i would be weary doing business with vantage and its subsidiaries.
first off, the brand has quite a shady past. its original founder, Christian Dove was known for growing brokerages and then flipping it.
Track Record of Christian Dove:
Founded VantageFX
Sold VantageFX to Enfinium a Hong Kong conglomerate
Enfinium, got caught by ASIC for Virtual dealer plugin
Rebranded back again as VantageFX
Sold VantageFX to Chinese conglomerate MXT Global (now Vantage Global Prime)
Founded SynergyFX
Sold SynergyFX to ACY Securities, another Chinese conglomerate
Created Synergy Markets and guess he is currently growing it to flip it too.
second, ever since ASIC introduced Product intervention powers (PIP), Vantagefx has moved all its overseas clients offshore, this is despite no confirmation of PIP yet by ASIC. all other ASIC brokers are still accepting clients, except VantageFX. - and yet they had the audacity to submit response to ASIC's PIP when they have already moved clients offshore, jumping the gun? or a wolf in sheep's clothing pretending to fight for client's rights
because of this, many clients has left vantagefx.
it was also reported that vantagefx, used insider information from its profitable clients for personal trading.
(https://www.financemagnates.com/forex/brokers/asic-imposes-sanctions-vantage-fx-following-court-ruling/ (https://www.financemagnates.com/forex/brokers/asic-imposes-sanctions-vantage-fx-following-court-ruling/))
hence VantageFX, knowing that their original brand has taken a hit , has taken on a new strategy of onboarding clients, - creating subsidiaries.
VantageFX Australia
-------------------------------------------------
Vantage International Group
- Atom8
- VT Markets
- Vigco
- Vantagefx UK
- Vantagefx Fr
- Kilmex CM
- Vantage Prime
- a few others which i cant remember off the top of my head
basically, the strategy is to divest its branding with vantagefx as the parent company + all the suckers (i mean clients) that are non AU residents are not subjected to rigour regulatory oversight.
first off, the brand has quite a shady past. its original founder, Christian Dove was known for growing brokerages and then flipping it.
Track Record of Christian Dove:
Founded VantageFX
Sold VantageFX to Enfinium a Hong Kong conglomerate
Enfinium, got caught by ASIC for Virtual dealer plugin
Rebranded back again as VantageFX
Sold VantageFX to Chinese conglomerate MXT Global (now Vantage Global Prime)
Founded SynergyFX
Sold SynergyFX to ACY Securities, another Chinese conglomerate
Created Synergy Markets and guess he is currently growing it to flip it too.
second, ever since ASIC introduced Product intervention powers (PIP), Vantagefx has moved all its overseas clients offshore, this is despite no confirmation of PIP yet by ASIC. all other ASIC brokers are still accepting clients, except VantageFX. - and yet they had the audacity to submit response to ASIC's PIP when they have already moved clients offshore, jumping the gun? or a wolf in sheep's clothing pretending to fight for client's rights
because of this, many clients has left vantagefx.
it was also reported that vantagefx, used insider information from its profitable clients for personal trading.
(https://www.financemagnates.com/forex/brokers/asic-imposes-sanctions-vantage-fx-following-court-ruling/ (https://www.financemagnates.com/forex/brokers/asic-imposes-sanctions-vantage-fx-following-court-ruling/))
hence VantageFX, knowing that their original brand has taken a hit , has taken on a new strategy of onboarding clients, - creating subsidiaries.
VantageFX Australia
-------------------------------------------------
Vantage International Group
- Atom8
- VT Markets
- Vigco
- Vantagefx UK
- Vantagefx Fr
- Kilmex CM
- Vantage Prime
- a few others which i cant remember off the top of my head
basically, the strategy is to divest its branding with vantagefx as the parent company + all the suckers (i mean clients) that are non AU residents are not subjected to rigour regulatory oversight.