The best Forex brokers in the country of Bulgaria, according to our research, are:
- eToro
- Trading 212
- XM
- Markets.com
- HF Markets
- Admirals
- IC Markets
- Interactive Brokers
- IG Markets
- ActivTrades
We have taken several factors into consideration, including:
- The overall quality of the broker
- The regulations of the broker
- BGN account availability
- Bulgarian language availability
- Physical presence in the country
What are the best forex brokers in Bulgaria?
Below is our curated list and review of the best forex brokers for traders living in Bulgaria, with details and information about the country laws, the features, and the characteristics.
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
eToro
Best social trading platform
eToro is authorized by the Bulgarian FSC, accepts USD as base currency, and offers social and copy trading. Bulgarian traders need a minimum deposit of $2000.
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About eToro
eToro is a global multi-asset investment platform founded in 2007, offering trading on stocks, ETFs, Crypto CFDs, commodities, and forex. eToro provides a proprietary web and mobile platform with social trading features. eToro is regulated by multiple authorities including FCA, ASIC, and CySEC. eToro is known for its user-friendly interface, copy trading functionality, and commission-free stock trading. eToro serves over 30 million users worldwide. The eToro CEO and co-founder is Yoni Assia.
eToro Features
The features of eToro are listed below.
- eToro is well-regulated in the EU by CySEC and is authorized by the Bulgarian FSC.
- The Bulgarian language is not available on eToro’s website.
- Bulgarian traders can open an eToro account with a minimum deposit of $2000.
- Bulgarian traders find that USD is the only base currency accepted by eToro. If you use any other currency you will get charged a conversion fee.
- Spreads from 1 pip on 47 forex pairs with a maximum leverage of 1:30 available to retail clients and 1:400 for pro clients.
- eToro in Bulgaria allows clients to engage in social and copy trading via eToro’s platform.
eToro Pros and Cons
Advantages of eToro
The advantages of eToro are listed below.
- Great copy trading and social trading features
- Wide range of asset classes
- It allows to buy fractional stocks from $10
Disadvantages of eToro
The disadvantages of eToro are listed below.
- The eToro spreads can be high
- Offers only USD accounts
- Transferring cryptocurrencies to other platforms can be hard
Trading 212
Great for beginners
Trading 212 is a Bulgarian market maker broker, regulated by the Bulgarian FSC, with an office in Sofia. USD and EUR base currencies are available for Bulgarian traders with a minimum deposit of $10.
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About Trading 212
Trading 212 is a global online broker founded in 2004, offering commission-free trading on stocks, ETFs, forex, and CFDs. Trading 212 provides proprietary web and mobile platforms. Trading 212 is regulated by multiple authorities including FCA, CySEC, and FSC. Trading 212 is known for its user-friendly interface, educational resources, and fractional share investing. Trading 212 serves over 2 million clients worldwide. The Trading 212 CEO is Mukid Chowdhury since 2024.
Trading 212 Features
The features of Trading 212 are listed below.
- Trading 212 is a Bulgarian market maker broker.
- The broker is regulated in the EU by the CySEC and authorized by the Bulgarian FSC under license number RG-03-0237.
- Trading212 has a physical office in Sofia, Bulgaria.
- Bulgarian clients are required by Trading 212 a $10 minimum deposit to open a CFD account.
- Trading212 allows Bulgarian traders to use USD and EUR as base currencies.
- Trading 212 in Bulgaria has spreads starting from 0.8 pips on forex and leverage of 1:30 and 1:300 available as a retail or pro client respectively.
Trading 212 Pros and Cons
Advantages of Trading 212
The advantages of Trading 212 are listed below.
- User-Friendly Interface
- No Commission Trading
- Wide Range of Assets
Disadvantages of Trading 212
The disadvantages of Trading 212 are listed below.
- Limited Research Tools
- High Forex Spreads
- Lack of Advanced Features
XM
Great educational section
XM receives authorization from the Bulgarian FSC and offers accounts starting with a $5 deposit. It does not provide the Bulgarian language.
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About XM
XM is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. XM provides MetaTrader 4, MetaTrader 5, and proprietary platforms. XM is regulated by multiple authorities including CySEC, ASIC, and IFSC. XM is known for competitive spreads, extensive educational resources, and multilingual customer support. XM serves over 5 million clients from 196 countries. XM offers various account types and a no-requote policy.
XM Features
The features of XM are listed below.
- XM is regulated in the EU by CySEC and authorized by the Bulgarian FSC.
- XM does not provide the Bulgarian language on the website.
- Bulgarian clients find a XM minimum deposit of $5.
- XM accounts in Bulgaria can be opened in, among the others, GBP, CHF, PLN, USD or EUR.
- Spreads in Bulgaria at XM start from 0 pips and leverage of 1:30 is available for retail traders.
XM Pros and Cons
Advantages of XM
The advantages of XM are listed below.
- There’s a wide range of account types
- The demo account at XM is unlimited
- Wide range of educational resources
Disadvantages of XM
The disadvantages of XM are listed below.
- No social trading features available
- The account availability changes depending on the location of the trader
- High minimum deposit to invest in securities ($10000 for the XM Shares account)
Markets.com
Best for CFD assets
Markets.com is authorized by the Bulgarian SCF, with an office in Sofia. It requires a $100 minimum deposit but does not accept BGN.
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About Markets.com
Markets.com is a global online broker established in 2008, offering trading on forex, stocks, indices, commodities, and cryptocurrencies through CFDs. Markets.com provides proprietary web and mobile platforms alongside MetaTrader 4 and 5. Markets.com is regulated by multiple authorities including CySEC, FCA, ASIC, FSCA, and FSC. Markets.com is known for its extensive educational resources and AI-powered trading insights. The Markets.com parent company “Finalto Group” CEO is Matthew Maloney.
Markets.com Features
The features of Markets.com are listed below.
- Markets.com is regulated by CySEC in Europe and is authorized by the SCF Bulgarian regulator.
- Markets.com has an office in Sofia, Bulgaria.
- Markets.com in Bulgaria has a $100 minimum deposit requirement.
- Bulgarian clients can choose among several base currencies with Markets.com, with EUR, USD, and GBP being available among the others. BGN is not accepted.
- Spreads in Bulgaria start from 0.6 pips on 50+ forex pairs with a maximum leverage up to 30:1 for retail traders and up to 300:1 for pro traders.
Markets.com Pros and Cons
Advantages of Markets.com
The advantages of Markets.com are listed below.
- High Trust Score
- Wide Range of Trading Platforms
- Comprehensive Educational Resources
Disadvantages of Markets.com
The disadvantages of Markets.com are listed below.
- Above Average Spread Costs
- Limited Payment Options
HF Markets
Wide range of trading accounts
HF Markets is authorized by the Bulgarian FSC, has an office in Sofia, and supports Bulgarian language on the website. Bulgarian clients have access to PLN, EUR, and USD base currencies with zero minimum deposit.
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About HF Markets
HF Markets, formerly known as HotForex, is a global multi-asset broker founded in 2010. HF Markets offers trading on forex, stocks, commodities, indices, and cryptocurrencies through MetaTrader platforms. HF Markets is regulated by multiple authorities including CySEC, FCA, DFSA, and FSCA. HF Markets serves clients worldwide and is known for competitive trading conditions and extensive educational resources. HF Markets recently rebranded to emphasize its expanded product range. The HF Markets Group CEO is George Koumantaris.
HF Markets Features
The features of HF Markets are listed below.
- HF Markets has top regulation in place from CySEC in Europe and it has the authorization from the Bulgarian FSC.
- HF has a physical office in Bulgaria in the city of Sofia.
- The HF website is also available in Bulgarian.
- The HF base currencies Bulgarian clients can open an account with are PLN, EUR and USD.
- The HF minimum deposit requested in Bulgaria starts from $0.
- Bulgarian traders have access to HF spreads from 0 on forex with a maximum leverage up to 30:1 (retail) and 400:1 (professional).
HF Markets Pros and Cons
Advantages of HF Markets
The advantages of HF Markets are listed below.
- High Leverage Options
- Low Minimum Deposit
- Wide Range of Trading Instruments
Disadvantages of HF Markets
The disadvantages of HF Markets are listed below.
- Higher Trading Costs
- Limited Educational Resources
Admirals
Best MetaTrader broker
Admirals is authorized by the Bulgarian FSC and supports the local language. It offers a BGN base currency and requires a $100 minimum deposit in Bulgaria.
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About Admirals
Admirals, formerly Admiral Markets, is a global forex and CFD broker founded in 2001. Admirals offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader platforms. Admirals is regulated by multiple authorities including CySEC and FCA. Admirals is known for competitive spreads and extensive educational resources. Admirals recently halted onboarding of new EU clients to comply with regulatory standards. The co-founder of Admirals and CEO of Admirals Group is Alexander Tsikhilov.
Admirals Features
The features of Admirals are listed below.
- Admirals is well-regulated in the EU by the CySEC and authorized by the Bulgarian FSC.
- Admirals is very accessible to Bulgarian traders with their website also supporting the local language.
- Bulgarians can open an account with a minimum deposit of $100.
- The Admirals base account currencies available in Bulgaria are: BGN, USD, EUR, CHF, GBP and more.
- Spreads at Admirals start from 0 pips with a Zero account and leverage of up to 1:30 or 1:500.
Admirals Pros and Cons
Advantages of Admirals
The advantages of Admirals are listed below.
- Extensive Forex Options
- Strong Regulatory Framework
- Advanced Educational Resources
Disadvantages of Admirals
The disadvantages of Admirals are listed below.
- Charges Inactivity Fee
- Mobile App Limitations
- Higher Average Spreads for Some Assets
IC Markets
Best for algo traders
IC Markets is authorized by the Bulgarian FSC and offers support in Bulgarian. There is no minimum deposit requirement for Bulgarian clients, with USD, EUR, and GBP as base currencies.
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About IC Markets
IC Markets is a global forex and CFD broker founded in 2007 and based in Sydney, Australia. IC Markets offers trading on over 2,250 instruments including currencies, commodities, indices, stocks, and cryptocurrencies. IC Markets provides MetaTrader 4, MetaTrader 5, and cTrader platforms. IC Markets is regulated by multiple authorities including ASIC and CySEC. IC Markets is known for its ECN execution model and low spreads. The IC Markets CEO is Andrew Budzinski.
IC Markets Features
The features of IC Markets are listed below.
- IC Markets has a regulation in place from the CySEC in the EU as well as authorization from the Bulgarian FSC.
- IC Markets website also supports the Bulgarian language.
- Bulgarian clients don’t have a minimum deposit requirement.
- Bulgarian traders find that USD, EUR, GBP are provided as IC Markets base currencies.
- IC Spreads in Bulgaria start from 0 pips on 60 forex pairs with leverage of 1:30 available to retail clients and 1:500 for pro clients.
IC Markets Pros and Cons
Advantages of IC Markets
The advantages of IC Markets are listed below.
- Low-latency trading environment
- Institutional level liquidity
- MT4, MT5, cTrader platforms are all available
Disadvantages of IC Markets
The disadvantages of IC Markets are listed below.
- Small amount of educational tools for new traders
- Small range of tradable assets compared to other CFD/Forex brokers
Interactive Brokers
Best for professional traders
Interactive Brokers receives authorization from the Bulgarian FSC and does not require a minimum deposit. It offers USD, GBP, and EUR as base currencies but does not support Bulgarian language.
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About Interactive Brokers
Interactive Brokers is a global electronic broker founded in 1978, offering trading in stocks, options, futures, forex, bonds, ETFs, and cryptocurrencies across 150 markets in 33 countries. Interactive Brokers provides advanced trading platforms, low commissions, and access to a wide range of financial instruments. Interactive Brokers is known for its sophisticated technology and serves both retail and institutional clients. Interactive Brokers is regulated by multiple top-tier authorities worldwide. The CEO of the Interactive Brokers Group is Milan Galik.
Interactive Brokers Features
The features of Interactive Brokers are listed below.
- Interactive Brokers has respected regulation in place in the EU from the Central Bank of Hungary and the Central Bank of Ireland in addition to being authorized by the Bulgarian FSC.
- Saxo Bank doesn’t allow clients to choose the Bulgarian language on its website.
- Bulgarians don’t need to adhere to a minimum deposit when opening an IBKR account.
- Interactive Brokers accepts, among the others, USD, GBP, EUR, PLN, and CZK as base currencies in Bulgaria.
- Spreads at Interactive Brokers in Bulgaria start from 0.1 pips on 100 forex pairs and max. leverage of up to 1:30 for retail traders, and 1:400 for pro traders.
Interactive Brokers Pros and Cons
Advantages of Interactive Brokers
The advantages of Interactive Brokers are listed below.
- Low Trading Fees
- Advanced Trading Tools
- Wide Market Access
Disadvantages of Interactive Brokers
The disadvantages of Interactive Brokers are listed below.
- Not user-friendly
- No MetaTrader Support
- Additional Fees
IG Markets
Wide range of markets
IG Markets is authorized by the Bulgarian FSC but does not support Bulgarian language. It requires a $300 minimum deposit and offers USD and EUR as base currencies.
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About IG Markets
IG Markets is a global online trading provider founded in 1974, offering access to over 17,000 financial markets including forex, stocks, indices, commodities, and cryptocurrencies. IG Markets provides proprietary trading platforms alongside MetaTrader 4 and ProRealTime. IG Markets is regulated by multiple top-tier authorities worldwide, including the FCA and ASIC. IG Markets is known for competitive spreads, extensive educational resources, and innovative features like weekend trading. The IG Markets’ parent company “IG Group” CEO is Breon Corcoran.
IG Markets Features
The features of IG Markets are listed below.
- IG Markets is regulated in the EU by BaFin along with being authorized by the Bulgarian FSC.
- The Bulgarian language is not an option as one of the languages on the IG’s website.
- The IG minimum deposit requested in Bulgaria is $300.
- IG accepts USD and EUR account base currencies in Bulgaria.
- Bulgarians find spreads starting from 0.6 pips on 80+ forex pairs with a max. leverage up to 30:1 (retail) and up to 222:1 (professional).
IG Markets Pros and Cons
Advantages of IG Markets
The advantages of IG Markets are listed below.
- Low spreads from 0.6 pips on Forex
- Wide range of financial instruments
- 40 years of experience in the Forex industry
Disadvantages of IG Markets
The disadvantages of IG Markets are listed below.
- No copy trading features
- No social trading features
ActivTrades
Great trading tools
ActivTrades is authorized by the Bulgarian FSC, supports Bulgarian language, and has an office in Sofia. It requires a $500 minimum deposit and does not accept BGN.
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About ActivTrades
ActivTrades is a global online broker founded in 2001, offering trading on forex, CFDs, indices, shares, commodities, and ETFs. ActivTrades provides MetaTrader platforms and its proprietary ActivTrader platform. ActivTrades is regulated by multiple authorities including the FCA. ActivTrades serves clients in over 140 countries and is known for competitive spreads and innovative trading tools. ActivTrades recently introduced zero commission on shares and fractional trading. The ActivTrades CEO and founder is Alex Pusco.
ActivTrades Features
The features of ActivTrades are listed below.
- ActivTrades is regulated in the EU by CySEC and authorized by the Bulgarian FSC regulator.
- The Bulgarian language can be chosen on the ActivTrades’ website.
- ActivTrades has a physical office in Sofia, Bulgaria.
- The ActivTrades minimum deposit in Bulgaria is $500.
- BGN is not accepted as base currency in Bulgaria, though ActivTrades offers USD, EUR and CHF base currencies.
- ActivTrades spreads in Bulgaria start from 0.1 pips on 45+ forex pairs with a leverage up to 30:1 (retail) and 400:1 (professional).
ActivTrades Pros and Cons
Advantages of ActivTrades
The advantages of ActivTrades are listed below.
- Low Trading Costs
- User-Friendly Platforms
- Regulatory Compliance
Disadvantages of ActivTrades
The disadvantages of ActivTrades are listed below.
- Limited Product Range
- Withdrawal Fees
Is forex trading legal in Bulgaria?
Forex trading is legal in Bulgaria. It is regulated by the Financial Supervision Commission (FSC). A broker who wants to offer services in Bulgaria just needs to be registered within any EU country to become authorized.
How to trade forex in Bulgaria
ESMA regulations mean there is a uniform structure across EU countries for what is required to trade forex. Within the EU a forex broker will require ID such as a passport to confirm your identity, and proof of residence from a bank statement or utility bill.
There are then some KYC questions that must be answered in relation to your product knowledge and also your current financial situation. With these steps complete, accounts are ready to be funded.
Where a broker offers a demo account, the above steps are not required for demo trading. Typically, demo accounts can be open with just an email and password since they are risk-free using virtual currency.
What should Bulgarian traders look for in a forex broker?
As a retail trader in Bulgaria and elsewhere in Europe, there are a few key limitations to note.
- You cannot trade with more than 1:30 leverage on Forex
- Spread betting is banned
- Binary Options are banned
- Welcome bonuses or deposit bonuses are not allowed but benefits to loyal/active traders are acceptable.
Here are three important tips when choosing a broker in Bulgaria:
1. Look for regulated forex brokers
Ensure you are choosing a well-regulated broker. Under ESMA rules, brokers are not allowed to offer services in any EU country if they are not ESMA regulated.
2. Choose brokers that offer low spreads and commissions
Choosing a broker with low spreads is important for most traders. This means below 1 pip on major forex pairs. Deposit and withdrawal fees if there are any, should also be minimal. Check these with the payment method you plan to use. Furthermore, a broker offering an active trader program with good rebates and other benefits is a positive.
3. If you want to keep your budget low, look for brokers with nano-lots
With a maximum leverage of 30:1 in Europe, it can be challenging to trade with less than €100. For this reason, standard minimum deposits are usually between €100 and €200. Trading with nano lots can provide flexibility and help in lowering risk. You can open positions on forex with just €0.33 and the usual minimum trade is just €33. Cent accounts are another good alternative with minimum deposits usually at €10 or less.
How to verify if a forex broker is regulated in Bulgaria
Broker regulation can be verified in Bulgaria through the ESMA official website. Here you should look for the listing of European national regulators. Many brokers are typically regulated in Cyprus which is also under ESMA. It is most likely that the broker will also hold the Bulgarian FSC license. This can be double-checked through the Financial Supervision Commission (FSC) website.
Is forex trading taxable in Bulgaria?
Forex trading is taxable in Bulgaria. Capital gains are taxed on an annual basis from 1 January to 31 December. Personal income in Bulgaria is taxed at a flat tax rate of 10%. Dividend income is taxed at 5%, and if paid by a Bulgarian company, this is withheld at source.