VarinFX is a forex broker founded in Saint Vincent and the Grenadines, mainly providing investors with foreign exchange, futures, stocks, indices trading services, the company's official website supports English, Kurdish, Arabic as the language of use. The VarinFX account registration page is also available in English, Kurdish and Arabic.
Company background:
The website of VarinFX shows that the company is registered in Saint Vincent and the Grenadines, but the website of the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA) does not find any registration information related to the company. In addition, according to the domain name registration information of the website queried by Whois, the company's official website domain name was registered on October 30, 2018, and the domain name registration time has been more than 5 years ago.
Account Registration:
According to VarinFX's official website, the company provides investors with registration links for real accounts and demo accounts. To register a Real Account, click "Open a Real Account" on the left side of the homepage of VarinFX's official website to enter the account registration page, select or fill in the account type, margin (leverage) ratio, name, telephone number, Email address, account currency, and upload the identity document to complete the registration of the real account. The VarinFX account registration page is available in English, Kurdish and Arabic. However, the demo account registration link provided on the VarinFX website is not working.
Account Type:
According to VarinFX's website, the company offers investors three types of trading accounts: Standard, Professional and Premiere. In addition, the VarinFX website also provides the differences between the three types of accounts in terms of minimum deposits, spreads, commissions, etc. However, the VarinFX website does not provide the difference in margin (leverage) ratio between the three accounts.
Trading Products:
According to VarinFX's official website, the company provides investors with foreign exchange, futures, stocks, indexes trading services. In addition, although the VarinFX official website provides specific trading products covered by foreign exchange, futures, stocks, and indexes, the VarinFX official website does not provide information on commissions, spreads, minimum trading units, maximum trading units, and overnight interest of specific trading products.
Margin ratio:
The VarinFX website does not provide margin (leverage) ratio information for specific trading products covered by forex, futures, stocks and indices under different account types.
Trading Hours:
The VarinFX website does not provide information on the trading hours of specific trading products covered by Forex, futures, stocks and indices.
Deposits and Withdrawals:
The VarinFX website does not provide information on the channels and methods of deposit and withdrawal supported by Varinfx, nor does it provide information on the currencies it supports, as well as the fees and times of deposit and withdrawal.
Trading Software:
According to VarinFX's website, the company offers investors MetaTrader5 (MT5) trading software. MT5 software from VarinFX is available for PC (Winodws/MacOS), Web and mobile (IOS/Android). However, the Android version of MT5 software in some countries or regions, there are problems that can not be downloaded or downloaded installation speed is slow.
Regulatory information:
The VarinFX website does not provide regulatory or licensing information it has obtained. The Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA), the regulatory body where the company is registered, does not regulate, monitor, authorize or license commercial companies (BCS) engaged in forex trading or broking.
Summary:
VarinFX is suspected of fraud. On the one hand, VarinFX shows that it was founded in Saint Vincent and the Grenadines, but the website of the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA) does not find any registration information related to the company. On the other hand, the VarinFX website does not provide the regulatory or authorization information it has obtained, and the VarinFX website shows that the regulatory authority of the company's domicile-the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA) does not regulate, monitor, authorize or license commercial companies (BCS) engaged in forex trading or broking. Judging from this, VarinFX is suspected of fraud, and investors should be careful about the services provided by the company. TraderKnows reminds you, please pay attention to your property safety, to avoid falling into the fraud trap.
