You already know that starting investing is a significant milestone in your financial life, but now you may wonder, “Where should I open my investment account?”. The search for a commission-free stock broker may be daunting!
Through cost-benefit analysis, we’ve compiled four online brokers as our top picks for the best brokers in Bulgaria. We’ve listed the following factors that investors like you always take into account: fees (commission-free trading), investment platforms, the range of markets and instruments available, and education resources.
These are our suggestions for the best investing apps in Bulgaria:
Plus500 is a multi-asset online broker that offers no commissions when trading CFDs in Indices, Forex, Commodities, Cryptocurrencies, Shares, Options, and ETFs. It also recently launched Plus500 Invest for those who want to invest in real shares. See our Plus500 summary.
Disclaimer: 81% of retail CFD accounts lose money.
✔️ All of them are authorized to operate in Bulgaria by the Financial Supervision Commission. As such, all are under investor protection schemes.
Comparison of commission-free stock brokers in Bulgaria
- Demo Account
- Account minimum
- US stocks
- EU stocks
- Currency Conversion Fee
- Investor Compensation Scheme(per person, per instituion)
- Visit eToro
The leading social trading platform with 30M+ users worldwide. Copy other traders/investors, invest in one of the pre-built portfolios, or trade for yourself.
- $50**It varies between countries
- $0**Not all ETFs are offered with 0% commissions.
- Starts from 0.50%
- FCA, CySEC and ASIC.
Up to €20,000 for clients under eToro (Europe) Ltd; Up to £85,000 for clients under eToro (UK) Ltd.
- Trading 212
- Visit Trading 212
Trading 212 is an online broker that lets you trade stocks, ETFs, and CFDs. It offers commission-free trading and a robo-advisor feature. Free share worth up to €100 with the Trading 212 promo code: “IITW”.
- 0.15%**0.50% in CFDs trading.
- FCA and FSC.
Up to £85,000.
- Visit Plus500
Plus500 is an online broker offering several financial tradable securities such as stocks and a wide CFDs product portfolio with competitive spreads.
- $0.006 per share
- It varies according to each country stock exchange
- Not Applicable
- Up to 0.70%
- FCA, CySEC, FSCA, FMA and ASIC.
Up to £85,000 for clients under Plus500UK Ltd.
- Revolut Trading
- Visit Revolut Trading
Revolut Trading, a feature inside the Revolut App, gives you access to US stocks, precious metals, and cryptos. In the basic plan, users have 1 free trade every month.
- One free trade per month**Afterwards, it varies according to your country of residency.
- Not Applicable
- Not Applicable
- 0% up to €/£1,000 per month**0.40% above the €/£1,000 of free allowance.
- SEC, FCA and FINRA.
Doesn’t apply. More about it in “Revolut Safety and Regulation“.
Best Brokers in Bulgaria
Founded in 2006, eToro is a well-known worldwide fintech startup and the leader in the social trading field (follow other people’s trades), with over 30 million users worldwide. You can also invest in other products through their platform, which is intuitive and simple to use, making it a good choice for beginners. Plus, eToro offers commission-free stock trading in Europe.
Opening an account and depositing is easy, and you can even try it out with virtual money (demo account). On the downside, spreads can be high for some products. The only currency accepted (base currency) is the USD, which means that you’ll be charged currency conversion fees upon deposit and withdrawal if you deposit in another currency.
If you want to learn more, check our eToro Review.
eToro Pros and Cons
- Commission-free stock trading
- Social Trading and other innovative products
- Wide variety of financial products
- Slick, modern, and easy for anyone to use
- Top tier regulators
- Limited disclosed financial information
- Withdraw and inactivity fees
- Spread, overnight, inactivity, and currency conversion fees higher than average
- Only one base currency account (USD)
2# Plus500 - Best for CFDs
Plus500 at a glance
Founded in 2008, Plus500 is an online broker offering a wide range of financial products, including real shares and CFDs on forex, indices, shares, commodities, options, ETFs, and cryptocurrencies. It is available in over 50 countries and is listed on the London Stock Exchange.
There are two distinct account types:
- Plus500 CFD: It only focuses on CFD products;
- Plus500 Invest: Where you can trade stocks (real shares);
As a side note, Trade Sniper, a platform only available for US users and where you can trade Futures, is also part of the Plus500 group.
The web platform you will use is the WebTrader, Plus500’s proprietary platform, offering a stable trading experience and easy access from multiple devices, including a mobile app. All platforms are easy to use and responsive, and you can start testing the features by opening a demo account.
Their customer support is helpful and easy to assess through a chat that is always shown on the trading platform. Their spreads are low, and they offer accounts in sixteen currencies, including USD, EUR, and GBP. Still, they charge a 0.70% currency conversion fee and a $10 monthly fee following three months with no activity. On Plus500 Invest, they only charge a small commission per trade (US market: $0,006/share).
Finally, it is regulated by financial regulators like the FCA and CySec, meaning that Plus500 is appropriately supervised and that there is an investor protection scheme under the entity you open an account with. For instance, If you open an account as a European investor through Plus500CY Ltd, you are protected up to €20,000. Additionally, Plus500 provides negative balance protection for CFD trading on a per-account basis – only to retail clients from the European Union.
Want to know more about Plus500? Check our Plus500 Review.
Plus500 Pros and Cons
- Easy-to-use and responsive platform
- Low spreads
- No dealing commissions
- Demo Account
- Top-tier regulators
- No ETF offering
- Inactivity fee ($10 per month after no login activity in 3 months)
- High overnight funding fees
- Very little research and education provided
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3# Trading 212 - Best for Beginners and Autoinvest
Trading 212 at a glance
Founded in 2006, Trading 212 is a fintech based in London that aims to democratize the entire investment process through a simple mobile application. The company aims to do this by allowing anyone to invest in over 10,000 stocks and ETFs, Forex, commodities, CFDs, and cryptocurrencies. Over 15 million people have already downloaded the app. In 2017, it was the trading app with the most downloads in Germany and, since 2016, it has remained 1st in the United Kingdom.
In Trading 212, you will find commission-free stocks and ETFs trading, fractional shares, and even an automatic investment system (Robo-advisor). Opening an account is extremely quick and easy. On the downside, it shows limitations regarding available products, such as the lack of bonds and options. It charges a 0.15% currency conversion fee when buying assets in a currency different from your base account.
Within the app, you will notice two distinct sub-platforms: Trading 212 Invest, where you can trade a range of assets free of charge and trading 212 CFD, where you may trade leveraged financial products (CFDs).
If you want to learn more, check our Trading 212 Review.
Trading 212 Pros and Cons
- Commission-free Real Stocks and ETFs trading
- AutoInvest & Pies feature
- Fast and easy account opening process
- Demo account
- Top Tier Regulators
- Limited product portfolio (no Options, Bonds, Mutual Funds or Futures)
- No relevant Fundamental tools
- Spreads on Forex CFDs may be high in certain trading hours
- Foreign exchange fees (0.15% and 0.50% in “Invest” and “CFDs” accounts, respectively)
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Founded in 2019, Revolut Trading is part of the Revolut app (existing since 2015) and provides its users with an efficient way to invest (all in one place). It only allows investment in American stocks (+750 companies) free of charge for up to 1 transaction per month, cryptocurrencies with a charge of 1.99% or EUR 0.99 per trade (whichever is higher), and gold and silver with a spread of 0.25% when the market is open. On the other hand, there are no inactivity or withdrawal fees.
The app is super intuitive, and the account opening process is 100% digital, fast, and secure. Unfortunately, it still has a very low offer of financial products, and the account can only be denominated in dollars. Some of the non-accessible assets are the following ones: ETFs, CFDs, Forex, bonds, and options. Furthermore, it does not have any educational or market research material, and it charges an annual custody fee of 0.12%.
Learn more in our in-depth Revolut Trading Review.
Revolut Trading Pros and Cons
- Simple trading platform
- Easy account opening process
- At least, one free trade per month
- Low trading commissions
- No inactivity fee
- Low product offering (ETFs and other financial products are missing)
- Investments not covered by the Financial Services Compensation Scheme
- Annual custody fee of 0.12%
|1#||eToro||Best for commission-free Stocks|
|2#||Plus500||Best for CFDs trading|
|3#||Trading 212||Best for beginners and autoinvest|
|4#||Revolut||Best for simplicity|
Which platform should you choose?
Some factors you should know when choosing an online broker are the fees charged if it is regulated by top-tier institutions such as the FCA in the UK, the range of products it allows you to trade (not all platforms allow you to trade EU stocks), among others.
The best online broker in your specific case will depend on your profile, preference, and objectives. Explore the websites above and decide for yourself!
A reminder that the above should not be seen as investment advice and should be considered information only. Investors should do their own research and diligence about the best-suited services and opportunities for their risk, returns, and impact strategy.
Hope we helped, and leave your comments below.
Other FAQs about Brokers in Bulgaria
How to invest in stocks from Bulgaria?
You can use one of the online brokers shown above: eToro, Trading 212, Plus500 or Revolut.
What is a brokerage company?
It is an entity designed to be the middleman between you and the people you are trying to buy or sell a stock, ETF, crypto,… you name it!
Which broker is best in Bulgaria?
There is no single answer. It depends on what you value most: fees, security, investment platform or any relevant feature.
What are the types of investments you can make with a brokerage account?
You can trade stocks, ETFs, Forex, Bonds, Futures and CFDs on stocks, ETFs, indices, cryptocurrencies, and commodities.
Is Webull available in Bulgaria?
No, Webull is not available in Bulgaria.