Vantage, VT Markets and BullWaves tested with real accounts: spreads, commissions, and withdrawals from your country. An honest ranking, updated monthly.
From $50, TradingView, copy trading, bonus
CFDs are complex instruments with a high risk of losing money
Dubai office, Raw ECN, crypto withdrawals
CFDs are complex instruments with a high risk of losing money
MT5, ECN from 0.1, copy trading, deposit bonus
CFDs are complex instruments with a high risk of losing money
Pass the one- or two-stage Hash Hedge challenge, get funded with up to $200,000 and keep up to 90% of the profit. Trade around the clock, weekends included: oil, metals, equities, indices and 160+ crypto assets.
Partner content. Trading carries the risk of losing capital; the challenge fee is not refunded on a failed attempt.
| Vantage 4.6/5 | VT Markets 4.5/5 | BullWaves 4.0/5 | |
|---|---|---|---|
| Regulation | ASIC, FCA, FSCA, CIMA, FSC Mauritius, VFSC | ASIC, FSCA, FSC Mauritius, CMA UAE | FSA Seychelles |
| Trust score | 91/100 | 88/100 | 74/100 |
| Founded | 2009 | 2015 | 2023 |
| Min. deposit | $50 | $100 | $100 |
| Spread | from 1.0 pip (Standard STP) | from 1.1 pips (Standard STP) | from 1.6 pips (Classic) |
| Commission | $3 per lot per side (Raw ECN) | $3 per lot per side (Raw ECN) | $3 per lot per side (ECN) |
| Max leverage | up to 1:1000 (offshore entity) / 1:30 (ASIC) | up to 1:500 (offshore entity) / 1:30 (ASIC) | up to 1:500 (1:200 energies, 1:20 shares) |
| Platforms | MT4, MT5, TradingView, Vantage App, ProTrader | MT4, MT5, TradingView, VT App | MT5 |
| Instruments | 1 000+ | 1 000+ | 200+ |
| <built-in method copy of dict object at 0xedcf599189c0> | ✓ | ✓ | ✓ |
| Swap-free | ✓ | ✓ | ✓ |
| Cent account | ✓ | ✓ | — |
| Deposit bonus | ✓ | ✓ | ✓ |
| Client insurance | ✓ | ✓ | — |
| Open account | Open account | Open account |
Every broker goes through the same checklist: legal entities and licences, live spreads measured in the terminal at different times of day, deposit and withdrawal conditions from specific countries, support quality, and restrictions for non-residents. Reviews are refreshed monthly and every page shows its last check date.
Vantage — if you want a low entry point, TradingView, copy trading and deposit bonuses, backed by ASIC and FCA licences and Lloyd's insurance. Strongest in Asia-Pacific, Central Asia and Latin America.
VT Markets — if you are in the UAE, Turkey or MENA: a Dubai office with a local CMA licence, fast crypto funding and Raw ECN at $3 per side.
BullWaves — if you trade on MT5 and want the cheapest ECN account plus copy trading in one place, and you accept that the licence is offshore and the track record is short.
Vantage and VT Markets. Both hold ASIC and FSCA licences and insure client funds through Lloyd's of London up to $1 million; VT Markets adds a local CMA licence in Dubai. BullWaves holds only a Seychelles FSA licence and has traded since 2023. What matters most is which group entity you sign with in your country; our country pages cover that.
Vantage from $50, VT Markets and BullWaves from $100. For sensible risk management we suggest starting with at least $500, otherwise the 0.01 minimum lot already means a large risk per trade.
All three are close on commission accounts — roughly 0.7 pips all-in on EURUSD for Vantage Raw ECN, VT Markets Raw ECN and BullWaves ECN. The gap is on the entry-level accounts: about 1.0 pip at Vantage, 1.1 at VT Markets and 1.6 at BullWaves.