VantageFX Broker Review

VantageFX_logo

VantageFX is a relatively recent but motivating broker that allows traders to experience various kinds of trading instruments mostly related to Forex and binary options trading. However, at this point, we are only interested in the binary options opportunities offered by this broker.

So, is VantageFX a good choice when trading binary options? Let’s find out. 

Basic information:

Online since: 2009
Software: Metatrader4
Jurisdiction: Australia
Max Returns: 85%
Minimum Deposit: $100
Bonus: 100%
Minimum Investment: $10
Maximum Investment: none
Currencies: AUD, USD, GBP, EUR, SGD, JPY, NZD
Mobile: Yes
Countries: All Countries except the USA

Pros:

– very low minimum deposit
– easy mobile trading
– regulated broker

Cons:

– doesn’t accept US traders

Binary Minery Rating:

4,5 stars

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VantageFX Account Features

VantageFX appears to be a service that prefers a straightforward approach in relation to binary trading. The clients can find out that the broker has basically a single account type that is available for everyone. There is also the demo account, which is made for training purposes. The broker does not divide its clients by deposit possibilities. Here is what one can get from the demo and the live account with VantageFX:

Demo account

  • No deposit required as it offers virtual money. The demo account is made only for instructional and training needs;
  • The client will get $50,000 virtual funds;
  • The demo account includes all the important tools, functions and possibilities of a live account;
  • No return is available since it is all virtual;

Real account

  • The minimum deposit is $100;
  • There is a great promotion of $100 with the ‘Refer A Friend’ program;
  • There is no commission required by this broker;

It is essential to point out that this particular service does not provide any specific bonus for making the first deposit. Even so, VantageFX has some remarkable special offers that can generate great returns for the members who join the periodic programs. Previously, the clients were offered the opportunity to receive exclusive tool package, which included great devices like iWatch, financial literature, and so on. This method is quite exciting and unique among the binary brokers from the US and Europe.

The great thing about VantageFX is that the broker has transparent terms and conditions related to any form of promotion or the service as a whole, so the clients may sit and think prior to making any decision. If there are some cons that should be considered, the client would read and would get informed about it.

VantageFX Trading software

VantageFX is a multilateral broker, offering both Forex and binary trading conditions. Their Forex platform is the well-known Metatrader4, while for binary trading there is a web-based platform that is simple and intuitive. However, as a VantageFX client, one can easily download the MT4 Forex platform and install it on the desktop computer. In this way, it would be much easier to analyze the price action, put some indicators, make a decision, and so forth. Relying on the binary platform alone is not enough for a professional who knows how to handle trend indicators, oscillators, chart types, etc. If you are new to binary and Forex trading, it may require some time until you get used to analyzing charts on MT4, but it is much better to trade based on technical and fundamental analysis rather than predicting the price directions on your own.

VantageFX has some great features included in its platform. The clients may choose from the classic Call/Put options, one touch, boundary, and turbo options, also called short-term options. The expiry times may differ based on the chosen trading type and the accessible assets.

Their trading system includes the economic calendar with the most relevant events of the market, the news window, which is very helpful for fundamental analysis, and also the trading signals that may be considered especially by beginners. The broker follows the trends and it appreciated the great importance of mobile trading, so it offers a mobile version of its platform for iOS and Android devices. In this way, traders can enter the market from anywhere in the world and from any position they find themselves.

Screenshot

VantageFX_screenshots

VantageFX Support Information

Now, it is time to give some consideration to VantageFX’s customer support team. It was noted that their customer service offers adequate info to all the clients, especially the new ones. When entering on their website, the customer can see the live chat window on the bottom right side. Their agents come with a reply very promptly and offer the needed help. The VantageFX live chat performance was checked and the results were great. Besides the live chat options, the clients may also contact the broker’s team by phone, there are presented more phone numbers, and by email. It is up to you to choose a comfortable communication method.

The broker’s system along with the customer support service can be accessed in two languages, English and Chinese. Although it is clear that the broker’s main priority is Australia, it would not be bad to add some more major languages, such as German, French, or Spanish, as the broker is also available in many European countries, and there are many potential clients who would like to know more in their native language. The only country that restricts its citizens to deal with the broker is the USA. It is nothing about the broker itself; the US regulators don’t accept most of the binary brokers regulated by CySEC and other reputable regulators.

We should also mention that this broker has some great educational resources, which, together with the previously described demo account, may assist new clients in getting familiar with the basics of binary trading and the special features that make this broker unique.

VantageFX Banking and Company Information

The payment methods, both in and out, are quite secure with VantageFX. The clients may choose one of the proposed methods for withdrawing and depositing funds. When you register a live account, make sure you choose the comfortable currency. Here are the accepted currencies that come with each payment method:

– Credi/debit card (Visa, Mastercard): AUD, USD, GBP, EUR, SGD, JPY, NZD

– Bank wire transfer: AUD, USD, EUR, GBP, SGD, JPY, NZD

– Local wire: AUD (Australian citizens only)

– Bpay: AUD (Australian citizens only)

– Skrill: USD, GBP, EUR

– Neteller: USD, GBP, EUR, SGD, AUD

– Broker2Broker: AUD, USD, GBP, EUR, SGD, JPY, NZD

It is worth mentioning that the minimum deposit of this broker is only $100, which is a much lower limit when compared with the majority of binary brokers out there. Another great point is the fact that the broker does not put any limit on withdrawal, so the client may feel free to get his money whenever he wants. Considering the fact that traders usually collect a larger sum, this is a great advantage. You should also know that VantageFX does not impose any fees related to the payment done both in and out, yet you must be prepared to get some fees with the payment providers you choose. For example, the bank wire transfer may cost $25, and it has nothing to do with the broker. On the website, the clients may find all the fees related to Australian traders, but each client may verify this info with their payment provider separately.

At the bottom line, we have to mention probably one of the most important points: the broker is regulated by the Australian authority shortly called ASIC, and has the license AFSL 428901. This shows the reliability of the service. The broker is operated by Vantage Global Prime Pty Ltd.

Additional information

Customer Service: live chat, email, and by phone
Languages: English and Chinese
Trading Options: High / Low, One Touch, Boundary, Short Term
Assets: Currencies, Stocks Indices, Commodities
Expiry Times: 60 seconds to several weeks
Deposits and Withdrawals: Credit/debit card (Visa, MasterCard), bank wire transfer, Bpay, Skrill, Neteller, Broker2Broker
Withdrawal Time: 2 to 5 days
Demo account: Yes

Start trading

References/Further Reading:

  1. Quality Choice, Trade Policy, and Firm Incentives (James D. Reitzes)
  2. Trade-off Theory (Donald E. Campbell and Jerry S. Kelly)
  3. Portfolio Choice and Trading Volume with Loss‐Averse Investors (Francisco J. Gomes)
  4. Optimal order choice: evaluating uncertain discounted trading alternatives (Holly T. Horrigan, John K. Wald)
  5. Prediction Markets (Wolfers, Justin; Zitzewitz, Eric)
  6. Trade Credit and the Monetary Transmission Mechanism  (Marion Kohler, Erik Britton, Anthony Yates )
  7. Institutions and the Path to the Modern Economy: Lessons from Medieval Trade (Avner Greif)
  8. Motivating managers to make investment decisions  (Donald G. Heckerman)
  9. Intergenerational Trade, Longevity, and Economic Growth (Isaac Ehrlich and Francis T. Lui)
  10. Modeling Variation in Brand Preference: The Roles of Objective Environment and Motivating Conditions  (Sha Yang A. , Gerg M. Allenby , Geraldine Fennel)
  11. Tricks of the Trade: Motivating Sales Agents to Con Older Adults (Marguerite DeLiema, BS*, Yongjie Yon, MA and Kathleen H. Wilber)
  12. Trade, Growth, and the Environment (Copeland, Brian R.; Taylor, M. Scott)
  13. System and method for motivating submission of conditional purchase offers (Jay S. Walker, T. Scott Case, Tracy Hartmann, Daniel E. Tedesco)
  14. Optimal Obfuscation: Democracy and Trade Policy Transparency (DANIEL Y. KONO)
  15. Trade Liberalisation and Economic Performance: An Overview (L Alan Winters)
  16. Rules of Origin under the North American Free Trade Agreement: A Substantial Transformation into Objectively Transparent Protectionism (Joseph LaNassa)
  17. Should securities markets be transparent?  (Ananth Madhavan, David Porter, Daniel Weaver)
  18. International Environmental Indicators: Trade, Income and Endowments (Robert E. B. Lucas)
  19. The relevance of the value relevance literature for financial accounting standard setting: another view (Mary E Bartha, William H Beaver, Wayne R Landsman)
  20. The Impact of Trading Commission Incentives on Analysts’ Stock Coverage Decisions and Earnings Forecasts (Rachel M. Hayes)

Binary Minery review: VantageFX: 4,5 stars

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