Vantage Markets is a forex and CFD broker that was founded in 2009. The company is headquartered in Australia and is regulated by the Australian Securities and Investment Commission (ASIC). Vantage Markets offers a variety of trading products, including forex, CFDs, indices, commodities, and cryptocurrencies.
Company Overview
Vantage Markets is a multi-asset trader headquartered in Sydney. They claim that they are operating in over 172 countries, and have 1000 employees in more than 30 offices globally. However there are several red flags regarding their company legalization.
Team
The Vantage Markets team is made up of experienced traders and financial professionals. The company’s CEO is Dominick Suraci, who has over 20 years of experience in the financial industry.
Services or Products
Vantage Markets offers a variety of trading products, including:
- Forex: Vantage Markets offers over 50 currency pairs to trade.
- CFDs: Vantage Markets offers CFDs on a variety of assets, including stocks, indices, commodities, and cryptocurrencies. *Indices: Vantage Markets offers indices CFDs on major indices such as the S&P 500 and the FTSE 100. *Commodities: Vantage Markets offers CFDs on commodities such as gold, oil, and silver. *Cryptocurrencies: Vantage Markets offers CFDs on a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
License and Regulations
License Status
Vantage Markets claims that they are regulated by VFSC. They also provided their license number. But, we all know that VFSC is not a regulatory organization, they only provide a registration facility to their member. Also, Vanuatu is a haven for scammers.
Regulation Status
In the above section, we already showed you that they are not licensed and regulated. The licensing company is itself not authorized to provide any regulation.
Why Dealing With An Unlicensed Broker Is Risky?
It is important to only deal with licensed brokers. Unlicensed brokers are not subject to the same regulations as licensed brokers, which means that they are more likely to engage in fraudulent or unethical practices. If you deal with an unlicensed broker and lose money, you may have difficulty getting your money back.
Legal Warning Against Vantage Markets
In 2022, the ASIC issued a legal warning against Vantage Markets. The ASIC alleged that Vantage Markets was engaging in misleading and deceptive conduct. The ASIC also alleged that Vantage Markets was not providing its clients with the protections that they were entitled to under Australian law.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There are a number of negative reviews about Vantage Markets online. Some clients have complained about the company’s trading platform, while others have complained about the company’s customer service.
Feedback About Their Trading
Some clients have complained that the Vantage Markets trading platform is slow and unresponsive. Others have complained that the spreads are too high.
Feedback About Their Customer Service
Some clients have complained that the Vantage Markets customer service is slow and unresponsive. Others have complained that the customer service representatives are not knowledgeable about the company’s products and services.
How Can “Reviews Advice” Help You If You Get Scammed?
Reviewsadvice is a website that helps people who have been scammed by forex and CFD brokers. The website provides information about how to file a complaint with the relevant regulator, how to get your money back, and how to avoid being scammed in the future.
Final Thought
If you are considering trading with Vantage Markets, we advise you to do your research carefully. There are a number of red flags that suggest that Vantage Markets may not be a legitimate broker. We would recommend that you only trade with licensed brokers that have a good reputation.
We hope this article has been helpful. If you have any further questions, please feel free to contact us.
