Varchev offers 24/5 commission-free trading on Forex and ETFs and up to 1:100 leverage on Gold and Silver. It reimburses traders up to $500 on their first day losses. The minimum deposit is 400 BGN, and non-professional clients get a maximum leverage of 1:30.
Varchev; Introduction and Regulatory Status
Varchev, based in Bulgaria, was founded in 1992 by Biser Varchev. The company was previously regulated by the UK FCA until 2021 and the Brexit. Currently, it holds a license from the Financial Supervision Commission (FSC) - Sofia, Bulgaria (License number RG-03-02-05 / 15.03.2006). Key features of Varchev:
- Regulated by the Bulgarian Financial Supervisory Commission (FSC);
- Compliant with MiFID regulations;
- Leverage up to 1:500;
- $200 minimum deposit;
- Extensive news feed and educational resources.
Varchev Broker Specification
The company offers a comprehensive suite of trading services, catering to novice and experienced traders, including:
Broker | Varchev |
Account Types | Real |
Regulating Authorities | FSC |
Based Currencies | USD, EUR, GBP, BGN |
Minimum Deposit | $200 |
Deposit Methods | Credit/Debit Card, Wire Transfer, PayPal, ePay.bg, Skrill, Neteller, Bitcoin, Giropay, uKash, Itau |
Withdrawal Methods | Credit/Debit Card, Wire Transfer, PayPal, ePay.bg, Skrill, Neteller, Bitcoin, Giropay, uKash, Itau |
Minimum Order | 0.01 lots |
Maximum Leverage | 1:500 |
Investment Options | IPO, Investment Consulting, Social Trading |
Trading Platforms & Apps | MT4, MT5, VAT |
Markets | Forex, Crypto, Stocks, Indices, IPO, CFDs, ETFs, Metals, Commodities |
Spread | Market spread |
Commission | Variable based on the instrument and platform |
Orders Execution | Market |
Margin Call / Stop Out | N/A |
Trading Features | Economic Calendar, Market Analysis |
Affiliate Program | Yes |
Bonus & Promotions | New Account, Cashback, IB |
Islamic Account | N/A |
PAMM Account | No |
Customer Support Ways | Email, Phone |
Customer Support Hours | N/A |
Varchev Account Types
The broker provides a single primary account type for all traders with different styles. The lack of various account types can be a drawback for potential clients. The Real account also has a demo version that traders can use to test strategies and practice. Varchev account features:
Min Deposit | 200 USD/EUR/GBP 400 BGN |
Min Order Size | 0.01 lots |
Max Leverage | Professionals 1:500 Non Professionals 1:30 |
Spreads | Market |
Commission | None except for Stock CFDs |
Varchev Account Opening and KYC Verification
Opening an account with Varchev is a straightforward process designed to comply with regulatory requirements while ensuring a smooth onboarding experience for new clients.
- Visit the official website at “https://www.varchev.com/”;
- Click “Open Account” and select “Real”;
- Fill out the registration form;
- Adjust account settings;
- Choose platform, leverage, and base currency;
- Provide proof of identity (driving license or passport) and proof of address (utility bill or bank statement).
Varchev Broker Trading Platform Offerings
The broker provides traders with access to three powerful trading platforms, each catering to different trading styles and preferences.
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
Varchev Absolute Trader (VAT)
Varchev Fees Explained
All of Varchev reviews must discuss the trading costs associated with the broker. The company provides direct access to the markets. Thus, it offers market spreads. It also doesn’t charge commissions except for Stock CFDs. Note that commission charges differ based on your trading platform.
Platform | Stock CFDs Commission |
MT4 | $0.05 for stock |
MT5 | American $0.05 per stock minimum $5 European 0.10% minimum €5 |
Varchev Broker Payment Methods
The company offers a wide array of deposit/withdrawal methods to cater to the diverse needs of its global clientele, including:
- Wire Transfer: Raiffeisen, UniCredit, UBB, Fibank;
- Credit/Debit Cards: Visa, MasterCard, Maestro;
- E-Payments: PayPal, ePay.bg, Skrill, Neteller, uKash, GiroPay, Itau, Bitcoin.
Note that to request withdrawals, you must fill out a form and send it to the broker by fax or email.
Does Varchev Offer Copy Trading or Investment Plans?
The company offers Social Trading services through its proprietary platform “Varchev Absolute Trader”, which enables you to copy trades of successful traders and communicate with other clients.
The company also provides investment opportunities by offering access to global stock markets and IPOs. You can also contact Varchev’s experts for investment consultations.
Varchev Broker Bonuses and Promotions
The company’s bonus offerings are among the most attractive topics in all of the Varchev reviews. It has several promotion plans exclusive to professional clients, including:
- New Account: Up to $1,000 extra trading credits on first deposit;
- Cashback Program: Reimbursements on first-day losses up to $500;
- Friend: Refer a friend to the broker, and both of you will receive $100.
Varchev Customer Support
The company doesn’t perform well in terms of client support. It doesn’t have a dedicated “Contact Us” page on its website, and there are no indications of service hours. Varchev support channels:
info@varchev.com | |
Phone | +359 700 17 600 |
Live Chat | Not Working |
Varchev User Satisfaction
Trust score is a crucial factor in all of the Varchev reviews. The company doesn’t have a rated profile on any of the reputable review websites like TrustPilot, Forex Peace Army, and Reviews.io.
Conclusion and Final Words
Varchev provides access to 50,000+ instruments across various markets with leverage options of up to 1:500. Crypto trading is commission-free, however, trading Stocks on MT4 and MT5 include a $0.05 commission.
Varchev broker offers various incentives, from $1,000 deposit bonuses to $100 referral commissions. Wire Transfer (Raiffeisen and UniCredit) and E-Payments (PayPal, Skrill, and Neteller) are the main payment methods that we mentioned in this Varchev review.
