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Online Forex trading isn’t very widespread in Bulgaria but there are quite a few traders in the country and many foreign brokerages target Bulgarian clients. Bulgaria is also a member-state of the European Union which means that all the guidelines and rules set by the European Securities and Markets Authority (ESMA) are in force in Bulgaria as well. They include a cap on the leverage of 1:30, negative balance protection, segregation of accounts and so forth.
Furthermore, the government has integrated Forex trading within its regulatory framework and there are several Bulgarian forex brokerages that are licensed by the relevant authorities, that is, by the Financial Supervision Commission. The Commission is the governmental body which is charged with the oversight of financial activities outside of the banking sector. Its website is quite informative and available in English for the convenience of foreigners. It also keeps and updates a list of regulated entities, as well as issues warnings regarding companies suspected to be scammers.
Being a member of the EU means that major Forex brokerages registered and regulated elsewhere in Europe may provide such financial services to Bulgarian traders unhindered. They need only register formally with the FSC and have their license reviewed and approved as legitimate.
The most popular payment methods in Bulgaria are Bank wire, Visa and MasterCard, as well as e-wallets like Skrill, Neteller and PayPal.
Forex news from Bulgaria
Unregulated Forex brokerage OmegaFX has been blacklisted by the The Austrian Financial Market Authority (FMA). The country’s main financial regulatory suspects them
Unregulated Forex broker NoviFX, along with several other alleged scammers, have been the latest additions to the warning list of Spanish financial
Unregulated Forex brokerage OneCoin has just been added to the warning list of New Zealand Financial Markets Authority on suspicions it is
The unregulated Forex brokerage PBN Capital registered in Bulgaria and the Marshall islands has been added to the warning list of the
The unregulated Forex brokerage CodeFX registered in Bulgaria and the Marshall islands has been added to the warning list of the Italian
The Sofia Regional Court blocked the access to 40 websites, offering forex, CFD and binary options trade form Bulgaria, without proper authorization