Bullwaves Review 2026

Item: Bullwaves
Rating: 8.25
Author: Oleg Tkachenko

By: Oleg Tkachenko
Updated: July 17, 2026

Top Brokers Overview — United States

Visit the site anyway

Min. deposit $100
Fees 9 /10
Account types 7.6 /10
Regulation 3.7 /10

8.3 /10

Highly trusted

Bullwaves User Reviews 8.5
Commissions and Fees 9.0
Regulation and Safety 3.7
Account Types 7.6
Deposit and Withdrawal 8.5
Markets and Tradable Assets 6.0
Trading Account Opening 10.0
Customer Support 8.1

Bullwaves Pros & Cons

Diverse account types with varying trading conditions;
Negative balance protection;
Commission-free trading on all account types;
Access to active social trading;
Wide choice of trading instruments with leverage up to 1:500;
Availability of a demo account and educational materials for novice traders;
Variety of deposit and withdrawal methods.

MetaTrader 5 is the only supported platform;
Lack of top-tier regulatory oversight.

TU Expert Verdict

I can confidently recommend Bullwaves — it is a highly trusted company that I have personally tested and verified. Its trading conditions and user feedback show that most traders are satisfied, and my own experience confirms its solid and consistently reliable performance.

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Trading.com USA

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FOREX.com

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Bullwaves User Reviews

Score:

8.5 /10

37 total

5-star

51%
4-star

32%
3-star

11%
2-star

3%
1-star

3%

521 users picked this broker

John P.

PRO

3 weeks ago

Wide range of trading instruments, responsive customer support, and a clean MT5 trading environment. Execution speed is also very good.

The broker could improve by offering more advanced trading tools and beginner learning materials.

I am satisfied with Bullwaves overall. The platform works well, trades are executed without delays, and support has been helpful when needed. It is a solid choice for active traders.

James T.

PRO

3 weeks ago

Reliable platform performance, competitive spreads, responsive customer support, and a straightforward trading environment.

I would like to see more advanced research features added in the future.

My experience with Bullwaves has been very positive. The trading platform works smoothly, execution speeds are fast, and account management is simple. I would recommend it to traders looking for an efficient and user-friendly broker.

Anthony Balbuena

PRO

4 weeks ago

The Withdrawal is exceptionally seamless, allowing users to transfer their funds quickly and without any unnecessary complications

Some features can be fixed such as latency issues during deposits but other than that everything else is exceptional

Bullwaves is an overall great platform and distributes the adequate amount of transparency towards it's clients and also provides top notch service for those who are new and unfamiliar with the field

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Commissions and Fees

Score:

9 /10

The trading and non-trading commissions of Bullwaves have been analyzed and rated as having Low fees, with a fees score of 9/10. Additionally, these commissions were compared with those of the top two competitors, ZForex and OANDA, to provide the most comprehensive information.

Low Forex trading fees
Tight EUR/USD market spread
No deposit fee
No withdrawal fee

Inactivity fee applies

Trading Fees and Spread

Below, we evaluated and compared the trading commissions of Bullwaves with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.

Standard Account Spread

For Standard accounts, Bullwaves’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.

Bullwaves Standard spreads
	Bullwaves	ZForex	OANDA
EUR/USD min, pips	0.00	0.1	0.1
EUR/USD max, pips	0.8	0.4	0.5
GPB/USD min, pips	0.01	0.2	0.1
GPB/USD max, pips	0.8	0.6	0.5

RAW/ECN Account Commission And Spread

The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.

Bullwaves RAW/ECN spreads
	ZForex	OANDA
Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency).	7	3.5
EUR/USD avg spread	0.1	0.15
GBP/USD avg spread	0.15	0.2

Non-Trading Fees

We conducted a detailed analysis of the non-trading fees associated with Bullwaves. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.

Bullwaves Non-Trading Fees
	Bullwaves	OANDA
Deposit fee, % The indicated amount does not include possible fees from payment systems and banks.	0	0
Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks.	0	0
Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks.	0	0-15
Inactivity fee ($, per month)	10	0

Is Bullwaves Safe?

Score:

3.7 /10

Bullwaves has a safety score of 3.7/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.

Is regulated
Negative balance protection

Not tier-1 regulated
Track record of less than 8 years

Bullwaves Regulators and Investor Protection
Abbreviation	Full Name	Country of regulation	Investor Protection Fund	Regulation Level
FSA (Seychelles)	Full Name Financial Services Authority of Seychelles	Country of regulation Seychelles	Investor Protection Fund No specific fund	Regulation Level Tier-3

Bullwaves Security Factors
Foundation date	-
Negative balance protection	Yes
Verification (KYC)	Yes

Account Types

Score:

7.6 /10

Bullwaves offers the following account options: Demo, Standard, ECN/Raw spread, Swap Free, VIP.

However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.

Standard account with balanced trading conditions
Tight spread ECN account
Demo account

No Cent account
Micro lots are not available

Bullwaves account types vs top competitors
	Bullwaves	ZForex	Plus500
Standard	Yes	Yes	Yes
ECN/Raw spread	Yes	Yes	No
Demo	Yes	Yes	Yes
Cent	No	No	No
Micro	No	No	No
Swap Free	Yes	Yes	Yes
VIP	Yes	No	No
Managed	No	No	No

Bullwaves accounts trading conditions

Bullwaves offers three account types that differ in minimum deposit, leverage, trading conditions, access to specific assets, and the automated risk management level.

Account Type	Description
Classic	This is a basic account type with a minimum deposit of $100. Leverage is up to 1:500 and all assets excluding stocks are available. Spreads start from 1.6 pips and the minimum order is 0.01 lots. Margin notifications are not available. The stop-out level is 50%.
VIP	It is the most popular account type designed for more experienced traders. The minimum deposit is $3,000, with leverage up to 1:500. All assets excluding stocks are available. Spreads start at 0.8 pips and the minimum order is 0.05 lots. Margin notifications are available. The stop-out level is 50%.
ECN	This is a premium account type with enhanced capabilities for professional traders. The minimum deposit is $5,000, with leverage up to 1:500. All assets are available. Spreads start at 0.1 pips and the minimum order is 0.1 lots. Margin notifications are available. The stop-out level is 25%.

Deposit and Withdrawal

Score:

8.5 /10

Bullwaves received a High score for the efficiency and convenience of its deposit and withdrawal processes.

Bullwaves excels by providing a broad selection of payment methods, ensuring minimal costs and a seamless experience for users seeking efficient fund management.

Low minimum withdrawal requirement
Wide variety of deposit and withdrawal options, reducing costs
Bank wire transfers available
PayPal supported

Only major base currencies available
BTC not available as a base account currency

What are Bullwaves deposit and withdrawal options?

Bullwaves stands out with an excellent selection of deposit and withdrawal methods, a variety of base currencies, and zero broker fees, making it an excellent choice for traders seeking low costs and maximum flexibility. Available methods include Bank Card, Bank Wire, PayPal, Wise, Payoneer, Skrill, Neteller, BTC, USDT.

Bullwaves Deposit and Withdrawal Methods vs Competitors
	Bullwaves	ZForex	Plus500
Bank Wire	Yes	No	Yes
Bank card	Yes	Yes	Yes
PayPal	Yes	No	Yes
Wise	Yes	No	No
BTC	Yes	Yes	No

What are Bullwaves base account currencies?

A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. Bullwaves supports the following base account currencies: USD, EUR, GBP, CHF.

What are Bullwaves's minimum deposit and withdrawal amounts?

The minimum deposit on Bullwaves is $100, while the minimum withdrawal amount is $2. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Bullwaves’s support team.

Markets and Tradable Assets

Score:

6 /10

Bullwaves offers a limited selection of trading assets compared to the market average. The platform supports 200 assets in total, including 50 Forex pairs.

Indices trading
ETFs investing
50 supported currency pairs

Bonds not available
Futures not available

Supported markets vs top competitors

We have compared the range of assets and markets supported by Bullwaves with its competitors, making it easier for you to find the perfect fit.

	Bullwaves	ZForex	Plus500
Currency pairs	50	50	60
Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs.	200	80	2800
Stocks	Yes	Yes	Yes
Commodity futures	Yes	Yes	Yes
Crypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada.	No	Yes	Yes
Stock indices	Yes	No	Yes
Options	No	No	Yes

Investment options

We also explored the trading assets and products Bullwaves offers for beginner traders and investors who prefer not to engage in active trading.

	Bullwaves	ZForex	Plus500
Bonds	No	No	No
ETFs	Yes	No	Yes
Copy trading	Yes	Yes	No
PAMM investing	No	No	No
Managed accounts	No	No	No

Trading Account Opening

Score:

10 /10

We successfully registered an account with Bullwaves in 8 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at Bullwaves is $100.

This is one of the most accessible and hassle-free onboarding procedures on the market.

Low minimum deposit requirement
Fully online account opening process
Quick KYC verification (1 business day or less)

Account setup process may feel less convenient for beginners

Bullwaves account opening
	Bullwaves	ZForex	Plus500
Online Registration	Yes	Yes	Yes
Minimum deposit	$100	$10	$100
Mandatory KYC	Yes	Yes	Yes
Registration time (min)	8	8	5
KYC time (days)	1	1	3

Is Bullwaves available in my country?

If you are a citizen of United States, the broker accepts clients from your country.

Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.

Account opening details

To open a trading account with Bullwaves, follow the instructions below:

Click Get started on the broker’s official website.
Complete a registration form, providing your personal information, and create a secure password.
Confirm your email address and sign in to the user account with your email and password.
Upload the documents required for verification.

Customer Support

Score:

8.1 /10

Bullwaves demonstrates a high level of customer support. Assistance is available through multiple channels, and most requests are handled quickly.

During TU testing, managers responded promptly, communication was clear and structured, and support continued until the issue was fully resolved. Overall, Bullwaves shows reliable service and active engagement with clients.

Information

Bullwaves offers 24/7 client support in 12 languages, accessible through multiple channels.

Real-time support
24/7 accessibility

Single phone number for all supported countries

Available communication channels include:

Live chat;
Email;
Phone;
Feedback form.

Contacts
Registration address	CT House, office number 9A, Providence, Mahe, Seychelles
Regulation	FSA (Seychelles) Licence number: 8434948-1
Official site	https://www.bullwaves.com/
Contacts	support@bullwaves.com +248 4379848

Best Bullwaves Alternatives

zForex

8.1 /10

Regulation Not regulated

EUR/USD 0.1 pips

Plus500

7.6 /10

Regulation Tier-1

EUR/USD 0.5 pips

OANDA

6.9 /10

Regulation Tier-1

EUR/USD 0.1 pips

Trading.com USA

6.2 /10

Regulation Tier-1

EUR/USD 0.9 pips

FOREX.com

6.9 /10

Regulation Tier-1

EUR/USD 0.7 pips

FAQs

How do reviews assess Bullwaves’ regulation and overall safety level?

Bullwaves has a safety score of 3.7/10 in the review, which corresponds to a low security level. It is regulated by the Financial Services Authority of Seychelles (FSA), a Tier-3 regulator, and offers negative balance protection and KYC verification, but it is not Tier-1 regulated and has a track record of less than 8 years, and no specific investor compensation fund is mentioned.

How are Bullwaves trading commissions and non-trading fees described in the review?

The review rates Bullwaves’ overall fee structure as low, giving it a fees score of 9/10. Standard account spreads on major pairs like EUR/USD typically range from 0.00 to 0.8 pips, there are no deposit or withdrawal fees, but an inactivity fee of $10 per month applies.

What account types and trading conditions does Bullwaves offer according to the review?

Bullwaves provides Demo, Standard, ECN/Raw spread, Swap Free (Islamic), and VIP accounts, but does not offer Cent or Micro accounts. The Classic account starts from a $100 minimum deposit with spreads from 1.6 pips, the VIP account from $3,000 with spreads from 0.8 pips, and the ECN account from $5,000 with spreads from 0.1 pips, with leverage up to 1:500 and varying minimum order sizes and stop-out levels.

What do reviews say about Bullwaves deposit and withdrawal methods and supported currencies?

The review notes that Bullwaves supports a wide range of funding methods, including bank cards, bank wire, PayPal, Wise, Payoneer, Skrill, Neteller, BTC, and USDT, and charges zero broker fees for deposits and withdrawals. It also states that base account currencies include USD, EUR, GBP, and CHF, and mentions that BTC is not available as a base currency and only major currencies are supported.

What does the review say about opening a trading account with Bullwaves?

According to the review, opening an account with Bullwaves is fully online, with registration taking about 8 minutes and KYC verification completed within 1 business day. The minimum deposit is $100, and while the process is described as accessible and quick, it may feel less convenient for beginners.