Vantage is a reputable forex and CFD broker that is regulated by the Cayman Islands, Australian financial authorities, and the Vanuatu Financial Services Commission. The company stands out for its favorable non-trading fees, including a notable absence of inactivity fees. Opening an account with Vantage is an efficient and rewarding experience, with a seamless fully digital process that takes less than 5 minutes. Moreover, the broker offers a wide range of deposit and withdrawal options, with the majority being free of charge. However, it is worth noting that Vantage’s product portfolio is somewhat limited, primarily focusing on forex and a few CFDs. Additionally, while the broker’s customer service is satisfactory, there is room for improvement in terms of the relevance of email responses. It is also important to highlight that investor protection is only provided in the UK.
Account Opening
Score: 5/5
Vantage excels in the account opening process, offering a quick and fully digital experience. The broker lives up to its promise of opening an account in less than 5 minutes, a claim that we have successfully verified.
Pros
- Fast: Vantage ensures a quick and efficient account opening process, allowing traders to dive into trading activities without unnecessary delays.
- Fully digital: With Vantage, you can complete the entire account opening process online, eliminating the hassle of dealing with physical paperwork and saving valuable time.
- Low minimum deposit: Accessibility is a key feature of Vantage, as it offers a low minimum deposit requirement of $50, accommodating traders with different budget levels.
Web Trading Platform
Score: 4.5/5
Vantage web trading platform is powered by the renowned MetaTrader platform. It boasts high customizability, multilingual support, and a transparent fee report. However, the platform lacks a two-step login for enhanced security and its design may appear outdated to some users.
Pros
- Transparent fee report: Vantage web trading platform equips traders with a comprehensive fee report, enabling them to easily track and comprehend their trading costs.
- Customizability (charts, workspace): Traders can personalize their trading experience on Vantage web trading platform through the flexible customization options available for charts and workspace.
- Order confirmation: Vantage web trading platform offers order confirmation, providing traders with complete visibility and control over their trades.
Cons
- Lack of two-step login: Traders should be aware that Vantage web trading platform does not offer a two-step login feature, which may raise security concerns for certain individuals.
- Absence of price alerts: The platform’s absence of price alerts may impact the convenience of staying updated on market movements for traders who heavily rely on such notifications.
- Outdated design: Some traders may find Vantage web trading platform design to be outdated and less visually appealing compared to more modern alternatives.
Mobile Trading Platform
Score: 3.8/5
Vantage offers a well-designed and user-friendly mobile trading platform that offers a range of useful functionalities. However, it lacks the convenience of face ID login, which could provide an added level of security and ease of use.
Pros
- User-friendly: Vantage mobile trading platform is specifically designed to be user-friendly, catering to traders who prefer to trade on the go.
- Two-step login: To ensure maximum account security, Vantage mobile trading platform offers a two-step login feature that adds an extra layer of protection.
- Efficient search function: The platform’s search function allows traders to quickly find specific assets or information, enhancing the overall trading experience.
Cons
- No price alerts: Vantage mobile trading platform does not include price alerts, necessitating manual monitoring of market movements for timely decision-making.
- Lack of Touch/Face ID login: The absence of Touch/Face ID login functionality on Vantage mobile trading platform might discourage traders seeking the convenience and enhanced security of biometric authentication.
Desktop Trading Platform
Score: 3.4/5
Vantage desktop trading platform, built on the widely used MetaTrader 4, offers similar features to the web platform, including the ability to set price alerts.
Pros
- Transparent fee report: Vantage desktop trading platform provides traders with a transparent fee report, empowering them to effectively manage and monitor their trading costs.
- Customizability (charts, workspace): The desktop trading platform offers traders the flexibility to customize charts and workspace to align with their individual preferences and trading strategies.
- Price alerts: Vantage desktop trading platform enables traders to set price alerts, ensuring they receive timely notifications about significant market movements.
Cons
- No two-step login: The absence of a two-step login feature on the desktop trading platform may be a concern for traders who prioritize enhanced security measures.
Markets and Products
Score: 2.2/5
Vantage focuses primarily on forex and CFD trading, encompassing commodities, stock indices, shares, and cryptocurrencies. However, other popular asset classes such as real stocks and ETFs are not currently available on the platform.
Customer Service
Score: 3.5/5
Vantage offers several customer service channels, though there is room for improvement in terms of responsiveness and relevance. Live chat response times tend to be slower, while the quality of email responses may vary in terms of relevance. It is worth mentioning that Vantage customer service is not available 24/7, potentially hindering accessibility and support outside of regular business hours.
Pros
- Live chat support: Vantage provides live chat support, allowing traders to seek real-time assistance with their inquiries.
- Relevant phone support: When contacting Vantage customer service via phone, traders can expect to receive relevant and helpful answers to their questions.
Cons
- Limited support hours: It is important to note that Vantage customer service is not available 24/7, which could restrict accessibility and support during off-peak hours.
- Inconsistent email support: While Vantage offers email support, the quality of responses may be inconsistent, sometimes lacking relevant answers or timely responses.
Conclusion
To summarize, Vantage is a regulated forex and CFD broker that offers attractive features such as favorable non-trading fees and a seamless account opening experience. The broker’s web trading platform, powered by MetaTrader, provides extensive customizability and a transparent fee report. However, some drawbacks include the lack of a two-step login feature and an outdated platform design. The mobile trading platform offers convenience and user-friendliness, but it could benefit from the inclusion of price alerts and Touch/Face ID login options. While Vantage desktop trading platform allows for price alerts, it, too, lacks a two-step login feature. The product portfolio is limited to forex and select CFDs, excluding popular asset classes such as real stocks and ETFs. Customer service could be improved, particularly in terms of response times and the relevance of email support. It is important to note that investor protection is only offered in the UK. In conclusion, Vantage is a viable option for traders seeking a beginner-friendly trading experience with low non-trading fees, seamless account opening, and a diverse range of deposit and withdrawal options.