Bullwaves

( 1.92 )
12 reviews
Suspicious
This company shows several warning signs of potential fraud.
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Key Highlights Critical Insights
Pros|Cons Details FAQ Reviews Broker Profile
Pros
Existing since 2022.
Many trading methods.
Cons
Weak offshore licenses.
High leverage.
Rebranded from Moonance.
No online chat or social media.
Bonus terms are poorly disclosed.

Company Background

This review focuses on Bullwaves (ex Moonance), an intriguing broker that claims to have 10,000 clients worldwide but without any substantial evidence. It offers traders CFDs on financial assets, as well as additional services like signals, education, and news. The company boldly claims full regulation, but only lists one regulatory body, MISA, on its website, which still requires further verification. Legally, the platform is based in Saint Vincent and the Grenadines, which is not the most trustworthy jurisdiction regarding trust and safety.

Overview of Services and Trading Terms

Bullwaves offers clients margin trading on CFDs using the well-known MetaTrader terminal, compatible with all types of devices. The firm also promises to provide the best trading tools for making the most informed decisions.

In addition, according to its official website, the company has developed extensive opportunities for additional earnings: copy trading, social trading, and even prop trading.

The minimum deposit required to start trading is quite high – $250, with default spreads starting from 2 pips, and leverage of 1:200. If a trader wants more favorable conditions from Bullwaves, they must invest significantly more, starting from $10,000. These are the requirements for the initial deposit on the second and third tariff plans, where spreads range from 1.1-1.5 pips, and leverage up to 1:500.

It’s worth noting the $0 commission, indicating a dealing desk business model with a conflict of interest, or Bullwaves significantly inflating spreads to profit, making trading less beneficial. Additional features include the following:

  • Demo account.
  • News and education.
  • Signals.
  • Economic calendar.

Referral and Bonus Schemes

Bullwaves offers a bonus through its affiliate program, rewarding traders who invite new clients. The reward is up to $1,500; however, these bonuses are subject to specific conditions, which should be reviewed in the relevant document provided on the website.

There is also a deposit bonus that is awarded when the deposit amount is over $100. To receive it, you must fulfill certain conditions, and the maximum reward does not exceed $5,000.

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FAQ

Is there any income guarantee when trading with bullwaves.global?

The potential income is unlimited, depending on the client's deposit and risk management. To increase potential profits, the broker provides leverage and bonuses through the affiliate program, but it's important to remember the corresponding risks, which also increase significantly. There are no guarantees; in fact, statistics show that over 74% of traders lose their money in marginal CFD trading.

What sum is necessary to begin dealing with Bullwaves?

As per the account types described, a minimum deposit of $250 is required to start trading, however, another section of the site states that $100 is enough. For more expensive tariffs with better conditions, deposits of $10,000 and $50,000 are required, respectively. These are the broker's requirements.

What deposit and withdrawal methods are available?

Deposits and withdrawals can be made using cryptocurrencies (USDT, Bitcoin, Tron, and Ethereum), wire transfers, and Visa/Mastercard bank cards. However, it's not certain that credit/debit cards are actually accepted for payment, as the company can easily refuse such transactions and demand cryptocurrency instead. It is a risky method because, firstly, it allows the founders of the broker to remain anonymous, and secondly, it's impossible to recover sent funds.

Is bullwaves.global a legitimate website?

The firm states its legal address is in Saint Vincent and the Grenadines. Interestingly and importantly, it is not just a significant drawback because Forex broker activities are unregulated in this country, but there’s another aspect. The organization was registered in SVGFSA in 2022 and still exists, but its name is Moonance LLC. Also, an MISA license is mentioned, which is from the Comoros Islands, thus casting doubt on the seriousness of such a regulation.

Is it like roulette with no guarantee of earning money?

Bullwaves was established in April 2022, but during all this time, the owners have not found any better ways to audit their activities other than the weakest possible regulators in the Grenadines and one of the Comoros Islands. By the way, the broker claims to also be FSA Seychelles licensed, and we checked: Equitex Capital Limited is indeed on the FSA register. However, the Terms and Conditions on the company’s official website still refer to a legal entity in the Grenadines. So the rights and interests of the trader are in a vulnerable position here.
Emily White - Author on Scamroulette.com
Emily White

These guys are truly mysterious! First of all, the rebranding from Moonance to Bullwaves does not work in their favor, because this is usually done to clear a negative reputation. By the way, the reason for the rebranding is not explained on the website in any way. Secondly, there is a website bullwaves.com, which, like the one I reviewed, also warns that it is not controlled in the EU. Its regulations refer to the Seychelles legal entity Equitex Capital Limited, but what is the point if this is also an offshore zone?

Overall Score

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1.92/5
OVERALL

Based on 12 votes

12 reviews about Bullwaves

  • Sam_Quick
    1 review
    20.04.2025 00:01
    No license and offshore registration

    A good broker will not register in Saint Vincent and the Grenadines, because this is a favorite place for fraudsters. And this scam broker bullwaves doesn’t even have other office addresses! The top tier license is also missing, although this is a mandatory attribute for any brokerage company, but not for these swindlers

  • KITAZ
    1 review
    24.03.2025 16:18
    I can't recommend it!

    I just had to look at what the personal account looks like in Bullwaves – a pathetic imitation of a brokerage platform. No actions and options, and looking at the types of accounts, you wonder – why did they even make a separation of tariffs. In short, some kind of dirty and suspicious scambroker. I cannot recommend it

  • ZHiSu
    1 review
    13.02.2025 13:42
    Believed and gave the scammers $1,000

    Don’t believe them, they deceived me and scammed me out of money… I’ve been trying to get back $1,000 for more than a month… nothing works… the scammers have stopped communicating with me… my money is stuck in fraud trash…

  • Tommy
    1 review
    17.01.2025 08:06
    I recommend!

    Bullwaves is a great broker! Yes, their entry conditions are not very good, 250 bucks and high spreads, but I don’t care because I use copy trading. There is a very developed platform for generating income from those who are really good at trading and it’s stupid not to use it. You can just look at other people’s strategies, you can join and get a percentage.

  • ZeroHedge
    1 review
    23.12.2024 03:18
    Where's my money??? SCAMMERS

    SCAMMERS FROM BULLWAVES – when will you return my money? I’ve been waiting for months for my withdrawal request to be processed! Nothing happens. Where is my money?

  • Baby1990
    1 review
    01.12.2024 02:53
    Just a regular scam

    Bullwaves is nothing but a fraud. Don’t even try trading here; it makes no sense. You can be the most successful and profitable trader three times over, but you will never be able to withdraw money from here. The firm couldn’t even last a couple of years; now it is closing, or has already closed. It is evident from its location in SVGFSA. By the way, the broker is unlicensed in EU, and it benefits from traders losing money. So it’s doubly unprofitable to trade here.
    If you see positive reviews, they are fake. In case you didn’t know. You can’t trust them, and it’s obvious why. Scammers pay money to write positively about them. The conclusion is simple – withdrawal doesn’t work, there are no guarantees, so don’t invest your money here.

  • John William
    1 review
    08.10.2024 13:02
    They have a fake regulator

    Did you know that the MISA regulator is fake? At least when it comes to the financial commission of the Comoros Islands. Even the Central Bank of the Comoros has declared the fictitious existence of MISA, so it should not be taken into account. More precisely, it should, but in a negative sense. Moonance listed MISA in their footer, which can be considered a serious red flag.
    The offshore registration and the absence of any other licenses speak of the company’s low reliability. The trading conditions are also less than ideal. I see no positive aspects regarding the company’s reliability and consider it an illegal broker, although I could be mistaken.

  • fisher
    1 review
    24.08.2024 08:35
    unexpected news

    one day I went to the broker’s website where I tried to trade but it didn’t work out, and I saw that my account had been transferred to bullwaves. at first I thought it was cool, maybe they were absorbed by some big brand, but then I saw that it was the same lousy website with unfavorable conditions, only under a different name. so I’ll still try to withdraw my balance from there

  • ForexTrader
    1 review
    09.03.2024 15:19
    Had an unfortunate experience, lost $300

    I regret trying the service of the company Moonance. The spreads are very large, I have never seen spreads of 2 pips, but often from 5-6 pips. The platform lags a lot, even though it’s cTrader. Also, I feel like the broker is working against the clients. Several times I saw how my stop-loss was hit by a random increase in liquidity, although I did not observe this in other sources of quotes.
    Then a more experienced trader told me that this broker operates on a dealing desk business model, which means that when I earn, I am essentially robbing the firm, and vice versa, when I lose, the organization makes a profit. After that, everything became clear and obvious to me. It was too late to withdraw the money, as I had lost it. However, something tells me that I would not have been able to get the money back from the fraudulent trap anyway.

  • Harry Nickman
    1 review
    27.01.2024 16:11
    Scam, your money's at stake here.

    What to do if you deposited money into an illegal brokerage company? Nothing, you just have to accept this valuable lesson and move on. You have definitely lost money, most likely several thousand dollars, so no one will look for anonymous fraudsters who scammed you. Moonance engages in scam activities, so it’s not worth investing money here, you will definitely lose it. Find a broker with a bunch of licenses, a 20-year track record, and then it will be a good option for trading. But firms like moonance.com are fraud, so you can’t work with them. Several people have already invested money here, now they can’t withdraw it. Do you want the same? I doubt it. Here, there is no regulation, no offices, and the firm is liquidated. How can such a pseudo-company be trusted with money?

  • StandFor
    1 review
    28.11.2023 16:36
    Need some advice.

    Hello. I’m looking for a brokerage partner for trading Forex/CFD with leverage. One of them is moonance.com. My question is: “Can the firm be trusted with a deposit?” Looking at the official website, there seem to be good and favorable trading conditions. For example, an advanced cTrader terminal, a partner program, and even signals. There are many positive reviews online, but they are very suspicious, as if they are inflated and commissioned.
    Has anyone here traded already? How does the withdrawal work? What are the real trading conditions here? The commission is zero, which means the spread must be very high. Please tell me, is Moonance a reliable broker or should I pass by? I really want to start earning, but I’m afraid of falling for a fraudulent organization that will deceive me and not even return my initial money.

  • Anderson
    1 review
    29.10.2023 12:11
    Not the best broker to open an account

    Moonance.com is very peculiar. Have you noticed? A single-page resource – is this a sign of a serious and legitimate broker? I don’t think so. It speaks to some non-seriousness of the firm. Moreover, registration in the offshore state of SVG is also a serious minus. If you are looking for a place to start trading Forex/CFD, Moonance is not the best option. IMHO, there are better intermediaries with a more reliable reputation and guarantees. Here, the license is unclear and little-known, and nothing is said about the business model. In short, there are too many negative factors to consider this firm as your brokerage partner.

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Broker Profile

Date of foundation
Since 2022
License
Offshore
Leverage
1:500
Demo account
Yes
Order Execution Model
DD
Minimum deposit
$250
Duration of existence
More than 2 years
Change of domain
Entire domain changed
Website redesign
Carried out
Legal status
The legal entity is licensed
Change of jurisdiction
No

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