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Bullwaves review
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2 mins read
Overview
Our 5-step process of verification and evaluation – How do we obtain information?
General inspection – 30%
Trading experience – 30%
Technical audit – 20%
Collective experience from collaborations with the broker – 10%
Interviews with real traders – 10%
See the entire process here.
Pros
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Diverse Account Types: Bullwaves caters to both beginner and advanced traders with a range of account options.
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High Leverage: Maximum leverage up to 1:500, allowing traders to control larger positions.
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24/7 Multi-Channel Support: Available in multiple languages via live chat, email, and phone.
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Comprehensive Educational Resources: Training materials, video lectures, e-books, and trading courses.
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Advanced Risk Management Tools: Features such as negative balance protection and stop-out levels.
Cons
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Not Regulated by Top-Tier Authorities: Lacks regulation from top-tier bodies like ASIC or FCA.
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Limited Platform Options: Currently offers only MT5 instead MT4 or cTrader.
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High Minimum Deposit: A $100 deposit requirement may deter small retail traders.
General details
Introduction
Bullwaves is an innovative forex and CFD broker that entered the financial trading industry in 2023. With a focus on providing a seamless trading experience, Bullwaves offers more than 160 CFD assets, including forex, stocks, commodities, indices, metals, and cryptocurrencies.
With leverage of up to 1:400, traders can maximize their capital allocation and trading potential. Bullwaves prioritizes transparency and security, offering negative balance protection and segregated accounts for client funds. The broker’s educational resources and responsive customer support make it a strong contender in the competitive brokerage landscape.
Supported Countries
Bullwaves is accessible to traders worldwide, offering its services across many regions. However, some countries have restrictions, including the USA, Canada, the UK, and several sanctioned jurisdictions. Due to regulatory requirements, traders from these regions are unable to open accounts or use Bullwaves’ platform. To ensure eligibility, prospective traders should visit the sign-up page and verify whether their country is supported. Checking availability in advance helps avoid any registration issues and ensures compliance with local regulations.
Average Customer Ratings
As a new broker, Bullwaves has quickly gained a positive reputation among early adopters. It has received an impressive average rating of 4.6 out of 5 on major review platforms. Traders appreciate its competitive low spreads, which allow for cost-effective trading. Additionally, many users praise the fast and hassle-free withdrawal process, ensuring smooth transactions. The broker’s extensive trading education resources also receive high marks, making it a popular choice for both novice and experienced traders
Trading Platform
Bullwaves provides traders with access to two powerful trading platforms: MetaTrader 5 (MT5) and WebTrader. The MT5 platform is available as a mobile application, allowing traders to execute trades, analyze markets, and manage their portfolios conveniently from their smartphones. WebTrader, on the other hand, is a browser-based platform that offers a seamless trading experience without the need for downloads or installations. Both platforms provide advanced charting tools, real-time market data, and a range of order execution types to suit different trading strategies. With these options, Bullwaves ensures that traders can trade efficiently from any device, whether on desktop or mobile.
Bullwaves’s Leverage
Bullwaves offers leverage of up to 1:500 for forex pairs, while metals, indices, and commodities are capped at 1:200. For stocks and cryptocurrencies, the leverage is more conservative at 1:5. While higher leverage can amplify potential profits, it’s equally important to understand that it also increases the risk of larger losses.
Customer Service
Bullwaves offers one of the most impressive customer support experiences among the new brokers we’ve reviewed. With multiple support channels, 24/7 availability, and service in up to 12 languages, their support stands out. You can reach out via email at [email protected] or use the live chat directly on their website. Additionally, helpful resources like FAQs, a glossary, and educational courses are available for self-service assistance.
Educational Material
Bullwaves offers some of the most comprehensive educational resources available among brokers. One of its key strengths is the ability to immediately apply what you learn through demo accounts, making the learning process interactive and practical—especially for beginners.
If you’re just starting and unfamiliar with basic trading terms, the Education Center under the Resources tab is a great place to begin. It includes video tutorials covering topics like “Learn the Basics,” “Trading Terms,” and “Advanced Lessons.” As you build your knowledge, you can move on to more in-depth courses.
For those looking to go even further, Bullwaves also provides a library of e-books. Continuous learning is essential for trading success, and these resources are highly recommended for traders at every level.
Deposits and Withdrawal Methods
You can deposit funds into your Bullwaves trading account using credit/debit cards, wire transfers, cryptocurrencies, or alternative payment methods (APMs). The minimum deposit amount is $100.
Withdrawals can be made through the same methods by selecting the withdrawal option within your trading account. The minimum withdrawal amount is $50.
To comply with anti-money laundering regulations, third-party payments are not allowed. Make sure all transactions are made from accounts registered in your own name.
Company Details
Bullwaves is a trading name of Equitex Capital Limited (Registration No. 8434948-1), a company authorized and regulated by the Financial Services Authority (the “FSA”, licence no. SD185) with legal registered address in CT House, office number 9A, Providence, Mahe, Seychelles and physical address in Office No. Al9C, Providence Complex, Providence, Mahe, Seychelles
Regulations and Compliance
Bullwaves is regulated by the FSA Seychelles under license number SD-185. However, it’s important to note that FSA Seychelles is not considered a top-tier regulatory authority. As a result, features such as investor protection and compensation schemes typically offered by top-tier regulators may not be available.
Customer Protection
According to Bullwaves, client funds are held in segregated accounts, separate from the company’s operational funds. This adds an extra layer of security and helps provide peace of mind to traders. Additionally, Bullwaves offers key risk management features such as negative balance protection, stop-out levels, and margin call alerts—all designed to help minimize potential trading risks.
Conclusion
Bullwaves is a promising broker that combines solid trading conditions, extensive educational resources, and reliable customer support. Although it is not regulated by a top-tier authority, it maintains a secure and transparent trading environment. With a wide selection of CFDs, competitive spreads, and flexible leverage, Bullwaves is a strong option for traders seeking a versatile trading experience.
+248 4379848
Accounts
Bullwaves offers three account types to suit different trading preferences:
Classic Account:
The CLASSIC account is great for beginners as it has all the offered features of Bullwaves with the exception of swap discounts. Another difference between this classic account and others is the fact that it has the highest spreads. For example, the spreads on EUR/USD on this account starts at 2.5 pips.
VIP Account:
According to Bullwaves, VIP is their best value account. The spreads on the gold account are lower than classic and silver starting at 1.8 pips. This account is more suited for traders with some experience.
Elite Account:
An ELITE account is best suited for high-volume traders. The EUR/USD spreads on this account are 0.9 pips only.
| Minimum Spread | Commission per Round Lot | Cost per 1.0 Standard Lot |
| 2.5 pips (Classic and Silver) | $0.00 | $40.00 |
| 1.8 pips (Gold) | $0.00 | $18.00 |
| 0.9 pips (VIP) | $0.00 | $9.00 |
Tradable instruments
Bullwaves offers a wide range of 160 CFDs. These tradable assets are:
- Forex pairs
- Commodities
- Indices
- Metals
- Popular Stocks
With such a wide range of tradable instruments, a trader has plenty of options to explore.
Frequently asked questions
Find the right answer to your question below:
No, Bullwaves is not a scam. It is a regulated broker offering a diverse range of 160+ tradable assets, along with a variety of powerful trading features. Additionally, Bullwaves provides extensive educational resources, helping traders build a strong foundation in trading and advance their skills with in-depth strategies. The platform is designed to support both beginners and experienced traders, ensuring a comprehensive and secure trading experience.
Bullwaves provides:
1. Classic
2. VIP
3. Elite account to suit various trading needs
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Forex.com Best Trading PlatformsStart trading73%-77% of retail investor accounts lose money when trading CFDs with this provider.
Bullwaves compared with alternative brokers
To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.
- Overall verdict
- Trading
- Minimum deposit
- Maximum leverage
- Fees
- Withdrawal fee
- Deposit fee
- Safety
- Top-tier regulators
- Investor protection
