PLEASE NOTE: THIS GERMAN BROKER IS NO LONGER ACTIVE! Do not get confused with the website varengold.de, it also belongs to Varengold Bank AG but varengoldbankfx.com has stopped as a forex broker completely in every country and closed all accounts. If you had an account with them you should have been contacted.
Short translation for all German traders: Der Broker Varengold Bank FX hat seine Aktivitäten weltweit eingestellt. Bitte wenden Sie sich über die untenstehenden Kontaktinformationen an Varengold. Varengold fungiert weiterhin als Bank, es geht hierbei nur um den Geschäftsbetrieb als Forex Broker und die damit verbundenen Konten auf varengoldbankfx.com.
What can traders do now?
If you didn`t get notified or just found out right now, that the broker Varengold Bank FX Broker no longer exists, you can try to contact varengold.de and ask about your closed account.
Here is some contact information:
Tel.: +49 40 66 86 49 0
Fax: +49.40.66 86 49 49
Head of Communications – Marc Morian
Tel.: +49 (0) 40 66 86 49 0
More information on the closure
Screenshots before the site went offline
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Currently varengoldbankfx.com can no longer be reached at all.
About Varengold Bank FX
Varengold Bank FX was a german forex broker who operated at varengoldbankfx.com. Varengold Bank FX, like any Forex broker, also offered CFD trading. At this point, however, we will initially only deal with the foreign exchange trading segment. Forex trading falls under the area of derivatives, as the trader does not actually acquire the underlying asset, but only an abstract right. This does not require the use of the full trading volume, but only a percentage depending on the leverage.
Varengold Bank FX with uniform leverage
Unlike other brokers, the level of leverage at Varengold Bank FX does not depend on the respective currency pair or the arbitrariness of the broker, but is 1 : 200 across all tradable currency pairs. This gives the investor a margin of 0.5 percent on the traded amount. The smallest tradable size is a Minilot, which corresponds to 10,000 units of a currency. A Minilot ERU/USD means the trade of 10,000 Euros. A total of 42 currency pairs are available for trading in the foreign exchange segment. The spread is based on two cornerstones. On the one hand, the account model influences the spread, and on the other, the currency pair itself. Varengold Bank FX offers two account models for trading. The standard account requires a minimum deposit of 2,500 euros and calculates the spread for a EUR / USD trade at 2.48 pips. The premium account is available to investors with a deposit of 25,000 euros or more and is based on 1.48 pips for EUR/USD. The difference in the commission calculation for the broker is always one pip, regardless of the currency pair.
Forex trading as an alternative financial investment
Trading with Varengold ForexThe Forex trade, whether executed through Varengold Bank FX or another broker, is detached from the environment that affects equity markets, for example. Currencies are always traded, after all, with over 5 trillion US dollars a day it is the market with the largest turnover. Since traders also have the opportunity to earn money with falling markets within the framework of short positions, it ultimately remains the same in which direction the respective currency pairs develop. The prerequisite is, of course, that the trader or day trader recognizes the corresponding trading signals and chooses the most promising strategy.
Although Varengold Bank FX stands out as a broker from the mass of foreign brokers, the company attaches great importance to the education and training of its clients (see Varengold experience). The Hamburgers, one of the few German Forex brokers, do not distinguish themselves by selling foreign exchange trading as a loose exercise, but by an absolutely serious business conduct which is aimed at the investors who also understand Forex as a serious craft. To learn this, the Hanseaten offer numerous seminars and a free Forex demo account. The demo account is structured absolutely analogously to the real trading account, so that a later flowing transition is guaranteed.
The trading platform
Varengold Bank FX was the first German broker to make the MetaTrader 4 platform available for trading, which has proven its worth over many years. With the additional tools TraderFox and FXSTAT, this platform can be expanded to a trading base that meets even the highest demands in foreign exchange trading. Forex trading is a fast business. So it is understandable that traders want to access their account at any time and from anywhere using mobile devices. To meet this demand, Varengold Bank FX provides two apps on its website that support both iOS- and Android-based terminals.
Those who have familiarized themselves with the platform and tools to such an extent that they can leave the demo account and enter into real trading with foreign currencies have the chance to attract attention with Varengold Bank FX in the context of the talent search.
This German broker not only claims to be a premium provider in FX trading, but also underlines this claim in all respects. No matter whether beginner, professional or asset manager, the Hanseaten are one of the first addresses in foreign exchange trading.