Bulbrokers Review 2023
Bulbrokers EAD offers FX & CFD trading on a choice of leading online platforms.
Trusted
Demo Account
MetaTrader 4
Forex Trading
Trade over two-dozen forex pairs with high leverage rates.
Stocks Trading
Trade on dozens of Bulgarian & global stock indices.
CFD Trading
Mix up your trading with leveraged CFD products.
Crypto Trading
Not Available
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.

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.

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

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.
Pros
If you decide to trade with Bulbrokers, you benefit from:
- MT4 and TWS platforms
- Range of assets to trade
- EU regulated
Cons
There may be several drawbacks to registering for a Bulbrokers account:
- Transparency issues and missing information
- Limited funding methods
- No live chat
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.
- Email – forex@bulbrokers.com
- Telephone – (+359) 2 4893 715
For beginners or those looking for a reliable customer support team, Bulbrokers is probably not the best option.
Security
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.
Payment Methods
Bulbrokers Details
Minimum Trade | 0.01 lots |
---|---|
Regulated By | FSC, FCA, CNVM |
Islamic Account | No |
Mobile Apps | Yes |
Margin Trading | No |
Volatility Index | No |
Spot Trading | No |
Perpetual Swaps | No |
ELWs | No |
REITs | No |
AI / Machine Learning | No |
Robo Advisor | No |
P2P Trading | No |
Negative Balance Protection | No |
VPS Hosting | No |
Tournaments | No |
Demo Competitions | No |
Managed Accounts | No |
Market Maker | No |
Auto Trading | Yes – EAs compatible |
Social Trading | No |
Guaranteed Stop Loss | No |
CFD Trading Details
FTSE Spread | Floating |
---|---|
GBPUSD Spread | Floating |
Oil Spread | Floating |
Stocks Spread | Floating |
Leverage | 1:200 |
Forex Trading Details
GBPUSD Spread | Floating |
---|---|
EURUSD Spread | Floating |
EURGBP Spread | Floating |
Assets | 26 |
Compare Bulbrokers
Compare Bulbrokers with similar brokers that accept traders from your location. Among available brokers these are the most similar to Bulbrokers:
-
OANDA – OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is authorized by leading regulators, including the CFTC/NFA. Around the clock support is available, alongside flexible contract sizes and automated trade executions.
Go to OANDA -
Webull – Webull is a US-regulated trading app that offers stocks, options, forex, cryptos, ETFs, fractional shares and more. The firm is authorized by the SEC and FINRA with a strong trust rating. Low fees, no minimum investment and generous bonuses have made the discount broker popular with online investors.
Go to Webull -
Forex.com – Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they offer a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
Go to Forex.com
Bulbrokers Comparison Table
Bulbrokers | OANDA | Webull | Forex.com | |
---|---|---|---|---|
Rating | 2.5 | 4.5 | 4.4 | 4.5 |
Markets | Forex, CFDs, indices, shares, futures, options, bonds | Forex | Stocks, ETFs, options, cryptos, forex, ADRs, fractional shares, OTCs | Forex, CFDs, Stocks, Indices, Commodities, Cryptos, Futures, Options |
Demo Account | Yes | Yes | Yes | Yes |
Minimum Deposit | $100 | $0 | $0 | $100 |
Minimum Trade | 0.01 lots | $0 | $5 | $1 |
Regulators | FSC, FCA, CNVM | CFTC, NFA | SEC, FINRA | CySEC, IIROC, NFA, CFTC, FCA, CIMA, CIRO |
Bonus | – | $5,000 welcome bonus with a deposit of $500 | Six free stocks | – |
Education | No | Yes | Yes | Yes |
Platforms | MT4 | MT4, TradingView, AutoChartist | – | MT4, MT5, TradingView, AutoChartist, TradingCentral |
Leverage | 1:200 | 1:30 EU, 1:200 Global | – | 1:200 |
Payment Methods | 1 | 12 | 3 | 8 |
Visit | – | Visit | Visit | Visit |
Review | Bulbrokers Review |
OANDA Review |
Webull Review |
Forex.com Review |
Compare Trading Instruments
Compare the markets and instruments offered by Bulbrokers and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
Bulbrokers | OANDA | Webull | Forex.com | |
---|---|---|---|---|
CFD | Yes | No | No | Yes |
Forex | Yes | Yes | Yes | Yes |
Stocks | Yes | Yes | Yes | Yes |
Commodities | No | Yes | No | Yes |
Oil | No | No | No | Yes |
Gold | No | Yes | No | Yes |
Copper | No | Yes | No | No |
Silver | No | Yes | No | Yes |
Corn | No | Yes | No | No |
Crypto | No | Yes | Yes | Yes |
Futures | Yes | No | No | Yes |
Options | Yes | No | Yes | Yes |
ETFs | No | No | Yes | No |
Bonds | No | Yes | No | No |
Warrants | No | No | No | No |
Spreadbetting | No | No | No | No |
Volatility Index | No | No | No | No |
Bulbrokers vs Other Brokers
Compare Bulbrokers with any other broker by selecting the other broker below.
FAQ
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.