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Varchev Financial Services, a Bulgarian broker, provides access to a wide range of trading instruments - currency pairs, cryptocurrencies, indices, CFDs, oil and gas, binary options, as well as gold and silver. The company, which has been operating in the market since 1992, has several licenses. The FCA registration enables the broker to offer its services in the UK. Thanks to the MiFID directive, clients from the European Union have access to Varchev Financial Services’ services.
The official website is in English and Bulgarian. The company's offices are located in Burgas, Sofia, London, and Varna.
Trading conditions
The broker offers one account type. Trading conditions change depending on the selected trading instruments. At the same time, the company sets no limit to the minimum deposit. You can start trading with any amount in your trading account. Varchev Financial Services does not charge any commission and offers floating spreads from 0 to 4 pips.
The broker's website features the Training section where you can refer to some basic information on forex trading. We did not find analytical reviews and news on financial markets. On the other hand, the company provides its clients with several profitable bonus programs: a bonus for opening an account, cashback, and affiliate rewards.
Besides, beginners have the opportunity to use a demo account and start trading with the help of virtual funds.
Trading platforms
Varchev Financial Services offers three platforms for online trading: MetaTrader 4, MetaTrader 5, and the company's own software - XStation XTB.
Support service
The support section contains a feedback form in which you can complain about some problem. Besides, you can contact a specialist by phone or email, through a live chat or links on social media. We did not find any information on working hours of the customer service.
Deposit and withdrawal of funds
Traders can deposit and withdraw profits in the following ways: Visa and MasterCard credit cards, bank transfers, Neteller, Skrill, uKash, GiroPay, Itau, ePay, and PayPal electronic payment systems.
Feedback from traders
There are both positive and negative reviews of the broker’s activity on the web. The most frequent complaints are about disruptions to the trading platform, slippage, and high spreads.
Advantages and disadvantages
Varchev Financial Services’ advantages:
- regulated broker
- unlimited initial deposit
- wide choice of trading instruments
- demo account available
Disadvantages:
- no economic calendar, up-to-date news, etc.
Conclusion
Thus, the biggest disadvantage of the broker is its website which is available only in two languages, although this is not an obstacle for all traders. In general, the company offers very favorable trading conditions, supports a standard set of payment systems, and allows clients to conduct trading through popular trading platforms. In addition, Varchev Financial Services is a regulated and licensed broker.
