VTB Forex

VTB Forex broker offers a wide range of services for traders seeking to successfully trade in the international currency market. This review covers the main aspects of the trading environment offered by VTB, including the types of instruments available, the trading platform, analytical support and educational resources.

Currency trading on Forex
VTB provides the opportunity to trade on Forex, which is the main activity of many traders. Forex is a dynamic market with high liquidity, where more than 5 trillion dollars are transacted daily.

Flexibility in account management
One of the attractive aspects of VTB is the absence of minimum deposit requirements, which makes access to trading possible for a wide range of investors, including novice traders with limited capital.

Trading Conditions
The minimum order volume is 0.5 lots, which may be higher than many other brokers, where the minimum order volume starts at 0.01 lots. The maximum leverage provided by VTB is 1:40, which gives traders sufficient flexibility to manage risk and scale positions.

The trading platform
VTB uses the modern and powerful MetaTrader 5 (MT5) platform, which is a leader among financial market trading platforms. MT5 offers advanced analytical capabilities, technical indicators and charting objects, as well as support for automated trading through Expert Advisors.

Analytical and training support
Daily analytics on major trading instruments help traders stay abreast of the latest market trends and make informed trading decisions. VTB also offers free Forex training through its Trading School, making it an attractive choice for beginners looking to expand their knowledge.

Tech Support
Round-the-clock customer support provides reliable assistance with any questions that may arise, which is especially important in the rapidly changing Forex market.

VTB Forex broker offers competitive conditions for traders who especially appreciate the convenience and accessibility of educational resources. Despite some limitations, such as a higher minimum order volume, the broker remains an attractive choice due to its reliability, advanced trading platform and extensive analytical support.

• Trading platform

  MT5, Mobile platforms

• Accounts

  Demo/Real

• Account currency

  RUB, USD, EUR

• Deposit/withdrawal

  Bank transfer in rubles, dollars, euros; VTB-Online

• Minimum deposit

  50 000 rubles

• Leverage

  1:40

• PAMM accounts

  no

• Minimum order

  0.5 lots

• Spread

  From 2 items

• Instruments

  Forex

• Margin call / Stop out

  100%/85%

• Liquidity provider

  no

• Mobile trading

  Mobile platforms

• Affiliate program

  no

• Order execution

  Instant Execution

• Trading features

  no

• Contests and bonuses

  no

Although VTB Forex offers clients exemption from deposit and withdrawal fees and no account inactivity fees, traders may face increased trading costs due to relatively high spreads compared to other brokers. These conditions make VTB Forex more suitable for medium to long term trading rather than day trading or scalping.

Trading commissions

VTB Forex’s main trading commissions include spreads, the size of which depends on the currency pair selected. While spreads are above average, VTB Forex has lower swaps than many of its competitors. The data for the main currency pairs is presented below:

• AUDUSD: Average spread – 3.5 pips, Buy swap – -3.30 pips, Sell swap – 8.70 pips.
• EURUSD: Average spread – 1.8 pips, Buy swap – -2.30 pips, Sell swap – 11.70 pips.
• GBPUSD: Average spread – 3.0 pips, Buy swap – -3.05 pips, Sell swap – 8.95 pips.
• NZDUSD: Average spread – 5.0 pips, Buy swap – -7.05 pips, Sell swap – 6.95 pips.
• USDCAD: Average spread – 4.0 pips, Buy swap -7.75 pips, Sell swap – 4.25 pips.
• USDCHF: Average spread – 3.0 pips, Buy swap – -11.14 pips, Sell swap – 2.86 pips.
• USDJPY: Average spread – 3.0 pips, Buy swap – -13.18 pips, Sell swap – 2.82 pips.

Other fees

VTB Forex also sets certain fees for additional services. For example, opening a separate nominal account costs 50,000 rubles. This offer is relevant only upon individual request for clients wishing to isolate their funds from those of other clients. By default, all clients have access to a common nominal account.

VTB Forex is a subsidiary of PJSC VTB Bank specializing in providing services on the Forex market. Since its establishment in 2004, the company has established itself as a reliable broker with a license from the Central Bank of Russia and membership in the Association of Forex Dealers (SRO AFD).

Regulation and reliability

• Regulator: Central Bank of the Russian Federation (CBRF)
• License: Received on September 1, 2016, number 045-13993-020000, unlimited period of validity.

Trading conditions

• Minimum deposit: 1 RUB/1 USD/1 EUR
• Maximum leverage: 1:40
• Trading Assets: Mostly Forex
• Trading platforms: MetaTrader 5

Types of trading accounts

• Standard Account: One single type of account with a choice of account currency (RUB, USD, EUR).

Spreads and commissions

• Spreads start from 1.8 pips for EURUSD. There is no commission for transactions, which makes VTB Forex attractive for traders who prefer long-term trading.

Platform and tools

• MetaTrader 5: Provides access to a wide range of tools for technical analysis, supports all types of trading operations, including forex and CFDs.

Training and analytics

• VTB Forex regularly publishes analytical reviews and forecasts, and provides access to the economic calendar and other analytical tools.
• Subscription to the analytics newsletter is available to all clients.

Technical support

• Open from 9:00 to 18:00 Moscow time.
• Available via phone, electronic form on the website, call-back and direct application to the bank’s branches.

Features of the account

• Depositing and withdrawing funds is commission-free when using VTB Bank’s services, which makes financial transactions convenient and profitable for customers.

Markets and products

• The offer is limited mainly to currency pairs, which may not suit the needs of traders looking for variety in the toolkit.

VTB Forex remains a reliable choice for traders who value the stability and quality of a large regulated broker, but some aspects, such as the limited selection of products and markets, may require additional consideration when choosing a broker to trade with.

Opening a VTB Forex account depends on whether you are already a VTB Bank client. Below are detailed instructions for both cases.

For VTB Bank customers:

1. Log in : Authorize in VTB Online, go to the “Services” section, then select “Investments”.
2. Account opening: On the “VTB Forex” tab, click “Open an account”.
3. Account Setup: Select account currencies and account for debiting. Give consent to the processing of personal data and click “Continue”.
4. Filling in the questionnaire : Fill in the brief questionnaire, activate the confirmation and click “Continue”.
5. Familiarization with documents: Carefully read the documents provided.
6. Confirmation and signing: Enter the code received by SMS and confirm signing the documents.

For non-customers of VTB Bank:

1. Document preparation: Visit a VTB Bank branch to have a copy of your passport certified.
2. Online registration: Go to lk.vtbforex.ru/2.0/, enter your phone number, receive a verification code and click “Login”.
3. Agree to the terms and conditions: On the page that opens, read the set of documents and confirm your agreement with them by SMS.
4. Completing the registration: Click “Open Contract” in the “Framework Contract” block. Fill in the personalized questionnaire and complete the questionnaire.
5. Payout Setup: Specify your ruble account details for withdrawal of funds.
6. Final Signing: Submit an application for opening a Framework Agreement by signing the final set of documents via SMS.

These instructions will provide you with clarity on the process of opening an account with VTB Forex, whether you are a new user or an existing VTB client. Pay attention to the requirements and documents provided to ensure successful registration and start trading.