IC Markets vs Varengold Bank, 2023 Update

Compare IC Markets vs Varengold Bank

All online trading platforms feature a few ups and downs, and any comprehensive review of IC Markets and Varengold Bank cannnot be regarded as thorough without having a balanced approach.

Compare IC Markets and Varengold Bank to understand the way these platforms stack up with each other before you decide to open an account. A side-by-side comparison will put things in perspective in order that you remain informed about what you should anticipate.

So you are looking for a reputable broker and are choosing between IC Markets or Varengold Bank. Which one is best in 2023?

Our IC Markets vs Varengold Bank comparison contains the latest information so you can easily compare Varengold Bank against IC Markets.

If you're a new entrant in the realm of trading and brokerages, so many details will be perplexing for you. Getting into the area of trading requires expert analyzing skills and comprehensive knowledge. You'll get adept at all the concepts of brokerage since you keep trading. For starters, you need to select the right broker who will be clear with you always.

In this fast-paced universe of stock markets and trading, you will need guidance to make proper decisions. A professionally direct investment program has the potential to generate hefty returns. IC Markets and Varengold Bank are two such trading platforms that will take you along with your investment to great heights. It's crucial that you compare IC Markets vs Varengold Bank before you trust them with your money.

Our IC Markets vs Varengold Bank comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and Varengold Bank side by side.

Our entire IC Markets vs Varengold Bank Review covers all you will need to know about trading using either IC Markets or Varengold Bank. A good agent can multiply your initial investments and give you favorable profits. If you would like to earn profits, you must trade with a brokerage service that contrasts with your investing objectives.

There's absolutely no sure-fire way to guarantee profits; therefore, you should carefully analyze your broker before you choose them. It is a frequent misconception that all agents will be exactly the same, but that is not true. Wrong judgment, initially, can put your investments at risk.

IC Markets and Varengold Bank are both brokers which have found their way successfully to the broker world. In this review, we have tried to collate some of the vital aspects of both IC Markets and Varengold Bank. This review can allow you to know whether either Varengold Bank or IC Markets is a good fit for your investments or not. We have attempted to breakdown all the qualities and fees for your convenience.

Benefits of IC Markets and Varengold Bank Compared

IC Markets offers a minimum deposit of $200 while Varengold Bank offers a $250 minimum deposit.

Why smaller minimum deposits are good and how IC Markets and Varengold Bank compare

The main reason is that you should only deposit what you can afford. If you you have a lower budget, the broker that offers the lowest deposit option will be more attractive. The other reason is because when speculating on riskier but potentially more rewarding financial instruments you should look to speculate with only a small percentage of your allocated trading funds. Don't let a higher minimum deposit totally put you off a broker, look at the overall trading features you are getting from the trading platform. Often a high minimum deposit gives greater choice in the financial assets and trading platform research features.

IC Markets allows you to trade around 232 financial instruments whilst Varengold Bank allows you to trade around 232 available.

The more instruments you can trade on the IC Markets and Varengold Bank platforms the better. It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities and you should never want to miss out on a trading opportunity due to the limitations of IC Markets or Varengold Bank.

IC Markets and Varengold Bank Contact Details

Being able to contact an online trading platform through many ways is important. IC Markets and Varengold Bank have the following contact details and social medias that you can use.

Varengold Bank and IC Markets Mobile App Comparison

As more and more traders and investors use their smartphones for trading, it is increasingly important that brokers offer easy-to-use apps that can deliver the same services as desktop platforms.

In this part of our comparison of IC Markets and Varengold Bank we'll check whether either of their mobile apps tick all the boxes.

We rate overall the user-friendliness of the apps as Better than the average.

It is important that any trading app has user friendly capabilities especially with the

Search Functions

While most brokers are good at this, there are some poor ones. For example, if you start typing 'Emerging markets', will the software find all the Emerging markets ETFs for you, even if their name doesn't start with 'emerging'? If you have only traded US stocks, and you start typing 'Apple', will the software show you either the obscure Irish stock Applegreen or the Apple stock?

IC Markets vs Varengold Bank - Awards

IC Markets vs Varengold Bank - Frequently Asked Questions

IC Markets vs Varengold Bank - Headquarters And Year Of Founding

IC Markets was founded in 2007 and has its head office in Australia.

Varengold Bank was founded in 2008 and has its head office in Germany.

What is the minimum deposit for Varengold Bank or IC Markets

The minimum deposit for IC Markets is $200.

The minimum deposit for Varengold Bank is $250.

Depending on your circumstances, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both IC Markets and Varengold Bank are a good option.

IC Markets vs Varengold Bank - Regulation And Licencing In More Detail

IC Markets is regulated by Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC).

Varengold Bank is regulated by Unregulated.

Varengold Bank is unregulated but IC Markets has a strong set of rules for ensuring fair trading on its individual platforms. For information encryption functions, they supply industry-standard secure socket layer (SSL).

As per their privacy regulation, customer data is to not be shared with any other institutions or individuals. This includes credit history and other financial details.

Compare IC Markets vs Varengold Bank Commission And Fees

IC Markets and Varengold Bank are online broker platforms, and most online brokerages charge lower prices than traditional brokerages tend to bill. The reason for this is that the businesses of online brokerages are scaled much better. In other words, an online broker is not necessarily affected by the number of clients they have.

But this doesn't necessarily mean that online brokers don't charge any fees. They charge prices of varying rates for a variety of services to make money. There are mainly 3 different types of fees for this objective.

The first sort of charges to look out for are trading charges. Whenever you make an actual trade, like purchasing a stock or an ETF, you are billed trading fees. In these cases, you are paying a spread, financing speed, or even a commission. The kinds of trading fees and the rates differ from broker to broker.

Commissions can be fixed or determined by the traded quantity. On the flip side, a spread refers to the difference between the buying and selling cost. Financing or overnight rates are those that are billed when you maintain a leveraged position for more than daily.

Apart from trading fees, online agents also charge non-trading fees. These are determined by the actions you undertake on your account. They are billed for surgeries like depositing cash, not trading for lengthy periods, or withdrawals.

Generally, neither IC Markets or Varengold Bank charge high fees in comparison to other online agents. For operations other brokers charge for, they either do not charge a broker fee, or they charge a lesser sum. This is beneficial for people who often exchange, such as daily or weekly trading.

But, non-trading fees charged by IC Markets and Varengold Bank are relatively greater. As a result, you are billed more for non-trading activities in your trading accounts, such as deposits and withdrawal. These aren't related to the purchase and sale of assets.

This IC Markets vs Varengold Bank review for 2023 breaks down every one of the relevant non-trading charges for you in detail.

Compare Broker Fees For IC Markets And Varengold Bank

What Languages Do IC Markets And Varengold Bank Support?

Being able to chat completely with your trading platform is a key element when comparing online brokers to find the best trading partner. Not only for support but to ensure you completely understand everything on their site and inside their application as it is a key part of success when trading forex.

Here you will find the languages that both IC Markets and Varengold Bank support.

How Many Clients Do IC Markets and Varengold Bank Have?

Both IC Markets and Varengold Bank are well established with their client base. It is important to work with an online broker that is professional and one of the most simple ways of understanding this is by knowing how many customers they already work with.

Below you will find details of how many customers IC Markets and Varengold Bank are active on their platform

What Payment Methods Do IC Markets and Varengold Bank Accept?

IC Markets and Varengold Bank both offer a wide range of payment options which is vital when you have a global customer base.

Below you will find details of all the payment options available at IC Markets and Varengold Bank

What Can You Trade With IC Markets and Varengold Bank?

IC Markets offers 232 trading instruments whilst Varengold Bank offers 248.

Below you will find a full breakdown of what both IC Markets and Varengold Bank offer.