Bullwaves

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

Is Bullwaves Legit？

Under licence number SD185, Bullwaves is a genuine trading platform run under control by Seychelles' Financial Services Authority (FSA).

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.

Account Types

Classic, VIP, and Elite are the three live trading accounts Bullwaves provides. There is a demo account, but no Islamic account.

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.

Non-Trading Fees

Inactivity fee: Bullwaves asks for $10 every month following thirty days for inactive account.

Trading Platform

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

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.

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.

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.