Proprietary trading, often referred to as prop trading, involves trading financial instruments using capital provided by a third party—this could be an individual, a company, a bank, or an investor. These setups typically include a profit-sharing agreement, where traders earn a portion of the profits generated from their trades. The capital provided can range from a partial allocation to the full size of the trading account.

This model allows traders to limit their own financial exposure while benefiting from the opportunity to trade with significantly larger capital than they could access personally.

• Capital Access
‍Many traders, especially early in their careers, don’t have access to substantial funds. Bullwaves Prime offers access to significant trading capital, enabling traders to participate in the markets at a much larger scale.

• Risk-Free Trading
‍With Bullwaves Prime, traders don’t risk their own money. If trades incur losses, it's the firm—not the trader—that absorbs them, offering peace of mind and financial security.

• Generous Profit Sharing
‍Successful traders can retain a large portion of the profits—often up to 80% or 90%. This provides a powerful income opportunity for skilled and consistent performers.

• Growth, Feedback & Community
‍Bullwaves Prime supports trader development with educational resources, trading performance reports, and a collaborative community. This feedback loop helps traders refine their strategies and grow professionally.

• Regulation and Compliance
‍Bullwaves Prime is the first proprietary trading firm directly powered by a regulated broker, offering traders access to MetaTrader 5 (MT5).

Trading with Bullwaves Prime means gaining access to funding, minimizing personal risk, and receiving support to grow as a trader—all while keeping the majority of your hard-earned profits.

Belgium, North Korea, United States, Afghanistan, Belarus, Central African Republic, China, Cuba, Libya, Nicaragua, Palestinian Authority/Gaza/West Bank, Venezuela

Bullwaves is an international forex broker holding multiple licences, which launched its own prop firm branded as Bullwaves Prime.

Begin your mission by selecting one of the Trading Evaluation Packages.

• Click “Get Started” under the account size that you would like to participate in. You will be then add the package to the Cart, where you can finalise the purchase.

• Once you purchase the package and insert all the required information, you will be emailed your login credentials for both the Dashboard and the MT5 trading account.

• From there, you will be able to sign in the BWP dashboard, where you will be able to see the purchased package and get more information regarding your trading account.

• Remember to read through our FAQ for the specific trading objectives and rules before beginning.

All traders must be at least 18 years of age to sign up with Bullwaves Prime.

We offer MetaTrader 5 (MT5), known for its advanced charting, algorithmic trading, and customisability, making it ideal for professional traders.

You can purchase an evaluation through credit/debit card as well as crypto.

• Please note that there might be network fees while using Crypto payment which are not charged by Bullwaves and are not under our control, so always account for a few extra dollars when sending cryptos in order to match the price of the challenge.

• If you have any issue and do not receive your trading account credentials after 10 minutes from the purchase, please contact our team via Live Chat or email us at prime@bullwaves.com

After the payment of your evaluation plan is officially confirmed, you will receive an email with the login details to access your evaluation.
‍
Once this information is emailed to you, the sale will be final and no refund will be issued due to the instantaneous nature of the program.
‍
For our 2-Step and 1-Step Challenges, traders are paid purely based on their simulated performance during the funded trader stage. We do not provide refunds after evaluations are passed.

After the evaluation stage is finished, and before our traders advance to the experienced trader stage, we require a KYC/AML screening to verify your identity.

The Know Your Customer procedure requires a photocopy of your identification document or passport, and a proof of address (utility bill or bank statement).

As soon as your identity has been confirmed, you will be promoted to the experienced trader stage. This is the level at which you become eligible for commission-based payouts.

When a trader finishes the evaluation stage and finishes the KYC process, their commission-eligible account is sent and enabled within 48 business hours of the trader’s completion of both of those processes.

After purchasing a challenge or passing the first phase, you will be receiving your new login credentials via email.

All payouts are processed through Bank Wire or USDT-ERC20.

Payouts are reviewed and sent to the trader within 2-5 full business days of the request, although our team will always process them as fast as possible.

‍Fees: there are no fee on Crypto Withdrawal

‍Bank Wire: $30 flat fee per transaction

‍The minimum amount for withdrawals is set at $50.

‍We suggest filling out the payout information as soon as possible to avoid further delays:

For Crypto payouts: add your USDt (ERC20) address

For Bank wire: fill out the form with your bank details

We reserve the right to wait 24 hours before confirming the payout details for security reasons and to make sure that the details are correct.

The first payout on your funded account is eligible 5 days after your first trade for the 1-step challenge and 10 days for the 2-step challenge.

All subsequent payouts are eligible to be requested weekly.

All payouts are performance commissions while trading in a simulated market environment.

Please note that you can request the payouts only when all your positions are closed.

The minimum payout is set to 50$

The funded account profit split will reach its limit once a trader has gained 6% from the starting balance of the account.

Any positive trading after the 6% gain from the initial balance will not be eligible for your profit split.

Gaining beyond 6% will not break any rules, however these virtual profits would not be included in your withdrawal request.

For example, if you trade continuously for up to $12,000 profit on a 200k account. The profit split will be based on any virtual profits generated up to this point.

You would receive 80% of the numeric value ($12,000 in this case) of the 6% profit on your funded account starting balance.

The 6% maximum gain per payout applies based on the starting balance of the account, and resets after each payout.

This has been introduced to maintain longevity while accessing the community feedback of keeping traders around for the long term. This allows our traders to regularly receive payouts without issues and prevents traders from being prone to attempting high-risk activities such as full margining before news or shooting for the moon with gambling-like approaches. Giving traders the sole focus of consistent payouts leads to higher-quality trade data for us to access. Longevity is our focus. Maximum allocation of virtual funding has been increased to $2,000,000, allowing large payouts to remain a consistent opportunity for the trader. As the maximum allocation of virtual funding is $2,000,000, the maximum gains able to be formed into a profit split at one time would be $120,000, which is still rather favourable. This would be done through a simultaneous gain of 6% on two separate 200k accounts.

At Bullwaves Prime, our goal is to identify and fund traders who demonstrate discipline, consistency, and replicable strategies. To ensure that payouts are based on sustainable trading behavior rather than isolated high-risk trades, the following consistency rules apply when a withdrawal request is submitted.

Profit Consistency Rule

To ensure stable and replicable performance, we apply a 30% cap on both daily profit and single-trade profit at the time of a withdrawal request.

What this means:

• No single trading day may generate more than 30% of the total profit.

• No single trade may generate more than 30% of the total profit.

Example – Daily Profit Cap:If your total profit over 15 trading days is $10,000, then no single day may exceed $3,000 in profit.If one day generates $3,500, the entire trading activity of that day will be removed from both the payout and your account balance.

Example – Single Trade Profit Cap:If your total profit is $10,000, then no individual trade may exceed $3,000 in profit.If a trade earns $4,000, that trade will be removed from the payout and from your account balance.

This rule is applied only at the time of a payout request. Breaching trades or days are treated as a soft breach—you retain account access, but the invalid profits are removed.

Important: The value of the removed profits can exceed the amount requested for payout. Therefore, it is your responsibility to carefully review your trading performance before submitting a withdrawal request.

Lot Size Consistency Rule

To ensure that your trading maintains consistent risk, we apply a lot size range check based on your average trade size at the time of a withdrawal request.

What this means:

We calculate your average lot size.

All profitable trades must fall within this range:
Minimum lot size = average – 70%Maximum lot size = average + 100%

Example: If your average lot size is 1.00, then:
‍
• The minimum valid size is 0.30 lots
• The maximum valid size is 2.00 lots

Only profitable trades that fall outside this range will be excluded from the payout and removed from your account balance.

Trade Aggregation Rule: Trades executed within 30 seconds of each other are aggregated and treated as one trade for the purpose of this rule and the profit consistency rule. This prevents unfair penalization of multi-click entries of a single trading idea.

This rule is applied only when a payout request is submitted. Any trades breaching the range are removed from both the payout amount and your account balance, while the account remains active.

These consistency rules ensure that your trading is not only profitable, but also structured, risk-controlled, and suitable for real-capital allocation. Violations can result in adjustments larger than the requested payout, so traders are strongly advised to assess their trades carefully before requesting a withdrawal.

Exploiting price discrepancies or platform inefficiencies—such as latency arbitrage, triangular arbitrage, or quote manipulation—is strictly prohibited.

‍Reason: These strategies do not rely on legitimate market analysis and cannot be executed reliably with institutional-grade liquidity.

Placing multiple buy and/or sell orders at fixed pip intervals, regardless of market conditions, is prohibited.

‍What is considered grid trading: Opening three or more positions in sequence around a central price without clear directional logic
Using fixed spacing between entries to profit from price oscillation
Applying recovery logic without defined stop-losses or strategy
‍
Important: After a trader is flagged once for grid behavior, even two sequential trades may be reviewed for grid logic if the same structure is repeated.
‍
Reason: Grid strategies expose accounts to extreme risk during trends and are not compatible with responsible capital allocation.

Placing limit orders with tight stop loss and take profit just before high-impact news or market opens is prohibited.

‍What is considered guaranteed limit orders: Placing pending orders shortly before major scheduled events
‍
Using tight TPs (typically 5 to 30 pips) and SLs combined with large lot sizes to capture quick spikes
‍
Trades structured to auto-close upon activation with no meaningful market exposure
‍
Reason: These setups rely on perfect fills and no slippage, which are unrealistic in real market environments and cannot be executed institutionally.

Doubling or exponentially increasing position sizes after each loss to recover drawdown is strictly forbidden.

‍Reason: Martingale systems introduce exponential risk and lead to inevitable account blowouts, making them unacceptable in any institutional trading model.

Opening and closing trades within seconds to benefit from minor price changes is not allowed.

‍Rule: All positions must be held for a minimum of 2 minutes. Profits made below this duration may be cancelled.

‍Reason: These trades exploit execution conditions that do not reflect live market dynamics and rely on latency-free fills.

Each trader must strictly adhere to daily drawdown limits:

‍1-Step Challenge: 4% maximum daily loss
2-Step Challenge: 5% maximum daily loss
‍
Reason: These rules simulate real fund allocation structures. Breaching them demonstrates a lack of risk management discipline.

Opening large positions while the account is already in drawdown as a way to recover quickly is prohibited.

‍Reason: This compounds exposure, increases the risk of full loss, and reflects non-professional behavior.

Consistently taking trades in only one direction (e.g., always long or always short) on a single asset without adaptation is not allowed.

‍Reason: This type of directional bias without analytical justification demonstrates speculative behavior.

Using bots, AI systems, or automated scripts for trading is strictly forbidden.

‍Bullwaves Prime is designed to identify and fund talented traders with unique, discretionary strategies—not automated systems.

Reason: EAs can bypass platform controls and implement non-compliant strategies. They mask real trading skill and cannot be properly evaluated for funding.

Trading in synchronization with other accounts, copying signals, or using mirroring software is not allowed.

‍Reason: Each account must reflect the independent decision-making of the trader. Coordinated activity invalidates performance evaluations.

Opening long and short positions on the same instrument simultaneously (including across multiple accounts) is prohibited.

‍Reason: This artificially neutralizes risk and may be used to manipulate drawdown or account metrics.

Placing both buy and sell pending orders around the market price before a known event is not permitted.

‍Reason: This is not based on any analysis or strategic intent, but rather on pure volatility exploitation, which is inconsistent with real market execution.

Only the registered trader may access the account. Sharing, transferring, or reselling account credentials is strictly prohibited.

‍Reason: The purpose of the program is to assess individual performance. Unauthorized access invalidates this principle.

Trading in a reckless, emotional, or unstructured manner is not tolerated.

‍Rule: If more than 60% of trades show a negative risk:reward profile (e.g., risking 50 pips for a 10 pip target), the account will be considered in breach.
‍
Reason: This behavior reflects gambling, not disciplined trading.

All trading accounts are monitored in real-time and reviewed in detail before payouts. Violations of the above rules may result in:

Profit removal
Account reset or closure
Termination from the program
‍
By trading with Bullwaves Prime, you agree to operate within these rules and uphold the standards of institutional-grade, risk-managed trading.

Firstly, Congratulations! Make sure all positions are closed and confirm you have reached the minimum profit target for the specific phase of the challenge while respecting all challenge parameters.

At this point, your challenge will be labeled as “Complete”.

Our system will generate the experienced trader stage immediately once the challenge is complete.

The experienced trader stage will be labelled as “Pending”.

This is the time to submit all KYC information and the funded trader agreement to your dashboard. Once these documents have been provided, your experienced trader account will be enabled to trade within 3 full business days.

Payouts will be eligible on a weekly basis, depending on the challenge that you purchased.  Note: If you encounter any issues with the 3rd party verification gateway, please notify our team via live chat and we will reset your KYC status for re-submission manually.

The maximum amount of commission eligible buying power that a trader can unlock during the 'funded' stage is currently $2,000,000.

The 1-step challenge and 2-step challenge sizes include:

• $10,000
• $25,000
• $50,000
• $100,000
• $200,000

Challenge accounts require you to pass an evaluation to demonstrate your trading skill.

Once the challenge is successfully completed, you gain access to a funded account with the conditions as agreed in the purchase

Yes, you can have multiple challenge accounts, but hedging between different accounts or challenges is not allowed.

After passing the challenge, you can enjoy a profit split of up to 80% on your funded account.