Saxo Markets
Varengold Bank
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Overview
Saxo Markets was founded in 2012 and is headquartered in Denmark, while Varengold Bank was established in 2008 and is based in Germany. Saxo Markets holds licences including Financial Conduct Authority (FCA), while Varengold Bank is regulated by Unregulated among others. Saxo Markets serves 10,000+ clients worldwide; Varengold Bank has 10,000+. The minimum deposit is $6500 at Saxo Markets and $250 at Varengold Bank.
| Feature | Saxo Markets | Varengold Bank |
|---|---|---|
| Min. Deposit | $6500 | $250 |
| Regulation | Financial Conduct Authority (FCA) | Unregulated |
| Founded | 2012 | 2008 |
| Country | Denmark | Germany |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Saxo Markets 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 $6500 at Saxo Markets). Both brokers charge withdrawal fees. Saxo Markets applies inactivity fees on dormant accounts; Varengold Bank does not. The two brokers are broadly comparable on fee structure.
| Feature | Saxo Markets | Varengold Bank |
|---|---|---|
| Min. Deposit | $6500 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | No |
| CFD Fees | No | Yes |
Platforms
Saxo 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 | Saxo 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 | 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 Saxo Markets and Varengold Bank compare. Varengold Bank runs regular live webinars; Saxo Markets does not. Both provide video tutorials. Varengold Bank publishes daily market commentary; Saxo Markets does not. Both integrate third-party research tools. Varengold Bank maintains an archive of past webinars for on-demand viewing. Varengold Bank scores higher overall in education and research.
| Feature | Saxo Markets | Varengold Bank |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Saxo Markets 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 | Saxo Markets | 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 Saxo Markets 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 | Saxo Markets | Varengold Bank |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |