One of the most rapid-paced markets with high liquidity is Forex. To trade on the market, you need a forex broker to facilitate your access to the market. One online broker that is like a game-changer is Vantage FX.
In case you have not heard about this broker, you can read up our Vantage FX review for full details about the broker. You will learn everything about the broker from the review – from their trading platforms, trading tools, tradable assets to their customer service and deposit/withdrawal options, and much more.
Today, we will take a closer look at Vantage FX account types so that you know which account to open for your trading needs.
Ready to learn, right? Then let’s move!
Table of contents
Vantage FX Account Types
Vantage FX has several account types. Find below the different account types and their respective features.
Vantage FX Demo Account
Let’s start with the demo account. At its very core, a demo account is designed to allow forex traders to trade the FX market without any risks. You use virtual money to trade, which means you are at no risk whatsoever.
Forex as known is highly volatile – if you don’t play by the rules, you may lose all your trading capital. Therefore, the use the demo account to practice your trading skills and build robust trading confidence before upgrading to use a live account where you can use real money.
The demo account replicates the real market, so you can test different trading strategies to determine the strategy that suits your personality. Once you are sure of your trading confidence, you can switch to a live account. However, Vantage FX doesn’t make it mandatory to commit to opening a live account. You can do so at your discretion.
Additionally, the Vantage FX demo account is unlimited. This means you can keep using it for as long as you want. You can read our Vantage FX demo account review if you need more information on the demo account.
On the other hand, if you already know what is a demo account, and are already looking to try every account type before depositing real money, you can follow the link and open a Vantage FX Demo Account.
Vantage FX Standard STP Account
The next account type is the Vantage FX Standard STP Account. This account type is suitable for those with basic knowledge of the forex market. The account is available on both the popular MT4 and MT5 trading terminals. With a minimum deposit of $200, you can open this account type and have access to trade more than 150 financial instruments.
Just like other great ecn stp brokerages, Vantage FX with its Standard STP Account comes with a minimum spread of 1.4 pips. In fact, Vantage FX doesn’t charge any commission to operate this account.
Vantage FX Raw ECN Account
If you can shell out a minimum trading capital of $500, you could consider using the Vantage FX Raw ECN account. This account type is for professional traders who understand the market dynamics and when to open/close a trade position. It is available on both MT4 and MT5 trading terminals.
With the Vantage FX Raw ECN account, you have access to a wide range of financial instruments. Whether you want to trade pure metals, commodities, indices, or oil, you can do that with this account type. The account comes with a minimum of 0.0 pips. However, Vantage FX charges $3 per lot traded.
Thanks to its low fees, fast execution, and the ECN environment, the Vantage FX Raw ECN account is quite popular among Scalpers. That’s why we have featured Vantage FX in our best scalping forex brokers top 10.
Vantage FX Pro ECN Account
Vantage FX Pro ECN account is a variant of the Raw ECN account discussed above. The Pro ECN account is also available on both the MT4 and MT5 trading platforms. With a minimum deposit of $20.000, you can start using the account right away. It’s an account that offers superb trading quality designed for expert traders, and that is why it’s featured in our best broker for mt5 top 10 article we suggest you to check if you want to know more about the broker.
Additionally, like the Raw ECN account, the account also supports a wide range of financial instruments. While spread on the account starts from 0.0pips, Vantage FX charges $2 per lot traded.
Vantage FX Islamic Account
If you are an Islamic trader, Vantage FX has an Islamic account with great features. The account is certified by Sheikh Hasan Qamra, who is the Chairman of the Shariah Supervisory Board.
The Islamic account doesn’t have any swap fees. More so, the account supports both the Standard STP and Raw ECN accounts. If you feel the need to go deeper into the topic, you can read our swap free islamic forex brokers, which explains very well the main info about the islamic accounts.
Vantage FX MAM/PAMM Account
The last account type is the MAM/PAMM account. You can use this account to manage multiple accounts. In short, the number of sub-accounts you can control is unlimited. The spread on this account type starts from 0 pips. What’s more? The allocation method for this account type is by equity.
If you want to use Expert Advisors to automate your trades, the MAM/PAMM account is suitable for you. Plus, you can implement all trading styles, including hedging and scalping.
Vantage FX Account Types Comparison
|Features of Vantage FX||Vantage FX Standard STP Account||Vantage FX Raw ECN Account||Vantage FX Pro ECN Account|
|Spread on forex||From 1.4 pips||From 0 pips||From 0 pips|
|Forex commission/lot||N/a||From $3.00 per lot per side||From $2.00 per lot per side|
|Platforms||MT4, MT5, WebTrader and Mobile App||MT4, MT5, WebTrader and Mobile App||MT4, MT5, WebTrader and Mobile App|
Live Account Opening
Whenever you feel confident enough to trade with real money, open a live account. In fact, unlike the demo account, if you don’t play by the rules you may lose your hard-earned money. Trading in a live environment requires discipline and patience.
Account Verification with Vantage FX
Once you set up a live account, you need to verify it to be active. The verification process is usually swift. Depending on your jurisdiction, you need to have the following documents handy:
- Proof of Identity (either a passport or a driver’s license)
- Proof of residence (a utility bill or your bank account statement).
Vantage FX Account Funding
After opening a live account, the next step is to fund your account. Vantage FX supports several deposit methods. Choose the method that is most suitable and acceptable in your jurisdiction. Below are the funding methods recognize by this broker:
Bank Transfer deposits
Bank transfer is one of the most popular deposit methods for most brokers. It typically takes between 2-5 days for your deposit to reflect on your trading account. Accepted currencies are AUD, USD, GBP, EUR, SGD, JPY, NZD, and CAD.
Major Credit/Debit Card deposits
Credit/debit cards are also another popular funding method. Deposit through credit/debit card doesn’t take much time like a bank transfer. Accepted currencies are AUD, USD, GBP, EUR, SGD, JPY, NZD, CAD.
The internet has made it possible for payment processors to thrive. Vantage FX supports two popular payment processors – Skrill and Neteller. Funding your account using Skrill or Neteller is also very fast. If you are funding your account through Skrill, the accepted currencies are USD, EUR, GBP, and CAD. On the other hand, accepted currencies for Neteller include AUD, USD, GBP, EUR, and SGD.
Minimum Deposit with Vantage FX
The minimum deposit for each of these funding methods largely depends on your location and the account type you settle for. If you opt for the Standard STP account, the minimum deposit is $200. For the Raw ECN account, the minimum deposit is $500. Then for the Pro ECN account, the minimum deposit is $20.000. You can find other useful info in our vantage FX minimum deposit guide, which is very detailed.
Account Currency accepted
Funding your account using a base currency means you won’t pay any fees for converting from your local currency to any of the base currencies supported by this broker. Vantage FX supports different base currencies, including AUD, CAD, NZD, JPY, SGD, EUR, GBP, and USD.
Vantage FX Account Bonus
This is a dying trend, however some forex brokers still offer bonuses and promotions.
Vantage FX offers a welcome bonus the very moment you make your first deposit. This bonus is not available in some jurisdictions such as the EU and the UK. The welcome bonus is 50% of the amount you used to fund your account. For instance, if you fund your trading account with, say, $200 capped at $500, and your location supports the bonus, you will receive a bonus of $250.
Vantage FX Account Deposit & Withdrawal
Vantage FX doesn’t charge a fee to fund your trading account. However, Skrill, Neteller, or your bank account may charge a fee for depositing to your trading account. While bank transfer takes between 2-5 business days for your deposit to process, Skrill takes just one business day to process your deposit.
To withdraw your earnings, you need to submit a withdrawal request for the team at Vantage FX to review. Withdrawing your earnings doesn’t come with any fee, and it takes between 2-5 business days for your withdrawal to process.
When funding your account, remember to avoid any conversion fee, especially when depositing in the same currency selected for your account. Also, keep in mind that Vantage FX doesn’t charge any fees for deposits or withdrawals. However, you may be charged a fee for depositing or withdrawing through bank transfers.
Vantage FX Account Management
In this section, you will learn how to manage your account, reactivate a dormant account, and how to close your account if you are no longer interested in any of the accounts.
Vantage FX Account Inactivity
Account inactivity is a situation where you abandon either your demo account or a live account for too long. The Vantage FX demo account is unlimited. But if you abandon the account for too long, it may become dormant.
For the live account, there is no inactivity fee. You can request to reactivate any of the accounts when you are ready to start using them.
Vantage FX Account reactivation
To reactivate any of your accounts, you need to reach out to the Vantage FX customer support team. Aside from account reactivation, you can also draw the attention of the team if you have any troubles using your account.
How to close a Vantage FX account
In a scenario where you are not willing to continue with your account, you can request to close the account. First, ensure you do not have any open positions. Then, withdraw all your funds before reaching out to the customer support team with your request.
Okay, that’s it. We have been able to explore all the account types supported by Vantage FX. Feel free to open any of the accounts and start trading.
Still wondering why you should trade the FX market with Vantage FX? You can take a look at our Vantage FX review for full details about the broker.
Vantage FX Account Types FAQ
Is Vantage FX an ECN broker?
Yes, Vantage FX is a STP/ECN broker. In particular, they offer Raw ECN and Pro ECN Accounts, along with a STP Standard Account.
What is Vantage FX Raw ECN Account?
Vantage FX Raw ECN Account features very low spreads from 0 pips with a small commission starting from $3.00 per lot per side. It’s ideal for scalpers even though the minimum deposit is $500.
About the Author
Always full of different interests, Luca started to get interested in the field of personal finance in 2014.
His self-taught studies led him year by year to become increasingly interested in the investment field.
To date, Luca actively invests in the stock market and cryptocurrencies, focusing on rising markets and the industries of the future.
His main role at InvestinGoal.com is to analyze and study in the smallest detail the brokers and their platforms, while checking carefully that the information shown by them is genuine.
In this way, he provides readers with a complete and truthful overview of the broker they might be interested in.