# Bullwaves Prime The prop arm of broker Bullwaves, with 1-step and 2-step challenges on MT5. Source page: https://trust.chartnaut.com/firms/bullwaves-prime Website: https://www.prime.bullwaves.com Founded: — Based in: Saint Vincent and the Grenadines Markets: Forex, Commodities, Crypto, Stocks Platforms: MetaTrader 5 Payout methods: Bank transfer, Crypto, Rise ## 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. ## 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 | Program | Steps | Account | Price | Profit targets | Daily loss | Max loss | Drawdown | Split | Min days | Payouts | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2 Step Challenge | 2-step | USD 5,000 | USD 59 | 8% / 5% | 5% | 10% | Trailing | 80% | 10 | 15 days | | 2 Step Challenge | 2-step | USD 50,000 | USD 299 | 8% / 5% | 5% | 10% | Trailing | 80% | 10 | 15 days | | 2 Step Challenge | 2-step | USD 100,000 | USD 549 | 8% / 5% | 5% | 10% | Trailing | 80% | 10 | 15 days | | 2 Step Challenge | 2-step | USD 200,000 | USD 999 | 8% / 5% | 5% | 10% | Trailing | 80% | 10 | 15 days | | 1 Step Challenge | 1-step | USD 5,000 | USD 89 | 10% | 4% | 8% | Static | 80% | 10 | 15 days | | 1 Step Challenge | 1-step | USD 50,000 | USD 449 | 10% | 4% | 8% | Static | 80% | 10 | 15 days | | 1 Step Challenge | 1-step | USD 100,000 | USD 649 | 10% | 4% | 8% | Static | 80% | 10 | 15 days | | 1 Step Challenge | 1-step | USD 400,000 | USD 2,199 | 10% | 4% | 8% | Static | 80% | 10 | 15 days | ## Trading rules - News trading: Restricted - Expert advisors / bots: Restricted - Copy trading: Restricted - Weekend holding: Restricted - Overnight holding: not checked - Hedging: not checked Not available in: AF, BE, BY, CF, CN, CU, KP, LY, NI, PS, US, VE ## What traders say Checked 2026-10-06. - Trustpilot: no score (https://www.trustpilot.com/review/prime.bullwaves.com) - Myfxbook: no score (https://www.myfxbook.com/reviews/prop-trading-firms/bullwavesprime/3270983,1) - Reddit: no score (https://www.reddit.com/r/Trading/comments/1p7k2vu/bullwaves_prime_prop_firm/) - YouTube: no score (https://www.youtube.com/watch?v=rWeXHjev97g) 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. ### Where this comes from - [Trustpilot](https://www.trustpilot.com/review/prime.bullwaves.com): the firm's review page, flagged for fake reviews. - [Myfxbook](https://www.myfxbook.com/reviews/prop-trading-firms/bullwavesprime/3270983,1): trader reviews, mostly positive. - [Reddit](https://www.reddit.com/r/Trading/comments/1p7k2vu/bullwaves_prime_prop_firm/): an r/Trading thread about a slow payout review. - [Reddit](https://www.reddit.com/r/PropfirmsForum/comments/1t4zzhu/bullwaves_reviews_anyone_actually_funded_with_them/): an r/PropfirmsForum thread asking for real payout reports. - [YouTube](https://www.youtube.com/watch?v=rWeXHjev97g): a review video from an affiliate review site. - [EntryLab](https://entrylab.io/prop-firms/bullwaves-prime): review site summary of the Trustpilot flag. --- Information gathered from public sources (company websites, regulator registers, third-party review sites). Ratings are quoted from those sources and are not the opinion of Chartnaut.com. Not financial advice. Trading carries a high risk of loss. Questions or corrections: help@chartnaut.com. Methodology: https://trust.chartnaut.com/methodology