Overall VTB24 Forex is a trustworthy and low-risk broker with an overall rating of 5 out of 10. VTB24 Forex is authorized and regulated by FSCM and offers leverage up to 1: 40.
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 Review – 21 key points quick overview:
VTB24 Forex Overview
According to research in South Africa, VTB24 Forex is a Russian company founded in 2016 with headquarters in Moscow, Russia.
The broker is a subsidiary company of VTB 24 Bank that was founded in 2008 and is one of the largest Russian banks, providing the service of receiving deposits, issuing loans, and implementing other banking operations for individuals and legal entities.
Besides operating as an investment holding company it also provides investment services on the Russian stock market. As such it deals with foreign currencies on the Moscow Stock Exchange, federal loan bonds, mutual funds, ETFs, and deals with Eurobonds, and foreign shares on the over-the-counter market.
VTB 24 Forex offer trading in forex pairs via the MetaTrader5 trading platform.
VTB24 Forex Safety and Security
VTB24 Forex is part of VTB 24 Bank which is one of the leaders of the Russian stock market and the largest forex market maker in Russia.
VTB24 Forex is a licensed forex dealer with license number 045-13993-020000. It is a 100% subsidiary of VTB Bank (PJSC) and specializes in providing services to individuals in the Forex market. The regulating authority is the FCSM of Russia.
The broker is a participant in two self-regulatory organizations, the National Association of Forex Dealers (NAFD) and the Association of Forex Dealers (AFD)
VTB24 Forex Sign-up Bonus
VTB24 Forex does not offer a sign-up bonus.
No deposit bonus, sign-up bonus, or welcome bonus is offered to traders who register a real account with VTB24 Forex.
Even though VTB24 Forex does not offer bonuses, rewards, or any other promotions, traders should not be discouraged by this as the broker still offers attractive trading conditions.
Through these types of bonuses brokers often attempt to draw new customers to partake in trading activities. The offering of a welcome bonus or anything of this kind, allows traders to receive some money back which will depend on the initial deposit made by the trader.
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 Minimum Deposit
There is no minimum deposit required when opening a live account with VTB24 Forex.
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. It provides the service of issuing loans, receiving deposits, and implementing other banking operations for individuals and legal entities.
Through its subsidiary company, VTB24 Forex which was established in 2016 began to offer its customer’s Internet trading services.
`VTB24 Forex is registered, authorized, and licensed by the Central Bank of the Russian Federation and 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.
It is a requirement by most regulatory bodies and financial institutions, amidst several other strict rules and regulations, that all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.
VTB24 Forex Step-by-step guide to depositing the minimum amount
Deposits can be made with VTB24 using the following steps:
Step 1 – Log in
Traders can fund their accounts from links on the homepage of VTB24 Forex by filling in the online deposit form. In addition, traders can also go into one of the 600 VTB Bank branches.
Step 2 –Make the deposit
After a trader has registered for an account and provided their passport, mobile phone number, and email address they can go ahead and top up the account via VTB-online.
The only currencies accepted are RUB, USD, and EUR and funds must be transferred in the same currency as the bank account to which they are sending them.
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
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. 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.
How to set up a VTB24 Forex Demo Account – Step by Step
Traders can follow these steps to register for, and set up a demo account with VTB24 Forex:
Step 1 – Open Your Account
- Select the link that states ‘Open demo account’ after navigating to the VTB24 Forex website.
- Step 2 – Fill out the form
- Next, traders will be redirected to a page where they can sign up for a demo account.
- Traders fill out the online registration form by providing their First and Last Name, telephone number, and email.
- Traders also accept the Privacy Policy terms and provide permission to be contacted by the broker.
- Once traders have submitted their details, they will receive an email at the address that they provided. The email will contain the trader’s demo account number, automatically generated password, and server.
- Also contained in the email is an embedded link to activate the trader’s personal area.
- Step 3 – Download MetaTrader5
- Finally, traders download the MetaTrader5 platform and trading can commence.
Demo accounts are also seen as practice accounts since it provides traders with the freedom and ability to explore what a broker is offering. The advantage is that traders can trade without running the risk of suffering any losses since the broker provides virtual money with which to practice trading.
Traders use the demo accounts to familiarize themselves with the live trading environment that a broker offers. They can use it to build up their trading skills by actively participating in trades and developing their own trading strategies.
Demo accounts are not only for beginners but they can also be used by more experienced traders and allow them to explore what VTB24 Forex has to offer.
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 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 Trading Platforms
The forex trading platform provided by VTB24 Forex to its clients is the software to carry out their trades. Some brokers provide only one, and others quite a few platforms.
A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.
VTB24 Forex offers only the MetaTrader5 platform to trade with. Although MetaTrader4 is the more popular platform, the design and interface of MT5 are very similar.
With MT5 traders can use 82 instruments as well as graphic patterns and technical indicators. It offers 21 time frames, an in-built transactions calendar, and 10 order types.
The MT5 platform is available for Windows, iOS devices, and Android in English and Russian.
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 Fees and Spreads
With VTB24 Forex’s spreads start from 3 pips on EUR/USD.
The minimum transaction size for trading in the 24 currency pairs offered by VTB24 Forex, starts from 0.5 lots, which corresponds to 50 000 units of the base currency.
Although spreads start from 3 pips they should not be less than 10 and not more than 75 currency units.
If an order is submitted on the day of application before 13:00 Moscow time, VTB24 Forex does not charge any commission.
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 Deposit and Withdrawal
Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done in the same ways, but sometimes differ.
In the case of VTB 24 Forex an initial minimum deposit is not required to start trading on the foreign exchange market, but to trade on the stock market the minimum deposit is RUB50 000 or $1 000.
Funding accounts can only be done through interbank transfers, VTB online banking, and from a current account opened with the bank. It also charges a commission for the deposit of money. Deposits can be made in RUB, USD, and EUR.
Withdrawing money is done directly from the VTB Capital Forex account and no commission is charged on the day the application is received if the order is submitted on a working day before 13:00 Moscow time.
VTB24 Forex vs Etoro vs XM – Comparison Table
| 🔎 Broker | 🥇VTB24 Forex | 🥈 eToro | 🥉 XM |
| 💰 Minimum Deposit | $ 0 | $1000 USD | $5 USD |
| 📝 Sign-Up Bonus | No | ☑️ Yes | ☑️ Yes |
| ➕ Max. Leverage | 1: 40 | 1:400 | 1:888 |
| 💵 Currency Pairs | – | 47 | 57 |
| 🚀 Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here |
VTB24 Forex Best Countries by Traders
| 🌎 Country of Trade | 📌 % of Traders |
| 🥇Russia | 99.00% |
| 🥈Belarus | 0.32% |
| 🥇Netherlands | 0.16% |
| 🥈Czech Republic | 0.13% |
| 🥇United States | 0.09% |
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 a lot of 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 with within 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, with no waiting, and 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 Pro and Cons
| ✔️ Pros | ❌ Cons |
| Regulated by FCSM | Only one account type |
| MetaTrader5 | Only three currency types |
| Educational tools | Limited trading assets |
| Research tools |
Conclusion
Overall, VTB24 Forex can be summarised as a credible and trustworthy broker and is considered competitive trading conditions as well as comprehensive solutions and services. VTB24 Forex offers traders the MetaTrader suite of platforms.
Disclaimer
VTB 24Forex is a brand of VTB Forex LLC used as part of the business of VTB Capital Investments, a unified platform for investment services of VTB Group.
While the broker promises to make all efforts to fill a trade at the requested price, trading online does not necessarily reduce risks associated with currency trading, therefore quotes and trades are usually subject to the terms and conditions of a Client Agreement.
The proposed contracts or financial instruments are highly risky and may lead to the loss of the deposited funds in full.
Potential traders should first acquaint themselves with all these associated risks and seek advice from an independent financial advisor, according to research in South Africa.
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Frequently Asked Questions
Is VTG24 Forex a fake or a scam?
No.VTB24 Forex is a licensed forex dealer with license number 045-13993-020000. It is a 100% subsidiary of VTB Bank (PJSC) and specializes in providing services to individuals in the Forex market.
Which platforms are supported by VTG24 Forex?
MetaTrader5
What are the advantages of trading with VTG24 Forex?
VTB24 PAMM account managed by Energoregion. Investing in PAMM accounts provides an excellent source of passive income
What type of broker is VTG24 Forex?
VTB24 Forex, one of Russia’s eight regulated and licensed forex brokers
What is the overall rating out of 10 for VTB24 Forex?
5/10
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