Finmax
Varengold Bank
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Overview
Finmax was founded in 2008 and is headquartered in Bulgaria, while Varengold Bank was established in 2008 and is based in Germany. Finmax holds licences including Financial Services Authority (FSA), while Varengold Bank is regulated by Unregulated among others. Finmax serves 10,000+ clients worldwide; Varengold Bank has 10,000+. The minimum deposit is $0 at Finmax and $250 at Varengold Bank.
| Feature | Finmax | Varengold Bank |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Regulation | Financial Services Authority (FSA) | Unregulated |
| Founded | 2008 | 2008 |
| Country | Bulgaria | Germany |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Finmax and Varengold Bank, directly affecting your bottom line as a trader. Finmax has a lower barrier to entry with a minimum deposit of $0 (vs $250 at Varengold Bank). Varengold Bank charges withdrawal fees while Finmax does not, giving Finmax an edge for frequent withdrawers. Finmax applies inactivity fees on dormant accounts; Varengold Bank does not. Overall, Finmax scores higher on fees in our assessment.
| Feature | Finmax | Varengold Bank |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | No |
| CFD Fees | No | Yes |
Platforms
Finmax 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 Finmax does not offer. The two brokers are closely matched on platform offering.
| Feature | Finmax | 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,MT5 | Desktop,Android,iPhone,Mac |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Finmax and Varengold Bank compare. Varengold Bank runs regular live webinars; Finmax does not. Varengold Bank has a video library; Finmax does not. Varengold Bank publishes daily market commentary; Finmax does not. Varengold Bank integrates third-party research tools (Trading Central); Finmax does not. Varengold Bank maintains an archive of past webinars for on-demand viewing. Varengold Bank scores higher overall in education and research.
| Feature | Finmax | 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. Finmax 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 | Finmax | 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 Finmax 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 | Finmax | Varengold Bank |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |