Equitex Capital Limited

Bullwaves is the trading name of Equitex Capital Limited, a forex and CFD broker registered in Seychelles (Registration No. 8434948-1). The company is headquartered in Mahe, Seychelles, with its legal address at CT House, office number 9A, Providence. Bullwaves.com serves as the official domain, offering trading services primarily to retail clients worldwide.

The broker launched at an unspecified date but its management team claims over a decade of collective industry experience. Bullwaves positions itself as a multi-asset broker, providing access to forex, indices, commodities, metals, shares, and ETFs. The broker is regulated by the Financial Services Authority (FSA) of Seychelles under licence, a tier‑3 regulator that imposes less stringent capital and operational requirements compared to top‑tier authorities like the FCA or CySEC.

Equitex Capital Limited holds a Securities Dealer licence from the FSA Seychelles (licence). The FSA is the primary financial regulator in Seychelles, but it is not considered a major regulatory body by global standards. Its oversight includes anti‑money laundering compliance and client fund segregation requirements, though investor compensation schemes are absent.

Traders should note that Seychelles regulation offers limited recourse in case of dispute. While Bullwaves prominently displays its FSA licence on its website, the jurisdiction’s regulatory framework is less comprehensive than that of European or Australian authorities. FXCanary’s research team cross‑checked the licence against the FSA’s public register and confirmed it is currently active.

Bullwaves offers the MetaTrader 5 (MT5) platform, available on desktop (Windows/Mac), web, iOS, and Android. MT5 is a widely respected multi‑asset platform known for advanced charting tools, automated trading via Expert Advisors (EAs), and market depth. The broker also provides a proprietary WebTrader interface for browser‑based trading.

The choice of MT5 suits both novice and experienced traders, though Bullwaves does not offer the older MT4 platform. The broker claims its platform is optimized for ECN/STP execution, with ultra‑low latency and no requotes. Additionally, a feature called Bullwaves AI Insights is promoted as an AI‑powered market analysis tool.

Three account tiers are available: Classic, VIP, and ECN. The Classic account is designed for beginners with standard spreads and no commission, while the VIP account offers tighter spreads for higher deposit thresholds. The ECN account provides raw spreads from 0.0 pips with a per‑lot commission. Leverage is offered up to 1:500, and the minimum deposit across all accounts is $100.

Spreads are advertised from 0.1 pips on major pairs, though actual spreads may vary based on market conditions. Bullwaves states there are no hidden fees, and deposit and withdrawal processes are transparent. Inactivity fees or conversion fees are not explicitly mentioned on the website.

The broker claims to offer over 500 tradable instruments. This includes major, minor, and exotic forex pairs, global indices (e.g., S&P 500, Nikkei 225), commodities (gold, oil, softs), precious metals, individual shares, and ETFs. All instruments are offered as contracts for difference (CFDs), which means traders speculate on price movements without owning the underlying asset.

Bullwaves does not offer cryptocurrency trading directly, but some digital assets may be accessible via CFDs. The product range is competitive for a mid‑size broker, though it is not as extensive as some larger competitors. Demonstration accounts are available for practice.

Deposits and withdrawals are processed through Visa, Mastercard, Apple Pay, Google Pay, Bitcoin, and bank wire transfers. Bullwaves promotes instant withdrawals, though processing times may depend on the method used. The broker states it does not charge withdrawal fees, but third‑party payment providers may apply their own charges.

Customer support is available 24/7 via live chat, email, and phone. The website includes a detailed FAQ section and a help center covering account, funding, and trading queries. Support is offered in multiple languages, reflecting the broker’s international client base.