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 ProsCons Regulated by FSA in SeychellesHigh minimum deposit &10,000 for Elite account Offers MetaTrader 5 platformInactivity fee:$10 per month after 30 days Access to over 250 tradable assetsAsking for 10EUR ~ 100EUR withdrawal feesIs Bullwaves Legit？ Under licence number SD185, Bullwaves is a genuine trading platform run under control by Seychelles' Financial Services Authority (FSA). Regulatory AuthoritySeychelles Financial Services Authority (FSA) License TypeRetail Forex License Current StatusOffshore Regulated License No.SD185 Licensed InstitutionEquitex Capital LimitedWhat Can I Trade on Bullwaves？ Bullwaves provides more than 250 financial products, including forex, indices, commodities, shares, metals, and ETFs. But cryptocurrencies are excluded. Tradable InstrumentsSupported Forex✔ Indices✔ Commodities✔ Shares✔ Metals✔ ETFs✔ Cryptocurrencies❌ Binary Options❌Account Types Classic, VIP, and Elite are the three live trading accounts Bullwaves provides. There is a demo account, but no Islamic account. Account NameLeverageSpread FromCommissions FromMin. DepositStop OutMargin EmailSuitable For Classic1:2002.0 pips$10$25050%NoBeginner and intermediate traders VIP1:4001.5 pips$10$10,00035%YesAdvanced traders Elite1:5001.1 pips$10$50,00025%YesProfessional and high-volume tradersBullwaves 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. AccountSpreads(From)Commissions(From) Classic2.0 pips$10 VIP1.5 pips$10 Elite1.1 pips$10Non-Trading Fees Inactivity fee: Bullwaves asks for $10 every month following thirty days for inactive account.Trading Platform Trading PlatformSupportedAvailable DevicesSuitable for MetaTrader 5 (MT5)✔Web, Windows, Mac, iOS, AndroidBeginners to advanced traders Autochartist✔Web, DesktopAll traders MT5 WebTrader✔Web-basedPrefer browser traders MT5 NexGeneration✔Web, DesktopExperienced tradersDeposit 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 Deposit OptionsMin. DepositFeesProcessing Time Credit/Debit Cards$50NoneInstant Bank Wire Transfers$50None2-5 working days E-wallets$50NoneInstant 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. Withdrawal OptionsMin. Withdrawal AmountFeesProcessing Time Bank Wire Transfer100 EUR10 EUR for amounts ≤ 100 EUR2-5 working days Other Withdrawal Methods20 EUR10 EUR for amounts ≤ 20 EURVaries depending on method Credit/Debit Card RefundsNot specifiedNo fixed fee, but provider fees may applyVaries depending on providerCustomer 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. Contact OptionsDetails Phone+44 7700 100833 Emailsupport@bullwaves.com Online Chat✔ Social MediaWhatsApp, Telegram Supported LanguagesEnglish Website LanguageEnglish Physical AddressOffice No. Al9C, Providence Complex, Seychelles Live Chat✔ Contact Form✔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.