FSA licence SD185

By email at support@bullwaves.com, by raising a ticket in the client dashboard, by WhatsApp on +357 96007289 or by telephone on +44 7488 822576. Complaints go to complaints@bullwaves.com and compliance matters to compliance@bullwaves.com.

The registered postal address is First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St Vincent and the Grenadines.

Three live accounts, all on MetaTrader 5 with 1:500 leverage and a 0.01 lot minimum trade. Classic starts at 100 USD with spreads from 1.6 pips, VIP at 3,000 USD with spreads from 0.8 pips, and ECN at 5,000 USD with spreads from 0.1 pips and a tighter 25 per cent stop out.

You may hold up to six accounts, two of each type. No swap free or Islamic account is published.

The site's footer says the service is not directed at or offered to residents of Belgium, the Maldives, North Korea, the United States, Afghanistan, the Central African Republic, China, Cuba, Libya, Nicaragua, Venezuela and the Palestinian territories, nor to jurisdictions on FATF and EU or UN sanctions lists. A separate disclaimer says the site is not addressed to EU residents, and the help centre confirms that US citizens and residents are refused.

In practice the registration form enforces none of this: its country list contains almost every country in the world, including the ones the footer names.

Yes, but the site publishes two different versions of it and they do not agree. The Client Services Agreement sets 20 units of your account base currency for each month of inactivity, triggered after three consecutive months with no trade and no deposit, with 60 units taken at the end of the third month.

The help centre sets a different rule: 10 USD per month after only 30 consecutive days of inactivity. Ask support in writing which one applies to your account before you leave a balance idle.

Yes, on small amounts. A fixed 10 EUR applies to bank wire withdrawals of 100 EUR or less, and to any other withdrawal of 20 EUR or less except card refunds. Withdrawals below 2 EUR cannot be processed at all.

Deposits are free of broker charges, although your own bank or card provider may charge you. Withdrawals must follow the route the money arrived by: card deposits go back to the card first, then e-wallet deposits to the wallet, and only then can profits be taken by bank transfer.

It depends on the route. The broker states that requests are usually processed within one working day, then the money takes 3 to 5 working days by international bank wire, up to 2 working days by SEPA or local transfer, 2 to 7 working days by card and sometimes as long as 10, and 10 minutes to a few hours to an e-wallet. Some card processors are said to take up to 15 working days.

The funding team works Monday to Friday, 08:00 to 21:00 GMT+2, so requests outside those hours wait for the next working day. The site's separate claim of instant withdrawals is not consistent with these published times.

MetaTrader 5 only. It is offered as a browser based WebTrader, a desktop build and Android and iOS apps. The broker adds its own plugin set, marketed as MT5 NexGeneration, and an AI market analysis tool.

There is no direct download link on the site; the platform is reached after you register an account.

Up to 1:500 on all three account types. The company reserves the right to change margin and leverage levels at its own discretion and without prior notice, and it may cut leverage on non forex instruments around Friday evenings and major economic news.

Positions are closed automatically when margin falls to the account's stop out level, which is 50 per cent on Classic and VIP and 25 per cent on ECN.

100 USD opens the entry level Classic account. The VIP account requires 3,000 USD and the ECN account 5,000 USD. The higher tiers buy tighter spreads rather than different instruments; all three give access to the same product range.

Nothing we found shows fraud, and the company behind the brand is real and verifiable, but too little could be confirmed to call it safe either. The operating company exists on an official register, the legal documents are detailed, and the fee schedule is published in full.

What is missing is any licence a client can verify, and the company names two different regulators for the same licence number. Treat it as unverified rather than proven either way.

Bullwaves.global is owned by Moonance LLC, a limited liability company incorporated in St Vincent and the Grenadines on 27 April 2022 under registration number 2141. We confirmed that entry as active on the country's official company register.

A Cyprus company, ETX Services Ltd, registration HE 455407, is named as Independent Representative and Distributor and handles payments. Note that a separate site at bullwaves.com uses the same brand but names a different owner, Equitex Capital Limited of the Seychelles.

No regulation could be confirmed. The site's footer states that the operating company, Moonance LLC, is authorised and regulated by MISA under licence number T2022122, but that is a claim rather than a confirmed licence. MISA is an offshore authority in the Comoros that runs no public licence lookup, so the number cannot be checked by a client or by us.

The company's own Client Services Agreement makes matters worse by attributing the same number to the Financial Services Authority of Saint Vincent and the Grenadines, a different authority in a different country.