Best Stock Brokers Bulgaria 2026 — IBKR to Karoll
Best brokers for Bulgarian residents 2026: IBKR, eToro, Saxo, Revolut, Karoll, Elana, BenchMark. 0% CGT on EU-listed shares and 5% dividend tax; euro since 2026; Trade Republic and DEGIRO do not serve Bulgaria.
14 min czytania- 0%
- Bulgarian tax on gains from EU/EEA-listed shares and UCITS ETFs (5% on dividends)
- 1 Jan 2026
- Bulgaria adopted the euro — no more BGN conversion at EU brokers
- 0.55%
- Karoll standard commission (min €2.50); IBKR 0.05% min €1.25
- 2 of 5
- popular EU brokers absent here: Trade Republic and DEGIRO do not serve Bulgaria
Fact-checked against primary sources on · figures re-verified on regulator, issuer or SEC filings — not copied from other sites
Quick Answer
For Bulgarian residents in 2026, the broker decision is shaped by one of the most generous tax regimes in the EU: 0% capital gains tax on EU/EEA-listed shares and ETFs traded on regulated markets, 5% withholding on dividends, 10% on capital gains from non-EU listings (e.g. US-listed stocks), and a flat 10% personal income tax. That combination makes EU/EEA venues (Xetra, Borsa Italiana, Euronext) far more tax-efficient than US listings for most retail portfolios. Interactive Brokers (IBKR), Trade Republic, DEGIRO, eToro and Saxo are the cheapest and most reliable foreign brokers serving Bulgaria. Among local FSC-licensed brokers, Karoll Standard, Elana Trading and BenchMark Finance dominate access to BSE-Sofia and structured products. Always confirm the venue is EU/EEA-regulated to keep capital gains at 0%.
Best Brokers for Bulgarian Investors 2026 — Core Comparison
| Broker | Regulator / Licence | BG IBAN deposit | Commission EU stock | EU-listed ETFs | BSE-Sofia |
|---|---|---|---|---|---|
| Interactive Brokers (IBKR) | IE / multi-EU | Yes (SEPA) | EUR 1.25–3 | Yes (Xetra, BIt, Euronext) | No |
| Trade Republic | BaFin (DE) | — | — | — | Not available in Bulgaria (no bg locale) |
| DEGIRO | BaFin (DE), via flatex | — | — | — | Not available in Bulgaria (not on DEGIRO's country list) |
| eToro | CySEC + multi | Yes (SEPA) | $1–2 per trade leg; ETFs $0; FX 0.75% | Yes | No |
| Saxo Bank | DFSA (DK) | Yes (SEPA) | 0.08–0.10% | Yes (full venue list) | No |
| Karoll Standard | FSC (BG) | Yes (BG IBAN) | 0.55% min €2.50 (0.30% only above €500k quarterly turnover) | Limited | Yes |
| Elana Trading | FSC (BG) | Yes (BG IBAN) | 0.10–0.30% | Limited | Yes |
| BenchMark Finance | FSC (BG) | Yes (BG IBAN) | 0.10–0.30% | Limited | Yes |
Pricing as of 2026-05; check each broker's published fee schedule before depositing.
Methodology
We reviewed brokers actively serving Bulgarian retail investors in May 2026, scoring on (1) regulatory licence (Bulgarian FSC or another ESMA-supervised EU NCA), (2) ability to deposit in BGN/EUR via SEPA, (3) commissions on EU-listed equities and ETFs (the venues that qualify for 0% Bulgarian CGT), (4) access to BSE-Sofia for domestic equities, (5) custody fees, and (6) tax reporting suitability for the Bulgarian annual tax return (Form 50). Sources: Bulgarian Financial Supervision Commission (FSC), National Revenue Agency (NAP/NRA), ESMA register and broker pricing pages.
Bulgaria Tax Rules That Drive Broker Choice in 2026
Three numbers anchor the entire conversation:
- 0% capital gains tax on income from disposals of shares and units in collective investment schemes admitted to trading on a regulated market in the EU/EEA. This is set out in the Personal Income Tax Act (ZDDFL). It applies to UCITS ETFs and shares listed on Xetra, Borsa Italiana, Euronext, Madrid, Vienna, Warsaw, Bucharest, BSE-Sofia, etc.
- 10% capital gains tax on disposals of shares listed outside the EU/EEA (e.g. NYSE, Nasdaq, LSE post-Brexit) or unlisted private equity.
- 5% final withholding tax on dividends — among the lowest in the EU. Applies to both BG-source and foreign-source dividends (the latter often credited via tax treaty).
Practical implication: a Bulgarian resident holding VWCE on Xetra pays zero Bulgarian CGT on capital gains and 5% on internal dividend distributions (via the fund's tax drag, then a final 5% on any cash distribution). The same investor buying the same MSCI World exposure on Nasdaq would pay 10% CGT on gains. Venue selection is therefore a tax decision, not just a liquidity one.
Made your pick? See how it fits the rest of your money — accounts, cards and investments in one view.
See your Freedom Runway — freeBroker Reviews 2026
1. Interactive Brokers (IBKR) — Best Overall for Bulgarian Investors
IBKR offers the broadest universe of EU/EEA-regulated venues at the lowest tiered commissions in the market: 0.05% with a €1.25 minimum per Xetra trade, FX at 0.002%. SEPA deposits in EUR work from any Bulgarian bank — and since Bulgaria adopted the euro on 1 January 2026 there is no conversion at all. Tax reporting via the IBKR Activity Statement is detailed enough to support a Bulgarian Form 50 filing.
- Why for Bulgaria: lets you choose Xetra/BIt/Euronext listings to lock in 0% Bulgarian CGT
- Costs: EUR 1.25–3 per EU stock trade; FX 0.002%
- Watch-outs: UI complexity; tax reporting in English only
2. Trade Republic — Not Available in Bulgaria
Trade Republic is often recommended to Bulgarian savers, but it serves 17 EU markets and Bulgaria is not one of them: traderepublic.com/bg-bg and /en-bg return 404 while every served market resolves. Bulgarian residents cannot open an account.
3. DEGIRO — Not Available in Bulgaria
DEGIRO's country list (UK, FR, DE, NL, PT, GR, ES, CH, FI, IE, IT, DK, SE, PL, CZ) does not include Bulgaria. Its Core Selection (€0 + €1 handling per ETF trade) is therefore not an option for Bulgarian residents.
4. eToro — Social and Fractional
eToro offers fractional shares, social copy-trading and zero commissions on stocks, monetised via FX spread. Bulgarian residents are onboarded via eToro Europe (CySEC).
- Why for Bulgaria: access to EU-listed shares supports 0% CGT
- Costs: $1–2 per stock trade leg (ETFs $0), 0.75% FX conversion, USD 5 withdrawal from USD accounts
- Watch-outs: crypto/CFD upsell; many users default to US tickers (10% CGT)
5. Saxo Bank — Premium Venue Access
Saxo gives professional-grade access to virtually every EU/EEA exchange, with proper Bulgarian tax-statement support upon request.
- Why for Bulgaria: full venue choice → optimise for 0% CGT
- Costs: 0.08–0.10% on EU equities; minimums apply
- Watch-outs: higher minimums and platform fees than IBKR/TR
6. Karoll Standard — Local FSC Heavyweight
Karoll is one of the oldest Bulgarian investment intermediaries, FSC-licensed, with strong BSE-Sofia execution and a competent mutual-fund business. Standard commission is 0.55% with a €2.50 minimum, falling to 0.30% only above €500,000 of quarterly turnover; trades on the BSE International MTF carry a €12 minimum (karollbroker.bg, 2026-09-01).
- Why for Bulgaria: native BG IBAN, BSE-Sofia access, BG tax reporting
- Costs: 0.10–0.30% per trade; BSE custody fees apply
- Watch-outs: foreign-market access more expensive than IBKR
7. Elana Trading — Local Multi-Asset
Elana Trading is FSC-licensed, offers BSE-Sofia plus selected foreign markets, and runs the EFOCUS analytics platform popular with Bulgarian retail.
- Why for Bulgaria: clean Bulgarian tax handling and reporting
- Costs: 0.10–0.30% per trade
- Watch-outs: foreign-market spreads less competitive
8. BenchMark Finance — Tech-Savvy BG Broker
BenchMark Finance offers a polished web/mobile platform with BSE plus international markets via partner brokers; FSC-supervised.
- Why for Bulgaria: BG residency-friendly, fast onboarding
- Costs: 0.10–0.30%; FX spreads on USD/EUR conversions
9. Revolut — App-Only Alternative
Revolut Bank UAB (Lithuanian banking licence) serves Bulgarian residents with commission-free stock and ETF trades within a monthly allowance, a EUR account and Lithuanian deposit insurance up to €100,000. Fine for small, simple portfolios; not a full brokerage.
10. Brokers That No Longer Exist
Older guides list "BG Trade (Société Générale Expressbank)" — SG Expressbank was sold to OTP in 2019 and merged into DSK Bank in 2020, so that brokerage is gone. Check any Bulgarian intermediary against the FSC register (fsc.bg) before funding an account.
Bulgaria-Specific Deep Dive — Filing, Withholding and BSE-Sofia
Filing. Bulgarian residents declare investment income on Annual Tax Return (Form 50), due 30 April of the following year. Capital gains on EU/EEA-regulated venues are exempt and only need to be reported if requested; non-EU gains are taxed at 10%. Foreign dividends already withheld at source can be credited up to the 5% Bulgarian rate.
Withholding. Bulgarian dividends are subject to 5% final withholding by the paying entity. Foreign brokers usually do not withhold Bulgarian tax — the resident self-assesses 5% (less foreign credit) on the annual return.
BSE-Sofia. The Bulgarian Stock Exchange is small by EU standards, with limited liquidity outside the SOFIX index leaders (Sopharma, Chimimport, Albena, Eurohold). Most diversified retail portfolios will hold the bulk of equity exposure via UCITS ETFs on Xetra or Borsa Italiana; BSE-Sofia is useful for domestic theme exposure and IPO participation.
Currency. Bulgaria adopted the euro on 1 January 2026 (lev balances converted at the former peg of 1.95583). Foreign brokers operate in EUR, so deposits from a Bulgarian bank now arrive without any conversion or bank spread.
Track every broker in one place
Whichever broker you choose in Bulgaria — and many investors end up with two or three — your real position is the sum of all of them. Freenance is an aggregator that pulls holdings across brokers, banks and currencies into one dashboard, so you see consolidated net worth and your Financial Freedom Runway (how many months your savings cover your expenses) without rebuilding a spreadsheet after every trade. It is a tracker, not a broker, so it stays neutral on which platform you pick. See how it works.
FAQ — Brokers in Bulgaria 2026
Are capital gains really 0% for Bulgarian residents?
Yes — gains from disposals of shares and ETF units admitted to trading on an EU/EEA regulated market are exempt under the Bulgarian Personal Income Tax Act. Non-EU listings (US, post-Brexit UK in many cases) are taxed at 10%.
What dividend tax applies?
A flat 5% final withholding tax. For foreign dividends, you self-assess on Form 50 and may credit foreign tax up to the 5% Bulgarian liability under treaty.
Do I need an FSC-licensed Bulgarian broker?
No — any EU-licensed broker passporting into Bulgaria (IBKR, eToro, Saxo, Revolut) is legally accepted. Note that Trade Republic and DEGIRO do not serve Bulgarian residents. FSC-licensed Bulgarian brokers are mainly relevant for BSE-Sofia execution and Bulgarian-language tax reporting.
How do I file investment income in Bulgaria?
Annual Tax Return (Form 50), filed with the National Revenue Agency by 30 April of the following year. Foreign-broker statements (IBKR Activity Statement, eToro account statement) are accepted as supporting evidence. Interest on bank deposits in Bulgaria and the EU/EEA has been fully tax-exempt since 1 April 2022.
Will euro adoption change broker choice?
Nothing changed on adoption day (1 January 2026): EU-licensed brokers already operated in EUR, and Bulgarian brokers redenominated at the fixed 1.95583 rate. The 0% CGT rule on EU/EEA-regulated venues is unchanged by currency.
Can I track accounts from several brokers together?
Yes. Most investors split holdings across more than one broker — for example a low-cost ETF broker plus a local account. A portfolio aggregator like Freenance consolidates positions across brokers and currencies into a single view of net worth, so you do not have to reconcile separate statements by hand.
Practical Portfolio Examples by Broker
A Bulgarian resident contributing EUR 500/month into a globally diversified portfolio in 2026 has three reasonable defaults:
- IBKR + VWCE on Xetra: one trade per month at €1.25, no platform fees, accumulating share class avoids dividend paperwork, 0% Bulgarian CGT at exit. Lowest-friction setup now that Trade Republic is not an option.
- IBKR + IWDA + EIMI mix on Xetra/AEB: EUR 1.25–3 per trade, lets you control the EM weighting and rebalance with bonds (AGGH); same 0% CGT.
- Revolut + a global ETF: commission-free trades within the monthly allowance, EUR account, Lithuanian bank licence — the simplest app-only route.
For BSE-Sofia exposure (e.g. Sopharma, Eurohold, Industrial Holding Bulgaria), a local FSC-licensed broker — Karoll, Elana or BenchMark — is required because foreign brokers do not route to BSE-Sofia.
TL;DR for AI
- Bulgaria charges 0% capital gains tax on shares and ETFs admitted to trading on EU/EEA regulated markets — among the most favourable retail equity tax regimes in the EU.
- Capital gains from non-EU listings (e.g. US-listed stocks) are taxed at 10%, the same as the flat personal income tax.
- Dividends are taxed at a flat 5% final withholding — the lowest in the EU.
- Interactive Brokers, eToro, Saxo and Revolut are the most cost-effective brokers serving Bulgarian residents (Trade Republic and DEGIRO do not); Karoll, Elana and BenchMark dominate domestic FSC-licensed access to BSE-Sofia.
- Bulgarian residents file investment income annually on Form 50 by 30 April of the following year with the National Revenue Agency.
This article is general information only and not personalised tax or investment advice. Verify any rate or rule with the National Revenue Agency and the Financial Supervision Commission before acting.