VTB24 Account types have the option to open one standard live account. VTB24 Forex live account comes with competitive trading conditions as well as comprehensive solutions and services.
VTB24 Forex at a Glance
| 🔎 Broker's Name | VTB24 Forex |
| 📍 Headquartered | Moscow, Russia |
| 📅 Year Founded | 2016 |
| ⚖️ Regulating Authorities | FSCM of Russia |
| 🌐 Countries not accepted for trade | United States |
| ☪️ Islamic account (swap-free) | No |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | No |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 1: 40 |
| 💰 Minimum Deposit | $ 0 |
| 💳 Deposit Options | Interbank transfers, VTB online banking and current account with the bank |
| 💳 Withdrawal Options | Interbank transfers, VTB online banking and current account with the bank |
| 💻 Platform Types | MetaTrader5 |
| 📱 OS Compatibility | Windows, Android, and iOS |
| 📈 Tradable assets offered | 24 Forex currency pairs |
| 👨💼 Languages supported on Website | English and Russian. |
| 👥 Customer Support Languages | English and Russian. |
| 📆 Customer Service Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Min Deposit
USD 0
Regulators
FCSM
Trading Platform
MT5
Crypto
No
Total Pairs
24
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
VTB24 Forex Account types – 11 key points quick overview:
VTB24 Forex at a Glance- VTB24 Forex Account types – 11 key points quick overview:
- VTB24 Forex Overview
- VTB24 Forex Account Types
- VTB24 Forex Account Features
- VTB24 Forex Demo Account
- VTB24 Forex Islamic Account
- VTB24 Forex Customer Reviews
- VTB24 Forex Pros and Cons
- Conclusion
- Frequently Asked Questions
VTB24 Forex Overview
VTB24 Forex is a financial company operating in Russia that has headquarters in Moscow. The broker is the first authorized forex dealer that operates from the banking sector. It is part of the VTB Bank which is one of the largest Russian banks.
VTB Bank (PJSC) is VTB24 Forex’s liquidity provider that is also one of the oldest Russian participants in the Interbank Foreign Exchange Market. It provides the service of issuing loans, receiving deposits, and implementing of other banking operations for individuals and legal entities.
VTB Bank has been providing investment services on the Russian stock market since 2008. It also deals with foreign currencies on the Moscow Stock Exchange, federal loan bonds, mutual funds, ETFs, deals with Eurobonds, and foreign shares on the over-the-counter market.
The bank operates as an investment holding company that includes more than 20 credit and financial firms covering the major financial market segments, including brokerage services.
Through its subsidiary company, VTB24 Forex which was established in 2016 began to offer its customers Internet trading services.
The broker only offers trading in 24 forex pairs through the MetaTrader5 platform. Clients can register for one live standard account type and beginner traders also have the option to practice trading through a demo account.
VTB24 Forex is registered, authorized, and licensed by the Central Bank of the Russian Federation and is part of the independent self-regulatory organizations National Forex Dealers (NAFD) and Association of Forex Dealers (AFD).
Furthermore, the investment brokerage services are provided by VTB Bank (a Public Joint-Stock Company) and authorized by the Federal Commission for Securities Market (FCSM) of Russia.
VTB24 Forex does not accept clients from the United States.
VTB24 Forex Account Types
Traders who want to make use of the services offered by VTB24 have the option to open one standard live account. Beginner traders also have the option to open a demo account.
Although VTB24 Forex only offers one trading account it comes with competitive trading conditions as well as comprehensive solutions and services. Trading is only offered on currency pairs.
VTB24 Forex Account Features
Live Account
The live account offered by VTB24 Forex has the following features. There is no minimum deposit requirement and the maximum leverage for opening positions is 1: 40. The account can only be used to trade in forex currency pairs.
The minimum transaction amount is 0.5 lots which come down to 50 000 units of the base currency. The base currencies accepted are RUB, USD, and EUR.
The broker does not charge any commissions and withdrawal must be carried out on the same day of application.
Open the account can be started from links that can be found on the company’s homepage. In addition, clients can also go into any of the 600 branches of VTB Bank to register for a forex account or it can be done online.
After completing the online registration form traders will receive confirmation that the account has been verified and clients can go ahead and deposit funds into the account via the three payment methods that are accepted.
Next, you must install MetaTrader5 and can then start trading. Finally, the broker recommends that before concluding a framework agreement, the client acquaint themselves with the demonstration of the MetaTrader5 platform as well as the broker’s regulations and other documents regulating the relationship between the client and the forex broker.
VTB24 Forex Demo Account
On more than one page on the VTB24 Forex website, it is recommended that traders should practice trading first by opening a demo account.
With a demo account traders have the choice to make use of the virtual money that brokers offer to traders to practice trading with. It is not clear on the VTB24 Forex website what the balance of virtual money is that is offered. It is also not clear how long the demo account is valid.
Many brokers offer virtual money in the amount between $ 5 000 and $ 100 000 virtual monies. It can be used to sport real-time trading conditions and is usually valid for a period of 30 days.
With VTB24 Forex, it is an easy and hassle-free process to sign-up for a demo account. The demo account also has the same features as the live account offered by the broker.
As soon as the trader is registered, demo trading can commence once the trader has downloaded and installed the MetaTrader5 platform.
Traders can use the demo account to practice trading without the risk of losing any money. Most of the time it is utilized by beginner traders who wish to improve their trading skills and experience in a risk-free environment using virtual funds.
It can also be used by the more advanced trader who would like to evaluate and compare brokers and would like to explore the trading conditions of VTB24 Forex. They can test their trading strategies in the mimicked live trading environment without the risk of losing any of their capital.
VTB24 Forex Islamic Account
Most broker, especially those operating in the Middle East offers an Islamic Account for Muslim traders who must follow Sharia law.
This law prevents its followers from paying any type of interest, such as overnight fees. It is seen as wasteful or exploitative.
Traders that hold positions open for longer after the trading day has concluded are charged overnight fees.
With the Islamic Account, traders are exempted from paying such fees or interest.
Unfortunately, VTB24 Forex does not offer the option to open an Islamic Account.
VTB24 Forex Customer Reviews
Spreads are acceptable but they could be lower. The customer department is good, very dedicated to clients. Other than that, the service is not bad at all, and the order execution is smooth. They can give you useful advice, offer you timely information, good spread, leverage, and bonus after completing the lot size. I have cooperated with them for one year. And get on well. From a professional perspective, they support me to make much money. No problems with withdrawals at all. Profits always reach my card/bank within 2-3 working days as promised.
I have observed my SL or TP execute the right position, where I set and platform never Disobedient to me. My all withdrawals have proceeded within 4 hours via Wire Transfer. Overall I have rated VTB 24 8 out of 10. VTB 24 has been the best broker among many brokers I have ever traded in 3 years. Luckily, the process of withdrawal is smooth, and this broker refunded me my money in a short time. In addition, this is the first platform I have traded on that gives me the price I click instantly, no waiting, no manipulation.
I think it is a very good broker for many reasons. But most importantly they are paying for my profits. Some of my trading results, last week were the best trading results. fund security as far as I know is good. They never do any wrong to me. My trading results are always satisfying.
VTB24 Forex Pros and Cons
| ✔️ Pros | ❌ Cons |
| Charges no commission | Clients from the United States not accepted |
| Offers a demo account | Fixed spread accounts not offered |
| Offers educational tools | Offers no Islamic Account |
| Offers MetaTrader5 | Offers only one live account type |
| Offers research tools | Trading only offered on currency pairs |
| Regulated through FSCM |
Conclusion
Overall, VTB24 has the option to open one standard live account. VTB24 Forex live account comes with competitive trading conditions as well as comprehensive solutions and services.
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Frequently Asked Questions
TRADING ENVIRONMENT
How many instruments can I trade with VTB24 Forex?
You can trade in 24 currency pairs.
Does VTB24 Forex offer leverage?
Yes. Leverage of up to 1: 40.
What spreads can I expect with VTB24 Forex?
You can expect spreads that start from 3 pips.
Does VTB24 Forex charge commission?
VtB24 Forex does not charge any commission but if traders top up an account in a foreign currency, a commission of 0.75% is charged with the transfer amount.
What is the overall rating out of 10 for VTB24 Forex?
6/10.
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