Privacy and Personal Data Protection Policy

1. Administration of Personal Data

The website www.varchev.com offers the services of Varchev Finance EOOD, Varchev Exchange OOD, and Varchev Management Company EAD (VARCHEV FINANCIAL SERVICES), committing to ensure the confidentiality of personal data and non-public information for all users.

Please read the current Privacy and Personal Data Protection Policy (the Policy) to understand how VARCHEV FINANCIAL SERVICES collects, uses, discloses, and protects your non-public information and personal data. Varchev Finance will use the collected non-public information and personal data solely in accordance with this Policy and applicable regulations.

Your personal data is administered by 'Varchev Finance' EOOD with a registered address at: Varna 9000, Blvd "Vladislav Varnenchik" 186, 'Varchev Exchange' OOD with a registered address at: Varna 9000, Blvd "Osmi primorski polk" 71, and 'Varchev Management Company' EAD with a registered address at: Varna 9000, Blvd "Vladislav Varnenchik" 186, which are data administrators registered with the Commission for Personal Data Protection under the respective registration numbers 50112, 50113, and 50156.


2. Information gathering

When a potential client registers an account for trading with Varchev Finance EOOD, a currency trading account with Varchev Exchange OOD, or submits an application to purchase shares in Varchev Mutual Funds/'Varchev Management Company' EAD, certain information will be requested from them. This information includes, but is not limited to, data such as name, personal identification number, address, date and place of birth, phone, and other contact information, passport details, employment information, as well as other necessary financial information. The purpose of collecting this information is to identify the potential client and assess whether the requested service is suitable before entering into a contract.

Periodically, the provision of additional information may be required, which, on the one hand, will help improve the services provided by VARCHEV FINANCIAL SERVICES, and on the other hand, is necessary to fulfill regulatory obligations for data maintenance through which www.varchev.com individualizes the user as its client in terms of current form and scope.


VARCHEV FINANCIAL SERVICES gather information from the following direct sources:

• online application form for opening a trading account with financial instruments;
• online application form for opening a forex trading account;
• online application form for purchasing shares in Varchev Mutual Funds;
• documents for opening a trading account with financial instruments;
• online transactions related to the services offered by VARCHEV FINANCIAL SERVICES;
• Declaration for the purposes of automatic exchange of financial information based on Article 142t, paragraph 1 of the Tax and Social Security Procedure Code (TSSPC);
• Declaration under Article 4, paragraph 7, and under Article 6, paragraph 5, item 3 of the Anti-Money Laundering Act (AMLA);
• correspondence via email and chat, as well as communication by phone to and from VARCHEV FINANCIAL SERVICES;
• website visits to VARCHEV FINANCIAL SERVICES;
• Internet Protocol (IP) address;
• browser type;
• operating system;
• Internet Service Provider - ISP;
• viewed banner advertisements and others.

VARCHEV FINANCIAL SERVICES collects information indirectly through the use of cookies, as outlined below in this Policy.

VARCHEV FINANCIAL SERVICES uses an SSL certificate to encrypt information transmitted to or from the visitor through the website to ensure the security of information transfer.

3. Use of the collected information

Unless the client is informed otherwise, the non-public information and personal data stored and processed by VARCHEV FINANCIAL SERVICES are also used for:

• personalizing your use of the website and catering to your individual needs;
• preventing fraud and money laundering;
• providing tailored advertising content;
• improving the functionality of our website;
• improving your support needs;
• contacting you through email or phone calls;

4. Disclosure of information

VARCHEV FINANCIAL SERVICES does not disclose the collected and stored non-public information and personal data of clients to any unrelated third party or to related parties, unless permitted by applicable law.

Depending on the respective product or service, as well as specific limitations regarding confidential information, personal client data and information may be disclosed to:

• service providers and specialized consultants who, under contract with VARCHEV FINANCIAL SERVICES, perform administrative, financial, legal, investigative, or other services;
• courts and other competent authorities – in accordance with or as prescribed by law;
• any person authorized by the client, as specified by the person themselves or by the agreement.

5. Updating or deleting client data

If the client does not wish VARCHEV FINANCIAL SERVICES to process their personal data, they should inform the company in writing. In this case, VARCHEV FINANCIAL SERVICES may not be able to provide information about the requested services and/or products, and it may not be possible to provide the services and products themselves. Therefore, VARCHEV FINANCIAL SERVICES will not be liable to the client in this regard.

The client must inform VARCHEV FINANCIAL SERVICES promptly if their personal data has changed by sending an email to [email protected].

The client must inform VARCHEV FINANCIAL SERVICES if they want the company to delete their personal data by sending an email to [email protected].

VARCHEV FINANCIAL SERVICES will change or delete the client's personal data according to their instructions, except to the extent, order, and manner in which the company is required to retain them due to regulatory or legal requirements in order to provide the client with the requested services, or because it has provided them to the client in the past and now needs to retain certain information for a regulatory defined period.

6. "Cookies" used by Varchev Financial Services.



__cfduid – cookie for checking consent to the use of cookies

__cfduid – cookie for checking consent to receive push notifications

smg – cookie from salesmanago.com for user initialization

_gat_gtag_UA_53115473_1 – cookie from Google Tag Manager for user initialization

smuuid – cookie from salesmanago.com for user initialization

_ga - cookie from Google Analytics for user initialization

smvr - cookie from salesmanago.com for user initialization

SERVERID - cookie from salesmanago.com for user initialization

_icl_current_language - cookie for saving language preferences

_cc_visited - cookie for checking consent to the terms of use of cookies

PHPSESSID – session initiation cookie

7. Changing "cookie" settings

If you wish to allow or block cookies, you need to follow the instructions of your internet browser, usually found in the 'Help,' 'Tools,' or 'Edit' menus. Most browsers (Internet Explorer, Firefox, Chrome, etc.) are configured to accept cookies. Stored cookies on the hard drive can be deleted, and they can also be blocked entirely. Instructions for major browsers are provided at the following addresses:

• Chrome: https://support.google.com/chrome/answer/95647?hl=it
• Firefox: http://support.mozilla.org/it/kb/Eliminare%20i%20cookie
• Internet Explorer: http://windows.microsoft.com/it-it/internet-explorer/deletemanage-cookies#ie=ie-10
• Opera: http://www.opera.com/help/tutorials/security/privacy/
• Safari: http://support.apple.com/kb/ph11920

As an alternative, an external resource located at www.allaboutcookies.org/manage-cookies can be used, which can provide specific information about cookies and how to manage them according to user preferences. Please note that if you block or disable the receipt of cookies or delete cookies already on your computer, you may not be able to use all the features of the website and trading platforms, and you may not have access to protected parts of the website, such as online accounts.

8. Secure online services

All secure online services to which the user or client subscribes within VARCHEV FINANCIAL SERVICES may use cookies to store user information and preferences and prevent unauthorized access to these services and information. Under such circumstances, cookies usually need to be accepted and allowed in the browser, as without them, VARCHEV FINANCIAL SERVICES cannot guarantee the security of user or client information. Therefore, users who refuse cookies may not be able to use secure online services.

9. Information protection

The client's non-public information and personal data are stored securely and in strict confidence - accessed and used only by employees serving the client's account and employees with control functions.

VARCHEV FINANCIAL SERVICES uses advanced security software to ensure a safe and secure trading environment, as well as to protect the non-public personal, financial, and trading information of clients.

10. Procedure for cancellation

The policy of VARCHEV FINANCIAL SERVICES is not to disclose non-public information about the client to third parties, except in cases defined by regulations.

The client is not obliged to provide any part of their non-public information or personal data that may be requested by VARCHEV FINANCIAL SERVICES.

If the client refuses to provide the requested information or personal data by VARCHEV FINANCIAL SERVICES, this may lead to the impossibility for VARCHEV FINANCIAL SERVICES to open or maintain the client's account for trading with financial instruments or to provide financial services.

11. Changes to the Privacy and Personal Data Protection Policy

All changes to this policy will be promptly published on the website of VARCHEV FINANCIAL SERVICES and will serve as notification to the clients.

12. Client's Consent

By opening a trading account with financial instruments at VARCHEV FINANCIAL SERVICES and/or using the website of VARCHEV FINANCIAL SERVICES, the client of the companies and/or the website user agrees to the collection and use of non-public information and personal data by VARCHEV FINANCIAL SERVICES, as outlined in this Privacy Policy.

13. Applicable law

This Policy is governed by and construed in accordance with the laws of the Republic of Bulgaria, and disputes related to this Policy are resolved between the parties, and in case of impossibility - subject to resolution by the courts of the Republic of Bulgaria.