Best Online Brokers in Bulgaria 2026
FSC-regulated and MiFID II-passported brokers for Bulgarian investors — ranked by fees, 10% flat CGT (one of EU's lowest), BGN currency and Sofia Stock Exchange access.
✅ FSC / MiFID II EU
🇧🇬 10% Flat CGT (EU's lowest)
💶 5% Dividend WHT
📊 BSE Sofia / SOFIX
💱 BGN (pegged to EUR)
🔄 Last updated: September 2026 · Reviewed by WhichBroker Research Team
⚠️ Risk warning: Investing involves risk of loss. Capital is not guaranteed. Some links on this page are affiliate links — this does not affect our rankings.
What to check before choosing a broker in Bulgaria
Bulgaria offers one of the most investor-friendly tax environments in the EU — a flat 10% personal income tax rate that applies to all income including capital gains. Combined with a 5% dividend withholding tax, Bulgaria's tax burden on investments is among the lowest in the European Union. Bulgaria uses the Bulgarian lev (BGN), which is pegged to the euro at a fixed rate through a currency board arrangement.
1. Regulation: FSC and MiFID II. The Financial Supervision Commission (FSC — Комисия за финансов надзор) is Bulgaria's financial regulator for capital markets. Bulgaria is a full EU member — MiFID II passporting applies in full. Verify regulated firms at fsc.bg.
2. CGT: 10% flat — tied with Romania for EU's lowest. Bulgaria applies a flat 10% personal income tax (данък върху доходите) to all income categories, including capital gains from securities. Unlike most EU countries, there is no separate CGT regime — it's part of the unified 10% flat tax. There is no annual CGT exemption, but capital losses can generally be offset against gains in the same year. For EU/foreign brokers, declare in your annual tax return (Годишна данъчна декларация) with the National Revenue Agency (NRA / НАП) by 30 April each year.
3. Dividend tax: 5% WHT. Bulgarian company dividends carry a flat 5% withholding tax (данък при източника), consistent with the general flat tax framework. For foreign dividends, the same 10% income tax rate applies, with credits under applicable double tax treaties. Declare in your annual return by 30 April.
4. Currency: BGN pegged to EUR (1 EUR = 1.95583 BGN). Bulgaria's BGN is pegged to the euro through a hard currency board arrangement — effectively the tightest EUR peg of any non-Eurozone EU member. This means minimal FX risk for EUR-denominated investments, though formal currency conversion is still required. Bulgaria has been targeting Eurozone accession; EU-based EUR brokers (DEGIRO, XTB) require a BGN → EUR bank conversion.
5. Bulgarian Stock Exchange (BSE Sofia) — small but growing. The SOFIX index is Bulgaria's main stock market benchmark, covering the 15 most liquid companies. Key stocks include First Investment Bank (5F4), Eurohold Bulgaria (6A6), Monbat (5MB), Sopharma (3JR), and Chimimport (6H3). The BSE Sofia is relatively small — most Bulgarian retail investors access international markets through EU-passported brokers.
Top 4 Best Online Brokers in Bulgaria — Detailed Reviews
Commission
€0 up to €100k/month
Stocks
✓ 3,000+ global stocks
CFDs / Forex
✓ Full CFD/FX
Currency
EUR (BGN FX needed)
Interest on cash
✓ Up to 4%
DG
DEGIRO
★★★★½
Best low-cost EU
Commission
€1 + €1 handling
Investor protection
€20,000 (AFM)
TR
Trade Republic
★★★★☆
Best savings rate
Savings plans
✓ From €1/month
Cash interest
✓ ~3% on uninvested
Regulation
BaFin / MiFID II
IB
Interactive Brokers
★★★★½
Best global access
Commission
From $0.005/share
CFDs / Forex
✓ Forex + futures
Investor protection
SIPC $500k
⚠️ Investing involves risk of loss. CFD trading carries high risk — 51–80% of retail CFD accounts lose money. Capital is not guaranteed.
How to Get Started with a Broker in Bulgaria
1
Flat 10% tax — declare by 30 April
All capital gains from securities are taxed at Bulgaria's flat 10% personal income tax rate. For FSC-regulated Bulgarian brokers, some reporting may be assisted. For EU/foreign brokers (XTB, DEGIRO, IBKR), you must self-declare in your annual Годишна данъчна декларация (annual income tax return) with the National Revenue Agency (НАП) by 30 April each year. Keep annual broker statements for your NRA records.
2
Open account with Bulgarian ЕГН or EU documents
Bulgarian FSC-regulated brokers require your ЕГН (Единен граждански номер — civil identification number). For EU-passported brokers (XTB, DEGIRO, IBKR, Trade Republic), a valid EU passport or Bulgarian ID card plus proof of address is sufficient. KYC is completed online. For Trade Republic and DEGIRO, the mobile onboarding process takes under 15 minutes for most Bulgarian applicants.
3
Fund via bank transfer — BGN to EUR conversion
EU-based brokers (XTB, DEGIRO, Trade Republic) operate in EUR — you'll need to convert BGN to EUR via your Bulgarian bank (UniCredit Bulbank, DSK Bank, First Investment Bank, UBB, Eurobank Bulgaria). Due to the BGN/EUR currency board peg (1 EUR = 1.95583 BGN), FX rates are extremely stable. Some Bulgarian banks offer very competitive BGN → EUR conversion rates given the peg. FSC-regulated Bulgarian brokers may accept BGN directly.
4
PRIIPs: use UCITS ETFs, not US ETFs
As an EU member, Bulgaria is subject to PRIIPs regulation — US-domiciled ETFs (Vanguard VOO, iShares IVV, SPDR SPY) are restricted for retail investors. Use UCITS-compliant equivalents: iShares Core S&P 500 UCITS ETF (CSP1), Vanguard S&P 500 UCITS ETF (VUSA), or Xtrackers S&P 500 (XSPR). XTB, DEGIRO, and Trade Republic all offer comprehensive UCITS ETF selections.
🇧🇬 Bulgaria: Country Environment Blueprint
Primary Watchdog
Financial Supervision Commission (FSC — Комисия за финансов надзор) —
www.fsc.bg EU / MiFID II
✅ Full EU member. MiFID II passporting applies — EU/EEA-regulated brokers can serve Bulgarian residents. UK FCA-only brokers NOT valid post-Brexit. Bulgaria uses BGN (pegged to EUR at 1.95583) — not yet in the Eurozone.
Investor Protection
€20,000 per investor under the Bulgarian Investor Compensation Fund (Фонд за компенсиране на инвеститорите). Bank deposits: up to €100,000 under the Bulgarian Deposit Insurance Fund (ФГВБ).
Capital Gains (Shares)
Flat 10% personal income tax (данък върху доходите) on capital gains from securities. Bulgaria uses a unified flat tax — there is no separate CGT regime. Capital losses may be offset against gains within the same year. No holding-period exemption, no annual CGT allowance. Declare in annual return by 30 April with NRA (НАП).
Dividend Tax
Bulgarian company dividends: 5% withholding tax (данък при източника) — withheld at source. Foreign dividends: 10% personal income tax applies (unified flat rate), with foreign WHT credits under applicable double tax treaties. Declare in annual return.
No Investment Wrapper
Bulgaria does not have a general tax-advantaged investment account. However, the 10% flat tax rate is already competitive — significantly lower than most EU countries' CGT rates. Pension savings accounts (допълнително доброволно пенсионно осигуряване) offer limited deductibility but are not general investment vehicles.
US ETF Access (PRIIPs)
⚠️ Bulgaria is an EU member — PRIIPs applies. US-domiciled ETFs restricted for retail investors. Use UCITS-compliant equivalents. XTB, DEGIRO, and Trade Republic all offer UCITS ETF ranges.
Domestic Exchange & Index
Bulgarian Stock Exchange (BSE Sofia — Българска фондова борса) · Index: SOFIX (15 most liquid companies)
Key stocks: First Investment Bank (5F4), Eurohold Bulgaria (6A6), Monbat (5MB), Sopharma (3JR), Chimimport (6H3), Holding Varna (4HV)
🏠 Local Platforms to Know
EF
Elana Financial Markets — One of Bulgaria's largest independent investment firms. FSC-regulated. BGN-native. Full BSE Sofia access. Bulgarian-language platform. Competitive commissions for domestic stocks. Popular with Bulgarian investors for both local market access and access to international markets via Elana's EU partnerships.
CB
CB (Central Bank-connected brokers) — Various FSC-regulated brokers tied to Bulgarian banks including UniCredit Bulbank Investment Banking and DSK Markets. Bank-integrated brokerage with BGN-native accounts and BSE Sofia access. Popular with existing bank customers for seamless integrated banking and investing.
CC
Concord Capital — Bulgarian investment firm. FSC-regulated. BSE Sofia and international market access. BGN-native. Offers portfolio management alongside self-directed investing. Research and analysis coverage of Bulgarian equities. Suitable for investors seeking active management alongside retail brokerage.
IB
Iconomics / BenchMark Finance — FSC-regulated Bulgarian brokers offering domestic BSE Sofia access alongside international markets. Multiple Bulgarian online brokers operate in this mid-tier segment. Compare fees carefully — some charge significantly higher commissions than EU-passported alternatives for international market access.
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How we chose these platforms
Our team tested each platform with Bulgarian residents, evaluating FSC/MiFID II regulation, Bulgaria's 10% flat tax handling, BGN/EUR currency considerations, BSE Sofia access, and value for money. Rankings updated regularly.
Frequently Asked Questions
What is Bulgaria's capital gains tax rate? +
Bulgaria applies a flat 10% personal income tax (данък върху доходите на физическите лица) to all income categories, including capital gains from securities. This is tied with Romania for one of the lowest CGT rates in the EU. There is no annual CGT exemption or holding-period exemption. Capital losses may be offset against gains in the same year. For foreign brokers, declare in your annual tax return (Годишна данъчна декларация) by 30 April with the National Revenue Agency (НАП).
Is Bulgaria's BGN currency the same as the euro? +
No, but the BGN is pegged to the euro at a fixed rate of 1 EUR = 1.95583 BGN through a currency board arrangement — the hardest EUR peg of any non-Eurozone EU member. This means negligible FX risk for EUR-denominated investments. Bulgaria has been targeting Eurozone accession and the peg makes the BGN essentially EUR-equivalent in practice, but formal currency conversion is still required when funding EU-based EUR brokers. Bulgarian bank BGN → EUR conversion costs are typically very low due to the peg.
Can EU brokers serve Bulgarian investors? +
Yes. Bulgaria is a full EU member and MiFID II passporting applies. XTB (KNF, Poland), DEGIRO (AFM, Netherlands), Trade Republic (BaFin, Germany), and Interactive Brokers (CSSF, Luxembourg) can all legally serve Bulgarian residents. These foreign brokers do not automatically report to the Bulgarian NRA — you must declare all gains in your annual return by 30 April. Bulgaria's flat 10% tax makes the annual filing relatively simple.
What is Bulgaria's dividend tax rate? +
Bulgarian company dividends carry a 5% withholding tax (данък при източника), consistent with Bulgaria's investor-friendly low-tax framework. Foreign dividends are subject to Bulgaria's standard 10% flat income tax rate. Under applicable double tax treaties, foreign WHT paid can be credited against Bulgarian tax liability. Declare all foreign dividend income in your annual tax return by 30 April.