjustment.

Cash Adjustment – P&L = 1984.5
The adjustment listed above is denominated in the base currency of your trading account.
Your current account balance is now available for withdrawal once more.

We understand that many clients have downloaded an EA /Trading System or alternatively given their Login and Password to a third party, who is carrying out

trading on clients behalf. The strategy of these systems may not be clear to clients and we appreciate that you may not have been aware of the nature of these

systems when you allowed them to trade on your account. Please refer to your provider.

If you would like to continue trading, we request that you remove the BTN Lightning (or an associated trading systems) from your account and reply to this

email requesting for your account to be enabled for trading (please only request your account to be re-activated for trading once the current trading systems

have been removed). Alternatively please contact your account manager.

Kind regards,
Trade Support
---

Now, I want to open a compliant with the the Financial Services Authority.

So, I suggest you, to skip or abort any relationship you have with this broker.

Stay tuned with some update.
 
Andreas Wilden,
Tönisvorst, Germany,
Mar 26, 2013,
Guest

SCAM
They cancelled all my profits. I made scalping trades during big movements. But not really scalping, i held positions ofter more than 5 minutes
 
Thomas A,
Munich, Germany,
Apr 19, 2013,
Guest

This statement from the company is just a lie:
________
All of the trades executed by this EA have been cancelled and the associated profit and loss have been adjusted accordingly. Some traders have mentioned that only profits were cancelled whilst losses were left alone – this is untrue. All trades executed by this automated trading robot were reversed. Manual trades were not and commissions collected by BTN cannot be reclaimed by us.
________

I don't trade manual on my account, but after canceling my trades there is less than my initial fund in my account and I didn't withdraw so far. I can prove this with the statements of my account.
 
cibex,
Czech Republic,
Sep 13, 2011,
Guest

I wanted to contact them after 7 times in 24 hours and the result is always the same :
-Please wait for a site operator to respond.

-All operators are currently assisting others. Thanks for your patience. An operator will be with you shortly.

Is this normal???
 
Pierpaolo Palazzo,
Foggia, Italy,
Mar 20, 2013,
Guest

The problems started when i begun to withdraw some money.
They blocked my account saying that i exploited their delays to have successful tradings.
Their investigation will last even 90 days.
From my log, out of 396 tradings:
1) 83 contracts lasted 10 minutes or more and their profit was EUR 3,452.44
2) 313 contracts lasted 9 minutes and 59 seconds or less and their profit was EUR 202.54
So, they feel free to sequester my money
 
Jake,
Auckland, New Zealand,
Mar 27, 2013,
Guest

I left Vantage last year and closed my account after I discovered Vantage was deliberately delaying the execution of my trades by as much as 10-seconds.

I withdrew my money with no problem and moved on and didn't think anything more of the matter. Then just yesterday I received a statement for my old account showing a profit/loss adjustment of negative $500. I am now receiving demands that I owe Vantage money, despite receiving no other information or proof from this broker.

As far as I'm concerned I closed my account last year and withdrew the funds that were rightfully mine.

I don't know what's going on with Vantage and their sister company GoMarkets as they appear to be freezing all their clients accounts. I'm glad I got out while I did. My advice to everyone who has an account with Vantage is GET YOUR MONEY OUT NOW AND LEAVE THIS SCAM BROKER.
 
Igor,
Arhangelsk, Russian Federation,
Mar 27, 2013,
Guest

This is a bad broker.
Traded with him 6 months and was satisfied.
However, on 20 March received a notice that my account is frozen.
I can not get my money.
26th I wrote off all the profits.
Nice and easy!
Beware of this broker.
He'll be disappointed!
 
rob,
UK, United Kingdom,
Mar 28, 2013,
Guest

Vantage think it's ok to cancel trades 4 months after the fact. Oh dear, you're making money - can't have that. Apparently trading news is market manipulation! As if I with my 5k account can manipulate the FX market (which trades 10 trillion US every day!). Totally dishonest.
 
Sayed Sudip Ahmed,
Dhaka, Bangladesh,
Jan 4, 2013,
Guest

Hi there,
A quick update from me, still Vantagefxuk did not replied my mail, even they are not professing some withdrawal request from Bangladeshi traders.I I am waiting to hearing from them soon.

Wondering to see, how a good broker totally changed in a couple of months !!

2013-01-01 1Star My E-mail to Vantagefx.uk with past reference mail from Mr Jay from Vantagefx.uk, as a regulated broker, they will help us out we hope.

Hello there,
I am your old account holder, account number: 101276. My Friend's account number is, 102819, Name: Raju Mitra with you. His moneybookers account has been disabled. And legally no one can open more than one account with MB. He deposited with Vantahefx.uk with Moneybookers. But as his MB account has been disabled by moneybookers so he can not withdraw by moneybookers any more. At this situation, he wants his money back in his bank account, account transfer charges can be debited from his money. His Bank account name & other info if same as saved in Vantagefx.uk, then can you refund his money in his bank account please? At this situation, if you guys refuse to help him, what can he do? His mb account can not be de-activated, this is confirmed. Before I open account with Vfx.uk, I questioned Jay that, if my MB account is disabled, how can you return my money back? That time Mr. Jay replied back that you will return that money back to my bank account which name is same as my Vantagefx.uk account.
Hope you can help him. Thanks
Regards

Here I add mail from Jay before:
Sayed Sudip Ahmed sudip022002@XXXXXX
11/24/11
to Jay

Dear Jay,
One more question came from my circles, need your kind answer, some times money brokers or even liberty reserve account got shut off by mb or lr with or without showing any valid reason like exchange. In such case, what can be the withdrawal process, suppose if some one deposit by money brokers and then his money brokers account got shut off or hacked, also please note, in very rare case happen like this. Thanks

Best Regards

Jay Mawji
11/24/11
to me

Sudip,
Thanks for the email. The easiest thing would be to set up a new LR or MB account. Failing this, we could send the money back to your bank - provided we received a notarised copy of your bank statement. We will always help our clients, as long as we stay within rules of the FSA.
Have a good evening,
Regards,nnJay K Mawji

More info is here:
http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/22704-whats-going-vantage-fx-moneybookers2.html#post109979

2012-12-11 3 Stars They are taking more time than before for withdrawals now a days & the process of withdrawal is not smooth now. They don't have any swap free account for Muslims. Last time while making my withdrawal from my account 10127*, i felt i am dealing with HotForex. But their over all spread & execution are ok. Hope they will over come from their miss management soon.

2012-11-02 5 stars They are one of the best broker i have ever used, lower spread, instant execution, regulated with good customer care support. They give auto chartist free. One more thing i want from them, if they issue any master debit card for withdrawal... what ever the deposit method was,
I give them a five star & hope their service will be always like now.
 
PIERRE BINELLI,
ACQUI TERME, Italy,
Mar 26, 2013,
Guest

To day VANTAGEFX.CO.UK has cancelled all my profits on my metatrader and I have not received the list of the suspicious trades

2013.03.26 04:03

balance

Cash Adjustment - P&L

-4 003.17

2013-03-25 1Star I wrote to vantagefx.co.uk 3 emails asking them to give me the list of suspicious trades and I asked again to honour my withdraw.
I have been trading with my EAs and doing news trading as most Forex traders do. They will phone me for discuss the problem but I told them I prefer discuss by mail and have a track. Maybe they will offer an arrangement, giving me only my initial deposit if I give up my profits.

All my trades were open for several minutes; they are completely lying about the suspicious trades; and they stopped my account only after a withdraw. Many of my profitable trades are some month old

I will continue to post on this site and I will go in the court if necessary

I cannot let this broker go away with my money

2013-03-23 1StarI live in Gibraltar but now in holidays in Italy
I trade with vantagefx from 8 months and after 3 days ago I requested a withdraw for 2000 GBP , they sent me an email.
They wrote me my account is suspended for 3 months and is under investigation and only after I requested the withdraw.
I have received daily statements and never they wrote me for some problems with my trading
 
roland müntefering,
wesel, Germany,
Jul 9, 2014,
Guest

All I can say so far: Very good broker! Good pricing,as well as no slippage, excellent execution and nice support. I am glad to have found this broker.
 
Sergey Malinka,
Lagos, Portugal,
May 3, 2014,
Guest

Hello everyone, just to clarify things about VantageFX UK. Before they separate from AU office they had some problems with one of the EA that was speculated on broker time delays. So most of the negative responses here because of the lack of knowledge or tempering with broker rules. Have been with VantageFX UK for 1.5 years. Everything 100%, leverage, EA support (scalping, long term and martingale), help desk very good as well. So all that negative things that has been said before ether has been dealt with or not true. Anyhow I will continue with this broker, due to fast withdrawals and responsive customer support. RAW account spread is unbeatable by ANY OTHER BROKER:
 
brian gregory,
england,
Sep 27, 2011,
Guest

hi
all i can say about Vantage is this they have the best customer service available anywhere. they may have there problems with the platform from time to time but they realy do try to sort things for you. and with tight spreads it should even itself out
my contact there is Jay Mawji he is always helpful.and will do all thats possible to help if its reasonable. though i have a small account i get the kind of service you would expect from having a much larger larger one. i can highly recomend this firm.
 
Neil McMillan,
Nailsworth, United Kingdom,
Dec 17, 2011,
Guest

The spreads are about as low as you can get. My trades are immediate with no apparent slippage. I too have a relatively small account with Vantage UK and Jay is also my account manager. From the start he has always treated me as a valued client and helped when asked I have not tried to withdraw thus cannot comment,but the attitude seems excellent.
 
P Sallin,
Fribourg, Switzerland,
Apr 3, 2012,
Guest

After trying a dozen of Forex brokers over the years, I have decided to give VantageFX UK a trial and I have been pleased on every level. Their customer service (especially Jay) is always there when you need them. Their MT4 platform is stable and they have NO surprises in store. What you see is what you get. I would recommend them to anyone looking for a professional and serious broker in Europe.
 
Trevor Blake,
Norfolk, United Kingdom,
May 2, 2014,
Guest

Hello
I am not normally given to posting reviews. However I feel I need to on this occasion. I am a part time trader and I don't have very big account balances. But after having been with several brokers over a period of time, I have found that the one which stands head and shoulders above the rest is VantageFX UK. Whether it is an account query, a withdrawal, a deposit, or a trade query, I am always treated with the utmost respect, and extremely promptly. If you are thinking of using this broker, ask for a guy called Jay Mawji. No question is beneath him, no query is beyond him, and I always feel I am being offered the exact same standard of service as his high value clients. I would personally recommend them each and every time, and it is the only broker that I do now recommend, as over a long period of time, they have proved their worth. Outstanding, I would say