Bitfinex
Varengold Bank
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Overview
Bitfinex was founded in 2015 and is headquartered in New Zealand, while Varengold Bank was established in 2008 and is based in Germany. Bitfinex holds licences including Financial Services Provider (FSP), while Varengold Bank is regulated by Unregulated among others. Bitfinex serves 10,000+ clients worldwide; Varengold Bank has 10,000+. The minimum deposit is $100 at Bitfinex and $250 at Varengold Bank.
| Feature | Bitfinex | Varengold Bank |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Regulation | Financial Services Provider (FSP) | Unregulated |
| Founded | 2015 | 2008 |
| Country | New Zealand | Germany |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Bitfinex and Varengold Bank, directly affecting your bottom line as a trader. Bitfinex has a lower barrier to entry with a minimum deposit of $100 (vs $250 at Varengold Bank). Both brokers charge withdrawal fees. Overall, Bitfinex scores higher on fees in our assessment.
| Feature | Bitfinex | Varengold Bank |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | Yes |
Platforms
Bitfinex offers MT5, cTrader, while Varengold Bank supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. Varengold Bank edges ahead on platform breadth and functionality in our scoring.
| Feature | Bitfinex | Varengold Bank |
|---|---|---|
| MT4 | No | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Android Apps,iPhone/iPad,Desktop | Desktop,Android,iPhone,Mac |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Bitfinex and Varengold Bank compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. Bitfinex scores higher overall in education and research.
| Feature | Bitfinex | Varengold Bank |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Bitfinex accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Varengold Bank supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Bitfinex | Varengold Bank |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Bitfinex and Varengold Bank offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Bitfinex | Varengold Bank |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |