Press releases

Vantage FX chooses GBG to ensure compliant KYC checking

Published: Monday September 18, 2017

  • Backed by GBG's identity verification solution, Vantage FX brings swift, reputable and compliant forex trading to a global audience.
  • Vantage FX clients make best value, transparent trades via the powerful Vantage FX MetaTrader 4 and WebTrader platforms, plus multiple mobile trading apps

MELBOURNE, 18 September 2017 - GBG, the global specialist in identity data intelligence, today announced Australian forex broker Vantage FX has selected GBG ID3global to optimise its customer onboarding process. As well as identity validation and verification, the GBG solution also incorporates PEPs and Sanctions checking of high risk customers within one seamless real-time service.

Based in Sydney and Australian-regulated, Vantage FX offers online traders rapid access to the global currency markets. Open 24 hours a day, their customers can trade exactly when it suits them to do so. The Vantage FX RAW ECN trading environment is the most cost-effective Forex trading solution in the industry. Through Electronic Communications Networks (ECNs) traders deal directly with other participants in the currency markets. Access to “raw” spreads means Vantage FX clients gain tighter, best value spreads without mark-up from the brokerage.

It also guarantees full transparency. Vantage FX can never trade directly against their clients – an allegation often directed against some unscrupulous retail forex brokers.

In fact, reputation is everything in today’s forex market. Able to verify the identity of over 4.4 billion people, GBG’s identity verification solution helps ensure that Vantage FX’s KYC (Know Your Customer) checking processes comply completely with the regulatory requirements set by ASIC, the Australian Securities and Investment Commission, and AUSTRAC, Australia's financial intelligence agency.

In turn, this compliance with Australia’s tough regulatory regime – rather than other, laxer, jurisdictions – gives every client the fullest confidence in Vantage FX’s trustworthiness and stability.

Adopting GBG ID3global means Vantage FX can now verify most new online customers immediately, with a maximum 24-hour turnaround for all account openings if further investigation is required. This will significantly reduce the amount of manual processing needed for KYC checking, saving on staff costs and providing an excellent customer experience.

“Vantage FX is excited to announce we are working with GBG,” said David Bily, Director of Sales and Marketing. “By implementing GBG ID3global technology into our forex broker operations, Vantage FX remains at the forefront of business trends. As you may know, transparency and security are key elements of what makes us great and clients of Vantage FX can gain added confidence from our adoption of GBG services.”

“We’re delighted to be working with Vantage FX and helping them enhance the reputation of FX in the wider brokerage and trading industry,” commented Nigel Clark, General Manager, Identity Verification at GBG. “Online broking is now the standard way to trade forex and our platform helps ensure every new customer that Vantage FX acquires is onboarded securely, swiftly and compliantly. We’re looking forward to supporting them as they continue their exciting expansion into new global markets.”

About GBG
GBG is a global specialist in Identity Data Intelligence. We help organisations make decisions about the customers they serve and the people they employ.

Through our fundamental belief that the digital economy relies on everyone having access to data they can trust, GBG enables companies and governments to fight fraud and cybercrime, to improve the customer experience and help to protect the more vulnerable people in our society.

Headquartered in Chester (UK) and with people in 17 countries, GBG provides solutions to many of the world's biggest organisations, from established brands like HSBC and Zurich Insurance to disruptive newcomers such as Stripe and Plus500.

Find out more about how we use identity intelligently by visiting www.gbgplc.com/uk, following us on Twitter @GBGplc and reading our newsroom: www. gbgplc.com/uk/newsroom

About Vantage FX
Vantage FX is a leading Australian forex broker, giving traders access to the global forex market through its powerful Vantage FX MetaTrader 4 and WebTrader platforms, plus multiple mobile trading apps for iPhone and Android devices. MetaTrader 4’s industry-leading, fibre optic network allows traders to experience super-fast trade execution, as well as inter-bank grade, RAW ECN spreads.

Since the company’s inception in 2009, Vantage FX has built a worldwide reputation as a safe and secure forex broker. With its head office based in Sydney, Australia, Vantage FX operates under the strict oversight of the Australian Securities and Investment Commission (ASIC), widely recognised as the most trusted regulatory commission worldwide.

Vantage FX has also become one of the highest ranked forex brokers, winning a number of industry awards from respected financial rating institutions for its unparalleled security and transparency.

Find out more about Vantage FX at www.vantagefx.com