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Bulbrokers, the European forex broker, has been operating in the international financial markets since 1997. The broker is a part of the industrial and financial group Alfa Finance Holding. It offers its clients to trade various financial instruments such as currency pairs, CFDs on shares, energy commodities, and precious metals.
The company's headquarters, its only representative office, are located in Sofia, the capital of Bulgaria. The broker's website and the customer support are available in several European languages, including English. Bulbrokers is licensed by the FCA, MiFID, CNVM and the Bulgarian National Bank. The company is a full member of the Bulgarian Stock Exchange. It is also registered as a financial institution by the Polish Financial Supervision Authority (KNF).
Bulbrokers offers the MetaTrader 4 and Bono trading platforms which provide access to the major exchanges. The broker allows intraday trading (scalping) and algorithmic trading. The advantages of Bulbrokers include a wide choice of assets and a small minimum deposit necessary for opening a live trading account. However, the broker set quite a high spread, up to 7 pips for some currency pairs.
Bulbrokers is not a recommended broker. I still haven't found any improvement in their service. Their platform is always bad, spreads are high, and it just makes me lose my money. I don't want to keep losing my money and decide to withdraw the rest of the money from my trading account, but they delayed processing my withdrawal. It's been 3 weeks now and they still didn't give me my money.
I have recently started my trading activities at BulBrokers. Amazingly, I am able to make smooth trading transactions because of its stable platform. I also have no problems with the spread because it is narrow.
I personally do not prefer trading with offshore brokers, as they don’t offer full protection of my funds. Because of that, I don’t think, that their minimum account balance is properly adjusted, it is way too high. They also don’t offer a wide range of trading instruments. Their execution speeds were the poorest, an average of 2 seconds to close an order. I was using a scalping EA and when we all know speed is paramount to the success of any scalping strategy. Furthermore, my EA started showing that the connection to broker is too slow. I lost around $500 in my account, when I checked my account I can see no money from it and I call their office and they said they will fix my problem. Don't be fooled by their low spreads and fast executions because all of these are false information.
Bulbrokers is my third broker and I don't think I need to look for another one anymore. This broker already provides the services that I am looking for. Stable platform, low fees, comprehensive learning materials, and there are even bonuses. Finally, I found a remarkable broker.
I didn't find interesting services but support is attentive and always helps me. It's an avarage broker, nothing special. Even so, I still tried to open a real account with a $500 deposit. I didn't get nothing except loss after joining Bulbrokers. Trading strategies that given by their personal manager was incorrect and never succeed to give me profit. They look like messing when they give me trading strategy. They kept formulating one excuse after another and kept asking for money to fix certain unforeseen problems. I would not recommend this company at all to anyone.