5 Best BFSC Regulated Forex Brokers in Bulgaria

Choose your quick section of our best BFSC Regulated Forex Brokers in Bulgaria below.

Our 5 Best Handpicked BFSC Regulated Forex Brokers in Bulgaria Revealed:

• ✔️FXCM
• ✔️Forex Time (FXTM)
• ✔️HotForex
• Alpari
• Markets.com
• Tips for finding and Choosing the Right Broker
• Trading in Bulgaria and what is the Appeal?
• Trading Rules and Regulations enforced in Bulgaria
• The Forex Market  and Bulgaria’s Struggling Economy (2020)
• Finding the Best Forex Brokers in Bulgaria

The South Eastern European country received its EU member status in 2007. Bulgaria works in line with the highest EU standards and all EU countries must abide by these legislations .  Brokers will be legally allowed to offer their services to all countries in the EU under a EEA agreement and this offers a  significant advantage for companies who wish to set up a brokerage firm in Bulgaria. Overview of the Best Globally Regulated Forex Brokers who accept Bulgarian Traders

FXCM

Forex Capital Markets Limited or FXCM is a Spread Betting, CFD and Forex trading broker, authorised by the UK Financial Conduct Authority under the Forex Capital Markets Limited and is part of the Leucadia Company plus the broker is listed on the New York Stock Exchange .FXCM offers users the ability to trade on Forex, Forex Baskets, Indices, Commodities and Crypto on its own proprietary Trading Station platform for Desktop, Web and Mobile, as well as on MetaTrader4, NinjaTrader and ZuluTrade.  Mirror Trader is a trading platform made available which allows traders to follow both strategies and signals of other traders. Mirror Trader is an ideal solution for those investors who wish to follow the FX markets, but do not have the time available to determine what or when to trade.  Mirror trading with FXCM will highlight which currency pairs are performing best in the current market conditions, sending signals when to enter and exit a trade. It will allow traders to take advantage of all market movements. Mirror Trader allows traders to evaluate, as well as build a portfolio of back-tested strategies, or follow individual signals which supports their own trading analysis.

The asset selection offered by FXCM includes thirty-nine currency pairs, thirteen index CFDs, nine commodity CFDs, together with one bond CFD which completes the selection. Five cryptocurrency CFDs plus one cryptocurrency basket have recently been added. Though this asset selection is rather limited compared to that of other brokers, it is sufficient for traders at all levels.

Pros and Cons

FXCM offers traders 4 main types of trading accounts to choose from, including  Spread Betting, CFD Trading, Active Trader and Professional Clients. A Free Demo account is made available.  UK based traders can take advantage of the Spread Betting account for tax-free trading.

Trading Benefits

Customer Support is available via Live Chat, Phone, Email and SMS.

Forex Time (FXTM)

FXTM or ForexTime was founded in 2011 and is a registered brand name of Exinity Limited. FXTM falls under the regulation of the Financial Services Commission of Mauritius with license number C113012295.  FXTM offers users seven different accounts types where the execution method, range of markets, available platform, and commissions/fees may vary.  Three accounts are offered under the Standard category.  Forex Time (FXTM) is a MetaTrader broker which offers forex and CFD traders multiple account options for both MT4 and MT5 platforms.

Pros and Cons

FXTM provides research in the form of daily technical and fundamental news analysis provided by an in-house team of analysts.  ForexTime Limited is authorised in Cyprus by CySEC, while ForexTime UK Limited operates under the oversight by the FCA. All international traders will manage their accounts at Exinity Limited under the jurisdiction of the Financial Services Commission of the Republic of Mauritius (FSCM).   The FXTM Brand does accept investors situated USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, New Zealand or the Occupied Area of Cyprus. ForexTime Limited currently only provides services to the EEA, Switzerland plus South Africa. ForexTime UK Limited accepts clients from all member countries of the EEA.

Trading Benefits

Customer Service is available from 8 am – 8 pm, via phone, email, online chat options – WhatsApp, live chat, Viber, Telegram or Messenger.

HotForex

HotForex and HFM are unified brand names of HFM Group. HotForex regulation stretches across different entities such as FCA UK, DFSA, CySEC, FSCA as well as the SFSA. HotForex is also authorised by the UK’s Financial Conduct Authority under the name HFM (UK) Ltd.  The HFM Group also holds regulations from the Dubai Financial Services Authority (DFSA), the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority of South Africa (FSCA) plus the Seychelles Financial Services Authority (SFSA) respectively.

Pros and Cons

The HotForex MT5 terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging and one-click trading and 80+ technical indicators plus an in-built economic calendar.  The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.  HotForex users will have the ability to trade on more than 1,000+ instruments covering 52 Forex pairs, 5 Commodities, 11 Indices, 56 Shares, 3 Bonds plus 8 Cryptocurrency CFDs, 34 ETFs, 948 DMA, 6 Metals, 2 Energies.

Trading Benefits

Customer support is available 24/5 during Market hours via phone, email, live chat plus Online contact form.

Alpari

Alpari with its long-standing brand history, numerous offices, range of account types and diverse managed account offerings is the perfect choice for Forex and CFD traders who are looking to leverage the power of MetaTrader platforms.  Alpari is regulated by the FSC.  Alpari International caters to over 2,000,000 traders plus continuously update its performance statistics.  Alpari clientele will have access to 60 currency pairs, eight commodities along with four cryptocurrency CFDs. Alpari International also offers an indefinite number of direct stock trading on instruments listed on the New York Stock Exchange (NYSE) plus the NASDAQ stock market. Alpari International lists 93 assets under Contract Specifications, an unspecified amount of direct stock trading plus  250+ assets.

Pros and Cons

Alpari integrates research content from several third-party providers under its Forex Analytics section and is a MetaTrader-only broker.  The native versions of the mobile app for MetaTrader 4 and MetaTrader5 are available for Android and iOS devices straight from the developer.

Trading Benefits

Customer Service is available via live chat, email and phone service.

Markets.com

Markets.com offers traders access to the world’s most traded CFDs using instruments such as shares, currencies, indices, bonds, ETFs and commodities.  Markets.com is regulated by the Cyprus Securities and Exchange Commission (CySEC).

Pros and Cons

To open a live account, traders will need to make a minimum deposit of at least $100.  Markets.com offers over 2,146 different instruments to trade, including over 56 currency pairs on MT4 and MT5 forex trading platforms.

Trading Benefits

Customer support is available in over 25 languages, 24/5 via email, telephone and live chat.

Tips for finding and Choosing the Right Broker

Before looking at brokers, investors should assess their own needs. Factors to consider include, amount and type of trading. Investors should choose a broker and account type which matches their capital.  When it comes to depositing and withdrawing funds from a trading account, different brokers will offer various methods. Once again, investors should choose a broker that aligns with their needs. Once an investor has a list of potential brokers, they should test out the brokers before making a final decision.  This can be done by opening a demo account.  Create a demo account and practice with the account for several weeks before attempting a live trade. When an investor chooses to create a Demo account, they will be able to test out the Broker without investing any capital. For the most part, all major brokerage firms will offer demo accounts.

Technology has also revolutionized Forex Trading in recent years, with offers including:

• Copy Trading Technology
• Automated Forex Trading Technology
• Bot Technology
• Notify Technology
• Mobile Trade Technology

Trading in Bulgaria and what is the Appeal?

Opening a regionally situated office in Bulgaria may be beneficial for international brokerage firms as they will have access to advantages only Bulgaria has on offer. As a part of the EU, brokers would be automatically allowed to trade in any EU member state, and Bulgaria has lower taxes with a corporate tax rate of only 10%. Licensing costs will be lower in comparison to other countries, and Bulgaria’s workforce works for significantly lower wages than employees in many other EU states.   International brokers may be able to save a lot of money over time and all in all, Bulgaria welcomes international brokerage firms into their country as locally situated Brokers may unfortunately be few and far between. Even in 2025, the selection of local firms was seriously lacking.

Trading Rules and Regulations enforced in Bulgaria

Although the Bulgarian Financial Supervision Commission stands for everything mentioned above, it does unfortunately seem that even as late as 2025, many of these set rules and regulations are still existent only on paper. Bulgarian brokers have been accused of not maintaining best practice for their clients and taking advantage of the authorities rather loose approach to actually enforcing their own rules and it would seem 2025/2021 is no different. Locally situated brokers enjoy multiple benefits and it would seem brokers are attracted to Bulgaria due to i flexibility of the regulatory body and the rules made. The Bulgarian Financial Supervision Commission has less strictly enforced regulatory guidelines in comparison to the overall difficulty of gaining a European regulatory license from other EU regulatory agencies. The entity may be designed according to the MiFID derivative, but – the Bulgarian Government has made it easier for brokers to set up a brokerage firms in Bulgaria and offer their services to locally situated investors.  License fees and other set up expenses are seen as extremely reasonable and comes at a fraction of costs incurred in other established countries globally.

Bulgaria will allow international brokers to set up their business with a small minimum deposit. As Bulgaria is a part of the EEA and falls under a MiFID derivative, brokers will be required to adhere to multiple standard regulatory procedures derived according to the European Union’s legal framework of operations. Bulgarian brokers will be routinely audited in order to prevent any misrepresentation of financial statements.  It is expected that all brokers who offer their services in Bulgaria, will hold all client funds in segregated bank accounts.

The Bulgarian Financial Supervision Commission has set authority to issue sanctions and issue penalties against financial companies who do not follow a set code of conduct. While the Bulgarian Financial Supervision Commission is required to act strictly against its member nations, it is known that they have a lack lustre approach to regulating its member firms.  The regulator might have the minimum number of regulatory protocols required to satisfy MiFID but, Bulgaria should not be taken lightly. MiFID derivatives are created specifically to protect all investor against financial abuse and broker scams. Investing funds with a Bulgarian broker should protect investor funds against any misuse. MiFID offers an excellent customer complaint resolution process, which is in turn adopted by brokers in Bulgaria.

The Forex Market  and Bulgaria’s Struggling Economy (2020)

Bulgarian brokers may be not kept on a short leash, but they also do not turn a blind eye. Bulgarian brokers are simply given a bit more space and the company utilize the newly popular Forex market to boost Bulgaria’s overall economy. New brokerage firms will result in new employment opportunities and, with more people getting involved in Forex trading, an influx of significant new capital may be seen.

Bulgaria has an open, upper middle income range market economy in which the private sector accounts for more than 70% of GDP. The Bulgarian labour force (2020/2021) is approximately 3 million people, of whom 6.8% are employed in agriculture, 26.6% in industry and 66.6% for the services sector. The extraction of metals and minerals, production of chemicals, building machinery, steel, biotechnology, tobacco, food processing and petroleum refining are among the major industrial activities in Bulgaria. The Mining industry in 2025 alone, employed roughly 24,000 people and generated roughly 5% of Bulgaria’s GDP. Bulgaria is Europe’s fifth-largest coal producer with local commodity deposits of coal, iron, copper and lead being vital in both manufacturing and energy sectors. Bulgarian exports commodities to the EU member states, Turkey, China and the United States. Most of the recorded exports are manufactured goods, machinery, chemicals, fuel products and food.  Bulgaria is the largest global producer of lavender and rose oil, both of which is widely used in fragrance production. Tourism is a significant contributor to Bulgarian economic growth.

Finding the Best Forex Brokers in Bulgaria

The fact is there are some decent Locally based brokerage firms available. However, they are few and far between.  Luckily, there are multiple Global brokers who gladly accept Bulgarian investors, as multiple countries are EU Member countries.

Conclusion

As always, no matter the country, be it 1990 or 2025/21, an important piece of advice is to choose a regulated Forex broker. For a traders own safety and for the security of their investment, it may be best to choose a Forex broker situated in Bulgaria. However, Bulgarian investors can make their choice from all EEA-regulated brokers.    Aside from regulation, there are multiple other factors to take into account. This will include account options, payment methods and customer service.

Forex Traders will have to decide on what type of account they wish to open and account types available will be based on the amount deposited and have different names like micro account, mini account, standard account and VIP account etc.  Funding and withdrawing money to and from their chosen account is also very important.  For the most part, brokers will accept Credit/Debit cards, Bank Wire transfers, Skrill and PayPal. As Forex is traded 24 hours a day it should also be expected that an investors chosen broker can offer them an uninterrupted customer service and advice when the occasion does arise.

The Bulgarian Financial Supervision Commission is an independent regulatory agency which reports directly to the National Assembly of the Republic of Bulgaria. The commission itself was founded in 2003 and has been modified through EU intervention to conform with regulatory standards according to MiFID derivatives.

Brokers will be structured in accordance to strict guidelines issued by MiFID, and makes this authority one of the most respected regulatory agencies in Europe. Bulgarian FSC is not only responsible for regulating brokers, but also regulates and license all non-banking financial institutions. Bulgaria is a very popular destination for brokers due to low operating costs and an incredibly low tax structure.

The Bulgarian Financial Supervision Commission was established in 2003 and reports directly to the Bulgarian National Assembly. The Bulgarian Financial Supervision Commission was formed with a main purpose of regulating and supervising capital markets. This includes insurance, pension insurance, and health insurance market. Main Goals for the Bulgarian Financial Supervision Commission is ensuring fairness and transparency, customer protection, and market stability, to name but a few. The entity supervises both financial situations and  accuracy of information provided by Brokers and ensures that they comply with all defined regulations. The Bulgarian Financial Supervision Commission has the power to sanction untrustworthy brokers.

Frequently Asked Questions (FAQs)

What is Bulgarian Financial Supervision Commission?

The  Bulgarian Financial Supervision Commission is the regulatory authority in Bulgaria and is tasked with market oversight.

What does the Bulgarian Financial Supervision Commission do?

The entity monitors brokers in Bulgaria and has the power to grant and revoke trading licenses to brokerage firms in the country.

Are locally situated brokers safe?

Yes, as Bulgarian Brokers falls under the MiFID derivatives and all licenced brokerage firms must comply with the set rules and regulations of the EU.

What is the best broker in Brazil?

Traders may notice that there aren’t a huge number of brokers regulated by the Bulgarian Financial Supervision Commission. However, Traders can make their choice from multiple global firms which are also EEA authorized.

How do I know if a broker is locally regulated?

This will be publicly listed on the Bulgarian Financial Supervision Commission official website.