Overview of VARIANSE
Founded in 2015 in the UK, VARIANSE operates without formal regulation by the FCA. It offers assets from crypto to equities and access to cTrader and MT4 platforms. VARIANSE provides multiple account options, including Classic, ECNpro and Prime. The broker also offers strategy articles, risk management book reviews, and more, alongside robust customer support through multiple channels.
Pros and Cons
VARIANSE stands out with its extensive array of market instruments across various asset classes, highlighting its $0 spread on BTCUSD trades—a key benefit for cryptocurrency market participants. Additionally, the brokers policy of not charging deposit fees for bank wire transfers aligns with cost-effective trading practices.
Contrarily, the absence of official regulation casts a shadow over the brokerages credibility, presenting a significant drawback for traders who prioritize regulatory security. Deposit fees on selected methods will discourage cost-conscious traders, while the minimum withdrawal limit of $100 could be inconvenient for those managing smaller account balances. Currency conversion fees add to the trading costs, particularly for those dealing in multiple currencies.
Is VARIANSE legit or a scam？
VARIANSE is unregulated and unapproved by the FCA, marked as a “Suspicious Clone.” This classification indicates that it may be impersonating a legitimate firm to deceive traders, therefore raises significant red flags regarding its operations.
Market Instruments
VARIANSE provides its traders with a diversified portfolio of market instruments across several asset classes. The offerings include:
Cryptocurrencies: Trading options for major cryptocurrencies like Bitcoin, Ethereum, USD Coin, and 20 others including Avalanche, EOS, and Litecoin. The platform boasts competitive spreads and low commissions, even offering $0 spreads for BTCUSD trades.
Forex: A selection of 44 currency pairs, encompassing popular majors such as EURGBP, EURUSD, USDJPY, other majors like CADJPY, EURCAD, AUDUSD, and exotic pairs like NZDCHF and GBPSGD. VARIANSE promises direct interbank pricing through its low-latency networks.
Metals: Direct trading on interbank pricing for metals, specifically gold and silver.
Energy: Includes options to trade UK Oil and US Oil directly on interbank pricing.
Indices: Provides access to 10 major stock market indices from various countries and regions, leveraging direct interbank pricing.
Equities: Offers trading on 121 equities, including US equities, through direct interbank pricing.
Account Types
VARIANSE offers three primary types of accounts, each created to appeal to the different needs and strategies of traders: Classic, ECNpro, and Prime. In addition to these accounts, a Free Demo account is available for those looking to practice their trading strategies without financial risk.
Classic Account:
Minimum Deposit: $500
Spreads: From 1 pip for Forex/Metals
Commission: $0 for Forex/Metals; CFD trading includes Oil at $0 commission, Indices at $0.5 per lot per side, Equities at 0.1%, and Crypto at 0.07%.
Leverage: Up to 1:500
Features: Suitable for retail traders, offering straightforward market access without commissions on trades.
ECNpro Account:
Minimum Deposit: $5,000
Spreads: From 0 pips for Forex/Metals
Commission: $3.50 per lot per side for Forex/Metals; CFD trading includes Oil at $0 commission, Indices at $0.5 per lot per side, Equities at 0.1%, and Crypto at 0.07%.
Leverage: Up to 1:500
Features: Created for experienced traders, this account provides a commission-based structure, appealing to those seeking tighter spreads and more competitive trading conditions.
Prime Account:
Minimum Deposit: $50,000
Spreads: From 0 pips for Forex/Metals
Commission: Negotiable for Forex/Metals; CFD trading includes Oil at $0 commission, Indices at $0.5 per lot per side, Equities at 0.1%, and Crypto at 0.07%.
Leverage: Negotiable
Features: Tailored for institutional clients, offering negotiable terms to accommodate specific trading strategies and volumes.
How to Open an Account with VARIANSE
At VARIANSE, the account opening process is streamlined for efficiency. Begin by clicking the registration link or the REGISTRATION button on the website. Enter your contact details in the signup form and click SIGN UP. Check your inbox for an email with registration details and a “Client portal” link. Complete your application by providing necessary details and documentation. The account opening aims to be completed within 24 hours, with your account status updated in the client portal. Once done, you'll receive login details for your live account via email.
Leverage
VARIANSE offers leverage up to 1:500 for Classic and ECNpro accounts, providing an opportunity for enhanced market exposure with a limited initial investment. For Prime accounts, leverage terms are customizable, appealing to the demands of high-volume traders.
Spreads & Commissions
Crypto trading highlights include spreads from $0, showcasing their market competitiveness, especially for leading cryptocurrencies. In forex, they offer interbank pricing with spreads from 1 pip in Classic accounts and 0 pips in ECNpro and Prime accounts, appealing to various trader needs.
The commission structure varies by account, with forex and metals trading being commission-free for Classic accounts, whereas ECNpro accounts incur a $3.50 per lot per side commission, and Prime accounts have negotiable rates. For CFDs across oil, indices, equities, and cryptocurrencies, commissions are tailored to maintain affordability and transparency in trading costs.
Other Fees
VARIANSE showcases its commitment to customer flexibility and fairness by not charging inactivity fees, allowing traders to operate without the pressure of additional costs during inactive periods.
Trading Platform
VARIANSE offers a dual-platform strategy, featuring cTrader and MetaTrader 4 (MT4), to serve its broad user base. cTrader is lauded for its transparency, speedy STP execution, and comprehensive features like Level 2 pricing, extensive copy trading options, and advanced charting tools, available across all major devices. It underlines VARIANSE's ambition to be the preferred cTrader broker by providing an advanced trading environment.
MT4 complements this by appealing to the well-established needs of the forex trading community with its powerful analytical tools, customization capabilities, and automation support through Expert Advisors (EAs). VARIANSE enhances the MT4 offering with features like one-click trading and custom indicator development, alongside full functionality across devices, illustrating its dedication to facilitating a high-caliber, adaptable trading experience for every trader profile.
Deposit & Withdrawal
VARIANSE provides a straightforward and varied array of deposit and withdrawal mechanisms.
Deposit Facilities and Charges: The brokerage supports deposits through Bank Wire, Credit/Debit Cards, Cryptocurrencies, and E-wallets. Bank transfers incur no fees, whereas credit/debit cards have a 1.5% fee, cryptocurrencies a 1% fee, and e-wallets a 3.9% charge. Notably, there is no cap on daily deposits, offering significant flexibility.
Withdrawal Procedures and Fees: A minimum of 100 in currency units is stipulated for withdrawals. Primarily, withdrawals are executed via bank wire, with the potential for credit card or e-wallet returns based on the initial deposit method. Withdrawals aim for same-day processing, with funds typically received within 1 to 3 days. Currency conversions incur a fee of mid FX spot rate ±2%, applicable to all transfers.
Customer Support
Customer support is accessible between 9:00 AM and 6:00 PM (GMT), from Monday through Friday.
Phone: +44 (0) 203 475 2285
Email: support@varianse.co.uk
Address: 20 North Audley Street, Mayfair, London, W1K 6LX, United Kingdom
Online live chat available
Educational Resources
VARIANSE provides a rich FOREX EDUCATION section, elevating traders' proficiency and strategic acumen.
It includes Strategy Articles with actionable insights on utilizing advanced tools like the Commitments of Traders Report and Renko Charts.
Product Reviews spotlight platforms such as cTrader, underscoring their transformative features for traders.
The Broker Knowledge area explores key trading concepts, offering a comparative lens on crypto CFDs and spread betting, alongside elucidating Forex's Straight-Through Processing.
Further enriching this educational offering are Economics & Markets analyses, focusing on investment opportunities in markets like China through the FTSE China A50.
The segment dedicated to Risk Management, along with Book Reviews and Interviews, addresses the criticality of risk mitigation, provides reviews on seminal trading literature, and features interviews that delve into sophisticated trading strategies and market insights.
Conclusion
Since its inception in 2015, VARIANSE, trading in the UK, offers a broad spectrum of trading assets, including an extensive range from cryptocurrencies to equities, coupled with competitive trading conditions like leverage up to 1:500 and minimal spreads. Despite its engaging offerings and educational support, VARIANSE's unregulated status, underscored by an FCA warning as a “Suspicious Clone,” significantly undermines its credibility. While the broker seeks to accommodate traders with its customer support and varied banking options, the stark lack of regulatory oversight poses a major risk.
FAQs
Q: Is VARIANSE regulated？
A: No, VARIANSE lacks regulatory accreditation and is noted as a “Suspicious Clone” by the FCA.
Q: What trading options are available at VARIANSE？
A: VARIANSE offers a various array of trading options including cryptocurrencies, forex, and more.
Q: What leverage can traders expect at VARIANSE？
A: Traders at VARIANSE can access leverage up to 1:500.
Q: Are educational materials provided by VARIANSE？
A: Yes, VARIANSE provides extensive educational resources for traders.
Q: What's the initial deposit for VARIANSE？
A: The initial deposit required by VARIANSE is not detailed in the document.
Q: Are there inactivity fees at VARIANSE？
A: VARIANSE assures clients that it does not impose inactivity fees, offering a more flexible approach for traders not actively engaging in trading activities.
Risk Warning
Online trading poses substantial risks, with the potential for complete loss of invested capital, rendering it unsuitable for all traders. It is imperative to comprehend the inherent risks and acknowledge that the information provided in this review is subject to change due to continuous updates in the company's services and policies.
Additionally, the review's generation date is a critical consideration, as information may have evolved since then. Readers are strongly advised to verify updated details directly with the company before making any decisions, as the responsibility for utilizing the information herein rests solely with the reader.
2024-03-14 16:57
2023-02-17 15:48
