Eightcap
Varengold Bank
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Overview
Eightcap was founded in 2009 and is headquartered in Australia, while Varengold Bank was established in 2008 and is based in Germany. Eightcap holds licences including Australian Securities and Investment Commission (ASIC), while Varengold Bank is regulated by Unregulated among others. Eightcap serves 10,000+ clients worldwide; Varengold Bank has 10,000+. The minimum deposit is $100 at Eightcap and $250 at Varengold Bank.
| Feature | Eightcap | Varengold Bank |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Regulation | Australian Securities and Investment Commission (ASIC) | Unregulated |
| Founded | 2009 | 2008 |
| Country | Australia | Germany |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Eightcap and Varengold Bank, directly affecting your bottom line as a trader. Eightcap has a lower barrier to entry with a minimum deposit of $100 (vs $250 at Varengold Bank). Both brokers charge withdrawal fees. Eightcap applies inactivity fees on dormant accounts; Varengold Bank does not. Overall, Eightcap scores higher on fees in our assessment.
| Feature | Eightcap | Varengold Bank |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | No |
| CFD Fees | No | Yes |
Platforms
Eightcap offers MT4, 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. The two brokers are closely matched on platform offering.
| Feature | Eightcap | 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 | MT4, 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 Eightcap and Varengold Bank compare. Varengold Bank runs regular live webinars; Eightcap does not. Varengold Bank has a video library; Eightcap does not. Varengold Bank publishes daily market commentary; Eightcap does not. Varengold Bank integrates third-party research tools (Trading Central); Eightcap does not. Varengold Bank maintains an archive of past webinars for on-demand viewing. Varengold Bank scores higher overall in education and research.
| Feature | Eightcap | Varengold Bank |
|---|---|---|
| Forex Education | No | No |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Eightcap 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 | Eightcap | 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 Eightcap 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 | Eightcap | Varengold Bank |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |