FXCess Forex broker review — Everything you need to know

Varianse is a regulated broker that offers access to derivatives such as FX pairs, stocks, commodities, indices, and cryptos. The broker has three licenses and offers access to MetaTrader 4 and cTrader advanced platforms.

The broker has a high minimum deposit requirement of $500 and charges commissions on deposits, except for wire transfers.

Varianse Overview of the website

Varianse’s website features a clean and professional design layout, providing detailed information on account types, trading markets, and regulatory details. The user interface is simplistic and allows traders to access all important information regarding the broker’s services, which is useful. Traders can find everything, and if they don’t, there is a help center that explains almost all services to beginners, including trading platform tutorials. There are menus and tabs to navigate through the website, and there is a live chat plugin built into the website as well.

Varianse Accounts Reviewed

The broker offers diverse account types for both standard trading and low spreads. There is also a Prime account, which is a VIP trading account offering premium features and services.

Let’s overview each of them briefly and list the main specs below.

Varianse Classic Account

The standard account from Varianse is called the classic account, and it has the following features:

• Minimum deposit – 500 USD
• Commissions – No commissions on FX pairs
• Spreads from – 1 pip
• Trading fees – Indices 0.5 lot per side; Equities 0.1%(min 10 USD); cryptos 0.07%
• Leverage – 1:500
• Suitable for – General trading audience

Varianse ECNPro Account

This account is an ECN account offering 0 pips on major FX pairs like EURUSD, suitable mainly for scalpers. However, the minimum deposit is too high at 5,000 USD.

• Minimum deposit – 5,000 USD
• Commissions – 3.5 USD per side per lot
• Spreads from – 0 pips
• Trading fees – Indices 0.5 lot per side; Equities 0.1%(min 10 USD); cryptos 0.07%
• Leverage – 1:500
• Suitable for – Scalpers

Varianse Prime account

This is the VIP account that offers the following terms:

• Minimum deposit – 50,000 USD
• Commissions – Negotiable
• Spreads from – 0 pips
• Trading fees – Indices 0.5 lot per side; Equities 0.1%(min 10 USD); cryptos 0.07%
• Leverage – Negotiable
• Suitable for – Professional traders

This account requires a 50k USD minimum deposit, making it suitable for professionals with a large budget.

Deposit and withdrawal options at Varianse

Deposits and withdrawals at Varianse support several payment options. Deposits incur fees except for wire transfers, which are externally unattractive. Deposit fees vary from 1% to 3.5%, and traders must be careful when depositing with any payment option except for bank transfers.

The minimum withdrawal amount is 100 USD or equivalent, and is processed via wire transfers, which is not flexible at all.

Making withdrawals difficult and deposits pricey is a serious red flag, which can make this broker very unattractive for traders. Available payment options for deposits are Skrill, Neteller, bank cards (MasterCard and Visa), and wire transfers.

Varianse Assets — What can you trade?

The broker offers access to a diverse set of asset classes, including equities, cryptos, indices, commodities, and Forex pairs. The leverage is up to 1:500, which is more than enough. For traders accessing the broker from the UK, there is only up to 1:20 available as per the FCA regulations. There are 100+ stocks offered from blue chips companies to penny stocks, which is competitive. All other instruments are also around 100.

Trading platforms of Varianse

When it comes to trading platforms, Varianse offers access to advanced cTrader and MetaTrader 4 (MT4) platforms. Both of these platforms offer custom indicators and automated trading systems support (EAs). This is super useful, especially when the broker offers API and VPS services for algorithmic trading. Mobile trading is available as well, via MT5 and cTrader mobile apps, accessible on both Android and iOS devices.

Education at Varianse

The broker offers educational services, including books and articles. The book offered is “Chart Patterns Trading: A Book Review”. Traders can use the search feature to search educational materials and gain knowledge about trading more easily.

Varianse Customer Support

The broker offers almost all customer support modes, such as live chat, phone support, and email channels. Traders can choose between several phone numbers according to their location. The live chat offers the ability to contact the broker right away, which is competitive. There is no multilingual support offered, which is a downside.

Varianse bonuses and promotions

The broker does not offer bonuses or promotions. Varianse seems more focused on professional traders rather than beginners. Its services, such as FIX API and VPS, are more for experienced traders, and the broker even advertises itself as a provider of access to deep liquidity, which is necessary for HFT algorithms.

Is Varianse your broker? Final verdict

In the end, Varianse is a regulated broker offering access to cTrader and MT4, several account types, and a high minimum deposit of 500 USD. Withdrawals are from 100 USD, and deposits have commissions. A wide range of assets is offered, including FX pairs, commodities, indices, equities, and cryptos. The broker is much more suited for experienced traders because of the high deposit requirements and slow withdrawal procedures. Deposits and withdrawals remain a weak point of this broker, which makes it not very attractive for traders.

FAQs on Varianse broker

Where is Varianse based?

The broker is based in the UK, Mauritius, and Malaysia, as it has licenses in these jurisdictions and offers phone support from these countries.

Can you withdraw from Varianse?

Yes, but the broker only allows wire transfers, which is a slow process. The minimum withdrawal amount is 100 USD or equivalent in account based currencies.