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Vantage FX Broker Discussion

  • #21
  • Oct 30, 2012 5:20am Oct 30, 2012 5:20am
Yes. I have been running a multi-million dollar trading account for about 6 months now at Vantage FX. They are the best broker I have ever been with. I have no complaints. There is a commission but the spreads are much much lower than other brokers. Well worth it. Also, fund withdrawal is not a problem and I can sleep at night.
  • #22
  • Oct 30, 2012 8:53am Oct 30, 2012 8:53am
Quoting Jonster51
Yes. I have been running a multi-million dollar trading account for about 6 months now at Vantage FX. They are the best broker I have ever been with. I have no complaints. There is a commission but the spreads are much much lower than other brokers. Well worth it. Also, fund withdrawal is not a problem and I can sleep at night.

In your previous post you also stated
Quote
Security of funds is most vital since what is the point of making money if your 3rd world broker shuts down and runs away?
Yet if you read Vantage UK legal documents then you will quickly realize that you have no protection of segregated funds as they have the right to ship your funds offshore to someone else anywhere else in the world UNLESS you tell them in writing not to do that. Now how many traders have actually done that.

This is from their documents
"16.9 Unless the Customer has notified the Company in writing to the contrary, the Company may hold Segregated Funds on the Customer’s behalf in a Segregated Account located outside the United Kingdom or pass money held on the Customer’s behalf to an intermediate broker, settlement agent or OTC counterparty located outside the United Kingdom. The legal and regulatory regime applying to any such person will be different from that of the United Kingdom and in the event of the insolvency or any other equivalent failure of that person, the Customer’s money may be treated differently from the treatment which would apply if the money was held in a Segregated Account in the United Kingdom. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this clause.

I was looking to open an account with them but I did not like this clause at all.

Also not quite understanding their relationship with Enfinium, who is charged by the CFTC, was another concern.
  • #23
  • Oct 30, 2012 9:31am Oct 30, 2012 9:31am
Good point. I am with Vantage in Australia and not the UK.

Bottom line is that with ALL brokers you are taking a risk of some sort. I think that we can agree that Cyprus, the islands, Eastern Europe, Russia etc., are areas that you would never want to touch. Australia, UK. Canada, USA...... you are much safer to some degree but then again look at Lehman and MF Global. Some of the largest banks in the world are ticking time bombs with derivitive exposure. I can't think of not much more what to say.
  • #24
  • Oct 30, 2012 10:27am Oct 30, 2012 10:27am
Quoting Jonster51
Good point. I am with Vantage in Australia and not the UK.

Bottom line is that with ALL brokers you are taking a risk of some sort. I think that we can agree that Cyprus, the islands, Eastern Europe, Russia etc., are areas that you would never want to touch. Australia, UK. Canada, USA...... you are much safer to some degree but then again look at Lehman and MF Global. Some of the largest banks in the world are ticking time bombs with derivitive exposure. I can't think of not much more what to say.
I do agree with you on your fundamental point of using regulated brokers. I lost money to a non-regulated broker so after that I am only with regulated brokers with segregated funds.
  • #25
  • Oct 30, 2012 10:33am Oct 30, 2012 10:33am
Now that I think about it, you can always sign up with Vantage in Australia. No need to go to the UK. Like I said, I have over $2 million USD with them and I am comfortable. You can get your broker rep ( David ) anytime. I really cannot say enough about the top level of customer service from the Sydney branch. Give him a call and tell them that Jon from Canada was talking to you. Shop the spreads and compare prices. The Margin Call and Stops levels are very fair as well. Some broker will close ALL of your positions if you ever got in trouble but Vantage Meta 4 will only close them enough to get back into 50% equity.
  • #26
  • Oct 30, 2012 4:44pm Oct 30, 2012 4:44pm
Quoting ybfjax
They recently made their market watch time zone shift so that it is in line with NYC open/close times. This means 5 daily candlestick bars for the 5 days per week.

The VantageFX pro account has been excellent in my experience. not uncommon to see 0.4-0.6 pip spreads regularly on EURUSD and other majors and crosses have very discounted spreads. commissions $3.5 AUD per 100,000 units round turn. No technical errors and great fills.
NYC unreal. So am happy to hear they have sorted this out . Might send some funds back.

I was with Vantage Australia.

Thanks for the update.
  • #27
  • Oct 31, 2012 3:32am Oct 31, 2012 3:32am
Quoting ybfjax
They recently made their market watch time zone shift so that it is in line with NYC open/close times. This means 5 daily candlestick bars for the 5 days per week.

The VantageFX pro account has been excellent in my experience. not uncommon to see 0.4-0.6 pip spreads regularly on EURUSD and other majors and crosses have very discounted spreads. commissions $3.5 AUD per 100,000 units round turn. No technical errors and great fills.
Just had a look and the new Vantage platform looks great. In fact the best MT4 platform I have seen.
  • #28
  • Nov 9, 2012 5:38am Nov 9, 2012 5:38am
I'm still on the old Vantage Meta 4 just because it works for me and everything runs fine with it. Old habits die hard and why fix somehting that ain't broken!? LOL. I did download the demo of the new one and I guess someday I will make the switch. Vantage is the best brokers that I have found out there by far. I don't think anyone is going to regret going to them. The customer service is beyond great and out of all of them, the money is probably the safest there. Money dafety and no BS for funds transfers says a lot.
  • #29
  • Nov 9, 2012 7:35am Nov 9, 2012 7:35am
Quoting Jonster51
I’ve been a Vantage client trading a 7 figure account for a few months now and myself having been at 3 other Forex brokers over the past few years I have the following to say about Vantage FX in particular.

[font=Arial][size=3]The customer service is the very best. 1 of my previous brokers was crap customer service. Another one was o.k. and the 3rd one was very good but had bad spreads when I compared them to Vantage. But Vantage FX is the very best I must say. I would be surprised if anyone slanted or slighted...
I think you can forget about them improving the platform experience. Because no matter what they do, your opinion will still be the same (360 degree = 1 full circle).
  • #30
  • Nov 9, 2012 8:21am Nov 9, 2012 8:21am
Quoting palmy
I think you can forget about them improving the platform experience. Because no matter what they do, your opinion will still be the same (360 degree = 1 full circle).
And what does that means exactly ? Are we not allowed to voice our opinion about the brokers?
  • #31
  • Nov 10, 2012 3:55am Nov 10, 2012 3:55am
Quoting Jonster51
Now that I think about it, you can always sign up with Vantage in Australia. No need to go to the UK. Like I said, I have over $2 million USD with them and I am comfortable. You can get your broker rep ( David ) anytime. I really cannot say enough about the top level of customer service from the Sydney branch. Give him a call and tell them that Jon from Canada was talking to you. Shop the spreads and compare prices. The Margin Call and Stops levels are very fair as well. Some broker will close ALL of your positions if you ever got in trouble...
You have 2 Million USD with them ?! Buyer beware the Australian outfit will not protect you if the broker went down or run away with your money and please don't tell me it will not happen , everything is possible especially with forex brokers , according to the FSCS rules the UK outfit will protect you up to 50K pounds even if the broker run away .
  • #32
  • Nov 10, 2012 7:22am Nov 10, 2012 7:22am
And if ANY broker, ANYWHERE goes down.... you are not really protected. $3 BILLION dollars dissapeared from MF Global in the USA and no one goes to jail and nothing happens. It's incredible.

You are LESS LIKELY to get screwed in the regulated countries than you are the islands, Russia or Eastern Europe.

Nothing is guaranteed.



Quoting tar
You have 2 Million USD with them ?! Buyer beware the Australian outfit will not protect you if the broker went down or run away with your money and please don't tell me it will not happen , everything is possible especially with forex brokers , according to the FSCS rules the UK outfit will protect you up to 50K pounds even if the broker run away .
  • #33
  • Nov 10, 2012 8:07am Nov 10, 2012 8:07am
Quoting Jonster51
And if ANY broker, ANYWHERE goes down.... you are not really protected.
Not exactly , as i said earlier if your FSA regulated broker went down in the UK you are protected up to 50K pounds by the FSCS , and you are protected much more with US stocks brokers but that's not the place to discuss it ...
  • #34
  • Nov 10, 2012 8:58am Nov 10, 2012 8:58am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting tar
Not exactly , as i said earlier if your FSA regulated broker went down in the UK you are protected up to 50K pounds by the FSCS , and you are protected much more with US stocks brokers but that's not the place to discuss it ...
You are absolutely right. But it doesnt matter, I don't believe the 2 mio story as long as I don't see a verified mfb live acc. statement or get investor access to the account. Nobody with a healthy mind would risk such a sum on a mt4 broker with almost zero business history in a country w/o clients money protection regulation for the worst case...

High yield investors deal directly with banks, not with mt4 brokerage.

This story belongs in the The Comedy Club section of FF
  • #35
  • Nov 10, 2012 9:50am Nov 10, 2012 9:50am
The whole form is probably not even worth 2m. A MT4 license for 100k, a website and a few servers, some guys who fakepost on FF
Probably not even close.
  • #36
  • Nov 11, 2012 6:03am Nov 11, 2012 6:03am
There were two separate occassions last week where VantageFX live servers went down for about 15-30 minutes at a time for no apparent reason. I was trading the PRO account at the time. I can't say that this never happens to any broker. But it was the non-nonchalant attitude of the customer service that made me a bit uneasy. No notification to clients during this period regarding this rather blatant downtime.

Funny enough, I always know when the next promotion is coming up because those emails always reach my inbox.
Measure trends automatically with zero lag
  • #37
  • Nov 11, 2012 7:00am Nov 11, 2012 7:00am
Yes. The first time was a server issue and then the second time for what I was told was a a problem with one of the liquidity providers which is why some but not all of my Take Profit trades would not go thorugh. I got on the live help chat and righta way Matt from teh UK office called me. Shit happens everywhere and I of course was not too happy about it. But then again, they always offer to make compensation if you are out any money. Bottom line is that Vantage is a pretty good broker and I have no reason to leave them.



Quoting ybfjax
There were two separate occassions last week where VantageFX live servers went down for about 15-30 minutes at a time for no apparent reason. I was trading the PRO account at the time. I can't say that this never happens to any broker. But it was the non-nonchalant attitude of the customer service that made me a bit uneasy. No notification to clients during this period regarding this rather blatant downtime.

Funny enough, I always know when the next promotion is coming up because those emails always reach my inbox.
  • #38
  • Nov 11, 2012 7:04am Nov 11, 2012 7:04am
Quick question to you all.

Does anyone have a broker that they would say is BETTER than Vantage?

The spreadI'm presented on the USDCAD is about .08 - 1.4 plus of course the commission which together is still cheaper than what I have been abel to fill other places.

FXCM, Ava, Oanda, Citi, they are way more and they will trade against you.

I'm open to hearing about other potential brokers out there.

Thanks
John
  • #39
  • Nov 11, 2012 9:28am Nov 11, 2012 9:28am
Quoting Jonster51
FXCM, Ava, Oanda, Citi, they are way more and they will trade against you.


John
!! welcome to retail forex ...

I will go for IG , fxcm and Oanda all are represented in the UK (fscs protection ) ...
  • #40
  • Nov 12, 2012 7:28pm Nov 12, 2012 7:28pm
Hello traders,

Firstly, thank you all for your feedback.

Thank you for your positive feedback John but do give the new MT4 a try. We’re sure you’ll like the interface better on this update. If you need to download it again, please do so from here: https://www.vantagefx.com/get-trading/demo-account/

Vantage FX Australia is a Corporate Authorised Representative of Enfinium Pty Ltd (AFSL No. 322081), who acts as a licensee and outsource provider to oversee our compliance with Australian Financial Services Law and the requirements of holding segregated client funds at approved banks. As a financial services provider, Enfinium are regulated by Australian Securities and Investments Commission (ASIC) under Australian law. Vantage FX UK is also fully regulated by the Financial Services Authority (FSA) in the UK, registration number 501057.

You will find all of the information you need to know on our website by visiting http://www.vantagefx.com/about-us/legal-documents/

In trading with Vantage FX you will benefit from ASIC & FSA regulation, and the assurance that client funds are held in segregated trust accounts. You will be trading with a long-standing, award-winning provider – we have clients in more than 130 countries around the world.

As always, please direct all concerns directly to us at [email protected] rather than posting on this thread so you can receive a more immediate timely response. By contacting us directly, we are more able to assist you in resolving any issues you have. Support will respond to all emails within 24 hours. Alternatively you can always contact us directly on +61 1300 945 517 for immediate response 24 hours 5 days a week. For our international traders, we also have a Live Chat and Skype option to contact us.

Kind regards,
Vantage FX Team
Australian Forex Broker - Try a Vantage FX RAW ECN Account Today.
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