CMC Markets
Varengold Bank
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Overview
CMC Markets was founded in 1989 and is headquartered in UK, while Varengold Bank was established in 2008 and is based in Germany. CMC Markets holds licences including Financial Conduct Authority (FCA), while Varengold Bank is regulated by Unregulated among others. CMC Markets serves 10,000+ clients worldwide; Varengold Bank has 10,000+. The minimum deposit is $200 at CMC Markets and $250 at Varengold Bank.
| Feature | CMC Markets | Varengold Bank |
|---|---|---|
| Min. Deposit | $200 | $250 |
| Regulation | Financial Conduct Authority (FCA) | Unregulated |
| Founded | 1989 | 2008 |
| Country | UK | Germany |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between CMC Markets and Varengold Bank, directly affecting your bottom line as a trader. CMC Markets has a lower barrier to entry with a minimum deposit of $200 (vs $250 at Varengold Bank). Both brokers charge withdrawal fees. CMC Markets applies inactivity fees on dormant accounts; Varengold Bank does not. Overall, CMC Markets scores higher on fees in our assessment.
| Feature | CMC Markets | Varengold Bank |
|---|---|---|
| Min. Deposit | $200 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | No |
| CFD Fees | No | Yes |
Platforms
CMC Markets offers MT4, MT5, cTrader, while Varengold Bank supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Varengold Bank supports social and copy trading features, which CMC Markets does not offer. The two brokers are closely matched on platform offering.
| Feature | CMC Markets | Varengold Bank |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Web Trader, Binary, Tablet & Mobile apps | Desktop,Android,iPhone,Mac |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how CMC Markets 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. CMC Markets scores higher overall in education and research.
| Feature | CMC Markets | 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. CMC Markets 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 | CMC Markets | 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 CMC Markets and Varengold Bank offer live chat support. Both provide phone support. Email support is available at both brokers. CMC Markets supports 8 languages and Varengold Bank supports 2, giving CMC Markets broader global reach. Both brokers are comparable on support quality.
| Feature | CMC Markets | Varengold Bank |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, German, French, Polish, Spanish, Swedish, Italian, and Norwegian | English, and Chinese |