At the beginning of its existence has become a pioneer in the online trading currency pairs and CFD on the German market. This is the brokerskou company type STP. Since this is a German broker, also in Germany is subject to the regulation of. About the security of their finances with this company certainly you don't have to worry about.
I've opened an account 6 months ago with Varengolbankfx and I'm satisfied. I've seen good execution and I can do scalping. Withdrawals are fast and I've no cost for deposits cause they are in European Union.
No problems for me. With all the trades they put me in at 2 point worse off on both sides of the trade. They have an online chat which i spoke to one of the staff and they started feeding me rubbish and saying we are in a financial crisis.
So then they wanted my details of which made me more concerned so i did not bother, as i know what they do. So will close my account, But thought i should let people know. Varengold have the biggest spreads in the forex world. I trade the euraud among others and have seen the spreads go out to 30pts and stay there for most of the run.
All the pairs seem to have a widening spread all in there favour. We can put in a stop loss and it never fills at that price.. They take pts extra on the buy price and on the sell price.. I cant understand why a company would be that bad knowing the word will spread quickly..
Find a better broker than these guys!! I started trading with this bank when they started offering forex in I dont understand why people are complaining about slippage and spreads. I have never received a requote or reject ever from them during any market conditions.
They are not perfect, but at least my money is safe with them and I can trade without any problems. I did notice the spreads are higher then normal, but it was explained to me that it was because of the current economic crisis and they said these spreads will go down to pre crisis spreads when things get back to normal. I currently trade on their Metatrader platform, but I hear they just launched an institutional platform that the spreads are tighter and its an ECN type of platform, but the minimum is K USD.
But, I like the charts on the metatrader platform and Im happy with them so far and would recommend. I trade on their MT 4 platform with my EA. I have been making money, I understand their platform is linked their institutional platform Varengold Fox Professional, which is an ECN platform.
I get no requotes and fast execution during all times. I like that they are a bank. Your money is safe and they play by the rules. Execution has been vastly improved, but on rare occasions slows down. Some slippage, average customer service but their reps will gladly be available via skype should there be an emergency. Spreads are frequently HUGE so scalpers should look elsewhere. Overall a decent experience but I ultimately left them due to the large spreads. I trade with them for 3 month now.
I like their execution. It's fast and reliable, much better than with other brokers. I trade via EA my own strategy. Never had problems, sometimes I come into the market better than requested.
This is new, no other broker had that before, i. I belief them saying they are STP. But honestly, most of the time I'm on the right side making money with my trading strategy, so I don't really care about spreads. I feel my money is save because it's a bank. Review Moderation Team Note: This review was left from inside the offices of VarenGoldBank. The FPA does not appreciate review spammers. I m loving trade with VG, they have nice support, so fast!!!
The process to open an account is not fast, but not slow They are bank, no words I do not get this with other brokers. When I opened an account with them I was promised a 1 pip spread but when the money was put into the account and software sorted out the 3 pip and more spread was in place. Very slow response,reply not to point. Varen Gold "logo was in fx-root's web site. When checked with Varengold,They wrote to me,saying no link since their contract did not lost long!!??
As a bank They should refine the organising to keep their credentials. All traders, leads and IBs of Varengold!!!!!!!!!!!!!!!!!!! Check e-Forex magazine of April! 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. They are so stupid that the tell this every guy in the world!
And they are so dump that they speak about it. 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.
Very glad to read about the faster deposit method. Besides that execution is fine and I feel quite confident with a german bank.. 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. 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. 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. 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.
I tried some different brokers so far, Varengold is by far the best. 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. Withdrawals I don't know yet. Alot of different stocks to trade, several hundred.
One of the worst brokers I've ever worked with, every thing just sucks - Very high spreads. This is definitely not a bank , call it anything else! Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Currency trading on margin involves high risk, and is not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Online would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs stocks, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes.
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