Vantage is a forex and CFD broker regulated by the Cayman Islands, Australian financial authorities and the Vanuatu Financial Services Commission.
Why choose Vantage
Its non-trading fees are very favorable (e.g. there is no inactivity fee). Opening an account at Vantage is super-fast (less than 5 minutes) and fully digital. The broker offers a great variety of deposit and withdrawal options, most of them free of charge.
On the negative side, the product portfolio is rather limited as the broker only offers forex and some CFDs to trade. Customer service could be better, especially the relevance of email responses. Lastly, Vantage provides investor protection only in the UK.
BrokerChooser gave Vantage a 4.2/5 rating based on analyzing 600+ criteria and testing via opening a live account.
Fees
Vantage has average forex trading fees and low non-trading fees, and does not charge an inactivity fee. On the negative side, financing rates and share CFD fees are relatively high.
Low FX fees
Vantage charges a forex commmission: $3.00 commission per lot per trade. Spread costs come on top of this, e.g. the EUR/USD spread is 0.1.
Average index CFD fees
All index CFD fees are built into the spread. For example, the spread for S&P 500 index CFDs is 0.4.
No inactivity fee, no withdrawal fee
It charges no account, inactivity, or deposit fees.
There is no fee for credit/debit card and electronic wallet withdrawals. One international bank withdrawal per month is also free of charge, while all subsequent withdrawals are charged 20 currency units of your account ($20, €20, etc.).
Safety
Vantage is a legit brokerage. It is regulated by multiple authorities and offers negative balance protection to clients. However, investor protection only applies in the UK, and the broker is not listed.
Deposit and withdrawal
Vantage has a great variety of deposit and withdrawal options, which are fast, easy, and mostly free. However, fees are high if you use international bank withdrawal more than once a month.
•Credit/Debit card available
•No deposit fee
•Quick deposit and withdrawal
•High fee for international bank withdrawals (after the first free one each month)