ruen

broker reviews
VARCHEVFINANCIAL

VARCHEVFINANCIAL
About company:

Varchev financial services is a Bulgarian company that offers Forex, Cryptocurrency, CFD, Indices, Gold, Silver, Oil and Gas, ETF and Binary Options trading.

 

Company. Fund security

The firm is regulated by the Bulgarian Financial Supervision Commission (FSC). The company can provide its services in the European Union thanks to the MiFID Directive. In addition, Varchev financial is registered with the FCA (number 494 045), which allows it to offer services in 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 case of bankruptcy of a company, but not more than 40,000 leva (about 20,000 euros). The FCA notes that the financial services compensation service can also refund customers if the firm fails.

 

Trading conditions

A single account type is available in Varchev financial, trading conditions differ depending on which instrument the trader will trade.

 

The broker also offers a free demo account with virtual $ 10,000 so that clients can test trading with the company.

 

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

 

Minimum initial deposit

Varchev financial does not set minimum deposit requirements. Therefore, clients have the right to choose how much they would like to start work with. At the same time, one should not forget that some online payment systems set minimum amounts for a transfer.

 

Spreads and commissions

For Forex trading, fixed spreads of 2 to 4 pips are offered, which is slightly above the industry average. The company does not charge any commissions or fees when trading Forex.

 

Leverage

Varchev financial provides a fairly high leverage, up to 1: 500. This is a great deal for many traders. The amount of leverage directly depends on the size of the down payment. The higher the deposit, the higher the leverage.

 

Trading platforms

Varchev financial has three trading platforms for traders to choose from: MetaTrader 4, MetaTrader 5 and XStation XTB. The latter is named Varchev Absolute Trader (VAT). For all terminals, you can download apps for Android and Apple devices.

 

The xStation platform was named "Best Trading Platform 2016" by the Online Personal Wealth Awards. The terminal offers fast order execution, technical, analytical and charting tools, social trading and many other options.

 

MetaTrader 4 is the most popular platform used by over 90% of traders. MetaTrader5 is its successor.

 

Training

Varchev Finance provides free training for traders: educational articles and free webinars. However, most of the information is only available in English. Clients can view the archive of past webinars on the website.

 

Bonuses

There are several bonus offers at once:

 

"Account" is charged when you open a new account. If a trader deposits more than $ 3,000, he receives a $ 250 bonus; if the trader deposits more than $ 10,000, he receives $ 1,000.

 

"CashBack" - the broker returns up to $ 500 from the loss of each client in the first day of trading.

 

"Friend" - a trader receives $ 100 for each new client brought to the company.

 

Support service

Varchev Finance has offices in London, Varna, Burgas and Sofia. Support can be contacted by phone, live chat and using the feedback form. The company has accounts on social networks: Facebook, Twitter, Google+, Youtube - where you can also follow the news.

 

The site has been translated into Russian, Bulgarian, English and Turkish.

 

Ways of payment

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

 

Withdrawal of funds is carried out in the same way as the deposit was made.

 

Pros:

 

regulated broker; MT4; bonuses; high shoulder.

 

Minuses:

 

there are no teaching materials in Russian.

 

 

VARCHEVFINANCIAL is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.

In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.

The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.

What is the benefit of a broker?  

 

The broker VARCHEVFINANCIAL makes profit from traders' transactions, as a rule, in two main ways.

The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.

The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.

Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.

 

Ways to cheat customers  

 

We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.

The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.

Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.

In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.

 

Where are brokerage companies registered?

 

One of the key points is the place of registration and regulation of the company's activities.

Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.

However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.

If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.

But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.

And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization,   considering disputes between its members - brokers and their clients.

If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.

 

What else to pay attention to?

 

When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.

It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.

Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.

Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.

Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.

FAQ - broker questions

  • 1. Do the trader reviews impact on a rating of VARCHEVFINANCIAL ?

    Any feedback can raise or lower the rating company. To read reviews, go into the rating and select your broker.

  • 2. How to leave a comment about VARCHEVFINANCIAL on the website 4ex.review ?

    In order to leave a review about the broker, go down page, enter a valid email and Your review with an overall score. Reviews are moderated and tracked by the number of comments from the same IP or email. Tech support may request the actual documents that prove that the user was or is a customer of the broker. This rule applies to negative and positive reviews. We want our portal to be honest and independent.

  • 3. Can we assume the broker VARCHEVFINANCIAL decent?

    Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. VARCHEVFINANCIAL received a score of 1 of 5 on our resource.

Rating of brokers

Discussed brokers

Last comments

You might also be interested in:

independent broker reviews VARCHEVFINANCIAL