First Trade
Varengold Bank
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Overview
First Trade was founded in 2008 and is headquartered in USA, while Varengold Bank was established in 2008 and is based in Germany. First Trade holds licences including Securities and Exchange Commission (SEC), while Varengold Bank is regulated by Unregulated among others. First Trade serves 10,000+ clients worldwide; Varengold Bank has 10,000+. The minimum deposit is $5 at First Trade and $250 at Varengold Bank.
| Feature | First Trade | Varengold Bank |
|---|---|---|
| Min. Deposit | $5 | $250 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Unregulated |
| Founded | 2008 | 2008 |
| Country | USA | Germany |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between First Trade and Varengold Bank, directly affecting your bottom line as a trader. Varengold Bank has a lower barrier to entry with a minimum deposit of $250 (vs $5 at First Trade). Both brokers charge withdrawal fees. First Trade charges deposit fees; Varengold Bank does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | Varengold Bank |
|---|---|---|
| Min. Deposit | $5 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | Yes |
Platforms
First Trade 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 First Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | First Trade | 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,WEB | Desktop,Android,iPhone,Mac |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how First Trade 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. First Trade scores higher overall in education and research.
| Feature | First Trade | 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. First Trade 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 | First Trade | 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 First Trade 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 | First Trade | Varengold Bank |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |