Score
Bullwaves
Seychelles|1-2 years| https://www.bullwaves.com/
Website
Rating Index
MT4/5 Identification
MT4/5 Identification
Full License
United KingdomContact
Licenses
Single Core
1G
40G
Contact number
+248 4373840
Other ways of contact
Broker Information
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Equitex Capital Limited
Bullwaves
Seychelles
Pyramid scheme complaint
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- The Seychelles FSA regulation with license number: SD185 is an offshore regulation. Please be aware of the risk!
- The current information shows that this broker does not have a trading software. Please be aware!
WikiFX Verification
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | $50000 |
| Minimum Spread | 1.1 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | $0 |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:400 |
| Minimum Deposit | $10000 |
| Minimum Spread | 1.5 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.05 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | $0 |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:200 |
| Minimum Deposit | $250 |
| Minimum Spread | 2 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | $0 |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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Bullwaves · Company Summary
Bullwaves, which was founded in 2023 under the Financial Services Authority (FSA) of Seychelles, offers a broad range of more than 250 traded assets. The company gains most advantage from officially regulating by FSA. One significant drawback, though, is the higher minimum deposits required for VIP and Elite accounts. It's not appropriate for every trader.
Pros and Cons
| Pros | Cons |
| Regulated by FSA in Seychelles | High minimum deposit &10,000 for Elite account |
| Offers MetaTrader 5 platform | Inactivity fee:$10 per month after 30 days |
| Access to over 250 tradable assets | Asking for 10EUR ~ 100EUR withdrawal fees |
Is Bullwaves Legit？
Under licence number SD185, Bullwaves is a genuine trading platform run under control by Seychelles' Financial Services Authority (FSA).
| Regulatory Authority | Seychelles Financial Services Authority (FSA) |
| License Type | Retail Forex License |
| Current Status | Offshore Regulated |
| License No. | SD185 |
| Licensed Institution | Equitex Capital Limited |
What Can I Trade on Bullwaves？
Bullwaves provides more than 250 financial products, including forex, indices, commodities, shares, metals, and ETFs. But cryptocurrencies are excluded.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Indices | ✔ |
| Commodities | ✔ |
| Shares | ✔ |
| Metals | ✔ |
| ETFs | ✔ |
| Cryptocurrencies | ❌ |
| Binary Options | ❌ |
Account Types
Classic, VIP, and Elite are the three live trading accounts Bullwaves provides. There is a demo account, but no Islamic account.
| Account Name | Leverage | Spread From | Commissions From | Min. Deposit | Stop Out | Margin Email | Suitable For |
| Classic | 1:200 | 2.0 pips | $10 | $250 | 50% | No | Beginner and intermediate traders |
| VIP | 1:400 | 1.5 pips | $10 | $10,000 | 35% | Yes | Advanced traders |
| Elite | 1:500 | 1.1 pips | $10 | $50,000 | 25% | Yes | Professional and high-volume traders |
Bullwaves Fees
Though they vary based on the type of account, Bullwaves' fees are reasonable.
Trading Fees
Bullwaves Spreads and Commissions
On the Elite account, spreads start from 1.1 pips; on the VIP account, they start at 1.5 pips; on the Classic account, they start at 2.0 pips. Every account's commission starts at $10.
| Account | Spreads(From) | Commissions(From) |
| Classic | 2.0 pips | $10 |
| VIP | 1.5 pips | $10 |
| Elite | 1.1 pips | $10 |
Non-Trading Fees
Inactivity fee: Bullwaves asks for $10 every month following thirty days for inactive account.
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MetaTrader 5 (MT5) | ✔ | Web, Windows, Mac, iOS, Android | Beginners to advanced traders |
| Autochartist | ✔ | Web, Desktop | All traders |
| MT5 WebTrader | ✔ | Web-based | Prefer browser traders |
| MT5 NexGeneration | ✔ | Web, Desktop | Experienced traders |
Deposit and Withdrawal
Bullwaves charges $0 for deposits. Bullwaves' account type dictates their minimum deposit; it starts at $50.
Bank wire transfers are not handled instantly when depositing; usually, they take two to five business days.
Deposit Options
| Deposit Options | Min. Deposit | Fees | Processing Time |
| Credit/Debit Cards | $50 | None | Instant |
| Bank Wire Transfers | $50 | None | 2-5 working days |
| E-wallets | $50 | None | Instant |
Withdrawal Options
The withdrawal fees depend on the withdrawal options. It starts from 10 EUR to 100 EUR.
Please note:
1.While Bullwaves does not have a minimum withdrawal value (save from bank wires), withdrawals below 2 EURcannot be handled due to fees; Also there exists a 10 EUR fee applies to bank wire withdrawals of 100 EUR or less.
2.Bank wire transfers are not handled instantly when withdrawing. They take two to five business days.
| Withdrawal Options | Min. Withdrawal Amount | Fees | Processing Time |
| Bank Wire Transfer | 100 EUR | 10 EUR for amounts ≤ 100 EUR | 2-5 working days |
| Other Withdrawal Methods | 20 EUR | 10 EUR for amounts ≤ 20 EUR | Varies depending on method |
| Credit/Debit Card Refunds | Not specified | No fixed fee, but provider fees may apply | Varies depending on provider |
Customer Support
Bullwaves offers 24/7 client service through phone, email, live chat, and social media, among other means. There is a wide spectrum of support choices that helps traders to get assistance at the necessary level.
| Contact Options | Details |
| Phone | +44 7700 100833 |
| support@bullwaves.com | |
| Online Chat | ✔ |
| Social Media | WhatsApp, Telegram |
| Supported Languages | English |
| Website Language | English |
| Physical Address | Office No. Al9C, Providence Complex, Seychelles |
| Live Chat | ✔ |
| Contact Form | ✔ |
The Bottom Line
Bullwaves is good for both novice and professional traders since it provides a stable and convenient MetaTrader 5 platform and a good trading experience with access to a large spectrum of assets. But however, certain traders will be discouraged, nonetheless, by the non-trading fees, like monthly inactivity fines and commissions.
FAQs
Is Bullwaves safe？
Yes, Bullwaves is regulated by the Financial Services Authority (FSA) of Seychelles.
Is Bullwaves good for beginners？
Yes, it's offshore regulated by FSA, and the MetaTrader 5 platform are suitable for beginners.
Is Bullwaves good for day trading？
No. It asks for some withdrawal fees, which is not so convenient for day trading.
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