Bulbrokers Review 2022

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Bulbrokers EAD offers FX & CFD trading on a choice of leading online platforms.

InstrumentsForex, CFDs, indices, shares, futures, options, bonds
Demo AccountYes
Min. Deposit$100
Payment Methods
Min. Trade0.01 lots
Regulated ByFSC, FCA, CNVM
MetaTrader 4Yes
MetaTrader 5No
ECN AccountNo
DMA AccountNo
Mobile AppsYes
Auto TradingYes - EAs compatible
Social TradingNo
Copy TradingNo
Islamic AccountNo
CFD TradingMix up your trading with leveraged CFD products.
CFD FTSE SpreadFloating
CFD GBPUSD SpreadFloating
CFD Oil SpreadFloating
CFD Stocks SpreadFloating
CFD Leverage1:200
Forex TradingTrade over two-dozen forex pairs with high leverage rates.
Forex GBPUSD SpreadFloating
Forex EURUSD SpreadFloating
Forex EURGBP SpreadFloating
Forex Assets26
Risk Warning – Your capital is at risk

Bulbrokers offers tradable assets as well as institutional consulting services and asset management. Find out if Bulbrokers is safe or a scam as we uncover licenses, trading platforms, fees, online bonuses, and more in this review.

Bulbrokers Headlines

Bulbrokers EAD is a financial services provider based in Bulgaria and regulated in the EU by the Financial Supervision Commission (FSC), the UK Financial Conduct Authority (FCA), and the Romanian National Securities Commission (CNVM).

The broker offers over 16 years of experience to over 30,000 customers worldwide, from Bulgaria to Greece, providing access to currencies, options, futures, shares, indices, bonds, and funds.

Trading Platforms

Trader Workstation

TWS is a powerful fully-featured platform offering direct interbank access to bonds, stocks, futures, options, and forex on over 100 global markets. The platform uses advanced technology that routes and re-routes orders to achieve optimal execution.

The platform supports over 50 order types as well as comprehensive fundamental and technical analysis. There’s also access to a range of additional tools, including BookTrader, OptionTrader, and SpreadTrader.

Bulbrokers TWS
Bulbrokers TWS

MetaTrader 4

Bulbrokers offers the MT4 platform for trading FX and CFDs and provides access to the Bulgarian Stock Exchange (BSE-Sofia). MT4 is favoured by many for its ease of use and powerful interface, offering custom charting tools for technical analysis, historical data, live quotes, and access to Expert Advisors for automated trading.

Bulbrokers MT4
Bulbrokers MT4

The platform can be downloaded from the website once you’ve created a live or demo account.


Bulbrokers offers over 25 currency pairs, dozens of Bulgarian and global stock indices, plus CFD contracts on the MT4 platform. The TWS platform also provides access to a range of other assets including futures, options, and bonds. While a reasonable range of products, the list of forex pairs is modest and the broker doesn’t offer cryptocurrency trading.

Trading Fees

Bulbrokers charge commissions depending on the platform used. In TWS, stock trading commissions start at 0.015 USD per share for US stocks. For European stocks, commissions start from 0.15% of the stock of ETF value. A full but complex list of commissions can be found on the website, but transparency is lacking when it comes to floating spreads.


You can leverage up to 1:200 on the MT4 platform. This review was disappointed to see a lack of information surrounding the margin call process and any leverage variations between products.

Mobile Trading Review

The MT4 mobile app is free of charge and comes with easy one-touch trading functionality, technical indicators, financial news, and live prices. You can download the app from the iPhone App Store or Google Play for Android.

The TWS platform is also available on smartphones, providing access to over 100 markets with account management tools, charting analysis, and real-time quotes.

Deposits & Withdrawals

Funding is rather limited at Bulbrokers and is only available in USD, EUR, or BGN by bank transfer, credit/debit card, or cash register. Bulbrokers does not charge any deposit fees, but any intermediary bank or card fees are the responsibility of the client.

For withdrawals over 1,000 BGN via cash register, the commission is 0.20%. Withdrawals using foreign currency will cost 0.40% for amounts over the currency equivalent of 1,000 BGN (around 600 USD).

Demo Account

Demo accounts are available in both the MT4 and TWS platforms, which can be used to test the trading environment and experience live prices. The TWS PaperTrader practice account allows you to trade with 1,000,000 USD in virtual funds. Instructions on how to set up the demo accounts are provided on the website.

Bonuses & Deals

At the time of writing, Bulbrokers does not offer any deposit bonuses or promotional deals. You can follow the brokers’ social media pages or website for any future offers.

Bulbrokers Licensing

Bulbrokers is registered as a financial institution by the Bulgarian National Bank (BNB) and is regulated by the Financial Supervision Commission (FSC). The broker is also subject to limited regulation by the UK Financial Conduct Authority (FCA) and the Romanian National Securities Commission (CNVM).

Bulbrokers is a member of the Bulgarian Stock Exchange, the Investor Compensation Fund and is regulated according to the Markets in Financial Instruments Directive (MiFID).

Additional Features

Apart from some short pages on technical analysis and a glossary, Bulbrokers does not offer much in terms of educational content or resources. Fortunately there are some additional tools within the MT4 and TWS platforms, including access to trading robots and strategy tools such as OptionTrader. There is also an economic calendar, though it isn’t kept up to date.

Bulbrokers economic calendar
Bulbrokers economic calendar

Overall, you will find a more comprehensive set of website features and training resources at other brokers.

Bulbrokers Accounts

Bulbrokers offers a single account structure for forex and CFD trading. Unfortunately, traders won’t find any information on account specifications on the broker’s website. The lack of detail indicates another transparency concern and a poorly managed website.

Professional and institutional traders will need to get in touch with the broker directly about investment portfolios and other institutional services.


If you decide to trade with Bulbrokers, you benefit from:


There may be several drawbacks to registering for a Bulbrokers account:

Trading Hours

Trading hours for all instruments depend on the server opening times of the trading platform you are using. You can access operating hours by logging into MT4 or TWS and clicking on the instrument specifications.

Customer Support

Help is available between 09:00 and 17:00 ET via email or telephone. Unfortunately Bulbrokers does not offer a live chat service.

For beginners or those looking for a reliable customer support team, Bulbrokers is probably not the best option.


The MT4 and TWS platforms use encryption processes and two-factor authentication (2FA) to protect client data within the servers. 2FA is an optional feature that allows you to add email and phone verification at the login stage.

Bulbrokers Verdict

Bulbrokers offers a decent selection of assets, two popular trading platforms and mobile solutions, however, the lack of transparency and coherence around account details is disappointing. Despite the EU licenses, there are a few reasons in this review to question whether Bulbrokers is safe and trustworthy.

Accepted Countries

Bulbrokers accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use Bulbrokers from United States.

Compare Bulbrokers

Compare Bulbrokers with similar brokers that accept traders from your location. Among available brokers these are the most similar to Bulbrokers:

  1. IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
  2. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
  3. Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.
  4. AAAFx – AAAFx offers CFD trading in forex, commodities, indices and cryptocurrencies.

Bulbrokers Comparison Table

Compare Bulbrokers With Similar Brokers
Bulbrokers IG Group LQDFX Forex.com AAAFx
Rating 4.4 4.5
Markets Forex, Stocks Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto
Demo Account Yes Yes Yes Yes Yes
Minimum Deposit $100 £250 $20 $100 $10
Minimum Trade 0.01 lots 0.1 lots 0.01 lots $1 0.01 lots
Bonus 100% deposit bonus up to $20,000 No 100% Deposit Bonus available for Global clients
Education Yes Yes Yes No
Platforms MT4 MT4 MT4 MT4 MT4, MT5
Leverage 1:200 1:30 1:100 – 1:500 1:200 1:30 EU, 1:500 Global
Payment Methods 1 6 8 8 8
Detailed Comparison Bulbrokers vs IG Group Bulbrokers vs LQDFX Bulbrokers vs Forex.com Bulbrokers vs AAAFx
Review Bulbrokers
IG Group

Compare Trading Instruments

Compare Bulbrokers Trading Instruments
Bulbrokers IG Group LQDFX Forex.com AAAFx
CFD Yes Yes Yes Yes Yes
Forex Yes Yes Yes Yes Yes
Stocks Yes Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil No Yes Yes Yes No
Gold No Yes Yes Yes Yes
Copper No Yes Yes No No
Silver No Yes Yes Yes No
Corn No No No No No
Crypto No Yes Yes Yes Yes
Futures Yes Yes No Yes No
Options Yes Yes No Yes No
ETFs Yes No No No
Bonds Yes No No No
Warrants No No No No
Spreadbetting No Yes No No No
Volatility Index Yes No No No

Bulbrokers vs Other Brokers

Compare Bulbrokers with any other broker by selecting the other broker below.

Bulbrokers vs


Is Bulbrokers regulated?

Bulbrokers EAD is regulated by the Financial Supervision Commission (FSC) in Bulgaria, the Financial Conduct Authority (FCA) in the UK, and the Romanian National Securities Commission (CNVM).

Does Bulbrokers offer a demo account? 

Yes, you can open a demo account in the MT4 or TWS platforms. Clients get a hefty bankroll and full access to simulated trading products.

Does Bulbrokers accept clients from the USA? 

No, Bulbrokers does not accept US clients. Traders from most other countries are accepted, however.

How do I open a Bulbrokers account? 

You can open a live account from the main website page. You will need to provide your personal details and select your chosen platform and base currency before verifying your account.

How can I deposit into my Bulbrokers account?

You can fund your account via bank transfer, credit/debit card, or by using a cash register at the main office.

Bulbrokers EAD offers FX & CFD trading on a choice of leading online platforms.