Vantage FX Minimum Deposit Guide

Are you preparing to make your first deposit with Vantage FX but still feel there are a few more points to clarify before funding your Vantage FX account?

In this guide, we will explore the Vantage FX minimum deposit required to open a new trading account. This guide also explores other essential things you need to know related to Vantage FX funding methods. You should visit the Vantage Fx homepage in order to get a first hand look at everything the broker has to offer for yourself.

If you’re still not convinced that Vantage FX is the right broker for you, check our Vantage FX review. This looks at all aspects of the broker from a bird’s eye view.

What is the Vantage FX Minimum Deposit?

The Vantage FX minimum deposit required is 200 USD to open a STP Account. However, it depends which account type you want to use for trading. $500 is the minimum deposit amount needed to open the ECN Account while $20,000 is the minimum deposit required to open the Pro ECN Account, which is tailored to experienced traders.

Vantage FX Deposit Bonus

Forex bonuses are not all that common currently. Luckily, Vantage FX is one of the few remaining forex brokers with bonus and promotions available to clients. Unless you’re a UK or EU trader, then you sadly can’t take advantage of this promotion. To learn more about bonuses and brokers who offer the best ones, you can read our forex brokers with bonus and promotions article.

For everyone else, you can enjoy a 50% Deposit Bonus. If you deposit at least $200, then you get a bonus of $100 to trade with. The maximum amount of bonus credit provided by Vantage FX is $250. Therefore, if your deposit is greater than $500, the amount of bonus credited to your trading account will still be limited to $250..

One great feature of the Vantage FX Deposit Bonus is that you can convert the bonus credits into a cash balance. This means you can withdraw once the necessary conditions have been met. It is important that you check the terms & conditions to ensure you understand the rules of this bonus prior to using it.

How to Deposit Funds to your Vantage FX Account

If you’re ready to start trading and want to know how to add funds to your Vantage FX trading account, just follow this helpful checklist to avoid common mistakes.

1. Try a Demo Account

If you’re new to forex trading or you are new to some of the trading tools provided, open a free Vantage FX demo account. The Vantage FX demo account is unlimited, so you can use it for as long as you need to. If you have any doubt about the opening process of the demo account with the broker, we have also put together a detailed Vantage FX demo account tutorial.

2. Apply for a Live Account

If you’re an experienced forex trader go right ahead and apply for a live account. You will need to provide your personal information, proof of identity, proof of address and in some cases a Tax Identification Number. Before you can add funds to your trading account, you’ll need to wait for it to be verified by Vantage FX. This process is usually very fast and hassle-free.

3. Deposit Funds

Once your trading account is verified, you can deposit with Vantage FX using the available payment methods and bearing in mind the broker’s minimum deposit requirement according to the account you’re applying for. For example, if you’re opening a Vantage FX ECN Account and funding via wire transfer, make sure to send the necessary amount to avoid any delay.

4. Start Trading

Once the payment has been processed, you have successfully funded your Vantage FX account and you can start trading. Payment processing times always depend on the method used. Digital payment solutions like e-wallets and credit/debit cards are processed very quickly (usually instant); however, wire transfers can take a little longer up to a few business days depending on your bank.

Vantage FX Funding Methods

Vantage FX offers an assortment of reputable and convenient account funding methods, and you probably already use one of the supported methods. The wide range of methods is excellent for ensuring that everyone can deposit and withdraw their money. Here is a closer look at all of the available funding methods and what you can expect from each when it comes to any fees and processing times:

Vantage FX Primary Payment Methods

You can deposit via bank wire transfer and popular credit and debit cards. Vantage FX supports Visa, MasterCard, JCB and China Union Pay.

Vantage FX also accepts e-wallets Skrill and Neteller, which are both very popular in the forex industry. As a side note, these payment methods are not available in Australia.

Alternative Payment Methods

The alternative payment methods Vantage FX provide are very convenient for traders in certain regions. In Australia, traders can also make a deposit to their Vantage FX account via Bpay and POLi. FasaPay is also generally available in most countries. Traders from Thailand can take advantage of local internet bank transfer methods too. Another deposit method available to you depending on location, is China Union Pay.

Vantage FX Deposit Fees

Generally speaking, it is free to deposit with Vantage FX; however, there are a few exceptions to that statement. Some deposit methods with the broker may incur fees up to 2.5% on the amount you deposit. Besides this, some providers also charge fees for making deposits which are not influenced by Vantage FX. This is particularly the case when making wire transfers and is something you should check with your bank first.

Another point to keep in mind is that if your deposit is made using a currency which isn’t the same as the base currency you select for your trading account, you may incur conversion fees. With that said, Vantage FX offers several base currencies for you to choose from including USD, EUR, AUD, SGD, CAD, GBP, NZD, HKD, and JPY.

Vantage FX Withdrawals

You will be pleased to know that you can withdraw your funds at any time, providing you have enough equity in your trading account when you submit your withdrawal request to Vantage FX. It is always best to close any open positions before you make a withdrawal from your account.

Vantage FX withdrawals are quickly processed by the company within one business day, and it should take you no longer than three to five business days to receive a withdrawal depending on the method you use. Withdrawals made to e-wallets are normally processed and received immediately once you have requested the withdrawal.

Keep in mind that due to anti-money laundering regulations, you cannot withdraw money from your account to someone else’s bank account. If you deposit via a bank transfer, you can only withdraw money back to your bank. Financial institutions take AML very seriously these days. Therefore, it’s recommended to check the Vantage FX withdrawal terms before making your withdrawal.

Vantage FX Accepted Deposit Currencies

Vantage FX gives the option to deposit with several different currencies. The available currencies are AUD, USD, EUR, GBP, NZD, SGD, JPY, HKD and CAD. These funding currencies can also all be used as your Vantage FX base currency.

It’s necessary to keep in mind what currency is used to denominate your trading account balance. For example, if you open a USD trading account by default, but you are funding with AUD, you may be subject to conversion fees on your deposits and withdrawals. It would be better to set your Vantage FX account balance to be in AUD to avoid this.

Vantage FX Minimum Deposit vs Other Brokers

Vantage is a great ECN broker with a low minimum deposit, but other brokers can potentially fit your needs also as a trader. If you’re interested in every ECN alternative, we have created an ECN Forex Brokers top 10 for you to take a look at.

Before you make a final decision on whether Vantage FX deposit & withdrawal conditions are right for you, check this comparison table below to compare alternative brokers and their funding methods:

WARNING

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money

* Agency model execution NDD

** These are not available within the UK, the EU, and other jurisdictions

Vantage FX Minimum Deposit Pros and Cons

To wrap up this review of Vantage FX deposit and withdrawal methods, here are a few pros and cons that we have noted.

Vantage FX Minimum Deposit FAQs

How do I withdraw money from Vantage FX?

You can withdraw money from Vantage FX with different methods. These include wire bank transfer, credit/debit cards like Visa, Mastercard or UnionPay China, and eWallets like Skrill and Neteller.

How long does Vantage FX withdrawal take?

Withdrawals made with Vantage FX are processed within 1 business day. Then, it may take up to 5 business days to receive your funds..

Does Vantage FX charge deposit commissions?

Usually, Vantage FX does not charge any internal fees for deposits and withdrawals. Depending on the method you may incur in a fee up to 2,5% of the amount. Please note that international banks may charge some fees.