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Varna Trade

United States|Within 1 year|
Regulated in United States|Crypto-Licence|Suspicious Scope of Business|United States Common Financial Service License Unauthorized|Suspicious Overrun|Medium potential risk|


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WikiFX Risk Alerts 4
Previous Detection : 2024-02-28
  • United StatesNFA (license number: 0559712) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0559712)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!

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Varna Trade · Company Summary

Varna Trade Basic Information
Company Name Varna Trade
Founded 2011
Headquarters United States
Regulations FCE(Regulated), NFA(Unauthorized)
Tradable Assets Forex, Precious Metals, Crude Oil, Indices, Cryptocurrencies, CFD Contracts
Account Types Comprehensive Account, Finance Account, Financial STP Account
Minimum Deposit Not specified
Maximum Leverage 1:100 to 1:500
Spreads As low as 0 (actual spreads may vary)
Commission Not specified
Deposit Methods Bank wire transfers, popular payment processors
Trading Platforms ST5 Trading Platform
Customer Support Limited: Email (, address at Empire State Building, New York
Education Resources Collaboration with Goldman Sachs, including Analyst View, Adaptive Candle Diagram, Adaptive Trend Indicator
Bonus Offerings None

Overview of Varna Trade

Varna Trade, founded in 2011 and headquartered in the United States, presents itself as a trading platform that offers a diverse range of financial instruments to traders globally. With a focus on providing a comprehensive trading experience, Varna Trade facilitates the trading of various assets, including Forex currency pairs, precious metals like gold and silver, crude oil, global indices such as the Hong Kong Hang Seng Index and the S&P 500, and an array of cryptocurrencies. The platform distinguishes itself by offering a proprietary composite index that simulates real market movements, allowing traders to engage in Contracts for Difference (CFDs) around the clock.

Varna Trade caters to different trading preferences through its multiple account types. The Comprehensive Account is designed for traders seeking an all-encompassing CFD trading experience, while the Finance Account accommodates those interested in a variety of financial instruments, including forex, commodities, and cryptocurrencies. The Financial STP Account focuses on optimizing trade volume conditions for increased efficiency. Traders can utilize leverage options ranging from 1:100 to 1:500, providing them with the flexibility to control larger positions relative to their initial investment.

While Varna Trade collaborates with Goldman Sachs, a renowned analysis agency, to offer educational resources and automated investment analysis tools, concerns about regulatory ambiguity and limited customer support options raise caution among prospective users. Additionally, questions regarding the functionality and security of the ST5 trading platform prompt traders to carefully evaluate the platform's suitability for their trading needs.


Is Varna Trade Legit?

The regulatory status of Varna Trade appears to be ambiguous based on the provided information. On one hand, the Financial Crimes Enforcement Network (FinCEN) indicates that Varna Trade is regulated, holding a Crypto-Licence in the United States with License No. 31000257135387. However, it's important to note that the mention of “regulated” may pertain specifically to anti-money laundering (AML) and counter-terrorism financing (CTF) regulations enforced by FinCEN.


On the other hand, the information from the United States National Futures Association (NFA) suggests an abnormal regulatory status. The NFA license number is provided as 0559712, but it explicitly states that the official regulatory status is unauthorized, indicating a potential discrepancy or lack of alignment in regulatory information.


Traders and investors should exercise caution and conduct thorough research before engaging with Varna Trade, as conflicting regulatory information raises concerns about transparency and regulatory compliance. It is advisable to seek additional details from reliable regulatory authorities and perform due diligence to ensure a secure trading experience.

Pros and Cons

Varna Trade presents traders with a mix of advantages and concerns. On the positive side, the platform offers a diverse array of trading instruments, including Forex, Precious Metals, Crude Oil, Indices, Cryptocurrencies, and CFD Contracts. This variety caters to different trading preferences and strategies. Additionally, Varna Trade provides multiple account types, allowing traders to choose options that align with their specific needs, from comprehensive CFD trading to focused financial instruments. The flexibility in leverage options, ranging from 1:100 to 1:500, caters to a spectrum of risk appetites. Educational resources, including collaboration with Goldman Sachs and tools like Analyst View and Adaptive Trend Indicator, aim to support traders in making informed decisions. However, notable concerns include regulatory ambiguity, limited customer support options, and potential apprehensions about the ST5 trading platform's functionality and security. Prospective traders should carefully evaluate these aspects before engaging with Varna Trade.

Pros Cons
  • Diverse Trading Instruments
  • Regulatory Ambiguity
  • Multiple Account Types
  • Limited Customer Support Options
  • Flexible Leverage Options
  • Concerns About the ST5 Trading Platform
  • Educational Resources Collaboration with Goldman Sachs

Trading Instruments

Varna Trade offers a diverse array of trading instruments, providing traders with the opportunity to engage in a wide range of financial markets. The platform's unique and proprietary composite index simulates real market movements, enhancing the trading experience. Among the available instruments are:

1. Foreign Exchange (Forex):

- Varna Trade offers a comprehensive selection of mainstream foreign exchange currency pairs, including but not limited to EUR/USD, USD/CAD, GBP/USD, and more. Traders can take advantage of the dynamic forex market to speculate on currency price movements.

2. Precious Metals:

- The platform facilitates spot trading in precious metals, with a focus on gold (XAUUSD) and silver (XAGUSD). Traders interested in the precious metals market can utilize Varna Trade to engage in spot trading, benefiting from potential price fluctuations in these valuable commodities.

3. Crude Oil:

- Varna Trade provides the opportunity to trade US crude oil (UsOIL). Traders interested in the energy markets can take positions based on the price movements of this crucial commodity, allowing for exposure to the dynamics of the oil market.

4. Indices:

- Traders can access various global indices through Varna Trade, including the Hong Kong Hang Seng Index (HK50), the German Index (GER30), and the S&P 500 Index (US500). Index trading enables diversification across multiple stocks, providing exposure to broader market trends.

5. Cryptocurrency:

- Varna Trade supports trading in dozens of mainstream digital currency pairs, including Bitcoin (BTC/USD), Ether (ETH/USD), Ripple (XRP/USD), and more. Cryptocurrency trading allows users to participate in the highly dynamic and evolving digital asset market.

6. CFD Contracts:

- Varna Trade allows traders to engage in Contracts for Difference (CFDs) using its proprietary composite index. CFDs enable speculation on price movements without owning the underlying assets, offering flexibility and diverse trading opportunities.

Trading Instruments

Here is a comparison table of trading instruments offered by different brokers:

Broker Forex Metals Crypto CFD Indices Stock ETF Options
Varna Trade Yes Yes Yes Yes Yes Yes No No
RoboForex Yes Yes Yes Yes Yes Yes Yes No
IC Markets Yes Yes Yes Yes Yes Yes No No
Exness Yes Yes Yes Yes Yes Yes No No

Account Types

Varna Trade offers a flexible range of account types to cater to the diverse needs of traders. These accounts are designed to provide unique features and benefits tailored to different trading preferences and strategies.

Comprehensive Account:

- This account type is suitable for traders looking for a comprehensive trading experience. It allows users to trade Contract for Difference (CFD) contracts continuously, utilizing Varna Trade's unique and proprietary composite index that closely simulates real market movements. The Comprehensive Account provides traders with the ability to engage in various markets around the clock.

Finance Account:

The Finance Account is designed for traders interested in a wide range of financial instruments. With this account, traders can participate in the forex market, commodities, and cryptocurrencies. The account accommodates both large transactions (standard) and smaller transactions (micro), providing flexibility in trade sizes. Additionally, traders can utilize high leverage to amplify their trading positions.

Financial STP Account:

The Financial STP Account is characterized by a focus on trade volume. Traders can choose from major and minor currency pairs, and the account is well-suited for those interested in markets where the trade volume of currency pairs with smaller spreads has seen significant growth. This account type aims to optimize trading conditions for increased efficiency in executing trades.

Varna Trade's approach to offering multiple account types allows traders to select an account that aligns with their specific trading goals, risk tolerance, and preferred markets. Whether traders are focused on comprehensive CFD trading, diverse financial instruments, or specific currency pair dynamics, Varna Trade aims to provide a platform that meets their unique requirements.

Account Types

How to Open an Account

To open an account with Varna Trade, follow these steps.

  1. Visit the Varna Trade website. Look for the “Register” button on the homepage and click on it.

  1. Sign up on websites registration page.

  1. Receive your personal account login from an automated email

  2. Log in

  3. Proceed to deposit funds to your account

  4. Download the platform and start trading


Varna Trade offers leverage options in the range of 1:100 to 1:500, providing traders with the ability to amplify their market exposure compared to their initial investment. Leverage, a double-edged sword in trading, allows traders to control larger positions with a relatively smaller amount of capital. While higher leverage can potentially lead to increased profits, it also escalates the level of risk, as losses can be magnified proportionally.

Traders opting for Varna Trade's services should be cautious and thoroughly understand the implications of leverage on their trading strategies and risk management. The offered leverage levels cater to a spectrum of risk appetites, but it is imperative for traders to align their chosen leverage with their individual risk tolerance and trading goals.

It is noteworthy that trading with high leverage involves heightened market exposure and the possibility of significant financial implications. Varna Trade typically emphasizes the importance of responsible and informed use of leverage, urging traders to adopt risk mitigation measures, such as setting stop-loss orders, to safeguard their capital in the dynamic and sometimes volatile financial markets. Prospective traders are encouraged to review the specific leverage terms and conditions provided by Varna Trade before engaging in live trading activities.

Broker Varna Trade Libertex IC Markets RoboForex
Maximum Leverage 1:500 1:30 1:500 1:2000

Spreads and Commissions

Varna Trade outlines its trading conditions, including spreads and commissions, as part of its operational framework. The spread, denoting the difference between buying and selling prices, is emphasized with the possibility of trading spreads reaching as low as 0. This figure serves as a focal point for traders assessing potential costs, although the actual spreads may vary across different financial instruments.

It is crucial for traders to scrutinize the detailed spread information available for various instruments such as foreign exchange pairs, precious metals, crude oil, indices, and cryptocurrencies. The platform endeavors to provide transparency regarding its fee structure, with an acknowledgment of the importance of clear communication on spreads and commissions.

In addition to spreads, traders must be attentive to potential commissions that may be applicable based on specific account types or trading activities. Varna Trade endeavors to present a fee schedule that encapsulates pertinent information, enabling traders to make informed decisions about the associated costs.

Prior to commencing live trading activities, traders are strongly advised to meticulously examine Varna Trade's comprehensive fee schedule. This resource typically includes insights into spreads, commissions, and any additional charges that may be relevant. A thorough understanding of the cost structure is deemed essential for traders to formulate effective financial strategies and prudently manage risks during their trading endeavors.

Spreads and Commissions

Deposit & Withdraw Methods

Varna Trade provides users with various options for depositing and withdrawing funds, aiming to offer flexibility and convenience in financial transactions.

Deposit Methods:

Traders can fund their Varna Trade accounts through several methods, including bank wire transfers and popular payment processors. Bank wire transfers are a traditional and widely accepted method for depositing funds, allowing users to transfer money directly from their bank accounts to their trading accounts. Additionally, Varna Trade may support popular online payment processors, offering alternatives for those who prefer electronic transactions.

Withdrawal Methods:

When it comes to withdrawing funds, Varna Trade typically facilitates withdrawals through the same methods used for deposits. Bank wire transfers are commonly employed for withdrawing funds, providing a straightforward process for transferring money from the trading account to the user's bank. The availability of online payment processors may also extend to withdrawals, streamlining the process for those who initially deposited funds through electronic means.

Trading Platforms

Varna Trade relies on the ST5 trading platform, known for its wide usage but with recognized limitations. The ST5 platform offers basic chart analysis tools, including over 50 technical indicators and intraday analysis tools. Despite claims of safety and reliability, the platform's actual adherence to high-security standards may be questionable, and its functionality might be limited compared to more advanced alternatives. The user interface is described as adequate, targeting traders with varying experience levels.

The ST5 platform, promoted as standard for online trading, emphasizes original spread quotes, high-speed order execution, and claimed high-quality service. However, the overall trading experience provided by Varna Trade may not meet the expectations of traders seeking a truly world-class platform. Traders should approach with caution and explore alternative platforms that offer more advanced features and a superior user experience.

Trading Platforms

Customer Support

Varna Trade's customer support is limited in terms of available information. The provided email address,, serves as the primary contact channel. However, the absence of additional contact options, such as a dedicated customer support phone number, live chat, or an online contact form, raises concerns about the accessibility and responsiveness of their support services.

The company lists an address at the Empire State Building, 350 5th Avenue, New York, NY 10118, United States. While this location suggests a physical presence, it's crucial to note that the mere presence of an address does not guarantee effective customer support. Traders should exercise caution and consider the limited contact options when evaluating Varna Trade's commitment to assisting customers and addressing their concerns. In the absence of a comprehensive customer support framework, users may face challenges in obtaining timely assistance and resolving issues with the platform.

Customer Support

Educational Resources

Varna Trade aims to support its traders with educational resources, collaborating with Goldman Sachs, a globally recognized analysis agency. Through this partnership, Varna Trade offers access to award-winning automated investment analysis and research tools designed to assist traders in making well-informed decisions.

One of the notable features provided by Varna Trade is the Analyst View (AOI), which furnishes traders with insights and perspectives from seasoned analysts. This tool can be valuable for those seeking additional market intelligence and expert opinions to enhance their trading strategies.

Furthermore, Varna Trade introduces the Adaptive Candle Diagram (AC) and the Adaptive Trend Indicator (ADC). These tools are designed to provide visual representations and indicators, aiding traders in analyzing market trends and patterns. The Adaptive Candle Diagram may assist in identifying price movements, while the Adaptive Trend Indicator aims to offer insights into potential trend directions.

While these tools are available to traders, it's essential to note that the effectiveness of any analysis or indicator is subject to market conditions and individual trading preferences. Traders are encouraged to explore and utilize these resources as part of their overall trading strategy, combining them with their understanding of market dynamics and risk management practices. Additionally, traders should stay updated on any educational materials or tools provided by Varna Trade to maximize their trading knowledge and skills.

Educational Resources


In conclusion, Varna Trade presents traders with a mixed landscape of advantages and concerns. On the positive side, the platform stands out for its diverse array of trading instruments, offering opportunities in Forex, Precious Metals, Crude Oil, Indices, Cryptocurrencies, and CFD Contracts. The availability of multiple account types and flexible leverage options adds to its appeal, allowing traders to tailor their approach. Collaborating with Goldman Sachs for educational resources is a notable feature, providing additional tools for analysis. However, substantial disadvantages include regulatory ambiguity, raising concerns about the platform's compliance and transparency. Limited customer support options and potential apprehensions about the ST5 trading platform's functionality and security further contribute to the platform's mixed profile. Traders should weigh these factors carefully and conduct thorough research before deciding to engage with Varna Trade.


Q: Is Varna Trade regulated, and what regulatory authorities oversee its operations?

A: The regulatory status of Varna Trade appears ambiguous, with conflicting information from different sources. While the Financial Crimes Enforcement Network (FinCEN) suggests regulation with a Crypto-Licence in the United States, the National Futures Association (NFA) indicates an abnormal status.

Q: What tradable assets are available on the Varna Trade platform?

A: Varna Trade offers a diverse range of tradable assets, including Forex currency pairs, Precious Metals like gold and silver, Crude Oil, global Indices, various Cryptocurrencies, and Contracts for Difference (CFDs).

Q: What account types does Varna Trade provide, and how do they differ?

A: Varna Trade offers multiple account types, including the Comprehensive Account, Finance Account, and Financial STP Account. These accounts cater to different trading preferences, providing options for comprehensive CFD trading, diverse financial instruments, and optimized trading conditions based on trade volume.

Q: What leverage options are available on Varna Trade, and what considerations should traders be aware of?

A: Varna Trade offers leverage options ranging from 1:100 to 1:500. Traders should be cautious when using leverage, as it amplifies both potential profits and losses. Responsible use, risk management, and understanding the implications of leverage are essential.

Q: Can I withdraw funds from my Varna Trade account using different methods?

A: Varna Trade typically facilitates withdrawals through methods similar to those used for deposits. Common withdrawal methods include bank wire transfers and, potentially, popular online payment processors. Traders should review the platform for specific details on withdrawal options and associated fees.

Broker Information

Company Name

Varna Trade

Company Abbreviation

Varna Trade

Regulatory Status

Domestic Regulation

Platform registered country and region

United States

Phone of the company










Company address
  • 96 WADSWORTH BLVD NUM 127-3255 LAKEWOOD, CO 80226 U.S.A









Customer Service Email Address

Company Summary

User Reviews

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more than one year
I strongly advise against using Varna Trade. When I attempted to withdraw funds through various channels, they obstructed my attempts to access funds from my card. Instead of addressing my concerns, they evaded my questions and posed their own. It seems they are more focused on retaining your funds than helping.
2024-01-16 12:02
more than one year
I've been using Varna Trade for a few months now and I must say, it's been a really solid experience for the most part. Firstly, the trading platform is pretty impressive. It’s intuitive, feature-rich, and I’ve had almost zero downtime during my trading hours. If stability and usability are important to you, Varna definitely delivers in this area. One thing that I particularly appreciate about Varna Trade is their withdrawal process, it’s quick and straightforward. No unnecessary waiting time or hidden extra fees.
2023-12-01 18:14
more than one year
Competitive spreads were another surprise package. When working with the GBP/JPY pair, I noticed their spreads were constrained - talking numbers, typically around 1.3 to 1.7 during peak trading hours. Nice, right? The trading signals from Varna Trade lighted my way on numerous trades. One standout was a bearish move on the AUD/CAD pair, which their signals succeeded in predicting. Quick on my feet (and thanks to swift order execution), I was able to short my position and wasn't that a profit party!
2023-11-30 18:12
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