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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
Authorities Crack Down on Bulgarian Crypto Firm Nexo
Bulgarian authorities have launched multiple raids on the local Nexo cryptocurrency firm, a major and multimillion dollar company. 15 offices have been
Binary Options Trading Fraud Raids in Bulgaria Lead to €30 Million Seizure
A major raid operation in connection to a binary options trading scam was conducted in Bulgaria by the local authorities. The official
Austria’s FMA warns against Bulgarian brokerage Digital Exchange Limited
Unregulated Forex brokerageD igital Exchange Limited has been blacklisted by the The Austrian Financial Market Authority (FMA). The country’s main financial regulatory
Unregulated brokerage CgTrade exposed as scam by Bulgaria’s FSC
Unregulated Forex brokerage CgTrade has been blacklisted by the The Bulgarian Financial Supervision Commission. The country’s main financial regulatory suspects them being
UK’s FCA warns against OMC Markets
OMC Markets is yet another unregulated Forex brokerage that has been added to the long warning list of the Financial Conduct Authority
Bulgarian OmegaFX falls on the radar of Austria’s FMA
Unregulated Forex brokerage OmegaFX has been blacklisted by the The Austrian Financial Market Authority (FMA). The country’s main financial regulatory suspects them
Bulgarian brokerage NoviFX blacklisted by Spain’s CNMV
Unregulated Forex broker NoviFX, along with several other alleged scammers, have been the latest additions to the warning list of Spanish financial
New Zealand’s FMA blacklists Bulgarian One Coin Limited
Unregulated Forex brokerage OneCoin has just been added to the warning list of New Zealand Financial Markets Authority on suspicions it is
Italy’s CONSOB issues warning against shady Marshall Islands-based companies
The unregulated Forex brokerage PBN Capital registered in Bulgaria and the Marshall islands has been added to the warning list of the
Italy’s CONSOB warns against unregulated brokerage Codexfx.com
The unregulated Forex brokerage CodeFX registered in Bulgaria and the Marshall islands has been added to the warning list of the Italian
Bulgarian court shuts 40 illegal forex and binary options websites
The Sofia Regional Court blocked the access to 40 websites, offering forex, CFD and binary options trade form Bulgaria, without proper authorization
