Varchev Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $200
- MetaTrader4
- MetaTrader5
- Varchev Absolute Trader
- FSC
- 2007
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $200
- MetaTrader4
- MetaTrader5
- Varchev Absolute Trader
- FSC
- 2007
Our Evaluation of Varchev
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Varchev is a broker with higher-than-average risk and the TU Overall Score of 4.83 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Varchev clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Varchev is a broker for professional market players and traders with experience. Trading conditions of Varchev for professional and non-professional clients differ.
Brief Look at Varchev
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).
- 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.
TU Expert Advice
Financial expert and analyst at Traders Union
Varchev (varchev.com) is a broker for active, professional market players. The history of the brokerage company began 29 years ago, and in this time Varchev expanded the choice of trading instruments and continues to work to improve trading conditions. The company has a proprietary trading platform, a section with useful information and educational materials on its website, a mobile application and a short video tutorial on trading from the company’s founder.
The broker focuses on working with the traders who know what they want from trading. During registration, the broker asks the clients to provide their requirements, their trading activity and experience in working with different Forex and stock market instruments. For these clients, the broker offers professional accounts with preferences, such as no minimum deposit requirement and participation in bonus programs. For traders with less trading experience, Varchev offers accounts for non-professionals. They have a lower leverage and higher minimum deposit.
Trading conditions on Varchev can be considered suitable for inexperienced users, however, it should be taken into account that the broker does not provide basic information on trading different instruments and does not provide education for the beginners. There are also not many ways to contact customer support, while in order to open an account a trader must provide scanned copies of documents and pass verification.
Varchev Summary
| 💻 Trading platform: | MetaTrader 4, MetaTrader 5, Varchev Absolute Trader |
|---|---|
| 📊 Accounts: | Real Account, Demo Account, Cent Accounts |
| 💰 Account currency: | USD, EUR, GBP, BGN |
| 💵 Replenishment / Withdrawal: | Debit/credit cards (Visa, MasterCard, Maestro), Wire Transfer (Raiffeisen, UniCredit, UBB, Fibank), electronic payment systems PayPal, ePay.bg, Skrill, Neteller, Ucash, GiroPay, Itau, Bitcoin |
| 🚀 Minimum deposit: | USD, EUR, GBP 200 or BGN 400 |
| ⚖️ Leverage: | Up to 1:500 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | Floating |
| 🔧 Instruments: | Currency pairs, cryptocurrency, stocks, indices, IPO, CFD, ETF, precious metals, commodities |
| 💹 Margin Call / Stop Out: | No data |
| 🏛 Liquidity provider: | No data |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market execution |
| ⭐ Trading features: | Leverage depends on the level of trader’s expertise and also size of the deposit and trading volumes |
| 🎁 Contests and bonuses: | Yes |
Varchev clients have access to over 50,000 trading instruments, including currency pairs, indices, stocks, cryptocurrency and others. The trading is carried out on the customary MT4 platform, updated MT5 platform or the broker’s proprietary platform. Mobile trading is available for all platforms as well. There is no minimum deposit for professional clients of the broker. For non-professionals, the broker sets the minimum deposit at EUR, USD, GBP 200. The leverage of 1:500 is available only to professionals, while for other users the maximum leverage ranges from 1:10 to 1:30 depending on the instruments. Also cent accounts and demo accounts for testing trading conditions and risk-free practice are available on varchev.com.
Varchev Key Parameters Evaluation
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Trading Account Opening
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:
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Financial information – deposit and withdrawal transactions.
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Trading information – trading transaction history and software center.
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Educational and analytical tab – market basics and analytical forecasts.
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Customer support tab – contacts for contacting the broker’s representatives.
Regulation and Safety
The broker’s reliability is determined by the availability of regulatory authorities and licenses. Also, the broker is registered with the FSC (Financial Supervision Commission) with the license number RG-03-02-05 (15.03.2006). Varchev complies with the provisions of The Markets in Financial Instruments Directive (MiFID), which also speaks for the company’s reliability.
Client funds of varchev.com are held separately from the broker’s funds. Separate accounts in such banks as Barclays, Unicredit, Citi Bank, IG Markets are used for holding client funds, and also holding the funds with liquidity providers and prime brokers is admissible. Additional protection of the capital is ensured by the broker’s partnership with the ICF (Investor Compensation Fund).
The fund ensures compensation for the investors, in case varchev.com is no longer solvent and cannot fulfill its obligations to the clients. Also, Varchev uses automated systems for protection of accounts against negative balance. The broker thus warns traders about possible losses.
Advantages
- The broker’s operation is regulated by FSC
- The funds of the clients are held in segregated accounts
- The broker works with the Investor Compensation Fund
- The company offers negative balance protection
Disadvantages
- No information about protection of personal data of the clients
Commissions & Fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Real Account | From 1$ | May be charged by payment systems |
| Cent Account | From 1$ | May be charged by payment systems |
The broker charges a fixed commission (swap) for position rollover to the following day.
In order to impartially evaluate the trading conditions of Varchev, TU analysts compared the broker with its competitors — FxPro and RoboForex. As a result of the comparison each company was assigned low, average or high level of commissions You can see the results in the table below:
| Broker | Average commission | Level |
|---|---|---|
|
$10 | |
|
$1 | |
|
$8.5 |
Account Types
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:
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.
Deposit and Withdrawal
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Varchev offers the following methods for deposit and withdrawals: credit/debit cards Visa, MasterCard and Maestro; wire transfers via Raiffeisen, UniCredit, UBB, Fibank; electronic payment systems PayPal, ePay.bg, Skrill, Neteller, Ucash, GiroPay, Itau, Bitcoin. Transfer between the trading accounts is also possible.
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In order to withdraw funds, a trader needs to fill out a withdrawal request and send it to the broker’s office by fax or email.
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The processing time depends on the method of transactions: as a rule transfers through electronic payment systems are processed instantly, via Bitcoin – within several houses, while wire transfers take 2-5 working days. Transactions with bank cards are usually processed within one working day.
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Varchev does not charge a deposit or withdrawal fee. However, the company specifies that the payment system may charge a fee, which the trader must pay.
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During account opening, the broker asks to provide documents for verification, which is mandatory. A trader will be able to perform financial transactions only after verification.
Investment Programs, Available Markets and Products of the Broker
Varchev is largely targeted at working with professional traders and also those with at least a small trading experience in the Forex market. The broker provides comfortable conditions for independent trading, while the copy trading services and other methods of earning passive income are not available on varchev.com.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Varchev’s affiliate program:
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Introducing Broker (IB). A financial company can become a partner of Varchev. The clients of the company will receive access to trading and the partner will not be required to address organizational and technical issues. At that, the partner will earn income from its clients’ trading.
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White Label. This program allows the companies to not only provide its clients access to trading benefits of varchev.com, but the companies can use the instruments of Varchev, using their own logo. This method allows Varchev to expand in the market, and the partner – to receive a bonus for acting as an intermediary.
The payments for participation in the partnership programs are calculated individually for every client. For more detailed information, potential partners can contact varchev.com by phone or email.
Customer Support
A trader can contact Varchev’s customer support to resolve technical issues, place orders via a deal and settle other issues.
Advantages
- Several methods of contacting the company’s employees
- A possibility to visit a real office of the broker in order to resolve issues
Disadvantages
- 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:
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Phone call to one of the specified contact numbers;
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A feedback form;
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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
|
Education
Varchev is not focused on working with novice traders without experience, and therefore, basic information on Forex trading is not featured on its website. However, the company is interested in fostering development of its clients, and therefore there is a section with free educational materials to help traders improve their skills featured on the website.
The broker provides its clients with an opportunity to test their trading skills on a demo account; also cent accounts are available.
Comparison of Varchev with other Brokers
| Varchev | RoboForex | Pocket Option | Exness | FxPro | FreshForex | |
| Trading platform |
MetaTrader4, MetaTrader5, Varchev Absolute Trader | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MobileTrading, MT5, cTrader, FxPro Edge | MT4, MobileTrading |
| Min deposit | $200 | $10 | $5 | $10 | $100 | No |
| Leverage |
From 1:1 to 1:500 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:2000 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0.1 points | From 0 points | From 1.2 point | From 1 point | From 0 points | From 0 points |
| Level of margin call / stop out |
1% / 1% | 60% / 40% | 30% / 50% | No / 60% | 25% / 20% | 40% / 20% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution |
| No deposit bonus | No | No | No | No | No | $30 |
| Cent accounts | No | Yes | No | No | No | Yes |
Detailed Review of Varchev
Working with Varchev means reliability, quality service and optimal trading conditions for active trading and investing. The broker primarily works with experienced traders and provides conditions for further development – free educational materials, market reviews by professionals, fundamental and technical market analysis, 24h access to news. The company offers two account types – real and cent. The clients can also open a demo account first to discover the features of Varchev’s proprietary platform, review the broker’s trading conditions and test their own trading skills.
Varchev.com in figures:
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0.03 seconds – the average order execution speed.
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Minimum deposit is from $0, if a trader is opening a professional account.
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Varchev has been providing financial services for 29 years.
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The broker offers access to over 50,000 trading instruments.
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Upon opening a demo account a trader receives 100,000 virtual dollars on their account.
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Traders have three free trading platforms to choose from.
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Spreads start from 0.1 pips.
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Zero commission for account maintenance and non-trading actions.
Varchev is a broker for professional trading
Varchev is a broker for active traders with experience in trading various instruments. The broker provides optimal trading conditions for traders with different trading strategies and styles, offers low spreads and optimal level of commission for order execution. The execution speed on the platforms is rather high, which allows you to use the scalping strategy. The broker is also prepared to work with active investors; varchev.com offers its clients a multitude of trading instruments regardless of whether they are professional clients or not. However, it should be taken into account that the company does not offer passive income programs, while bonus programs are only available to the professional traders.
varchev.com clients can choose from three trading platforms: MetaTrader 4, MetaTrader 5 and Varchev Absolute Trader, the broker’s proprietary platform. Trading on MT4 and MT5 requires installation of additional software on your PC, which can be downloaded in the Platforms section on the broker’s website. Varchev Absolute Trader is a web platform – to use it a trader will only need internet access. All three platforms are available for mobile trading; all a trader needs to do is install an app to their smartphone.
Useful services by varchev.com:
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Varchev’s Blog. In this section, Biser Varchev, the founder of the brokerage company and professional trader, shares useful information for traders, conducts weekly market analyses, and holds seminars.
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News. The home page of the broker’s website features the latest financial markets news; the information is regularly updated.
Advantages:
The company offers bonus programs.
Demo account is available to traders for free.
Varchev offers a wide choice of trading instruments.
The level of trading and non-trading commissions is lower than in the market.
Traders can choose a convenient deposit and withdrawal method.
The broker’s website features free educational materials.
varchev.com clients can trade from mobile devices.
If necessary, a trader can visit the real office of the company to open an account or resolve other issues.
All trading platforms are available to traders regardless of whether they chose a professional or non-professional account type.
User Satisfaction