VTB24

Information

Overview of VTB24 Forex

Trade Forex presents an in-depth look at VTB24 Forex, a prominent player in the Russian banking sector. This comprehensive analysis delves into the broker’s offerings, regulatory status, trading conditions, and the unique mix of advantages and challenges it presents to traders.

Regulatory and Licensing Status

• Bank VTB24 stands as one of Russia’s largest banks, offering a suite of services like deposits, loans, and various banking operations for individuals and corporations.
• Through its subsidiary, VTB 24 Forex, it has expanded into Internet-trading services.
• A key differentiator is its registration and licensing by the Central Bank of the Russian Federation (license № 045-13993-020000).
• Additionally, it is a member of the self-regulatory organizations NAFD (National Forex Dealers) and AFD (Association of Forex Dealers), enabling it to operate as a Forex dealer within Russia legally.

Trading Conditions

• Forex Trading: Specializes in currency trading.
• Minimum Deposit: There is no minimum deposit, catering to a wide range of investors.
• Order Size: The minimum order size is set at 0.5 lot.
• Leverage: Maximum leverage offered is 1:50.
• Trading Platform: Utilizes the MT5 trading platform.
• Support and Training: Offers daily analyst insights on major trading instruments and free Forex training through the VTB Broker Trading School.
• Technical Support: Provides multilingual technical support for traders.

Advantages of VTB 24 Forex

1. Official Licensing: As a licensed broker, it offers a secure trading environment.
2. Client Fund Protection: Ensures the safety of customer funds.
3. Interbank Market Access: Executes transactions predominantly with PJSC “VTB 24” as the liquidity provider.
4. Fee Structure: No commission is charged for account replenishment or fund withdrawal.
5. Market Access: Offers trading on FORTS MICEX stock markets for accounts with a deposit of 100,000 rubles.

Disadvantages of VTB24

1. Limited Financial Instruments: Offers a narrower range of trading instruments.
2. No CFD Contracts: Lacks CFD (Contract for Difference) trading options.
3. Platform Limitation: Does not support the popular MT4 trading platform.
4. Leverage and Lot Size: The low leverage and large minimum lot size may be unsuitable for beginners with limited capital.
5. Client Registration: Requires physical registration at VTB24 offices with mandatory identification.
6. Operational Restrictions: Currently, client registration is halted due to legislative requirements in Russia.

Market Adaptation and Future Outlook

• VTB24 Forex, licensed by the CBR in 2016, is navigating Russia’s evolving Forex market regulations.
• The market is adapting to stringent conditions such as lower leverage thresholds, limited trading instruments, and increased minimum deposit and trade lot requirements.
• These changes could professionalize the market but may also deter beginners.
• Trade Forex advises exploring other brokers, especially those offering more favorable conditions and catering to Russian traders, despite being offshore.

Conclusion and Feedback Invitation

In conclusion, while VTB24 Forex stands as a licensed and regulated option within Russia, its current operational constraints and the evolving regulatory landscape present a mix of opportunities and challenges. Trade Forex invites traders to share their experiences and feedback about VTB24 Forex, contributing to a comprehensive understanding of this broker’s position in the market.