VARIANSE Review: Not A Particularly Popular Option Among Retailers
Sometimes, you’ll get that uneasy feeling that you just can’t shake even with regulated companies. There’s just something off about this firm, even though their license data mostly checks out… Mostly.
You see, some of the things this broker offers to their clients aren’t exactly clean as a whistle in some jurisdictions. To find out more about the pros and cons of trading on this platform, read our VARIANSE review in full.
|VARIANSE / VDX Derivatives / VDX Capital Ltd/ VDX Ltd
|Type of the company
|Warnings from Financial Regulators
|Phone, email, mail address
|cTrader, MetaTrader 4
|Majority of clients are from
|United Kingdom, Norway, France, India, Japan
|Yes – 24/5
There’s a couple of problems we need to address when speaking of VARIANSE regulation. The varianse.com website notes licenses in a few regulatory jurisdictions, and this information is presented in a transparent way.
The problems arise when trying to verify these claims. One of the three jurisdictions where the company owns a license is an offshore area of Mauritius, and the company information is readily available with the FSC… But no website domain is listed. Remember this, it’s going to become a leitmotif with this firm.
The other reported license is issued by Labuan FSA. Their database is not a stable one, and is prone to malfunctions and bugs that prevent inquiry. Either way, both of these offshore jurisdictions are considered to have loose regulatory oversight, which prompts industry leaders to obtain a license in a Tier-1 framework instead.
Doubts About FCA Authorization
The Tier-1 area VARIANSE broker claims to be regulated is the UK, but there’s a catch. Their mentioned parent company, VDX LTD is indeed regulated by the FCA, yet the listed domain is different – vdx.io and not varianse.com.
This is not the only such discrepancy in the company’s history, however. Their alleged previous owner, VIBHS FINANCIAL LTD, another FCA licensee, was listed with a different domain as well, that being www.vibhsfinancial.co.uk .
VARIANSE Reviews: Popularity Issues
For a company that operates since 2016 and is supposed to be heavily regulated, it is surprising to see so little reviews. Firstly, their Trustpilot page only has several ratings posted and they make for an average grade of 3.7 out of 5.
That doesn’t speak much about the quality of service, but it sure points out the fact that the company is either bad at advertising their services or purposely keeps a low profile for whatever reasons.
Another proof of that is how their claimed profile on Sitejabber looks. The verified company profile on that site hasn’t received a single review, although they’ve been operational for a while now. Here’s another example of how Reddit users react to the mention of VARIANSE Forex dealer.
Trading Platform Advantages
The brand prouds on providing some of the most popular and preferred trading software in the industry:
- MetaTrader 4
VARIANSE cTrader offers fully transparent level 2 pricing, ultra fast execution, variety of strategies to choose from, complex charting options and more. Along with the MetaQuotes universally acclaimed and utilized trading solutions, only cTrader manages to offer enough of a rich and reliable distribution to compare with the industry giants.
Of course, the offer of trading platforms would never be complete without at least one of the famous MetaQuotes terminals. VARIANSE MetaTrader 4 is there to enrich the broker’s palette of trading features.
Although fans of MT5 might argue that the old MT4 is already outdated, it still utilizes an abundance of progressive tools. By that we certainly mean expert advisors, possibility of creating custom indicators and being up to date with market changes.
Financial Instruments on Offer
The broker is quite transparent when it comes to the access to the world markets. The entirety of the products provided is somewhat lacking, however, since there’s just about a little over 200 instruments available.
That’s quite unimpressive, especially compared to the most widely frequented brokerage servers out there. Just for the comparison sake, Plus500 has over 2,800 CFDs alone to grant you access to.
Here’s some of the most popular instruments sorted into most commonly traded asset groups:
- Crypto (BTC, ETH, LTC, XRP)
- Forex (EUR/USD, EUR/GBP, USD/CHF)
- Metals (Silver and Gold)
- Indices (DAX, Nasdaq, Dow Jones)
- Energy (UK Oil, US Oil)
- Equities (AAL.OQ, CTAS.OQ, TSLA.OQ)
VARIANSE Accounts: Distinguishing Features
The feature bundles on this trading portal are a bit pricier than what you can usually see from popular financial services providers.
Other than that, the website presents you with a detailed table showing what exactly each of the accounts has to offer. Naturally, the higher the initial deposit, the more attractive tools and options are unlocked. Here’s the details about each of the prices per account:
- Classic – $500
- ECN pro – $5,000
- Prime – $50,000
Ranking Based on Costs
Some of the pricings present on this site are uniquely affordable, especially the low commission of 3.50 per lot per side for Forex and Metals, 0 on Oil, 0.07% on Crypto and so on. The spreads per each package are variable, and they can start from 1 pips on EUR/USD for the Classic account, while they’re as low as 0 pips for the other two account types.
Now, let’s talk leverage. The highest exposure ratio available depends on the regulatory oversight you fall under. As a UK customer, the highest leverage you can unlock is 1:30 according to the FCA legislation. International clientele, however, can trade under the increased value of up to 1:500.
Funding your account also costs and deposit fees range from 1% for crypto investments up to 3.9% for E-wallet transfers.
Quality Of Education
The provided educational materials are somewhat less comprehensive when compared to industry leading services. These include articles on various topics, such as strategies, product reviews, and broker knowledge base among others.
While they provide good insight for some necessary aspects of trading, the absence of any courses diminishes the overall quality.
The company offers the basic FAQs for their clients as a part of their help center. If the problem proves difficult to solve, there are multiple phone lines, emails and regional addresses. There is also a chat option, but it relies on the email service as it is only available 24/5.
The firm is quite rigorous about transaction costs, since they tend to charge depositing, withdrawing and every transaction, as previously explained. The advantage is that there’s several different transfer channels available for conducting monetary transactions:
- Credit Cards (Visa, Mastercard)
- E-wallets (Skrill and Neteller)
Before requesting a withdrawal, please make sure you have at least 50 currency units available on your account, as that is the minimum amount for payouts.
Why Not Try Funded Trading?
If you’re an advanced trader looking to invest money with a reliable service, give our funded trading program a shot. Our Prop firm account will have you funded with as much as $180,000 in order to give you the additional edge you need to advance your portfolio.
So, if you believe you’ve got what it takes, feel free to book a Zoom meeting through the utility we’ve provided on our website.
What is VARIANSE?
The company is an international brokerage brand with multiple regulations but also a blacklist.
Is VARIANSE a Regulated Forex Broker?
This is a regulated company, but also blacklisted by an offshore financial entity.
Is It Better to Trade With a Broker or a Prop Firm?
There’s pros to both options, however, prop firms offer you funding and a chance to trade with their funds and not your own!