Unbiased Forex Broker Experts

VarenGoldBankFX.com (Wertpapierhandelsbank AG) Review Visit site

Updated: Apr 14, 2017
2.739 · 31 REVIEWS
Is this your company?

Note to potential Varengold IBs and Affiliates: Forex Peace Army's IB relationship with Varengold was terminated and all referred accounts commissions stopped accumulating. When asked why they terminated the relationship, Varengold's response was "the reason of the cancellation was the introducing of clients and equity from your side was below under our expectations." While Varengold acted within the legal framework of the IB agreement, based on this experience we can not recommend anyone to engage in relations with this company.  Apparently, they can take your referrals with no warning, even if those referrals are generating significant commissions.

Other websites of this company include varengold.de

Varengold Bank FX are online forex brokers. VarengoldBank FX offers the MetaTrader 4, MT Mobile, and ZuluTrade forex trading top platforms. VarengoldBankFX.com offers over 30 currency pairs and cfds for your personal investment and trading options.

VarenGoldBankFX.com (Wertpapierhandelsbank AG)

Live discussion

Join live discussion of VarenGoldBankFX.com (Wertpapierhandelsbank AG) on our forum

Go to forums


Your company video here? Contact ad sales

Court cases

File a case

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty0
2.739 · 31 REVIEWS
Forex Peace Army

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

, Sweden,
Mar 10, 2015,

Best thing is they have several hundred different stocks to trade.
Spreads is not low but acceptable if your not a scalper.
Sometimes spikes has wiped out my positions, and I have had to send them an email to get the positions back up running again. A bit annoying, but they are quick to get them back if you mention their spike.
Mohamed Fathy,
Dubai, United Arab Emirates,
Feb 20, 2015,

One of the worst brokers I've ever worked with, every thing just sucks
- Very high spreads.
- late executions.
- Mobile app was not working, missed really good trades.
- Customer service sucks
- disabled my account for some paperwork and when I provided the documents by hand they left the account disabled for more than 24 hours while I'm begging them to enable it.
- said they have meta trader for the mac on their website and then I found it to be a windows application.

This is definitely not a bank , call it anything else !
T K,
Uppsala, Sweden,
Aug 13, 2013,

I tried some different brokers so far, Varengold is by far the best. Excellent customer service, live chat 24/7 very helpful and polite. Spreads are good, I trade Daily timeframe. There is some paperwork to be done to open an account, but I see that as a good thing, knowing its serious. Deposits - easy. Withdrawals I don't know yet. Alot of different stocks to trade, several hundred. 5 stars.
, Canada,
Jul 16, 2013,

I have been with Varengold for 6 months and they offer me good spreads and conditions and have an amazing selection besides forex (cfds and shares). customer service is excellent and personal.

on the flip side, sometimes their feed does have bad spikes but this was corrected swiftly when i contacted them, just be aware it happens once in a blue moon, also swap rates aren't the best but I'm a day trader so this doesn't affect me.
Melbourne, Australia,
Mar 2, 2013,

I've been with them for over a year and their clients service is well below average, execution is very slow and always get re-quote message !
Very disappointed and not satisfy overall.
There are too many better brokers where they value their clients.
I contacted them with above issues but they totally ignore my requests. Very Arogent German !!
Stay well away from them.
I also read very bad story about how they are affiliated with some dodgy traders( scammers) who actually hedge clients account against each other instead of being truthful and trade with transperancy.

Robert Lashan,
Haarlem, Netherlands,
Dec 18, 2012,

To testify to the below, I opened a second account recently with VG and was surprised to find out that it was opened almost instantly, considering that I had all documents ready (ID needs to be notarized). Combining this with the fact that VG is a bank and not just a typical brokerage makes for a good deal. So far I’m trading with them extensively for 2 years and I am overall very pleased.
London, United Kingdom,
Nov 22, 2012,

Very glad to read about the faster deposit method. I haven’t tried it out yet, but account opening was definitely not one of their advantages. Besides that execution is fine and I feel quite confident with a german bank ..been there almost two years, never had any significant problems. Cheers
Varengold WPH-Bank AG,
Hamburg, Germany,
Nov 12, 2012,

Dear Forexpeacearmy readers,

We would like to take this opportunity in formally introducing Varengold Bank’s presence in this online community, while trying to shed some light and offer assistance to any issues you may have.

As a bank institution in Germany we are obliged by law to go through various formalities regarding security and due diligence, which tend to slow down our account opening, deposit & withdrawal procedures compared to other more loosely regulated brokers. This is something we are aware of and have therefore launched a new quick online deposit and account opening procedure a few weeks ago, where you can receive you login data immediately after depositing and be ready to start trading right away.

We will try our best to unravel any issues that you may have experienced, so please feel free to post any comments you may have.

Yours sincerely,

The Varengold Bank Team
Forex Guru,
Hamburg, Germany,
Jul 18, 2012,

All traders, leads and IBs of Varengold!!!!!!!!!!!!!!!!!!! Take care!

Check e-Forex magazine of April! Site 142...

Varengold is doing B-Book leverage!!!!!

Guys, take care, you cannot earn money with them. They take your client position and leverage the other site on the interbank market. You don´t have a chance to win!

They are so stupid that the tell this every guy in the world! And they are so dump that they speak about it.

STP interbank market = a huge lie!
Farman akhtar,
Karachi, Pakistan,
Jun 26, 2012,

By providing wrong information, VG took 22k from me.
Please avoid this broker.