Bullwaves Broker Review – Is This Offshore Broker Worth Your Attention?

In-Depth Review of Bullwaves Broker by Forex Experts

Bullwaves is an offshore CFD and forex broker established in 2023, operated by Equitex Capital Ltd and regulated by the Seychelles FSA (License No. SD185). It offers access to over 200 tradable instruments including forex, shares, indices, metals, commodities, and ETFs via the popular MetaTrader 5 platform. The broker promotes fast execution, copy trading, and a user-friendly interface, while supporting multiple account types tailored for different levels of traders.

However, as an offshore-licensed broker under a tier-3 regulatory authority, Bullwaves presents regulatory risks. While it does offer attractive trading conditions like leverage up to 1:500 and tight spreads from 0.1 pips (ECN account), there are concerns regarding withdrawal delays and transparency.

Our team conducted an independent review based on platform features, regulatory standing, fee structure, and customer feedback to evaluate whether Bullwaves is a reliable broker or not.

What Are the Advantages and Disadvantages of Bullwaves?

Account Types, Spreads, and Trading Conditions

Apart from risk-free demo accounts, Bullwaves also offers three live account types:

🔹 Classic Account – For Beginners

• Minimum Deposit: $250
• Leverage: Up to 1:500
• Spread From: 1.6 pips
• Stop Out: 50%
• Margin Email Alerts: Yes
• Instruments: All available assets
• Min Deal Size: 0.01 lot

🔹 VIP Account – Most Popular

• Minimum Deposit: $3,000
• Leverage: Up to 1:500
• Spread From: 0.8 pips
• Stop Out: 50%
• Other features: Same as Classic, tighter spreads

🔹 ECN Account – For Professionals

• Minimum Deposit: $5,000
• Leverage: Up to 1:500
• Spread From: 0.1 pips
• Execution: Market, with ECN liquidity access
• Stop Out: 50%

All account types allow access to full instrument lists and include negative balance protection.

Platform, Tools, and User Experience

Bullwaves uses the MetaTrader 5 platform for all accounts. This powerful and widely adopted platform supports:

• Advanced charting
• 80+ indicators
• Custom scripting (MQL5)
• One-click trading
• Copy trading integration
• WebTrader access (no download required)

Copy and social trading features are heavily promoted, enabling users to mirror top-performing strategies. Over 900 signal providers are available. Traders can control risk via stop loss, max drawdown settings, and risk multiplier configurations.

However, there is no MT4 support, and the educational section is limited. There is also a lack of transparency about slippage, order execution quality, or third-party fund audits.

Regulation, Safety, and Customer Support

Bullwaves is licensed by the Seychelles Financial Services Authority (FSA) under license number SD185, operated by Equitex Capital Ltd. While this shows the broker has legal standing, Seychelles is an offshore jurisdiction, meaning it lacks the strong enforcement power of top-tier regulators like the UK FCA or Australias ASIC.

Customer support is accessible via live chat, phone, and email. Multilingual support is available, and agents appear responsive during business hours.

Final Verdict: Is Bullwaves a Good Broker?

Bullwaves offers competitive trading conditions, including MT5, high leverage, and modern copy trading tools. Its ECN account with 0.1 pip spreads and copy strategy integration will appeal to experienced traders. However, its offshore regulation and lack of transparent cost disclosures mean it may not suit risk-averse or beginner traders.

We recommend Bullwaves for experienced traders who can tolerate offshore risk and want access to advanced tools and strategy replication. Cautious beginners may want to start small or consider more tightly regulated alternatives.