Varianse Review 2024


2.5 / 5
Varianse is #108 in our CFD broker rankings.

Varianse is an online broker offering unique instruments and powerful analysis tools.

$500
MT4
Forex, CFDs, commodities, futures, custom FX & index baskets
-
Skrill

Forex Trading

Trade on a range of currencies with ultra-low spreads.

Stock Trading

Trade on 10 large stock indices from around the world.

CFD Trading

Leveraged CFD trading is available on FX, indices, and commodities.

Awards

  • Best Broker For Algo Traders, 2017 - Global Brands Magazine
  • Best New Forex & CFD Broker, 2015 - Global Banking & Finance Review
  • Most Innovative New Forex Brand, 2015 - Global Brands Magazine
  • Best New STP Broker, 2014 - Global Banking & Finance Review

Varianse is a licensed, UK-based forex broker providing online, mobile and demo trading. Clients have access to a free MT4 platform download and a variety of charts, indicators and analysis tools. To find out whether to sign up, read our review of Varianse, which covers their offers, deposit methods, features and how to contact their customer service team.

Varianse Overview

Varianse was created in 2015 by a team of financial markets professionals. The broker’s headquarters are in London. Varianse is owned by VDX Ltd., and operates under a trading license from the UK Financial Conduct Authority (FCA). Since 2015, the online brokerage has attracted thousands of retail traders worldwide and picked up multiple awards.

Trading Platform

Varianse offers MetaTrader 4 (MT4), one of the most widely used platforms for forex day trading. MT4 can be downloaded from Varianse’s website and provides a data-rich trading environment alongside a myriad tools for market analysis.

MT4 boasts over 50 technical indicators, 30 advanced charting tools and nine time periods. There are also customisable indicators, advanced algorithmic trading options and an expansive historical database. With its intuitive design and range of features, MT4 is accessible for new traders while also preferred by many experienced traders.

Varianse MT4 platform
Varianse MT4 platform

Products

All Varianse clients can trade on 45 forex pairs. Classic and ECN Pro account holders also get access to CFDs on precious metals, energies, futures, and 10 global stock indices.

Custom Baskets

In addition, Varianse offers custom calculated forex baskets and indices. These are groups of forex pairs, each individually weighted, producing an instrument that is priced and tracked similarly to a regular forex pair. Forex baskets can mitigate the risk of losses from fluctuating currency prices.

Trade Weighted Index

Trade weighted indices (TWIs) are based on the currencies in a central bank’s index, weighting each of the constituent currencies with respect to their influences on the index. TWIs measure the performance of a currency against the group of its major competitors, capturing the medium-term effects of inflation and exchange rate fluctuations. There are eight major currencies for which these indices are calculated, including the Great British Pound, US Dollar and Euro.

Commodity Index

The Varianse commodity index tracks the performance of the US Dollar against the Australian Dollar, Canadian Dollar and New Zealand Dollar. The strength of each of these three currencies largely depends on the export of commodities. Grouping currencies with such high sensitivity to commodity price changes open the door to complex and potentially high-reward trading strategies.

Volatility Index

Varianse calculate a currency volatility index, providing a benchmark of investors’ expectations of future volatility. The index is constructed of the nine most liquid crosses, with weights calculated using the average daily turnover of each cross.

Spreads & Commissions

Varianse makes its money from a combination of variable spreads and commissions. Prime and ECN Pro account holders benefit from more liquid markets and are offered competitive spreads that can be as low as zero on major forex pairs.

Classic accounts, on the other hand, come with less competitive spreads, starting at 1 pip during periods of high liquidity. For reference, average spreads for the ECN Pro account are 0.1 for EUR/USD, 0.6 for GBP/USD and 0.9 for EUR/GBP, which are tight compared to competitors.

Commissions for Prime accounts start at $3 per lot for trade volumes up to $0.5 billion per month. ECN Pro accounts are charged $3.50 per lot and Classic accounts are not charged commissions at all, with the broker taking its fee from the spread.

Varianse does not charge a fee for account inactivity, however, swap fees are implemented for positions that are held overnight. These swap fees can be negative or positive depending on the instrument held.

Leverage

The European Securities and Markets Authority (ESMA) is an EU regulatory agency that limits leverage for retail clients to 1:30, protecting traders from high levels of risk. Professional traders with Classic or ECN Pro accounts benefit from leverage rates up to 1:400, although Prime account holders can only access leverage up to 1:200.

Mobile Trader

Varianse clients can use the MetaTrader 4 mobile application. The Varianse app can be downloaded to iOS, Android and Windows-powered smartphones and tablets as well as pocket PCs. Fully integrated with the desktop platform and complete with over 30 indicators, the Varianse mobile app is perfect for trading on-the-go. There is also the option to set up alerts for positions and market news so opportunities aren’t missed.

Varianse mobile trading
Varianse mobile trading

Payment Methods

Varianse accounts can be funded and emptied with bank transfers, e-wallets and Visa or Mastercard payment cards. The broker does not charge for deposits, however, some banks and payment processors may charge their own fees. Deposits using bank transfers can be made in GBP, EUR, USD, JPY, PLN, and AUD, though e-wallets and payment cards may only use GBP, EUR, and USD. All deposits will reach the account within the same day if made between 09:00 and 18:00 GMT.

Withdrawals can be made using the same methods as deposits, however additional processing fees of £5 for cards and £30 for bank transfers may apply.

Demo Account

Varianse offers a free demo account, allowing exploration of trading strategies, trading platforms and charting types. The account is loaded with virtual money, so there is no risk to your capital.

Deals & Promotions

There are no deposit bonuses, deals, or promotion codes offered by Varianse. However, traders are incentivised with a one-month free trial of MetaStock XENITH, a powerful financial analysis suite with forex calculators, heatmaps, charting tools and economic events worth $150.

Regulation & Licensing

Varianse is run by VDX Ltd., a company that is licensed and regulated by the UK Financial Conduct Authority. Traders are also protected by the Financial Services Compensation Scheme (FSCS), which reimburses clients up to £50,000 if their broker is unable to provide services. Also, all client capital is segregated from the broker’s own money in ring-fenced accounts with Barclays Bank.

Additional Features

Varianse provides more than just a basic trading service, offering a range of attractive extras. Firstly, all retail clients receive negative balance protection. Varianse also offers virtual private servers (VPS), which reduce latency, resulting in a greater range of market opportunities and potential profits. The lower latency works to increase both the speed of executions and the time taken to update prices. Cross-connected VPS are even faster at carrying out functions, with latency speeds reaching less than 0.4ms.

The broker’s one-month free trial of MetaStock XENITH provides a high-end market analysis suite. Complete with real-time economic news and data from thousands of journalists, FX heatmaps, plus sophisticated indicators and charting methods, MetaStock XENITH provides retail clients with institutional-level analysis.

Varianse XENITH
Varianse XENITH

Account Types

Alongside the demo account, there are three live trading accounts offered by Varianse, each designed for a different experience and trading volume levels. All accounts offer hedging, scalping, automated trading, and segregation of client money.

Classic

ECN Pro

Prime

Benefits

Pros of opening an account with Varianse include:

Drawbacks

Despite its advantages, Varianse could improve in the following areas:

Trading Hours

All Varianse instruments are open for trading almost 24/7. The trading hours are 22:05 to 22:00 GMT Sunday through Monday, with a daily trading break from 22:00 to 22:05 GMT and a daily MT4 maintenance break from 04:00 to 04:03 GMT. FIX API connections may follow different maintenance times.

Customer Support

Clients can contact Varianse using the online chat function on the right of the website, though this is only open during trading hours. The customer support team is available between the hours of 9.00 and 18.00 GMT Monday to Friday. The broker is contactable via telephone and email:

Customer reviews of the support available are mostly positive, with representatives able to help with most queries.

Note, Varianse’s registered office address is in London.

Client Security

Varianse uses sophisticated cybersecurity measures to ensure the security of personal data. Server authentication and firewalls are used alongside several data encryption techniques provided by Cisco, including secure sockets layer (SSL) 3.0.

Varianse Verdict

Varianse provides access to some of the industry’s lowest latency times and most advanced analysis tools. With a range of tradeable assets including forex baskets, the broker is a strong combatant in the FX trading arena. However, the lack of tradeable cryptocurrencies and educational resources hold Varianse back. Therefore, we would recommend Varianse to traders with a strong background in trading, and direct newer traders towards other brokers first.

Top 3 Alternatives to Varianse

Compare Varianse with the top 3 similar brokers that accept traders from your location.

  1. Swissquote – Swissquote is a Switzerland-based bank and broker that offers online trading and investing. The company has a high safety score and is listed on the Swiss stock exchange. The firm offers a huge range of products, from stocks, ETFs, bonds and futures to 400+ forex and CFD assets. Hundreds of thousands of traders have opened an account with the multi-regulated brokerage. Clients can get started in three easy steps while 24/7 customer support is available to assist new users.

  2. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

  3. AvaTrade – AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.

Varianse Comparison Table

Compare Varianse With Similar Brokers
Varianse Swissquote IG AvaTrade
Rating 2.5 4 4.4 4.9
Markets Forex, CFDs, commodities, futures, custom FX & index baskets Forex, CFDs, Indices, Stocks, ETFs, Bonds, Options, Futures, Cryptos (location dependent) CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
Demo Account Yes Yes Yes Yes
Minimum Deposit $500 $1000 $0
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Regulators FCA FCA, FINMA, DFSA, SFC FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM
Bonus
Education No No Yes Yes
Platforms MT4 MT4, MT5, AutoChartist, TradingCentral Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
Leverage 1:30 1:30 1:30 (Retail), 1:250 (Pro) 1:30 (Retail) 1:400 (Pro)
Payment Methods 1 5 6 13
Visit Visit Visit Visit Visit
Review Swissquote
Review
IG
Review
AvaTrade
Review

Compare Trading Instruments

Compare the markets and instruments offered by Varianse and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Varianse Trading Instruments
Varianse Swissquote IG AvaTrade
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil No Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No No Yes Yes
Silver No Yes Yes Yes
Corn No No No Yes
Crypto No Yes Yes Yes
Futures Yes Yes Yes Yes
Options No Yes Yes Yes
ETFs No Yes Yes Yes
Bonds No Yes Yes Yes
Warrants No No Yes No
Spreadbetting No No Yes Yes
Volatility Index No No Yes Yes

Varianse vs Other Brokers

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Varianse is an online broker offering unique instruments and powerful analysis tools.

FAQ

What is the minimum deposit required to sign up with Varianse?

For a Classic account, $500 is the minimum deposit. For ECN Pro and Prime accounts, the minimum deposit is $5,000 and $50,000, respectively.

Is Varianse a safe broker?

Varianse is licensed and regulated by the FCA, a rigorous regulator responsible for tens of thousands of financial services companies. Furthermore, all client funds are segregated from the broker’s money and Varianse is a member of the Financial Services Compensation Scheme.

What trading platform does Varianse have?

Varianse offers a free MetaTrader 4  download for all account holders. MT4 is also available on iOS and Android mobile devices.

Does Varianse have a demo account?

Yes, traders can sign up for a free practice account funded with virtual cash to test the platform and trading strategies. Once users are comfortable, they can then open a live trading account.

Can I open a Varianse account in the USA?

No, Varianse is only licensed to operate in the United Kingdom. See our list of brokers for providers that do offer trading services in the US.