PaxForex
Varengold Bank
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Overview
PaxForex was founded in 2011 and is headquartered in Saint Vincent and the Grenadines, while Varengold Bank was established in 2008 and is based in Germany. PaxForex holds licences including Financial Services Authority (FSA), while Varengold Bank is regulated by Unregulated among others. PaxForex serves 350+ clients worldwide; Varengold Bank has 10,000+. The minimum deposit is $10 at PaxForex and $250 at Varengold Bank.
| Feature | PaxForex | Varengold Bank |
|---|---|---|
| Min. Deposit | $10 | $250 |
| Regulation | Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825 | Unregulated |
| Founded | 2011 | 2008 |
| Country | Saint Vincent and the Grenadines | Germany |
| Clients | 350+ | 10,000+ |
Fees
Fees are a critical factor when choosing between PaxForex and Varengold Bank, directly affecting your bottom line as a trader. PaxForex has a lower barrier to entry with a minimum deposit of $10 (vs $250 at Varengold Bank). Both brokers charge withdrawal fees. PaxForex charges deposit fees; Varengold Bank does not. Overall, PaxForex scores higher on fees in our assessment.
| Feature | PaxForex | Varengold Bank |
|---|---|---|
| Min. Deposit | $10 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | Yes |
Platforms
PaxForex 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 | PaxForex | 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 | Web, iPad, mac, Desktop, iPhone iOS | Desktop,Android,iPhone,Mac |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how PaxForex 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. PaxForex scores higher overall in education and research.
| Feature | PaxForex | 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. PaxForex accepts 4 of the tracked payment methods (bank transfer, credit/debit card, Skrill, Neteller), while Varengold Bank supports 2 (bank transfer, credit/debit card). PaxForex uniquely supports Skrill and Neteller among the two brokers. PaxForex scores higher on deposit and withdrawal flexibility.
| Feature | PaxForex | Varengold Bank |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | 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 PaxForex and Varengold Bank offer live chat support. Both provide phone support. Email support is available at both brokers. PaxForex supports 15 languages and Varengold Bank supports 2, giving PaxForex broader global reach. Both brokers are comparable on support quality.
| Feature | PaxForex | Varengold Bank |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian | English, and Chinese |