Varengold Bank
 | |
| Public company (Aktiengesellschaft) | |
| Traded as | FWB: VG8 |
| Industry |
Finance Investment banks Brokerage |
| Founded | 1995 |
| Headquarters | Hamburg, Germany |
Key people |
Yasin Sebastian Qureshi (Chief Executive Officer) |
Number of employees | 60 (July 2013) |
| Website | www.varengoldbankfx.com |
Varengold Bank AG is a German investment bank headquartered in Hamburg. The company provides online trading, brokerage, asset management and commercial banking services.
Its VarengoldbankFX brokerage allows trading in Forex and CFD's on its trading platform using electronic execution using a straight-through processing model.
Varengold bank is a member of the Bundesverband, a lobby association for alternative investments in Germany [1]
History
Varengold was founded in 1995 by Yasin Sebastian Qureshi and Steffen Fix amongst others. Since foundation of the company main business operations is derivative brokerage as well as Alternative Investments products and services.
In 1998 Varengold obtained the licence for financial institutions by the Bundesaufsichtsamt für das Kreditwesen (BAKred), the German financial regulator at that time. In 2003 Varengold became registered as an investment bank by the Federal Financial Supervisory Authority (BaFin) and in 2013 it obtained a commercial banking license.
Varengold bank is a member of the Entschädigungseinrichtung deutscher Banken (EdB), a private institution legally responsible for guaranteeing the deposits of account holders of German banks.
Products
Products of Varengold investment bank address institutional investors, asset managers as well as financially independent private individuals.
VarengoldbankFX brokerage provides trading in Forex and Contract for differences.