General Terms and Conditions for Trading with Financial Instruments of Varchev Finance EOOD
The general conditions for deals with financial instruments of Varchev Finance Ltd. are applicable to all contracts with clients. Terms
A policy of executing client orders in the best interests of the client
In connection with the provisions of the Markets in Financial Instruments Act (MFIA) and Ordinance No.38 of the Financial Supervision Commission on the Requirements to the Activity of Investment Intermediaries, Varchev Finance provides a policy for the execution of client orders in transactions with financial instruments. It applies to both retail and professional clients.
Customer Guidance on the Markets in Financial Instruments Directive
This guide is for you if you have invested or plan to invest in financial products. It explains the basic provisions of a new act of European legislation called the MiFID and how it affects you when dealing with investment firms that provide investment services in Europe.
Criteria for customer classification
The classification is made:
- In the initial establishment of relations with the client;
- For clients with whom we already have relationships, but we have not classified them.
- All clients that we have not explicitly defined as NSA or professional are considered to be otherwise unprofessional and treated as such. There is no special determination procedure for them.
- If the client meets the requirements of item I or item III from the criteria – the client is only notified that he or she is designated as a PNS or professional client. This happens with the following Notification. Download
- If the client meets the requirements of item II from the criteria – The client receives a notification but must also fill out an application. Download
Customers are divided into three types: Acceptable Counterpart (NSA), professional and non-professional. The determination is made once according to customer classification criteria. Download
As the law provides for the possibility for the client to be assigned differently, for the different services, which Varchev Finance EOOD offers, the notification is made taking into account this possibility. If the customer is designated as PNS / professional for certain services – they are listed explicitly. If set for all services – Only the "all services and services provided by an intermediary" for the relevant category are marked.
Appropriate service evaluation
Varchev Finance makes an initial assessment whether the provided service is suitable for the client before proceeding to sign the contracts.
Criteria for determining the appropriate service for the customer:
- The assessment is made on the basis of the information received by the client on a questionnaire. Download
- On the basis of the information received, the person who represents the intermediary determines whether the service offered is appropriate for the particular client. For this purpose, he uses the accepted criteria by the intermediary. Download
Investor Compensation Fund
The Bulgarian legislation provides for the protection of investors in financial instruments that have a relationship with an investment intermediary (IP) in cases where the investment intermediary has financial problems. The Investor Compensation Fund pays compensation to those who, by definition, have the right to compensation and in the cases provided for by legislation: Download
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.