Vantage, formerly Vantage FX, is a forex and CFD brand. Vantage Global Prime Pty Ltd holds an ASIC licence in Australia, Vantage Global Prime LLP is authorised by the FCA in the UK, and the international site vantagemarkets.com is linked to Vantage Global Limited, licensed in Vanuatu. The UK partnership’s accounts name Jie Tang as its ultimate controlling party.
Research-based assessment This profile has not completed TTI’s on-site verification and 30-day platform review. How TTI verification works
| Regulator | Licence | Legal entity | Register status | Source |
|---|---|---|---|---|
| Australian Securities and Investments Commission (ASIC) | AFSL 428901 | Vantage Global Prime Pty Ltd | Authorised Checked 4 Oct 2026 | Register entry for Vantage Global Prime Pty Ltd (opens in a new tab) 1 |
| Financial Conduct Authority (FCA) | 590299 | Vantage Global Prime LLP | Authorised Checked 4 Oct 2026 | Register entry for Vantage Global Prime LLP (opens in a new tab) 3 |
| Vanuatu Financial Services Commission (VFSC) | No reference | Vantage Global Limited | Authorised Checked 5 Oct 2026 | Register entry for Vantage Global Limited (opens in a new tab) 4 |
Each licence was matched on the regulator’s own register on the date shown. Unverified claims are listed under Regulation and legal entities.
Vantage’s Australian, UK and Vanuatu companies hold licences we could confirm, and its international site tells visitors that they will deal with Vantage Global Limited in Vanuatu without the UK’s protections, including negative balance protection, which its Vanuatu risk notice confirms is not offered. Official filings show that the UK partnership is controlled by Jie Tang and earns most of its income in commissions from Vantage International Group Limited, a company under common control, although it says it is separate from the offshore companies. Vantage says client funds are segregated and insured, and international clients can take disputes to the Financial Commission. Regulators have repeatedly acted against the offshore business: Consob ordered Vantage Global Limited to stop serving Italians in 2023 and 2024, the CVM issued a Brazilian stop order in 2025, and the FCA warned in April 2026 that vantagemarkets.com is not authorised in the UK and that its clients have no ombudsman. ASIC accepted an enforceable undertaking from the Australian company in 2018, and the brand is on India’s and Malaysia’s alert lists.
The international site tells visitors that they will open an account with Vantage Global Limited, regulated in Vanuatu, and not with the FCA-authorised UK partnership, and the Australian site names Vantage Global Prime Pty Ltd as the issuer of its products.
The UK partnership’s audited accounts say it holds client money in segregated client money bank accounts under the FCA’s CASS rules, and Vantage says all client funds are held in segregated trust accounts with top-tier banks.
The UK partnership’s audited accounts name Jie Tang as the ultimate controlling party, through Ruby Victory Holdings Limited of the British Virgin Islands, and Companies House registers Jie Tang with more than half of the voting rights and Reggie Yiyan Chen with more than a quarter of the surplus assets.
The three licences we could check are current, with no suspension or restriction shown.
UK clients can use the Financial Ombudsman Service, Australian clients AFCA, and international clients the Financial Commission, which lists Vantage as an active member since 3 October 2022; the FCA warns that people dealing with vantagemarkets.com cannot use the UK ombudsman.
Reduced the enforcement dimension by 10 points (moderate severity, 2.5 years before the review).
Reduced the enforcement dimension by 10 points (moderate severity, 1.3 years before the review).
Reduced the enforcement dimension by 2.5 points (moderate severity, 8.3 years before the review, counted at a quarter of its weight).
Reduced the enforcement dimension by 2 points (low severity, 0.5 years before the review).
Reduced the enforcement dimension by 2 points (low severity, 0.9 years before the review).
Each dimension is scored from its criteria, then weighted. Dimensions without enough evidence are left out and the remaining weights are rescaled. Open a dimension to see every criterion, our rationale and the sources.
Whether the firm’s licences exist, are current and cover what it offers.
Client-facing entities appear on the regulator’s register 12345
We matched Vantage Global Prime Pty Ltd, which holds the Vantage FX and Vantage Markets business names, on ASIC’s licensee data, Vantage Global Prime LLP on the FCA’s list and Vantage Global Limited, which serves international clients, on the VFSC’s list. We could not check the South African licence of Vantage Markets (Pty) Ltd or the Mauritius licence the site attributes to “VIG Group”.
Permissions cover the services offered 1346
ASIC authorises the Australian company to issue, deal in and make a market in derivatives and foreign exchange contracts, and the Vanuatu company holds a financial dealers licence. The FCA’s published list does not show the UK partnership’s permissions. The FCA warns that vantagemarkets.com may be promoting services in the UK without permission, and Consob and the CVM have ordered Vantage companies to stop serving Italian and Brazilian residents.
Clients can tell which regulated entity serves them 58
The international site tells visitors that they will open an account with Vantage Global Limited, regulated in Vanuatu, and not with the FCA-authorised UK partnership, and the Australian site names Vantage Global Prime Pty Ltd as the issuer of its products.
Criteria and their weighting are explained in the methodology.
Whether you can find out who owns and runs the firm.
Ultimate ownership can be identified 610
The UK partnership’s audited accounts name Jie Tang as the ultimate controlling party, through Ruby Victory Holdings Limited of the British Virgin Islands, and Companies House registers Jie Tang with more than half of the voting rights and Reggie Yiyan Chen with more than a quarter of the surplus assets.
Group structure is explained 561112
The UK accounts show that Vantage International Group Limited is under common control with the UK partnership and paid it £3.05 million of commissions in a year, and the international site lists the group’s companies, but Vantage does not explain how they are related or owned.
Criteria and their weighting are explained in the methodology.
What protects client money if something goes wrong.
Retail clients have negative balance protection 13514
Retail clients of the Australian and UK companies are protected by the rules that apply to them, but the international site warns that negative balance protection is not guaranteed, and the Vanuatu risk notice says clients can lose more than they invested.
Criteria and their weighting are explained in the methodology.
Regulator warnings, enforcement actions and final legal findings on record.
Starts at 100 and loses points for each substantiated adverse finding by severity and age. Allegations, complaints and clone warnings never count. Total deducted: 28.5 points.
Warning lists and enforcement records have been searched 121819202122
We searched ASIC, FCA, Consob, CySEC and CVM records and the Indian and Malaysian alert lists, and ran web searches for other actions. The searches are listed in the source note. The Japan FSA’s list of warned unregistered firms (September 2026) includes Vantage Global Limited (2023).
ASIC accepts an enforceable undertaking from Vantage Global Prime over misuse of client trading information 19
25 Jun 2018. Reduced the enforcement dimension by 2.5 points (moderate severity, 8.3 years before the review, counted at a quarter of its weight).
FCA warns that vantagemarkets.com is not authorised in the UK 12
2 Apr 2026. Reduced the enforcement dimension by 2 points (low severity, 0.5 years before the review).
Named on the Reserve Bank of India’s alert list of unauthorised forex platforms 32
19 Nov 2025. Reduced the enforcement dimension by 2 points (low severity, 0.9 years before the review).
Listed on the Securities Commission Malaysia Investor Alert List 33
1 Jan 2021. Reduced the enforcement dimension by 1 points (low severity, 5.8 years before the review, counted at half weight).
Warned by Japan’s Financial Services Agency for soliciting derivatives business without registration 22
29 Mar 2023. Reduced the enforcement dimension by 1 points (low severity, 3.5 years before the review, counted at half weight).
Criteria and their weighting are explained in the methodology.
How the firm handles complaints, and what independent records show.
Independent dispute resolution is available 3122324
UK clients can use the Financial Ombudsman Service, Australian clients AFCA, and international clients the Financial Commission, which lists Vantage as an active member since 3 October 2022; the FCA warns that people dealing with vantagemarkets.com cannot use the UK ombudsman.
Independent complaint outcomes show no adverse pattern 25
The ombudsman has published no decisions about Vantage Global Prime LLP in the last three years.
Complaint data is disclosed 925
We found no complaint statistics for Vantage: its UK partnership is below the thresholds for the FCA’s and the ombudsman’s firm-level tables, and its legal documents page includes none. AFCA publishes complaint figures for its members, but its data site refused our requests, so we could not check the Australian company.
Criteria and their weighting are explained in the methodology.
Whether costs, execution and risks are disclosed before you sign up.
The client agreement is available before sign-up 8928
The legal documents page links the client agreements and related documents of the Vanuatu and South African companies, and the Australian site its product disclosure statement, without an account; the archive holds no readable copy of the Vanuatu agreement itself.
Criteria and their weighting are explained in the methodology.
Whether public claims hold up and the firm communicates openly.
Marketing claims are accurate and attributable 51330
Vantage tells international clients that their funds remain insured if it cannot meet its obligations, under Lloyd’s cover that its insurance page puts at up to USD 50 million in aggregate and its footer at up to USD 1 million per claim, and calls itself an award-winning broker trusted by more than 5 million traders without a source. Press reports describe UK consumers being steered to the offshore platform.
An address and working contact channels are published 47910
Vantage publishes addresses for its Vanuatu, Australian, South African and UK companies, email addresses including one for complaints, live chat and an Australian telephone number; the UK address matches Companies House and the Vanuatu registration number matches the VFSC’s list.
Material changes are communicated 28
We could not read Vantage’s client agreements to see how it gives notice of changes.
Criteria and their weighting are explained in the methodology.
What our visit confirmed in person: a real, staffed office of the assessed entity, not a ghost address.
We have not checked this firm’s office in person, so this dimension scores zero. We check offices through our on-site verification programme.
Real office at the stated address, not a ghost address
Office of the assessed entity
Staffed and operating
Criteria and their weighting are explained in the methodology.
What our on-site checks and 30-day platform testing found.
We have not completed an on-site assessment of this firm, so this dimension does not count and its weight is shared among the others.
Company identity
Regulatory claims
Office visit
Account opening
Platform usability
Costs and disclosures
Customer support
Deposits and withdrawals
Trading functions
Complaints process
Criteria and their weighting are explained in the methodology.
A brand can trade through several companies, each licensed in a different place with different protections. Check which entity your account would be with.
Australian Securities and Investments Commission (ASIC) · Reference AFSL 428901 1
Issuing, dealing in and making a market in derivatives and foreign exchange contracts for retail and wholesale clients
Licence start date 21 December 2012.
Financial Conduct Authority (FCA) · Reference 590299 3
Vanuatu Financial Services Commission (VFSC) 4
Financial dealers licence, classes A, B and C
Licence dated 22 August 2023.
No licence recorded for this entity.
Financial Sector Conduct Authority (FSCA) · Reference 51268 5
Claimed on Vantage’s site; the FSCA’s register refuses our requests.
No licence recorded for this entity.
No licence recorded for this entity.
Warnings, enforcement actions, legal findings, allegations and complaint records are labelled separately. What each label means.
On 2 April 2026 the FCA added vantagemarkets.com, Vantage’s international website, to its warning list as a firm that may be providing or promoting financial services in the UK without permission, noting that it is not associated with Vantage Global Prime LLP and that its clients have no access to the Financial Ombudsman Service.
The Reserve Bank of India’s Alert List, updated as on 19 November 2025, includes Vantage Markets (www.vantagemarkets.com) among entities that are neither authorised to deal in forex under the Foreign Exchange Management Act nor authorised to operate a forex trading platform in India. The list warns residents but does not allege fraud.
On 18 June 2025 the CVM said Vantage International Group, Vantage International Holding Limited, Vantage FX Pty Ltd and Vantage Global Prime Ltd, which hold the Vantage Markets brand and maintain www.latam.vantagemarkets.com, were seeking clients resident in Brazil without authorisation. By Ato Declaratório 23.510 of 13 June 2025 it ordered them to stop offering securities intermediation services, under a daily fine of BRL 1,000 for non-compliance.
By resolution 22587 of 8 February 2023 Consob ordered the cessation of the unauthorised provision of investment services to the Italian public through www.vantagefx.com and www.vantagemarkets.com, whose site said Vantage is a trademark of Vantage Global Limited of Vanuatu; cold calling of Italian retail investors had been reported. By resolution 23087 of 24 April 2024 it ordered the same for www.vantage-markets.com, which copied the main site, noting complaints from Italian individuals who said they could not get their money back.
On 29 March 2023 Japan’s Financial Services Agency warned Vantage Global Limited, of Port Vila, Vanuatu, for soliciting over-the-counter derivatives trading over the internet without registration in Japan, under the service name “Vantage”.
The Securities Commission Malaysia’s Investor Alert List includes “VantageFX / Vantage Markets / Vantage Malaysia” (www.vantagefx.com and www.vantagemarkets.com) for carrying on unregulated activities. The list records the entry under the year 2021 without a specific date; we use 1 January 2021. The entry was still on the list when we checked on 4 October 2026.
On 25 June 2018 ASIC announced a court enforceable undertaking from Vantage Global Prime Pty Limited after finding it lacked adequate systems and controls to stop employees misusing confidential client trading information; a senior employee had used it for personal trading, with no evidence of client losses. Vantage undertook to appoint an independent expert, train its representatives, not appoint the employee as a director for 12 months and pay AUD 95,000 to The Ethics Centre.
Firms can respond to their profile and to any finding. No response has been published for Vantage. How firms can respond.
| Review date | Result | Methodology | Status |
|---|---|---|---|
| 7 Oct 2026 | Trust score 78 out of 100 Sound | 1.2 | Current |
No corrections have been made to this profile.
Lists AFSL 428901 held by Vantage Global Prime Pty Ltd (ABN 32157768566), Sydney, from 21 December 2012, covering general advice on, and issuing, dealing in and making a market in, derivatives and foreign exchange contracts for retail and wholesale clients.
Active Australian private company (ACN 157 768 566), ABN active from 12 April 2012, based in Sydney. Registered business names: Vantage FX (from 6 September 2018) and Vantage Markets (from 6 November 2021).
Shows Vantage Global Prime LLP (FRN 590299), first authorised 1 July 2013, with status Authorised.
Lists Vantage Global Limited (company 700271) as holding an active financial dealers licence in classes A, B and C, dated 22 August 2023.
An archived copy, taken on 15 September 2026, of www.vantagemarkets.com. A notice tells visitors that they will open an account with Vantage Global Limited, regulated by the Vanuatu Financial Services Commission, and not with the FCA-authorised UK partnership, so they will not be guaranteed negative balance protection, the FCA’s leverage limits, the Financial Ombudsman Service, the FSCS or the FCA’s client money rules. The footer says “VIG Group” holds Mauritius FSC licence GB20026165 (Ebene), that excess of loss insurance arranged through Willis Towers Watson covers up to USD 1,000,000 per claim, that Vantage is a member of the Financial Commission, and names Vantage International Holding Limited (Seychelles, 171730), Vantage Markets (Pty) Ltd (FSCA licence 51268, 18 Cavendish St, Claremont, Cape Town), Vantage Global Prime Pty Ltd (AFSL 428901) and V.I.S. Vantage Integrated Services Limited (Cyprus, HE 489383), which provides payment services. The page says client funds are held in segregated trust accounts with top-tier banks, calls Vantage an award-winning broker trusted by more than 5,000,000 traders, and carries a risk warning without a share of losing accounts. Vantage’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.
Audited by Buzzacott Audit LLP and filed on 10 April 2026. The partnership onboards retail and professional clients to trade spot FX and CFDs as a matched principal broker. Turnover was £5,201,268, including £3,053,719 of commissions from Vantage International Group Limited, a company under common control. It holds client money in segregated client money bank accounts under the FCA’s CASS 7 rules. Its immediate parent is Ruby Victory Holdings Limited (British Virgin Islands) and its ultimate controlling party is Jie Tang.
An archived copy, taken on 2 May 2026, of Vantage’s contact page. It gives addresses for the South African company (164 Blaauwberg Road, Table View, Cape Town; FSCA 51268), the Vanuatu company (iCount Building, Kumul Highway, Port Vila; VFSC registration 700271) and the Australian company (Level 12, 15 Castlereagh Street, Sydney; AFSL 428901), email addresses including one for complaints, live chat and an Australian telephone number, and says emails are answered within 1 to 3 business days. Vantage’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.
An archived copy, taken on 7 April 2026, of www.vantagemarkets.com/en-au/. It names Vantage Global Prime Pty Ltd (ACN 157 768 566, AFSL 428901) as the issuer of the products, with its Sydney and Melbourne addresses, email and telephone, links its product disclosure statement and target market determination, and carries a risk warning. Vantage’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.
An archived copy, taken on 8 April 2026, of Vantage’s legal documents page. It links the client agreement, risk warning notice, key facts summary and privacy policy of Vantage Global Limited (iCount Building, Kumul Highway, Port Vila, Vanuatu) and the client agreement, best execution, conflicts of interest and other policies of Vantage Markets (Pty) Ltd, and gives Vantage Global Prime LLP’s registration number OC376560 and address, 7 Bell Yard, London. Vantage’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.
Limited liability partnership incorporated on 2 July 2012 as Atom8 Financial Services LLP and renamed in November 2017; registered office 7 Bell Yard, London WC2A 2JR. Members: Shunyu Li and Simon David Denham (designated members) and Ruby Victory Holdings Limited. Since 12 July 2024 Jie Tang has been registered as holding more than 50% but less than 75% of the voting rights and surplus assets, and Reggie Yiyan Chen as entitled to more than 25% but not more than 50% of the surplus assets. Accounts are filed up to 30 June 2025.
Consob found that www.vantagefx.com redirected to www.vantagemarkets.com, which was available in Italian, offered trading in forex and CFDs and said “Vantage is a trademark of Vantage Global Limited”, based in Vanuatu, and that cold calling of Italian retail investors had been reported. It ordered the cessation of the unauthorised provision of investment services to the Italian public through those sites.
First published on 2 April 2026: vantagemarkets.com is not authorised by the FCA and may be providing or promoting financial services or products in the UK without permission. The FCA notes that it is not associated with Vantage Global Prime LLP (FRN 590299) and that people who deal with it will not have access to the Financial Ombudsman Service.
An archived copy, taken on 2 May 2026, of Vantage’s fund insurance page. It says clients have insurance underwritten by Lloyd’s of up to USD 50 million in aggregate, up from a previous USD 1 million limit, so that if Vantage cannot meet its financial obligations clients’ funds remain insured, subject to terms and conditions, and that client funds are held in segregated trust accounts with top-tier Australian banks, which it does not name. Vantage’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.
An archived copy, taken on 26 March 2026, of Vantage Global Limited’s risk disclosure notice, version of 20 July 2025. It warns that clients can lose more than their invested capital. Vantage’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.
For investment firms that failed after 1 April 2019, the FSCS pays up to £85,000 per eligible person, per firm. The £120,000 limit, from December 2025, is for deposits.
An archived copy, taken on 22 May 2026, of Vantage’s international deposit and withdrawal page, which describes withdrawals through the client portal without giving fees or processing times. Vantage’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.
An archived copy, taken on 9 October 2025, of the Australian deposits and withdrawals policy. Withdrawals are generally processed within 24 hours and arrive in 1 to 5 business days (3 to 5 by bank wire), Vantage charges no deposit or withdrawal fees although banks may, and funds are returned to the original source. Vantage’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.
Consob found that www.vantage-markets.com replicated www.vantagemarkets.com, referred to Vantage Global Limited of Vanuatu and offered its contractual documents to Italian users, and that complaints had been received from Italian individuals who said, among other things, that they could not get their money back. It ordered the cessation of the infringement through that site, adding to resolution 22587 of 2023.
ASIC found that Vantage Global Prime Pty Limited lacked adequate systems and controls to prevent employees misusing confidential client trading information; a senior employee had used client trading information for personal trading. ASIC found no evidence that clients lost money. Vantage undertook to appoint an independent expert, not to appoint the employee as a director for 12 months, train its representatives and pay AUD 95,000 to The Ethics Centre.
Market alert published on 18 June 2025: Vantage International Group, Vantage International Holding Limited, Vantage FX Pty Ltd and Vantage Global Prime Ltd, which hold the Vantage Markets brand and maintain www.latam.vantagemarkets.com, were seeking clients resident in Brazil without CVM authorisation. By Ato Declaratório 23.510 of 13 June 2025 the CVM ordered them to stop offering securities intermediation services, under a daily fine of BRL 1,000.
On 5 October 2026 we searched ASIC’s licensee data and media releases, the FCA’s list and warnings, Consob’s resolutions, CySEC’s 1,173 board decisions, the CVM’s declaratory acts, KNF’s lists and the Indian, Securities Commission Malaysia and Bank Negara Malaysia alert lists, and ran web searches for other actions. The findings on this profile are what we found. FCA and Malaysian entries for other names containing “Vantage” are unrelated firms or clones.
Lists Vantage Global Limited, Port Vila, Vanuatu, warned on 29 March 2023 for soliciting over-the-counter derivatives trading over the internet without registration in Japan; the service named is “Vantage”. It also lists Vantage Prime Trading Limited (St Lucia, 2024 and 2025) and Vantage Trading Ltd. (Mauritius, August 2026) under similar service names; we have not linked those companies to Vantage.
An archived copy, taken on 25 March 2026, of the Australian complaints policy. Complaints can be made by telephone, email or letter; Vantage gives written reasons within 30 calendar days where a complaint is not resolved within 5 business days, and tells clients they can escalate to the Australian Financial Complaints Authority. Vantage’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.
The Financial Commission, a private dispute resolution organisation, lists Vantage as an active member registered on 3 October 2022, with a compensation fund of EUR 20,000 per complaint.
Neither dataset includes Vantage Global Prime LLP, and the ombudsman has published no decisions about it; both datasets publish firm-level figures only above minimum complaint volumes.
An archived copy, taken on 8 September 2026, of Vantage’s international account comparison. Spreads start from 0.0 pips with commissions from USD 1.50 per lot per side on some accounts, the minimum deposit is USD 50, and the margin call and stop-out levels are 50% and 20% for STP and ECN accounts. It gives no maximum leverage. Vantage’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.
An archived copy, taken on 31 August 2026, of Vantage’s spreads page, with spreads from 0.0 pips on RAW ECN accounts and 1.0 pip on Standard STP accounts and examples for major currency pairs. Vantage’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.
vantagemarkets.com, vantagemarkets.co.uk and the other Vantage hosts we found, including the document links, refused our automated requests on 5 October 2026 with a Cloudflare check page. We read archived copies of Vantage’s pages instead, but the archive holds no readable copy of the Vanuatu client agreement or of the UK site.
An archived copy, taken on 25 March 2026, of the Australian leverage page, which says retail clients can use leverage of up to 30:1 on major currency pairs, with lower limits on other products, under ASIC’s product intervention order. Vantage’s own sites refused our automated requests, so we read the copy kept by the Internet Archive.
Reports that influencers directed UK consumers to Vantage’s offshore platform without UK protections, that Vantage International Group Limited in the Cayman Islands paid the UK partnership £4.27 million in commissions over two years, and that Vantage UK says it is legally separate from the other Vantage entities.
Records Ato Declaratório 23.510 of 13 June 2025 against Vantage Global Prime Ltd, Vantage Markets, Vantage International Holding Limited, Vantage International Group and Vantage FX Pty Ltd, published in the official gazette on 18 June 2025.
Lists entities not authorised to deal in forex or operate forex trading platforms in India. Entry 40 is Vantage Markets, https://www.vantagemarkets.com.
Includes an entry dated 2021 for “VantageFX / Vantage Markets / Vantage Malaysia” (www.vantagefx.com, www.vantagemarkets.com and related social media pages) for carrying on unregulated activities.
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