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Vantage FX Broker Discussion

  • #101
  • May 19, 2016 2:56am May 19, 2016 2:56am
Hi VantageFX
Couldn't help but notice that your Risk Disclaimer at the bottom of your webpage says that you are a "Corporate Authorised Representative of Vantage Global Prime".Does this mean you have links to Global Prime?

Thanks,
DS
  • #102
  • May 20, 2016 12:23am May 20, 2016 12:23am
Quoting Doji Star
Hi VantageFX Couldn't help but notice that your Risk Disclaimer at the bottom of your webpage says that you are a "Corporate Authorised Representative of Vantage Global Prime".Does this mean you have links to Global Prime? Thanks, DS
Hey Doji Star,

Vantage FX is the retail trading arm of the larger Vantage Prime Group.

The retail forex broker known as 'Global Prime' has nothing to do with Vantage FX or the Vantage Prime Group.

Hope that clears up your question.
Australian Forex Broker - Try a Vantage FX RAW ECN Account Today.
  • #103
  • May 20, 2016 1:26am May 20, 2016 1:26am
Quoting Vantage FX
{quote} Hey Doji Star, Vantage FX is the retail trading arm of the larger Vantage Prime Group. The retail forex broker known as 'Global Prime' has nothing to do with Vantage FX or the Vantage Prime Group. Hope that clears up your question.
Thanks for that VantageFX. It does clear that up. Not that there's anything wrong with GP. They're a good broker imo.

I'm seriously thinking of opening an account with Vantage. Looks like you guys are doing a good job You tick all the right boxes,viz., regulation, decent spreads, VPS incentive, newsfeed, etc. but I have a couple more questions.

1) Of your funding options, which ones are cheapest? A lot of brokers charge a 3% credit card charge on deposit, for example. Is it the same with Vantage?
2) Will you be offering other methods of withdrawal other than Bank Wire at any time in the future?

Look forward to your reply. Thanks in advance.
DS
  • #104
  • May 20, 2016 2:20am May 20, 2016 2:20am
Quoting Doji Star
{quote} Thanks for that VantageFX. It does clear that up. Not that there's anything wrong with GP. They're a good broker imo. I'm seriously thinking of opening an account with Vantage. Looks like you guys are doing a good job You tick all the right boxes,viz., regulation, decent spreads, VPS incentive, newsfeed, etc. but I have a couple more questions. 1) Of your funding options, which ones are cheapest? A lot of brokers charge a 3% credit card charge on deposit, for example. Is it the same with Vantage? 2) Will you be offering other methods of...
No worries!

Funding - We have a few options you can see on our funding page. Depending on the credit card you will a cop a fee, but we will refund them, so just make sure you contact us after it hits your account.

Withdrawal - Anything deposited on a credit card has to be 'refunded' back to the same credit card when you make a withdrawal. Profits on top of the original amount can be withdrawn into your regular bank account. Same goes for Skrill, Neteller etc.
Australian Forex Broker - Try a Vantage FX RAW ECN Account Today.
  • #105
  • May 20, 2016 3:59am May 20, 2016 3:59am
Quoting Vantage FX
{quote} No worries! Funding - We have a few options you can see on our funding page. Depending on the credit card you will a cop a fee, but we will refund them, so just make sure you contact us after it hits your account. Withdrawal - Anything deposited on a credit card has to be 'refunded' back to the same credit card when you make a withdrawal. Profits on top of the original amount can be withdrawn into your regular bank account. Same goes for Skrill, Neteller etc.
Thanks. Have a great w/end.
  • #106
  • Edited 6:10am May 24, 2016 4:45am | Edited 6:10am
Hi VantageFX
Hope you had a good weekend. have a few more questions for you. I wouldn't be asking if I didn't consider your brokerage worth investing with.
For someone looking to open a PAMM account with you, I know there is a min deposit of $10000, but...
1-is it true that you can open a PAMM account through an IB?
2-is there a minimum number of sub-accounts one must have for that PAMM account? I know IC Markets insists on 5 sub-accounts or no PAMM.
3-do potential 'clients' only need to sign a LPOA or is there more to it?
4- would I be able to open a PAMM account and make use of your 8.88% interest promo on the Master account? if, yes, does the 8.88% only apply to the initial deposit or to additional deposits thereafter? I do know you can't sign up for the 8.88% promo through an IB.
Pardon my ignorance when it comes to PAMM. Just thought I'd ask you directly while you're here to be asked.
Thanks,
DS
  • #107
  • Jun 4, 2016 10:24am Jun 4, 2016 10:24am
Vantagefx appears to be ok, at least because of its multiple regulations
But I was dissapointed in them after filling form to open account, submitting my passport and bank statement. Only for them to reply me they were not accepting new account opening form Nigeria.
They should have boldly written this on their website, instead of collecting my email and documents before telling me.

Well, they may be good for those from other countries.
  • #108
  • Jun 4, 2016 6:40pm Jun 4, 2016 6:40pm
Quoting felixomor
Vantagefx appears to be ok, at least because of its multiple regulations But I was dissapointed in them after filling form to open account, submitting my passport and bank statement. Only for them to reply me they were not accepting new account opening form Nigeria. They should have boldly written this on their website, instead of collecting my email and documents before telling me. Well, they may be good for those from other countries.
Eightcap is another Australian broker you could contact. I been using them for a while now no issues.
  • #109
  • Jun 5, 2016 5:30pm Jun 5, 2016 5:30pm
Quoting LuKa12
{quote} Eightcap is another Australian broker you could contact. I been using them for a while now no issues.
I will check them up, thanks.
  • #110
  • Jun 8, 2016 11:37pm Jun 8, 2016 11:37pm
Quoting felixomor
Vantagefx appears to be ok, at least because of its multiple regulations But I was dissapointed in them after filling form to open account, submitting my passport and bank statement. Only for them to reply me they were not accepting new account opening form Nigeria. They should have boldly written this on their website, instead of collecting my email and documents before telling me. Well, they may be good for those from other countries.
Hey felixomor,

Unfortunately Nigeria is on one of our blacklisted countries due to international money transfer problems out of, and back into the country.

Thanks for the feedback on our sign up processes, we'll be addressing these.

Quoting LuKa12
{quote} Eightcap is another Australian broker you could contact. I been using them for a while now no issues.
Hey LuKa12,

Why EightCap for Nigerian clients? Just seems a totally out of left field recommendation?
Australian Forex Broker - Try a Vantage FX RAW ECN Account Today.
  • #111
  • Jun 8, 2016 11:59pm Jun 8, 2016 11:59pm
Quoting Doji Star
Hi VantageFX Hope you had a good weekend. have a few more questions for you. I wouldn't be asking if I didn't consider your brokerage worth investing with.

For someone looking to open a PAMM account with you, I know there is a min deposit of $10000, but...
Quoting Doji Star
1-is it true that you can open a PAMM account through an IB?
Yes, you can open a PAMM account through an IB.

Quoting Doji Star
2-is there a minimum number of sub-accounts one must have for that PAMM account? I know IC Markets insists on 5 sub-accounts or no PAMM.
There is no minimum number of sub accounts, but a minimum of $10,000 total is advised.

Quoting Doji Star
3-do potential 'clients' only need to sign a LPOA or is there more to it?
No, an LPOA is all the clients need.

Quoting Doji Star
4- would I be able to open a PAMM account and make use of your 8.88% interest promo on the Master account? if, yes, does the 8.88% only apply to the initial deposit or to additional deposits thereafter? I do know you can't sign up for the 8.88% promo through an IB.
The 8.88% interest rate would be applied to the sub accounts, not the master.

All deposits on a monthly basis, so long as you have traded the volumes set out in the table here: https://www.vantagefx.com/interest-promotion/

You are correct that if the account is opened through an IB, then you are ineligible for the 8.88% interest rate on your balance.
Australian Forex Broker - Try a Vantage FX RAW ECN Account Today.
  • #112
  • Jun 24, 2016 7:28am Jun 24, 2016 7:28am
Hi Vantagefx,
I was open account since 2012 until now, every time I could not open trade when there have big news come up, like this BREXIT day , the server freeze, and my profit become losses, EUR and GBP both pair cannot open to trade. we are retail trader waiting this good opportunity day to trade, but your stop us to trade these both pair, we are all know to place stop loss to protect our capital. as you can see other forex broker still open these two pair to trade, why don't you. this is unfair to client.
Your sever should be increase more, not only two, server live 1 and server live 2 only.
I consider transfer my fund to XM forex broker, I already open a live account with them, they have 14 server to execution in second only, best service and fast enough.
If you still no increase your service , more client will move to onother broker like me.
Regards.
Peter
  • #113
  • Jun 28, 2016 5:42am Jun 28, 2016 5:42am
Here is another client from Vantagefx Aus p.m me recently??
Attached Image (click to enlarge)
Click to Enlarge Name: complain vantagefx.png Size: 114 KB
  • #114
  • Jun 29, 2016 8:32pm Jun 29, 2016 8:32pm
Quoting fxpsas
Here is another client from Vantagefx Aus p.m me recently?? {image}
VFX has been known to do that for quite some time. Lesson learnt.
Shit Happens
  • #115
  • Jul 4, 2016 12:02am Jul 4, 2016 12:02am
Vantage FX basically spammed my inbox with warnings about their margin changes and to expect zero liquidity in the market.

Why the heck did you keep orders? Honestly, what other outcome did you expect under those conditions?

Did you watch the market gap down after every count didn't align with the polled prediction? There was ZERO liquidity.

That is your fault and your fault only.
  • #116
  • Jul 5, 2016 12:34am Jul 5, 2016 12:34am
Quoting fxpsas
Hi Vantagefx, I was open account since 2012 until now, every time I could not open trade when there have big news come up, like this BREXIT day , the server freeze, and my profit become losses, EUR and GBP both pair cannot open to trade. we are retail trader waiting this good opportunity day to trade, but your stop us to trade these both pair, we are all know to place stop loss to protect our capital.
Peter,

We did change high risk pairs (including GU and EU) to close only over the Brexit vote. This was clearly communicated with clients across multiple channels. This was done for the protection of our clients and the firm itself, not to take advantage of anyone.

Liquidity was razor thin throughout the vote and there was no way that our liquidity providers were going to have prices for pending orders such as stop losses to be triggered at, making your stop loss essentially useless. As an ECN broker, we cannot guarantee prices if they are not in the market so took this measure to protect clients on our book.


Quoting fxpsas
as you can see other forex broker still open these two pair to trade, why don't you. this is unfair to client.
Our risk management team made the call to communicate with clients multiple times in the lead up, warning of the restrictions we were imposing and encouraging clients to stay out of the market.

Many of the other reputable ECN brokers in our industry made similar calls in regard to margin requirements. Only market makers could guarantee you a price or a stop-loss level. Something that our business model as an ECN broker does not allow.


Quoting fxpsas
Your sever should be increase more, not only two, server live 1 and server live 2 only. I consider transfer my fund to XM forex broker, I already open a live account with them, they have 14 server to execution in second only, best service and fast enough. If you still no increase your service , more client will move to onother broker like me. Regards. Peter
Having Vantage FX servers in major regional centres of Sydney and London (with data centres across Asia) services our client base effectively and does NOT affect execution speeds.

The layout and strategic infrastructure choices has actually meant we have avoided multiple major server issues that other brokers have experienced in the past.
Australian Forex Broker - Try a Vantage FX RAW ECN Account Today.
  • #117
  • Jul 5, 2016 12:49am Jul 5, 2016 12:49am
Quoting act333
{quote} VFX has been known to do that for quite some time. Lesson learnt.
As an ASIC regulated ECN broker, Vantage FX takes pride in transparency.

Vantage FX DID NOT exploit our own client base over Brexit and implemented the previously discussed risk management procedures to ensure that both trader and broker lived to trade another day.

We are proud of how our risk management team handled things over the Brexit vote. Their cautious approach proved to be the correct one as the vote defied expectations and without our measures, many traders would have blown their accounts.

If you would like to get in contact with us and discuss your individual situation outside an anonymous forum, please don't hesitate to give us a call (during Australian business hours) on +61 2 8999 2044.
Australian Forex Broker - Try a Vantage FX RAW ECN Account Today.
  • #118
  • Jul 15, 2016 12:15am Jul 15, 2016 12:15am
Quoting fxpsas
Hi Vantagefx, I was open account since 2012 until now, every time I could not open trade when there have big news come up, like this BREXIT day , the server freeze, and my profit become losses, EUR and GBP both pair cannot open to trade. we are retail trader waiting this good opportunity day to trade, but your stop us to trade these both pair, we are all know to place stop loss to protect our capital. as you can see other forex broker still open these two pair to trade, why don't you. this is unfair to client. Your sever should be increase more,...
Lost money trading over Brexit...

It's kind of sad someone would sign up to this forum just to bag your broker when obviously he was the one that made the mistake. Typical retail.

Maybe try the casino next time? You can then sign up to CasinoFactory.com to complain that the casino didn't tell you about the 00 on the wheel

You had a punt trying to trade over Brexit and you lost. Take some responsibility for your own actions instead of blaming everyone but yourself.
  • #119
  • Aug 9, 2016 10:41pm Aug 9, 2016 10:41pm
Hi,

I have just opened a new account with VantageFX. I was checking the deposit options. It takes 1=2 business days for Skrill/Moneybookers transfers to be credited in my account. I was unhappy to see that. I had assumed deposits by Skrill would be instant and had not checked the details. I know some other brokers can make this process instantly.

Best,
No pain no gain
  • #120
  • Edited Aug 12, 2016 2:18pm Aug 10, 2016 11:06pm | Edited Aug 12, 2016 2:18pm
Highly NOT recommend this broker (VantageFX), lure you something, such as 8.88% interest annual, but spread is not what they declared at most of time. During the news time or fast movements, you will be robbed by their tricks. Your orders will be on the highest point of buying or lowest point of selling. Not a decent dinkum. Experienced with them for a few months I closed my account with them.
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