Advertising as the most transparent Forex trading environment Vantage FX invites new and old clients to join their rebate program. Claiming that following this rebate program you will effectively lower your cost per trade on Standard STP accounts and make your Forex trading more cost effective.
You will get the option to join the rebate program if you make a minimum deposit of US $ 1000. After the initial deposit comes in, you will get 10% of the amount of your deposit in credit. Credits that you receive cannot be traded or withdrawn.
Every time you make a transaction, VantageFX will convert the credit into funds and transfer it to your account according to the trading volume. Credit is converted using the formula [Standard lots traded] x $ 2 = Real equity rebate.
When you make a deposit of US $ 1000 you will receive a credit of US $ 100. Using the formula above, if you make a transaction of 25 lots then you will receive a rebate of (25 lots) x $ 2 = $ 50. Your original credit of US $ 100 will be reduced by $ 50 and transferred to your trading account. Credit that has been converted can be withdrawn without any restriction.
From the example above it can be concluded that even though you get $ 2 for each lot traded, your total rebate is limited to 10% of your deposit amount. So what happens after all credit is converted? Nothing. You can make a deposit of at least US $ 1000 again to get 10% credit back.
Honestly, this program is more like a bad deposit bonus program than a rebate program. With a limited amount of rebates this rebate program will be far below the similar program offered by other forex brokers.