Best Forex Brokers in Bulgaria in 2021

Best Forex Brokers in Bulgaria in 2021

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Bulgaria, also known officially as the Republic of Bulgaria, is a Southeast European country with a population of more than 6 million and a growing economy. Many European countries are frontrunners in forex trading, and the forex industry in Bulgaria grew by 20.7% in 2020, according to trusted sources.

Bulgarian traders who are new to forex trading and who want the best forex brokers that accept forex traders from Bulgaria can consult the list below:

  1. Swissquote
  2. XTB
  3. OctaFX
  4. Questrade
  5. easyMarkets
  6. HYCM
  7. FXTM
  8. FBS
  9. Alpari
  10. HotForex

Forex Brokers in Bulgaria include those that serve in several other European countries, and they are active forex brokers in many other global regions.

1. Swissquote

Swissquote is a forex broker that was founded in 2000 and is headquartered in Switzerland. Swissquote is a regulated broker with regulation and authorization through these entities:

  • Financial Conduct Authority (FCA)
  • Swiss Financial Market Supervisory Authority (FINMA)
  • Dubai International Financial Centre (DIFC)
  • The Dubai Financial Services Authority (DFSA)
  • The Securities and Futures Commission (SFC) in Hong Kong
  • Malta Financial Services Authority (MFSA)
  • Monetary Authority of Singapore (MAS)

Marc Bürki and Paolo Buzzi founded Swissquote, and the CEO is Marc Bürki, who has held the position for the past two decades. The market capitalization for Swissquote is 2.15 billion CHF, and there is 440.2 million CHF in equity held.

In terms of users, there are more than 340,000 forex traders registered with Swissquote, according to trusted sources. According to official sources, the staff size for Swissquote is between 500 and 1,000 employees.

In terms of deposit rates and fees, Swissquote charges a minimum deposit of 1,000 USD with a spread of 0.6 pips EUR/USD and commissions from $3.

In terms of trading speed, Swissquote executes all orders within seconds because of the high liquidity provided by 16 trusted, reliable liquidity providers (LPs). In terms of the trust, security, and security features, Swissquote is regulated by multiple entities with level 4 and level 3 licenses, guaranteeing security and safety.

In terms of tradable financial instruments, Swissquote offers the following:

  • Forex
  • Stocks
  • Shares
  • Indices
  • ETFs
  • Cryptocurrencies
  • Government Bonds
  • Commodities

In terms of currency types, Swissquote supports the following currencies:

  • USD
  • CHF
  • EUR
  • GBP

In terms of trading software, Swissquote offers forex traders the following applications:

  1. Swissquote eTrading Platform for multiple assets
  2. Swiss DOTS trading platform for derivatives
  3. Themes Trading
  4. Swissquote Mobile

In terms of research and education, Swissquote offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. AutoChartist
  2. Robo-Advisory
  3. Trading Videos
  4. Webinars
  5. Market Analysis
  6. Swissquote Magazine
  7. Swissquote Pulse

In terms of customer support, Swissquote can be contacted through the following channels:

  • Telephone
  • Live Chat
  • Email
  • Twitter
  • LinkedIn
  • Facebook
  • Instagram

In terms of the service area, Swissquote serves traders from around the world except for traders from these regions:

  • Belgium
  • Algeria
  • Canada
  • The United States
  • Zimbabwe
  • Singapore
  • Japan
  • North Korea
  • Nigeria
  • Saudi Arabia and several other jurisdictions

When compared to other forex brokers, Swissquote offers the following unique sides and features:

  • Trusted solutions and services as a reputable broker that has been in operation for years
  • Low and competitive commission charges
  • Powerful proprietary trading software
  • More than 8,500 tradable instruments

Swissquote is an active forex broker in Bulgaria with more than 500 registered users. In terms of market share, Swissquote has a decent portion, especially where professional and experienced forex traders are concerned.

In terms of privileges that Swissquote offers to citizens from Bulgaria, traders can expect professional services and solutions.

The reason why so many forex traders use Swissquote in Bulgaria relates to its proprietary software, trusted solutions, and a wide variety of tradable financial instruments.

To get more information, you can read the Swissquote Forex Suggest review.

2. XTB

XTB is a forex broker that was founded in 2002 in Belize. XTB is a regulated broker with regulation and authorisation through these entities:

  • Comisión Nacional del Mercado de Valores (CNMV)
  • The Capital Markets Banc (CMB)
  • The Prudential Control and Resolution Authority (ACPR)
  • Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)
  • Komisja Nadzoru Finansowego (KNF)
  • Financial Conduct Authority (FCA)
  • International Financial Services Commission (IFSC)

XTB was established by Jakub Zablocki, and the CEO is Carl Kirchner, who has held the position for the past seven consecutive years. The market capitalization for XTB is 2 049.52 million USD, according to stock information.

In terms of users, there are more than 275,000 forex traders who are registered with XTB. According to official sources, the staff size for XTB consists of 500 employees.

In terms of deposit rates and fees, XTB has a minimum deposit of 250 USD with spreads starting from 0.5 pips EUR/USD and commissions from 0.08% on stock and ETF CFDs.

In terms of trading speed, XTB executes all orders within a few seconds, according to trusted sources. In terms of the trust, security, and security features, XTB is a trusted broker that uses stringent security protocols and the best software on the market.

In terms of tradable financial instruments, XTB offers the following:

  • ETF CFDs
  • Cryptocurrencies
  • Forex
  • Indices
  • Commodities
  • Stock CFDs

In terms of currency types, XTB supports the following currencies:

  • USD
  • EUR
  • GBP
  • HUF

In terms of trading software, XTB offers forex traders the following applications:

  1. XTB Online Trading xStation 5 trading platform
  2. MetaTrader 4

In terms of research and education, XTB offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. Trading Academy
  2. Trading Articles
  3. Live Webinars
  4. Market Sentiment
  5. Market Calendar

In terms of customer support, XTB can be contacted through the following channels:

  • Live Chat
  • Telephone
  • Email
  • Facebook
  • Twitter

In terms of the service area, XTB serves traders from around the world except for traders from these regions:

  • The United States
  • Australia
  • South Korea
  • Singapore
  • Cuba and several other regions around the world where forex trading is restricted.

When compared to other forex brokers, XTB offers the following unique sides and features:

  • XTB is a large, reputable forex broker and trading platform that is one of few listed on a global stock exchange
  • Low commission charges
  • Innovative, flexible, and user-friendly trading software
  • A choice in more than 1,500 tradable instruments spread across several asset classes

XTB is an active forex broker in Bulgaria with more than 100 registered users. In terms of market share, XTB shares the space with other brokers who also offer competitive conditions.

In terms of privileges, XTB is not known to offer any special offers or privileges to Bulgarian traders.

The reason why so many forex traders use XTB in Bulgaria relates to its proprietary trading software, range of markets, and variety of trading tools.

To get more information, you can read the XTB Forex Suggest review.

3. OctaFX

OctaFX is a forex broker that was founded in 2011and is headquartered in Saint Vincent and the Grenadines. OctaFX is a regulated broker with regulation and authorization through these entities:

  • Financial Services Authority of Saint Vincent and the Grenadines (FSA SVG)
  • The Cyprus Securities and Exchange Commission (CySEC).

The CEO for OctaFX is Georgios D. Pantzis, who has held the position for the past three years. In terms of users, there are more than 6.6 million forex traders registered with OctaFX, according to trusted sources. According to official sources, the staff size for OctaFX is between 250 and 500 employees.

In terms of deposit rates and fees, OctaFX charges a minimum deposit of 100 USD with a spread from 0.0 pips and commissions from $0.02 per 0.01 lot traded.

In terms of trading speed, OctaFX executes 97.5% of all orders are executed with minimal slippage within seconds. In terms of the trust, security, and security features, OctaFX is well-regulated and uses stringent security protocols to ensure a safe trading environment.

In terms of tradable financial instruments, OctaFX offers the following:

  • Forex
  • Metals
  • Energies
  • Indices
  • Cryptocurrencies

In terms of currency types, OctaFX supports the following currencies:

  • EUR
  • USD

In terms of trading software, OctaFX offers forex traders the following applications:

  1. OctaFX trading application
  2. MetaTrader 4
  3. MetaTrader 5
  4. cTrader

In terms of research and education, OctaFX offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. Forex basics
  2. Video Tutorials
  3. Webinars
  4. Trading Calculator
  5. Live Quotes
  6. AutoChartist
  7. Market Information
  8. Economic Calendar
  9. Market Insights

In terms of customer support, OctaFX can be contacted through the following channels:

  • Twitter
  • Instagram
  • Telegram
  • LinkedIn
  • Telephone
  • Live Chat
  • Email
  • Facebook

In terms of the service area, OctaFX serves traders from around the world except for traders who reside in the United States. When compared to other forex brokers, OctaFX offers the following unique sides and features:

  • A trading environment that offers traders robust security features to ensure data, information, and client fund protection
  • Ultra-low commission fees
  • A choice between four different trading platforms
  • A large variety of trading instruments

OctaFX is an active forex broker in Bulgaria with thousands of registered users. In terms of market share, OctaFX occupies a significant portion even though it faces some serious competition from other brokers who also accept Bulgarian traders.

In terms of privileges that OctaFX offers to citizens from Bulgaria, new traders can expect bonuses, a demo account, and a variety of educational tools and resources.

The reason why so many forex traders use OctaFX in Bulgaria relates to its unique services, innovative trading software, and user-friendly solutions.

To get more information, you can read the OctaFX Forex Suggest review.

4. Questrade

Questrade is a forex broker that was founded in 1999 and is headquartered in Canada. Questrade is a regulated broker with regulation and authorization through these entities:

  • Investment Industry Regulatory Organization of Canada (IIROC)
  • Canadian Investor Protection Fund (CIPF)

Edward Kholodenko, alongside three other partners, founded Questrade. Edward Kholodenko is still the CEO for Questrade, and there is more than $25 billion under management as of early 2021.

In terms of users, Questrade sees more than 200,000 accounts opened annually. According to official sources, the staff size for Questrade is between 500 and 1,000 employees.

In terms of deposit rates and fees, Questrade charges a minimum deposit of 1,000 USD and offers self-directed investment solutions from $0.01 per share and Questwealth portfolios from 0.25% per annum.

In terms of trading speed, Questrade executes all orders within a few seconds. In terms of the trust, security, and security features, Questrade is one of the most trusted investment providers and forex brokers in Canada that guarantees client fund security.

In terms of tradable financial instruments, Questrade offers the following:

  • ETFs
  • Mutual Funds
  • Stocks
  • Options
  • IPOs

In terms of currency types, Questrade supports the following currencies:

  • USD
  • GBP
  • EUR

In terms of trading software, Questrade offers forex traders the following applications:

  • IQ Web platform (browsers)
  • IQ Edge (desktop-based)

In terms of research and education, Questrade offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. Market Intelligence
  2. Intraday Trader
  3. IPO Centre
  4. Investment Blog
  5. Investment Webinars

In terms of customer support, Questrade can be contacted through the following channels:

  • Live Chat
  • Telephone
  • Email
  • Social Media

In terms of the service area, Questrade serves traders from around the world except in some regions. When compared to other forex brokers, Questrade offers the following unique sides and features:

  • A secure and robust trading platform
  • Competitive trading and non-trading fees
  • Innovative and powerful proprietary trading software
  • A range of investment products and tradable instruments

Questrade is an active forex broker in Bulgaria with a few registered traders. Due to its unique services, Questrade does not have a large market share in Bulgaria.

In terms of privileges, Questrade does not offer any special privileges to Bulgarian citizens other than its innovative investment solutions, which are directed at professionals.

The reason why so many investors and forex traders in Bulgaria choose Questrade is to relate to its innovative, tailor-made, and customizable investment solutions that allow traders to make long-term investments that will help grow their wealth.

To get more information, you can read the Questrade Forex Suggest review.

5. easyMarkets

easyMarkets is a forex broker that was founded in 2001 and is headquartered in Cyprus. easyMarkets is a regulated broker with regulation and authorization through these entities:

  • The Australian Securities and Investment Commission (ASIC)
  • The Cyprus Securities and Exchange Commission (CySEC)
  • Financial Services Authority (FSA) in Seychelles

The CEO for easyMarkets is Nikos Antoniades, who has held the position for the past 13 years and seven months. easyMarkets has an average daily trading volume of more than 3.2 billion USD.

In terms of users, there are more than 140,000 forex traders registered with easyMarkets, according to trusted sources. According to official sources, the staff size for easyMarkets is 100 to 250 employees.

In terms of deposit rates and fees, easyMarkets charges a minimum deposit of 100 USD with a spread from 0.9 pips with zero commissions charged on trades.

In terms of trading speed, easyMarkets guarantees fast and reliable trading speeds. In terms of the trust, security, and security features, easyMarkets is a regulated broker that guarantees client fund security.

In terms of tradable financial instruments, easyMarkets offers the following:

  • Forex
  • Commodities
  • Cryptocurrencies
  • Stocks
  • Shares
  • Indices
  • Metals
  • Energies
  • Options
  • Bonds
  • CFDs
  • ETFs

In terms of currency types, easyMarkets supports the following currencies:

  • USD
  • GBP
  • EUR
  • CAD
  • AUD, and others.

In terms of trading software, easyMarkets offers forex traders the following applications:

  1. easyMarkets WebTrader
  2. easyMarkets MetaTrader 4

In terms of research and education, easyMarkets offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. dealCancellation
  2. Inside Viewer
  3. Freeze Rate
  4. Market Explorer
  5. Live Rate Graphs
  6. eBooks
  7. Articles
  8. Glossary, and others.

In terms of customer support, easyMarkets can be contacted through the following channels:

  • Email
  • Telephone
  • Live Chat
  • Facebook
  • Viber
  • WhatsApp

In terms of the service area, easyMarkets serves traders from around the world except for traders from these regions:

  • Iraq
  • The United States
  • Israel
  • Iran

When compared to other forex brokers, easyMarkets offers the following unique sides and features:

  • easyMarkets is a trusted and reputable brand with regulation from several entities to offer its services
  • Competitive commissions charged on some instruments
  • Powerful, innovative trading technology and software across several devices
  • More than 200 tradable instruments

easyMarkets is an active forex broker in Bulgaria with hundreds of registered users. In terms of market share, easy markets share for Bulgaria is not given.

In terms of privileges that easyMarkets offers to citizens from Bulgaria, beginners and professionals can expect some of the most comprehensive trading solutions.

The reason why so many forex traders use easyMarkets in Bulgaria relates to its trading software, range of trading tools, and trusted solutions.

To get more information, you can read the easyMarkets Forex Suggest review.

6. HYCM

HYCM is a forex broker that was founded in 1977 and is headquartered in the United Kingdom. HYCM is a regulated broker with regulation and authorization through these entities:

  • Financial Conduct Authority (FCA)
  • Cyprus Securities and Exchange Commission (CySEC)
  • The Cayman Islands Monetary Authority (CIMA)
  • Dubai Financial Services Authority (DFSA)

In terms of users, there are forex traders from more than 170 countries worldwide who are registered with HYCM, according to trusted sources. According to official sources, the staff size for HYCM is between 250 to 500 employees.

In terms of deposit rates and fees, HYCM charges a minimum deposit of 100 USD with a spread from 0.2 pips and commissions of 4 USD per round.

In terms of trading speed, HYCM executes all orders within 12 milliseconds. In terms of the trust, security, and security features, HYCM is multi-regulated by reputable entities that keep client funds in segregated accounts and is registered with insurance and compensation schemes.

In terms of tradable financial instruments, HYCM offers the following:

  • Forex
  • Stocks
  • Indices
  • Cryptocurrencies
  • Commodities
  • ETFs

In terms of currency types, HYCM supports the following currencies:

  • USD
  • EUR
  • GBP
  • AED
  • RUB
  • CAD

In terms of trading software, HYCM offers forex traders the following applications:

  1. MetaTrader 4
  2. MetaTrader 5

In terms of research and education, HYCM offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. Trading Calculators
  2. Economic Calendar
  3. Market Outlook
  4. Trading Central
  5. Trading Guides
  6. Webinars and Seminars

In terms of customer support, HYCM can be contacted through the following channels:

  • Email
  • Online Chat
  • Telephone
  • Facebook
  • Twitter
  • LinkedIn
  • Instagram

In terms of the service area, HYCM serves traders from around the world except for traders from these regions:

  • Afghanistan
  • Belgium
  • Hong Kong
  • Japan
  • United States of America

When compared to other forex brokers, HYCM offers the following unique sides and features:

  • A secure trading environment
  • Low commission on trades
  • Innovative trading technology
  • More than 300 tradable instruments

HYCM is an active forex broker in Bulgaria with more than a few hundred registered users. In terms of market share, HYCM is a large, popular broker that caters for both beginners and experts.

In terms of privileges, HYCM is not known to offer any special privileges to Bulgarian citizens or forex traders.

The reason why so many forex traders use HYCM in Bulgaria relates to its secure, trusted solutions.

To get more information, you can read the HYCM Forex Suggest review.

7. FXTM

FXTM is a forex broker that was founded in 2011 and is headquartered in Mauritius. FXTM is a regulated broker with regulation and authorization through these entities:

  • Financial Conduct Authority (FCA)
  • Cyprus Securities and Exchange Commission (CySEC)
  • Financial Services Conduct Authority (FSCA) in South Africa
  • Financial Services Commission

Andrey Dashin and Olga Rybalkina founded FXTM, and the CEO is Olga Rybalkina, who has held the position since FXTM was established. FXTM has an average daily trading volume of 3.6 billion USD. 

In terms of users, there are more than 3 million forex traders registered with FXTM, according to trusted sources. According to official sources, the staff size for FXTM is 782 employees.

In terms of deposit rates and fees, FXTM charges a minimum deposit of 10 USD with a spread from 0 pips and commissions from $2.

In terms of trading speed, FXTM executes all orders within 0.068 seconds on average. In terms of the trust, security, and security features, FXTM is a reliable forex broker that works with transparency, guaranteeing client fund safety.

In terms of tradable financial instruments, FXTM offers the following:

  • CFDs on commodities
  • CFDs on indices
  • Spot Metals
  • Stock CFDs
  • Stocks
  • Forex

In terms of currency types, FXTM supports the following currencies:

  • USD
  • EUR
  • GBP
  • IDR
  • MYR
  • NGN
  • ZAR

In terms of trading software, FXTM offers forex traders the following applications:

  1. MetaTrader 4
  2. MetaTrader 5
  3. FXTM Trader

In terms of research and education, FXTM offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. Daily market analysis
  2. Podcasts
  3. Economic Calendar
  4. Forex News Timeline
  5. Market Analysis
  6. eBooks
  7. Trading Seminars and Webinars
  8. Forex glossary
  9. Beginner’s guide
  10. Educational Videos

In terms of customer support, FXTM can be contacted through the following channels:

  • Telephone
  • Live Chat
  • Email
  • Facebook
  • Twitter
  • LinkedIn
  • Instagram
  • Telegram

In terms of the service area, FXTM serves traders from around the world except for traders from these regions:

  • Haiti
  • Suriname
  • Democratic Republic of Korea
  • Puerto Rico
  • Occupied Area of Cyprus
  • United States
  • Mauritius
  • Japan
  • Alberta
  • British Columbia
  • Canada
  • Quebec
  • Saskatchewan

When compared to other forex brokers, FXTM offers the following unique sides and features:

  • A secure trading environment and effective client fund security
  • Low commission charges
  • A choice in trading platforms
  • More than 250 tradable financial instruments

FXTM is an active forex broker in Bulgaria with more than a few hundred registered users. In terms of market share, FXTM is one of the most active brokers that has a decent market share in Bulgaria.

In terms of privileges that FXTM offers to citizens from Bulgaria with innovative trading platforms and solutions suited to beginners who have never traded in the forex market.

The reason why so many forex traders use FXTM in Bulgaria relates to its reliable trading speed, choice in accounts and trading software, and dedicated support.

To get more information, you can read the FXTM Forex Suggest review.

8. FBS

FBS is a forex broker that was founded in 2009 and is headquartered in Belize. FBS is a regulated broker with regulation and authorization through the International Financial Services Commission (IFSC).

In terms of users, there are more than a million forex traders registered with FBS, according to trusted sources. According to official sources, the staff size for FBS is between 100 and 250 employees.

In terms of deposit rates and fees, FBS charges a minimum deposit of 1 USD with a spread from 0.0 pips and commissions from $20. 

In terms of trading speed, FBS executes all orders within seconds. In terms of the trust, security, and security features, FBS uses stringent protocols to secure the website and the trading platform.

In terms of tradable financial instruments, FBS offers the following:

  • Forex
  • Metals
  • Indices
  • Energies
  • CFDs
  • Stocks

In terms of currency types, FBS supports the following currencies:

  • EUR
  • USD

In terms of trading software, FBS offers forex traders the following applications:

  1. MetaTrader 4
  2. MetaTrader 5
  3. FBS Trader

In terms of research and education, FBS offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. Seminars
  2. Glossary
  3. Economic Calendar
  4. Currency Converter
  5. Daily Market Analysis
  6. Forex Guidebook
  7. Forex Books
  8. Tips for Forex Traders
  9. Webinars
  10. Video Lessons

In terms of customer support, FBS can be contacted through the following channels:

  • WeChat
  • Facebook
  • Viber
  • Line
  • Telegram
  • WhatsApp
  • Telephone
  • Email
  • Fax
  • Call-back form

In terms of the service area, FBS serves traders from around the world except for traders from these regions:

  • Canada
  • Japan
  • The United States
  • Israel, and several other regions.

When compared to other forex brokers, FBS offers the following unique sides and features:

  • Secure solutions and client fund security
  • Competitive commission fees
  • A choice in forex trading platforms
  • A range of tradable instruments

FBS is an active forex broker in Bulgaria with more than a few thousand registered users. In terms of market share, FBS has a decent but not significant market share because of the competitiveness of the field and the number of brokers present in Bulgaria.

In terms of privileges, FBS does not offer Bulgarian citizens any privileges. The reason why so many forex traders use FBS in Bulgaria relates to its advanced tools, education, and dedicated customer support.

To get more information, you can read the FBS Forex Suggest review.

9. Alpari

Alpari is a forex broker that was founded in 1998 and is headquartered in Russia. Alpari is a regulated broker with regulation and authorization through these entities:

  • Financial Services Commission (FSC)

A group of professionals founded Alpari, and the CEO is Vladimir Verbitskiy, who has held the position for the past three consecutive years. Alpari has an average volume of daily transactions of 3.0 billion USD. 

In terms of users, there are more than 2 million forex traders registered with Alpari, according to trusted sources. According to official sources, the staff size for Alpari is between 500 and 1,000.

In terms of deposit rates and fees, Alpari charges a minimum deposit of 5 USD with a spread from 0.4 pips and commissions of $1,5 per lot per side.

In terms of trading speed, Alpari executes all orders within 0.06 seconds. In terms of the trust, security, and security features, Alpari offers a safe trading environment through robust security and safety of funds.

In terms of tradable financial instruments, Alpari offers the following:

  • Forex
  • Cryptocurrencies
  • Spot CFDs
  • Metals

In terms of currency types, Alpari supports the following currencies:

  • USD
  • EUR
  • GBP
  • NGN

In terms of trading software, Alpari offers forex traders the following applications:

  1. MetaTrader 4
  2. MetaTrader 5

In terms of research and education, Alpari does not offer a free newsletter or a blog, but forex traders can expect these useful trading tools:

  1. Alpari Forex Trading Webinars
  2. Beginners Guide to Trading
  3. Forex Trading Strategies
  4. Commodity Trading Guide
  5. Precious Metal Trading Guide

In terms of customer support, Alpari can be contacted through the following channels:

  • Email
  • Telephone
  • Live Chat
  • Facebook
  • Twitter
  • Instagram

In terms of the service area, Alpari serves traders from around the world except for traders from these regions:

  • Belarus
  • The United States
  • Mauritius
  • Japan
  • British Columbia
  • Ukraine
  • Georgia and several others.

When compared to other forex brokers, Alpari offers the following unique sides and features:

  • A trusted and secure trading platform and environment
  • Some of the lowest commission charges in the industry
  • A choice between MetaTrader 4 and MetaTrader 5, two of the best, most popular trading platforms in the industry
  • More than 70 tradable instruments

Alpari is an active forex broker in Bulgaria with more than a few thousand registered users. In terms of market share, Alpari shares the space with other brokers but is a good choice for both beginners and experts. 

In terms of privileges, Alpari does not offer Bulgarian citizens any special privileges when they register for a live trading account. The reason why so many forex traders use Alpari in Bulgaria relates to its competitive trading conditions and low commission charges.

To get more information, you can read the Alpari Forex Suggest review.

10. HotForex

HotForex is a forex broker that was founded in 2010 and is headquartered in Cyprus. HotForex is a regulated broker with regulation and authorization through these entities:

  • Financial Services Commission (FSC)
  • Financial Services Authority (FSA)
  • The Financial Sector Conduct Authority (FSCA)
  • Dubai Financial Services Authority (DFSA)

The CEO for Hot Forex is George Koumandaris, who has held the position for the past several years. The average daily trading volume for HotForex is 11.9 billion USD. In terms of users, there are more than 2.5 million forex traders registered with HotForex, according to trusted sources. 

According to official sources, the staff size for HotForex consists of more than 200 employees. In terms of deposit rates and fees, HotForex charges a minimum deposit of $5 with spreads that start from 0.1 pips EUR/USD and commission charges from $3.

In terms of trading speed, HotForex executes all orders within just a few milliseconds. In terms of the trust, security, and security features, HotForex uses the latest protocols to guarantee a safe and secure trading environment for all traders.

In terms of tradable financial instruments, HotForex offers the following:

  • Indices
  • Stocks
  • CFDs
  • Metals
  • Energies
  • Forex
  • Commodities
  • Cryptocurrencies
  • Bonds
  • Shares

In terms of currency types, HotForex supports the following currencies:

  • USD
  • ZAR, and more.

In terms of trading software, HotForex offers forex traders the following applications:

  1. MetaTrader 4
  2. MetaTrader 5

In terms of research and education, HotForex offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. Economic Calendar
  2. Trader’s Board
  3. HotForex Educational Videos
  4. Trading Courses
  5. Forex e-Course and education
  6. Webinars and several others.

In terms of customer support, HotForex can be contacted through the following channels:

  • Facebook
  • Twitter
  • Telegram
  • Instagram
  • LinkedIn
  • Telephone, and several others.

In terms of the service area, HotForex serves traders from around the world except for traders from the United States. When compared to other forex brokers, HotForex offers the following unique sides and features:

  • A dynamic and versatile trading environment with many trading opportunities
  • Low commission fees
  • A choice between two popular, user-friendly, customizable trading platforms, namely MetaTrader 4 and MetaTrader 5
  • A large range of tradable instruments

HotForex is an active forex broker in Bulgaria with thousands of registered users. In terms of market share, HotForex is one of the most active brokers despite the competition present in forex trading.

In terms of privileges that HotForex offers to citizens from Bulgaria, it includes a choice in trading accounts and a range of bonuses and promotions.

The reason why so many forex traders use HotForex in Bulgaria relates to its security and safety of client funds, a plethora of trading opportunities, acceptance of many trading strategies, and flexibility of trading solutions.

To get more information, you can read the HotForex Forex Suggest review.

Forex Trading in Bulgaria

Bulgaria is an open European economy, upper-middle-income that is based on the export of minerals, production of chemicals, machine building, and several others.

While forex trading in Bulgaria saw an impressive increase of 20.7% in the past year, there is a lot of growth and development that must still happen. Forex trading is growing, and with more brokers that accept Bulgarian traders, more citizens can enter the market and emerge as forex trading.

Bulgaria is a member-state of the European Union, which means that forex guidelines and rules are set by the European Securities and Markets Authority (ESMA), which means that traders not only receive a safe trading environment but that there are some restrictions on leverage as well.

The Bulgarian government has already integrated forex trading in its regulatory framework, and forex brokers who wish to provide their services are urged to obtain licensing from relevant authorities such as the Financial Supervision Commission (FSC).

The FSC is the governmental body that is obliged to oversee financial activities that are not within the banking sector, such as trading in financial markets and forex.

    

What should be known for Forex Trading in Bulgaria

  • Regulations
  • Currency pairs
  • Trading platforms
  • Trading security
  • Costs

In terms of regulation, it is important that Bulgarian traders only make use of the regulated brokers provided on this list and others that have the relevant active regulation with FSC and other reputable entities.

Where trading currency pairs is concerned, Bulgarian traders have access to worldwide currencies in addition to trading the Bulgarian lev (BGN) against another major, minor, and exotic currencies.

Where trading platforms are concerned, Bulgarian traders have a choice between some of the best trading software there is when they deal with the brokers provided on this list.

Trading security is not an issue where these brokers are concerned. In addition, because Bulgaria is part of the EU and falls under ESMA, it provides additional coverage and security for Bulgarian traders.

Where costs are concerned, Bulgarian traders can expect some of the most competitive trading fees and spreads in the industry when they deal with these brokers.

Who are the Forex Regulators in Bulgaria?

The forex regulators in Bulgaria are:

  • Financial Service Commission (FSC)
  • Bulgarian National Bank

Is Forex Trading legal in Bulgaria?

Yes, forex trading is legal in Bulgaria, and there is a well-established regulatory framework in place.

How many Forex Traders are there in Bulgaria?

According to trusted sources, more than 40,000 forex traders reside in Bulgaria.

What do Bulgaria’s citizens think about Forex Trading?

Forex trading is not yet widespread in Bulgaria, but there is growing interest as more brokers reach the masses.

Best Forex Brokers for Beginners in Bulgaria

The best forex brokers for beginners in Bulgaria are:

  1. HotForex
  2. FXTM
  3. easyMarkets
  4. OctaFX
  5. Alpari

These brokers serve beginners the best because of choice in education that they offer.

Best Forex Brokers for Experts in Bulgaria

The best forex brokers for Experts in Bulgaria are:

  1. XTB
  2. Swissquote
  3. Questrade
  4. HYCM
  5. FBS

These are the best forex brokers for experts in Bulgaria because of the following:

  • Range of trading tools
  • Provision of expert market analysis, economical calendar, charting tools
  • Range of resource tools and sources

Best Forex Brokers for Other Countries

The best forex brokers for Montenegro are:

  1. Trading 212
  2. IQ Option
  3. ExpertOption
  4. eToro
  5. Olymp Trade

The best forex brokers for Romania are:

  1. FxPro
  2. FP Markets
  3. Admirals
  4. IC Markets
  5. eToro

The best forex brokers for Serbia are:

  1. Blackbull Markets
  2. FXTM
  3. FBS
  4. RoboForex
  5. XTB