Varengold Bank
XM
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
Varengold Bank was founded in 2008 and is headquartered in Germany, while XM was established in 2009 and is based in Cyprus. Varengold Bank holds licences including Unregulated, while XM is regulated by International Financial Services Commission(IFSC) among others. Varengold Bank serves 10,000+ clients worldwide; XM has 3,500,000+. The minimum deposit is $250 at Varengold Bank and $5 at XM.
| Feature | Varengold Bank | XM |
|---|---|---|
| Min. Deposit | $250 | $5 |
| Regulation | Unregulated | International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) |
| Founded | 2008 | 2009 |
| Country | Germany | Cyprus |
| Clients | 10,000+ | 3,500,000+ |
Fees
Fees are a critical factor when choosing between Varengold Bank and XM, directly affecting your bottom line as a trader. Varengold Bank has a lower barrier to entry with a minimum deposit of $250 (vs $5 at XM). Varengold Bank charges withdrawal fees while XM does not, a notable advantage for frequent withdrawers. XM applies inactivity fees on dormant accounts; Varengold Bank does not. Overall, XM scores higher on fees in our assessment.
| Feature | Varengold Bank | XM |
|---|---|---|
| Min. Deposit | $250 | $5 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | Yes | No |
Platforms
Varengold Bank offers MT4, MT5, cTrader, while XM 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 | Varengold Bank | XM |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Desktop,Android,iPhone,Mac | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Varengold Bank and XM 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 | Varengold Bank | XM |
|---|---|---|
| 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. Varengold Bank accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while XM supports 3 (bank transfer, credit/debit card, Neteller). XM uniquely supports Neteller among the two brokers. XM scores higher on deposit and withdrawal flexibility.
| Feature | Varengold Bank | XM |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Varengold Bank and XM offer live chat support. Both provide phone support. Email support is available at both brokers. Varengold Bank supports 2 languages and XM supports 20, giving XM broader global reach. Both brokers are comparable on support quality.
| Feature | Varengold Bank | XM |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish |