According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- FSC (Bulgaria)
- 2005
Our Evaluation of Bulbrokers
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Bulbrokers is a moderate-risk broker with the TU Overall Score of 5.34 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Bulbrokers clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
Brief Look at Bulbrokers
Bulbrokers provides superior financial services being regulated by the FSC (РГ-03-0009/14.07.2008) in the EU and by the Bulgarian National Bank (BNB) in Bulgaria. Additionally, Bulbrokers is authorized by the FCA and by the Romanian National Securities Commission (CNVM).
Bulbrokers business activities fully comply with standards of multiple regulatory bodies and financial organizations the company is registered with - the Bulgarian Stock Exchange Sofia, The Central Depository, Investor Compensation Fund, The Bulgarian Association of the License Investment Intermediaries. Furthermore, the company operates strictly according to MiFID.
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- Strict cross regulation by the central banks of Bulgaria, Romania and financial commissions.
- In addition to MT4, a popular Forex platform, there is also a professional mobile version of Trader Workstation.
- Educational base.
- Information on the website is not updated. The news are dated 2017-2018, price widgets don’t show latest information.
- A large part of information on trading conditions is not available on the broker’s website.
Bulbrokers Trading Conditions
| 💻 Trading platform: | Trader Workstation, BG Trader |
|---|---|
| 📊 Accounts: | ECN, BSE-Sofia |
| 💰 Account currency: | USD, EUR, BGN |
| 💵 Deposit / Withdrawal: | Bank Transfer, Credit/Debit Cards |
| 🚀 Minimum deposit: | 100 USD |
| ⚖️ Leverage: | 1:40 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 EUR/USD spread: | 0,1 pips |
| 🔧 Instruments: | Forex, Stocks, CFDs |
| 💹 Margin Call / Stop Out: | 100%/20% |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | No |
| ➕ Affiliate program: | No |
| 📋 Order execution: | Instant Execution |
| ⭐ Trading features: | No |
| 🎁 Contests and bonuses: | No |
Bulbrokers Key Parameters Evaluation
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Trading Account Opening
A trader can start trading after opening a live account, which can be done directly on the broker's website. Here's a quick guide on how to open an account:
Go to the company's homepage and click "Open Live Account."
Individual traders need to check the "Individual Account" box.
Set the parameters for your future account: trading platform, base currency, and leverage size.
Select your country of residence from the list and provide other personal details in the form: first name, last name, gender, date of birth, and address.
Provide your phone number and email. These will be used by Bulbrokers staff to contact you.
After registering the account, the trader is can:
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Complete verification.
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Make a deposit.
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Install trading software.
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Manage the account.
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Generate trading reports.
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Open demo accounts.
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Submit withdrawal requests.
Regulation and safety
Bulbrokers has a safety score of 9.6/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Regulated in the UK
- Track record over 20 years
- Strict requirements and extensive documentation to open an account
Bulbrokers Regulators and Investor Protection
| Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
|---|---|---|---|---|
 FCA UK |
Financial Conduct Authority | United Kingdom | Up to £85,000 | Tier-1 |
| FSC (Bulgaria) | Financial Supervision Commission | Bulgaria | Up to €20,000 | Tier-2 |
| ASF (Romania) | Comisia Națională a Valorilor Mobiliare | Romania | Up to €20,000 | Tier-2 |
Bulbrokers Security Factors
| Foundation date | 2005 |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker Bulbrokers have been analyzed and rated as Medium with a fees score of 7/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- Above-average Forex trading fees
- Withdrawal fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Bulbrokers with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Bulbrokers’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Bulbrokers Standard spreads
| Bulbrokers | Pepperstone | OANDA | |
| EUR/USD min, pips | 0,2 | 0,5 | 0,1 |
| EUR/USD max, pips | 0,5 | 1,5 | 0,5 |
| GPB/USD min, pips | 0,3 | 0,4 | 0,1 |
| GPB/USD max, pips | 0,7 | 1,4 | 0,5 |
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
Bulbrokers RAW/ECN spreads
| Bulbrokers | Pepperstone | OANDA | |
| Commission ($ per lot) | 3,5 | 3 | 3,5 |
| EUR/USD avg spread | 0,1 | 0,1 | 0,15 |
| GBP/USD avg spread | 0,1 | 0,15 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Bulbrokers. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Bulbrokers Non-Trading Fees
| Bulbrokers | Pepperstone | OANDA | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0-0,4 | 0 | 0 |
| Withdrawal fee, USD | 0-0,35 | 0 | 0-15 |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
Deposit and withdrawal
Bulbrokers received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
Bulbrokers offers limited payment options and accessibility, which may impact its competitiveness.
- Low minimum withdrawal requirement
- Bank card deposits and withdrawals
- Minimum deposit below industry average
- Bank wire transfers available
- USDT payments not accepted
- Limited deposit and withdrawal flexibility, leading to higher costs
- Only major base currencies available
What are Bulbrokers deposit and withdrawal options?
Bulbrokers offers a limited selection of deposit and withdrawal methods, including Bank Card, Bank Wire, Skrill. This limitation may restrict flexibility for users, making Bulbrokers less competitive for those seeking diverse payment options.
Bulbrokers Deposit and Withdrawal Methods vs Competitors
| Bulbrokers | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | No | No | No |
What are Bulbrokers base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. Bulbrokers supports the following base account currencies:
What are Bulbrokers's minimum deposit and withdrawal amounts?
The minimum deposit on Bulbrokers is $100, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Bulbrokers’s support team.
Markets and tradable assets
Bulbrokers offers a limited selection of trading assets compared to the market average. The platform supports 0 assets in total, including 26 Forex pairs.
- Indices trading
- Multiple markets
- Crypto trading not available
- Limited asset selection
Supported markets vs top competitors
We have compared the range of assets and markets supported by Bulbrokers with its competitors, making it easier for you to find the perfect fit.
| Bulbrokers | Plus500 | Pepperstone | |
| Currency pairs | 26 | 60 | 90 |
| Total tradable assets | 2800 | 1200 | |
| Stocks | Yes | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | No | Yes | Yes |
| Stock indices | Yes | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products Bulbrokers offers for beginner traders and investors who prefer not to engage in active trading.
| Bulbrokers | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | No | No | Yes |
| PAMM investing | No | No | Yes |
| Managed accounts | No | No | No |
Contacts
| Foundation date | 2005 |
|---|---|
| Registration address | 18, Krakra Street, 1 floor Sofia |
| Regulation | FSC (Bulgaria) |
| Official site | bulbrokers.com |
| Contacts |
(+359 2) 4893 715, 4893 798, (+359 88) 6423 400
|
Comparison of Bulbrokers with other Brokers
| Bulbrokers | Bybit | Eightcap | XM Group | TeleTrade | IC Markets | |
| Trading platform |
MT4, Trader Workstation | MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5 | MT4, cTrader, MT5, TradingView |
| Min deposit | $100 | No | $100 | $5 | $10 | $200 |
| Leverage |
From 1:1 to 1:40 |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:1000 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | 1.00% | No |
| Spread | From 2 points | From 0 points | From 0 points | From 0.8 points | From 0.2 points | From 0 points |
| Level of margin call / stop out |
100% / 20% | No / 50% | 80% / 50% | 100% / 50% | 70% / 20% | 100% / 50% |
| Order Execution | Instant Execution | Market Execution | Market Execution | Market Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | Yes | No | No | No | Yes | No |
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