WikiFX

Sagot

From my experience evaluating brokers, understanding their deposit and withdrawal charges is critical to managing trading costs and maintaining trust in the handling of my funds. With VANTAGE, I found there is no transfer fee when depositing funds into my account at certain specified banks—including Arab African International Bank, CIB, Ahli United Bank, Banque Misr, and NBK. For me, this was a small advantage, but the situation is different if my bank does not fall into this list. In such cases, a transfer fee is deducted, with a rate of 0.001 of the transferred amount, subject to a minimum charge of EGP 25 and a maximum of EGP 50, plus an additional EGP 20 swift fee. This means that, particularly if I use a bank outside their preferred network or if I trade from abroad, withdrawal and deposit activities can quickly become expensive relative to the account size. Moreover, since VANTAGE is unregulated, I am even more cautious about my withdrawals and any associated costs, as there may be limited recourse in dispute cases. For me, any cost structure—especially with withdrawals—requires careful scrutiny with an unregulated broker to avoid unexpected erosion of my funds. It’s not just the size of the fees that matters, but also the operational transparency and the risks associated with dealing with an unlicensed entity.