Important Announcement for Bulgarian Clients and Clients Utilising the BGN Currency

September 26, 2025 13:53

We would like to inform you of an important upcoming change that may affect your account. Following the European Central Bank’s (ECB) historic decision and the Council of the European Union’s formal approval on July 8, 2025, Bulgaria has been officially confirmed to adopt the Euro as its currency, effect as of January 1st, 2026. The Bulgarian lev (BGN) will be replaced by the Euro at the fixed conversion rate of 1 EUR = 1.95583 BGN, as established by the ECB.

As your regulated broker, we are taking steps to ensure this transition is smooth, transparent, and fully compliant with regulatory standards.

Phase 1: Disabling of New BGN Trading Accounts

We discontinued the opening of new BGN-denominated accounts on 28 January 2025. This step was taken in line with the ECB’s timeline to ensure full readiness for Bulgaria’s upcoming adoption of the Euro.

Your existing BGN accounts and wallets remain active for now, but they will be converted automatically into Euro accounts at the official ECB rate of 1 EUR = 1.95583 BGN. We will provide advance notice of the exact conversion date.

For transfers between wallets, or between a wallet and a trading account in different base currencies, our standard policy applies, you may make up to five transfers free of charge within a 24-hour period. After this limit, a 1% fee (minimum €1) is charged. Full details of these charges are available on our Deposits and Withdrawals page.

Phase 2: Mandatory Conversion of Existing BGN Accounts and Wallets

Effective Date: To be specified in upcoming communications

All existing BGN-denominated accounts, wallets, and positions will be automatically converted to EUR using the official ECB conversion rate of 1 EUR = 1.95583 BGN. This conversion will be conducted on new Trading Accounts & Wallets with the EUR denomination.

How we will support you:

1. Client Communication and Transparency Measures

In adherence to our regulatory obligations, and commitment to transparent communication with our clients, we will provide notifications in advance and Dashboard alerts will appear on your trading platforms.

2. Documentation and Record-Keeping:

As required by our regulatory obligations, all currency conversions will be:

Fully documented with transaction records;
Processed using the official ECB rate with complete transparency;
Subject to our standard client fund segregation protocols;
Maintained in compliance with Reporting Requirements; and
Regulatory Compliance and Client Protection.

Next Steps and Important Reminders

Immediate Actions:

Please monitor your dashboard regularly for detailed timeline announcements;
Consider voluntary EUR conversion to maintain control over timing;
Update your contact information to ensure receipt of all communication; and
Review your account statements and maintain records of current BGN positions.

Upcoming Communications:

Specific implementation dates for Phase 2 (as described above);
Technical support information for the transition process; and
Q&A resources addressing common concerns.

Contact and Support

Our compliance and client services teams remain available to address any questions or concerns regarding this currency migration. As a regulated entity, we are committed to maintaining the highest standards of client protection, transparency, and regulatory compliance throughout this historic transition.

Please stay vigilant for detailed timeline announcement and implementation schedules that will be communicated through your dashboard notifications and registered email addresses in the coming weeks.

Kind Regards,

Admiral Markets

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