Varengold Bank

Type	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.varengold.de 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.^[2]

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.

References