VarengoldBank FX Forex Broker

Name of the Company Varengold Wertpapierhandelsbank AG
Established  in 1995
Online since 2008
International Offices in China, Germany, United Arab Emirates
Payment Methods Credit Cards, Debit Cards, PayPal, Wire Transfer
Demo Accounts & Platforms Meta Trader 4
Account currencies Euro, United States Dollar
Different Currency pairs AUD/CAD  AUD/CHF  AUD/JPY













Regulated and Registered by BaFin
Are US Traders Allowed? Yes
Languages in which website is available Arabic, Chinese, English, French, German, Russian, Spanish, Turkish
Languages in which support is available Arabic, Chinese, English, German, Russian, Spanish, Turkish,
Different Support methods Callback, Email, Live chat, Office, Phone,

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Types of account (micro standard executive islamic) Varengold Classic, Varengold Premium
Minimum account size $2,500
Minimum position size 0.1 lot
Type of spread Variable
Typical spread on EUR/USD, pips 4
Minimum spread on EUR/USD, pips 2
Is use of Expert advisors allowed? Allowed
Types of Trading instruments (GOLD; CFD, etc. and the leverage) Forex- 1:200, Gold & Silver- 1:100, CFD – 1:100, Stocks- 1:20, Futures – 1:100, Indexes- 1:100
Real Trading platforms Meta Trader 4, Zulu Trade, FXSTAT
Digits after the dot in quotes 5
Total Number of currency pairs 37
Is Free education available Yes
Is Trading by telephone allowed? Yes
Do they have segregated accounts? Yes
Islamic accounts available Yes
·        Is  Hedging allowed Yes
Facility of Overnight interest rates (swaps) Yes
Do they have Trailing stop? Yes
Do they have Pending orders? Yes
Mobile trading allowed? Yes
Browser-based platform present? Yes
Automated trading present? Yes

varengoldVarengoldBank is registered by the name VarengoldBank  Wertpapierhandelsbank AG and was founded way back in the year 1995. That time they did not had the facility of internet based online trading and it started only in the year 2008 in the view to reach larger section of traders. With offices in United Arab Emirates, china and Germany the company is regulated by BaFin, a regulatory agency. They have many features like free education in which they provide tutorials, webinars and videos on trading and forex markets. The traders have the facility of placing the order via telephone. Segregated account assures that the customer’s fund and the company’s funds are kept separate and hence are secure. Islamic accounts are available for Muslim traders who follow Islamic laws for trading. Other interesting features include trailing stops, pending orders, mobile trading and automated trading. Browser based platform saves you from the burden of downloading any software for trading. The methods of depositing and withdrawing funds include credit cards, debit cards, wire transfers and PayPal. The account currencies allowed are euro and United States Dollar and have 37 currency pairs which include all the major pairs to trade in.

The demo account is available to the customers with Meta Trader 4 as the trading platform. The same is also used while real trading along with Zulu Trader and FX Stat and hence traders can device their strategy of trading while using demo account if they choose Meta Trader 4. Both the website and customer support service is multi lingual and is available in 8 languages. Two types of accounts are available for the customer which include Varengold Classic and Varengold Standard and the minimum deposit required to open an account with them is $2500. The spread on the trade is variable and the trader will not know the cost of its trade before placing the order. The use of Expert Advisor is allowed.

The reviews for VarengoldBank FX are pretty good and most of them point out at their top class website which has all the relevant information needed by a customer or trader. Their customer support service is also liked by many for it being in many languages and at the same time the staffs are very friendly and prompt in their replies. The use of Expert Advisor is allowed and is liked by many traders as it helps in smooth trading. Other feature that is liked by many users is that they have many other trading instruments like Gold & Silver, CFD, Stocks, Futures and Indexes along with forex to trade in and earn profit. Some of the cons mentioned in the reviews are that the minimum deposit required to open an account with them is very high. The leverage on the trading instrument is very low and the highest is only up to 1:200 on Forex trading. However, the overall reviews are very positive and the average rating given to the company by its users is 5.8 out of 10.

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