TopForex
Varengold Bank
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Overview
TopForex was founded in 2009 and is headquartered in Cyprus, while Varengold Bank was established in 2008 and is based in Germany. TopForex holds licences including Cyprus Securities and Exchange Commission (CySEC), while Varengold Bank is regulated by Unregulated among others. TopForex serves 10,000+ clients worldwide; Varengold Bank has 10,000+. The minimum deposit is $100 at TopForex and $250 at Varengold Bank.
| Feature | TopForex | Varengold Bank |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | Unregulated |
| Founded | 2009 | 2008 |
| Country | Cyprus | Germany |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between TopForex and Varengold Bank, directly affecting your bottom line as a trader. TopForex has a lower barrier to entry with a minimum deposit of $100 (vs $250 at Varengold Bank). Both brokers charge withdrawal fees. Overall, TopForex scores higher on fees in our assessment.
| Feature | TopForex | Varengold Bank |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | Yes | Yes |
Platforms
TopForex 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 | TopForex | 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 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 TopForex 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. TopForex scores higher overall in education and research.
| Feature | TopForex | 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. TopForex 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 | TopForex | 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 TopForex 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 | TopForex | Varengold Bank |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |