Bullwaves Prime: 1-step and 2-step prices and rules

Challenges from

$59

$5K account

Profit split

80%

best on offer

Programs

1-step, 2-step

8 challenges

Accounts up to

$400K

Trailing, Static drawdown

Overview

Bullwaves Prime is the prop trading arm of Bullwaves, a CFD broker licensed in the Seychelles. It runs 1-step and 2-step challenges on MT5 only, covering forex, stocks, commodities and crypto. It suits traders who are happy to trade steadily over at least two weeks per phase and want a broker behind the firm.

How the evaluation works

2 Step Challenge: 8% then 5%, with a 5% daily and 10% overall loss limit. A trailing drawdown also follows your highest equity. Sizes run from 5K to 200K, starting at $59.
1 Step Challenge: a single 10% target, a 4% daily and 8% overall limit. Sizes run from 5K to 400K, starting at $89.

The daily limit is measured from the highest equity of the day.

Rules worth knowing

Every phase needs at least 10 trading days, even if you hit the target sooner.
Funded accounts need 10 trading days and six profitable days of at least 0.5% before a payout.
You can't open or close trades within three minutes either side of a news release.
2-step accounts must be flat before the Friday close. The 1-step can hold over the weekend.
EAs and trade copiers are allowed in the challenge only.
30 days without trading ends the account.
Fees aren't refunded.

Getting paid

The standard split is 80%, with a higher-share add-on available. Your first payout comes 15 days after your first trade, then every 15 days. Each cycle is capped at 6% of the starting balance. Payouts take two to five business days by USDT or bank wire, with a $30 fee on wires. The payouts page also shows Rise.

At a glance

Platforms: MetaTrader 5
Payouts: Bank transfer, Crypto, Rise
Based in: Saint Vincent and the Grenadines

Good

Backed by the broker Bullwaves
1-step accounts up to $400K
No time limit on evaluations
Weekend holding allowed on the 1-step

Watch for

10 trading days minimum in every phase and before a payout
Trailing drawdown on the 2-step
EAs and copiers banned once funded
MT5 is the only platform

Challenges

Every account Bullwaves Prime sells. Sort by any column.

Program						Drawdown			Payouts
2 Step Challenge2-step	$5K	$59	8% / 5%	5%	10%	Trailing	80%	10 days	15 days
2 Step Challenge2-step	$50K	$299	8% / 5%	5%	10%	Trailing	80%	10 days	15 days
2 Step Challenge2-step	$100K	$549	8% / 5%	5%	10%	Trailing	80%	10 days	15 days
2 Step Challenge2-step	$200K	$999	8% / 5%	5%	10%	Trailing	80%	10 days	15 days
1 Step Challenge1-step	$5K	$89	10%	4%	8%	Static	80%	10 days	15 days
1 Step Challenge1-step	$50K	$449	10%	4%	8%	Static	80%	10 days	15 days
1 Step Challenge1-step	$100K	$649	10%	4%	8%	Static	80%	10 days	15 days
1 Step Challenge1-step	$400K	$2,199	10%	4%	8%	Static	80%	10 days	15 days

Trading rules

What the funded account lets you do. Restricted means allowed with conditions; check the firm's terms.

News tradingRestricted

Expert advisors / botsRestricted

Copy tradingRestricted

Weekend holdingRestricted

Overnight holdingNot checked yet

HedgingNot checked yet

Not available to residents of AF, BE, BY, CF, CN, CU, KP, LY, NI, PS, US, VE.

Payouts

How you get paid

Methods: Bank transfer, Crypto, Rise
Frequency: 15 days
First payout: after 15 days

Profit split by program

2 Step Challenge: up to 80%
1 Step Challenge: up to 80%

What traders say

Scores from the sites traders use, and our summary of what they're saying, checked 6 October 2026.

TrustpilotRead the threadschecked 6 October 2026 ↗MyfxbookRead the threadschecked 6 October 2026 ↗RedditRead the threadschecked 6 October 2026 ↗YouTubeRead the threadschecked 6 October 2026 ↗

Bullwaves Prime is hard to read from reviews alone. Its Trustpilot page has several hundred reviews, about 700 by one review site's count, but Trustpilot has flagged the profile for a breach of guidelines over fake reviews, and we found no current score from Trustpilot itself. The firm's own site quotes 4 out of 5 on Trustpilot and 4.7 on Myfxbook; those are the firm's figures, not ones we could check. The detailed negative reviews we found are mostly about payouts.

What traders like

Smooth first payouts. Myfxbook reviewers often say withdrawals went through without trouble, some more than once.
Clear rules and no time limit. Several reviewers describe the challenge as straightforward, and like the MT5 setup and the lack of a deadline.
Broker backing. Review sites point to the link with the Bullwaves brokerage as a reason to trust the firm.
Responsive support. Some Trustpilot reviewers say support handled their questions quickly.

Common complaints

Payout reviews that drag on. Several Trustpilot reviewers and a Reddit poster say payout requests sat in review for weeks, past the firm's stated 2 to 5 business days.
Payouts denied over rules. Some say payouts were refused or reduced over lot-size, consistency or automated-trading rules, and that they never saw the specific trades or rule behind the decision.
Rules that keep tightening. A few reviewers feel new rules appear between purchase and payout.
Doubts about the positive reviews. Besides the Trustpilot flag, a Reddit poster in May 2026 said most of what they could find about the firm looked like affiliate marketing.

Recently

August 2026: a broker review site noted the Trustpilot profile had been suspended over fake reviews.
September 2026: the firm's recent news is its own payout announcements. We found no new trader complaints dated in the last 90 days.