Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
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Varchev Pros & Cons
- The commissions charged by Varchev are lower than the average commissions in the market.
- The broker offers a wide choice of trading instruments.
- There is a section with free educational materials on the company’s website.
- varchev.com offers negative balance protection.
- Clients can visit the broker’s offline office in London.
- Varchev offers different deposit and withdrawal methods, including wire transfers and electronic payment systems.
- Trading from mobile devices is available.
- Bonus programs are available only to professional clients of varchev.com.
- Limited number of methods for contacting customer support.
- The broker does not offer investment programs for earning passive income.
Varchev is an international broker that has been providing financial services in the market for 29 years. The company was established by Biser Varchev. The broker provides access to Forex instruments, indices, stocks, commodities, exchange funds and other financial instruments. The company is regulated by Bulgarian FSC (Financial Supervision Commission, RG-03-02-05/15.03.2006). The operation of Varchev meets the requirements of the European directive MiFID, and the broker also works with the ICF (Investor Compensation Fund).
TU Expert Verdict
Varchev carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.
Top-5 Brokers Traders Prefer
Varchev User Reviews
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5-star
15%
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4-star
40%
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3-star
15%
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2-star
10%
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1-star
20%
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria8 /10The trading and non-trading commissions of Varchev have been analyzed and rated as having Low fees, with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Varchev with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Varchev’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Varchev Standard spreads Varchev OANDA FOREX.com EUR/USD min, pips 0.4 0.1 0.7 EUR/USD max, pips 0.6 0.5 1.2 GPB/USD min, pips 0.5 0.1 0.9 GPB/USD max, pips 1.1 0.5 1.4 RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
Varchev RAW/ECN spreads Varchev OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 3 3.5 5 EUR/USD avg spread 0.1 0.15 0.2 GBP/USD avg spread 0.15 0.2 0.4 Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Varchev. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Varchev Non-Trading Fees Varchev OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is Varchev Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria6.8 /10Varchev has a safety score of 6.8/10, which corresponds to a Medium security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Negative balance protection
- Track record over 19 years
- Not tier-1 regulated
Varchev Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level Abbreviation FSC (Bulgaria) Full Name Financial Supervision Commission Country of regulation Bulgaria Investor Protection Fund Up to €20,000 Regulation Level Tier-2 Varchev Security Factors Foundation date 2007 Negative balance protection YesVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.5.7 /10Varchev offers the following account options: Demo, Standard, ECN/Raw spread, Cent.
Varchev covers the core account types, making it convenient for traders with different preferences and strategies.
- Cent account for beginners
- Low minimum deposit
- Standard account with balanced trading conditions
- No VIP account option
- Micro lots are not available
Varchev account types vs top competitors Varchev Trading.com Plus500 Standard YesYesYesECN/Raw spread YesNoNoDemo YesYesYesCent YesNoNoMicro NoNoNoSwap Free NoNoNoVIP NoNoNoManaged NoNoNoVarchev accounts trading conditions
Varchev is an international broker, therefore traders from different countries can open an account with the company. During opening of a trading account, the broker asks whether you are a resident of Belgium or the USA. There are only two account types.
Account types:
Account Type Description Real Account This is an account for trading in real market conditions. When you are opening an account, you need to specify whether you’d like to be a professional client, as the trading conditions for the professionals are different. Specifically, the leverage on a professional account is up to 1:500, while for non-professional accounts the maximum leverage is up to 1:30. Also, there is no minimum deposit requirement for professionals, while non-professional traders will need to deposit a minimum of USD/EUR/GBP 200 or BGN 400. Cent Account You can also open a cent account at Varchev and trade minimum amounts. On a regular account, the deposit amount is shown in dollars or another chosen currency, and on a cent account – in cents. Therefore, a $200 deposit turns into 20,000 cents. Also, the broker’s clients can exercise trading and test broker’s conditions using a virtual account. The demo account is opened for free in just 2 minutes with virtual 100,000 dollars deposited for the trader.
Varchev is a broker for experienced traders and those who value quality service, quick execution and minimum distraction.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology7 /10Varchev received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
Varchev provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- No withdrawal fee
- Bitcoin (BTC) accepted
- PayPal supported
- Bank card deposits and withdrawals
- Limited deposit and withdrawal flexibility, leading to higher costs
- BTC not available as a base account currency
- High minimum withdrawal requirement
What are Varchev deposit and withdrawal options?
Varchev provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, PayPal, Skrill, Neteller, BTC.
Varchev Deposit and Withdrawal Methods vs Competitors Varchev Trading.com Plus500 Bank Wire YesYesYesBank card YesYesYesPayPal YesNoYesWise NoNoNoBTC YesNoNoWhat are Varchev base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. Varchev supports the following base account currencies: USD, EUR, GBP.
What are Varchev's minimum deposit and withdrawal amounts?
The minimum deposit on Varchev is $200, while the minimum withdrawal amount is $200. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Varchev’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria7.8 /10Varchev offers a wider selection of trading assets than the market average, with over 50000 tradable assets available, including 40 currency pairs.
- Indices trading
- Crypto trading
- ETFs investing
- Copy trading not available
- Futures not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by Varchev with its competitors, making it easier for you to find the perfect fit.
Varchev Trading.com Plus500 Currency pairs 40 69 60 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 50000 69 2800 Stocks YesNoYesCommodity futures YesNoYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesNoYesStock indices YesNoYesOptions NoNoYesInvestment options
We also explored the trading assets and products Varchev offers for beginner traders and investors who prefer not to engage in active trading.
Varchev Trading.com Plus500 Bonds YesNoNoETFs YesNoYesCopy trading NoNoNoPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at Varchev by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.9 /10We successfully registered an account with Varchev in 10 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at Varchev is $200. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fast registration time (up to 15 minutes)
- Low minimum deposit requirement
- Fully online account opening process
- Account approval may require extra time depending on the documentation.
Varchev account opening Varchev Trading.com Plus500 Online Registration YesYesYesMinimum deposit $200 $50 $100 Mandatory KYC YesYesYesRegistration time (min) 10 20 KYC time (days) 2 2 3 Is Varchev available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
You can start trading with Varchev only after you open a trading account with the broker. In order to become a broker’s client, follow the step-by-step guide below:
Access the official website of Varchev. On the Home page, on the right side of the screen, you will see two buttons – Open Demo Account (the red one) and Open Real Account (the green one).
If you are opening a real account, you will need to provide your First Name, Last Name, full Address, Date and Place of Birth.
Next provide information on your citizenship, specify your Tax Identification Number and jurisdiction of your tax residence.
Next, choose which of the provided statements correspond to the description of your trading activity.
Specify whether you have experience in trading such instruments as Forex, futures, stocks, CFDs or other assets in the Forex and stock markets.
Then, specify whether you have experience of working at financial institutions, choose the level of financial education that is most suitable for you. Accept the risks that trading of different assets carries.
Fill out your contact information (email and phone number), so that the broker could contact you, if necessary. Select your trading platform, base currency, leverage. Specify whether you want to be in the “professional client” category.
Write where you learned about Varchev. Upload scanned copies of ID documents.
Review legal documents and then confirm your application for account opening.
After registration on the Varchev website, a client will receive access to the following in their Personal Account:
- Financial information – deposit and withdrawal transactions.
- Trading information – trading transaction history and software center.
- Educational and analytical tab – market basics and analytical forecasts.
- Customer support tab – contacts for contacting the broker’s representatives.
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Customer Support
Score:We evaluated Customer Support at Varchev by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria4.6 /10The broker’s customer support shows noticeable weaknesses in responsiveness or communication quality. Delays in replies are common, and resolution may require repeated contact.
In TU testing, response speed was below expectations, and assistance was limited in depth. Traders who rely heavily on support may experience inconvenience.
InformationA trader can contact Varchev’s customer support to resolve technical issues, place orders via a deal and settle other issues.
- Several methods of contacting the company’s employees
- A possibility to visit a real office of the broker in order to resolve issues
- The broker does not specify the operating hours of customer support
- The website does not have FAQ
In order to contact Varchev, traders can use the following methods:
- Phone call to one of the specified contact numbers;
- A feedback form;
- A visit to an offline office of the broker in London.
A live chat with a dealer is available after you open a real trading account.
Contacts Foundation date 2007 Registration address Level 33, office 50, 25 Canada Square, London E14 5LQ, UK Regulation FSC Official site varchev.com Contacts +44 20 8144 1497
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FAQs
How is Varchev regulated and what safety measures does it offer?
Varchev is regulated by the Financial Supervision Commission (FSC) in Bulgaria, which is classified as Tier-2 regulation, and it has a safety score of 6.8/10, corresponding to a medium security level. The broker provides negative balance protection, requires KYC verification, and participates in an investor protection fund that covers up to €20,000, while not being regulated by a Tier-1 authority.
What trading and non-trading fees can traders expect with Varchev?
Varchev’s overall fee level is rated as low, with a fees score of 8/10, and it offers tight spreads on major pairs such as EUR/USD (approximately 0.4–0.6 pips on Standard accounts and about 0.1 pips average on RAW/ECN accounts with a $3 per lot commission). According to the review, there are no inactivity, deposit, or withdrawal fees, but spreads may widen during periods of high market volatility.
What do Varchev user reviews and feedback indicate about overall satisfaction levels?
Varchev has a user satisfaction score of 6.4/10 based on 20 reviews, with a mixed distribution of ratings: 55% positive (4–5 stars), 15% neutral (3 stars), and 30% negative (1–2 stars). According to user reviews, this suggests a varied experience where some clients report satisfaction while others express concerns or dissatisfaction.
How does the Varchev account opening process work and how long does it take?
The account opening process at Varchev is fully online, with registration typically taking about 10 minutes and KYC verification completed in around 2 business days, after which trading can begin. The minimum deposit is $200, and applicants are asked for personal details, tax information, trading experience, financial background, document uploads, and platform and account settings before gaining access to their personal account area.
What do reviews and comments say about Varchev’s customer support options?
The customer support section notes a relatively low safety score of 4.6/10, highlighting delays in responses and limited depth of assistance, which may require repeated contact. While traders can reach Varchev via phone, feedback form, visiting a London office, or live chat after opening a real account, the broker does not specify support operating hours and its website does not provide an FAQ section.
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