In this article we give our assessment of Vantage Markets, covering its entities and regulation, account types, fees and platforms. If you decide to open an account, you can use our Vantage referral code IEUlc3lQ when signing up.
Vantage (formerly Vantage FX) was founded in 2009 in Sydney, Australia, where its ASIC-regulated entity is still based. It says it has more than 5 million registered users. It offers over 1,000 CFDs on forex, indices, commodities, shares, ETFs and bonds. Since January 2025 it has also been an official partner of the Scuderia Ferrari HP Formula 1 team.
Vantage is a group of companies licensed in different countries. The company that holds your account depends on where you live, and that choice decides your leverage, your access to bonuses and how well your money is protected. We cover every entity in the safety section below.
One point to establish upfront: Vantage is a CFD and forex broker. You never own the underlying shares, ETFs or bonds, which makes it suited to active trading rather than long-term investing.
Highlights
| 🌎 Supported countries | Most countries (not the US, Canada, India, China, Hong Kong, Singapore or sanctioned jurisdictions) |
| 💰 Trading fees | $0 commission on Standard STP, $3 per lot per side on Raw ECN and $1.50 per lot per side on Pro ECN |
| 📈 Spreads | From 1.0 pips on Standard STP and from 0.0 pips on Raw ECN and Pro ECN |
| 💰 Deposit and withdrawal fees | $0 (except international bank transfer withdrawals) |
| 💵 Minimum deposit | $50 ($10,000 for Pro ECN) |
| 📍 Products offered | CFDs on forex, indices, commodities, shares, ETFs and bonds |
| 🎮 Demo account | Yes |
| 📜 Regulators | FCA (UK), ASIC (Australia), FSCA (South Africa), FSC (Mauritius), CIMA (Cayman Islands), VFSC (Vanuatu) |
| 🎁 Promotions | Deposit bonus of up to 50% in eligible countries (referral code: IEUlc3lQ) |
Note that the entity serving you determines your protection. Clients of the FCA and ASIC entities get strict leverage limits and no bonuses, while the offshore entities in Mauritius, the Cayman Islands and Vanuatu allow much higher leverage with weaker safeguards. Confirm which applies before depositing.
Pros and cons
Pros
- Low commissions on the Raw ECN and Pro ECN accounts
- $50 minimum deposit on most accounts
- MetaTrader 4, MetaTrader 5, TradingView and its own app
- Copy trading built into the Vantage app
- Cent and swap-free accounts available
- Excess of Loss insurance of up to USD 1 million per eligible claimant
- Deposit bonus in eligible countries
Cons
- CFDs only (no real stocks, ETFs or bonds)
- Most international clients are served by offshore entities
- No licence in the European Union
- Not available in the US, Canada, India and several other countries
- Pro ECN requires a $10,000 deposit
Trading platforms
Vantage gives you a choice of six ways to trade: MetaTrader 4, MetaTrader 5, TradingView, the Vantage App, the browser-based Vantage Web Trading platform and copy trading. A demo account with virtual funds is available to test any of them before trading with real money.
MetaTrader 4 and MetaTrader 5 are available on desktop, web and mobile (iOS and Android). Both are geared towards experienced traders who want custom indicators, automated strategies (Expert Advisors) and one-click trading. MT5 is the newer version, with more timeframes and support for more asset classes. Vantage also offers a Forex VPS, an external server that keeps automated strategies running when your own computer is off.
TradingView is one of the most popular charting platforms, used by more than 50 million traders. You can connect your Vantage account and place orders directly from the charts, with over 15 chart types, more than 100 built-in indicators and alerts based on price or indicator conditions. You can find more information here.
The Vantage App brings trading, account management, deposits and withdrawals into one place on iOS and Android. It is also where most clients use copy trading, which lets you follow other traders and automatically mirror their positions. Signal providers can set a profit-sharing ratio of up to 50%, meaning they keep up to half of the profits they generate for the people copying them.
Before copying anyone, look at the provider’s full history, including drawdowns, rather than headline returns alone. A profit share of 50% is a large cut, and past performance says little about future results. You can read more about copy trading here.
Products and markets
Vantage offers more than 1,000 CFDs across these markets:
- Forex: 63 major, minor and exotic currency pairs
- Indices: spot and futures CFDs on major and minor indices
- Commodities: energy (WTI, Brent and natural gas), precious metals and soft commodities such as coffee and cocoa
- Share CFDs: companies listed in the US, UK, EU, Australia and Hong Kong
- ETFs and bonds, also traded as CFDs.
Physical stocks, ETFs and bonds are not available. Everything traded here is a derivative, meaning you gain price exposure without owning any underlying asset. The minimum trade size is 0.01 lots.
Maximum leverage depends on the entity that holds your account. On the offshore entities, Vantage offers leverage from 1:100 up to 1:2000 on all account types, subject to conditions set in the client portal. Under the FCA and ASIC entities, retail leverage is capped at 1:30 on major currency pairs, as both regulators require.
That gap is worth understanding rather than treating as a feature. The FCA and ASIC cap leverage precisely because higher levels reliably produce rapid losses among retail traders. UK and Australian clients cannot get 1:2000 because their regulators restricted that level of risk on purpose.
Account types
Vantage has three main live accounts. They differ mainly in how you pay for trades: wider spreads with no commission, or raw spreads plus a commission per lot.
| Account | Min. deposit | Spreads from | Commission |
| Standard STP | $50 | 1.0 pips | $0 |
| Raw ECN | $50 | 0.0 pips | $3 per lot per side |
| Pro ECN | $10,000 | 0.0 pips | $1.50 per lot per side |
Source: Vantage account pages, checked in October 2026.
The Standard STP account suits beginners and occasional traders: there is no commission, and Vantage’s fee is built into the spread. The Raw ECN account, Vantage’s most popular, shows the raw spread from its liquidity providers and charges $6 per standard lot round turn. For anyone trading more than a few times a week, it usually works out cheaper than Standard STP for the same $50 minimum.
The Pro ECN account halves the Raw ECN commission to $1.50 per lot per side. To get it, you fund your account with $10,000, close any open trades and email Vantage support to request the switch.
On the Standard STP and Raw ECN accounts, the margin call level is 50% and the stop out level is 20%.
There are also three other options:
- Cent account: your balance is shown in cents instead of dollars, from a $50 deposit, which helps beginners trade very small positions
- Swap-free account: no overnight swap charges, designed for traders whose religious beliefs prevent them from paying or receiving interest. An administration fee is charged on overnight positions instead
- Demo account: practice with virtual funds on any platform.
Fees and spreads
| Fee type | Fee value |
| Deposit fee | $0 (Neteller and Skrill charge their own fees) |
| Withdrawal fee | $0, except international bank transfers (20 units of the account currency) |
| Commission fees | $0 on Standard STP, $3 per lot per side on Raw ECN and $1.50 per lot per side on Pro ECN (forex) |
| Spreads | From 1.0 pips on Standard STP and from 0.0 pips on Raw ECN and Pro ECN |
| Overnight financing fees | Charged on positions held overnight (swap-free accounts pay an administration fee instead) |
Sources: Vantage commission page, deposit methods and Vantage Help Center, checked in October 2026.
Commissions are charged in the currency of your trading account. The table below shows what you pay per standard lot (100,000 units of the base currency), per side, when trading forex. A round turn (opening and closing a position) costs double.
Forex commission per lot, per side
| Account currency | Raw ECN | Pro ECN |
| USD | $3 | $1.50 |
| EUR | €2.50 | €1.50 |
| GBP | £2 | £1 |
| AUD | A$3 | A$2 |
| CAD | C$3 | C$2 |
| NZD | NZ$3.25 | NZ$2 |
| SGD | S$3.50 | S$1.50 |
| JPY | ¥275 | ¥175 |
| HKD | HK$25 | HK$15 |
| PLN | zł15 | zł7.50 |
Source: Vantage commission page, checked in October 2026.
Other products have their own commissions on the Raw ECN and Pro ECN accounts (round turn):
- Precious metals: $6 per lot on Raw ECN and $3 per lot on Pro ECN
- ETFs: $12 per trade
- UK and EU share CFDs: 0.1% per lot
- Australian share CFDs: 0.08% per lot, minimum $5 per trade
- Hong Kong share CFDs: 0.25% per lot, minimum $6 per trade.
On the Standard STP account there is no commission on forex, but Vantage adds a markup to the interbank spread, so your cost is the wider spread. Vantage notes that other fees may apply on this account.
Deposits are free and most are instant: Visa and Mastercard, Apple Pay and Google Pay, Neteller, FasaPay, JCB and Astropay. PayPal, Skrill, Perfect Money, bitwallet and Sticpay take up to 24 business hours. There are also local bank transfers in countries such as South Africa, Nigeria, Kenya, Ghana, Uganda, Malaysia, Thailand, Vietnam, the Philippines, Brazil, Mexico and Japan, plus international EFT (2 to 5 business days). The minimum for each top-up is $50.
Withdrawals are free except international bank transfers, which cost 20 units of your account currency according to Vantage’s global Help Center (150 HKD or 3,000 JPY for those currencies). The policy on the Australian site mentions a typical cost of about USD 25 for international wires. Your own bank may also charge intermediary fees.
Safety and regulation
Vantage operates through several companies, each with its own licence and website. The one that holds your account depends on your country of residence, and it is named in your client agreement.
| Entity | Regulator and licence | Website | Who it serves |
| Vantage Global Prime LLP | FCA (UK), FRN 590299 | vantagemarkets.co.uk | UK clients (CFDs and spread betting) |
| Vantage Global Prime Pty Ltd | ASIC (Australia), AFSL 428901 | vantagemarkets.com/en-au | Australian clients |
| Vantage Markets (Pty) Ltd | FSCA (South Africa), FSP 51268 | vantagemarkets.com | South African and international clients |
| VIG Group | FSC (Mauritius), licence GB20026165 | vantagemarkets.com | International clients |
| Vantage International Group Limited | CIMA (Cayman Islands), SIBL 1383491 | vantagemarkets.com | International clients |
| Vantage Global Limited | VFSC (Vanuatu), 700271 | vantagemarkets.com | International clients |
| Vantage Global Financial Services L.L.C | CMA (UAE), Category 5 | – | Introducer only, not a broker |
Sources: vantagemarkets.co.uk, vantagemarkets.com and Vantage Help Center, checked in October 2026.
The FCA (UK) and ASIC (Australia) are top-tier regulators. Clients of these two entities get leverage caps of 1:30 on major currency pairs, no trading bonuses and the protections set by local rules. The UK entity also offers spread betting, a product specific to the UK market.
The FSCA in South Africa is a mid-tier regulator. The FSC (Mauritius), CIMA (Cayman Islands) and VFSC (Vanuatu) are offshore regulators with lighter rules: they allow very high leverage and bonuses, but give clients far fewer safeguards and no compensation scheme comparable to those in the UK or Australia.
If you visit the international site from most countries, you will see VIG Group (FSC Mauritius) and Vantage Markets (Pty) Ltd (FSCA) in the footer. Vantage’s Help Center still lists the Cayman Islands and Vanuatu entities. Check which company is named in your client agreement before you deposit.
In July 2026, Vantage also received a Category 5 licence from the UAE Capital Market Authority for Vantage Global Financial Services L.L.C. This licence only allows the company to introduce clients. UAE residents still trade with one of the entities above. There is also a Cyprus company, V.I.S. Vantage Integrated Services Limited, which handles payment services for the group and does not offer trading.
Three other points are worth knowing:
- No EU licence: Vantage has no entity authorised in the European Union, so EU residents who sign up are served by an offshore entity, without the EU limits on leverage and bonuses. Italy’s regulator Consob has ordered the blocking of websites operating under the Vantage Global Limited name (vantage-markets.com in April 2024 and vantagemarkets.co in October 2026), which shows Vantage is not authorised to offer its services there
- Restricted countries: Vantage does not accept residents of the US, Canada, India, China, Hong Kong, Singapore and countries on the FATF blacklist or under international sanctions
- Dispute resolution: Vantage is a member of The Financial Commission, an independent body that handles disputes between forex brokers and their clients.
On the protection side, client money is held in segregated accounts, separate from Vantage’s own funds. Vantage also offers negative balance protection, so you cannot lose more than the money in your account.
For eligible clients, Vantage adds Excess of Loss insurance, arranged through Willis Towers Watson and underwritten by ARCH 2012 at Lloyd’s of London. It covers up to USD 1 million per eligible claimant if Vantage becomes insolvent, with a total limit of USD 50 million for all claims. The cover is subject to the policy’s terms and exclusions, so treat it as an extra layer rather than a guarantee. You can read more here.
Deposit bonus and promo code
In eligible countries, Vantage offers a deposit bonus of up to 50% on your first deposit. To get it, you opt in to the promotion in the client portal (facial recognition is required) and then make your deposit. The bonus is trading credit: it adds margin to your account, and the profits you make from trading can be withdrawn at any time.
The amount depends on your country of residence, and the bonus is not available to clients of the FCA and ASIC entities. You can check your eligibility on the deposit bonus page.
When you register, enter our referral code IEUlc3lQ in the “Referred by” field, or sign up directly through this link, which applies the code automatically. The code also gives you access to the deposit bonus where it is available. For step-by-step instructions and the current offers, read our Vantage Markets promo code guide.
A bonus increases the size of the positions you can open, and with it the size of your potential losses. It should never be the reason to open a leveraged trading account.
User reviews
Vantage has a rating of 4.4 out of 5 on Trustpilot, from more than 15,600 reviews. About 75% are five-star and 15% are one-star. Vantage invites its clients to leave reviews and replies to almost every negative one, usually within 24 hours.
Positive reviews mostly praise the customer support and fast deposits. Negative reviews focus on withdrawals. In October 2026, many clients reported withdrawals stuck for several days, and Vantage replied that processing was taking longer than usual due to system maintenance. If you open an account, start with a small deposit and test a withdrawal before adding more money.
Customer support is available 24/7 by phone, live chat and email.
Is Vantage a good broker?
Yes, for active CFD and forex traders who know which Vantage entity holds their account. It is a legitimate broker: it has been operating since 2009, it holds licences from two top-tier regulators (the FCA in the UK and ASIC in Australia) and it keeps client money in segregated accounts with negative balance protection.
Vantage is a good fit if you:
- Trade often: the Raw ECN account costs $6 per lot round turn from a $50 deposit, and Pro ECN halves that to $3 for deposits of $10,000
- Want platform choice: MetaTrader 4, MetaTrader 5, TradingView and the Vantage App all work with the same account
- Want to copy other traders: copy trading is built into the app
It is a weaker choice if you:
- Want to invest for the long term: Vantage only offers CFDs, so you never own real shares or ETFs
- Live outside the UK and Australia: you will most likely be served by an offshore entity, with lighter rules and fewer safeguards than under the FCA or ASIC
- Need fast withdrawals right now: many clients reported delayed withdrawals in October 2026, so test a small withdrawal before depositing more
Bottom line
Vantage Markets offers low commissions on its Raw ECN and Pro ECN accounts, a $50 minimum deposit and a wide choice of platforms, from MetaTrader and TradingView to its own app with built-in copy trading. The cent and swap-free accounts add flexibility for beginners and for traders who cannot pay interest.
However, your experience depends heavily on the entity that holds your account. UK and Australian clients are covered by the FCA and ASIC, while most other clients trade with offshore entities that offer high leverage and bonuses with fewer safeguards. Vantage also offers only CFDs, so it is not the place for long-term investing in real stocks or ETFs.
Hopefully, we made your choice of online brokers easier with this review. Happy trading!
FAQs
Is Vantage Markets legit?
Yes. Vantage was founded in 2009 and is regulated by the FCA in the UK and ASIC in Australia, plus the FSCA in South Africa and offshore regulators in Mauritius, the Cayman Islands and Vanuatu. Check which entity your client agreement names, because your protection depends on it.
Is Vantage Markets regulated?
Yes. Vantage has entities regulated by the FCA in the UK, ASIC in Australia, the FSCA in South Africa, the FSC in Mauritius, CIMA in the Cayman Islands and the VFSC in Vanuatu. The entity that holds your account depends on your country of residence.
What is Vantage's minimum deposit?
The minimum deposit is $50 for the Standard STP, Raw ECN, Cent and swap-free accounts. The Pro ECN account requires $10,000.
Which countries does Vantage not accept?
Vantage does not accept residents of the US, Canada, India, China, Hong Kong, Singapore and countries on the FATF blacklist or under international sanctions. The list can change, so check Vantage’s website before signing up.
Does Vantage have a demo account?
Yes, Vantage offers a free demo account with virtual funds on all its platforms.
Does Vantage offer a deposit bonus?
Yes, in eligible countries Vantage offers a deposit bonus of up to 50% on the first deposit. It is not available to clients of the FCA and ASIC entities.
How to open a Vantage account?
Head over to Vantage’s website and follow the onboarding process. You will need to provide some personal data and a valid ID to pass the KYC (Know Your Customer) checks, then fund your account with at least $50. You can enter our referral code IEUlc3lQ in the “Referred by” field when you register.
