I am writing my 5 months experience with this company Vantage Fx as I am introducing Broker since April 2019 bringing clients from all over the world to trade Forex in their company. What I got to know as expert in Forex business since 1994, this is the only Australian regulated company can accept clients from EU, North America and Japan to give them leverage of 500:1 while EU and North America have forced the regulated Forex companies to reduce their leveraged trades down to 50:1 at max to reduce the high risk in trading but still many traders like to go for this high risk and trade with Vantage Fx, No problem with me as long as the client has chosen to trade his money after well acknowledgement of the high risk out of high leveraged trades! But what I have discovered in this company that I never can make profits and can't ever increase the equity in the account!. With my long experiences in trading, I can realize and sharply notice any going on scam or hidden operation around the open trades, the company pricing or service policy 24/7. After Vantage Fx has announced to the international clients that they have been forced by the
ASIC to delete all the foreign clients (Non Australian residents) and pushed to close all the foreign accounts in Vantage Fx by end of June 2019, Vantage Fx has created Off Shore Forex company but operating from Australian offices to ask the huge numbers of foreign clients to accept to move to this Off Shore license in one of Islands, this off shore license is not associated with the ASIC or EU or North America authorities at all.
Before that date and after May 2019 foreign clients in Vantage Fx started to lose their deposited Capitals day after day until demolished to 0.
Non of my introduced client to this company has won any money, even my own commissions I have lost them all in trading in this company.
Also, new clients have to know that when you click on their above banner, from IP outside Australia, they should not see this company is regulated in Australian Authority as it says, they should directing them to the off-shore regulated branch only. They are hunting foreign clients by faking the real current regulatory status for non Australian clients which they are not protected under ASIC anymore.
Let me tell you in details what I have discovered personally the smart scam in Vantage Fx to liquidate the open trades in our live accounts:
Scam A- I saw myself the open trades are moved slowly everyday from the exact open prices to new prices far away from the real first open trades' prices! this is why clients can't realize this 10 pips daily move against the well of open trade, especially in the RAW ECN accounts, the client can't see any positive profits but easy to see high unrealized lose in open trades plus every day the system is adding high SWAPS if it is in negative or low SWAPS if it is positive! All of such hidden techniques are moving the open trades levels to more lose or less profits plus high wide spreads can force the trades to reduce the current equity down. You can test this scam by open hedge trades at the same time in the same product.
Scam B- While Scam A is running, the daily closing markets at 17:00 Canada, Ontario local time, the spread goes crazy wide during this daily closing market hour (45 minutes), This hour is legally forbidden for any Forex company to open direct market on their accounts, any regulated Forex company and banks must disconnect any client's account from market during this 45 minutes, it is for all day settlement activities globally between banks & exchanges worldwide and to be done quick in Forex markets. During this 45 minutes time very risky on open trades, Vantage Fx is opening the hell fire in purpose on their clients' accounts to let the higher spreads to hit the open trades and liquidate them illegally during this 45 minutes. The first regulated type Forex companies cannot open the direct markets to clients' accounts during this hour. It is forbidden.
Vantage Fx even has liquidated a hedged trades during this closing hour in front of my own eyes!
This is what is happening in Vantage Fx everyday at the market closing during this hour, Vantage Fx is wiping off the clients' real money illegally while most of the clients are not familiar with the markets' closing regulations. It is a crime scene and they have to pay it back for liquidated clients for many years back. I am accusing the Australian authority ASIC to force them to pay back.
This B theft method is mostly done in many Off-Shore Forex companies, this is the as the following:
Vantage Fx (The international Off-Shore branch).
FXTM (I have checked their higher spreads during closing).
NordFX (I have live account and experienced the B case).
Saxo Bank (I have experienced it personally in 2006 and filed a case ended with settlement).
More are coming soon in this list ....
All the Forex companies are regulated under Off Shore fake regulations are doing A and B as smart scam methods.
As Forex expert, I advise not to go with off shore companies or with companies are not regulated in your local Area. Your deposits will be gone slowly with the wind in house even you are professional trader. They will trade against your trades in house, they don't execute your trades to the real markets, So when you lose virtually in their platform because of A and B scam methods, they keep your money in house = to the owner's pockets. Same like CASINOS.
Note: As trader, if you realize any of the above scams in your local Forex Company, please let me know by email: firstname.lastname@example.org
so I will add it in this list