Varchev Finance Ltd Review - With Low Investment Costs and Attractive Bonuses, Is It Safe? - WikiFX

VARCHEV Information

As a trading platform with 30 years of experience in the financial market, Varchev provides investors with a rich variety of trading instruments, covering popular areas such as foreign exchange, cryptocurrencies, CDFs, and indices, meeting the diverse needs of different investors. It supports mainstream trading platforms like MT4 and MT5, with spreads starting as low as 0.1 pip, giving it competitive trading costs. At the same time, it has launched attractive bonus activities for professional clients, such as cash rewards for account opening, loss compensation, and referral rewards for friends.

Pros and Cons

Is VARCHEV Legit?

Since the United Kingdom left the European Union on January 1, 2021, Varchev Finance EOOD has terminated its registration with the Financial Conduct Authority (FCA) in the UK, and its passport number is UK-Registration Number: 494 045. Varchev Finance Ltd claims to be authorized and regulated by the Financial Supervision Commission in Sofia, Bulgaria, with a license number of RG-03-02-05 / 15.03.2006. However, there is no clear proof of information found.

What Can I Trade on VARCHEV?

VARCHEV provides various trading instruments, including cryptocurrencies, foreign exchange, contracts for difference, indices, gold, silver, gasoline, natural gas, ETFs, and more.

Account Type

Traders can open a demo account with a virtual amount of $100,000. For investors who want to open a real account online, they need to fill out an application form and submit a copy (either scanned or taken with a mobile phone) of both sides of their ID card, as well as copies of bills for water, electricity, heating, or bank account statements.

The process of opening a trading account concludes with the customer depositing funds via bank transfer (there is no minimum deposit requirement). After the customer's identity is confirmed, Varchev Finance will send a confirmation email containing security information and a login password.

VARCHEV Fees

Varchev offers spreads starting from 0.1 pip, low-cost stock trading starting from $5 per trade and $0.03 per stock, and there is no commission for Contracts for Difference (CFDs) on MT4 and MT5.

Leverage

Forex traders can choose their preferred margin/leverage level, ranging from 1:1 to 1:500.

Trading Platform

VARCHEV supports a variety of trading tools, including the MT4 and MT5 platforms, which are popular among traders. Traders can choose to use them on operating systems such as MAC OS and LINUX, as well as on mobile devices. In addition, there is the Varchev Absolute Trader, a mobile trading application suitable for tablets and smartphones running iOS or Android.

Deposit and Withdrawal

Both deposits and withdrawals support online transactions and bank transfers. Specific payment methods include Wire Transfer, credit cards, PayPal, Skrill, NETELLER, giro pay, ltaú, bitcoin, etc. Traders can apply for cash withdrawals by phone, email, fax, online chat, or by visiting the office of Varchev Finance in person. If carrying cash, you can go to any of the offices in Sofia and Varna between 9:00 a.m. and 6:00 p.m. on working days. The addresses are as follows:

Sofia - “Tzar Samuil” street N1 at the corner of Patriarch Euthymius.

Varna - “Vladislav Varnenchik” boulevard 186, Floor: 4, office: 4.035

Bonus

VARCHEV offers a variety of bonus activities, which are only applicable to professional clients.

Reward for “Clients” bonus - There are cash rewards for opening an account, and the rewards are as shown in the following table.

Bonus of “Cash Rebate” - The company will compensate new clients with $500 for the losses incurred on the first trading day; after the first trading period, if the negative result of the closed positions is less than $500, the balance will be refunded to the original amount.

Additional “Friends” bonus - If you recommend a friend to open a new account, both parties can receive a reward of $100.