Fortrade
Varengold Bank
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Overview
Fortrade was founded in 1992 and is headquartered in UK, while Varengold Bank was established in 2008 and is based in Germany. Fortrade holds licences including Financial Conduct Authority (FCA) FRN: 609970, while Varengold Bank is regulated by Unregulated among others. Fortrade serves 10,000+ clients worldwide; Varengold Bank has 10,000+. The minimum deposit is $1 at Fortrade and $250 at Varengold Bank.
| Feature | Fortrade | Varengold Bank |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Regulation | Financial Conduct Authority (FCA) FRN: 609970, National Bank of the Republic of Belarus (NBRB) FRN: 193075810, Australian Securities and Investments Commission (ASIC) ABN: 33 614 683 831 | AFSL: 493520, Canadian Investor Protection Fund (CIPF) CRN: BC1148613, Cyprus Securities and Exchange Commission (CySEC) with CIF license number 385/20 | Unregulated |
| Founded | 1992 | 2008 |
| Country | UK | Germany |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Fortrade and Varengold Bank, directly affecting your bottom line as a trader. Fortrade has a lower barrier to entry with a minimum deposit of $1 (vs $250 at Varengold Bank). Varengold Bank charges withdrawal fees while Fortrade does not, giving Fortrade an edge for frequent withdrawers. Fortrade charges deposit fees; Varengold Bank does not. Overall, Fortrade scores higher on fees in our assessment.
| Feature | Fortrade | Varengold Bank |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | Yes |
Platforms
Fortrade 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 Fortrade does not offer. The two brokers are closely matched on platform offering.
| Feature | Fortrade | 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, 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 Fortrade and Varengold Bank compare. Varengold Bank runs regular live webinars; Fortrade does not. Varengold Bank has a video library; Fortrade does not. Varengold Bank publishes daily market commentary; Fortrade does not. Varengold Bank integrates third-party research tools (Trading Central); Fortrade does not. Varengold Bank maintains an archive of past webinars for on-demand viewing. Varengold Bank scores higher overall in education and research.
| Feature | Fortrade | 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. Fortrade accepts 4 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Neteller), while Varengold Bank supports 2 (bank transfer, credit/debit card). Fortrade uniquely supports PayPal and Neteller among the two brokers. Fortrade scores higher on deposit and withdrawal flexibility.
| Feature | Fortrade | Varengold Bank |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | No | No |
| Neteller | Yes | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Fortrade and Varengold Bank offer live chat support. Both provide phone support. Email support is available at both brokers. Fortrade supports 1 language and Varengold Bank supports 2, giving Varengold Bank broader global reach. Both brokers are comparable on support quality.
| Feature | Fortrade | Varengold Bank |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English | English, and Chinese |