Vantage FX: presentation, operation, costs …

Vantage FX: presentation, operation, costs ...

Historically specializing in currency pair trading, Vantage FX has since expanded its range to other financial assets. All the details about his business.

Vantage FX, what is it?

Vantage FX is an online trading platform founded in 2009. It provides access to the Forex market but also to other types of assets. It is a broker, i.e. it acts as an intermediary between its clients, who place investment orders, and the international markets, on which it executes the orders of its clients. It is aimed at both individuals and professionals.

Vantage FX services are accessible online from any device. The broker allows you to trade on Metatrader, a system that provides access to the Forex markets, via different platforms from the same interface. The broker offers different types of accounts, depending on the intended use of the Internet user. You can create a real account or a training account.

To open a real account, a certain amount of information is required, starting with those regarding your identity and address, and in particular the identification number of your identity document. Questions are also asked about his professional activity and financial resources. The Internet user can then choose the type of account and the platform he wishes to use. You must then confirm your identity by uploading an identity document and proof of address.

The final step is to deposit some money so you can start investing. The minimum deposit is $ 200. This can be done by bank transfer, credit card or e-wallet (Skrill, Neteller, AstroPay, JCB …)

Vantage FX also offers social trading platforms, which allow interaction with other investing clients of this broker. Users have the ability to follow professional traders of their choice and copy their investment strategy. The company also offers two trade copy platforms, which automatically duplicate trading strategies.

What are the fees on Vantage FX?

Commissions evolve over time and vary based on the type of asset traded but also the type of account opened on Vantage FX. The main costs are spreads, the difference between the purchase price and the selling price of an asset. In details :

  • On his standard account, the minimum spreads for currencies start at 1.4 points and rise to 5.4 points
  • On the more advanced accounts, the “raw” account and the professional account, the spreads can sometimes be as low as zero.
  • On the “raw” account it is possible to add a commission of 2.5 euros per lot to the spread
  • On the professional account, this commission is $ 1.5 per lot
  • For energies, the spread varies from 5 to 58 points
  • For indices it ranges from 0 to 500
  • For agricultural raw materials it ranges from 29 to 152 points
  • It ranges from 1 to 25 points for precious metals
  • Stock CFD fees start at $ 6 per US share and € 10 per European share
  • There are no deposit or withdrawal fees.

What financial products are available?

Vantage FX has historically specialized in trading Forex currency pairs, but has since expanded its range of financial products available:

  • 40 currency pairs
  • Indices of the 15 main stock markets (S&P 500, DAX, FTSE, DJ30, etc.)
  • Energy: oil, natural gas, petrol, heating oil, diesel, cash oil
  • Agricultural raw materials: cocoa, coffee, cotton, orange juice, sugar
  • Precious metals: gold, silver, copper
  • CFDs (contracts for difference) on European and American stocks.

Is Vantage FX a serious site?

Vantage FX is regulated by the Vanuatu Financial Services Commission (VFSC), the financial regulatory authority of the Vanuatu Islands. Client accounts are segregated in an Australian bank. The broker also adheres to the Default Client Compensation Scheme established by Asic, the Australian Securities and Investment Commission, the Australian government body that regulates companies. The group’s subsidiaries are also registered with the Cayman Islands Financial Authority and the UK Financial Authority (FCA).

Investing in the financial markets, however, presents financial risks. Although the broker warns that trading Forex and CFDs can be dangerous, he does not indicate what percentage of his clients lose money by investing in CFDs, unlike his competitors. Also, in the French version, some sentences are sometimes not translated from English, or are translated into a language other than English, which is rarely found among its competitors.

Vantage FX and taxes

Capital gains from trading activities must be reported on the tax return to be filed each spring, sums earned on Vantage FX are no exception. The balance of all transactions must be indicated, mandatory when it is positive and optional when it is negative. In this second case, the declaration benefits the taxpayer, because it sometimes allows him to reduce the amount of his tax. Indeed, although the negative balance is not deductible from total income, it can derive from capital gains of the same nature. And this, both the year of the return and the subsequent ten years, in case of residual negative balance. During the tax return phase, the taxpayer must in any case take care to mention the balance of all the operations carried out during the year, even if the sums obtained are always hosted on the Vantage FX accounts.

Income earned on Vantage FX is taxable at a flat rate of 12.8%. However, taxpayers may prefer the application of the progressive scale. In this case, an express request must be made in advance. To this are added the CSG, the CRDS and social security contributions, equal to 17.2%. Unlike traditional bank-backed brokers, online trading platforms like Vantage FX don’t offer securities accounts like PEAs. Therefore, no relief or ease of payment of the tax is possible.

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