About company

A group of financial market professionals founded the variance in 2015. London is the broker’s headquarters. Variance is owned by VDX Ltd. and operates under a UK Financial Conduct Authority trading license (FCA). Since its inception in 2015, the online brokerage has attracted thousands of retail traders from around the world and has won numerous awards.

Trading platform

The company provides MetaTrader 4 (MT4), one of the most popular Forex intraday trading platforms. MT4 is available for download from the website and offers a data-rich trading environment as well as a variety of market analysis tools.

Over 50 technical indicators, 30 advanced charting tools, and nine-time frames are available in MT4. Additionally, there are customizable indicators, advanced algorithmic trading options, and a large historical database. With its user-friendly design and feature set, MT4 is suitable for both novice and experienced traders.

Products

All clients have access to 45 currency pairs. Classic and ECN Pro account holders can also access CFDs on precious metals, energy, futures, and ten global stock indices.

Custom baskets

Furthermore, the company provides customized settlement baskets and forex indices. These are groups of forex pairs that are individually weighted, resulting in an instrument that is priced and tracked in the same way as a standard forex pair. Forex baskets can help to reduce the risk of losing money due to currency price fluctuations.

(Weighted trade index)

TWI is based on the currencies in the central bank index, with each constituent currency weighted in terms of its impact on the index. TWIs assess a currency’s performance against a group of its major competitors by accounting for the medium-term effects of inflation and exchange rate fluctuations. These indices are calculated for eight major currencies, including the British Pound Sterling, the US Dollar, and the Euro.

Commodity index

The Commodity Index measures the performance of the US dollar against the Australian, Canadian, and New Zealand dollar. The strength of each of these three currencies is heavily reliant on good exports. Combining currencies that are so sensitive to changes in commodity prices opens the door to complex and potentially lucrative trading strategies.

Volatility index

The company computes a currency volatility index, which serves as a benchmark for investors’ expectations of future volatility. The index consists of the nine most liquid crosses, with weights calculated based on each cross’s average daily turnover.

Spreads and commissions

The firm generates revenue through a combination of variable spreads and commissions. Prime and ECN Pro account holders benefit from more liquid markets and competitive spreads on major currency pairs that can go as low as zero.

Classic accounts, on the other hand, have less competitive spreads, starting as low as 1 pip during periods of high liquidity. In comparison to the competition, the average spreads for an ECN Pro account are 0.1 for EUR/USD, 0.6 for GBP/USD, and 0.9 for EUR/GBP.

Commissions for Prime accounts begin at $3 per lot for monthly trading volumes of up to $0.5 billion. ECN Pro accounts are charged $3.50 per lot, while Classic accounts pay no commission at all, with the broker deducting their fee from the spread.

Account inactivity fees are not charged by the firm; however, swap fees apply to positions held overnight. Depending on the instrument, these swap fees can be negative or positive.

Leverage

The European Securities and Markets Authority (ESMA) is the EU regulator that limits retail clients’ leverage to 1:30, protecting traders from excessive risk. Professional traders with Classic or ECN Pro accounts have access to leverage of up to 1:400, whereas Prime account holders only have access to leverage of up to 1:200.

Mobile Trading

The MetaTrader 4 mobile app is available to clients. The app is available for iPhone, Android, and Windows smartphones and tablets, as well as PDAs. The mobile app, which is fully integrated with the desktop platform and enhanced with over 30 indicators, is ideal for trading on the go. You can also set up position and market news alerts so you don’t miss out on opportunities.

Payment Methods

Bank transfers, e-wallets, and Visa or MasterCard payment cards can all be used to fund and deplete accounts. Bank transfers accept pounds sterling, euros, US dollars, Japanese yen, zloty, and Australian dollars, but e-wallets and payment cards only accept pounds sterling, euros, and US dollars. If you deposit between 09:00 and 18:00 GMT, it will be credited to your account the same day.

Withdrawals can be made using the same methods as deposits, but there may be a £5 processing fee for cards and a £30 fee for wire transfers.

Demo account

Variance provides a free demo account for testing trading strategies, platforms, and chart types. Your capital is not at risk because the account is loaded with virtual money.

Regulation and licensing

The firm is operated by VDX Ltd., a company licensed and regulated by the UK Financial Conduct Authority. Traders are also protected by the Financial Services Compensation Scheme (FSCS), which provides clients with up to £50,000 in compensation if their broker is unable to provide services. Furthermore, all client capital is kept separate from the broker’s funds in segregated accounts with Barclays Bank.

Additional features

With a variety of appealing add-ons, the broker offers more than just basic trading services. To begin, all retail customers are protected from negative balances. The company also provides Virtual Private Servers (VPS), which reduce latency and thus open up more market opportunities and profit potential. Lowering latency improves both execution speed and the time it takes to update prices. Cross-connected VPS run functions even faster, with latency as low as 0.4ms.

MetaStock XENITH Monthly Free Trial from the broker offers a high-end market analysis suite. MetaStock XENITH provides retail clients with institutional-level analysis in addition to real-time economic news and data from thousands of journalists, FX heatmaps, and sophisticated indicators and charting methods.

Account Types

In addition to the demo account, Variance provides three live trading accounts, each tailored to a different level of experience and trading volume. Hedging, scalping, automated trading, and client money segregation are all available on all accounts.

Classical

• Professional leverage 1:400
• No free X-connected VPS
• Minimum deposit of $500
• Spreads start from 1 pip
• 100+ tools
• No fees
• Offered CFDs

ECN Pro

• Professional leverage 1:400
• Commission $3.50 per lot
• No free X-connected VPS
• Minimum deposit of $5,000
• Spreads start from 0 pips
• 100+ tools
• Offered CFDs

Basic

• Variable commission depending on trading volume
• Professional leverage 1:200
• Minimum deposit of $50,000
• Spreads start from 0 pips
• Free X-connected VPS
• 60+ tools
• CFDs not offered

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