Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
3/10 · LowLicence RG-03-0156 confirmed in force on the Financial Supervision Commission's own register and widened in November 2025; the same regulator has fined the firm five times for compliance failures.
Identity & transparency
2/10 · LowEntity, number, LEI, capital, board and address all match across the commercial register, the regulator's register and the stock exchange member list, with a listed parent holding 99.8%.
Withdrawals & conduct
3/10 · LowNo complaints about money not coming back were found anywhere, but there is also no public account of a completed withdrawal to confirm the other direction.
Reputation
4/10 · ModerateThe stock exchange publicly recognised the firm in January 2026 and no consumer complaints exist, set against a regulator file of five penalty decrees between 2011 and 2020 and no client review base.
Website claims
2/10 · LowClaims match the registers; the only fault is stale English pages quoting an older licence date and a mistyped licence number, both of which understate rather than inflate the permissions.
Operational history
1/10 · LowCourt file from 1998, authorisation since July 1998, the Focal Point name since July 2008 and unbroken archive coverage of the domain since November 2009.
Who they are
A quick desk file on the company behind the brand.
- Brand: Focal Point (FPI), at focalpoint.bg
- Legal entity: Фоукал Пойнт Инвестмънтс АД / Focal Point Investments JSC, UIC 121712048, LEI 8945007Z03V9YKM35D18
- Registered: 73 Todor Aleksandrov Blvd, Vazrazhdane, 1303 Sofia, Bulgaria
- Website: https://www.focalpoint.bg (recorded as the firm's site by the Bulgarian Stock Exchange)
- Only licence: Financial Supervision Commission of Bulgaria, investment intermediary licence RG-03-0156, first granted 3 July 1998 and last widened 4 November 2025
- Owner: Zenith Investment Holding AD holds 99.8% of the shares; that holding company is itself listed on the Bulgarian Stock Exchange
- Offers: execution and transmission of orders in shares, bonds, rights and compensatory instruments on the Bulgarian Stock Exchange; discretionary portfolio management; investment advice; underwriting and placement; corporate finance and merger advisory
- Not offered: no forex, no CFDs, no leveraged retail trading, no bonuses, no mobile trading app
- Not accepted: the firm states it works only inside Bulgaria and has no representatives abroad
- Age claim: the site carries a 2009 to 2026 copyright line; the company file and its first authorisation both date from 1998
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Financial Supervision Commission (Komisiya za finansov nadzor), Bulgaria
Why we reached this verdict
How the evidence adds up.
Every load-bearing fact about this firm came back matching, from sources it does not control.
- The licence exists and is current. The Financial Supervision Commission's own register carries the firm under UIC 121712048 with status entered, and lists its licensing chain: authorisation 62-IP of 3 July 1998, licence decision 1087-IP of 8 November 2006, and decision 669-IP of 4 November 2025 expanding the licence to cover dealing on own account and underwriting. A supervisor does not broaden the permissions of a firm it distrusts.
- The identity triangle passes on all three legs. The name on the register matches the legal entity. The address (73 Todor Aleksandrov Blvd) and phone (+359 2 986 09 11) on the register match the website, and the Bulgarian Stock Exchange member list independently publishes focalpoint.bg as this firm's website. The regulator also records office@focalpoint.bg as its contact address. Nothing here belongs to another company.
- The corporate paper trail is complete. The Commercial Register shows a joint-stock company with a court file opened in 1998, board members named, capital of 918,000 EUR fully paid, and a scope of business updated on 14 November 2025 to match the new licence.
- There is a real enforcement history, and we are not going to bury it. The regulator's file records 15 supervisory acts and five penalty decrees against the firm: 1,000 BGN in 2011, 1,000 BGN in 2017, 5,000 and 10,000 BGN for MiFIR transaction-reporting breaches in 2019, and 35,000 BGN for 21 breaches of the call-recording duty under Article 70(1) of the Markets in Financial Instruments Act, served in July 2020. Eleven further proceedings from 2019 were terminated without penalty. All of it concerns records and reporting. None of it concerns client money, and the last act is dated January 2020.
- No warning anywhere. The firm does not appear on the regulator's list of companies operating without a licence, and no regulator warning, enforcement action for fraud or court record naming this entity or this domain came up.
- Long, unbroken history. Archive coverage of focalpoint.bg runs continuously from November 2009 to 2026 with no gap, no parked period and no change of brand. The company itself has traded under this name since July 2008 and under the earlier name Evro Garant AD before that, as the same legal entity with the same registration number.
- What we could not find is a client review base. There is no Trustpilot page for the domain and no consumer reviews on Bulgarian business directories, in either direction. For a domestic securities intermediary that publicly states it does no marketing and has no outside agents, that is unsurprising, and the firm leaves plenty of other public trace: exchange membership, published offering mandates and the regulator's own file. It does mean nobody has publicly confirmed a completed withdrawal either, which is why this is not scored at the very bottom of the scale.
Risk-profile adjustment: the evidence-based score was 22%. It is presented as 65% because no reviews of any kind across 4 platforms, which our policy treats as elevated risk regardless of how little was found against this broker.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Financial Supervision Commission register lists FOCAL POINT INVESTMENTS AD, company number 121712048, LEI 8945007Z03V9YKM35D18, status entered, at 73 Todor Aleksandrov Blvd, Sofia, with contact email office@focalpoint.bg and phone +359 2 986 09 11.
E2The same register entry lists the firm's licensing chain: authorisation 62-IP of 3 July 1998, licence decision 1087-IP of 8 November 2006, and decision 669 of 4 November 2025 expanding the licence to add dealing on own account and underwriting.
E3The regulator's published decisions for November 2025 confirm decision 669-IP of 04.11.2025 expanding the licence of investment intermediary Focal Point Investments AD at 73 Todor Aleksandrov Blvd, Sofia.
E4The Bulgarian Commercial Register shows the joint-stock company FOCAL POINT INVESTMENTS JSC, UIC 121712048, court file 9246/1998, registered at 73 Todor Aleksandrov Blvd Sofia, capital 918,000 EUR fully paid, board of three, and a scope of business updated on 14 November 2025 to match the widened licence.
E5The same register file at 1 June 2008 shows the identical company number 121712048 under the earlier name EVRO GARANT AD, already carrying investment-intermediary activity, which establishes the rename as one continuous legal entity.
E6The Bulgarian Stock Exchange member list carries Inv. Intermediary Focal Point Investments AD, links it to http://www.focalpoint.bg, and gives the same Sofia address and phone number, independently tying the domain to the licensed entity.
Hard proofBulgarian Stock Exchange, members listE7The regulator's enforcement file for this firm records 15 supervisory acts and 34 penalty rows, resolving to five penalty decrees: 1,000 BGN in 2011, 1,000 BGN in 2017, 10,000 and 5,000 BGN in 2019 for breaches of Article 26 of Regulation 600/2014, and 35,000 BGN served 29 July 2020 for 21 breaches of Article 70(1) of the Markets in Financial Instruments Act. Eleven 2019 proceedings were terminated without penalty.
E8The regulator's list of companies with no licence to act as an investment intermediary or management company does not name Focal Point Investments or focalpoint.bg.
E9The Bulgarian Stock Exchange named Focal Point Investments AD, alongside two other firms, as an intermediary with the highest activity working with issuers in 2025, at an awards ceremony on 15 January 2026.
E10The firm's own about page states licence RG-03-0156 dated 19.04.2023 under resolution 1087-IB/08.11.2006 and names Zenith Investment Holding as its group. It lists the pre-November 2025 service set, so the English pages understate the current permissions, and it publishes a scanned certificate rather than a link to the register.
E11The firm published a warning dated 3 March 2021 stating that it operates only on Bulgarian territory from a single Sofia office, does no cold-calling or unsolicited marketing, has no authorised third-party representatives, accepts payment only into two named United Bulgarian Bank accounts, and does not operate in Greece or North Macedonia. It names EF PI Brokers EOOD and EF PI Front Office EOOD as parties misusing its name.
E12The firm publishes a full set of client-facing documents required of an EU investment firm: general terms amended to reflect decision 669-IP of 04.11.2025, a fee tariff in euro, client asset valuation rules, client categorisation rules, an order execution policy, a conflict of interest policy, a remuneration policy and internal whistleblowing rules.
E13Archived captures of focalpoint.bg run continuously from 22 November 2009 to January 2026 with at least one successful capture per year, no gap and no change of brand or business on the domain.
E14Certificate transparency records for focalpoint.bg go back to September 2017 and cover only the firm's own hosts (www, mail, webmail, cpanel and an fpp subdomain), with no sign of look-alike or parallel branding on the domain.
E15The firm's capital market page describes trading in shares of public companies, compensatory instruments, rights, municipal and corporate bonds and off-market registrations through the Deutsche Boerse T7 platform, with commission from 2% and a minimum charge. No forex, CFD or leveraged product is offered.
E16No consumer review presence exists for focalpoint.bg. There is no Trustpilot page for the domain and Bulgarian business directories carrying the company show no reviews, positive or negative.
The other side
The strongest case in this broker’s favour.
The case against a clean verdict, stated as strongly as it can be:
- Five penalty decrees and 52,000 BGN of fines is not nothing. A firm that repeatedly failed to record client calls and report transactions correctly over a decade had a weak compliance function for a long time.
- The English pages have drifted. They still describe the pre-November 2025 service set and quote the licence as dated 19.04.2023, while the Bulgarian pages and the certificate carry 01.12.2025, and the Bulgarian page prints the number as RG-03-156 rather than RG-03-0156. Careless, though it under-states rather than over-states what the firm is allowed to do.
- No independent client voice exists. With no reviews at all, there is no public account of anyone getting money out, and our confidence rests on registers rather than on customer experience.
- The firm does not publish a link to its own register entry, only a scanned certificate. Checking it takes a reader more work than it should.
- Fraudsters have used this firm's name. In March 2021 the company published a warning that people were collecting money in its name, naming EF PI Brokers EOOD and EF PI Front Office EOOD, and stating that it operates only in Bulgaria and not in Greece or North Macedonia. Anyone who was approached by a Focal Point representative outside Bulgaria was not dealing with this company.
Against all of that: the licence is live and was recently widened, the ownership is a listed company, the address is confirmed by three separate official sources, and the national exchange publicly recognised the firm in January 2026.
What would change this
What we would need to see to revise the verdict.
Concrete things that would move this verdict:
- A Financial Supervision Commission decision withdrawing, suspending or narrowing licence RG-03-0156, or the register entry changing from entered to struck off.
- Any regulator warning, in Bulgaria or elsewhere, naming focalpoint.bg or Focal Point Investments AD as unauthorised.
- A new supervisory act after 2020 touching client assets, client money segregation or order execution rather than record-keeping.
- Credible, specific client accounts of withdrawals or asset transfers being refused, with amounts, dates and reference numbers, on more than one platform.
- Any demand for a fee, tax or unlocking payment before funds are released. That single pattern would change the assessment immediately.
- The firm advertising forex, CFDs or leveraged products, or soliciting clients outside Bulgaria, which would put it well outside the business its licence and its own published statements describe.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Financial Supervision Commission register entry
The regulator's own file: entity details, licensing decisions and enforcement record.
Bulgarian Commercial Register, UIC 121712048
Company file: legal name, registered address, board, capital and scope of business.
Bulgarian Stock Exchange members list
The exchange's official member list, which records this firm's website and phone.
FSC list of companies with no licence to act as an investment intermediary
The regulator's blacklist of unlicensed operators. This firm does not appear on it.
The firm's own warning about people using its name
Published March 2021: the company operates only in Bulgaria and names impersonators.
FSC investor warning about fake brokers impersonating licensed firms
Regulator guidance on how impersonation of supervised firms works, published June 2026.
Frequently asked questions
Quick answers about this broker’s safety.
Is Focal Point Investments a scam?
No. Focal Point Investments AD is a licensed Bulgarian investment intermediary. Its licence, RG-03-0156, appears on the Financial Supervision Commission register under company number 121712048, and the regulator expanded that licence on 4 November 2025. The company details on the register match the address, phone number and email domain published on focalpoint.bg.
Is Focal Point Investments a fraud?
We found no evidence of fraud. There is no regulator warning naming this firm or its website, no enforcement action for fraud and no fraud-related court record against the entity. The firm does not appear on the Financial Supervision Commission list of companies operating without a licence. The regulator has fined it for record-keeping and reporting failures, which is a compliance matter and not an allegation of dishonesty.
Who regulates Focal Point Investments?
The Financial Supervision Commission of Bulgaria, the national authority that supervises investment firms under the EU MiFID II framework. The firm has held an authorisation since 3 July 1998, was relicensed under decision 1087-IP of 8 November 2006, and its current permissions were widened by decision 669-IP of 4 November 2025.
Can I withdraw my money from Focal Point Investments?
We found no complaints about withdrawals or asset transfers being refused, on any platform. We also found no public account confirming a completed withdrawal, because the firm has essentially no consumer review footprint. As a licensed intermediary it must hold client assets separately from its own, and clients are covered by the Investor Compensation Fund if the firm fails.
Is my money safe with Focal Point Investments?
Client assets sit under Bulgarian and EU investment-firm rules, including the segregation requirements of MiFID II. Retail clients are covered by the Bulgarian Investor Compensation Fund, which pays 90% of the value of a client's assets up to a statutory cap of 40,000 BGN, but only if the firm becomes insolvent or loses its licence. Nothing protects you from ordinary investment losses.
Who owns Focal Point Investments?
Zenith Investment Holding AD holds 99.8% of the shares. That holding company is itself listed on the Bulgarian Stock Exchange under the ticker ZNTH, so the ownership chain is publicly disclosed rather than hidden behind nominees. The board members are named in the Bulgarian Commercial Register.
How old is Focal Point Investments?
The company file dates from 1998 and its first investment-intermediary authorisation was granted on 3 July 1998. It traded as Evro Garant AD until July 2008, when the same legal entity took the Focal Point Investments name. The website focalpoint.bg has been archived continuously since November 2009.
Was Focal Point Investments previously called something else?
Yes. The same company, with the same registration number 121712048, was registered as Evro Garant AD and changed its name to Focal Point Investments AD on 25 July 2008. This is a renaming of one continuous entity, not a new company taking over an old licence, and we found no adverse history attached to the former name beyond a 2004 narrowing of its permissions that has since been reversed.
Has Focal Point Investments ever been fined?
Yes. The Financial Supervision Commission register records five penalty decrees totalling 52,000 BGN: 1,000 BGN in 2011, 1,000 BGN in 2017, 5,000 and 10,000 BGN for transaction-reporting breaches under MiFIR in 2019, and 35,000 BGN served in July 2020 for 21 breaches of the duty to record client calls. Eleven other proceedings opened in 2019 were terminated without penalty. The most recent act is dated January 2020.
Does Focal Point Investments offer forex or CFD trading?
No. It is a securities intermediary. It offers shares of Bulgarian public companies, municipal and corporate bonds, rights, compensatory instruments, portfolio management and corporate finance advice, trading on the Bulgarian Stock Exchange through the Deutsche Boerse T7 platform. We found no leveraged retail products, no bonuses and no trading app.
Is Focal Point Investments a clone of another broker?
No. Its licence number, registration number, entity name and address all belong to it and to no one else. The problem runs the other way: in March 2021 the firm published a warning that other people were collecting money in its name, naming EF PI Brokers EOOD and EF PI Front Office EOOD, and confirming that it works only inside Bulgaria and not in Greece or North Macedonia.
Someone contacted me about Focal Point from abroad. Is that them?
Almost certainly not. The company states that it operates only on Bulgarian territory, from a single Sofia office, that it does no cold-calling or unsolicited marketing, and that it has no authorised third-party representatives. It accepts payments only into its own published bank accounts. Treat any offer that does not match that as an impersonation attempt.
How do I check the licence myself?
Open the Financial Supervision Commission public register of investment intermediaries and search by the company number 121712048. The firm's entry lists its status, its licensing decisions and its supervisory record. The company's own site publishes a scanned certificate rather than a link to the register, so the direct entry is included in the links on this page.
What should I check before depositing?
Confirm the register entry is current, confirm the bank account you are asked to pay into is one the company publishes itself, read the tariff (commission starts at 2% with a minimum charge, which is high compared with international brokers), and read the general terms and order execution policy. Keep every instruction in writing.
What we recommend
The practical takeaway from everything above.
Reasonable precautions for anyone considering this firm:
- Check the licence yourself on the Financial Supervision Commission register before you sign anything. The firm does not link to it, so the entry is listed below.
- Confirm you are dealing with the real company. It has one office, at 73 Todor Aleksandrov Blvd in Sofia, one phone number and one email domain, focalpoint.bg. It says it does not cold-call, does not use outside agents and does not operate abroad.
- Never pay into an account you were given by phone or messaging app. The firm publishes its bank details itself.
- Read the general terms and the tariff before signing. Commission on Bulgarian Stock Exchange trades starts at 2% with a minimum charge, which is expensive next to international brokers, so size your orders accordingly.
- Know the safety net. Bulgarian licensed intermediaries belong to the Investor Compensation Fund, which pays 90% of a retail client's assets up to a statutory cap of 40,000 BGN, and only if the firm fails or loses its licence. It does not cover investment losses.
- If anyone contacts you offering Focal Point investments from outside Bulgaria, treat it as an impersonation attempt and report it to the Financial Supervision Commission.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed September 4, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.