Blitzbrokers
Varengold Bank
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Overview
Blitzbrokers was founded in 1982 and is headquartered in Hong Kong, while Varengold Bank was established in 2008 and is based in Germany. Blitzbrokers holds licences including Securities and Futures Commission (SFC), while Varengold Bank is regulated by Unregulated among others. Blitzbrokers serves 10,000+ clients worldwide; Varengold Bank has 10,000+. The minimum deposit is $1 at Blitzbrokers and $250 at Varengold Bank.
| Feature | Blitzbrokers | Varengold Bank |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Regulation | Securities and Futures Commission (SFC) | Unregulated |
| Founded | 1982 | 2008 |
| Country | Hong Kong | Germany |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Blitzbrokers and Varengold Bank, directly affecting your bottom line as a trader. Blitzbrokers has a lower barrier to entry with a minimum deposit of $1 (vs $250 at Varengold Bank). Varengold Bank charges withdrawal fees while Blitzbrokers does not, giving Blitzbrokers an edge for frequent withdrawers. Overall, Blitzbrokers scores higher on fees in our assessment.
| Feature | Blitzbrokers | Varengold Bank |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | Yes |
Platforms
Blitzbrokers 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 | Blitzbrokers | 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 | Desktop,WEB,Android | Desktop,Android,iPhone,Mac |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Blitzbrokers and Varengold Bank compare. Varengold Bank runs regular live webinars; Blitzbrokers does not. Both provide video tutorials. Varengold Bank publishes daily market commentary; Blitzbrokers does not. Both integrate third-party research tools. Varengold Bank maintains an archive of past webinars for on-demand viewing. Varengold Bank scores higher overall in education and research.
| Feature | Blitzbrokers | Varengold Bank |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Blitzbrokers 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 | Blitzbrokers | 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 Blitzbrokers 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 | Blitzbrokers | Varengold Bank |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |