FP Markets
Varengold Bank
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Overview
FP Markets was founded in 2005 and is headquartered in Australia, while Varengold Bank was established in 2008 and is based in Germany. FP Markets holds licences including Australian Securities and Investment Commission (ASIC), while Varengold Bank is regulated by Unregulated among others. FP Markets serves 10,000+ clients worldwide; Varengold Bank has 10,000+. The minimum deposit is $100 at FP Markets and $250 at Varengold Bank.
| Feature | FP Markets | Varengold Bank |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Regulation | Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Unregulated |
| Founded | 2005 | 2008 |
| Country | Australia | Germany |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between FP Markets and Varengold Bank, directly affecting your bottom line as a trader. FP Markets has a lower barrier to entry with a minimum deposit of $100 (vs $250 at Varengold Bank). Varengold Bank charges withdrawal fees while FP Markets does not, giving FP Markets an edge for frequent withdrawers. FP Markets charges deposit fees; Varengold Bank does not. Overall, FP Markets scores higher on fees in our assessment.
| Feature | FP Markets | Varengold Bank |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | Yes |
Platforms
FP Markets 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 | FP 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 | MT4, MT5, IRESS, Mac, Web Trader, 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 FP 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. The two brokers are evenly matched on educational content.
| Feature | FP Markets | Varengold Bank |
|---|---|---|
| Forex Education | No | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. FP Markets accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while Varengold Bank supports 2 (bank transfer, credit/debit card). FP Markets uniquely supports PayPal and Skrill and Neteller among the two brokers. FP Markets scores higher on deposit and withdrawal flexibility.
| Feature | FP Markets | Varengold Bank |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | 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 FP Markets and Varengold Bank offer live chat support. Both provide phone support. Email support is available at both brokers. Varengold Bank offers multilingual support. Both brokers are comparable on support quality.
| Feature | FP Markets | Varengold Bank |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | Not available | English, and Chinese |