October 25, 2013

Forex Brokers Forex FS and Vantage FX

Forex Brokers

You don’t walk into a shoe store without trying out a few different pairs of shoes. One, you have to remember your shoe size. Two, you need to make sure you like the style of the shoe once it is on. Thirdly, you want to make certain it is comfortable. Forex brokers can be tested for certain features too like account sizes, user-friendly platform, and good customer service. A list of another ten things to compare brokers for exists. The following is going to take some of these points and help you assess Forex FS and Vantage FX for their differences. In this way you can compare what you like or do not like and possibly eliminate one from your broker list. You may find you like both and want to keep them on that short list. The decision is all yours.

Forex Brokers at Forex FS

An Australian company started in 2008 Forex FS is regulated by the ASIC. This broker accepts USA clients as well as Australian clients. A lot of non-USA countries tend to disallow the use of forex brokers by USA clients. Australia does not make it impossible, but it is rare for an Australian based broker to provide their setup to USA clients. There is a demo account with the platform and three mobile platform options to ensure Android, Windows Mobile, and iPhone users can access their accounts from a mobile device.

Forex FS has 300 to 1 leverage, which is fairly high, but not the highest on record for forex brokers. According to data found they require $500 AUD for either standard or micro accounts, at least for the first deposit. The EUR/USD spread is 3 for both types of accounts. The average from other brokers is often around 2, so it is a little high, but not out of orbit since there are other companies with 4 pips or more as a spread on this pair.

One of the reasons for the slightly higher spread is the STP style dealing desk, which also offers live chat support. Not all dealing desks with STP options will offer such customer service. They only offer MetaTrader 4 for the web and desktop platform.

Forex Brokers at Vantage FX

Vantage FX was started in 2009. It is an Australian company with ASIC regulatory agency and FSA. They do not accept USA clients, but work with UK clients. There is also a demo account. Forex brokers offer different currency pairs and there is a small difference with Forex FS in that one offers 30 pairs and Vantage FX only uses 27 pairs. The mobile platform options work with iPhone and Android only.

Vantage FX is another STP broker, but with a leverage of 500 to 1. The minimum account deposit required is $500. They offer a standard spread of 1 for the EUR/USD, but this can change so always double check. Vantage FX offers more trading platforms than other Australian forex brokers. You can use AutoChartist, MT4, MT5 in demo, and MYFX.




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