VARIANSE Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $500
- cTrader
- MetaTrader4
- FCA
- 2014
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $500
- cTrader
- MetaTrader4
- FCA
- 2014
Our Evaluation of VARIANSE
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
VARIANSE is a broker with higher-than-average risk and the TU Overall Score of 4.38 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by VARIANSE clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Varianse is a CFD broker, which means that all assets it offers are CFDs. There are more than 200 trading instruments in the company's assets pool with no restrictions on styles and strategies. Leverage is moderate and spreads are lower than with many of this broker’s competitors. The basic account currencies are USD, EUR, GBP, and PLN. Major deposit and withdrawal channels are subject to withdrawal fees, including crypto (BTC) wallets. Other disadvantages of this broker are high minimum deposits and less than 24/7 phone support.
Brief Look at VARIANSE
The VARIANSE (also “Varianse”, below) company provides its services to traders from more than 100 countries, giving them access to six CFD markets, such as currency pairs, stocks, indices, precious metals, energies, and cryptocurrencies. A demo account and three live account types, namely Classic, ECN Pro, and Prime, are available. The minimum deposit is $500. Minimum spreads are 0-1 pips. Fees, if any, depend on the asset and account type. Or, there may be no pips. For example, the fee for currencies and metals on ECN Pro is $3.5 per lot. This broker’s clients can trade on MetaTrader 4 and cTrader. Education is available only through articles, and there is no current news. There are no special tools for fundamental and technical analyses either. Passive income options are joint MAM accounts and the copy trading service.
- This broker has offices in the UK, Malaysia, and Mauritius, where it is officially registered and regulated;
- Choice of several live account types provides for individualizing offers;
- Traders work on modern trading platforms;
- Large choice of assets in combination with leverage up to 1:500 significantly expands the profit potential;
- Spreads are market average or even more profitable (from 0 pips), and trading fees are lower than those of most brokers;
- Traders can receive passive income using MAM accounts and the copy trading service;
- This broker partners with tier 1 liquidity providers, which gives raw spreads from 0 pips on the ECN Pro account;
- Technical support is provided by many major channels, such as email, live chat, and phone, and is highly evaluated by users.
- Minimum deposits are $500, $5,000, and $50,000 for Classic, ECN Pro, and Prime accounts, respectively, which are substantial numbers;
- This broker does not have a referral program for individuals;
- Call center specialists work Monday through Friday, from 9:00 to 18:00 GMT, that is, managers are not available at night and on weekends.
TU Expert Advice
Financial expert and analyst at Traders Union
Varianse is a project of VDX Derivatives, which has several offices worldwide. The company is regulated by the Mauritius Financial Services Commission (FSC), the UK Financial Conduct Authority (FCA), and Labuan Financial Services Authority (LFSA) in Malaysia. All documents are freely available and can be checked. TU experts did not find any evidence of this broker's non-fulfillment of its obligations to its clients.
Free demo account, leverage up to 1:500, and more than 200 CFDs from 6 groups are standard elements that do not distinguish Varianse from its competitors. Working through MT4 and cTrader is a clear advantage, but not a conceptual one. This broker does not set trading restrictions. Its spreads are lower than market average, especially if you work on the ECN Pro account. The fees are less than those of many of this broker’s competitors, although there are companies with even more favorable conditions.
Traders can use this broker’s proprietary MAM accounts and copy trading services. In general, technicians highly evaluate the site, as it has fast order execution and reliable protection of users’ funds and data. Client money is held in Barclays.
Among the disadvantages, there are regional restrictions and a lack of a referral program for individuals. The entry threshold of $500 for the Classic account is conditionally high, while for other accounts it is even higher. Technical support is not round-the-clock; however, this is not unique. Thus, Varianse confidently occupies a high, but not a top, position in the list of the best CFD brokers.
VARIANSE Summary
| 💻 Trading platform: | МetaТrader 4 and cTrader |
|---|---|
| 📊 Accounts: | Demo, Classic, ECN Pro, and Prime |
| 💰 Account currency: | USD, EUR, GBP, and PLN |
| 💵 Replenishment / Withdrawal: | Swift, Visa, Mastercard, crypto wallets, Neteller, and Skrill |
| 🚀 Minimum deposit: | $500 |
| ⚖️ Leverage: | Up to 1:500 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | Floating from 0 pips |
| 🔧 Instruments: | CFDs on currency pairs, stocks, indices, precious metals, energies, and cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | Market execution |
| ⭐ Trading features: |
Free demo account; Three live accounts; High entry thresholds; 200+ CFDs from 6 different groups; Low spreads and fees; Withdrawal fees; Proprietary copy trading service and MAM accounts; No analytics or special tools |
| 🎁 Contests and bonuses: | Bonus from Traders Union |
Varianse offers several live account types with minimum deposits of $500 for Classic, $5,000 for ECN Pro, and $50,000 for the Prime account. The maximum trading leverage on all accounts is 1:500, but Prime account holders can request to increase it. In fact, Prime provides quite a few benefits, including customized liquidity optimization and VPS cross-connection. Technical support can be contacted using the call center, email, and live chat, Monday through Friday, from 9:00 to 18:00 GMT.
VARIANSE Key Parameters Evaluation
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Trading Account Opening
To start working with this broker, register on its website, get verified, open a live account, make a deposit, and download a trading platform. TU experts have compiled the below detailed guide on registration and what features comprise Varianse’s user account.
Go to this broker's website. In the upper right corner, select the interface language and click the “Register” button.
Select your country of residence, enter your first and last names, phone number, and email. Create a password and agree to the terms of data processing by ticking the box. Click the “Sign Up” button.
A letter from this broker will be sent to the specified email. Click the link in this email.
You will find yourself in the user account. Click the “COMPLETE LIVE APPLICATION” button. Choose a language, select an account type, and enter your date of birth and address with postal code. Use a referral code if any and click the “Continue” button.
Select account options. Enter tax, income, and other information. Fill in all the fields and click the “Continue” button.
Upload a scan/photo of a document confirming your identity. Wait for the check to complete.
Go to the “Deposit Funds” section. Select a deposit channel and follow the instructions on the screen. Note that there is a minimum deposit amount for every account type
Go to the “Download platform” section. Choose the appropriate MT4 or cTrader option. Download the distribution and install it on your device. Enter your registration data in the platform and start trading.
Features of the user account:
Profile. Here traders enter and edit their personal data, and upload documents for verification;
Accounts. This block is needed to open/close a live or demo account. It also displays statistics on active accounts;
Deposit funds. Here this broker's clients select a deposit channel and fund the account balance;
Requests. This block displays all of a trader's accounts, each with a basic summary for leverage, server, platform, etc.;
MAM room. Here traders have the opportunity to become joint account managers or investors;
Platform download. This block contains distributions of all versions of MetaTrader 4 and cTrader;
VPS. Here you can get access to a free virtual dedicated server subject to conditions.
Regulation and safety
For any brokerage company, regulation is as important as registration. If a broker officially operates as a financial institution, it means that its activities are legal. While regulation is voluntary, it confirms the transparency of a company, and fulfillment of its obligations to clients. Varianse is owned by a Fintech conglomerate: VDX Derivatives is regulated by FSC, VDX Ltd is controlled by FCA, and VDX Capital Ltd is monitored by LFSA. Hence, this broker has three regulators, which means that traders can always count on comprehensive protection of their interests.
Advantages
- Traders can seek advice from technical support of this broker
- This broker’s clients can consult FSC, FCA, and LFSA
Disadvantages
- Traders may not consult any financial controllers outside UK, Malaysia, and Mauritius
- No possibility to contact regulatory organizations that do not monitor this broker’s activities
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Classic | 10$, no fees for currencies, metals, and energies | Yes |
| ECN Pro | 0$, the fee for currencies and metals is $3.5 per lot, other assets are also subject to fees | Yes |
| Prime | 0$, variable fees | Yes |
Withdrawal fees are the third item in the list of the main costs of a trader. Varianse charges this fee, but its exact amount is not known, as it depends on many factors. However, this broker works transparently and provides data on all transactions in advance. That is, traders know exactly how much the withdrawal will cost before actually placing their bid, for example, to a Visa card or a BTC wallet. They receive this information when submitting a request. The table below shows average fees of Varianse as compared to its competitors.
| Broker | Average commission | Level |
|---|---|---|
|
$4.5 | |
|
$1 | |
|
$8.5 |
Account types
The choice of the account type is of great importance. For some brokers, account types do not differ too much, but at Varianse they differ significantly, and it's not just spreads and trading fees. For example, the extended asset pool and FIX API messaging protocol are not available on the Classic account, while users with ECN Pro get these features. However, they don't have extended liquidity pools and VPS that are available on Prime. Spreads start at 1 pips on Classic and 0 pips on other accounts. There are no standard fees for currencies and metals on Classic, but they are $3.5 per lot on ECN Pro, and the fee is variable on Prime. They also differ significantly in fees for other asset types. After choosing an account, TU experts recommend paying more attention to trading platforms. For example, if users have always worked with cTrader, they should definitely try MT4 and compare these solutions.
Account types:
As a rule, if traders have not worked with the site before, they first open a free demo account. There users trade with real quotes, but virtual currency. This provides for learning this broker’s conditions and working out certain strategies. Then, based on their budget and personal preferences, traders choose one of the three live accounts.
Deposit and Withdrawal
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If traders work on a demo account, they trade with virtual funds, therefore they do not receive real profit and do not withdraw anything;
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When trading on any of the three live accounts, this broker's clients execute full-fledged trades; therefore, they earn and withdraw money if successful;
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Withdrawal requests are submitted in the corresponding block of the user account. Available channels are Swift, Visa, Mastercard, crypto wallets, Neteller, and Skrill;
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Withdrawal requests are processed on the day of their submission, while the withdrawal of funds takes an average of 1 to 3 business days;
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The withdrawal is subject to a fee which becomes known when submitting the request, and which depends primarily on the withdrawal channel.
Investment Options
All brokers focus on active trading, as most traders come exactly for that. However, investment programs can be a significant advantage, especially when it comes to easy-to-learn and practical services like joint accounts and copy trading. Varianse offers both options.
MAM accounts
Joint accounts allow a manager to control several sub-accounts of investors at once. Managers trade their own funds plus funds from sub-accounts. Investors can limit the amount of money available to managers. For example, when a manager bets $1,000, $100 will be debited from the sub-account if its owner has set such a limit. Further, in case of a successful trade, everyone receives a proportional profit in accordance with their bets, and the manager charges an extra fee from investors. Investors benefit in the possibility of earning passively with reduced risk, especially if managers are experienced and successful.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Copy trading
Here, there are investors and signal providers. Signal providers broadcast their trades to investors, who can copy them on their own accounts. That is, signal providers do not control or involve themselves with investor accounts. Investors simply copy the signal provider’s actions. This is done automatically once an investor subscribes to a signal provider’s services. Of course, investors do not have to copy the trade “one to one”, they have the opportunity to use a lower bet, for example. If the provider executes a successful trade, everyone gets a profit proportional to their investment. As with joint accounts, investors pay a small percentage of their profits to the provider.
Customer support
Every broker needs technical support. After all, traders regularly face situations that they cannot figure out on their own. User experience does not matter, the problem may arise when trading, depositing, or withdrawing funds. And the client has the right to count on qualified and prompt assistance. If managers work extremely slowly or are not able to help traders, they will inevitably be disappointed and leave for a competing company. Varianse offers client support available via call center, email, and live chat on the website and in the user account. Standard support hours are Monday through Friday, 09:00 to 18:00 GMT. However, the live chat is available around the clock.
Advantages
- Several communication channels are available
- Non-clients of this broker can contact technical support
- High efficiency of managers during working hours
Disadvantages
- Support can be contacted at night and on weekends via live chat only
Communication channels are as follows:
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email;
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telephone;
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live chat on the website and in the user account.
Note that this broker has its profiles on Facebook, Instagram, Twitter, and LinkedIn. There you can also contact support. Subscribe to this broker to keep up-to-date on its news.
Contacts
| Foundation date | 2014 |
|---|---|
| Registration address |
24 St. Georges Street, Port Louis, Mauritius 20 North Audley Street, Mayfair, London, W1K 6LX, United Kingdom Robin Business Center 3, Lazenda Warehouse, Jalan Ranca-Ranca, Labuan, Malaysia |
| Regulation |
FCA
Licence number: 802012 |
| Official site | https://varianse.com/ |
| Contacts |
+230 5297 0989, +44 (0) 203 475 2285
|
Education
It is important for traders not only to practice, but also to improve their theoretical background. Therefore, many people read eBooks, communicate with colleagues on specialized forums, and take free and paid courses. There are brokers that provide training at various levels from a trading glossary to full-fledged lectures. Varianse does not offer all the above. The website has only standard FAQs in the Help Center and a small collection of articles. This cannot be called a critical drawback, because traders come to brokers to trade, and not to learn how to trade. However, an advanced educational system will always be an advantage for any brokerage company.
Traders who decide to work with Varianse should understand that here they can only learn by doing and watching experienced colleagues in the copy trading service. Also note that this broker does not provide tools for analysis and forecasting, there is not even an economic calendar. That is, the company's clients in any case will have to use third-party resources and/or software.
Comparison of VARIANSE with other Brokers
| VARIANSE | RoboForex | Pocket Option | Exness | Octa | Tickmill | |
| Trading platform |
cTrader, MetaTrader4 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MetaTrader4, MetaTrader5 | MT4, MT5, Tickmill Mobile App |
| Min deposit | $500 | $10 | $5 | $10 | $25 | $100 |
| Leverage |
From 1:1 to 1:500 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No | Yes |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0 points | From 0 points | From 1.2 point | From 1 point | From 0.6 points | From 0 points |
| Level of margin call / stop out |
No | 60% / 40% | 30% / 50% | No / 60% | 25% / 15% | 100% / 30% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | $30 |
| Cent accounts | No | Yes | No | No | No | No |
Detailed review of VARIANSE
Varianse is a project of VDX Derivatives, so from the very beginning it had no problems with constructing an excellent technological base and secure trading environment. Currently, it uses advanced solutions like virtual servers. It also partners with tier-1 liquidity providers. Barclays, one of the UK's largest financial conglomerates, is an official partner of Varianse. Due to all these advantages, the company is able to provide its clients with services meeting the industry's leading standards, including fast order execution, low costs, and convenient and intuitive infrastructure without functional problems.
Varianse by the numbers:
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Provides services in 100 countries;
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200+ trading instruments from 6 groups;
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Average order execution time is 12 ms;
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Spreads are from 0 pips;
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Average positive slippage is +0.4 points.
Varianse is a convenient broker for novice and experienced traders
Selecting a convenient trading platform is a priority for many traders. Although MetaTrader 4 is considered the best solution, cTrader also has a lot of fans. If a trader can work with a familiar platform, this is always an advantage for a broker. The next key is the choice of assets. The more diverse they are, the wider users’ strategic opportunities, and the easier it is for them to diversify risks through an investment portfolio consisting of several types of assets. Finally, sufficient leverage to achieve one’s financial goals is important.
Useful services offered by Varianse:
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Joint accounts. The MAM system allows a manager to control several accounts owned by investors and trade using the funds available to them. Managers additionally earn on fees, and investors receive passive income;
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Copy trading. The copy trading service provides the same benefits as joint accounts. Signal providers charge fees for their services, and investors receive profit without personally participating in trades. Additionally, investors gain relevant experience;
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Virtual personal servers. VPS is free for Prime account holders. It provides for 24/7 automated trading without using the technical capabilities of the trader's own equipment. Due to such servers, order execution speed increases, and slippage decreases.
Advantages:
A new client of this broker can open a free demo account to explore the site and to practice;
Traders have hundreds of CFDs from six different groups at their disposal, which greatly expands their strategic options;
Passive income options like MAM accounts and copy trading allow each trader to receive additional income;
This broker works 100% transparently, thus there are no hidden fees;
Although the main communication channels with technical support are not available 24/7, this broker's live chat works even at night.
User Satisfaction