Varianse is a reputable forex broker based in the United Kingdom, authorized and regulated by the UK Financial Conduct Authority (FCA). This comprehensive review of Varianse delves into its offerings, deposit methods, features, and customer support to help you make an informed decision about signing up.
Established in 2015 by a team of financial market experts, Varianse is headquartered in London and operates under the ownership of VDX Ltd. Since its inception, it has garnered recognition and trust from thousands of retail traders worldwide, receiving numerous industry awards along the way.
Varianse's trading platform of choice is MetaTrader 4 (MT4), a renowned and user-friendly software widely used by forex day traders. The MT4 platform is readily accessible via download from Varianse's website, offering traders a data-rich environment complemented by a diverse array of tools for in-depth market analysis.
MT4 boasts an impressive array of features, including over 50 technical indicators, 30 advanced charting tools, and nine time periods. Customizable indicators, advanced algorithmic trading options, and a comprehensive historical database make it suitable for both novice and experienced traders.
At Varianse, clients can trade across 45 forex pairs. Classic and ECN Pro account holders enjoy additional access to CFDs covering precious metals, energies, futures, and ten global stock indices.
Custom Baskets and Indices
Varianse also offers custom-calculated forex baskets and indices. These innovative products consist of weighted groups of forex pairs, mirroring the behavior of standard forex pairs. Forex baskets help mitigate risks associated with fluctuating currency prices.
Trade Weighted Index
Trade Weighted Indices (TWIs) are constructed based on a central bank's currency index, taking into account the influence of each constituent currency. These indices measure a currency's performance against its major competitors, reflecting medium-term effects of inflation and exchange rate fluctuations.
Varianse's commodity index tracks the US Dollar's performance against the Australian Dollar, Canadian Dollar, and New Zealand Dollar. These currencies are highly sensitive to commodity price changes, offering opportunities for intricate trading strategies.
Varianse calculates a currency volatility index, providing a benchmark for future volatility expectations. This index comprises the nine most liquid crosses, with weights determined by average daily turnover.
Spreads & Commissions
Varianse generates revenue through a combination of variable spreads and commissions. Prime and ECN Pro account holders benefit from competitive spreads, sometimes reaching as low as zero on major forex pairs.
Classic account spreads, while less competitive, start at 1 pip during periods of high liquidity. Commissions for Prime accounts start at $3 per lot for trade volumes up to $0.5 billion per month, while ECN Pro accounts are charged $3.50 per lot. Classic accounts do not incur commissions, with fees being integrated into the spreads.
Varianse does not impose inactivity fees, but it does apply swap fees for overnight positions, which can either be positive or negative depending on the instrument held.
Retail clients under the jurisdiction of the European Securities and Markets Authority (ESMA) experience leverage limits of 1:30 to manage risk. Professional traders with Classic or ECN Pro accounts, however, can access higher leverage rates up to 1:400, while Prime account holders have access up to 1:200.
Varianse caters to traders on-the-go with the MetaTrader 4 mobile application. This mobile app is compatible with iOS, Android, Windows-powered smartphones, tablets, and pocket PCs. Featuring over 30 indicators and seamless integration with the desktop platform, it provides a convenient and efficient trading experience.
Funding and withdrawing from Varianse accounts are flexible, with options including bank transfers, e-wallets, and Visa or Mastercard payment cards. Varianse does not charge fees for deposits, but keep in mind that some banks and payment processors may impose their own charges. Deposits can be made in multiple currencies, including GBP, EUR, USD, JPY, PLN, and AUD, depending on the method chosen.
Withdrawals can be processed through the same methods as deposits, though additional processing fees of £5 for cards and £30 for bank transfers may apply.
Varianse offers a risk-free demo account, allowing traders to explore various trading strategies, platforms, and charting tools using virtual money.
Deals & Promotions
While Varianse does not provide deposit bonuses or promotion codes, it entices traders with a one-month free trial of MetaStock XENITH. This suite offers a potent financial analysis toolbox, including forex calculators, heatmaps, charting tools, and economic event data valued at $150.
Regulation & Licensing
Varianse operates under the regulation of the UK Financial Conduct Authority (FCA) and is owned by VDX Ltd. Traders also benefit from protection through the Financial Services Compensation Scheme (FSCS), which provides reimbursement of up to £50,000 in the event of a broker's inability to deliver services. Client funds are kept in segregated accounts with Barclays Bank.
Varianse goes beyond a standard trading service with various offerings. Retail clients enjoy negative balance protection. Virtual private servers (VPS) are available, reducing latency and enhancing market opportunities. Cross-connected VPS are even faster, with latency speeds less than 0.4ms.
The one-month free trial of MetaStock XENITH offers institutional-level market analysis, including real-time economic news, FX heatmaps, advanced indicators, and charting methods.
Varianse offers three live trading account types, each tailored to different experience levels and trading volumes. All accounts include hedging, scalping, automated trading, and client money segregation.
- Professional leverage 1:400
- Minimum deposit $500
- Spreads start at 1 pip
- 100+ instruments
- No commissions
- CFDs offered
- ECN Pro
- Professional leverage 1:400
- $3.50 commission per lot
- Minimum deposit $5,000
- Spreads start at 0 pips
- 100+ instruments
- CFDs offered
- Variable commission based on trading volume
- Professional leverage 1:200
- Minimum deposit $50,000
- Spreads start at 0 pips
- Free X-connected VPS
- 60+ instruments
- No CFDs offered
Varianse's trading hours are nearly 24/7, with a brief daily trading break and maintenance periods. Please note that FIX API connections may follow different maintenance schedules.
- Trading Hours: 22:05 to 22:00 GMT (Sunday through Monday)
- Daily Trading Break: 22:00 to 22:05 GMT
- Daily MT4 Maintenance Break: 04:00 to 04:03 GMT
Varianse offers customer support during trading hours via an online chat function on their website. Support is available from 9:00 to 18:00 GMT, Monday to Friday. Additional contact options include telephone and email:
- Phone: +44 203 475 2285
- Email: firstname.lastname@example.org
Customer reviews generally speak positively of Varianse's support team's ability to assist with various queries.
Varianse prioritizes client data security and employs sophisticated cybersecurity measures. These include server authentication, firewalls, and multiple data encryption techniques, including SSL 3.0 provided by Cisco.
Advantages and Drawbacks
Advantages of Varianse:
- Access to a complimentary MetaTrader XENITH trial.
- Swift execution times, ensuring prompt trade execution.
- No limitations on trade size, offering flexibility to traders.
- Automated trading options for enhanced efficiency.
- Availability of forex baskets, diversifying trading opportunities.
- Attractive low spreads for cost-effective trading.
Drawback of Varianse.com
- Customer support availability is limited during specific hours.
- Lack of cryptocurrency trading options for digital asset enthusiasts.
- Absence of comprehensive educational resources for traders seeking guidance.
- No social trading features for collaborative trading experiences.
- Incurrence of withdrawal fees that may affect the overall cost of transactions.
Varianse stands out for its low-latency trading environment and advanced analysis tools. With a diverse range of tradable assets, including forex baskets, the broker is a strong contender in the forex trading arena. However, it falls short in the areas of cryptocurrency trading and educational resources. Therefore, it is best suited for experienced traders, while newcomers may benefit from exploring other broker options.
Varianse Broker Details
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