Before starting to make money on Forex, all newcomers choose for themselves a brokerage company with which they will have to cooperate in the future. Each organization provides traders with trading conditions, which may vary. For example, for trading on Forex in some brokerage companies, the minimum deposit may be only one US dollar, and in others - from 2500 dollars.
And also before starting work with the selected broker, who is an intermediary between the client and the financial markets, it is necessary to check its reliability and the availability of relevant documentation. Among the huge variety of brokerage companies, one can single out the VTB Forex dealer, reviews of which the reader will find in this article, as well as learn about the trading conditions that this organization provides to customers.
About company
VTB broker is a subsidiary of VTB 24 commercial bank. His specialization is the provision of trading services in the financial markets for traders and investors exclusively for the foreign exchange market. The history of this Forex dealer began in 2010, and so far it has been providing services to its customers. The broker has all the necessary documentation and a license to carry out such activities from the Bank of Russia. He is a member of the National Association of Forex Dealers. Its offices are located in many cities of the Russian Federation, and the main one is in the city of Moscow.
The features of the "Forex" broker VTB include its narrow specialization with ECN-contracts. As a result, all transactions of traders are displayed on the real market, and are not distributed among clients, as in other companies. For trading, he offers 32 currency pairs as trading assets.
According to the reviews of VTB Forex, one can understand that one cannot use the method of locking positions, since there are no such conditions on the interbank market. Therefore, many traders perceive this fact as a disadvantage compared to other brokerage organizations where such opportunities exist. And in addition, the VTB broker does not have CFD tools, and customers are invited to trade exclusively in the assets of the foreign exchange market.
According to traders and their reviews of VTB Forex, the following can be noted as positive points:
- lack of fees for registering a trading account, as well as its maintenance;
- no trading fees;
- relatively small spreads.
However, it is worth considering that on popular and underlying assets, such as cross pairs, spreads periodically expand, that is, increase. This feature can be seen at the beginning of the trading week and when the most important macro and micronews are released. As traders note, when expanding spreads, it becomes difficult to trade scalping strategies, and sometimes simply unprofitable. This fact also applies to trading using automated programs that work on the Scalping algorithms.
Conditions for trading at VTB Forex
Forex broker VTB offers very convenient and favorable conditions for traders and investors. Each interested client can engage in speculative operations with the selected trading asset and earn money in the financial markets
For traders the opportunity to open an account with VTB "Forex" with a minimum deposit of 50 thousand rubles. This amount will be enough to enter the market and comfortable trading. All clients can use both an independent trading option, making speculative transactions, and automated methods using advisers and robots.
As traders note, auto trading significantly reduces time costs and allows you to earn in a passive round-the-clock mode, without making independent transactions and without applying an analytical forecast of market movement.
The VTB broker has the opportunity to use three options for trading platforms:
- MetaTrader.
- OnlineBroker is an online platform where you can make transactions without downloading software and using a browser.
- Quik.
And also clients can always use mobile trading.
Mobile trading
What it is? This is the same trading at VTB Forex without any changes, but only from mobile devices. Many traders call this method very convenient, since they can be practiced anywhere from their phone. The main thing is access to the Internet.
According to reviews of VTB Forex, mobile trading is provided to customers in two versions:
- in free access on the MetaTrader platform;
- paid alternative on the Quick marketplace.
However, there are some limitations. For example, mobile trading on MetaTrader is available with only 30 currency pairs, and there is no way to simultaneously trade in the Online Broker platform. And also ruble assets are available only in viewing mode. But you can use any automated program.
If you consider Quik, then although you have to pay, but the trader will have the opportunity to trade on the stock and derivatives markets FORTS. Here you can also use robots and additionally view the news background presented in the trading terminal.
The mobile version is very relevant when there is no way to trade in the usual mode from a computer or laptop. For example, while resting, away or for a walk. Such trading allows you to control existing positions and open new orders, replenish your trading account, leave applications for withdrawing funds, resolve issues in the support service and much more.
Trading conditions
Trading conditions at VTB Forex attract many customers. In the rating of brokerage companies licensed by the Bank of Russia, this organization occupies one of the leading places.
Trading conditions have the following parameters:
- At VTB Forex, the minimum deposit is 50,000 rubles or 1,000 US dollars.
- All trading financial transactions are calculated in Russian rubles.
- Withdrawal of funds and replenishment of a trading account occurs within the framework of the established regulations.
- At VTB Forex, the minimum lot does not exceed 0.5.
- The spread may change periodically, since it depends on certain market conditions, that is, on the liquidity and volatility of the selected trading asset. In addition, the size of the lot affects these indicators. Average values in normal market conditions with low volatility range from 2.5 points to 5 points (including up to 10 lots). Up-to-date information is always indicated on the broker's official website.
- 32 instruments of currency pairs.
- Leverage up to 1:45 (forced closing of transactions upon reaching leverage 4:50).
- Margin trading during one trading session.
Each client can replenish their deposit funds in several ways: through bank transfers (cards of third-party banks), with a VTB card or using the application, through the VTB Internet bank. To withdraw funds from the trading account, you must first leave a request, and you can also use the phone number. However, such a service is available only to customers of VTB Bank, who opened a trading account through this structure, and not to all traders and investors of the Forex dealer.
It should be borne in mind that when withdrawing funds, a commission will be charged, namely 13% of income tax. According to traders, this fact is an indicator of the reliability of the company and a guarantee of the withdrawal of funds in a timely manner.
Investments at VTB
For investors, as well as for traders, the broker offers very favorable and convenient conditions. The most popular version is investing in PAMM accounts. At VTB Forex PAMM accounts you can choose your own or take the help of experts.
PAMM Account Earnings Scheme:
- Choose a managing trader.
- Invest the desired amount on the investment account.
- Get income and withdraw earned profit.
The PAMM account algorithm works as follows. The managing trader opens an investment account, having previously replenished it independently. Then other investors connect to it and transfer their money to this investment account. As a result, the manager trades in a significantly larger account financially. After a certain time, which is stipulated in the terms of the contract, the profit earned by the managing trader is divided among the participants in the investment account, that is, between investors. This separation occurs in percentage terms.
If, for example, the total amount before the start of trading was $ 10,000, and during the month the manager was able to increase it by 50% to $ 15,000, then the profit received is shared among all investors in a percentage ratio. Those who invested 10% will receive the same amount of profit; if the investor's share at the beginning was 30%, then in the future he will receive the same profit from the total profitability. The manager himself, under the terms of the PAMM-account agreement, receives remuneration for performing trade operations and earning profit on this account.
Types of Trading Accounts
As for trading accounts, the broker provides three types. Each client can choose for himself the most profitable option, taking into account their financial capabilities.
Types of accounts at VTB Forex:
- "Investor Standard."
- "Professional standard."
- "Universal".
The first option is great for beginners who have little experience trading in the financial markets. The broker's commission in this case will be 0.04% for all trading operations. It does not depend on the trading daily turnover, which, undoubtedly, is a positive side.
The Professional tariff is designed for more advanced traders with experience and skills in trading who actively trade. Commission fees in this case depend on the daily number of transactions (trade) and range from 0.02% to 0.04%. At the "Universal" tariff, the size of the commission varies from 0.02% to 0.09% per day.
Demo account
All beginners can start trading with a VTB dealer in demo mode. This method allows you to get the first trading skills and experience in using the platform. VTB Forex demo account is an excellent solution for beginners who are planning to become professional players in the financial markets in the future. This is the first step on the ladder to a professional career. According to customers of VTB Forex, the demo version is a completely safe tool, and it excludes any financial risks. All transactions made by the trader occur on virtual units, which can be independently selected in the parameters when opening a demo account. And also the client can choose a leverage, which will allow him to bring testing closer to real future opportunities.
In addition, the demo version is used not only by beginners, but also by experienced traders. They check the work of new technical indicators, trading strategies, select parameters for them and improve general indicators. In the future, they use the obtained results on real trading accounts.
According to traders of VTB Forex, a demo account is great for testing automated programs such as robots, experts or advisers. In order not to risk their own money, they launch robots in a demo version and record the results.
Almost every beginner takes his first steps in trading on a virtual training account. On it, he learns to open and close positions, calculate and place protective orders that limit losses and fix profit. It is here that he studies the functionality of the trading platform, the operation and settings of technical indicators, graphical constructions, learns to conduct technical analysis of the market and much more.
Binary options on VTB
After the broker received a Russian license to provide services in this field of activity, he expanded the opportunities for traders. Now they can use not only standard speculative transactions, but also VTB Forex binary options. The broker guarantees a return on option contracts of up to 80%.
Unlike the Forex market, binary options have two differences:
- Option contracts are concluded with a certain expiration time, that is, they are limited. As soon as the contract expires, the option will be considered completed and the transaction closed. There is no statute of limitations on Forex, and a trader can keep a deal an unlimited amount of time.
- In options trading, contract profitability or loss is known in advance. That is, if a trader opens a position in the right direction, he will receive a guaranteed profit, agreed upon when buying a contract. If he receives a loss, then in this case he will lose only the initial amount of the bet.
VTB broker offers its clients a wide variety of trading assets: company stocks, bonds, securities, metals, commodities, market indices and other instruments.
Binary options trading takes place on a special platform where you can choose the amount of the bet, the type of trading asset and contract, Put option or Call, expiration time, as well as carry out graphical and technical analyzes of market movements. The platform has all the necessary functionality for trading with binary contracts. Its interface is provided in good quality and is understandable even for beginners.
Training for traders and investors
The broker pays special attention to new customers. A training program was developed for them, which includes the following "disciplines":
- Financial market terminology. With it, a beginner can learn the basic concepts of trading (what is a trend, momentum, flat, point, pip, lock, hedge, consolidation, accumulation zone, lot, swap, spread and much more).
- Theoretical knowledge. This section allows you to get an idea of the laws of the financial market and the rules of trading on it.
- Trading tools. A newcomer gets acquainted with the types, features and characteristics of basic investment assets. He learns about their advantages and disadvantages, parameters and when it is necessary to use an asset in accordance with a specific market phase.
- Tools for trading. In this section, novice traders get acquainted with various technical indicators, automated programs, trading signals, and the method of copying transactions. They will learn about the features of trading instruments, their proper use in trading / investing and for analyzing market movements.
- Market forecasting. One of the most voluminous and complex sections. Beginners get information about the rules for forecasting market movements, how to do this and what tools to use in analytics. Here they learn to use analytical and statistical data to analyze market quotes. In addition, the novice trader receives the necessary knowledge on the types of forecasting (fundamentals of fundamental analysis, technical and graphical methods).
- Choosing a trading strategy. The broker provides information on various trading techniques, rules for opening and closing positions, parameters, setting indicators, placing protective and profit-fixing orders.
- Demo account. Acquaintance with the functionality of the trading platform, working out the chosen strategy. This is the final stage of training, which equates to practice.
According to VTB Forex broker reviews, all clients have access to various webinars, video tutorials, reviews and recommendations from experts, as well as other necessary information. In addition, they have the opportunity to receive personal advice, answers to questions and recommendations from managers and specialists.
Trader Reviews
According to traders, a VTB Forex dealer is great for investment and for long-term trading. It provides customers with a complete portfolio of tools. This is a reliable broker with the appropriate documentation and license, which you can trust your money. Among the negative aspects, only a few cases of slow work of the support service can be distinguished. But still, positive reviews about the brokerage company remain a priority and outweigh the negative comments.