Bulgaria’s FSC: investment-firm checks, CFD safeguards and complaint routes

The Financial Supervision Commission, abbreviated FSC in English and КФН in Bulgarian, was established on 1 March 2003 under the Financial Supervision Commission Act. It is institutionally separate from the executive and reports to Bulgaria’s National Assembly. Its work includes licensing, ongoing supervision, inspections and administrative enforcement.[1]

Authority

Financial Supervision Commission

Jurisdiction

Bulgaria

Authority type

Statutory regulator

Authority status

Active

Territorial scope

Bulgaria; home/host and cross-border rules affect investment services supplied into or from another state.

Relevant markets

FX and CFDs; Securities; Investment services; Insurance; Pensions

Remit

Supervision of Bulgaria’s non-bank capital market, insurance and supplementary pensions.

The English investment-firm directory provides names, addresses and contact details, including websites. It is a useful identity check, but its two-column contact list does not itself display every licence condition or a complete permission history. Match the agreement’s company to the relevant current permission before relying on a particular service.[2]

Open the official register ↗

Check the exact legal entity, permissions, current status and scope in the official record. A brand connection in our coverage does not establish authorisation.

Bulgaria’s national CFD decision took effect on 2 August 2019 for retail distribution in and from Bulgaria. It requires initial-margin limits, account-level close-out, negative-balance protection, restrictions on incentives and prescribed risk warnings.[10]

Close-out starts below 50% of total initial margin, using account funds plus unrealised net result. Negative-balance protection caps aggregate CFD liability at that account’s funds. These safeguards concern retail clients; professional classification changes the applicable protection.[10]

The Markets in Financial Instruments Act also requires assessment of customers’ knowledge and experience for relevant non-advised services, and a broader financial-position/objectives assessment for advice or portfolio management. Firms must pursue the best possible execution result, manage conflicts and provide required client information. Their annual financial statements require a registered auditor; prudential reporting follows the applicable EU regime.[7]

Begin with a written complaint to the company providing the disputed service. Keep its response and your account records. For a possible rule breach, the FSC accepts a report through its electronic service, at [email protected], by post or at its records office. It requests evidence from the supervised business and assesses compliance.[14]

Participation is voluntary. The procedure normally proceeds through documents rather than attendance. A settlement accepted by both parties can be submitted for court approval to obtain enforceability. Conciliation therefore has a different effect from the FSC imposing an administrative measure or a court delivering judgment.[16][17]

In its 30 June 2026 warning, the FSC described impersonators using copied broker identities, urgent investment offers and supposed extra payments to unlock withdrawals. Its advice is to verify the official company and contact details independently and report suspected wrongdoing. Save the exact website, email, payment instructions and communications with the approach.[18]

For an eligible EUR 10,000 claim, 90% gives EUR 9,000; EUR 30,000 reaches the EUR 20,000 cap. The Fund’s opening notice identifies the operative submission arrangements. Its public website could not be read on 19 October 2026, so current claim-form instructions were not independently inspected.[8]

The FSC’s postal address is 16 Budapeshta Street, 1000 Sofia, Bulgaria. Its domestic information-centre number is 0800 40 444. The current complaints page reports a temporary mobile-app limitation and directs status enquiries to that number or the documents inbox. No international conversion of the domestic freephone number is assumed.[14]

Resource availability describes the documented route. It does not establish eligibility, authorisation or compensation coverage.

The national CFD restrictions are the governing Bulgarian measure, following the transition from ESMA’s temporary EU intervention to permanent national measures. ESMA’s July 2019 opinion addresses Bulgaria’s proposed measure; it is not a licence for any individual broker.[11][12]

The current Bulgarian legislation index links the Markets in Financial Instruments Act consolidated through 7 August 2026 and the Public Offering of Securities Act through 25 September 2026. These editions support this profile. English translations can lag amendments and are informational; the Bulgarian legal text controls. Check the specific operative decision for a live account or claim.[5][6]

The authority publishes annual reports and a separate Bulgarian complaint-bulletin series. On the checked pages, the English annual-report archive reaches 2024, while the complaint page lists the July–September 2026 bulletin dated 14 October 2026. A complaint count is not by itself a finding against an individual firm.[22][14]