After testing 16 spread betting brokers, I found Vantage’s performance underwhelming, particularly in trading costs and product range. In this Vantage spread betting review, I’ll share my firsthand findings from my live account.
Vantage Summary
In my testing comparison of 16 UK spread betting brokers, Vantage was the 13th worst provider . One primary reason was their fees with high spreads on markets from currencies to shares. There is a lack of markets offered by the broker and I experienced poor customer service from opening an account to trading.
One positive was their MetaTrader 4 offering enhanced by SmartTrader tools. However, I found the broker’s market selection limited, with fewer than 100 choices – well below industry standards. Vantage might be ideal if you are focused on forex majors or indices, but alternatives like Pepperstone offer a broader market selection and low spreads.
* 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
I found Vantage’s spreads to be more expensive than I’d expect from a competitive broker.
During my testing, Vantage averaged a 1.20 pip spread on EUR/USD, higher than the industry average of 1.12 pips, as shown in the table below.
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Spread Bet Spreads
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|---|---|---|---|---|---|
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1.20 | 1.50 | 1.50 | 1.40 | 1.80 |
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0.80 | 1.10 | 1.40 | 1.00 | 1.40 |
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0.90 | 1.20 | 1.40 | 1.10 | 1.80 |
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1.00 | 1.10 | 1.50 | 1.20 | 1.50 |
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0.85 | 1.40 | 1.40 | 0.82 | 1.77 |
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1.10 | 1.30 | 1.60 | 1.20 | 1.60 |
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1.20 | 1.30 | 1.30 | 1.20 | 1.70 |
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1.00 | 1.50 | 1.50 | 1.00 | 1.80 |
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1.00 | 1.30 | 1.60 | 1.30 | 1.50 |
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1.30 | 1.50 | 1.50 | 1.50 | 1.50 |
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0.90 | 1.40 | 1.40 | 1.30 | 2.20 |
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0.90 | 1.20 | 1.60 | 1.50 | 1.80 |
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1.10 | 1.50 | 1.40 | 1.40 | 1.70 |
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1.90 | 1.20 | 2.00 | 1.00 | 1.70 |
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1.40 | 1.70 | 1.60 | 1.40 | 1.80 |
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1.40 | 1.40 | 1.70 | 1.90 | 1.70 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 20/09/2024
In fact, this trend was consistent across all 9 currencies I tested, with Vantage’s spreads being higher than the industry average in each case. This is a red flag for me if you are an active bettor looking to minimise your trading costs. My findings below show the broker’s higher-than-average spreads.
| Vantage Spread | Average Industry Spread | |
|---|---|---|
| EUR/USD | 1.2 | 1.12 |
| AUD/USD | 1.4 | 1.26 |
| EUR/GBP | 1.5 | 1.35 |
| GBP/USD | 1.5 | 1.53 |
| USD/JPY | 1.3 | 1.26 |
| AUD/JPY | 1.8 | 1.86 |
| EUR/JPY | 2 | 1.85 |
| USD/CAD | 1.8 | 1.69 |
| USD/SGD | 2.8 | 2.81 |
If you’re curious about how Vantage stacks up against the best brokers I’ve tested for trading costs, I encourage you to use the spread betting fee calculator I’ve developed. It’ll give you a clear picture of where Vantage stands in comparison.
Calculate Your Cost To Spread Bet
Total Cost of Spread Bet
Total Cost of Spread Bet
Total Cost of Spread Bet
Total Cost of Spread Bet
Vantage also has relatively competitive fees when it comes to share spread betting. Pepperstone and City Index excel in this area averaging 0.10% compared to Vantage which averages 0.18%.
| Share Category | Vantage Spread | Industry Average |
|---|---|---|
| UK Shares | 5pt | 5.19pt |
| US Shares | 0.15% | 0.16% |
| Geman Shares | 0.15% | 0.15% |
| Hong Kong Shares | 0.20% | 0.20% |
| Australian Shares | 0.20% | 0.17% |
Verdict on Vantage’s Spread Betting Account Fees
Given these findings, I’ve scored Vantage a 2/10 for their spread betting account fees . This low score reflects the fact that their spreads simply aren’t competitive compared to other brokers I’ve tested. Other brokers may be a better option if you want to minimise costs, especially if you trade frequently.
For Vantage’s spread betting accounts, you can only use MetaTrader 4. This is a letdown considering they advertise MetaTrader 5 and TradingView for their CFD markets. However, I prefer MetaTrader 4 to most other brokers’ proprietary trading platforms, so it’s not all bad news.
In my experience using MetaTrader 4 with Vantage, I found it to be a solid platform for spread betting. The advanced charting features are impressive, with a wide range of drawing tools and 30+ indicators at your disposal, along with popular indicators like Ichimoku and MACD. Not many platforms can offer advanced traders the option to develop custom indicators or automate bets through Expert Advisors.
I was particularly impressed with Vantage’s inclusion of MT4 SmartTrader Tools, a set of 9 expert advisors that extends the platform’s capabilities. In my opinion, these tools make MT4 much better for account and trade management.
The Mini-Terminal EA stood out to me as it enhances a few of the native features of the MT4 platform, making it better. For example, it improves the one-click trading feature by allowing you to append stop-loss and take profit orders at execution. This is ideal for scalpers, as it immediately places your stops, protecting against fast swings against bets and capturing quick profits as if the market jumps in your favour.
While having only MT4 might seem limiting, I believe it’s actually a decent choice for a wide range of spread bettors. It works well for new traders, scalpers, and algorithmic traders alike. However, the inability to spread bet shares on the MT4 platform and the broker’s restriction on share spread betting is certainly a drawback in my opinion.
Vantage doesn’t have a native or proprietary mobile trading app for spread betting, so it relies on MetaTrader 4’s mobile app. While the app has benefits, such as providing technical analysis indicators and reading financial news, I’m not its biggest fan. One major drawback I found is that your analysis from the desktop app doesn’t sync to the charts on mobile. This means you have to manually replicate your charts from the desktop if you want to analyse the financial markets on the go, which can lead to mistakes.
One aspect of the mobile app I appreciate is the ability to set up price alerts. These send push notifications when the market reaches specified prices and update you on open or pending orders. I found this feature useful when needing to react quickly to market changes.
Verdict On Vantage Trading Platforms
In my tests, I scored Vantage’s trading platforms 5/10. They earned points for offering the MT4 platform and its SmartTrader tools, which I found valuable additions. However, I found it odd that Vantage doesn’t offer TradingView like other top brokers I’ve tested, such as Pepperstone. Additionally, the lack of a dedicated mobile app for spread betting and the restriction on share spread betting prevents me from scoring them higher.
* 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Yes, Vantage is a safe spread betting broker regulated by the Financial Conduct Authority and has been operating since 2009. With over 15 years of industry experience and over 900,000 customers using its services, I gave the broker a trust score of 7/10.
Financial Regulation
Vantage is accountable to the UK’s Financial Conduct Authority (FCA), the gold financial regulation standard. The FCA is known for its stringent oversight, which includes strict capital requirements, regular audits, and mandatory client fund segregation. These measures provide an extra layer of protection for you should anything happen to the broker, keeping your money safe.
In addition, they ensure that all UK brokers offer negative balance protection, which means the broker closes all your losing trades so you do not owe the broker any money.
Furthermore, I like seeing brokers regulated by multiple financial authorities across different jurisdictions, demonstrating their commitment to operating at the highest standards. Vantage goes above and beyond by being regulated not only by the FCA but also by other tier 1 regulators like:
It’s not easy to meet the requirements of multiple regulators, so I see this as a definite plus for Vantage.
Reputation
Vantage has built a solid reputation in the industry over the past 15 years, with over 900,000 traders using their services, and it’s clear they’ve gained significant trust. I’ve found that brokers don’t reach this scale without maintaining a good reputation over time.
Their reputation is further bolstered by industry recognition through the awards they have received. I was particularly impressed to see that Vantage won the “Best Multi-Asset Broker” at the Online Money Awards in July 2024. This recent accolade suggests they’re continuing to innovate and provide quality services to traders.
Vantage Reviews
When testing a broker, I always seek out independent customer reviews to gain insights from different perspectives. On TrustPilot, Vantage has an “Average” rating of 3.7 out of 5, based on 9 reviews. While the review count is relatively low, I agree with the score based on my experience with the broker.
Verdict on Vantage’s Trustworthiness
I’ve given Vantage an overall trustworthiness score of 7/10. This score reflects their strong regulatory standing, overseen by Tier 1 authorities like the FCA and ASIC. Their recent industry award and large client base of over 900,000 traders also contribute positively to this rating. While there is always room for improvement, I believe Vantage is a reliable choice for spread betting, offering a secure and reputable platform for traders.
Vantage offers traditional methods for funding your trading account, including debit card and bank transfer options. While these are standard across the industry, some traders may prefer additional payment methods for added flexibility.
Vantage requires a minimum initial deposit of £50 to start spread betting. While this is a relatively low amount compared to some brokers, I prefer it when there are no minimum deposit requirements, like what Spreadex and Pepperstone offer. No minimum deposit allows you to start with any amount you feel comfortable with and doesn’t force you to deposit too much when you need to top up your account.
When it comes to account base currencies for spread betting, Vantage offers the standard GBP, which is expected for UK traders. They also provide USD and EUR options, which I think is a nice touch if you are dealing with international markets or have income in these currencies.
Vantage keeps it simple with three deposit methods: debit card, credit card, and bank transfer. I appreciate that all these options have the same minimum deposit requirements and, more importantly, no fees, a plus in my book.
During my testing, I used the debit card method and found it to be instant, which is great when you want to start trading right away. Credit cards offer the same speed, but if you’re going the bank transfer route, be prepared to wait 1-2 business days. This timeline is pretty standard in the industry, so no surprises there.
When it comes to withdrawals, Vantage aims to approve requests within 24 hours, which is decent. In my tests, the withdrawal process took about 4 hours for approval, and then another day before I saw the funds back on my debit card statement. It’s not the fastest I’ve seen, but it’s certainly not the slowest.
Debit/credit card withdrawals can take up to three business days, while bank transfers might stretch to five. These aren’t the speediest times in the industry, but they’re average. There are no fees for withdrawing your money either.
Opening an account with Vantage is an online process where you create your account while applying. The application involves standard questions requesting your market knowledge, financial details, and risk tolerance, which is compulsory for all spread betting brokers due to FCA requirements.
I found the process straightforward and completed it in under 10 minutes, but if you get stuck live chat is on hand to lend support. My account was approved within 24 hours after sending my verification documents, which is a decent turnaround.
Verdict On Vantage Funding and Withdrawals
Overall, I’d say Vantage offers a solid, if somewhat basic, approach to funding and withdrawals. They stick to standard payment options for deposits, and their withdrawal process is average for the industry. The lack of fees for deposits and withdrawals is definitely a point in their favour. While they might not break any speed records, they’re reliable and straightforward. If you’re looking for a no-frills, fee-free experience, Vantage delivers on that front.
Despite being a multi-asset broker, I was surprised to find that Vantage offers a very limited range of markets. With roughly 80 financial instruments across 3 asset classes available for spread betting, it’s one of the lowest choices I’ve tested out of 16 brokers. This limited selection was unexpected and could be a drawback for traders looking for diverse opportunities with products like ETFs or shares.
In my experience with Vantage, I found that they offer 40+ currency pairs, covering majors, minors, and exotic pairs. While this selection includes the popular pairs you may trade regularly, like EUR/USD and GBP/USD, I noticed that the range of exotic pairs is somewhat limited. If you’re a trader who prefers high-risk forex pairs, this might impact your decision to choose Vantage. However, the offering should be sufficient if you focus on major and minor pairs.
Testing Vantage’s commodities trading, I discovered they offer 23 markets, consisting of 7 energy, 7 soft commodities, and 9 metal markets. A particular highlight that caught my attention is the ability to spread bet on gold and silver with different currency crosses, like XAU/EUR. I find this attractive as it provides more flexibility in trading precious metals against various currencies, making it a decent opportunity for divergence trading or hedging. Besides this unique feature, Vantage offers standard markets, including gold, oil, silver, and sugar.
When it comes to indices, I found that Vantage provides 19 markets on major global stock indices. This includes the FTSE 100, representing the 100 largest companies on the London Stock Exchange. While the selection isn’t extensive, it covers the most important global indices that most traders typically focus on, including NASDAQ and S&P500.
In my testing, I noticed that Vantage restricts its share markets when it comes to spread betting. I believe this limitation is likely because the broker only uses MT4 for spread betting, which doesn’t have the infrastructure to trade stocks effectively. This could be a significant drawback for traders looking to spread bet on individual company shares.
Verdict On Vantage Spread Bet Markets
After testing Vantage’s spread bet markets, I gave the broker an overall score of 5/10 for their market range. While the broker does provide popular markets like EUR/USD and FTSE 100, I find their product range of less than 100 instruments to be one of the lowest I’ve seen compared to peers. For instance, Spreadex dwarfs Vantage with 10,000 markets. I think Vantage’s limited selection could be a significant disadvantage for traders seeking diverse opportunities. However, if you’re focused on major forex pairs and indices, Vantage might still meet your needs.
* 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
According to their own statistics, Vantage’s execution speeds average between 100-250ms. While these are decent speeds and barely noticeable when using the MT4 platform to execute trades, I believe there’s room for improvement. If execution speed is a priority for you (and should be), faster options are available, like Pepperstone, which offers sub-80ms speeds on MT4.
Due to the nature of spread betting, Vantage provides a market maker execution model. This means they act as the counterparty to your trades, creating liquidity and allowing for faster execution and tighter spreads in some cases.
In my experience testing Vantage with over 50 bets, I didn’t encounter any slippage or requotes, which is a positive sign for any broker’s services. However, I noticed that Vantage doesn’t offer guaranteed stop loss orders (GSLOs). The absence of GSLOs can make trading with the broker costly during volatile market periods if you cannot protect against potential slippage.
Verdict On Trading Conditions
I gave Vantage an overall score of 4/10 for trading experience, primarily due to its average to slow execution speeds and lack of a guaranteed stop loss. While the broker performed well in my live trading tests, avoiding slippage and requotes, I find it challenging to score them higher when I’ve tested much faster brokers.
I found Vantage’s customer service to be a mixed bag. On the positive side, they offer live chat support 24/5, which I found helpful during my testing. What I appreciate is that you’re connected directly to a human representative instead of wasting time with a bot. This saves the hassle of filling in lots of information before getting a realistic answer, which is a big positive in my book.
In addition to the live chat, Vantage provides other avenues for help, including email and phone support, both of which also offer 24/5 availability. However, I noticed that the email response time is 1-3 business days, which, in my opinion, is too long to receive a response via email compared to other top brokers.
One drawback I encountered was the lack of an online help portal with frequently asked questions. Many top brokers offer this feature, allowing traders to find instant answers to basic questions. I think Vantage is missing an opportunity to provide quick, self-service support for common issues, which could significantly enhance the customer support experience.
Verdict On Vantage Customer Service
After testing Vantage’s customer service, I’ve given them an overall score of 4/10. This score primarily reflects their decent live chat service, which I found to be the most efficient support channel. However, other communication methods involve waiting times that I believe are too long for a forex broker.
Vantage offers a modest range of market research services in the form of online content lessons and webinars. Its educational resources are excellent, with in-depth lessons covering multiple topics for beginners and experienced traders.
I found Vantage’s market research to be decent, offering market news and analysis from their in-house analysts. The commentary goes into exceptional detail that’s easy to interpret, backed up by detailed charts. I liked that the broker offered a “Week Ahead” article analysing the important macroeconomic data coming up this week, with a summary of the previous week. This gives traders a good overview of what to expect and helps them prepare for potential market moves.
Vantage View is a series of well-made videos based on the broker’s analysis across several sectors, discussing ideas you can take advantage of. I thought the analysis in these videos was equally good, offering valuable insights for traders looking to capitalise on current market trends.
I was impressed with the broker’s resources, which include 76 online articles covering a full spectrum of topics, from the basics of trading to guides on trading psychology. These articles are in-depth, with lots of examples to follow, which is better than what most brokers offer, in my opinion. If you’re new to spread betting, you can benefit from this comprehensive learning material, as it covers all the essential aspects of trading.
However, a drawback is that they do not offer the lessons in video format, which I think would attract more traders by making the learning more engaging instead of presenting a wall of text.
In addition to articles, the broker hosts a weekly webinar to discuss the market outlook, including current trends, events, and market setups. You can learn to trade over the shoulder of an analyst, which is an invaluable experience if you ask me.
You can only spread bet on the MetaTrader 4 platform, which has a free demo account with £100,000 in virtual funds. I think this is more than enough to help you practice trading and get a feel for the platform before risking real money.
Verdict On Vantage Research and Education
I felt the broker made a good attempt at providing market analysis but hasn’t quite executed it as well as other brokers like Pepperstone, who also provides daily technical analysis signals. The educational resources available are of high quality if you don’t mind reading text, as they’re full of value. However, if the articles were provided in video format, it would have been much better for engaging learners.
I found Vantage to be a trustworthy broker, essential in spread betting. While they offer MetaTrader 4 with SmartTrader tools, this alone isn’t enough to sway me. The broker is stable and secure, but their trading costs are a drawback, scoring just 2/10 in this area, their spreads simply aren’t competitive compared to brokers like Pepperstone. High trading costs make it harder to profit, so lower spreads are crucial. Vantage might suit traders who prioritise platform features over costs, but for most, there are better alternatives with more competitive pricing.
* 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Spread betting can be profitable if you approach it correctly by developing a consistently profitable trading strategy with sound risk management. This involves making mistakes and taking losses, so you should practise on a demo account before risking real money.
Vantage offers leverage of up to 30:1 on its forex major pairs for retail traders 20:1 on forex minors, commodities, and indices. If you want higher leverage, the broker can offer up to 500:1, but you must be categorised as an elective professional by the FCA to qualify for this higher leverage.
Yes, Vantage FX is regulated by multiple top-tier authorities. For spread betting, the broker is regulated by the Financial Conduct Authority in the UK. Outside of spread betting, the broker is regulated to provide CFD trading through authorities such as ASIC in Australia and the Vanuatu Financial Services Commission (VFSC).
Spread betting is speculating on the direction of an asset’s price movement without owning the underlying asset. Profits or losses are determined by the accuracy of the bet and the size of the price movement.
Vantage is a multi asset spread betting broker that would suit a variety of trading styles thanks to offering MetaTrader 4. Because of this platform, the broker makes it easy for scalpers, day traders, and algo traders to use the broker’s services.
Financial spread betting involves speculating on various financial instruments like stocks, indices, and commodities, while forex spread betting is specifically betting on currency pair price movements. The core concept is the same for both
The main difference is that spread betting profits are tax-free, while CFDs are subject to capital gains tax making spread betting more tax-efficient (both are exempt from stamp duty). Additionally, spread betting is only bet in GBP so you do not experience any currency conversion fees, while CFDs do as they are converted into the asset’s currency.
Yes, spread betting with Vantage offers the MetaTrader 4 platform for forex trading, commodities, and indices, which offers real-time pricing and advanced charts. The broker also offers MT4, MetaTrader 5, and TradingView for trading other derivatives like futures and CFDs.
Yes, you can spread bet with Vantage in the UK. The broker is regulated by the Financial Conduct Authority, which provides licences to brokers to offer spread betting as a service.
No, you cannot spread bet cryptocurrencies with Vantage in the UK as the Financial Conduct Authority restricts crypto markets to UK retail traders. However, if you are one of the broker’s professional clients and can tolerate the volatility of the markets, the broker offers crypto CFDs (contracts for difference).
