Overall Score51 / 100The Wikilix trust rating of DE NOVO, out of 100, built from the five factors below.The licences it claims have not been checked on any official register, and our investigation found it appears legitimate.Regulation27%Identity95%Client terms50%Trading offer50%Service65%Score last calculated 2026/10/18
Fair50 to 64. A mixed record: some strengths, some open questions. Read the details before you deposit.Why: The licences it claims have not been checked on any official register, and our investigation found it appears legitimate.
51 out of 100 · 61% checkedThe share of the record we could verify. What we could not check counts as unknown and pulls the score toward the middle, never down.· Provisional
Do not trust
High risk
Fair
Good
Excellent
The licences it claims have not been checked on any official register, and our investigation found it appears legitimate.
RegulationWhether a financial authority supervises this broker: the licences it holds, whether we verified them on the official register, how strong that regulator is and what protection it gives clients. Worth 35 points of 100.
27Poor
IdentityWho is behind it and for how long: a company registration we verified, years of verified history, how openly it names its entity, address and owners, and whether its website is intact. Worth 15 points.
95Excellent
Client termsHow fair the client agreement is: the risk found in our policy review, the number of critical clauses, withdrawal rules, and whether the terms say the same in every language. Worth 15 points.
50Fair
Trading offerWhat trading costs and how clearly it is disclosed: pricing per account type, the all-in cost of EURUSD, instruments, platforms, leverage against regulated limits and the minimum deposit. Worth 20 points.
50Fair
ServiceHow clients are treated: support channels, complaints about withdrawals and reputation from our investigation, and reviews by WIKILIX members. Worth 15 points.
65Good
We checked DE NOVO on 2026-10-18 across its regulation, company record, client terms, trading offer and service, and could verify 61% of its record. It claims 1 licence on its site, but none has been checked on an official register yet. The score of 51 is what the checked record adds up to; nothing held it down. The rating stays provisional until a claimed licence is checked on an official register. What would move the score: licence held by the onboarding entity, policy risk, critical clauses. Our published investigation found it appears legitimate, with 14.6 years of track record. Its client terms have not been reviewed yet.
What Wikilix has recorded about DE NOVO: its history, the licences it holds, its trading conditions and its fees.
DE NOVO Broker Overview
DE NOVO is the trading name of Де Ново EAD, a Bulgarian sole owner joint-stock company registered in Sofia under unified identification code 201850473 and incorporated on 12 January 2012. It operates as an investment intermediary rather than as a retail contracts-for-difference shop, offering access to Bulgarian and international equities, mutual fund and exchange traded fund units, corporate and government bonds, exchange traded options on XETRA, contracts for difference on shares and commodities, standard and margin foreign exchange trading, and a discretionary individual portfolio management service. The company publishes no trading platform, account tier, spread or leverage information on its website.
DE NOVO Regulation and License
The operating entity is Де Ново EAD, UIC 201850473, registered in Sofia, Bulgaria. On its own the company states that its activity is directly regulated by the Markets in Financial Instruments Act and by Ordinance No.38 of the Financial Supervision Commission on the Requirements to the Activity of Investment Intermediaries, and that it is directly supervised by the Financial Supervision Commission. It also states membership of Central Depository AD and of the Bulgarian Stock Exchange in Sofia.
That standing is corroborated by the entity's own entry in the Bulgarian Commercial Register, which records Де Ново EAD under special conditions as an investment intermediary and sets out a scope of business covering reception and transmission of orders in financial instruments, execution of orders for the account of clients, dealing on own account, portfolio management, investment advice and the underwriting and placement of issues. The company does not publish a licence number anywhere on its website, and the authorisation was not verified against the authority's own register for this profile. On that basis the regulatory position is best described as stated by the company and corroborated by the commercial register, but not independently confirmed against the supervisor.
Is DE NOVO Regulated?
The company presents itself as a supervised Bulgarian investment intermediary, and the commercial register records it as one, so this is not an unregulated offshore operation. What is missing is the specific licence reference: no permit number, issue date or scope document is published in English, so a prospective client cannot check the authorisation themselves from the website alone.
Де Ново EAD
Де Ново EAD is wholly owned by ДЕ НОВО ПАРТНЕРС AD, UIC 203975034, a Bulgarian joint-stock company incorporated on 16 March 2016 and registered at the same Sofia address. The parent's registered scope is consultancy, market research and the management of shareholdings, and it holds no investment services permission of its own, so the entity a client contracts with is Де Ново EAD. Paid-in capital of the operating company stands at EUR 808,095 across 1,584,500 shares, and its board of directors comprises Йордан Дамянов Попов, Петър Николов Манов and Христо Иванов Братинов.
Is DE NOVO Safe?
The corporate side of this firm stands up to checking: a single consistent legal entity, active on the national register, at the street address it publishes, with a fourteen year record and audited annual reports filed for every year from 2012 to 2025. Set against that, the company publishes almost none of the commercial detail a retail client would need before funding an account, and the pages on its own site headed Client Protection, Disclaimer and Legal Stuff carry unfinished placeholder text rather than the protections they promise. Regulation and corporate longevity reduce the risk of the operator disappearing; they do not substitute for terms a client can read before depositing.
DE NOVO Spreads, Commissions and Fees
The company publishes a Schedule of Fees and Commissions and General Terms, both as Bulgarian-language documents, and updated its fee schedule on 1 August 2025 to reflect the introduction of the euro in Bulgaria. No spread, commission or financing figures are published in English, and no minimum deposit is stated.
DE NOVO Trading Platforms
No trading platform is named on the company's website. The order-driven services are described in terms of markets and instruments rather than software, and there is no download page, web terminal or platform section.
DE NOVO Deposits and Withdrawals
The company publishes no deposit or withdrawal page, no payment methods and no processing times or limits. Funding arrangements are handled through the client relationship rather than documented publicly.
DE NOVO Support
Support runs on office hours rather than around the clock: the team is available every working day from 9:30 to 17:00 on +359 2 9505 194 or +359 2 9506 123 and by email at contact@denovo.bg, from the office at 28 Hristo Belchev Street, 1000 Sofia. The company states that clients may correspond in Bulgarian, English, French, German, Hungarian or Russian, but that contractual documents are prepared only in Bulgarian and English.
DE NOVO Pros and Cons
Strengths
A single, named, verifiable legal entity active on the Bulgarian Commercial Register at its published address.
Recorded on that register as an investment intermediary with a full scope of investment services, and stated by the company to be supervised by the Financial Supervision Commission.
A fourteen year operating record with annual reports published continuously from 2012.
Broad instrument access across equities, funds, bonds, options, contracts for difference and foreign exchange, plus discretionary portfolio management.
Limitations
No licence number is published, so the authorisation cannot be checked from the site.
No spreads, commissions, minimum deposit, leverage, account tiers or trading platform are disclosed.
No deposit or withdrawal information of any kind is published.
The Client Protection, Disclaimer and Legal Stuff pages are unfinished placeholder text.
The binding documents are available only in Bulgarian, which limits what a non-Bulgarian-speaking client can read before signing.
DE NOVO Review and Assessment
DE NOVO reads as a long-established local investment intermediary serving Bulgarian and institutional clients through a relationship-led onboarding process, not as an internationally marketed retail brokerage. Its identity and its regulatory framing hold up well; its public disclosure does not. The single most important step before opening or funding an account is to obtain the licence reference and the General Terms directly from the company and, if you do not read Bulgarian, to secure a binding English version of the documents you will be held to.
Website archive
Captured
Website snapshots
10 full-page captures of DE NOVO's own site, archived so what they said can still be read after the pages change.
Every licence DE NOVO has in force is from an offshore regulator. Most carry no compensation scheme — each licence's record says what the issuing regulator actually requires.
1 of 1 checked
Licences on recordEvery licence or registration recorded for this broker, whether the broker claims it or our check found it.
1
Confirmed on registerLicences we located on the issuing regulator's own public register, with a screenshot taken at the time.
1
Tier 1 or 2Licences from tier-1 or tier-2 authorities (FCA, ASIC, CySEC and peers), the strongest client protection. A registration we could not confirm as a licence is not counted.
0
OffshoreLicences from offshore registers, which typically carry no compensation scheme and lighter oversight.
1
WIKILIX
Licence intelligence
The only licence on file
Licence Verification Record
Financial Supervision CommissionРГ-03-0238
Wikilix read the FSC register on Sep 5, 2026. This is what it said.
Name on the register
Де Ново EAD
Jurisdiction
BulgariaOffshore
Authority strength
Tier 3
Licence type
Dealing in securities
Register status
Active
Effective
Jan 3, 2012
Shown on the DE NOVO website
Shown
Checked
Checked Sep 5, 2026
Permissions
инвестиционен посредник (investment intermediary)
What our check found
Bulgaria's statutory financial regulator and an EU member-state competent authority under MiFID II; it licenses and supervises investment intermediaries and requires membership of the Investor Compensation Fund. Client protection: EU MiFID II conduct and client-asset rules, segregation of client money and instruments, and membership of the Bulgarian Investor Compensation Fund (client-asset compensation scheme).. Effective: 03 Jan 2012.
Client protection under this licence
Compensation schemeDepositors’ Compensation Scheme covers up to £50,000 per individual depositor
Negative balance protection
Complaints routecomplaints handled by regulated entity or Financial Services Ombudsman
Maximum leverage1:30
These are the rules FSC sets for the firms it licenses. They are not a statement about how DE NOVO applies them, or about which of its companies would hold your account.
A licence record describes what an authority published. It is not an endorsement, and Wikilix does not issue authorisations.
No country restrictions on record. We looked and found nothing published — which is not the same as being open to everyone. Check DE NOVO's terms.
How we know — 6 sources
1No country restriction or eligibility list was located on any page of the company's own website, so no jurisdiction has been placed in any list. Absence of a stated block is not treated as acceptance.
2Client agreement and terms: the company's documents page at http://www.denovo.bg/about-us-3 links its General Terms and its Schedule of Fees and Commissions, both published only as Bulgarian-language documents. Those documents are the location where an eligibility or restricted-jurisdiction clause would normally sit, and their contents were not read in this assessment, so no conclusion is drawn from them either way.
3Dedicated countries page: no such page is published. The paths /restricted-countries, /prohibited-countries, /accepted-countries and /where-we-operate all return not found, and a site search returned no results.
4Signup form country list: the company publishes no online account-opening or registration form. http://www.denovo.bg/admin is an access-controlled client login rather than an onboarding form, so no enforced country list exists to read.
5AML policy, funding page and partner terms: none are published. The paths /aml, /deposit, /withdrawal, /funding and /payment-methods all return not found.
6Footer disclaimer and language variants: the footer carries only a general statement that the site's content is informational and not legally binding, and names no jurisdiction. The pages linked as Client Protection, Disclaimer and Legal Stuff at http://www.denovo.bg/client-protection, http://www.denovo.bg/disclaimer and http://www.denovo.bg/Legal-Stuff are published with unfinished placeholder text rather than content. The site offers English and Bulgarian variants, and the Bulgarian switch currently returns a server error.
Social channels
Social Presence
One official channel on record.
1 channel
Legal entities
Corporate Network
2 legal entities behind the DE NOVO brand.
2 entities
Де Ново EAD (De Novo EAD)ActiveBulgaria·Registration 201850473·Established Jan 12, 2012The operating entity. Recorded in the Bulgarian Commercial Register under special conditions as an investment intermediary, with a scope of business covering reception and transmission of orders, execution of orders for client account, dealing on own account, portfolio management, investment advice and underwriting. Paid-in capital EUR 808,095 across 1,584,500 shares. Board of directors: Йордан Дамянов Попов, Петър Николов Манов, Христо Иванов Братинов.
ДЕ НОВО ПАРТНЕРС AD (DE NOVO PARTNERS JSC)ActiveBulgaria·Registration 203975034·Established Mar 16, 2016Sole owner of the capital of the operating entity, per the Bulgarian Commercial Register. A holding and advisory company whose registered scope is consultancy, market research and the acquisition and management of shareholdings, not investment services. Registered at the same Sofia address. Represented jointly by Симеон Методиев Петков and Йордан Дамянов Попов.
Company registry check
Checked
Company Registration
The operating company is Де Ново ЕАД (De Novo EAD). Registered in Bulgaria. Registration number 201850473.
Verified on registry
Legal entity
Де Ново ЕАД (De Novo EAD)
Registration number
201850473
Jurisdiction
Bulgaria
Incorporated
Jan 12, 2012
Registry
Commercial Register and Register of Non-Profit Legal Entities (Bulgarian Registry Agency)
Registered address
ul. Hristo Belchev 28, Sredets district, Sofia 1000, Bulgaria
Peer comparison
Brokers worth comparing
2 other brokers on the record share what DE NOVO offers — its country, regulator, account types or platforms — set beside it on the same measures.
Because the operating entity is a Bulgarian company recorded as an investment intermediary, complaints would in principle run to the Financial Supervision Commission and to Bulgarian courts, and the company is a member of Central Depository AD and of the Bulgarian Stock Exchange in Sofia. The practical difficulty is that the company's own Client Protection page is published with unfinished placeholder text, so it sets out no complaints procedure, no compensation arrangements and no statement on how client money and instruments are held. Those protections should be established in writing before an account is funded.
Yes. The company offers a discretionary individual portfolio management service in which client assets are managed at its own discretion without separate instructions, across three portfolio types that differ by structure, risk level and permitted instruments. It describes the service as aimed at wealthier individuals with longer-term horizons and at institutional investors such as insurance and health insurance companies, and clients may impose their own limits on the investment process.
By telephone on +359 2 9505 194 or +359 2 9506 123, by email at contact@denovo.bg, or in person at 28 Hristo Belchev Street, 1000 Sofia. The company states its team is available every working day from 9:30 to 17:00. There is no live chat and no support ticket portal.
The company publishes no list of accepted or restricted countries, and it has no online registration form, so there is no country selector that would reveal which residencies it onboards. Its offering, its office and its market focus are Bulgarian, and it says clients may correspond in Bulgarian, English, French, German, Hungarian or Russian. Eligibility has to be confirmed with the company directly.
This is not published. The company states no withdrawal processing time anywhere on its website, and its withdrawal terms sit inside its Bulgarian-language General Terms rather than on a public page. Getting the withdrawal timetable in writing before depositing is a reasonable precaution with any firm that does not publish it.
The company publishes no deposit or withdrawal information at all: no payment methods, no fees, no processing times and no limits, and it has no funding or payments page. Funding is evidently arranged through the client relationship rather than documented publicly, so the terms on which money can be paid in and taken out are not knowable before contacting the firm.
None is named. The company describes its services in terms of markets and instruments rather than software, and publishes no platform section, no web terminal and no download links. It does operate an access-controlled client login area, and it says online messaging is available for contacting support.
No maximum leverage is published. The site confirms that margin foreign exchange trading and margin contracts for difference are offered, but states no leverage ratio for any instrument or account. As a Bulgarian investment firm it would fall within European retail leverage limits, but since the company publishes no figure of its own, none is stated here.
DE NOVO offers a wider instrument range than a typical retail forex broker. Its own services pages list shares on the Bulgarian Stock Exchange in Sofia, on the Frankfurt Stock Exchange and XETRA and on international markets, mutual fund and exchange traded fund units, corporate bonds including the Eurobond market, Bulgarian government bonds on both the primary and secondary markets, exchange traded options on XETRA, contracts for difference on shares and commodities, and both standard and margin foreign exchange trading.
The company publishes a Schedule of Fees and Commissions, most recently updated on 1 August 2025 to reflect the introduction of the euro in Bulgaria, but only as a Bulgarian-language document. No spreads, commissions or financing charges are stated in English on any page, so the cost of trading cannot be established from the English site alone.
The company does not publish a minimum deposit. No figure appears anywhere on its website, and its account-opening terms are set out only in its Bulgarian-language General Terms. Anyone considering an account should ask the company directly for the minimum in writing before committing funds.
Since 12 January 2012, which is the first entry date on its Bulgarian Commercial Register record, giving it a fourteen year operating history. That is corroborated by the company's own site, which carries a 2012 copyright line and publishes annual reports for every year from 2012 through 2025.
Nothing found in this assessment supports calling DE NOVO a scam. The company is a real, named, active Bulgarian legal entity that has been on the national commercial register since January 2012, files annual reports every year, and publishes a live corporate events service for the Bulgarian market. The genuine criticism is disclosure rather than legitimacy: the site does not publish a licence number, any trading conditions, or any funding terms, and three of its own legal pages are unfinished.
The operating company is Де Ново EAD, a Bulgarian sole owner joint-stock company with unified identification code 201850473, registered at 28 Hristo Belchev Street, 1000 Sofia. Its entire capital is held by ДЕ НОВО ПАРТНЕРС AD, UIC 203975034, a Bulgarian holding and consultancy company at the same address. The operating company's board of directors comprises Йордан Дамянов Попов, Петър Николов Манов and Христо Иванов Братинов.
DE NOVO states on its own About Us page that its activity is directly supervised by the Financial Supervision Commission and governed by the Markets in Financial Instruments Act and FSC Ordinance No.38 on the activity of investment intermediaries. The Bulgarian Commercial Register independently records the operating entity under special conditions as an investment intermediary, which corroborates that framing. The claim is nonetheless unconfirmed in one important respect: the company publishes no licence number, so the authorisation itself was not checked against the supervisor's own records for this profile.
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