Vantage FX Account Types: See Which Account is Best for You

Vantage FX is a reputable Australian forex broker account. The Australian broker offers three types of accounts with various terms and conditions regarding fees, commission, leverage, minimum deposits, and margin calls. Comprehend the features, pros, and cons of the Vantage FX account types from here.

Standard STP Account

Who Is It for?

The Vantage FX Standard STP Account is ideal for account traders who wish to enter the live trading environment. It provides direct access to organizational grade spreads and dark-liquidity pools for maximized liquidity. It ensures enhanced market depth, faster implementation, continuous pricing transparency, and low spreads. The account holders are not subjected to commissions charged on trades.

Features:

• Minimum deposit amount of US $200
• STP Execution on trades
• Access to MetaTrader 4 and 5 to execute trades and execute other functions
• The market range includes 40 Forex pairs, 100 Share CFDs, 20 commodities, and 13 indices
• Opportunity to leverage up to 1:500
• The minimum trade size has been noted as 0.01 lot.
• Spreads start from 1.4 pip
• Eligible for promotional credit bonuses
• Multiple account base currency options including AUD, GBP, USD, CAD, and SGD

Pros:

• Access to trades with low bid-ask spreads
• Higher chances of volatility in quoted price lead to better scalping strategies
• Forex real-time trading through direct interbank market access

Cons:

• Small brokers primarily use STP bridges to connect traders to large brokers. The larger brokers can connect the trader directly to the market. The large brokers can also absorb the trades internally.
• Reduced transparency regarding the way orders are routed.

Raw ECN Account

Who Is It for?

The Vantage FX ECN account is for more experienced traders. They will be able to meet their deep liquidity requirements and razor-sharp spreads.

Features:

• A minimum US $500 deposit is required
• Gain access to MetaTrader 5 and 4 to execute trades and other functions
• ECN Execution on trades
• Minimum trade size- 0.01 lot
• Commissions of US $3.00 per lot side charged on trades
• Spreads begin from 0.0 pips
• The market range includes 40 Forex pairs, 100 Share CFDs, 20 commodities, and 13 indices

Pros:

• The quoted prices are likely to be highly volatile. It leads to the development of better scalping strategies.
• The ECN broker never takes a position against the trader
• Real-time forex trading via access to the interbank market
• Low bid-ask spreads trading directly from the interbank market without any slippage or requote
• Tightest spreads which are often zero

Cons:

• A commission is charged on every trade

Pro ECN Account

Who Is It for?

The Vantage FX Pro ECN account gives professional traders, algorithmic traders, and money managers extra-tight spreads and exceptional execution speed. Only a $2.00 commission per side of per standard FX lot is enough for a Pro ECN account. The account also provides access to institutional grade liquidity from the globally leading providers and trade markets at the lowest price.

Features:

• A minimum deposit of $20,000 is required
• Gain access to MetaTrader 4 and 5 to execute a trade and other functions
• ECN execution on trades
• A market range of 100 Share CFDs, 40 Forex pairs, 13 indices, and 20 commodities
• Minimum trade size of 0.01 lot.
• Opportunity to leverage up to 1:500
• $2.00 commission charged per side per lot
• Spreads begin from 0.0 pips
• The account base currency options include CAD, SGD, EUR, GBP, USD, and AUD

Pros:

• Orders get processed instantly
• No requotes
• Ability to use scalping technique on low timeframes
• Ability to set the desired level of spread
• Every order becomes a part of the market and influences its infrastructure
• Any authorized ECN participant can become a counteragent, which eliminates the chance of conflicts of interest.
• Major banks and corporations are involved, which means ECN is highly trustworthy.

Cons:

• One cannot use an ECN account if your trading balance doesn’t go beyond $300-500
• Trading possibilities within an ECN account leads to higher expenses

Vantage FX Account Types Conclusion

Vantage has different account types for you to choose from, depending on your preferences. However, before selecting one, we recommend you find out more about this broker. Just read our Vantage FX review to learn everything about this platform.

If you are a novice, start by creating a Vantage FX demo account to understand and develop strategies for trading in a risk-free environment without facing losses.