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Bulgaria Financial Supervision Commission (FSC) was established on March 1st, 2003 under the Financial Supervision Commission Act. It is an institution that is independent from the executive authority and reports its activity to the National Assembly of the Republic of Bulgaria.
FSC is a specialized government body for regulation and control over different segments of the financial system – capital market, insurance market, health insurance market, pension insurance market.
FSC regulates CFDs. Bulgaria is an EU member state, and FSC's financial regulations and operations comply with the European MiFID financial harmonization law.
The primary mission of the institution is to assist through legal, administrative and informational means for the maintenance of stability and transparency on the non-banking financial sector, and to ensure the protection of the consumers of financial services and products.
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The Regulatory Framework:
The Law on The Markets of Financial Instruments.
Since Bulgaria is a member of the European Union, most of the regulations refer to, or directly follow, EU financial markets law.
Generally speaking, FSC-regulated broker profile will be found at the Investment Firms page on FSC website. Try to find it and check if it will match the info from the broker website.
The detailed steps are as follow:
1. Find the name of the forex broker, which you can get from the broker's website;
2. Search the broker's name in the list on https://www.fsc.bg/?page_id=19647&lang=en ;
3. If the broker's name is not in the list, it means that it may be an unauthorized broker and please watch out it.
If yes, the broker can provide forex trading service;
4. If all the above steps have been done, don't forget to check the most important information: check if the broker details in the FSC list matches the ones you'll go to trade with, especially the website and email etc.
If no, please keep away the broker because it's probably an unauthorized firm and your money will fall in danger.
When you have disputes with a FSC-regulated broker, you can proceed the following ways:
1st way: The recommended way is to contact the broker directly and discuss with them to find a solution.
2nd way: If you're not satisfied with the broker's solution, try to contact FSC, which helps to solve the disputes between the forex broker and the investor.
To submit a complaint you can:
1. Send the complaint to the email: firstname.lastname@example.org
2. Submit the complaint by post: Financial Supervision Commission №16 Budapeshta Str. 1000 Sofia, Bulgaria.
3rd way: If the first 2 ways above can't solve the dispute, the last way is to issue a case to the court in Bulgaria.
FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.
The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.