Varchev Financial পর্যালোচনা

On-line since: 1992
Country of origin: Bulgaria
Regulation: FSC (Bulgaria), FCA
Payment options: bank wire, credit cards, electronic payment systems
Minimum account size: $0
Minimum lot size: 0.01 lot
Leverage: up to 1:500
Spreads: variable, from 0 pip

About the company:

Varchev Financial Services is a Bulgarian company which offers Forex trading as well as trading cryptocurrency, CFDs, indices, gold, silver, oil and gas, ETF, and binary options.

Company. Security of funds

The company is regulated by the Bulgarian Financial Supervisory Commission (FSC). Varchev Finance is able to provide its services in the European Union through the MiFID Directive. In addition, it is registered by the FCA (number 494 045), which allows the company to provide services on the territory of the United Kingdom of Great Britain.

Varchev Finance is a member of the Bulgarian Investor Compensation Fund, which covers up to 90% of the total amount in the event of the company’s bankruptcy, but no more than 40,000 levs (about 20,000 euros). The FCA notes that the FSC can also return customers’ money if the company fails.

Trading conditions

In Varchev Finance, a single account type is available, and trading conditions differ depending on an instrument chosen by a trader.

In addition, the broker offers a free demo account with virtual $10,000, so that customers can test trading with the company.

The company’s work follows the NDD technology (No Dealing Desk), which reduces the risk of conflicts between the broker and traders.

Minimum initial deposit

Varchev Finance does not impose any requirements on the minimum deposit. Therefore, customers have the right to choose what amount they would like to start working with. In doing so, we have to remember that some online payment systems establish minimum amounts for transfers.

Spreads and commissions

Fixed spreads from 2 to 4 pips, which are slightly higher than the average for the industry, are available for forex trading. The company does not charge commissions and fees for trading on Forex.

Leverage

Varchev Finance gives quite a high level of leverage, up to 1:500. This is an advantageous offer for many traders. The leverage depends directly on the amount of the initial deposit. The higher the deposit is, the higher the leverage is.

Trading platforms

In Varchev Finance, a trader can choose one of three trading platforms: MetaTrader 4, MetaTrader5, and XStation XTB. The latter is named Varchev Absolute Trader (VAT). The applications of all platforms can be downloaded for the Android and Apple devices.

The xStation platform was recognized as the Best Trading Platform 2016 by the Online Personal Wealth Awards. The platform offers instant execution of orders; technical, analytical, and graphic tools; social commerce; and a lot of other options.

MetaTrader4 is the most popular platform, which is used by over 90% of traders. MetaTrader5 is its successor.

Training

Varchev Finance conducts free training for traders, offering educational articles and free webinars. But most of the information is available only in English. Customers can view the archive of past webinars on the site.

Bonuses

There are several bonus offers:

"Account" is credited when a new account is opened. If a trader deposits over $3,000, he gets a bonus of $250; if a trader deposits more than $10,000, he gets $1,000.

"CashBack" implies that the broker returns up to $500 from the loss of each customer on the first day of trading.

According to "Friend", a trader receives $100 for each new client invited to the company.

Support service

Varchev Finance has offices in London, Varna, Burgas, and Sofia. The support service is available by phone, live chat, and a feedback form. The company has the following social media accounts: Facebook, Twitter, Google+, and Youtube where you can also follow the news.

The site is translated into Russian, Bulgarian, English, and Turkish.

Payment methods

Varchev Brokers accepts customer deposits through bank transfers, credit and debit cards, as well as through online payment systems such as Neteller, Skrill, uKash, giropay, itau, Bulgarian online payment system, ePay, and PayPal. The company also accepts Bitcoin.

The withdrawal of funds is carried out in the same way that the deposit has been made.

Advantages:

• regulated broker;
• MT4;
• bonuses;
• high level of leverage.