FX.co ★ ELANA - Broker rating, review and comments

About company

ELANA is one of the largest non-banking financial groups in Bulgaria. It has 29 years of experience in developing innovative products and services in the Bulgarian financial market. The company was founded in 1991 and entered the online market in 2003. Today, ELANA is one of the three best brokers in Bulgaria. The company is regulated by the Bulgarian Financial Supervision Commission (FSC). Notably, it is allowed to operate throughout the European Union.

Trading conditions

ELANA offers a wide range of services to its clients, including trading on the Bulgarian Stock Exchange (shares, units, bonds, etc.), storing financial instruments and cash, trading of foreign debt securities, currency, etc. The broker offers two types of trading accounts – MetaTrader and GlobalTrader. The first one provides access to more than 70 currency pairs, as well as precious metals and CFDs on indices and minerals. In collaboration with Saxo Bank, ELANA provides access to a portfolio of more than 180 currency pairs, binary options, CFDs, stocks, futures, options, and ETFs. The initial deposit starts from 1 USD.

Trading platform

ELANA offers two trading platforms: the popular MetaTrader 4 platform and the Elana GlobalTrader software. They are available in desktop and mobile versions.

Support service

Clients can contact the support service by phone number or email as well as by fax and live chat. The website operates in the Bulgarian and English languages.

Deposit and withdrawal

ELANA accepts deposits via debit and credit card, wire transfer. The broker does not work with such popular payment systems as PayPal or Skrill.

Traders’ reviews

On the Internet, some traders call the broker fraudster, but these accusations do not have any proof. In general, the broker is one of the three best companies in Bulgaria, which has a full and informative website and a fairly wide choice of financial products and services.

Advantages:

• regulated broker
• affordable initial deposit
• wide array of services and instruments
• competitive spreads and leverage
• assistance from financial consultants

Disadvantages:

• lack of bonus programs
• no analytical materials
• lack of training programs, materials for novice traders