If you’re a complete beginner and want to learn how to trade, you can find better educational options elsewhere. But, if you somewhat know what you’re doing, Vantage offers competitive spreads and commissions. Lastly, we have the Pro ECN account, which is extremely similar to the Raw ECN type.
Account Types Available
Forex traders also appreciate the ability to engage in social copy trading. It’s important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Vantage is a well-balanced limefx scam Australian broker that offers retail and professional traders access to nearly 1000 instruments at competitive prices. Vantage offers a decent range of research tools – both in-house and from external providers.
What can you trade?
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- I found the indicator particularly useful for intraday trading, as it informs traders of how other market participants are positioning themselves on the market.
- Then we had to provide details about our address and whether we’re a US resident for tax purposes.
- VantageFX uses a no-dealing desk trading model meaning they connect you with liquidity providers such as investment banks rather than act as your counterparty (which occurs in a market maker model).
We looked through the company’s trade ideas articles which largely had generic market information with some basic technical analysis for certain CFDs and currency pairs. The Vantage platform also has trading tools, such as the sentiment indicators which are graphics showing whether Vantage clients tend to be long or short in a particular market. All in all, Vantage has a solid product offering, not as much as some other major brokers, but it should be enough for most traders. There are also e-wallet providers such as Neteller or Skrill, which can help you to segregate your trading funds from your personal bank account. All CFD trading products are available for spread betting and since they both have the same underlying instruments, the spread or points will be the same.
Customer Support
There is also the Vantage App, which is essentially a branded version of the MT5 mobile app. Firstly, there’s MetaTrader4 (MT4), which is the industry standard work-horse software. This is the ultra-reliable, Toyota Hilux of the forex industry, which will solidly run on desktop, Mac, Android, or iPhone. MT4 has a ton of features, including use of Expert Advisor tech for custom trading analysis. Access to the demo account is completely free and available for 30 days.
FOREX.com provides traders 91 currency pairs (e.g., EUR/USD) compared to Vantage’s 57 available pairs. Trading financial products carries a high risk to your capital, particularly when engaging in leveraged transactions such as CFDs. It is important to note that between 74-89% of retail investors lose money when trading CFDs. These products may not be suitable for everyone, and it is crucial that you fully comprehend the risks involved. Prior to making any decisions, carefully assess your financial situation and determine whether you can afford the potential risk of losing your money.
Trade Commodities CFDs
I also compared the numbers displayed to the broker’s live quotes on the platform and determined that they matched. While the broker’s research and educational offerings continue to expand, Vantage has a ways to go if it wants to compete with the best brokers in those categories. There are regular educational webinars, which are run by a trading education firm called Trade With Precision which focus on topics such as specific technical indicators and trader psychology.
They provide coverage on current economic and financial news with potential market impact, focusing on various financial assets like gold, the US dollar, bonds, and more. I was strongly impressed by Vantage’s proprietary trading app powered by the seamless TradingView. It offers a superior design with numerous functions, enabling easy market access and real-time monitoring of market trends for on-the-go position adjustments.
A few notable brokers such as Pepperstone, IC Markets, FXTM, AXI and Exness use this body to resolve disputes and on average claims take about 5 days to resolve. Of course, it’s always a good idea to hold only a fraction of your trading capital in any one trading account at one time. Next, there is the more recent MetaTrader5 (MT5), which is a more feature-rich version of MT4 and can be great for traders who need specific technical indicators or chart time frames. You can elect for an electronic funds transfer from an Australian Bank, or a BPay transfer, which will be fee-free but take a couple of days.
An example of one such trade would be a EUR/USD buy trade, meaning buying EUR and selling USD. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. Vantage offers its own proprietary trading app, alongside the standard MetaTrader suite of mobile apps. Vantage has built a decent foundation for a new mobile trading application with its Vantage App. However, I am not a fan of the ads, and it is still a long way off from competing with the best mobile apps in the industry.
Please read our legal documents and ensure you fully understand the risks before you make any trading decisions. Vantage is a global, multi-asset broker offering clients access to a nimble and powerful service for trading CFDs on Forex, Commodities, Indices, Shares. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry.
Compared to the broader industry, Vantage offers an average number of currency pairs and a high number of commodities, indices, share CFDs, and cryptocurrencies. Contracts for difference (CFDs) are derivatives used to speculate on the underlying asset’s price without physical delivery. For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.
For traders outside of those particular countries, your account will be regulated by Vanuatu’s VFSC (Vanuatu Financial Services Commission). Vantage is a member of The Financial Commission, https://limefx.group/ which is an independent dispute resolution body. Traders outside of the UK and Australia have more leverage, at the expense of their accounts being regulated by non-A-Grade regulators.
