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Varchev Finance logo

Varchev Finance

Regulated
Bulgaria
,
Last Updated:

Trading Conditions

Min Deposit:
N/A
Max Leverage:
500
Account Types
Real AccountProfessional Client

User Reviews

—
Total Reviews
—
This Month
—
Avg Rating

Funding Methods

8 methods

Bank transfer

bank transfer
2 days
Fee:
Free
Fee:
Free

Credit or debit cards (Visa, Mastercard, Maestro)

credit card
Instant
Fee:
Free
Fee:
Free

PayPal

e wallet
Instant
Fee:
Free
Fee:
Free

Epay

e wallet
Instant
Fee:
Free
Fee:
Free

Skrill

e wallet
Instant
Fee:
Free
Fee:
Free

Neteller

e wallet
Instant
Fee:
Free
Fee:
Free

Bitcoin

crypto
Instant
Fee:
Free
Fee:
Free

Cash at the Sofia and Varna offices

other
Instant
Fee:
Free
Fee:
0.4%

Performance Metrics

Excellent Performance
Performance chart: 1: Regulation 17%, 2: License 42%, 3: Software 51%, 4: Spread 0%, 5: Account Type 24%, 6: Symbol 0%
Regulation
17%Poor
License
42%Poor
Software
51%Fair
Spread
0%Poor
Account Type
24%Poor
Symbol
0%Poor

Regulatory Licenses

Regulatory Licenses:
Tier 3
Bulgaria flag
Dealing in securities
Offshore
FSC | Bulgaria

Company Information

Full Name:Varchev Finance Ltd
Founded:N/A
Headquarters:Bulgaria
Enterprise Offices:4offices

Customer Support

Phone:
+359 700 17 600
Live Chat:
business_hours
Response Time:
—
Languages:
BulgarianEnglish
Scroll Down

What Varchev Finance legally published, but does not want you to read

Wikilix contract reading ·

High contract risk

Varchev Finance is genuinely regulated in Bulgaria, and its Varchev Funded programme sells accounts of up to <strong>$1,000,000</strong> in "real capital" while the same page's own terms say every account, balance and result in the programme is simulated. Retail clients pay 0.5% a year on the cash sitting in their account, charged monthly, and professional clients pay nothing. You get three days to object to a change in the trading rules, or they bind you. A bonus needs 10 standard lots traded for every $1 before you can withdraw it.

14Critical clauses
36Clauses flagged
59Documents read
7.5/10Contract risk
Read the full terms report32 more clauses, each with its wording, clause number and source
Editorial review
Updated

Broker Summary

What Wikilix has recorded about Varchev Finance: its history, the licences it holds, its trading conditions and its fees.

Varchev Finance Broker Overview

Varchev Finance is a Bulgarian broker operated by VARCHEV FINANS EOOD, an investment intermediary registered in Varna under company number 103775285 and owned and managed by its founder, Biser Varchev. The company's file in the Bulgarian Commercial Register dates from 2002, and the firm trades under the Varchev Finance name in Bulgaria and the wider European market. Clients trade forex, indices, shares, commodities, ETFs and cryptocurrency CFDs on MetaTrader 5, MetaTrader 4 or the in-house Varchev Absolute Trader, at market spreads and with no commission on MT5 CFDs. No minimum deposit is required to complete account opening, while the trading-conditions page states a minimum of 200 USD, EUR or GBP for a new account.

Varchev Finance Regulation and License

VARCHEV FINANS EOOD appears on the register of investment intermediaries published by Bulgaria's Financial Supervision Commission, the country's statutory financial regulator. The entry was confirmed on the Commission's own list of investment intermediaries, identified by the unified identification code 103775285 and the varchev.com website printed beside it, and it sits among the firms the Commission authorises itself rather than among branches operating in Bulgaria under another member state's authorisation. That list prints no licence number, no status column and no dates, so the number the broker publishes on its own site, in its client agreement and in its tariff, RG-03-02-05, is the firm's own statement rather than a figure carried on the register. The authorisation is a full investment intermediary licence under MiFID II, and the scope the broker publishes for it, covering reception and transmission of orders in securities, execution of client orders, dealing on own account, portfolio management, investment advice and underwriting, matches the registered scope of business recorded for the company in the Bulgarian Commercial Register.

Is Varchev Finance Regulated?

Yes. Varchev Finance is operated by a company on the Bulgarian Financial Supervision Commission's published register of investment intermediaries, which makes it a regulated European investment firm rather than an offshore brand. Two limits are worth understanding. The register records that the firm is authorised, not how it conducts itself or how it stands financially on any given day, and the licence number the broker advertises does not appear on the register at all, because the Commission does not print one.

VARCHEV FINANS EOOD and VARCHEV DILING GRUP EOOD

Two companies stand behind the Varchev brand and only one of them is the licensed broker. VARCHEV FINANS EOOD (company number 103775285, capital of 511,300 euro fully paid in, managers Biser Simeonov Varchev and Dimitar Ganchev Kalapov acting jointly) is the investment intermediary that takes trading accounts. VARCHEV DILING GRUP EOOD (company number 103761531) is named in the site footer as the holder of certificate VV-246 of 4 June 2024 in the National Revenue Agency register of virtual-currency exchange providers, and it is the company behind the funded-account programme, whose client portal carries its name. Its registered scope of business does not include investment services, so the investment licence does not extend to anything it offers.

Is Varchev Finance Safe?

The safeguards the broker publishes are the ones a European investment firm is expected to have, and regulation on its own is not proof of safety. The site states that client money is held in bank accounts separate from company funds, that the firm belongs to the Bulgarian Investor Compensation Fund, and that an automated risk system prevents a client balance from falling below the initial deposit. It also carries the disclosure that 63.41 percent of retail investor accounts lose money trading CFDs with the provider. Against that, parts of the site are years out of date: the funds-security page still shows a UK Financial Conduct Authority registration number beside the Bulgarian licence, and no current UK authorisation was found. The Bulgarian authorisation is the operative one.

Varchev Finance Account Types

There is one live account rather than a ladder of tiers. It can be opened on MetaTrader 4, MetaTrader 5 or Varchev Absolute Trader, in USD, EUR, BGN or GBP, in either a netting or a hedging configuration, and a demo account with 100,000 units of virtual money is available. The material distinction is regulatory: a client is categorised as retail by default and may apply on the opening form to be treated as a professional client, which raises the available leverage and reduces the protections that apply. Account opening requires both sides of an identity document, a utility bill or bank statement no older than three months, and a first deposit by bank transfer from an account in the applicant's own name.

Varchev Finance Spreads, Commissions and Fees

Spreads are market-based rather than fixed, and the current site quotes EUR/USD from 0.4 pips and gold from 0.42 USD. There is no commission on forex, index, commodity and cryptocurrency CFDs on MetaTrader 5. Share dealing is charged separately: real delivery of shares costs from 5 USD per trade and 0.03 USD per share, and European shares are charged 0.10 percent with a 5 EUR minimum. Orders on the Bulgarian Stock Exchange placed through an information centre run from 1.8 percent of contract size up to 5,000 BGN down to 1 percent between 25,001 and 50,000 BGN, negotiable above that. Custody of client money at a depository institution costs 0.5 percent a year and is not charged to professional clients, and custody of securities at the Central Depository is 0.1 percent a year. Swap is applied to positions held overnight, tripled from Wednesday to Thursday, and no swap-free account is advertised.

Varchev Finance Leverage

Retail leverage follows the European caps: 1:30 on major forex pairs, 1:20 on non-majors and on major indices and gold, 1:10 on minor indices, commodities and metals, 1:5 on shares and ETFs, and 1:2 on cryptocurrencies. Leverage above those levels is available only to clients categorised as professional, where it starts at 1:500 for balances up to 10,000 USD and steps down to 1:50 above 400,000 USD.

Varchev Finance Trading Platforms

MetaTrader 5 is the platform the broker leads with, on a branded server, with builds for Windows, macOS and Linux, a browser terminal and mobile apps. MetaTrader 4 is still offered for Windows, iPhone and Android, although only an MT5 server is published. Varchev Absolute Trader is the firm's own platform, reached through a browser or the mobile app, and it carries instruments the MetaTrader range does not, including a wider set of emerging-market currency pairs, index futures, ETF CFDs and agricultural commodities.

Varchev Finance Deposits and Withdrawals

Accounts can be funded by card in USD, EUR and GBP, by PayPal, Skrill, ePay or the Neteller gateway, by bank transfer through Raiffeisen, UniCredit, UBB or FIB, and in cash at the Sofia and Varna offices on working days between 09:00 and 18:00. The published tariff charges no commission on cash paid in up to 9,999 BGN or on a transfer into a client's BGN bank account; cash withdrawals up to 9,999 BGN cost 0.40 percent with a 2 BGN minimum. Card payments are charged in Bulgarian lev with a ceiling of 10,000 BGN per payment, and amounts moved through Skrill, ePay, PayPal and Neteller are credited net of the fees those systems charge the company. Withdrawals are always returned to the route the money arrived by, and a bank withdrawal requires a completed and signed request form.

Varchev Finance Support

Support is provided in Bulgarian and English by telephone on +359 700 17 600, by email at info@varchev.com, through live chat on the site, and in person at the Sofia and Varna offices during working hours. The broker states that its chat is staffed by its own dealers and traders rather than by an outsourced desk. There is no 24 hour cover.

Varchev Finance Pros and Cons

Strengths:

  • An authorisation confirmed on the Bulgarian Financial Supervision Commission's own register of investment intermediaries.
  • A named, registry-verified Bulgarian company with a file dating from 2002, identified officers and fully paid-in capital of 511,300 euro.
  • European retail leverage caps, segregated client money, compensation-fund membership and the loss-percentage disclosure are all implemented and published.
  • No commission on MT5 CFDs, market spreads from 0.4 pips on EUR/USD, and no fee on cash deposits or BGN bank transfers.
  • Three platforms, physical offices and support in the client's own language.

Limitations:

  • The licence number the broker advertises is not printed on the regulator's register, which publishes neither numbers nor dates.
  • Parts of the site are stale, including a UK regulatory reference on the funds-security page and performance statistics from 2014 and 2015.
  • Instrument and spread claims differ between the older and the newer pages, and the cryptocurrency table lists four instruments where an older page claims 35.
  • The funded-account programme promoted on the same website belongs to a company that holds no investment licence.
  • Clients who are citizens of the United States or Belgium are not accepted.

Varchev Finance Review and Assessment

Varchev Finance reads as a long-established, owner-run Bulgarian investment intermediary rather than a newly assembled offshore brand, and both the corporate record and the regulator's register support that. The trading proposition is a conventional European one: capped retail leverage, market spreads, no CFD commission, and the option of professional categorisation for anyone who wants more leverage and accepts fewer protections. The two things worth doing before funding an account are reading the tariff, because the cash and custody charging matters more to a small account than the spread, and understanding what professional categorisation gives up, because that is the only route to the leverage the brand advertises.

Website archive
Captured

Website snapshots

8 full-page captures of Varchev Finance's own site, archived so what they said can still be read after the pages change.

8 pages
Homepage
Regulation & FSC Licence
Documents & Policies
About Varchev Finance
Trading Conditions (Forex, MT5)
Deposits & Withdrawals
Contact & Offices
Safety of Client Funds
Captured by Wikilix from the broker's live site. Open any shot to read it full size.
Regulation check
Checked

Regulatory Licenses

Every licence Varchev Finance has in force is from an offshore regulator. Most carry no compensation scheme — each licence's record says what the issuing regulator actually requires.

1 of 1 checked
Licences on record
1
Confirmed on register
1
Tier 1 or 2
0
Offshore
1

WIKILIX

Licence intelligence

The only licence on file

Licence Verification Record

Financial Supervision Commission RG-03-02-05

Wikilix read the FSC register on Oct 10, 2026. This is what it said.

Name on the register
ВАРЧЕВ ФИНАНС ЕООД
Jurisdiction
BulgariaOffshore
Authority strength
Tier 3
Licence type
Dealing in securities
Register status
Active
Effective
Feb 26, 2003
Shown on the Varchev Finance website
Shown

Checked Oct 10, 2026

Permissions

  • Инвестиционни посредници

What our check found

A full investment-intermediary licence issued by Bulgaria's national financial regulator, which makes the firm a MiFID II investment firm: segregated client money, ESMA leverage and marketing restrictions, best-execution and suitability duties, a statutory complaints route and membership of the national investor compensation scheme. Client protection: Real European protection: client funds must be held separately from the firm's own, and the Bulgarian investor compensation scheme pays out up to a statutory cap if the intermediary becomes insolvent. It does not cover trading losses, and the supervisor is smaller than the FCA or BaFin.. Effective: 26 Feb 2003.

Client protection under this licence

  • Compensation schemeDepositors’ Compensation Scheme covers up to £50,000 per individual depositor
  • Negative balance protection
  • Complaints routecomplaints handled by regulated entity or Financial Services Ombudsman
  • Maximum leverage1:30

These are the rules FSC sets for the firms it licenses. They are not a statement about how Varchev Finance applies them, or about which of its companies would hold your account.

A licence record describes what an authority published. It is not an endorsement, and Wikilix does not issue authorisations.

Open the FSC licence recordCheck it on the registerAbout FSC
Trading accounts
Updated

Account Types

2 account types on record. Minimum deposit from USD 200. Leverage up to 1:500.

2 account types
AccountMin DepositLeverageCommission
Real AccountStandardUSD 2001:30No commission on MT5 CFDs; share dealing charged separately
Professional ClientProfessional · VIPNot recorded1:500No commission on MT5 CFDs; depositary custody fee not charged
Account names and conditions as published by Varchev Finance, recorded by Wikilix.
Client acceptance

Country availability

Where Varchev Finance says it will and won't take clients

230 countries

Confirmed blocked

Named in the broker's own terms

BEBelgiumUSUnited States

Explicitly accepted

Named as accepted — not a full list of served markets

BGBulgariaAFAfghanistanALAlbaniaDZAlgeriaASAmerican SamoaADAndorraAOAngolaAIAnguillaAQAntarcticaAGAntigua and BarbudaARArgentinaAMArmenia
Show 216 more
AWArubaAUAustraliaATAustriaAZAzerbaijanBSBahamasBHBahrainBDBangladeshBBBarbadosBYBelarusBZBelizeBJBeninBMBermudaBTBhutanBOBoliviaBABosnia and HerzegovinaBWBotswanaBVBouvet IslandBRBrazilBNBrunei DarussalamBFBurkina FasoBIBurundiKHCambodiaCMCameroonCACanadaCVCabo VerdeKYCayman IslandsCFCentral African RepublicTDChadCLChileCNChinaCXChristmas IslandCCCocos (Keeling) IslandsCOColombiaKMComorosCGCongoCDCongo (Democratic Republic)CKCook IslandsCRCosta RicaCICôte d’IvoireHRCroatiaCUCubaCYCyprusCZCzechiaDKDenmarkDJDjiboutiDMDominicaDODominican RepublicECEcuadorEGEgyptSVEl SalvadorGQEquatorial GuineaEREritreaEEEstoniaETEthiopiaFKFalkland IslandsFOFaroe IslandsFJFijiFIFinlandFRFranceGFFrench GuianaPFFrench PolynesiaGAGabonGMGambiaGEGeorgiaDEGermanyGHGhanaGIGibraltarGRGreeceGLGreenlandGDGrenadaGPGuadeloupeGUGuamGTGuatemalaGNGuineaGWGuinea-BissauGYGuyanaHTHaitiHNHondurasHKHong KongHUHungaryISIcelandINIndiaIDIndonesiaIRIranIQIraqIEIrelandILIsraelITItalyJMJamaicaJPJapanJOJordanKZKazakhstanKEKenyaKIKiribatiKRSouth KoreaKWKuwaitKGKyrgyzstanLALaosLVLatviaLBLebanonLSLesothoLRLiberiaLYLibyaLILiechtensteinLTLithuaniaLULuxembourgMOMacaoMKNorth MacedoniaMGMadagascarMWMalawiMYMalaysiaMVMaldivesMLMaliMTMaltaMHMarshall IslandsMQMartiniqueMRMauritaniaMUMauritiusYTMayotteMXMexicoFMMicronesiaMDMoldovaMCMonacoMNMongoliaMSMontserratMAMoroccoMZMozambiqueMMMyanmarNANamibiaNRNauruNPNepalNLNetherlandsNCNew CaledoniaNZNew ZealandNINicaraguaNENigerNGNigeriaNUNiueNFNorfolk IslandMPNorthern Mariana IslandsNONorwayOMOmanPKPakistanPWPalauPSPalestinePAPanamaPGPapua New GuineaPYParaguayPEPeruPHPhilippinesPNPitcairnPLPolandPTPortugalPRPuerto RicoQAQatarRERéunionRORomaniaRURussiaRWRwandaSHSaint HelenaKNSaint Kitts and NevisLCSaint LuciaPMSaint Pierre and MiquelonVCSaint Vincent and the GrenadinesWSSamoaSMSan MarinoSTSao Tome and PrincipeSASaudi ArabiaSNSenegalSCSeychellesSLSierra LeoneSGSingaporeSKSlovakiaSISloveniaSBSolomon IslandsSOSomaliaZASouth AfricaESSpainLKSri LankaSDSudanSRSurinameSJSvalbard and Jan MayenSZEswatiniSESwedenCHSwitzerlandSYSyriaTWTaiwanTJTajikistanTZTanzaniaTHThailandTLTimor-LesteTGTogoTKTokelauTOTongaTTTrinidad and TobagoTNTunisiaTRTürkiyeTMTurkmenistanTCTurks and Caicos IslandsTVTuvaluUGUgandaUAUkraineAEUnited Arab EmiratesGBUnited KingdomUYUruguayUZUzbekistanVUVanuatuVAHoly SeeVEVenezuelaVNViet NamVGVirgin Islands (British)WFWallis and FutunaEHWestern SaharaYEYemenZMZambiaZWZimbabwe
How we know — 13 sources
  1. 1The online account-opening form at https://www.varchev.com/en/real-account.htm states, in the panel beside its citizenship declaration, that Varchev Finance Ltd can not offer real trading accounts with leverage to American or Belgian Citizens, due to governmental restrictions. US and BE are recorded as confirmed blocks on that wording.
  2. 2The same form carries a declaration checkbox labelled "Mark this box if you are USA or Belgian citizen", which reveals that statement, so the restriction is put to the applicant during onboarding and not merely stated in prose.
  3. 3The country selector on that form is a closed list of 231 jurisdictions rendered in the page's own markup, with no separate country service call behind it. Belgium and the United States are absent from it, and the 228 entries that resolve to a current ISO alpha-2 code are recorded as the whitelist, because the selector is what actually governs who can register.
  4. 4The identical form, with the same 231 entry selector and the same wording, is served at https://site.varchev.com/en/real-account.htm, so the two hosts of the site agree and there was no conflict to resolve.
  5. 5Netherlands Antilles and Serbia and Montenegro appear in the selector but are retired ISO entries with no current alpha-2 code, so they are written to no list. A duplicate spelling of Korea, Republic of is counted once as KR.
  6. 6The selector is an outdated country list. Alongside those retired entries it omits jurisdictions that exist today, among them South Sudan, Serbia, Montenegro, Curacao, Sint Maarten and the United States Virgin Islands. An omission from it is therefore not a policy statement, and no code is written on the strength of one.
  7. 7No dependent-territory extension of the United States block is written, because the same selector explicitly accepts American Samoa, Guam, the Northern Mariana Islands and Puerto Rico.
  8. 8IR is in the whitelist because that selector offers Iran, Islamic Republic of as a selectable country of residence and of birth, and no page on the broker's own domains names Iran as restricted. The broker publishes no Persian language variant: /fa/, /fa-ir/, /ir/ and /farsi/ return 404 on both www.varchev.com and site.varchev.com, and fa.varchev.com does not resolve.
  9. 9The client agreement at https://www.varchev.com/new/invest/docs/en/5__General_terms-EN.doc was read in full and names no restricted jurisdiction, stating only that the company operates on the territory of the Republic of Bulgaria and abroad. The two declarations under the Measures against Money Laundering Act listed at https://www.varchev.com/en/invest-documents.htm, the deposit and withdrawal page at https://www.varchev.com/en/deposit-withdraw.htm, the partner terms at https://www.varchev.com/en/partnership.htm and the privacy policy at https://www.varchev.com/en/privacy-policy.htm likewise name none.
  10. 10The footer disclaimer carried on every page says only that the information is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. It names no country and sets no code. The site publishes English and Bulgarian only.
  11. 11Candidate dedicated-countries paths including /en/restricted-countries.htm, /en/prohibited-countries.htm, /en/accepted-countries.htm, /en/where-we-operate.htm, /en/countries.htm, /en/aml.htm, /en/legal.htm, /en/terms.htm and /en/client-agreement.htm return 404 on both www.varchev.com and site.varchev.com. The FAQ at https://www.varchev.com/en/faq.htm carries two questions and no restriction list, and the documents index at https://www.varchev.com/en/invest-documents.htm lists no countries document. The broker publishes no dedicated countries page.
  12. 12The broker's own documents page links a calendar host on varchevbrokers.com, but the root www.varchevbrokers.com did not respond, so that second domain could not be checked for a country policy. These conclusions rest on the two hosts that did answer.
  13. 13Regulatory filings were not used as a source for this section.
Recorded by WIKILIX research, not published by the broker, and not a guarantee. A country listed nowhere above is not thereby accepted — check Varchev Finance's own terms before you open an account.
Deposits & withdrawals

Funding Methods

8 ways to fund an account. 2 with no deposit fee. 7 credit instantly.

8 methods
MethodDeposit feeWithdrawal feeMin depositWithdrawal min / maxProcessing
Bank transferBank Transfer
Electronic bank transfers are usually credited the same day and within at least 2 working days of the deposit. Client money accounts are held at UniCredit Bulbank, United Bulgarian Bank, Raiffeisen Bank and First Investment Bank, in BGN, USD, EUR and GBP. The tariff charges no commission for a transfer of funds into a client's BGN bank account. Express RINGS transfers are at the client's expense under the bank's own tariff, and transfers in foreign currency follow the servicing banks' tariffs. Interbank charges are borne by the customer. A completed and signed withdrawal request form is required, sent by fax, by email to info@varchev.com or handed in at an office. The first deposit must come by bank transfer from an account in the applicant's own name as part of identity verification.
FreeFreeNot recordedNot recordedNot recorded2 days
Credit or debit cards (Visa, Mastercard, Maestro)Credit Card
The deposit page shows Visa, Mastercard and Maestro in USD, EUR and GBP, and the online card page accepts MasterCard, MasterCard Electronic, Maestro, Visa, Visa Electron and V PAY. All card transactions are charged in Bulgarian lev with a maximum of 10,000 BGN per payment; where the account is not in BGN the amount is converted at the exchange rate of the day. Payments run through United Bulgarian Bank's payment page with Verified by Visa and MasterCard SecureCode authentication. All withdrawals are paid back to the source the funds originally arrived from, so card refunds return to the card used. The tariff does not publish a broker fee for card payments; it states that deposits and withdrawals through payment systems are netted after the fees those systems charge the company.
Not recordedNot recordedNot recordedNot recordedNot recordedInstant
PayPalE-Wallet
The tariff states that funds moved through Skrill, ePay, PayPal, Neteller and similar systems are netted after the fees and commissions those systems charge the company, so the amount credited can be lower than the amount sent. No separate broker fee is published.
Not recordedNot recordedNot recordedNot recordedNot recordedInstant
EpayE-Wallet1Not recordedNot recordedNot recordedNot recordedNot recordedInstant
SkrillE-Wallet1Not recordedNot recordedNot recordedNot recordedNot recordedInstant
NetellerE-Wallet
The deposit page shows the Neteller gateway in USD with giropay, Bitcoin and Itau offered through it. Netted after the payment system's own fees, per the published tariff.
Not recordedNot recordedNot recordedNot recordedNot recordedInstant
BitcoinCryptocurrency
Listed on the deposit page as a Neteller gateway option rather than a direct on-chain deposit address. Withdrawals are returned to the route the money arrived by.
Not recordedNot recordedNot recordedNot recordedNot recordedInstant
Cash at the Sofia and Varna officesOther
The tariff charges no commission on cash paid in up to BGN 9,999 or the equivalent in foreign currency. Cash withdrawals up to BGN 9,999 cost 0.40 percent with a minimum of BGN 2, or a minimum of 2 currency units when paid in foreign currency. A declaration of origin of funds is required. The deposit page gives the cash counters as Sofia, Tzar Samuil street N1 on the corner of Patriarch Euthymius, and Varna, Vladislav Varnenchik boulevard 186, floor 4, office 4.035.
Free0.4%Not recordedNot recordedUSD 9,999Instant

Broker's notes on these methods

  1. Netted after the payment system's own fees, per the published tariff. No separate broker fee is published. · applies to 2 methods
Fees, limits and processing times as published by Varchev Finance, recorded by Wikilix.
Trading software

Trading Platforms

2 trading platforms on record: MetaTrader 5 and MetaTrader 4.

2 platforms
  • MetaTrader 5 logo

    MetaTrader 5

    Recommended

    by MetaQuotes Software Corpsince 2010Developer site

    Branded MT5 build on the Varchev - server, with a browser terminal at site.varchev.com/mt5-web-trader, a Windows installer, and Mac and Linux guides that run the Windows build under Wine. No commission on MT5 instruments and a 0.01 lot minimum.

    Runs on

    • Windows
    • Mac
    • Linux
    • Web
    • Android
    • iOS
    • API
    Download
    Details
  • MetaTrader 4 logo

    MetaTrader 4

    by MetaQuotes Software Corp.since 2005Developer site

    Still published on the platforms page and the FAQ: a Windows installer, Android and iOS apps, and Mac and Linux guides that run the Windows build under Wine. The newer landing site leads with MT5 and Varchev Absolute Trader only.

    Runs on

    • Windows
    • Mac
    • Web
    • Android
    • iOS
    Download
    Details
Platforms and download links as published by the broker, recorded by Wikilix.
Websites

Global Domains

7 domains on record. 4 active.

7 domains
  • Bulgariawww.varchev.comMain siteBulgariaActiveHTTPS
  • Bulgariasite.varchev.comRegionalBulgariaActiveHTTPS
  • Bulgariavat.varchev.comBulgariaActiveHTTPS
  • Bulgariadashboard.varchev.comBulgariaActiveHTTPS
  • vps.varchev.comInactiveHTTPS
  • Bulgariawww.varchevbrokers.comBackupBulgariaInactiveHTTPS
Show 1 more
  • varchevcrypto.comInactiveHTTPS
Domains recorded by Wikilix. Only a domain listed here is known to belong to this broker.
Social channels

Social Presence

6 official channels on record.

6 channels
Channels as published by the broker, recorded by Wikilix.
Legal entities

Corporate Network

4 legal entities behind the Varchev Finance brand.

4 entities
  • VARCHEV FINANS EOOD (Варчев Финанс ЕООД)ActiveBulgariaRegistration 103775285The licensed investment intermediary that operates the trading service. Verified in the Bulgarian Commercial Register: active, capital EUR 511,300 fully paid in, managers Biser Simeonov Varchev and Dimitar Ganchev Kalapov representing jointly, sole owner Biser Simeonov Varchev. The register records the company case as 1854/2002, so the entity's court file dates from 2002; the Commercial Register entry itself was made on 17 August 2008 in the national re-registration. Registered activity is investment services in securities, and the register lists varchev.com as the company web page and backoffice@varchev.com as its email.
  • VARCHEV DILING GRUP EOOD (Варчев Дилинг Груп ЕООД)ActiveBulgariaRegistration 103761531Named in the footer of the broker's own site as the holder of certificate No VV-246 / 04.06.2024 in the National Revenue Agency register of virtual-currency exchange providers, and as the company behind the funded-account programme. Verified in the Bulgarian Commercial Register: active, capital EUR 2,556.46 of which EUR 1,789.52 is paid in, manager and sole owner Biser Simeonov Varchev, company case 1072/2002. Its registered scope of business is financial consulting and training, information and advertising services, trade, intermediation, marketing, leasing and the purchase and sale of foreign currency. It does not carry investment services, so it is not the licensed entity and the investment licence does not extend to it.
  • VARCHEV EXCHANGE OOD (Варчев Ексчейндж ООД)ActiveBulgariaOne of the three companies the broker's own privacy policy names as providing the services offered through www.varchev.com, alongside the investment intermediary and the management company. The policy assigns it the cash-less currency exchange accounts, gives its registered address as Varna 9000, Blvd "Osmi primorski polk" 71, and lists it as a personal-data controller registered with the Commission for Personal Data Protection under No 50113, which is a data-protection registration and neither a company registration number nor any form of financial licence. It is not the entity the site names as the investment intermediary for the trading service, and the broker's own regulation, legal and terms pages publish no company registration number for it.
  • VARCHEV MANAGEMENT COMPANY EAD (Варчев Мениджинг Компани ЕАД)ActiveBulgariaOne of the three companies the broker's own privacy policy names as providing the services offered through www.varchev.com. The policy assigns it subscriptions for units in the Varchev mutual funds, gives its registered address as Varna 9000, Blvd "Vladislav Varnenchik" 186, and lists it as a personal-data controller registered with the Commission for Personal Data Protection under No 50156, which is a data-protection registration and neither a company registration number nor any form of financial licence. The broker's own documents page publishes this company's annual financial statements for 2018 and 2019 and its separate anti-money-laundering rules, naming it as a management company (UD Varchev Managing Company EAD). It is not the entity the site names as the investment intermediary for the trading service, and no company registration number is published for it on those pages.
Entities named in the broker's own documents and company registers, recorded by Wikilix.
Company registry check
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Company Registration

The operating company is ВАРЧЕВ ФИНАНС ЕООД (Varchev Finans EOOD). Registered in Bulgaria. Registration number 103775285.

Verified on registry
Legal entity
ВАРЧЕВ ФИНАНС ЕООД (Varchev Finans EOOD)
Registration number
103775285
Jurisdiction
Bulgaria
Incorporated
Aug 17, 2008
Registry
Bulgarian Commercial Register (Registry Agency), UIC 103775285, court company file 1854/2002
Registered address
ul. Makedonia 52, Varna 9002, Bulgaria
Frequently Asked Questions

Frequently Asked Questions

Common questions about Varchev Finance

Most Popular Questions

Forex, indices, shares, commodities, ETFs and cryptocurrency CFDs. The broker's own conditions tables list 32 currency pairs and four cryptocurrency instruments, and Varchev Absolute Trader carries the widest range of the three platforms, adding emerging-market currency pairs, index futures and ETF CFDs that the MetaTrader builds do not list. Shares are also offered as real delivery rather than only as CFDs, including orders on the Bulgarian Stock Exchange.

No. The funded-account programme is promoted on the same website but sits in a different company, Varchev Diling Grup EOOD, company number 103761531. That company is active in the Bulgarian Commercial Register, but its registered scope of business is consulting, training, marketing and currency exchange, not investment services, so the investment licence held by VARCHEV FINANS EOOD does not extend to it.

It is the broker's own trading platform, available through a browser and as a mobile app, and it is the only one of the three that carries the full instrument range. Its trading-conditions tables add emerging-market currency pairs such as USD/ZAR, USD/MXN and EUR/HUF, index futures, ETF CFDs and agricultural commodities that are not on the MetaTrader servers.

By phone on +359 700 17 600, by email at info@varchev.com, through the live chat on the site, or in person at the Sofia office on Patriarh Evtimii Blvd or the Varna office on Vladislav Varnenchik Blvd. Support is offered in Bulgarian and English during working hours. Note that the registered office recorded in the Commercial Register is now on ul. Makedonia in Varna, which the website has not yet caught up with.

The protections the broker publishes are the ones a European investment firm is expected to have, though none of them removes the risk of losing money on leveraged trading. The site states that client funds are held in bank accounts kept separate from company money, that the firm is a member of the Bulgarian Investor Compensation Fund, and that an automated risk system stops a balance falling below the initial deposit, and the operating company is on the Financial Supervision Commission's register of investment intermediaries. The firm's own disclosure is that 63.41 percent of retail investor accounts lose money trading CFDs with it.

No. The account-opening form states that the firm cannot offer leveraged real trading accounts to American or Belgian citizens because of governmental restrictions, and it carries a declaration box for exactly that. The form's country selector, which is what actually governs registration, lists 231 jurisdictions and omits only the United States and Belgium.

The site says an account is credited immediately once a transfer is confirmed, but it does not publish a withdrawal processing time, so expect normal banking timescales. A bank withdrawal needs a completed and signed request form, sent by fax, emailed to info@varchev.com, or handed in at an office. Money is always returned to the route it arrived by. The tariff charges nothing for a transfer into a client's BGN bank account, and 0.40 percent with a 2 BGN minimum for cash withdrawals up to 9,999 BGN.

By card in USD, EUR or GBP, through PayPal, Skrill, ePay or the Neteller gateway, by bank transfer through Raiffeisen, UniCredit, UBB or FIB, or in cash at the Sofia and Varna offices on working days between 09:00 and 18:00. The first deposit has to arrive by bank transfer from an account in your own name, because that transfer is part of identity verification.

Three. MetaTrader 5 is the one the broker leads with, on its own branded server, with Windows, macOS and Linux builds, a browser terminal and mobile apps. MetaTrader 4 is still listed for Windows, iPhone and Android. Varchev Absolute Trader is the firm's own platform and carries instruments the MetaTrader range does not, including emerging-market currency pairs, index futures, ETF CFDs and agricultural commodities.

There is no commission on forex, index, commodity and cryptocurrency CFDs on MetaTrader 5, and spreads are market-based, with EUR/USD quoted from 0.4 pips. Share dealing is charged separately: real delivery of shares costs from 5 USD per trade and 0.03 USD per share, while European shares are charged 0.10 percent with a 5 EUR minimum. Orders on the Bulgarian Stock Exchange placed through an information centre start at 1.8 percent of contract size up to 5,000 BGN and fall to 1 percent between 25,001 and 50,000 BGN. Custody of client money at a depository institution is 0.5 percent a year and is not charged to professional clients.

Retail clients are capped at the European levels: 1:30 on major currency pairs, 1:20 on non-major pairs and on major indices and gold, 1:10 on minor indices, commodities and metals, 1:5 on shares and ETFs, and 1:2 on cryptocurrencies. Leverage up to 1:500 exists only for clients who ask to be categorised as professional, and it falls by balance to 1:50 above 400,000 USD. Professional categorisation removes retail protections, so it is not simply a higher-leverage upgrade.

The trading-conditions page states a minimum deposit of 200 USD, EUR or GBP, or 400 BGN, when opening a new account. Separately, the account-opening page says the first bank transfer that completes the process has no minimum requirement, because its purpose is to verify the client's identity. Treat 200 USD as the practical starting figure.

Nothing in this research points to a scam. The company behind the brand is real and active in the Bulgarian Commercial Register, more than twenty years old, run by named people at offices in Sofia and Varna, it appears on the Financial Supervision Commission's register of investment intermediaries, and its site implements the European retail-protection rules in detail, including the disclosure that 63.41 percent of retail investor accounts lose money. The honest caveats lie elsewhere: parts of the site are years out of date, including a United Kingdom regulatory reference that reflects no current authorisation, and the funded-account programme promoted on the same website belongs to a separate company that holds no investment licence.

The Bulgarian Commercial Register records Biser Simeonov Varchev as the sole owner of the capital of VARCHEV FINANS EOOD, company number 103775285. He is also a manager, together with Dimitar Ganchev Kalapov, and the two represent the company jointly. Registered capital is 511,300 euro, fully paid in.

Yes. The operating company, VARCHEV FINANS EOOD, appears on the register of investment intermediaries published by Bulgaria's Financial Supervision Commission, identified by the unified identification code 103775285 with the varchev.com website printed beside it. That register prints no licence number, no status column and no dates, so the number the broker publishes itself, RG-03-02-05, is its own statement rather than a figure carried on the register. As a Bulgarian investment intermediary the firm is bound by the MiFID II rules, including the European retail leverage caps.

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