The online brokerage firm Vantage requires a capital deposit from the trader owning the brokerage account to activate the CFD and Retail foreign exchange (Forex) trading platform.
The minimum amount required with Vantage is $200, which can be deposited via various methods, including wire transfer, credit/debit cards and ewallet. It should be noted that the minimum deposit with Vantage may vary depending on the type of trading account chosen.
Vantage generally does not charge commissions on deposits, but conversion fees may apply if depositing in a currency different from the account base currency.
What is the Vantage minimum deposit?
The Vantage minimum deposit is $200.
However the amount may change depending on the account you want to open. A Raw ECN account requires a deposit of $500 while if you opt for a Pro ECN account then the amount rises to $20,000.
The Vantage minimum deposit features are listed in this table below:
| VANTAGE DEPOSIT FEATURES | CHARACTERISTICS |
|---|---|
| Vantage standard account | $200 minimum deposit |
| Vantage raw ECN account | $500 minimum deposit |
| Vantage pro ECN account | $20.000 minimum deposit |
| Deposit fees | No |
| Withdrawal Fees | No |
| Base currencies | EUR, USD, GBP, AUD, SGD, JPY, NZD, CAD, HKD |
74-89% of retail CFD accounts lose money
You can learn more about the different Vantage account types before you open a real account with them.
What are the Vantage account base currencies?
The Vantage account base currencies include USD, EUR, GBP, AUD, SGD, JPY, NZD, CAD, HKD.
Vantage gives the option to deposit with several different currencies. These funding currencies can also all be used as your Vantage base currency:
- AUD
- USD
- EUR
- GBP
- NZD
- SGD
- JPY
- HKD
- CAD
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 account balance to be in AUD to avoid this.
What are the Vantage funding and deposit methods?
The Vantage deposit methods features and fees are listed below.
- Wire Transfer
- Credit/Debit Cards: Visa, MasterCard, JCB and China Union Pay
- eWallets: in the form of Skrill and Neteller (not available in Australia)
- Other Methods: In Australia, traders can also make a deposit to their Vantage 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. Google Pay and Apple Pay.
Vantage deposit fees
It is free to deposit with Vantage; 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. This is particularly the case when making wire transfers and is something you should check with your bank
- 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 offers several base currencies for you to choose from including USD, EUR, AUD, SGD, CAD, GBP, NZD, HKD, and JPY.
Vantage withdrawals
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. It is always best to close any open positions before you make a withdrawal from your account.
Vantage 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 withdrawal terms before making your withdrawal.
What are the steps to fund your Vantage account?
If you’re ready to start trading and want to know how to add funds to your Vantage 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 demo account. The Vantage 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 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. This process is usually very fast and hassle-free.
3. Deposit funds
Once your trading account is verified, you can deposit with Vantage 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 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 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.
How does the Vantage minimum deposit compare with other major 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.
The comparison between Vantage’s minimum deposit and those of other brokers can be found in this table below:
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.
| FEATURES | VANTAGE | PEPPERSTONE | FXPRO |
|---|---|---|---|
| Minimum deposit | $200 | $0 ($200 recommended) | $200 |
| Wire transfer | Yes | Yes | Yes |
| Credit card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Number of deposit methods | 14 | 9 | 7 |
| Base Currencies | EUR, USD, GBP, AUD, SGD, JPY, NZD, CAD, HKD | USD, EUR, GBP, AUD, NZD, SGD, JPY, CAD, CHF HKD | USD, EUR, GBP, AUD, JPY, CHF, PLN |
Does Vantage offer deposit bonuses?
Vantage offers deposit bonuses to eligible traders (excluding traders from the EU, the UK and Australia).
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 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 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.
To learn more about bonuses and brokers who offer the best ones, you can read our forex brokers with bonus and promotions article.