Bullwaves FAQ - Expert Answers for Successful Trading

Deposits & Withdrawals

Does Bullwaves charge withdrawal fees?

Since there is a minimum withdrawal amount, Bullwaves does charge fees depending on the payment option and the withdrawal amount.

● For Bank wire withdrawals below or equal to 100 EUR, Bullwaves will charge a fixed fee of 10 EUR.
● For all other withdrawals (except for card refunds) below or equal to 20 EUR, Bullwaves will charge a fixed fee of 10 EUR.

Please note, you may also be charged by the funding provider involved in the transfer (intermediary bank, receiving bank, or your credit card provider) and that exchange rates my apply, depending on the currency of your account.

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How can I withdraw my profits?

Profits can be withdrawn using the Bank Wire option only once all other payment options have been refunded. It is our policy that any credit/debit card deposits should be withdrawn to the card in question first, before refunding to any other method, even if other methods were used for funding.

Please bear in mind that we will require a bank statement as proof that you are the bank account holder, before the withdrawal approval. For more details about how to withdraw using the Bank wire option, see: How can I withdraw funds using the Bank Wire option?

Please note that Bullwaves charges a fixed fee of 10 EUR or trading account currency equivalent from bank wire withdrawals below or equal to 100 EUR or trading account currency equivalent.

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Which method can I use to withdraw my funds? What is the withdrawal order?

It is our policy that any credit/debit card deposits should be withdrawn to the card in question first, before refunding to any other method, even if other methods were used for funding.

Kindly note that after withdrawing via credit card, any e-wallet deposits that were made should be refunded via this method too. Once all deposits from the above mentioned payment methods are fully refunded, you will then be able to withdraw to any other payment method of your choice (such as bank transfer), to an account under your name.

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How long does it take for you to process my withdrawal request?

During normal working hours, withdrawals are usually processed within a few hours (if not immediately), provided everything is in order and no additional information or documents are required from you.

If the withdrawal request is received outside working hours, it will be processed the next working day. Our Funding Team works Monday to Friday: 08:00-21:00 (GMT+2/GMT+3 during Daylight Saving Time).

*Please note that although credit/debit card deposits are processed immediately, this does not mean that funds have already been received in our bank account as the bank clearing procedure usually takes a few days. However, we credit your funds immediately in order to be able to trade instantly and protect open positions. Unlike deposits, the withdrawal procedure does take longer. For more information please see:‘’How long should I wait for a withdrawal to reflect on my bank account?’’

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How long should I wait for a withdrawal to reflect on my bank account?

Withdrawal requests are usually processed by our Funding Team within one working day. However, the time needed for the funds to be transferred to your account will vary, depending on your payment method.

The below time frames are purely indicative:

International Bank Wire withdrawals may take 3-5 working days.

SEPA and local bank transfers may take up to 2 working days.

Card withdrawals may take 2-7 working days; however, in some cases they can take as long as 10 working days*.

E-wallet withdrawals may take anything from 10 minutes to a few hours to reflect on your wallet.

All other withdrawal methods are usually received within 1 working day.

*It is important to note that there are payment processors that may take up to 15 working days for the card refund to reflect on your bank account (depending on your country of residence).

You will be notified via email once the processing of your withdrawal request has been completed by our Funding team. Alternatively, you can check the status of your withdrawal on your dashboard under the Fund section.

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What is the minimum withdrawal amount?

Except for bank wire withdrawals, Bullwaves does not require a minimum withdrawal amount. However, it should be noted that withdrawals that are below 2EUR cannot be processed as the requested withdrawal amount is lower than the fees Bullwaves incurs for processing such withdrawals.

That being said, please note that a 10 EUR fee will apply to any bank wire withdrawals below or equal to 100 EUR.
If you need further clarification, please contact our Support Team via opening a ticket in the Helpdesk section of your Client Dashboard.

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How can I cancel a withdrawal?

If during the withdrawal process, you wish to return your money back to your Bullwaves account, you have the option to cancel your withdrawal by contacting our customer support team. This is helpful, especially if making a withdrawal would cause you to have limited funds in your account and you still want to place certain trades or keep positions open.

Please inform our support team the soonest, as once the withdrawal is approved, it will not be possible to cancel the request.

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What is SWIFT and IBAN?

These terms relate to the Bank Wire payment option:

A SWIFT code – also known as a BIC – is made up of 8 characters and is used to identify a particular bank (e.g. HEBACY2N).

An IBAN stands for International Bank Account Number and helps banks identify your specific account for payments (e.g. of IBAN format: DE00 0000 0000 0000 0000 00) IBANs are not used in all countries. If you are requesting a withdrawal to a bank account which does not have an IBAN, you may put your account number in the IBAN field and your branch code in the Comments field on the withdrawal page.

Your SWIFT code and IBAN can usually be found on your bank statement or online banking portal.

Please note that we require IBAN and SWIFT code for all SEPA transfers; without these details we won’t be able to execute your withdrawal.

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How can I withdraw funds using the Bank Wire option?

It is a common practice that after the cancellation of a card, banks are obliged to allow limited transaction types to take place, including refunds, usually for at least 6 months. You should therefore withdraw funds to the card you used to deposit, even if this card has been cancelled. You will receive these funds to your new card which is connected to the same bank account as your previous, cancelled card.

If the bank account linked to the card is completely closed, you will need to send proof of account closure to our Support Team via opening a ticket in the Helpdesk section of your Client Dashboard. This document must clearly indicate the card number and state that the bank account link to it has been closed

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Do I need to provide any additional documents to withdraw funds from my account?

Before you can withdraw funds from your account, you need to ensure that your Bullwaves account has been fully verified. In addition, you may be requested to provide additional documentation to verify the source of funds (depending on your deposit option) to ensure the withdrawal is credited to the same source where the funds have been received from. You will be contacted by our Support Team in case additional documents or information are required. However, we do suggest that you provide us with proof of payment document in advance, to ensure the smooth processing of your withdrawal request.

How can I withdraw funds if the card that I have used for deposit has been cancelled / replaced or has expired?

Before you can withdraw funds from your account, you need to ensure that your Bullwaves account has been fully verified.

In order to withdraw your funds, you need to move the desired amount to be withdrawn from the trading account to the fiat account. Go to the ‘Funds’ Section in the dashboard and click on ‘Transfer’. Then select the wallets from/to and specify the amount.

You can then click on Withdraw and select the option you want to use in order to collect the funds.

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I have deposited using a virtual card (e.g. MBWAY, Multibanco or other). How can I withdraw?

You should withdraw back to the same card number that you have deposited from. In the majority of cases, virtual cards are refundable as they are linked with your actual credit/debit card. A virtual credit card number is a randomly-generated card number associated with your actual credit card. In case of a refund, the processing is identical, since transactions always have the underlying banking card associated with the Virtual Card (MB NET or other) and your account will be subsequently credited. You can always contact your card issuer and confirm this as well.

I have deposited using a virtual card (e.g. MBWAY, Multibanco or other). What additional documents are required from my side for deposit verification?

To verify the source of your deposits, please provide us with a screenshot of your virtual card and the (online) source account statement to which is the card connected to, showing the transaction/s made to Bullwaves and your name.You can also send using the Helpdesk section in the Client Dashboard.

Why was my credit/debit card deposit declined?

There are a number of reasons why your Credit/Debit card may have been declined:

● Your transaction may have been rejected by your card’s issuing bank, please check with your bank;
● You may have gone over your daily transaction limit or exceeded the card’s available credit/debit;
● You may have entered an incorrect digit for the card number, expiry date or CVV code, please verify that these are correct;
● Your transaction may have been refused due to insufficient funds in your card.

You may not have provided the 3D verification code and/or did not complete the 3D Security steps for the transaction to be completed.

Finally, please check with your card issuer to ensure that your card has been authorized for online transactions and that there are not any protections in place that are preventing us from charging it.

If your transaction is rejected by your card issuer, then you should contact them to find out the exact reason.

If you, however; believe that your payment method is valid and everything is in order, please try redepositing again. You may also try depositing using a different card or a different payment method.

In case you do not manage to successfully deposit, please contact our Support Team via opening a ticket in the Helpdesk section of your Client Dashboard.

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Where is my deposit? Why is my deposit held/ pending?

Your deposit may be withheld for one of the following possible reasons:
● You did not submit your verification documents;
● Your documents have expired and updated documents are required;
● Your total deposits exceed 2,000 EUR and your account was not yet fully verified;
● You have duplicate profiles within Bullwaves;
● You have failed to provide us with additional verification documents for your payment (such as card copies, source of payment screenshot, etc.)
● You have deposited using a relative’s or friend’s card / account and additional verification documents are required.

Our Support Team will contact you to resolve the issue and advise you on the next steps. In the meantime, we suggest looking at previous emails sent by us to you.

Should you require any further information, please contact our Support Team via by opening a ticket in the Helpdesk section of your Client Dashboard.

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Can I deposit using a friend’s / relative’s payment method?

In case you make a deposit using a card/bank account that is not in your name, we require additional documents to be provided before allowing you to use these funds in trading. In case you are already trading with these funds, you have up to 10 days from the date of the deposit to provide us with the necessary documentation, otherwise your account will be suspended from trading (irrespective of whether there are open positions or not).

The required documents in this case are:
● Your verification documents
● Third party’s Identification Document (such as Passport or ID Card)
● Authorisation letter, completed and signed by both (can be emailed to you by the Funding Team)
● Copies of the used card

Please be aware that it remains at Bullwaves’ discretion to accept or reject such deposits, if we are not satisfied with the provided documentation and/or any other reasons.

You can contact our Support team for further information or in order to provide these documents via opening a ticket in the Helpdesk section of your Client Dashboard.

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Can I deposit using a corporate credit card/account?

If the funds are deposited through a corporate/business card then:

If you are the director and sole shareholder: The deposit can be processed, after supporting documents have been provided. Supporting documents include: extract from Business Registry confirming the sole ownership and directorship and shareholder structure, your verification documents and copies of the used card. In case of a withdrawal, the funds must be sent back to the same card account as that which made the initial deposit.

If you are not the sole owner of the company or are just an authorized person acting on behalf of the company: The deposit can be only processed if you proceed with the conversion of your individual account to a corporate Bullwaves account and if you did not fund your account using any other payment option/account. Procedure for creation of a corporate/business account is outlined here: “Can I open a Corporate / Business account?”

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Why do I need to provide my card copies or bank statement?

Bullwaves is adhering to strict AML policies as any other regulated company. We are required to obtain card copies/bank statement of any card/account that was successfully used to deposit into a client’s account to ensure that the card/account is owned by the owner of the trading account, we are also not allowed to send out funds to the client without first having all necessary documents of the client.

Please note that sending your card copies/bank statement is absolutely secure and nobody can use it for any fraudulent activities, as we have all the necessary measures in place to keep your documents and information safe and anonymous.

The reason we require your card copies/bank statement is for the secure verification of your deposits. Kindly hide any personal information you may be concerned about and please allow only your name and the last four (4) digits of the card xxxxxxxxxxxx1234 that was used to fund your account to remain visible.*

*Please note that if you fail to cover the aforementioned sensitive information on your credit card copies, we will not be able to accept them. Any communication emails containing full copies of your credit card will also be deleted. This is done for security reasons, but you can always resubmit your credit card copies covering all the sensitive info.

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Are there any further requirements from my side in case I make a deposit using my bank account?

After completing the steps outlined under the FAQ: “How can I make a deposit into my account?” you will be given the payment details on how to proceed with an online payment or transfer from your bank account to Bullwaves bank account.

Once the transaction is complete, we suggest that you either upload or email the payment confirmation to us showing the following:
● The bank account number.
● Bank account holder’s name (this should match the name used during registration).
● Payment details.

Your transfer should be processed within 2-5 business days from the date the funds were sent from your account. If your deposit takes longer than 5 business days please contact our Support Team via by opening a ticket in the Helpdesk section of your Client Dashboard.
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Please note that Bullwaves is not responsible for any additional bank charges involved in the process.

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Are there any further requirements from my side in case I make a deposit using credit/debit card/s?

After completing the steps outlined in “How can I make a deposit into my account?” you will be redirected to your bank’s page where you will be asked to provide some additional information.

If this is your first deposit – or if you are depositing with a different Credit/Debit card than the one you have previously used – you will need to upload or email a clear coloured copy of the front and back of your credit card in order to avoid any possible delays in the crediting of your funds.

ONLY the following information should be visible on the scanned card/s:
● The card-holder’s name (This must match the name used during registration).
● Name of issuing bank
● The last 4 digits of the card number (all others must be covered).
● Credit/Debit card expiry date.
● Cardholder’s signature.

The CVC2/CVV2 (last 3 digits on the back of your card) must be covered.

An example can be found below:

If the cardholder name is not visible on the card, please provide us with a supporting card statement which confirms the card ownership. The document should state the last 4 digits of the card number and your name, so that it can be verified.

If the card is not in your name, please follow the steps outlined under “Can I deposit using a friend’s / relative’s payment method?

If the card is linked to a Corporate account, please refer to outlined process under ‘’Can I deposit using a corporate credit card/account?’’

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How can I deposit using Bank wire? How long do Bank Wire transfers take and what are the fees?

In order to deposit using the bank wire option, please log in to your Bullwaves profile, select ‘Funds’ and ‘Deposit’, select the Bank Wire method and choose the amount you wish to deposit. You will be displayed with our bank information. Please follow the steps as explained and upload the Proof of Payment in order to fasten the process and make sure that we are able to track your payment.

The processing times depend on the type of the transfer and banks involved in the transfer:

For international bank wire deposits, please allow 3-5 business days for funds to reflect in your Bullwaves account. Bullwaves does not charge for bank wire deposits but the sending and correspondent banks may impose charges according to their own fee structures.

SEPA transfers usually reflect within the same business day and the fees are very low.

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How long does it take for my deposit to be credited to my Bullwaves account?

The processing time varies depending on the payment option selected:

International Bank Transfer: 2-5 working days approximately, depending on your bank.

SEPA and local transfers: usually within the same day.

All other payment methods: 10 minutes approximately.

Once we receive your funds, they will automatically be credited to your Bullwaves trading account. If we need to request and verify additional information or documents then the processing time may be longer. In such cases, you will be contacted by our Customer support team.

Please note that Bullwaves is not liable for any delays caused by a 3rd party payment processor/s.

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What methods can I use to deposit funds into my Bullwaves account? Does Bullwaves charge deposit fees?

Bullwaves accepts Credit/Debit cards, Bank Wire transfers, and more methods available as per your country of residence.

In addition, be informed that Bullwaves does not charge fees for funding of your account.

Please note that you may be charged by the funding provider involved in the transfer (intermediary bank, receiving bank, or your credit card provider) and that fees might be charged upon currency exchange outside our control.

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How can I make a deposit into my account?

In order to deposit funds, you need to log in to your Bullwaves profile:

Click on Funds on the left side Menu, then Deposit.

Select the Wallet you wish to deposit.
Choose your preferred deposit type
Choose the preferred method, add the amount and the necessary information (depending on the method selected), then click on ‘Proceed’.
Confirm your deposit details on the next page. Some additional steps may be asked by your payment provider.

Bullwaves offers a wide range of deposit methods including credit cards, bank transfers, e-wallets and more.

Please note that before being able to Withdraw, you need to verify yourself and finalise the KYC process.

For additional information, please open a ticket within the client dashboard or send us an email to support@bullwaves.com

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General & Account Questions

Do you charge inactivity fees?

Yes, the Company has established, implemented and maintains an Inactive and Dormant Account Policy that is as follows:

When a client with any trading account(s) held with the Company under any of its brands has not:

Placed a trade;
Opened or closed positions; and
Made a deposit into the client’s trading account, for a period of at least 30 consecutive days, his account shall be classified by the Company as an Inactive Account.

Such Inactive Accounts will be subject to a monthly charge of 10 USD monthly.

You can reactivate your inactive/dormant account at any time. Please ensure that all of your verification documents (i.e. Proof of Identity and Proof of residence) are still valid, as renewed documents may be required. And also ensure to re-complete and update your profile information, including the Economic Profile/Questionnaire.

Inactivity/Dormant fees are non-refundable.

Should you require any further clarification or assistance, please do not hesitate to contact our Customer Support.

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How can I become a partner or an affiliate?

If you wish to become an Affiliate or IB Partner of Bullwaves, please email partners@bullwaves.com or and/or visit our partners page where you can find more information.

If you send an email, you should expect a further reply within 24-48 business hours.

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How can I change my password?

If you are using a pc/laptop, please log in to your account, and click on Profile > Account Settings > Change Password.

In case you have forgotten your password, please click on ‘Forgot Password?’ or send an email to support@bullwaves.com.

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Do I have to pay taxes on my profits? Can I get a tax confirmation letter from you?

Kindly note that we do not provide taxation information as each country has different taxation laws.

Bullwaves does not collect taxes for any government authority, and it is the clients’ responsibility to calculate and pay any applicable taxes relevant in the country they live in. To do so, we can provide you with your trading account statement/s.

If you wish to have a tax letter confirmation stating your total deposits, total withdrawals and total PnL, please contact our customer support team via email at support@bullwaves.com

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How can I unsubscribe from emails?

To customize your subscriptions, you can go to the bottom of the email you received and unsubscribe by selecting the ”Click here” option.

Please note, you will not be able to unsubscribe from the required communication regarding your trading activity. If you wish to unsubscribe from daily statements, please contact our support team via opening a ticket in the Helpdesk section of your Client Dashboard.

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How can I change details on my personal profile / account? (e.g. address / email address / phone number)

If you wish to change or update your residential address, follow the below steps:

You can send a request to our customer support team and provide your new residential address, including a copy of your proof of residence document attached. Once the new proof of residence document is received and accepted we will then update your profile.

You can find more details on acceptable proof of residence documents under the question: What is proof of address/residence?

If you wish to change your email address or phone number, please contact support either by opening a ticket on Helpdesk or by writing an email from the same email you used to open the account to support@bullwaves.com with your request specifying the old number/email and the new one you would like to use.

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How can I change the name I registered my account with?

You can amend the name only in case of misspelling by sending us an email to support@bullwaves.com explaining why you wish to change it and attaching a copy of your identity document or document proving a name change. We will then review and contact you regarding the status of your request.

Please note that you are requested to provide us with accurate and valid information from the beginning of the business relationship. In the case you register using a fake name or a nickname or a third party name, you need to inform us accordingly. Further information and/or documentation may be required.

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Do you accept US citizens/residents?

Unfortunately, Bullwaves does not accept US citizens/residents for tax purposes.

Please ensure that if any of below is applicable to you, you need to inform us accordingly:

I am a U.S. citizen (including dual citizen) or resident
My birthplace is in the U.S.
I have a current U.S. mailing or residence address (including a U.S. post office box or U.S. “in-care-of” address)
I have a current U.S. telephone number
I have standing instructions to transfer funds to an account maintained in the United States
I have currently effective power of attorney or signatory authority granted to a person with a U.S. address
I have an “in-care-of” or “hold mail” address that is the sole address for the Account Holder. The Investor needs to note that in the case of a Pre-existing Individual Account that is a Lower Value Account, an “in-care-of” address outside the United States is not to be treated as U.S. indicia.
I possess a U.S. TIN (hereafter “Tax Identification Number”).

If your answer to any of the above statements was ‘’Yes’’, we won’t be able to proceed with the approval of your account. If you have already registered for a Bullwaves account and you are considered a US citizen for tax purposes, please inform our Customer support or Sales team accordingly using opening a ticket in the Helpdesk section on your Client Dashboard. Alternatively, you can email support@bullwaves.com

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What is the meaning of Politically Exposed Person (PEP)?

Anti-Money Laundering legislation defines PEP as a natural person who is or who has been entrusted, during the preceding 3 years, with prominent public functions and includes the following:

(a) heads of State, heads of government, ministers and deputy or assistant ministers;
(b) members of parliament or of similar legislative bodies;
(c) members of the governing bodies of political parties;
(d) members of supreme courts, of constitutional courts or of other high-level judicial bodies, the decisions of
which are not subject to further appeal, except in exceptional circumstances;
(e) members of courts of auditors or of the boards of central banks;
(f) ambassadors, chargés d’affaires and high-ranking officers in the armed forces;
(g) members of the administrative, management or supervisory bodies of State-owned enterprises;
(h) directors, deputy directors and members of the board or equivalent function of an international organization.
No public function referred to in points (a) to (h) shall be understood as covering middle-ranking or more junior
Officials;
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‘family members’ includes the following:
(a) the spouse, or a person considered to be equivalent to a spouse, of a politically exposed person;
(b) the children and their spouses, or persons considered to be equivalent to a spouse, of a politically exposed
person;
(c) the parents of a politically exposed person;

‘persons known to be close associates’ means:
(a) natural persons who are known to have joint beneficial ownership of legal entities or legal arrangements, or
any other close business relations, with a politically exposed person;
(b) natural persons who have sole beneficial ownership of a legal entity or legal arrangement which is known to
have been set up for the de facto benefit of a politically exposed person.

Definition of Immediate Family Member & Close Associates of a PEP: The legislation extends the requirement to apply Enhanced customer due diligence to an immediate family member, or a close associate, of a PEP.

In the case the above is applicable to you, please inform our Sales or Customer support team writing us on Ticket or opening a ticket using the Helpdesk section on your Client Dashoard.

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How can I delete my account?

To delete your account, you have to access our IOS mobile app Bullwaves, go into settings and select “Delete Account”. To have all your data deleted from your pc version, please contact support either by opening a ticket on Helpdesk or by writing an email from the same email you used to open the account to support@bullwaves.com with your request to delete the account.

What documents are required to open a Corporate account?

You can open a trading account on your company name via our usual registration process. Please enter the personal details of the person who will be the authorized representative and send an email to backoffice@bullwaves.com with the official company documentation (depending on the availability as per the country of the incorporation), such as:

Certificate of Incorporation
Certificate of Good Standing or a recent excerpt from the company registry if the company is older than one year
Certificate of Registered Office (if available)
Certificate of Directors and Secretary
Certificate of Registered Shareholders
Memorandum & Articles of Association of the Company (if available)
A Lei code – A client who is a legal entity or structure needs to obtain a LEI code. For information please see: https://www.gleif.org/en or https://www.leiroc.org/
A resolution by the Board of Directors of the Company for the opening of a trading account with Bullwaves and to whom they grant authority to operate the trading account (internal template to be provided)
Declaration of UBO (sample can be provided as per request)
Full KYC documentation for all Directors and Shareholders of 25% or more held in the Company. Specifically:
Proof of Identification: a certified true copy of the person(s) passport (with photograph and signature specimen included) who will operate the trading account. The document is required to be valid and clearly readable.
Proof of Residence: a recent copy of a water bill or gas bill or electricity bill or a bank statement issued in that person(s) name, evidencing his/her permanent address and not older than three (3) months.

Please note that the above list is indicative and that the number and nature of the documents required depends on the country of incorporation.

Once we receive all necessary documents, our Back Office Team will review them and assist you with the completion of the registration.

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Can I open more than one account with Bullwaves? which currency can I use for trading

Yes, Bullwaves allows up to 6 different trading accounts (2 Standard, 2 VIP, 2 ECN).

You may open additional trading accounts via your dashboard by clicking on Account Settings -> Tradding Accounts -> ‘Add new account’

You can then select if you wish to add a MT5 live trading account by clicking on ‘Create Account’.

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In order to get a different trading account, please send us an email to support@Bullwaves.com

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Why do I need to submit personal documents?

These steps are taken to ensure the validity of the information and to protect you from potential fraud.

Bullwaves, as a legit financial institution, is required to confirm the identity of its clients. If your identity can not be clearly verified, you may be asked to provide further information.

Additionally, Bullwaves is required to comply with statutory security standards. These include but are not limited to, the anti-money laundering legislation and the prevention of terrorist financing. If you need help with your identity verification process, please contact our support team.

You can contact support in your preferred language, when covered, via opening a ticket in the Helpdesk section of your Client Dashboard.

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What is an Appropriateness questionnaire and an Economic profile?

As a regulated company, we are obliged by law to collect certain information about our clients during the verification process. Besides your verification documents, we also require the following questionnaires to be completed:

The Appropriateness Assessment Test is part of this process which helps us ensure that the customer has an understanding of the risks involved and has the relevant experience required in the financial markets. The Assessment ensures that you are given access to the leveraged products and services you are most suited for.

The Assessment of client’s economic situation (Economic Profile) is the second part of this process which allows us to ensure that the customer’s financial situation is in line with his funding patterns and also adds an extra level of verification for AML purposes.

For further details, please contact our Customer Support via live chat or open a ticket in the Helpdesk section of your Client Dashboard. Alternatively, you can send an email to support@bullwaves.com

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What is proof of address / residence?

In order to verify your account, we will require a recent proof of address document, such as a utility bill or bank statement.

This document must be issued in the name of the account holder within the last 3 months and must contain the following information:

● Your name
● Your current residential address
● Date of issue
● The details of the issuer

We accept any bills that are issued by a financial institution, a utility company, a government agency or a judicial authority. If your bill or document is available online, you may send it to us either as a PDF file, or as a screenshot.

Proof of address/residence can be one of the following:
● Electricity, water, gas, internet or telephone bill
● Bank statement / credit card statement / bank reference letter
● Tax letter / Council tax bill (for the current year)
● Social insurance statement
● Electronic statements with the URL visible
● Government-issued Certificate of Residence or notarized Affidavit of Residence

If you do not have Residence documents in your name, please note that you could also send a Certificate of Residence of your Municipality or a Letter of Confirmation duly signed by a local authority enclosing your name/ surname, your current address and with a recent date.

If you do not have any of the above, please provide us with an official document that states your name and residential address via the internal ticketing system available in the client dashboard or send an email to support@bullwaves.com.

What will not be accepted?
● Invoices for purchasing goods
● Receipts
● Insurance bills
● Handwritten bills
● Road tax
● Documents with low resolution or low quality
● Documents enclosed in envelopes
● Half or torn documents

View examples of valid documents:

A. Utility bill:

B. Bank statement:

Please keep in mind that on the occasion when your verification document is “outdated” (older than 12 months), we will contact you to provide us with a copy of the updated document.

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What is proof of identity?

In order to verify your account, we will require a copy of your valid passport or both sides of your government-issued identification card.

This copy must contain:

Identification Number
Full Name
Date of Birth
Photograph
Valid Expiry Date
Issuing authority
What will not be accepted:
Covered details – you must not cover any of the above details
Unclear documents
Cropped images – all edges of the document should be visible
Documents such as Army card, Medical card, Age card, Student card
All scans should be in high resolution and the above details must be clearly readable.
Please make sure that your documents are:
Clear, with no blurs, light reflection or shadows
All edges of the document must be visible
Both sides of the document must be uploaded
View examples of valid documents:
A. Passport:

B. Identification card:

Please keep in mind that on the occasion when your identity verification document has expired, you are obligated to provide us with a copy of the updated document.

Which documents/ Information are required to register/verify an account?

After you have opened an account with Bullwaves, you are asked to verify your e-mail address, inserting the code that we send you (please check your spam inbox in case you do not receive the e-mail in a few minutes).

Upon registration, we need you to complete your personal details (date of birth, residential address details, etc.) as soon as possible. This should help you speed up the verification process.

You will then need to complete an Appropriateness Test to ensure that you understand all the risks involved in trading derivative products and submit basic information on your Economic profile.

In order to have your account fully verified you will be required to send the below documentation:

Proof of identity
Proof of address*

You can upload the documents through the Bullwaves dashboard and upload them on our system. It is a very simple and straightforward process. We partner up with a third-party provider for automatic verifications of your documents, in order to have a quick and smooth onboarding experience.

To avoid any account limitations including, but not limited to, trading, withdrawal of funds and account closure, all clients should be verified as soon as possible.

At any point, Bullwaves may request additional identification documents in accordance with regulations or circumstances.

Please note that if you wish to open a real money account with Bullwaves you must be at least 18 years old.

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How can I verify my account?

You can register on Bullwaves by simply clicking “Sign up” and completing the registration process.

How and when can I contact you?

You can contact our Customer Support Team for any questions related to your registration, an unexplained error or technical issue, downloading your platform or client’s dashboard. You can reach out to us by sending an email to support@bullwaves.com

Deposits & Withdrawals

General & Account Questions

Does Bullwaves charge withdrawal fees?

Since there is a minimum withdrawal amount, Bullwaves does charge fees depending on the payment option and the withdrawal amount.

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How can I withdraw my profits?

Please note that Bullwaves charges a fixed fee of 10 EUR or trading account currency equivalent from bank wire withdrawals below or equal to 100 EUR or trading account currency equivalent.

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Which method can I use to withdraw my funds? What is the withdrawal order?

It is our policy that any credit/debit card deposits should be withdrawn to the card in question first, before refunding to any other method, even if other methods were used for funding.

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How long does it take for you to process my withdrawal request?

If the withdrawal request is received outside working hours, it will be processed the next working day. Our Funding Team works Monday to Friday: 08:00-21:00 (GMT+2/GMT+3 during Daylight Saving Time).

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How long should I wait for a withdrawal to reflect on my bank account?

The below time frames are purely indicative:

International Bank Wire withdrawals may take 3-5 working days.

SEPA and local bank transfers may take up to 2 working days.

Card withdrawals may take 2-7 working days; however, in some cases they can take as long as 10 working days*.

E-wallet withdrawals may take anything from 10 minutes to a few hours to reflect on your wallet.

All other withdrawal methods are usually received within 1 working day.

*It is important to note that there are payment processors that may take up to 15 working days for the card refund to reflect on your bank account (depending on your country of residence).

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What is the minimum withdrawal amount?

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How can I cancel a withdrawal?

Please inform our support team the soonest, as once the withdrawal is approved, it will not be possible to cancel the request.

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What is SWIFT and IBAN?

These terms relate to the Bank Wire payment option:

A SWIFT code – also known as a BIC – is made up of 8 characters and is used to identify a particular bank (e.g. HEBACY2N).

Your SWIFT code and IBAN can usually be found on your bank statement or online banking portal.

Please note that we require IBAN and SWIFT code for all SEPA transfers; without these details we won’t be able to execute your withdrawal.

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How can I withdraw funds using the Bank Wire option?

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Do I need to provide any additional documents to withdraw funds from my account?

How can I withdraw funds if the card that I have used for deposit has been cancelled / replaced or has expired?

Before you can withdraw funds from your account, you need to ensure that your Bullwaves account has been fully verified.

You can then click on Withdraw and select the option you want to use in order to collect the funds.

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I have deposited using a virtual card (e.g. MBWAY, Multibanco or other). How can I withdraw?

I have deposited using a virtual card (e.g. MBWAY, Multibanco or other). What additional documents are required from my side for deposit verification?

Why was my credit/debit card deposit declined?

There are a number of reasons why your Credit/Debit card may have been declined:

You may not have provided the 3D verification code and/or did not complete the 3D Security steps for the transaction to be completed.

If your transaction is rejected by your card issuer, then you should contact them to find out the exact reason.

If you, however; believe that your payment method is valid and everything is in order, please try redepositing again. You may also try depositing using a different card or a different payment method.

In case you do not manage to successfully deposit, please contact our Support Team via opening a ticket in the Helpdesk section of your Client Dashboard.

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Where is my deposit? Why is my deposit held/ pending?

Our Support Team will contact you to resolve the issue and advise you on the next steps. In the meantime, we suggest looking at previous emails sent by us to you.

Should you require any further information, please contact our Support Team via by opening a ticket in the Helpdesk section of your Client Dashboard.

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Can I deposit using a friend’s / relative’s payment method?

Please be aware that it remains at Bullwaves’ discretion to accept or reject such deposits, if we are not satisfied with the provided documentation and/or any other reasons.

You can contact our Support team for further information or in order to provide these documents via opening a ticket in the Helpdesk section of your Client Dashboard.

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Can I deposit using a corporate credit card/account?

If the funds are deposited through a corporate/business card then:

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Why do I need to provide my card copies or bank statement?

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Are there any further requirements from my side in case I make a deposit using my bank account?

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Are there any further requirements from my side in case I make a deposit using credit/debit card/s?

After completing the steps outlined in “How can I make a deposit into my account?” you will be redirected to your bank’s page where you will be asked to provide some additional information.

The CVC2/CVV2 (last 3 digits on the back of your card) must be covered.

An example can be found below:

If the card is not in your name, please follow the steps outlined under “Can I deposit using a friend’s / relative’s payment method?

If the card is linked to a Corporate account, please refer to outlined process under ‘’Can I deposit using a corporate credit card/account?’’

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How can I deposit using Bank wire? How long do Bank Wire transfers take and what are the fees?

The processing times depend on the type of the transfer and banks involved in the transfer:

SEPA transfers usually reflect within the same business day and the fees are very low.

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How long does it take for my deposit to be credited to my Bullwaves account?

The processing time varies depending on the payment option selected:

International Bank Transfer: 2-5 working days approximately, depending on your bank.

SEPA and local transfers: usually within the same day.

All other payment methods: 10 minutes approximately.

Please note that Bullwaves is not liable for any delays caused by a 3rd party payment processor/s.

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What methods can I use to deposit funds into my Bullwaves account? Does Bullwaves charge deposit fees?

Bullwaves accepts Credit/Debit cards, Bank Wire transfers, and more methods available as per your country of residence.

In addition, be informed that Bullwaves does not charge fees for funding of your account.

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How can I make a deposit into my account?

In order to deposit funds, you need to log in to your Bullwaves profile:

Click on Funds on the left side Menu, then Deposit.

Select the Wallet you wish to deposit.
Choose your preferred deposit type
Choose the preferred method, add the amount and the necessary information (depending on the method selected), then click on ‘Proceed’.
Confirm your deposit details on the next page. Some additional steps may be asked by your payment provider.

Bullwaves offers a wide range of deposit methods including credit cards, bank transfers, e-wallets and more.

Please note that before being able to Withdraw, you need to verify yourself and finalise the KYC process.

For additional information, please open a ticket within the client dashboard or send us an email to support@bullwaves.com

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Do you charge inactivity fees?

Yes, the Company has established, implemented and maintains an Inactive and Dormant Account Policy that is as follows:

When a client with any trading account(s) held with the Company under any of its brands has not:

Placed a trade;
Opened or closed positions; and
Made a deposit into the client’s trading account, for a period of at least 30 consecutive days, his account shall be classified by the Company as an Inactive Account.

Such Inactive Accounts will be subject to a monthly charge of 10 USD monthly.

Inactivity/Dormant fees are non-refundable.

Should you require any further clarification or assistance, please do not hesitate to contact our Customer Support.

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How can I become a partner or an affiliate?

If you wish to become an Affiliate or IB Partner of Bullwaves, please email partners@bullwaves.com or and/or visit our partners page where you can find more information.

If you send an email, you should expect a further reply within 24-48 business hours.

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How can I change my password?

If you are using a pc/laptop, please log in to your account, and click on Profile > Account Settings > Change Password.

In case you have forgotten your password, please click on ‘Forgot Password?’ or send an email to support@bullwaves.com.

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Do I have to pay taxes on my profits? Can I get a tax confirmation letter from you?

Kindly note that we do not provide taxation information as each country has different taxation laws.

If you wish to have a tax letter confirmation stating your total deposits, total withdrawals and total PnL, please contact our customer support team via email at support@bullwaves.com

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How can I unsubscribe from emails?

To customize your subscriptions, you can go to the bottom of the email you received and unsubscribe by selecting the ”Click here” option.

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How can I change details on my personal profile / account? (e.g. address / email address / phone number)

If you wish to change or update your residential address, follow the below steps:

You can find more details on acceptable proof of residence documents under the question: What is proof of address/residence?

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How can I change the name I registered my account with?

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Do you accept US citizens/residents?

Unfortunately, Bullwaves does not accept US citizens/residents for tax purposes.

Please ensure that if any of below is applicable to you, you need to inform us accordingly:

I am a U.S. citizen (including dual citizen) or resident
My birthplace is in the U.S.
I have a current U.S. mailing or residence address (including a U.S. post office box or U.S. “in-care-of” address)
I have a current U.S. telephone number
I have standing instructions to transfer funds to an account maintained in the United States
I have currently effective power of attorney or signatory authority granted to a person with a U.S. address
I have an “in-care-of” or “hold mail” address that is the sole address for the Account Holder. The Investor needs to note that in the case of a Pre-existing Individual Account that is a Lower Value Account, an “in-care-of” address outside the United States is not to be treated as U.S. indicia.
I possess a U.S. TIN (hereafter “Tax Identification Number”).

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What is the meaning of Politically Exposed Person (PEP)?

Anti-Money Laundering legislation defines PEP as a natural person who is or who has been entrusted, during the preceding 3 years, with prominent public functions and includes the following:

In the case the above is applicable to you, please inform our Sales or Customer support team writing us on Ticket or opening a ticket using the Helpdesk section on your Client Dashoard.

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How can I delete my account?

What documents are required to open a Corporate account?

Certificate of Incorporation
Certificate of Good Standing or a recent excerpt from the company registry if the company is older than one year
Certificate of Registered Office (if available)
Certificate of Directors and Secretary
Certificate of Registered Shareholders
Memorandum & Articles of Association of the Company (if available)
A Lei code – A client who is a legal entity or structure needs to obtain a LEI code. For information please see: https://www.gleif.org/en or https://www.leiroc.org/
A resolution by the Board of Directors of the Company for the opening of a trading account with Bullwaves and to whom they grant authority to operate the trading account (internal template to be provided)
Declaration of UBO (sample can be provided as per request)
Full KYC documentation for all Directors and Shareholders of 25% or more held in the Company. Specifically:
Proof of Identification: a certified true copy of the person(s) passport (with photograph and signature specimen included) who will operate the trading account. The document is required to be valid and clearly readable.
Proof of Residence: a recent copy of a water bill or gas bill or electricity bill or a bank statement issued in that person(s) name, evidencing his/her permanent address and not older than three (3) months.

Please note that the above list is indicative and that the number and nature of the documents required depends on the country of incorporation.

Once we receive all necessary documents, our Back Office Team will review them and assist you with the completion of the registration.

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Can I open more than one account with Bullwaves? which currency can I use for trading

Yes, Bullwaves allows up to 6 different trading accounts (2 Standard, 2 VIP, 2 ECN).

You may open additional trading accounts via your dashboard by clicking on Account Settings -> Tradding Accounts -> ‘Add new account’

You can then select if you wish to add a MT5 live trading account by clicking on ‘Create Account’.

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In order to get a different trading account, please send us an email to support@Bullwaves.com

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Why do I need to submit personal documents?

These steps are taken to ensure the validity of the information and to protect you from potential fraud.

Bullwaves, as a legit financial institution, is required to confirm the identity of its clients. If your identity can not be clearly verified, you may be asked to provide further information.

You can contact support in your preferred language, when covered, via opening a ticket in the Helpdesk section of your Client Dashboard.

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What is an Appropriateness questionnaire and an Economic profile?

For further details, please contact our Customer Support via live chat or open a ticket in the Helpdesk section of your Client Dashboard. Alternatively, you can send an email to support@bullwaves.com

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What is proof of address / residence?

In order to verify your account, we will require a recent proof of address document, such as a utility bill or bank statement.

This document must be issued in the name of the account holder within the last 3 months and must contain the following information:

● Your name
● Your current residential address
● Date of issue
● The details of the issuer

View examples of valid documents:

A. Utility bill:

B. Bank statement:

Please keep in mind that on the occasion when your verification document is “outdated” (older than 12 months), we will contact you to provide us with a copy of the updated document.

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What is proof of identity?

In order to verify your account, we will require a copy of your valid passport or both sides of your government-issued identification card.

This copy must contain:

Identification Number
Full Name
Date of Birth
Photograph
Valid Expiry Date
Issuing authority
What will not be accepted:
Covered details – you must not cover any of the above details
Unclear documents
Cropped images – all edges of the document should be visible
Documents such as Army card, Medical card, Age card, Student card
All scans should be in high resolution and the above details must be clearly readable.
Please make sure that your documents are:
Clear, with no blurs, light reflection or shadows
All edges of the document must be visible
Both sides of the document must be uploaded
View examples of valid documents:
A. Passport:

B. Identification card:

Please keep in mind that on the occasion when your identity verification document has expired, you are obligated to provide us with a copy of the updated document.

Which documents/ Information are required to register/verify an account?

Upon registration, we need you to complete your personal details (date of birth, residential address details, etc.) as soon as possible. This should help you speed up the verification process.

In order to have your account fully verified you will be required to send the below documentation:

Proof of identity
Proof of address*

To avoid any account limitations including, but not limited to, trading, withdrawal of funds and account closure, all clients should be verified as soon as possible.

At any point, Bullwaves may request additional identification documents in accordance with regulations or circumstances.

Please note that if you wish to open a real money account with Bullwaves you must be at least 18 years old.

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How can I verify my account?

You can register on Bullwaves by simply clicking “Sign up” and completing the registration process.

How and when can I contact you?

Frequently Asked Questions

Deposits & Withdrawals

General & Account Questions

Video Tutorials

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