VantageFX Is Why Im Broke

50 Words on – Why you can go Broke with VantageFX?

For the last couple of hours I’ve been trying to find something solid about why you could go broke with VantageFX and the thing that keeps popping up is profit cancellation. For an honest trader, this is probably the worst thing that can happen; not only the money is gone, but think about the frustration that will set in once you see your profits wiped out due to some stupid reason like abusing the market. On top of that, trade cancellation can go back several months so the amount canceled can be huge, depending on your position size. I’m not saying that traders don’t cheat sometimes, but if that’s the case, shouldn’t the broker suspend their trading immediately? Why let them trade for a few more months before canceling trades? Let’s assume it’s because Vantage FX didn’t notice the illegal trades, but that shows lack of vigilance from their part so I’m not so sure about their professionalism. Anyway, so far all of the above is just rumor, comments written on Forex forums and clear evidence of misconduct is not available

 

 

How to Avoid Going Broke with Vantage FX?

  • In order to avoid being accused of market manipulation, abuse, arbitrage or any other such thing, make your trading as transparent as possible and if your style allows it, stay away from EAs.
  • Although EA trading is allowed and they even offer a free VPS service (under some conditions), some EAs might not be welcomed so make sure your EA doesn’t fall into this category. If you use EAs, ask for written consent from Vantage FX regarding your specific robot.
  • The available leverage is 500:1 but standard is 100:1 so if you want to use the highest possible leverage, you will have to send them a request and to meet the minimum required account equity ($500 for 500:1 leverage).
  • Just like almost all Forex brokers, Vantage FX can widen spreads at news time or when volatility is irregular. These are also times when execution can be delayed and slippage can occur. Avoid as much as possible trading during such times or if you choose disregard this advice be prepared to pay the price.
  • If you choose to accept any form of bonus, be aware of the fact that usually these come with strings attached so make sure you understand the conditions of the bonus. Forexiswhyimbroke.com recommends not taking any form of bonus.
  • Withdraw periodically and don’t allow a lot of time to pass between withdrawals.

 

 

Editor’s Note – Would I Trade with VantageFX?

Their trading conditions are not that bad and it seems they’ve put in a lot of work to clean their reputation which was stained by the whole profit canceling clamor. Usually I don’t rely so much on internet complaints if they are not backed by some proof so I believe the truth is somewhere in between. As far as I know, the traders who complained about their “stolen” profits didn’t follow up with some legal action… come on, if you know your profits are 100% legit, wouldn’t you sue the company that allegedly took them away from you? I know I would! That being said, I would still go for a broker that doesn’t have this type of issues or I would follow my own advice given in the section above.

 

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