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Varengold Bank FX Review
Varengold Bank FX is a German BaFin regulated broker. Its parent bank paid a 3.3 million euro fine in 2025 after BaFin found serious money laundering gaps.
Min Deposit
$2
Spreads From
Around 1 pip on EUR/USD, based on independent broker reviews
Max Leverage
1:200
Platforms
MetaTrader 4, MetaTrader 5
Pros
- Genuine German bank, BaFin regulated under number 109520 since 2013
- Deposit protection up to 100,000 euros under Germany's bank scheme
- STP execution on MetaTrader 4 and MetaTrader 5 for forex and CFDs
- BaFin's special supervisory measures were lifted at the end of October 2025
Cons
- BaFin fined the bank 3.3 million euros in 2025 for AML control failures
- The bank breached a BaFin ban on Iran linked payments not once but twice
- A further 500,000 euro coercive fine followed the repeated breach
- Standard FX account needs a relatively high 2,000 dollar deposit
Varengold Bank AG started in Hamburg in 1995, founded by former derivatives traders led by Yasin Sebastian Qureshi, and later became a fully licensed bank under BaFin, register number 109520. Its FX division offers retail forex and CFD trading built on that banking base, unusual among online brokers.
Traders use MetaTrader 4 or MetaTrader 5 with STP execution and leverage up to 1:200. A standard account needs a 2,000 dollar deposit, while the Premium tier asks for more than 25,000 euros. As a real bank, client cash also carries deposit protection up to 100,000 euros under Germany's scheme, on top of normal fund segregation.
BaFin found serious money laundering gaps during a 2022 special exam and later audits, mainly around Iran linked payments. It banned such payments in June 2023, then fined the bank 500,000 euros more after catching two breaches of that ban. The main 3.3 million euro fine became final in September 2025, and supervisory measures were lifted that October.
Min. Deposit
USD 2
Max Leverage
1:200
Spreads From
Around 1 pip on EUR/USD, based on independent broker reviews
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
