Aspect	Information
Company Name	VTB Forex
Registered Country/Area	Russia
Founded year	2010
Regulation	CBR（Suspicious Clone）
Minimum Deposit	None
Maximum Leverage	1:40
Spreads	Floating, starting from 0.3 pips
Trading Platforms	MetaTrader 5
Tradable assets	24 currency pairs
Account Types	Standard, ECN
Demo Account	Yes
Customer Support	24/7 live chat and phone support
Deposit & Withdrawal	Bank transfer, credit/debit card, e-wallets
Educational Resources	Webinars, articles, video tutorials

Overview of VTB Forex

VTB Forex, a Russian trading company founded in 2010, has raised regulatory suspicions, possibly marking it as a clone. Prospective traders should exercise caution before committing. Notably, it has no minimum deposit requirement, a maximum leverage of 1:40, and operates on MetaTrader 5 with 24 currency pairs. VTB Forex offers various account types, 24/7 customer support, diverse deposit/withdrawal options, and educational resources.

Overall, VTB Forex is a forex broker that offers a wide range of services and features to traders of all experience levels. VTB Forex is a good choice for traders，however, due diligence is essential due to regulatory concerns.

Pros and Cons

Pros	Cons
VTB Forex is part of the VTB Group	Not regulated by any financial regulatory authority
High-quality analytics from leading VTB specialists	Higher risk of fraud and financial loss
have access to 24/7 trading, 5 days a week	The trading platform might be complex for beginners.

Pros:

• Reliable: VTB Forex is part of the VTB Group, the key element of which is VTB Bank (PJSC), a bank with state participation.

• Profitable: High-quality analytics from leading VTB specialists, daily reviews and comments on global financial markets. No commission when performing trading operations on the FOREX market.

• Available: VTB Forex clients operating in the FOREX market have access to 24/7 trading, 5 days a week, from anywhere in the world where there is Internet access. The universal trading platform MetaTrader 5 is installed on a computer with the Windows operating system and mobile devices running on Android and IOS.

Cons:

• NFA has issued a warning about it: The NFA has issued a warning about Universe Forex, stating that it is a “suspicious clone” of a legitimate forex broker. This means that Universe Forex may be using the name and brand of a legitimate forex broker to defraud traders.

• Poorly designed website: The website of Universe Forex is poorly designed and contains some inaccurate information. This raises questions about the professionalism and trustworthiness of the broker.

• Negative reviews online: There are some negative reviews of Universe Forex online, with traders complaining about poor customer service and withdrawal problems. These reviews should be taken into account when deciding whether or not to trade with Universe Forex.

• Risky forex broker: Overall, Universe Forex is a risky forex broker. It is not regulated by a major financial regulator, and the NFA has issued a warning about it. Traders should be very cautious about trading with Universe Forex.

Regulatory Status

The Central Bank of Russia (CBR) regulation claimed by this broker is suspected to be clone. This means that the broker is not subject to any regulatory requirements and there is no guarantee that the broker is operating in a fair and honest manner.

Traders who choose to trade with a broker without any regulated licenses are at a high risk of fraud and financial loss. There have been many cases of unregulated forex brokers scamming their clients by manipulating their trading accounts, refusing to withdraw funds, or simply disappearing with their clients' money.

Market Instruments

VTB Forex offers the following market instruments for trading:

• Currency pairs: VTB Forex offers 24 currency pairs for trading, including the major pairs (EUR/USD, USD/JPY, GBP/USD, USD/CHF), the minor pairs (EUR/GBP, USD/CAD, AUD/USD, NZD/USD), and the emerging market pairs (USD/TRY, USD/MXN, USD/ZAR, USD/BRL).

• Metals: VTB Forex offers trading on gold and silver.

• Indices: VTB Forex offers trading on the US500, WallStreet 30, and UK100 indices.

VTB Forex does not offer trading on any other market instruments, such as commodities, CFDs, or stocks. This is a relatively limited range of market instruments compared to some other forex brokers. However, VTB Forex focuses on providing its clients with access to the most popular and liquid market instruments.

VTB Forex also offers its clients the ability to trade on margin. This means that traders can borrow money from brokers to increase their trading positions. Margin trading can be very profitable, but it is also important to note that it can lead to large losses if the market moves against the trader.

Overall, VTB Forex offers a limited range of market instruments for trading, but its focus on the most popular and liquid instruments is likely to appeal to many traders. Additionally, VTB Forex offers margin trading, which can be a great way to increase profits, but it is important to use it carefully.

Account Types

VTB Forex offers two main account types:

• Standard account: The standard account is the most basic account type offered by VTB Forex. It is a good choice for beginner and intermediate traders. The standard account has a minimum deposit of none and offers floating spreads starting from 0.3 pips.

• ECN account: The ECN account is a more advanced account type that is designed for experienced traders. The ECN account has a minimum deposit of $1,000 and offers tighter spreads but has a commission charge.

VTB Forex also offers a number of Islamic accounts that comply with Sharia law. Islamic accounts do not charge swap fees, which are interest-based charges that are typically charged on overnight positions.

The following table summarizes the key features of the two main account types offered by VTB Forex:

Feature	Standard account	ECN account
Minimum deposit	None	$1,000
Spreads	Floating, starting from 0.3 pips	Tighter spreads, with a commission charge
Commission	No	Yes
Islamic accounts	Yes	Yes

How to Open an Account？

To open an account with VTB Forex, you can follow these steps:

1. Go to the VTB Forex website and click on the “Open an Account” button.

2. Fill in the online application form. You will need to provide your personal information, contact information, and financial information.

3. Choose an account type. VTB Forex offers two main account types: the standard account and the ECN account.

4. Upload the required documents. You will need to upload a copy of your passport and a copy of a utility bill or bank statement as proof of residence.

5. Deposit funds into your account. You can deposit funds into your account using a variety of methods, including bank transfer, credit/debit card, and e-wallets.

6. Start trading! Once your account is funded, you can start trading on the VTB Forex trading platform.

Leverage

The maximum leverage offered by VTB Forex is 1:40. This means that traders can borrow up to 40 times their deposit to increase their trading positions.

Leverage can be a great way to increase profits, but it is important to use it carefully. Leverage can also lead to large losses if the market moves against the trader.

For example, if a trader has a deposit of $1,000 and uses 1:40 leverage, they can control a trading position worth $40,000. If the market moves in the trader's favor, the trader will make a profit of 40 times their initial deposit. However, if the market moves against the trader, the trader could lose their entire deposit and more.

It is important to note that the maximum leverage offered by VTB Forex is lower than the maximum leverage offered by many other forex brokers. However, a maximum leverage of 1:40 is still relatively high and it is important to use it carefully.

Spreads & Commissions

VTB Forex offers floating spreads that start from 0.3 pips on the EUR/USD currency pair. Spreads are the difference between the bid and ask price of a currency pair. The bid price is the price at which VTB Forex is willing to buy a currency pair, and the ask price is the price at which VTB Forex is willing to sell a currency pair.

VTB Forex also charges a commission on ECN accounts. The commission is charged per trade and is calculated based on the trading volume. The commission on ECN accounts is competitive with other forex brokers.

The following table summarizes the spreads and commissions offered by VTB Forex:

Account type	Spreads	Commission
Standard account	Floating, starting from 0.3 pips	No
ECN account	Tighter spreads, with a commission charge	Yes

The following are some additional things to note about VTB Forex spreads and commissions:

• Spreads are variable and can change depending on market conditions.

• Commissions on ECN accounts are charged per trade and are calculated based on the trading volume.

• VTB Forex offers a demo account so that traders can practice trading without risking any real money.

Trading Platform

VTB Forex offers the MetaTrader 5 (MT5) trading platform. MT5 is a popular and well-respected trading platform that is used by millions of traders around the world.

MT5 is a powerful trading platform that offers a wide range of features, and is also a very user-friendly trading platform. It is easy to navigate and use, even for beginner traders. VTB Forex also offers a demo account so that traders can practice trading on MT5 without risking any real money.

Overall, the MT5 trading platform is a powerful and user-friendly trading platform that is well-suited for traders of all experience levels.

Deposit & Withdrawal

VTB Forex offers a variety of payment methods for depositing and withdrawing funds, including:

• Bank transfer: Bank transfers are typically the most cost-effective way to deposit and withdraw funds, but they can take several days to process.

• Credit/debit card: Credit/debit card deposits are processed instantly, but there may be a fee associated with this method.

• E-wallets: E-wallets such as Skrill and Neteller are a convenient way to deposit and withdraw funds, but there may be a fee associated with this method.

The following table summarizes the deposit and withdrawal fees charged by VTB Forex:

Deposit method	Withdrawal method	Fee
Bank transfer	Bank transfer	Free
Credit/debit card	Credit/debit card	2%
E-wallet	E-wallet	2%

It is important to note that these fees are subject to change and VTB Forex may charge additional fees for certain deposit and withdrawal methods.

Customer Support

VTB Forex offers 24/7 customer support via live chat and phone. The customer support team is available to answer any questions that traders have about forex trading or VTB Forex's services.

The customer support team is also available to help traders with any technical issues they may be experiencing.

VTB Forex also has a dedicated education center that offers a wide range of educational resources, including webinars, articles, and video tutorials. These resources can help traders to learn about forex trading and VTB Forex's services.

Educational Resources

VTB Forex offers a variety of educational resources to help traders learn about forex trading and VTB Forex's services. These resources include:

• Webinars: VTB Forex offers a variety of webinars on a range of topics related to forex trading, such as technical analysis, fundamental analysis, and risk management.

• Articles: VTB Forex offers a variety of articles on a range of topics related to forex trading, such as currency pairs, trading strategies, and economic indicators.

• Video tutorials: VTB Forex offers a variety of video tutorials on a range of topics related to forex trading, such as how to use the MetaTrader 5 trading platform and how to open and close trades.

VTB Forex also offers a dedicated education center that offers a wide range of educational resources, including webinars, articles, and video tutorials. These resources can help traders to learn about forex trading and VTB Forex's services.

Overall, VTB Forex offers a good range of educational resources. The resources are well-written and informative, and they cover a wide range of topics related to forex trading.

Conclusion

VTB Forex is a forex broker that offers a wide range of services and features to traders of all experience levels. VTB Forex offers a variety of trading accounts to suit different needs and experience levels. VTB Forex also offers a demo account so that traders can practice trading without risking any real money. VTB Forex provides 24/7 customer support via live chat and phone. VTB Forex also offers a variety of educational resources to help traders learn about forex trading.

Overall, VTB Forex is a reputable forex broker with a number of advantages. However, it is important to note the Central Bank of Russia (CBR) regulation claimed by this broker is suspected to be clone. And traders may not have the same level of protection as they would with a broker that is licensed and regulated by a regulatory authority in a more developed country.

FAQs

Q: Does VTB Forex offer a demo account？

A: Yes, VTB Forex offers a demo account so that traders can practice trading without risking any real money.

Q: What is the maximum leverage offered by VTB Forex？

A: The maximum leverage offered by VTB Forex is 1:40.

Q: What are the spreads on the standard account at VTB Forex？

A: The spreads on the standard account at VTB Forex start from 0.3 pips.

Q: What trading platform does VTB Forex offer？

A: VTB Forex offers the MetaTrader 5 (MT5) trading platform. MT5 is a popular and well-respected trading platform that is used by millions of traders around the world.

Q: What payment methods does VTB Forex accept？

A: VTB Forex accepts a variety of payment methods for depositing and withdrawing funds, including bank transfers, credit/debit cards, and e-wallets.

Q: Does VTB Forex offer customer support？

A: Yes, VTB Forex offers 24/7 customer support via live chat and phone.

Q: Does VTB Forex offer educational resources？

A: Yes, VTB Forex offers a variety of educational resources, including webinars, articles, and video tutorials. These resources can help traders to learn about forex trading and VTB Forex's services.