Vantage Dispute

Think before you trust Vantage with your money.

How can you be sure Vantage is not charging you some newly made up fees over your entire account history? You can not.

Imagine you trade with them for years and suddenly they charge you all your deposit fees 5 years backwards.

Read the documents. Make up your own mind.

This is what happened to us

One sentence. €134,751.18 deducted.

Vantage did not stop at deducting swap charges. They also deducted Neteller deposit and withdrawal fees that, in Vantage's own words, had “not been implemented in the past.”

With that single sentence, Vantage introduced a previously unimplemented Neteller deposit and withdrawal fee and deducted it across 5 years of our account history.

From my account €97,104.63
From my wife's account €37,646.55
Total Neteller fees €134,751.18

This is what also happened to us

Another paragraph. €139,990.18 deducted.

In the same email, Vantage also referred to its swap-free account clause and deducted swap charges from both accounts.

This happened after I had done exactly what the Vantage Account Manager had told me to do. I simply followed his guidance and advice.

From my account €70,110.84
From my wife's account €69,879.34
Total swap deductions €139,990.18

How did this happen?

I was contacted by a Vantage Account Manager and asked if I wanted to trade with them again. I asked for an Islamic account with administration fees, because I wanted to know the costs. Instead of answering my question, I was offered a swap-free and admin-fees-free account.

Me: If I open a new account, swap free. What are administration fees for each trade?

Me: Where can I see that?

Vantage Account Manager: You can't see it because it's from the liquidity provider.

Vantage Account Manager: But it's near like the swap charge.

Me: But there must be some list or something?

Me: Can you send me some information regarding that?

Vantage Account Manager: It's changeable every day.

Vantage Account Manager: I will check for you.

About ten minutes later, the answer came back.

Vantage Account Manager: I talked to my manager, I can offer you Swap free and Admin Fees Free Account: the products are FX, metals (Gold and silver) and oil.

Me: So no swaps and no admin fees at all?

Vantage Account Manager: Yes for FX, metals (Gold and silver) and oil.

Me: Even if I keep positions open for longer it's not a problem?

Vantage Account Manager: Yes, this is just for MENA clients.

Vantage Account Manager: Yes.

I was worried whether I could keep positions open for longer, because my trading strategy follows the trend and I often keep positions open for several days. A few days later, I asked again.

Me: But as long as a position is open 7 days or less, they will not charge?

Vantage Account Manager: No.

Vantage Account Manager: After 7 days, if Vantage wants, they can do that.

Me: OK, but below 7 days they will not charge, correct?

Vantage Account Manager: Correct.

I did exactly what I was told, not more, not less.
I just followed my account manager's advice in good faith, not knowing that he was guiding me into a trap.

A few weeks later

A few weeks later, I received another message from the same Vantage Account Manager saying that Vantage had identified my trading as “abusive.”

What surprised me was that this serious allegation did not come in an official Vantage email or from the Risk Team. Instead, it was first communicated to me via WhatsApp by my account manager.

“You can continue to keep trading now until we can cover the cost that occurred.”

On the one hand, Vantage was telling me that my trading was supposedly “abusive.” On the other hand, I was being encouraged to continue trading.

But to my surprise, a few weeks later...

Vantage still deducted all the swap fees and the newly introduced deposit and withdrawal fees from both my account and my wife's account, even though I had traded hundreds of additional lots which supposedly should have been deducted from the fees.

The deductions

The screenshots below show the deductions from our MT4 accounts.

Total deducted from my account €167,215.47
Total deducted from my wife's account €107,525.89
Total deducted from both accounts €274,741.36
Deduction from Philipp's account
My account: swap and fee deductions
Deduction from Arzu's account
My wife's account: swap and fee deductions

Read the documents

This website documents our personal dispute with Vantage based on WhatsApp messages, emails and account statements.

We published the evidence so readers can make up their own mind and think twice before choosing Vantage.