VARIANSE provides its clients with a choice of three account types: Classic, ECNpro and PRIME. The Classic is tailored at inexperienced traders, as well as such who are not willing to trade in large volumes. The ECNpro account provides direct ECN connectivity and is suitable for both regular and advanced traders, while the PRIME account is designed for high volume trading professionals. FIX API and Free X-connected VPS are available on this account, however no metals are offered for trade. What is more, the commission fee on the PRIME account is negotiable.
VARIANSE is a trading name of Vibhs Financial Limited, a FCA-regulated company specializing in e9trading technology, low latency systems and market data.
The broker offers electronic trading in spot forex, indices, energy products, metals and futures through their comprehensive electronic trading environment, called LatentX. According to VARIANSE`s website, it provides STP Direct Market Access and 0.1 ms execution speed.
Security of Funds
As we have already mentioned, VARIANSE is operated by Vibhs Financial Ltd., a company authorised and regulated by the UK Financial Conduct Authority (FCA).
UK’s financial watchdog applies strict requirements to brokerage firms. They are required to adhere to certain rules and procedures covering client funds, order execution and minimum capital requirement.
Regulated brokers are obliged to hold clients` money separately from their operational funds in segregated accounts, and VARIANSE announces on its website that Segregated Client funds are held in Barclays Bank, London.
Furthermore, FCA-regulated brokers are obliged to hold at least €730 000 in order to prove their financial stability. Regulatory authorities in most jurisdictions set similar minimum capital requirements to providers of financial services. For instance, Cyprus-based brokers are required to possess at least €1,000,000 in order to operate legitimately.
In relation to security of clients` funds, we should point out that all FCA-regulated companies fall under the Financial Services Compensation Scheme (FSCS), which protects consumers up to £50,000 per person. Here you may look up more FCA regulated forex brokers.
Minimum Initial Deposit
VARIANSE requires $500 from its clients in order to open a live account, which is comparatively high initial deposit for the industry. Other FCA-regulated forex brokers demand smaller amounts: HY Markets requires $50, FOREX.com – $250.
Average Spreads & Commissions
There are competitive floating spreads in the broker’s product portfolio, starting from 1 pips on majors for commission-free accounts. The other accounts offer tighter spreads, from 0 pips on EUR/USD in busiest trading hours, and incur a commission fee amounting to $8/$4 per lot (round turn).
In comparison, FxPro offers average spread of 1.4 pips on the EUR/USD for its commission-free accounts and average spreads as low as 0.4 pips on the EUR/USD for its cTrader accounts, charged $4.5 per standard lot.
You may look up real-time spreads of 15 leading brokers here.
The maximum leverage rates VARIANSE offers are comparatively low, amounting to 1:100 (they may be increased to a maximum of 1:200 on special request). In case you need higher leverage, other FCA-regulated brokers provide such: FXCM, for instance, offers leverage up to 1:400 and XM – up to 1:888. More forex brokers offering leverage equal to or exceeding 1:500 can be looked up here.
Traders should keep in mind that higher leverage involves higher risk, not only the chance of earning multiplied profits on a small deposit. It is a double-sided coin.
This broker supports the popular MetaTrader 4, offering a number of technical indicators, extensive back-testing environment and advanced charting package (including trading straight from the charts option). What is more, traders can download ready-made or create their own automated trading strategies, also called Expert Advisors (EAs). EAs allow clients to fully automate their trades and to let the software do all the work.
Here is a list of more forex brokers offering MT4 platform.
Methods of Payment
The following payment methods are available to VARIANSE`s clients: bank wire, Skrill, credit/debit cards and SOFORT, processed by Skrill.
Generally, VARIANSE’s trading conditions may seem attractive to both new traders and experienced ones. The broker is well-regulated and is said to offer lightning fast execution.
VARIANSE Review Conclusion
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