VTB Forex operates as an investment holding company that includes more than 20 credit and financial firms covering the major the financial market segments, including brokerage services.
- Start year:2003
- Country of origin:Russia
- Regulation:FCSM of Russia
- Payment options:VTB online bank, interbank transfer, via VTB current account
- Minimum account size:RUR 50,000
- Minimum lot size:0.05
- Leverage:up to 1:45
- Spreads:from 3 pips
VTB provides investment services on the Russian stock market, deals with foreign currencies on the Moscow Stock Exchange, federal loan bonds, mutual funds, ETFs, deals with the eurobonds and foreign shares on the over-the-counter market. It also provides access to leading foreign markets, including the forex market. Such an assortment of services makes it highly competitive.
Investment brokerage services are provided by VTB Bank (Public Joint-Stock Company) authorized by the Federal Commission for Securities Market (FCSM) of Russia (license No. 040-06492-100000).
Not everyone knows that the functions of the FCSM were transferred to the Federal Financial Markets Service (FFMS) in 2004, and then these two bodies were abolished in 2013. Thus, the Central Bank of Russia became the sole regulator of the financial market.
Moreover, VTB Forex Company limited (a subsidiary of VTB Group established to serve individuals on Forex) is a first authorized forex dealer from the banking sector.
The company offers one account type, but trading conditions differ depending on an investment service a trader picks. To start trading with the company, an investor needs to deposit at least 50,000 RUR or $1,000. There are 24 currency pairs available, including ruble assets. Spreads start from 3 pips on EUR/USD under normal market conditions. Such spreads are quite high for the industry (compared with average 1.5-2 pips). But, on the other hand, this broker has a reliable reputation.
The leverage is 1:45 by default.
The deposit for stock market trading is 100 000 rubles.
Stock and forex traders can start from a demo account.
The company provides MetaTrader5 platform for trading developed by MetaQuotes. Meanwhile, MetaTrader4 is much more popular among traders. However, let’s have some overview of MT5. In general, the design and interface are similar to the previous version. MT5’s functionality was supplemented: traders can use 82 instruments, as well as graphic patterns and technical indicators. MT5 offers 21 time frames, in-built transactions calendar, 10 order types (2 market orders, 6 pending orders and 2 stop orders).
Despite the fact that the prevailing number of brokers and traders use MT4, it is fair to say that the transition to MT5 is inevitable. However, this is a long and time-consuming process for a number of technical reasons. And it is not clear when it will be completed.
For novice investors, the broker has extensive educational content, including articles about the forex and stock markets that cast light on main categories and concepts, a library of 145 books, video tutorials, interactive books, and a trading simulator.
Free seminars on investment services are held in Saint Petersburg, Russia.
Moreover, VTB launched two training centers in Moscow and Volgograd for everyone who would like to trade on the forex and stock markets. After completing the course, students receive a certificate. These projects were developed in association with universities.
Investment consulting is available within the framework of the Personal Broker program for VIP clients. A separate telephone line, trading ideas from managers, a large selection of instruments – that is only a small part of the program’s benefits.
To activate the Personal Broker service, customers from Moscow and the Moscow region need to have 15 million rubles on their account. For customers from other regions the amount is 10 million rubles.
VTB holds various contests for its investors. The winners get up to 20% discount on brokerage commission. Contest terms are published on the website in advance.
Unlike other companies, clients of VTB are allowed to make deposits through interbank transfers, VTB online bank and from a current account opened with the bank. In addition, VTB charges commission for money depositing.
VTB has offices countrywide. Addresses are available on the website. There are also contact details and a feedback form.
The broker offers the callback service for its clients, with traders being able to leave their phone numbers and indicate the desired time of the call so that a specialist can call back.