Varianse Review 2024

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Varianse is an FCA-licensed broker offering forex and CFD trading through the MT4 and cTrader platforms. The UK broker offers a secure, flexible trading environment catering to a range of trading styles and strategies. In this review, we deep dive into the Varianse online trading experience with insights from our trading experts on fees, markets, platforms and more.

Our Take

• Varianse would suit Professional traders looking for premium pricing conditions and FIX API connectivity
• The cTader Copy Trade feature offers excellent analytics and detailed metrics to help find the best strategies
• Beginners may be priced out of the $500 Classic account and the fees for deposits are disappointing
• The education and analysis sections are limited and do not rival competitors

Market Access

Our team found 200+ assets across five major asset classes at Varianse, which is not the widest selection compared to leading brands like AvaTrade and XTB.

The breadth of commodities and stocks, in particular, is light, so it’s not the best broker if you want to trade those. Varianse fares better in terms of forex and indices, with a decent selection of both.

• Forex: Trade 44 major, minor and exotic forex pairs
• Precious metals: Diversify your portfolio and trade gold or silver
• Indices: Access 10 global indices including Dow Jones, FTSE and NASDAQ
• Equities: Trade 118 CFDs on major global companies such as Microsoft Group Inc, Expedia and Amazon
• Cryptos: Pro clients can explore 23 of the biggest names in crypto such as Bitcoin, Ethereum, Cardano, Litecoin and Ripple

Accounts

Clients can choose between three Varianse account types: Classic, ECNpro and Prime.

Minimum deposits start from $500 for the Classic account, which is very high for an entry-level account. Top beginner-friendly brokers such as XM, let you start with just a $5 minimum deposit.

I did find that the premium accounts come with some decent benefits such as full market depth and FIX API access. I was also pleased to see Islamic (Sharia-compliant) and joint accounts available on request.

We have pulled out the key features of each account below:

Classic

Best for newer traders

• Spreads: From 1 pip
• Commission on FX & metals: 0
• Minimum deposit: $500
• Leverage: 1:30 (1:500 for Pro clients)
• Advanced client portal: Yes

ECNpro

Best for experienced traders

• Spreads: From 0 pips
• Commission on FX & metals: 3.50/lot per side
• Minimum deposit: $5,000
• Leverage: 1:30 (1:500 for Pro clients)
• Advanced Client Portal: Yes
• Full Market Depth: Yes
• FIX API: Yes

Prime

Best for high-volume traders

• Spreads: From 0 pips
• Commission on FX & metals: Negotiable
• Minimum deposit: $50,000
• Leverage: Negotiable
• Advanced Client Portal: Yes
• Full Market Depth: Yes
• FIX API: Yes
• Tailored liquidity and execution: Yes
• ECN liquidity layered to 20m+ for large ticket fills: Yes
• Sponsored cross-connected VPS: Yes

How To Open A Trading Account

When I opened a Varianse account, I found the registration process fast and straightforward:

1. Complete the registration page, submitting your contact details including your email address
2. Click the ‘Sign Up’ button
3. You will then receive a registration email, click the client portal link to be directed to the activated web page
4. Select ‘Complete Live Application’ and submit your details and documentation

Live account registration is usually processed within 24 hours.

Once the account has been opened, you will receive an email with your login account details.

Varianse Fees

Spreads & Commissions

Varianse makes its money from both commissions and variable spreads.

ECNpro and Prime account holders have access to the best conditions, with spreads starting from as low as 0 pips on major forex pairs. The average spread for the EUR/USD pair in the ECNpro account is 0.6 pips. Frustratingly, these conditions are only accessible if you can deposit $5,000 for the ECNpro account or $50,000 for the Prime account, which will price out many beginners.

In the Classic account, spreads are also wider. When we tested Varianse, we were offered 1 pip on EUR/USD. This is not very competitive compared to Pepperstone, for example, which offers a 0.75 pip spread on the same pair.

The good news is, there is no commission on forex and precious metals in the Classic account. With that said, our experts found a 0.1% commission on stocks and 0.5/lot per side on indices.

Commission for forex and precious metals start at 3.5/lot per side for ECNpro accounts, whilst in the Prime accounts, rates are negotiable.

Other Fees

Our team were pleased to see that Varianse does not charge any inactivity or management fees, which means investors can trade as much or as little as they like without penalty.

The broker does charge swap fees, however, which are implemented on positions held open overnight.

There are also fees associated with deposits and withdrawals. Charges vary between funding methods and range between 1.5% and 3.9% for bank cards and e-wallet payments. This is a noticeable drawback vs the top UK brokers which offer fee-free account funding.

Funding Methods

Varianse offers the most popular payment methods for UK investors, supporting flexible deposits and withdrawals. Traders should note, however, that most withdrawals are processed only by wire transfer.

Available funding methods include:

• Bank wire transfer
• E-Wallets – Neteller and Skrill
• Credit and debit cards – Visa and MasterCard

Deposits

Deposits are usually processed within the same day, though we would have hoped that e-wallets are processed instantly. Deposits made after 6:00 pm (GMT) will be processed the following working day.

I was happy to find that deposits made via bank wire transfer are supported in a range of currencies including GBP. Deposits made via e-wallets and payment cards can also be made in GBP.

However, I wasn’t thrilled to find that Varianse charges fees for deposits. For example, you can expect a 1.5% charge to deposit via debit/credit card, whilst e-wallets are charged at 3.9%. This is disappointing as many top brokers such as IC Markets offer free deposits.

The good news is that payments made via bank wire transfer are free of charge and there is no daily cap on deposits.

Withdrawals

Unfortunately, all Varianse withdrawals carry a fee. For credit/debit cards, this is £5, whilst withdrawals made via bank transfer will cost you £30.

In addition, the minimum withdrawal is £50 or equivalent in whichever base currency you have used.

Withdrawals are usually processed the same working day but, as expected, clients will need to allow up to 1-3 working days for the funds to appear in their account.

It is disappointing to see that both deposits and withdrawals carry a fee. In our experience, these fees can soon add up, making a real dent in profits for active traders.

Trading Platforms

Clients can choose between two top-tier trading platforms at Varianse: MetaTrader 4 (MT4) and cTrader.

MetaTrader 4

The world’s most popular online trading platform, MetaTrader 4 (MT4) caters to a range of trading styles and requirements. The simple navigation, range of advanced tools, and fast execution make it a versatile option for traders of all experience levels.

Whether you’re scalping forex pairs, or investing in CFDs, MT4 is a data-led environment allowing for advanced market analysis. Despite the complex technical tools and comprehensive charting features, I find the platform easy to use, with in-depth tutorials for those who need guidance.

In addition, MT4 is compatible with desktop, iOS and Android devices and can be downloaded from the broker’s website.

Some of my favourite features include:

• Access to Expert Advisors (EAs) plus integrated strategy tester
• Multiple order types including Market, Limit and Stop orders
• 50+ technical indicators plus 9 time periods
• Multi-language interface
• One-click trading

cTrader

We were also impressed to see cTrader offered for Varianse clients. With 100 timeframes, integrated risk management, and custom indicators, cTrader remains an industry favourite among savvy traders looking to code their own custom indicators and bots.

I particularly like that cTrader offers an integrated copy-trading function, offering hundreds of strategies. There is also advanced charting, ultra-low latency STP execution and additional analysis tools to rival those found in MT4.

cTrader seamlessly integrates across devices including Web, mobile and desktop.

• Financial news and economic calendar
• Tick charts, Renko and Range charts
• Copy trading functionality
• Instant account analysis
• 100 chart timeframes

As a bonus, there are no restrictions on trading style or strategy across the platforms, so scalping and hedging are supported.

Note that guaranteed stop-loss limits are not offered.

Varianse also offers FIX API for high-volume traders or experienced algo traders requiring ultra-low latency and premium execution conditions. Connectivity is supported via PrimeXM XCORE and cTrader FIX API.

Mobile App

Varianse does not offer a proprietary mobile app, but clients can trade through the MetaTrader 4 app. The MT4 app is available on iOS and Android devices and can be downloaded from the Apple App Store or Google Play free of charge.

I was pleased with the application’s overall functionality, with 30+ indicators, timely alerts, full trading history and fast execution. Most of the desktop tools and features are supported but with the added flexibility of being able to trade from anywhere.

When testing the app, our experts also found the interface generally stable and responsive.

Varianse Leverage

In the UK, the Financial Conduct Authority (FCA) imposes maximum leverage limits to protect investors from incurring significant losses.

As such, retail leverage is available up to 1:30 at Varianse while professional traders can access up to 1:400.

Demo Account

Our experts were impressed with the broker’s flexible and free demo account available to all prospective clients. The account can be loaded with a chosen amount of virtual funds and offers a simulated but accurate trading experience on both MT4 or cTrader.

Demo accounts are ultimately a great way to get to grips with Varianse’s platforms and features, risk-free.

How To Open A Demo Account

1. Complete the standard account registration form on the broker’s website
2. You will receive a registration email with a link directing to the client portal
3. On the activated page, click ‘Try Demo Account’
4. Choose an account type, leverage and virtual deposit sum
5. You will then be sent your login details

UK Regulation

In the UK, Varianse is authorised by the Financial Conduct Authority (FCA) under license number no. 802012. As such, Varianse takes the safety and security of client funds seriously.

We were pleased to see that user funds are held in segregated accounts with Barclays Bank. The strict regulation also means that UK traders are eligible for compensation under the Financial Services Compensation Scheme (FSCS). All UK clients also have negative balance protection so your account cannot fall below zero.

Abroad, Varianse is authorised by the Financial Services Commission (FSC) Mauritius, under FSC License no. C118023323. In the Asia Pacific region, Varianse (VDX Capital Ltd) is regulated by the Labuan Financial Services Authority (LFSA) Malaysia, LFSA License no. MB/20/0051.

Extra Tools & Features

Varianse offers a decent range of additional educational tools and resources for free. We liked the in-depth blog articles which cover a range of trending topics including economies and markets, risk management and strategies. With that said, the articles are not shared very regularly which is disappointing.

I also found some market insights offering forex analysis conducted by industry experts, however, once again, these are not updated regularly.

I was particularly pleased to see that Varianse offers a copy trading service, which allows investors to mirror the strategies of other users. The platform allows you to observe trading in real time whilst also offering social collaboration. On the dashboard, you can view top strategies showing All Time ROI stats, total invested funds and minimum investment required.

Overall, the selection of educational resources and trading tools are fairly average and, in my opinion, do not stand out against top brands like IG Index.

Customer Service

I was disappointed to see that customer support at Varianse is not available 24/5, unlike most other brokers. Instead, traders can only get support during the broker’s standard contact hours: 9:00 am – 6:00 pm GMT, Monday to Friday.

To speak to a member of the team:

• Email: support@varianse.co.uk
• Telephone: +44 203 475 2285
• Address: 20 North Audley St, Mayfair, London, W1K 6LX
• Online Live Chat: Located in the bottom right corner of the broker’s website

I did find a useful list of FAQs within the broker’s help centre, with detailed information on a range of topics such as funding and withdrawals and opening a live account.

Bonus Deals

In accordance with FCA regulations, Varianse does not offer any promo codes, deposit deals or welcome bonuses. This is pretty standard at UK-regulated brokers so we don’t consider this a major drawback.

Company Details & History

Varianse was founded in 2015 by a group of former engineers and traders. Over the past several years, the broker has expanded steadily. Today, they have a global client base across 100 countries.

The broker’s headquarters is in London but there are additional offices in Mauritius and Malaysia.

Varianse has also been recognised internationally for its services to online trading. The broker has won several prestigious industry awards in recent years, including Best Forex Broker for Online Trading, 2022 – International Business Magazine and Best Trade Execution House, 2021 – Global Excellence Awards.

Trading Hours

Trading hours at Varianse vary depending on the asset and relevant market exchange. In the UK, typical trading hours are as follows:

• Forex: 10:05 pm – 9:55 pm (Sunday to Friday)
• Metals: 11:05 pm – 9:55 pm (Sunday to Friday)
• Indices: 11:00 pm – 10:00 pm (Sunday to Friday)
• Oil: 1:05 am – 9:55 pm (Sunday to Friday)
• Cryptocurrency: 24/7

Note that trading hours will be adjusted in line with Daylight Savings Time from March – October.

Should You Trade With Varianse?

Varianse is a reputable, licensed broker offering a modest range of assets and two of the industry’s leading platforms. Spreads are generally competitive but only accessible for experienced traders with a relatively large starting capital. In addition, the broker’s education resources are limited compared to alternatives.

FAQ

Article Sources

Varianse Website

Varianse FCA License

Varianse FSC Mauritius License

Labuan FSA List of Approved Brokers

Top 3 Varianse Alternatives

These brokers are the most similar to Varianse:

1. Swissquote - Swissquote is a Switzerland-based bank and broker that offers online trading and investing. The company has a high safety score and is listed on the Swiss stock exchange. The firm offers a huge range of products, from stocks, ETFs, bonds and futures to 400+ forex and CFD assets. Hundreds of thousands of traders have opened an account with the multi-regulated brokerage. Clients can get started in three easy steps while 24/7 customer support is available to assist new users.
2. IG Index - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
3. FXPrimus - FXPrimus is an award-winning CySEC-regulated brokerage offering CFD trading on 200+ instruments via the MetaTrader 4, MetaTrader 5 and cTrader platforms. The choice between a competitive commission-free account and two affordable raw spread options make this an accessible broker for anyone seeking forex, stocks, indices and commodities with high leverage.

Varianse Feature Comparison

Trading Instruments Comparison

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