VTB24 Forex, a subsidiary of Russia’s second largest bank, VTB24, has recently launched the MetaTrader 5 (MT5) platform. The minimum amount to start an account stands at ₽50,000 ($883.1), while the minimum for a trade is 50,000 base currency units.
With the new MT5 online trading platform, traders have access to 24 currency pairs, including those with the Russian ruble. They can now also make deposits into trading accounts at VTB24 and through the website without paying commission. All withdrawals are commission free, as well.
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Alexander Sokologorsky, the CEO of VTB24 Forex, commented: “We have never faced an issue of selecting a trading terminal. We have previously used MetaTrader 5 to render Forex services in VTB24. The platform has earned the deserved popularity both among our customers and technical support staff. We strive to provide customers with the best service at all stages, including fast registration in almost 700 offices across Russia, comfortable trading conditions via the convenient desktop and mobile platform, as well as simple ways to deposit and withdraw funds. Therefore, we are glad to continue our cooperation with MetaQuotes Software Corp. We hope for a long and efficient joint work.”
In September 2016, VTB24 Forex became the first financial entity in the banking sector to be granted a license to render services to the Russian Over the Counter (OTC) market.
In May, VTB24, via VTB24 Forex and Finam Forex, two Russian brokerages, was finally allowed to advertise and approach clients after being regulated by the Association of Forex Dealers (AFD).