VantageMarkets Review (2023) – Is Vantage Markets trustworthy?

In this VantageMarkets Review, we delve into the operations of Vantage Markets, a notable multi-asset contract for difference (CFD) broker previously known as Vantage FX. With over a decade in the market, Vantage Markets has carved a niche for itself in the financial sector by offering various online trading services. Our review aims to provide an objective and comprehensive analysis of this Forex, Crypto, and CFD broker, from its platform offerings to customer support, pricing transparency, and more.

Vantage is a trading name of Vantage Markets (Pty) Ltd, regulated by the Financial Sector Conduct Authority of South Africa, and Vantage Global Limited, authorized and regulated by the Vanuatu Financial Services Commission. They also have an entity, Vantage Global Prime Pty Ltd, regulated by the Australian Securities and Investments Commission.

VantageMarkets Review of Services

Vantage is a global multi-asset broker that offers a broad range of trading services. These include trading in Contract for Differences (CFDs) on various assets such as Forex, Commodities, Indices, and Shares.

Crypto and CFDs

Vantage also offers the option to trade in Cryptocurrency CFDs. With Vantage, clients can buy and sell cryptocurrency CFDs by predicting their potential price movements without owning the coin. More than 40 crypto coins, including Bitcoin, Ethereum, Solana, Dogecoin, Cardano, XRP, and other Altcoins, are available for trading.

In addition to Cryptocurrency, Vantage offers CFD trading in commodities, indices, and shares. This gives traders the ability to speculate on price movements in these markets without needing to own the underlying asset.

MetaTrader Integration

Vantage uses the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.

MetaTrader is well-known for its user-friendly interface, advanced charting capabilities, technical analysis tools, and the ability to use automated trading systems known as Expert Advisors (EAs).

MetaTrader 4 (MT4) is one of the most popular trading platforms globally due to its user-friendly interface and wide range of functionalities. It supports all types of orders, including market orders, pending orders, stop orders, and trailing stops. It also allows for one-click trading directly from the chart. MT4 offers a comprehensive selection of analytical tools and indicators for technical analysis, and it supports algorithmic trading using Expert Advisors (EAs).

MetaTrader 5 (MT5) is a more advanced platform than MT4. Besides sharing many features with MT4, MT5 has a wider selection of timeframes, indicators, and graphical objects. It also includes an integrated Economic Calendar and supports trading with stocks and futures. MT5 is designed to handle more complex trading strategies and features a depth of market and exchange execution-type orders.

MetaTrader Suite and Smart Trader Tools

The MetaTrader Suite at Vantage, which includes both MT4 and MT5, comes packed with features designed to help traders in their analysis and decision-making process. Both platforms support algorithmic trading through EAs, enabling the automatic execution of trades based on pre-programmed strategies.

The Smart Trader Tools on Vantage is a suite of expert-like tools designed to help traders of all levels to enhance their trading activities. It includes tools like trade terminal, connect, correlation matrix, sentiment trader, etc. These tools help in improving order execution speed, providing insightful market analysis, and enhancing risk management strategies.

VantageMarkets Reviews and Feedback

User sentiments about Vantage Markets appear to be mixed.

As of July 2023, on Trustpilot, the platform has an average rating of 3.5 out of 5, indicating a relatively balanced mix of positive and negative reviews.

The rating distribution is as follows: 62% of users gave a 5-star rating, 14% gave a 4-star rating, 4% gave a 3-star rating, 3% gave a 2-star rating, and 17% gave a 1-star rating.

Positive sentiments focus on the user-friendly nature of the application, the informative nature of the platform, and the helpfulness of customer support.

Common praises among users include the platform’s user-friendly interface, the amount of in-depth information available about the stock market, the efficiency of the copy trading system, and the quality of customer support. Some users also appreciated the platform’s bonuses and promotions.

On the other hand, common criticisms focus on technical issues with the platform. Some users reported experiencing server speed issues, where the server would freeze while calculating trades in real-time.

Negative sentiments center around issues related to trade execution, server speed, and the withdrawal process.

Some users reported experiencing problems with the platform. The most notable issue pertains to withdrawal delays, with one user stating that their withdrawal status had remained ‘processing’ for nearly a week despite numerous contacts with customer support. This issue caused significant frustration and a loss of trust in the platform.

Another user reported that the platform arbitrarily closed their limit purchase trades, causing them to lose a significant amount of money.

The company appears responsive to negative reviews, which indicates a commitment to customer service. However, the effectiveness of their responses and how these issues are actually resolved is unclear.

VantageMarkets Legitimacy and Regulation

The company is based in Australia and is regulated by the Australian Securities and Investments Commission (ASIC).

They also have a subsidiary in the Cayman Islands regulated by the Cayman Islands Monetary Authority (CIMA).

Costs and Fees

Vantage operates on a business model that involves minimal spreads and no internal charges on deposits or withdrawals. This approach enhances the trading experience by reducing cost barriers and giving traders access to highly competitive spreads.

However, it is worth noting that international bank transfers might incur a minimum processing fee of 20 units of your account base currency. Vantage covers this fee for the first transfer of each month, ensuring that you can trade freely and effectively.

The minimum deposit requirement at Vantage stands at $50. This relatively low threshold makes the platform accessible to new and seasoned traders alike, regardless of their trading budget.

It’s an ideal entry point for beginners who are just starting out in the trading world and want to gain experience without investing large sums of money initially.

Experienced traders, on the other hand, can use the low deposit requirement to diversify their trading portfolio.

VantageMarkets Review of Customer Support

Vantage offers an impressive array of customer support options that cater to various client needs and preferences. Their support channels are available 24 hours a day, 7 days a week, suggesting a high level of dedication to customer service.

Clients can contact Vantage via email at various addresses based on their specific needs, whether general inquiries, media relations, marketing, or partnership opportunities.

They also provide a phone number for immediate communication and a live chat feature for quick, real-time support.

For those onboarding from specific regions, such as the UK or Australia, Vantage has dedicated phone lines and email addresses. Such geographical differentiation of service channels not only ensures clients receive support tailored to their locale but also likely leads to more efficient issue resolution.

Benefits and Drawbacks

Pros

1. Wide Range of Instruments: Vantage Markets offers a broad array of CFD instruments spanning various asset types, providing traders with ample choice and diversification opportunities.
2. Global Presence: With over 30 global offices and a team of over 1000 staff, Vantage has a strong global footprint, bringing a wealth of international market knowledge and expertise.
3. User-Friendly Platform: Vantage offers trading on the popular and user-friendly MT4/MT5 platforms, which is a plus for novice and experienced traders.
4. 24/7 Customer Support: Vantage provides round-the-clock customer support through various channels, including email, phone, and live chat, ensuring assistance is always available.
5. Low Minimum Deposit: With a minimum deposit requirement of just $50, Vantage makes trading accessible to many investors.

Cons

1. Regional Restrictions: Vantage does not offer services to residents of certain jurisdictions, such as Canada, China, Romania, Singapore, and the United States, and jurisdictions on the FATF and EU/UN sanctions lists.
2. Trading Derivatives Risks: Trading derivatives carries significant risks and is not suitable for all investors, a factor that might deter some potential clients.

VantageMarkets Review: Conclusion

Based on our VantageMarkets Review, Vantage Markets appears to offer a solid, reliable, and trustworthy trading platform. The company has a strong global presence with over 10 years of market experience and a robust staff base across 30 global offices. Its provision of popular trading platforms like MT4/MT5, a wide range of CFD trading instruments, and 24/7 customer support demonstrates its commitment to catering to various trading needs.

Vantage Markets is regulated by multiple financial authorities worldwide, including the ASIC, VFSC, and FSCA. This regulation, coupled with its adherence to AML policies and data protection norms, should give clients a certain degree of confidence in the platform’s credibility and trustworthiness. However, the lack of transparency in trading spreads and fees may be a concern.

VantageMarkets Review Bottom Line

For the globally-minded, diverse, and risk-tolerant trader, Vantage Markets brings several compelling advantages. Its wide range of instruments, user-friendly platforms, and 24/7 customer support provide an environment conducive to varied and continuous trading. The low minimum deposit makes it highly accessible, even for those new to trading or with limited funds.

However, it’s important for traders to carefully consider their risk tolerance, particularly when dealing with derivatives, due to their inherent risks. More conservative investors might be cautious about engaging with Vantage’s offerings. Furthermore, the geographical restrictions might limit the accessibility of Vantage’s services for potential traders in the restricted areas.

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