Finding a broker that supports your preferred base currency could be a challenge, so this list of the 5 Best BGN Account Forex Brokers are often employed by Bulgarian citizens who don’t want to incur additional fees by funding their trading accounts with other major currencies.
Currency conversions can significantly decrease the worth of your investment due to exchange rates and could discourage many Bulgarian citizens from trading.
To accommodate Bulgarians, several trusted Forex brokers have allowed clients to fund their accounts using BGN, which is the native Bulgarian currency.
Rank Broker Regulations Min. deposit Rating Open account MiFID, FSA, ASIC, BVI, FFAJ, FSCA, ADMG, FRSA FCA, FSA, FSCA, DFSA, CySEC, FSC CySEC, FCA, SFSA, FSCA, CBCS, FSA, FSC $10 ASIC, FCA, FSCA $50 $100 $50 FCA, ASIC, CFTC, FINMA, MAS, JFSA, DIFC $0 FCA, KNF, CySEC, IFSC $200Top 10 Brokers for 2024
Our 3 Best BGN Account Forex Brokers are:
🏆 DeltaStock
🏆 Admirals
🏆 Trading 212
DeltaStock
An ECN and STP broker with full authorization from the FSC in Bulgaria, DeltaStock was founded in that country in 1998.
Trading activities, technical analysis, fundamental analysis, and other analyses can all be done by traders using the robust trading platforms that DeltaStock makes available to them.
Traders can use the analytical and charting tools, user-friendly interface, and high customizability of DeltaStock’s proprietary trading platform, Delta Trading.
DeltaStock Pros and Cons:
| ✔️Pros | ❌Cons |
| Well-regulated broker | US Clients are not accepted |
| More than 1,100 financial instruments offered | Limited account funding options |
| Sophisticated trading platforms | Spreads are not the tightest |
| Range of useful, advanced trading tools |
Admirals
As a client of Admirals, you have access to more than 8,000 markets where you can trade in Forex, commodities, indices, stocks, ETFs, and bonds.
USD 1 ASIC, FCA, EFSA, CySEC 📱 Platforms MT4, MT5, Admirals app ₿ Crypto Yes 💵 Account Currency USD, CHF, EUR, BGN, HRK, PLN, RON, CZK, HUF, GBP Yes 1:30 🛒 Instruments Forex, Commodities, Indices, Stocks, ETFs, Bonds 🏛️ Visit Broker
Minimum Deposit
Regulators
Islamic Account
Leverage
Since there are more than 3,000 Share ETFs available at Admirals, we advise using it if you’re interested in commission-free stock trading.
Admirals is also a fantastic choice if you are new to trading, a professional trader, or if you want to be an affiliate or business partner.
Admirals Pros and Cons:
| ✔️Pros | ❌Cons |
| Great range of research tools | Cash rebates only available to UK and Australian clients |
| Variety of accounts offered | Penalty fee for inactivity |
| Negative balance protection | |
| Good selection of educational content |
Trading 212
Overall Rating USD 1 FCA, CySEC, FSC 📱 Platforms Trading212 mobile and web apps ₿ Crypto No 💵 Account Currency USD, EUR, GBP No 1:300 🛒 Instruments Stocks, Indices, Commodities, Forex 🏛️ Visit Broker
3.2/5
Minimum Deposit Regulators Islamic Account Leverage
A UK-based forex broker named Trading212 provides over 2,500 CFDs in addition to over 10,000 stocks and ETFs overall.
Customers of Trading212 have access to round-the-clock customer service and can earn returns on investments starting at just 1 GBP.
The Invest account and the CFD account, both of which can be opened with less than $20, are the two account types that Trading212 offers.
Pros and Cons of Trading212:
| ✔️Pros | ❌Cons |
| 180 Forex pairs | Website feels outdated |
| Commission-free investments | No US clients |
| Negative balance protection | No Islamic accounts |
| No withdrawal or deposit fees on CFD account | Account creation is delayed when the server is busy |
XM
XM is a 2009-founded, fully-licensed Forex broker that has won numerous awards over the years.
Overall Rating USD 5 ESMA, CySEC, ASIC, FCA, IFSC, DFSA 📱 Platforms Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform ₿ Crypto No 💵 Account Currency USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB Yes 1:1000 🛒 Instruments Commodities, Forex, Stocks, Crypto, Metals, Shares, Energies 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account Leverage
196 countries’ citizens can access XM, which has more than 5 million customers and offers multilingual customer support that is available around-the-clock.
Additionally, XM provides personal account managers, unlimited access to video tutorials, and market research.
XM Pros and Cons:
| ✔️Pros | ❌Cons |
| User-friendly website | Fixed spreads not offered |
| Low minimum deposit | Not available to US clients |
| Negative Balance Protection | Inactivity is penalised |
| Promotions and signup bonuses |
IC Markets
Overall Rating USD 200 FSA, CySEC, ASIC 📱 Platforms MT4, MT5, cTrader ₿ Crypto Yes 💵 Account Currency AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD, CHF Yes 1:500 🛒 Instruments Stocks, Commodities, Indices, Forex, Bonds, Crypto, Futures 🏛️ Visit Broker
4.8/5
Minimum Deposit Regulators Islamic Account Leverage
IC Markets provides three different kinds of trading accounts.
The website of IC Markets, a top-rated broker for beginners, offers trading guides.
More than 1,980 instruments are available at IC Markets, which also offers spreads starting at 0 pip.
We advise day traders, scalpers, and EA traders to use IC Markets.
IC Markets Pros and Cons:
| ✔️Pros | ❌Cons |
| No inactivity fees | No USA clients |
| No withdrawal fees | Commission fees on ⅔ accounts |
| 2,250+ instruments |
Conclusion
Bulgarian citizens face greater challenges when finding a suitable Forex broker because of exchange rates and the lack of brokers that allow the funding of accounts with BGN.
The lack of compatibility with the native currency of Bulgaria may lead to incurring additional transaction costs and a low minimum deposit in dollars will be a lot higher in BGN, which could discourage Bulgarian traders from investing at all.
Thankfully, the 5 Best BGN Account Forex Brokers have found a way to accommodate Bulgarian citizens by allowing them to fund their trading accounts with BGN.
Good luck with your trading!
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Disclaimer
Remember, 75% of retail investors lose money when trading CFDs and there is a high risk of losing your capital in the forex markets.
The information on this website is in no way intended to be used as financial advice and opening an account with any broker is done at your own discretion and risk.
FAQ
Can forex trading be profitable in Bulgaria?
Yes, trading forex can be a profitable endeavour that brings in money for traders. However, to do this successfully, one needs time, commitment, patience, a sound trading strategy, and a trading plan.
How secure is online forex trading?
By using regulated and authorized brokers with high-level end-to-end encryption on their websites, traders can trade forex with confidence. This protects the confidentiality of their information and ensures that all transactions are safe.
Which brokers offer BGN accounts?
Our 3 Best BGN Account Forex Brokers are:
- DeltaStock
- Admirals
- Trading 212
