Bullwaves is a CFD broker ranked #28, offering commission-free trading with MT4 and MT5 platforms but lacking strong regulatory oversight and customer support. It is regulated by the FSA of Seychelles, a lower-tier authority, and does not publicly disclose financial data, raising concerns about transparency. The broker provides three account types with varying spreads and leverage, supports crypto deposits via USDT, but does not offer cryptocurrency trading. Trading fees are built into the spreads, and additional costs include withdrawal and inactivity fees, making it less attractive for cost-conscious traders. Due to its limited asset selection, weak regulation, and poor customer service, Bullwaves is not an ideal choice for traders seeking diverse instruments or cryptocurrency trading.
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Bullwaves Broker Review: Crypto Deposits, Trading Fees & Platform Insights
Explore Bullwaves’ commission-free trading with MT4 & MT5, but be aware of its regulatory limitations and lack of crypto trading!
| Feature | Details |
|---|---|
| Regulation | FSA (Seychelles) – Low-tier oversight |
| Account Types | Classic ($250 min deposit), VIP ($10,000 min deposit), Elite ($50,000 min deposit) |
| Trading Costs | Commission-free, but high spreads (2.0 pips for Classic, 1.1 pips for Elite) |
| Platforms | MT4, MT5 – No TradingView or cTrader integration |
| Customer Support | Poor – No real-time chat support, delayed email responses |
| Available Markets | Forex (33 pairs), Metals (Gold & Silver), Indices (S&P 500, Dow Jones, Nasdaq-100) |
| Deposit Methods | Debit/Credit Cards, Neteller, Wire Transfers, USDT (TRC20 & ERC20) |
| Crypto Trading | No cryptocurrency trading available, despite accepting USDT deposits |
| Additional Fees | $10 inactivity fee after 30 days, €10 bank withdrawal fee under €100 |
| Best Alternative Brokers | eToro (Crypto trading), Binance (Crypto exchange), IG (Regulated forex & CFD trading) |
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Comprehensive Guide to Bullwaves: A Cryptocurrency Trading Perspective
Bullwaves is ranked #28 among CFD brokers and has yet to receive customer reviews. This guide provides an in-depth examination of its trading offerings, focusing on cryptocurrency trading while covering its features, regulation, account types, platforms, fees, and overall reliability.
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Regulation and Security
Bullwaves operates under Equitex Capital Limited and is licensed by the Financial Services Authority of Seychelles (FSA). However, this regulator is classified as “red tier”, meaning it lacks the oversight and strict compliance standards of higher-tier regulators such as the FCA or ASIC. While Bullwaves claims to maintain segregated accounts for client funds and provide negative balance protection, it does not publicly disclose financial data or hold a listing on any stock exchange.
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Account Types and Banking Options
Bullwaves provides three account types catering to different levels of experience and investment:
- Classic Account ($250 minimum deposit, spreads from 2.0 pips, leverage up to 1:200, 0.01 lot minimum trade size).
- VIP Account ($10,000 minimum deposit, spreads from 1.5 pips, leverage up to 1:200, 0.05 lot minimum trade size).
- Elite Account ($50,000 minimum deposit, spreads from 1.1 pips, leverage up to 1:500, 0.1 lot minimum trade size).
All accounts permit the use of Expert Advisors (EAs), scalping, hedging, and Virtual Private Servers (VPS). However, Bullwaves does not offer PAMM accounts, which are often preferred by money managers handling multiple portfolios.
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Deposit and Withdrawal Methods
Users can fund their accounts via:
- Debit and credit cards (Visa, Mastercard)
- Neteller
- Wire transfers
Despite allowing cryptocurrency deposits (USDT via TRC20 and ERC20), Bullwaves does not support Bitcoin, Litecoin, or other widely traded cryptocurrencies. Withdrawals are returned to the original funding method and processed with some restrictions, including a fixed €10 fee on bank wire withdrawals under €100.
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Trading Instruments
Bullwaves offers a limited selection of assets, including:
- 33 forex pairs (major and minor, no exotic pairs)
- 2 CFDs on precious metals (gold and silver)
- 6 major stock indices (Germany 40, FTSE 100, S&P 500, Dow Jones, Nasdaq-100, CAC 40)
Bullwaves does not provide trading options for real stocks, ETFs, commodities (other than gold and silver), cryptocurrencies, or options. The lack of cryptocurrency CFD trading is particularly surprising given that the broker accepts crypto deposits.
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Trading Fees and Costs
Bullwaves promotes commission-free trading, meaning costs are built into the spreads. For major currency pairs like EUR/USD and USD/JPY, spreads start from 2.0 pips with the Classic Account, decreasing with VIP and Elite tiers.
- Inactivity fee: $10 per month after 30 days of no trading
- Bank wire withdrawal fee: €10 for transactions under €100
Compared to brokers offering zero-spread accounts with low commissions, Bullwaves’ pricing may not be ideal for day traders or scalpers looking to maximize cost efficiency.
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Trading Platforms
Bullwaves supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the most widely used platforms in online trading. These platforms are accessible via:
- Desktop
- Mobile (iOS and Android)
- Web browser
MT4 is generally preferred for forex trading due to its straightforward interface and vast selection of technical indicators, while MT5 offers faster execution, more asset classes, and enhanced backtesting capabilities.
Notable Limitations
Bullwaves does not provide access to other popular trading platforms like TradingView or cTrader. Additionally, despite embedding TradingView content on its website, there is no actual integration with the platform.
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Customer Support
Bullwaves claims to provide 24/7 live chat support, but this was found to be misleading. Tests revealed that:
- No chat support was available at any time.
- Emails went unanswered.
- Phone support is limited to a Seychelles-based number.
For traders who require prompt assistance, alternative brokers with responsive support teams would be more suitable.
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Research and Education
Bullwaves offers no educational resources, research tools, or market analysis features. Unlike brokers such as IG or Swissquote, which provide comprehensive learning materials and real-time market insights, Bullwaves does not support new traders in building their skills.
Suitability for Cryptocurrency Trading
Despite allowing USDT deposits and withdrawals, Bullwaves does not facilitate cryptocurrency trading. This makes it a poor choice for those looking to speculate on digital assets. Brokers such as eToro or Binance provide more extensive crypto trading options.
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Final Assessment
Pros:
- ✔ Quick account registration
- ✔ No commission trading
- ✔ Supports both MT4 and MT5
- ✔ Accepts cryptocurrency deposits
Cons:
- ✘ Weak regulatory oversight
- ✘ No actual cryptocurrency trading
- ✘ Poor customer support
- ✘ Limited selection of tradable instruments
- ✘ No educational or research tools
Bullwaves may be worth considering for traders who only focus on forex and indices and require MT4/MT5 compatibility. However, due to its weak regulation, lack of market variety, absence of educational tools, and unresponsive support, most traders—especially those interested in cryptocurrency—may find better options elsewhere.
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FAQs
- Is Bullwaves a regulated broker?
- Yes, Bullwaves is regulated by the Financial Services Authority (FSA) of Seychelles, which is considered a low-tier regulator.
- Can I trade cryptocurrencies on Bullwaves?
- No, Bullwaves allows USDT deposits but does not offer cryptocurrency trading options.
- What trading platforms does Bullwaves support?
- Bullwaves offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for desktop, mobile, and web trading.
- What are the account types available at Bullwaves?
- Bullwaves offers Classic ($250 min deposit), VIP ($10,000 min deposit), and Elite ($50,000 min deposit) accounts with varying spreads and leverage.
- Does Bullwaves charge commissions?
- No, Bullwaves does not charge commissions, but its spreads are higher compared to other brokers.
- Which financial instruments can I trade with Bullwaves?
- Bullwaves provides forex (33 pairs), metals (gold & silver), and indices (S&P 500, Dow Jones, Nasdaq-100, etc.).
- What payment methods does Bullwaves support?
- Deposits can be made using debit/credit cards (Visa, Mastercard), Neteller, wire transfers, and USDT (TRC20 & ERC20).
- Are there any hidden fees at Bullwaves?
- Bullwaves has withdrawal fees (€10 for bank wire transactions under €100) and an inactivity fee of $10 after 30 days.
- Is Bullwaves a good choice for beginners?
- No, Bullwaves lacks educational resources, research tools, and proper customer support, making it less suitable for new traders.
- Which brokers offer better cryptocurrency trading options?
- Traders looking for crypto trading should consider eToro, Binance, or Kraken for a more extensive selection of digital assets.
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Account Opening Procedure for Cryptocurrency Trading
BullWaves offers a straightforward process for creating a cryptocurrency trading account. The following steps outline how traders can register and start trading on the platform.
Steps to Open an Account
- Registration: Visit the official BullWaves website and locate the sign-up page. Provide personal details such as **name, email address, and phone number**.
- Verification: After completing the registration, users must **verify their identity** by submitting a government-issued **ID and proof of residence**. This process helps ensure compliance with financial regulations.
- Account Selection: Choose from the available account types—**Classic, VIP, or Elite**—each offering different spreads and leverage options.
- Funding the Account: Make an initial deposit using one of the supported **payment methods** such as **Visa, Mastercard, Neteller, wire transfer, or cryptocurrency (USDT – TRC20/ERC20)**.
- Platform Access: Once funds are credited, traders can **log in to MT4 or MT5**, set up their trading preferences, and start executing trades.
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Account Types and Features
| Account Type | Minimum Deposit | Spread (from) | Leverage | Minimum Trade Size |
|---|---|---|---|---|
| Classic | $250 | 2.0 pips | 1:200 | 0.01 lots |
| VIP | $10,000 | 1.5 pips | 1:300 | 0.05 lots |
| Elite | $50,000 | 1.1 pips | 1:500 | 0.1 lots |
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Funding Options
BullWaves provides multiple deposit and withdrawal methods, ensuring convenience for traders.
- Debit & Credit Cards: Visa, Mastercard
- E-Wallets: Neteller
- Bank Transfers: Wire transfers (processing time: **3-5 business days**)
- Cryptocurrency Deposits: USDT (TRC20 & ERC20) – Automatically converted into **USD or EUR**
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Demo Account Availability
BullWaves offers a risk-free demo account exclusively on the MT5 platform. Traders can use this feature to practice strategies without financial risks. However, MT4 demo accounts are not available, which might be a limitation for those preferring this platform.
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Challenges and Limitations
- Regulatory Status
- BullWaves is regulated by the **Seychelles FSA**, which does not offer the same level of oversight as authorities such as the **FCA or ASIC**.
- Customer Support Issues
- Despite claiming **24/7 support**, customer service responses have been unreliable, with reports of **unanswered emails**.
- Limited Trading Instruments
- Unlike competitors, BullWaves does not support direct **cryptocurrency trading**, only deposits via USDT.
BullWaves offers a simple account opening process, a choice between MT4 and MT5, and various funding methods. However, regulatory concerns, support issues, and trading limitations make it less competitive compared to industry leaders. Traders looking for a broader cryptocurrency trading experience might want to explore other options before committing to this broker.
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Regulation and License
BullWaves operates under Equitex Capital Limited, holding a license from the Financial Services Authority of Seychelles (FSA). While this regulator imposes compliance and operational guidelines, it does not provide the same level of oversight as more established financial authorities.
Regulatory Status
- Regulatory Authority: Financial Services Authority of Seychelles (FSA)
- Compliance Level: Lacks authorization from major financial regulators such as the **FCA (UK)**, **ASIC (Australia)**, or **SEC (US)**
- Fund Protection: Claims to hold client funds in **segregated accounts**
- Investor Safeguards: Provides **negative balance protection**
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Comparison With Other Brokers
| Broker | Regulatory Authority | Investor Protection | Trust Rating |
|---|---|---|---|
| BullWaves | FSA (Seychelles) | Negative Balance Protection, Segregated Funds | 2.5 / 5 |
| IG | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM | FSCS Protection (UK), ASIC Client Fund Protection | 4.7 / 5 |
| Swissquote | FCA, FINMA, CSSF, DFSA, SFC, MAS, MFSA, CySEC, FSCA | Regulated by Swiss Banking Law, Investor Compensation Fund | 4 / 5 |
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Impact on Cryptocurrency Traders
- No Direct Crypto Trading
- Despite accepting **USDT deposits**, BullWaves does **not offer cryptocurrency trading**, meaning traders cannot buy or sell actual **Bitcoin, Ethereum, or other digital assets**.
- No Crypto-Specific Regulation
- Unlike brokers regulated by **CySEC or FINMA**, which have cryptocurrency trading **licenses**, BullWaves does not have a regulatory framework tailored to **digital asset trading**.
- Potential Risks
- The **Seychelles FSA** does not impose strict **fund protection requirements**, leaving crypto traders with limited options for **legal recourse in case of disputes**.
BullWaves’ regulatory status makes it less appealing for cryptocurrency traders seeking strong oversight and fund security. While the broker supports crypto deposits, the lack of direct crypto trading options and approval from major financial authorities limits its credibility compared to regulated competitors.
Traders looking for a more secure cryptocurrency trading environment may consider brokers authorized by FCA, CySEC, or FINMA for enhanced investor protection and regulatory oversight.
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Best Account Types for Cryptocurrency Traders
BullWaves offers three main account types, each designed for different levels of trading experience. While the broker supports cryptocurrency deposits, it does not provide direct crypto trading. Instead, all crypto deposits are converted into USD or EUR for trading on CFDs, forex, and other financial instruments.
Account Comparison
| Account Type | Minimum Deposit | Spreads (from) | Leverage | Minimum Trade Size | Stop-Out Level |
|---|---|---|---|---|---|
| Classic | $250 | 2.0 pips | 1:200 | 0.01 lots | 50% |
| VIP | $10,000 | 1.5 pips | 1:300 | 0.05 lots | 35% |
| Elite | $50,000 | 1.1 pips | 1:500 | 0.1 lots | 25% |
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Account Features
- Classic Account
- – Best for beginners with **low deposit requirements**
- – Spreads start from **2.0 pips**, higher than competitive brokers
- – Leverage up to **1:200**, allowing for moderate risk
- VIP Account
- – Suitable for traders looking for **tighter spreads** (from 1.5 pips)
- – Leverage up to **1:300**, offering increased trade flexibility
- – Requires a **$10,000 deposit**, making it less accessible for casual traders
- Elite Account
- – Lowest spreads starting from **1.1 pips**
- – Maximum leverage of **1:500**, suitable for experienced traders
- – Requires a **high deposit of $50,000**, restricting accessibility
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Which Account is Best for Cryptocurrency Traders?
- For Beginners: The **Classic Account** is the most accessible option with a low **$250 deposit**.
- For Active Traders: The **VIP Account** offers improved trading conditions but requires a higher **$10,000 deposit**.
- For High-Net-Worth Traders: The **Elite Account** provides **tight spreads and high leverage**, but the **$50,000 deposit** requirement is a barrier for most.
BullWaves provides account options for different trading levels but lacks crypto trading features. While crypto deposits are accepted, they are converted to fiat currency, limiting direct exposure to Bitcoin, Ethereum, or other digital assets. Traders looking for a crypto-focused experience may find other brokers with direct crypto trading more suitable.
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Spread and Commission at BullWaves
BullWaves offers commission-free trading across all account types, meaning traders are only charged through spreads. However, the spreads vary significantly depending on the account selected. While this structure may appeal to those who want to avoid commission-based pricing, the spreads on BullWaves are relatively high compared to industry leaders.
Spread Comparison by Account Type
| Account Type | Spreads (from) | Commission |
|---|---|---|
| Classic | 2.0 pips | None |
| VIP | 1.5 pips | None |
| Elite | 1.1 pips | None |
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Comparison With Other Brokers
| Broker | EUR/USD Spread | Commission |
|---|---|---|
| BullWaves | From 2.0 pips | None |
| IG | 0.8 pips | None |
| Swissquote | 1.3 pips | None |
| IC Markets | 0.0 pips | $3.50 per lot |
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Impact on Cryptocurrency Traders
- No Direct Cryptocurrency Trading
- BullWaves does **not offer cryptocurrency trading**, meaning traders cannot buy or sell actual **Bitcoin, Ethereum, or other digital assets**.
- High Spreads Affecting CFD Trading
- Even though traders can deposit using **USDT (TRC20 & ERC20)**, the higher spreads make CFD trading **more expensive** than other brokers.
- Potential for Hidden Costs
- Since BullWaves lacks **cryptocurrency CFDs**, traders must trade **forex, indices, or metals**, where **wider spreads can increase trading expenses**.
BullWaves may appeal to traders who prefer a commission-free structure, but the high spreads make it less cost-effective compared to brokers offering tight spreads with small commissions. The lack of cryptocurrency trading is another disadvantage for traders looking to engage in digital assets.
For those focused on crypto or cost-efficient trading, it may be worth considering brokers with tighter spreads or direct crypto trading support.
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Maximum Leverage at BullWaves
BullWaves offers different leverage levels depending on the account type, with a maximum of 1:500. This allows traders to amplify their positions, increasing both potential profits and risks.
Leverage Comparison by Account Type
| Account Type | Maximum Leverage | Minimum Deposit |
|---|---|---|
| Classic | 1:200 | $250 |
| VIP | 1:300 | $10,000 |
| Elite | 1:500 | $50,000 |
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Comparison With Other Brokers
| Broker | Maximum Leverage | Regulated by |
|---|---|---|
| BullWaves | 1:500 | FSA (Seychelles) |
| IG | 1:30 (Retail), 1:222 (Pro) | FCA, ASIC, NFA, CFTC, BaFin |
| Swissquote | 1:100 (Retail), 1:400 (Pro) | FCA, FINMA, DFSA |
| FP Markets | 1:500 | ASIC, CySEC |
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Impact on Cryptocurrency Traders
- No Direct Cryptocurrency Trading
- BullWaves does **not support direct crypto trading**—crypto deposits are converted to **USD or EUR**, meaning traders cannot hold or trade digital assets.
- Limited Leverage Options for Crypto Markets
- Unlike other brokers that offer **crypto leverage**, BullWaves does not provide margin trading on **Bitcoin, Ethereum, or other cryptocurrencies**.
- High Leverage Increases Risk
- While **1:500 leverage** may be attractive to some traders, it also increases **volatility exposure**, making risk management essential.
BullWaves provides high leverage up to 1:500, but it does not support cryptocurrency trading. While traders can use leverage on forex, indices, and metals, those seeking crypto margin trading may need to consider brokers that offer direct crypto leverage.
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Minimum Deposit Requirement at BullWaves
BullWaves offers three account types, each with different minimum deposit requirements. The Classic Account is the most accessible option, while the Elite Account is tailored for traders with larger capital.
Minimum Deposit by Account Type
| Account Type | Minimum Deposit | Leverage | Spreads From |
|---|---|---|---|
| Classic | $250 | 1:200 | 2.0 pips |
| VIP | $10,000 | 1:300 | 1.5 pips |
| Elite | $50,000 | 1:500 | 1.1 pips |
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Comparison With Other Brokers
| Broker | Minimum Deposit | Regulated by |
|---|---|---|
| BullWaves | $250 | FSA (Seychelles) |
| IG | $0 | FCA, ASIC, NFA, CFTC, BaFin |
| Swissquote | $1,000 | FCA, FINMA, DFSA |
| FP Markets | $40 | ASIC, CySEC |
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Considerations for Cryptocurrency Traders
- No Direct Crypto Trading
- BullWaves **does not offer cryptocurrency trading**, even though it supports **USDT deposits**.
- Conversion to Fiat
- All **crypto deposits** are automatically converted into **USD or EUR**, limiting traders who prefer to **hold digital assets**.
- Limited Payment Methods
- Popular crypto payment options like **Bitcoin and Litecoin** are not supported, restricting traders who rely on **crypto-based transactions**.
BullWaves requires a minimum deposit of $250 for its Classic Account, making it accessible for most traders. However, those interested in crypto trading may find limitations due to the lack of digital asset trading and automatic conversion into fiat currencies.
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Fund Withdrawal Procedure at BullWaves
BullWaves provides a straightforward withdrawal process, but there are some limitations and fees that traders should consider, especially those dealing with cryptocurrency transactions.
Available Withdrawal Methods
BullWaves allows users to withdraw funds using several payment options, including traditional banking and digital methods.
- Bank Wire Transfer – Standard bank withdrawals take **3-5 business days**.
- Debit & Credit Cards – Includes **Visa, Mastercard, and virtual cards**.
- E-Wallets – Supports **Neteller**, but lacks PayPal or Skrill.
- USDT (Tether) – Available in **TRC20 and ERC20 networks**.
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Withdrawal Fees and Processing Time
Fees apply depending on the method and amount being withdrawn.
| Withdrawal Method | Processing Time | Fee |
|---|---|---|
| Bank Wire Transfer | 3-5 Business Days | $10 (if ≤ $100) |
| Credit/Debit Cards | 1-3 Business Days | Free (Refunds Only) |
| Neteller | Instant – 24 Hours | $10 (if ≤ $20) |
| USDT (Tether) | Instant – 24 Hours | Variable Network Fees |
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Steps to Withdraw Funds
- Step 1: Log in to Your Account
- Access the **client dashboard** on the BullWaves website.
- Step 2: Select Withdrawal Method
- Choose a **payment method** that matches your original deposit.
- Step 3: Enter Withdrawal Details
- Provide the **amount and account details** for the transfer.
- Step 4: Confirm and Submit
- Check the **withdrawal request** and confirm the transaction.
- Step 5: Wait for Processing
- Funds will be processed within **24 hours to 5 business days** based on the method used.
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Key Considerations for Cryptocurrency Traders
- Only USDT (Tether) is supported, with **no Bitcoin, Ethereum, or other crypto withdrawal options**.
- Automatic Conversion – Crypto deposits are **converted into USD or EUR**, and withdrawals must be made in these fiat currencies.
- Network Fees – Withdrawals via **TRC20 or ERC20 networks** may incur additional blockchain fees.
The withdrawal process at BullWaves is relatively simple, but it lacks the flexibility found in other platforms. While USDT is available, the absence of Bitcoin and other cryptocurrencies may be a drawback for some traders.
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Conditions for Deposits and Withdrawals at BullWaves
BullWaves provides multiple funding and withdrawal methods, but there are certain conditions that traders should be aware of when managing their funds, particularly for those involved in cryptocurrency trading.
Deposit Requirements
- Minimum Deposit – The entry-level deposit requirement is **$250**, applicable to the **Classic Account**.
- Supported Currencies – Deposits are processed in **USD and EUR only**.
- Cryptocurrency Deposits – **USDT (Tether)** is supported on **TRC20 and ERC20 networks**, but **Bitcoin and other cryptocurrencies are not available**.
- Processing Time – Deposits via **cards, e-wallets, and crypto** are generally **instant**, while **bank wires** can take **3-5 business days**.
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Withdrawal Conditions
BullWaves enforces specific policies when users request to withdraw funds.
- Withdrawal Method Must Match Deposit Method – To comply with **anti-money laundering policies**, users can only withdraw funds through the same method used for deposits.
- Processing Time – E-wallet and **crypto withdrawals** are processed **within 24 hours**, while **bank wire and card withdrawals** may take **up to 5 business days**.
- Fixed Fees for Small Withdrawals – Bank wire and e-wallet withdrawals below a specific amount incur **$10 in fees**.
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Fees and Processing Time
| Method | Deposit Processing Time | Withdrawal Processing Time | Fees |
|---|---|---|---|
| Bank Wire | 3-5 Business Days | 3-5 Business Days | $10 (if ≤ $100 withdrawal) |
| Credit/Debit Cards | Instant | 1-3 Business Days | Free (Refunds Only) |
| Neteller | Instant | Instant – 24 Hours | $10 (if ≤ $20 withdrawal) |
| USDT (Tether) | Instant | Instant – 24 Hours | Variable Network Fees |
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Important Notes for Cryptocurrency Traders
- Only USDT is Accepted – **Bitcoin, Ethereum, and other cryptocurrencies** are not supported for deposits or withdrawals.
- Network Fees Apply – Crypto withdrawals are subject to **TRC20 or ERC20 network fees**, which vary based on blockchain conditions.
- Funds Are Converted – Deposits in **USDT are automatically converted into USD or EUR**, affecting potential currency value fluctuations.
While BullWaves offers multiple payment methods, restrictions on cryptocurrencies and fees for smaller withdrawals may not be ideal for active crypto traders. USDT availability is a plus, but the lack of Bitcoin and other crypto options limits flexibility.
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BullWaves Bonus Promotions
BullWaves offers bonus promotions to incentivize traders, though details may vary over time. Below are the key conditions and considerations for these promotions, particularly for those involved in cryptocurrency trading.
Types of Bonuses
- Deposit Bonus – Traders receive a percentage-based bonus on their initial deposit, which increases available trading capital.
- Trading Credit – Bonus funds can be used to open and manage positions but cannot be withdrawn directly.
- Referral Bonus – Users who invite others to join BullWaves may receive additional trading credits upon the referral’s first deposit.
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Bonus Terms and Conditions
To prevent misuse, BullWaves applies strict conditions to its bonus promotions.
- Trading Volume Requirement
- Traders must meet a specific **lot-based trading volume** before withdrawing bonus-related profits.
- Non-Withdrawable Bonus
- The bonus itself **cannot be withdrawn**—only profits earned from trading with the bonus may be eligible for withdrawal.
- Expiration Period
- Some bonuses may expire if the trader does not meet the conditions within a specific timeframe.
- Account Restrictions
- Bonus promotions may be limited to **specific account types**, and some accounts might not be eligible.
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Impact on Cryptocurrency Traders
- Bonus is in Fiat – Since BullWaves processes funds in **USD and EUR**, crypto traders will receive **fiat-based bonuses**, not cryptocurrency credits.
- Limited Crypto Trading Options – BullWaves does **not** offer cryptocurrency trading, so bonus funds can only be used for **forex and CFD trading**.
- Leverage Impact – The bonus increases available margin, but high leverage still carries **significant risk**.
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Bonus Comparison with Other Brokers
| Broker | Deposit Bonus | Referral Bonus | Crypto Trading with Bonus |
|---|---|---|---|
| BullWaves | Yes | Yes | No |
| IG | No | No | Yes |
| Swissquote | No | No | Yes |
| FP Markets | Yes | No | Yes |
BullWaves’ bonus promotions provide additional trading capital, but conditions on withdrawals, trading volume, and eligible markets can limit their appeal. Crypto traders should consider the lack of cryptocurrency trading options before relying on these offers.
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Comment by jetonwhy
February 16, 2025
Anyone else finding it weird that Deriv only allows deposits through Jeton and not bank transfers? They’ve removed crypto too, so now it’s just cards and Jeton. Kinda frustratin...