FSC licence РГ-03-0009/14.07.2008

By email at forex@bulbrokers.com or by telephone on +359 2 4893 715, between 09:00 and 17:00. There is no live chat. Note that the address circulated for the brand, on Sheinovo Street in Sofia 1504, is not the registered office recorded in the company register, which is bul. Tsar Osvoboditel 14 in Sofia 1000.

This cannot be answered. The firm publishes no restricted-countries list, no accepted-countries list and no registration form that we were able to read, so there is no basis for saying which residents it will or will not onboard. As a Bulgarian investment intermediary its natural market is Bulgaria and the European Union, but that is not a statement of its onboarding policy.

No processing time is published for any withdrawal channel. The funding routes on offer are bank transfer, card and an over-the-counter cash desk, all of which normally settle in days rather than instantly, but the firm commits to no timeframe that we could read.

Accounts are funded in USD, EUR or BGN by bank transfer, credit or debit card, or in cash at a cash register. The firm charges no deposit fee, although bank and card issuer charges fall to the client. Cash register withdrawals above 1,000 BGN carry a 0.20% commission, rising to 0.40% in foreign currency above the equivalent of 1,000 BGN.

Costs are commission-based and depend on the platform. US share trading starts at 0.015 USD per share, and European shares and ETFs start at 0.15% of the trade value. Spreads on the forex and CFD offering are not published, so the full cost of a currency trade cannot be worked out in advance.

Around 25 currency pairs, Bulgarian and international stock indices, and CFDs on MetaTrader 4. Trader Workstation extends this to shares, futures, options and bonds, which is a broader range than most forex-first brokers offer.

Two platforms. MetaTrader 4 carries the forex, index and CFD offering, and Trader Workstation is used for the wider securities range. There is no proprietary platform.

Maximum leverage is 1:200 on the MetaTrader 4 platform. Whether lower caps apply to particular instruments is not published.

The minimum deposit is not published. No figure could be established from any source we were able to read, so anyone considering an account would need to ask the firm directly and get the answer in writing.

Nothing found in this review shows BULBROKERS to be fraudulent, and the company behind it is demonstrably real, incorporated in 1997 with paid-up capital of 566,100 EUR. The problem is current standing rather than existence: the licence could not be confirmed with the regulator, the regulator withdrew part of the firm's permissions in 2018, and the public website was not serving. Treat it as unverified rather than clean.

The operating company is Bulbrokers EAD, UIC 115152520, and its entire capital is held by a single shareholder, Financia Group AD, UIC 175321311. Both companies are registered at bul. Tsar Osvoboditel 14 in Sofia and both appear on the Bulgarian Commercial Register. The board of Bulbrokers EAD is named in the register.

Bulbrokers EAD is recorded in Bulgaria's official company register as an investment intermediary, but its authorisation was not confirmed against the Financial Supervision Commission's own register in this review, so it stands as claimed rather than confirmed. The company register does document a Financial Supervision Commission decision about the firm, which is strong evidence the authority supervises it. No licence number is published anywhere we could read.