Equitex Capital Limited
Primary
SC
8434948-1
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1 entity
3 accounts
unverified
unverified
unverified
unverified
Broker profile
BU
Bullwaves Review: Is It Legit and Regulated?
Equitex Capital Limited
SC
Operating period unverified
AKA BullWaves
FindMyFX score
medium risk6.0/10
0
Score out of 10
10
Independent assessment
Updated 2026-07-22
Contact & regulation
- Official website
- bullwaves.com
- Address
- Office No. A19C, Providence Complex, Providence, Mahé, Seychelles
- Contact
- [email protected]
- Primary license
- FSA Seychelles · Unverified
Missing values mean the information has not been verified or published yet—not that the broker does not provide it.
Quick verdict
Is Bullwaves legit and regulated?
FindMyFX has license records for Bullwaves, but none is currently presented as fully verified. Check each entity, jurisdiction, source, and verification date before depositing.
This is a source-limited research summary, not a safety guarantee or investment recommendation.
Broker-provided profile information is reviewed before publication. Paid profile features never affect FindMyFX scores, license verification, risk flags, reviews, complaints, or editorial decisions.
Broker-provided company information
Bullwaves is the trading name of Seychelles company Equitex Capital Limited. Its official site presents leveraged CFD trading through MetaTrader 5 across forex, indices, commodities, shares, metals and ETFs.
Professional broker overview
FindMyFX editorial summary
Bullwaves is a Seychelles-based CFD brand operated by Equitex Capital Limited and listed by the Seychelles FSA. The broker publishes three account tiers with a USD 100 starting deposit, advertised leverage up to 1:500 and MetaTrader 5 access. The reviewed pages state segregated accounts and negative balance protection, while independently verified execution-quality and user-review evidence remains limited.
Prepared from reviewed sources for informational purposes. This is not investment advice.
Editorial note: Account terms and protections are based mainly on the broker's own current website; FindMyFX staff should verify their jurisdictional application before publication.
- Operational status
- active
- Broker type
- unknown
- Execution model
- Not verified
- Support hours
- 24/7
Support languages: English
Documented advantages
- Official pages publish minimum deposits, leverage caps and starting spreads for three account tiers.
- MetaTrader 5 and multiple CFD asset classes are listed.
- The broker states segregated accounts and negative balance protection.
Documented limitations
- The maximum leverage is high and magnifies loss risk.
- The official restricted-jurisdiction list is extensive.
- Independent execution-quality and verified review evidence was not established in this research.
100%coverage
Published profile coverage
8 of 8 core information groups currently contain published data. This measures data availability, not broker quality or safety.
Company structure
Legal entities
Registered companies associated with this broker profile.
Trading access
Account types
Available account structures and their current verification state.
Classic
unverified- Deposit
- USD 100.00
- Leverage
- 1:500
Commission information not shown.
- Spread
- From 1.60 pips
- Base currencies
- Not shown
- Margin call / stop-out
- —% / 50.00%
- Demo / Islamic
- Unknown / Unknown
- Balance protection
- Available
- Last verified
- Not verified
ECN
unverified- Deposit
- USD 5000.00
- Leverage
- 1:500
Commission information not shown.
- Spread
- From 0.10 pips
- Base currencies
- Not shown
- Margin call / stop-out
- —% / 25.00%
- Demo / Islamic
- Unknown / Unknown
- Balance protection
- Available
- Last verified
- Not verified
VIP
unverified- Deposit
- USD 3000.00
- Leverage
- 1:500
Commission information not shown.
- Spread
- From 0.80 pips
- Base currencies
- Not shown
- Margin call / stop-out
- —% / 50.00%
- Demo / Islamic
- Unknown / Unknown
- Balance protection
- Available
- Last verified
- Not verified
Markets and instruments
Commodity CFDs
unverified
ETF CFDs
unverified
Forex CFDs
unverified
Index CFDs
unverified
metal CFDs
unverified
Share CFDs
unverified
Additional broker contacts
Physical address
Office No. A19C, Providence Complex, Providence, Mahé, Seychelles
Compliance
Support phone
+44 7488 822576
Research sources
Licenses and regulators
FSA Seychelles
SD185
Last verified: Not shown
Type: Securities dealer
Client class: Not shown
Compensation: Not shown
Segregated funds: Yes
Negative balance protection: Yes
Jurisdiction-specific offerings
SC · retail
unverifiedEntity not linked · Leverage 1:500
Compensation scheme not shown
Score components
Regulation and licenses
7.5/10 · 35%Current regulator listing and broker-published license number are available.
Security and track record
5.0/10 · 20%The broker states segregated accounts and negative balance protection, but independent track-record evidence is limited.
Trading conditions
7.5/10 · 15%Official account tiers, deposits, leverage and starting spreads are published.
Company transparency
7.5/10 · 10%Legal entity, registration, addresses and contacts are disclosed.
Service quality
5.0/10 · 10%24/7 support channels are published, but independent service evidence was not verified.
Verified user reviews
0.0/10 · 10%No inspectable verified-user-review dataset was used.
Profile update history
Broker profile was published.
2026-07-22
Related regulated broker profiles
These profiles share at least one recorded regulator. This is not a recommendation or equivalence claim.