A valid trading day is any day on which at least one position is opened, regardless of whether it remains open overnight.

1-Step Challenge: minimum 10 active trading days
2-Step Challenge: minimum 3 active trading days

The 10-day minimum also applies to all funded account payout requests. If the profit target is reached before completing the required number of trading days, the trader must continue trading until the minimum is met.

‍Placing trades with artificially undersized lot sizes solely to satisfy the trading day count, without genuine strategic intent, is considered manipulation of programme requirements and may be treated as a breach.

2-Step Challenge: 8% (Step 1) and 5% (Step 2)
1-Step Challenge: 10%

Targets are based on gain from the initial account balance. No profit target applies during the funded stage.

1:50 leverage is offered on all accounts. Contract sizing varies per instrument and should be verified before trading.

Traders are granted unlimited time to complete the evaluation. Once the profit target is met and all other conditions are satisfied, the upgrade process begins.

Trading is permitted while a payout request is pending. However, if the account is breached while a payout is pending, the payout request will be rejected.

All trading on an account must be performed solely by the registered account holder. Third-party live account management services are strictly prohibited and will result in account breach.

Violation of drawdown limits (see Section 4F)
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Inactivity for 30 consecutive days
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Third-party account management or copy trading from other users on the platform
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Any breach of the Prohibited Trading Strategies outlined in Section 4

Holding positions during scheduled news events is permitted. However, opening or closing positions within 3 minutes before or after a news release is not allowed.

Daily Drawdown (5% for 2-Step, 4% for 1-Step) is equity-based and trails from the highest equity of the current day, reset at 00:00 Market Watch Time (17:00 EST).

Total Drawdown (10% for 2-Step, 8% for 1-Step) is a trailing metric from the initial account balance or highest equity achieved, whichever is greater.

‍Example: A $100,000 account with a 10% trailing drawdown. If equity reaches $110,000, the hard breach level moves to $99,000 and continues to trail equity upward.
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1-Step Challenge: Opening, closing, and holding positions over the weekend is permitted.

2-Step Challenge: All positions must be closed before market close on Friday. Weekend holding is not permitted.

Simulated crypto trading during the weekend is available on funded accounts.

EA and trade copiers are permitted during the challenge phase only. During the funded stage, all automated strategies, trade copiers, and scripted systems are strictly prohibited.

Using a personal copy trader to mirror your own trades onto your Prime account is permitted. However, identical orders placed at identical times by two or more users on the platform will trigger a violation. One warning is issued for a first offence; a second occurrence results in account breach.

Multiple logins from different devices are permitted. Restrictions may apply to unusual IP patterns that suggest account sharing or fraudulent activity.

Funded accounts that remain inactive for 30 consecutive days will be suspended. Logging in without placing trades does not reset the inactivity timer. Traders may be required to pass a new evaluation phase to resume trading.

All payouts are processed via Bank Wire or USDT-ERC20 within 2–5 business days of request.

Crypto withdrawals: no fee
Bank wire: $30 flat fee per transaction
Minimum withdrawal: $50

The first payout becomes eligible 15 calendar days after the first trade is placed. Subsequent payouts may be requested every 15 calendar days. A minimum of 10 active trading days is required before any payout request is submitted. All positions must be closed before requesting a payout.

The maximum gain eligible for profit split in any single payout period is 6% of the funded account starting balance.

Profits exceeding 6% do not cause a breach but are not included in the payout calculation. The 6% cap resets after each payout. Maximum total allocation is $2,000,000.

For 1-Step Challenges, no single trading day’s profit (calculated as the equity at the end of the day minus the equity at the end of the previous day) may represent 30% or more of the total account profit at the time of a payout request.

For 2-Step Challenges, no single trading day’s profit may represent 40% or more of the total account profit at the time of a payout request.

If a single trading day exceeds the applicable threshold, the trader must continue trading and increase total profits until the highest-profit day falls below the required limit.

This rule applies continuously throughout the lifetime of the account and does not reset after payouts.

‍Formula:
(Highest Profit Day ÷ Total Profit) × 100

‍To be eligible for a payout, the result must remain:
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‍Below 30% for 1-Step Challenges
Below 40% for 2-Step Challenges

At the time of a payout request, all profitable trades must fall within the following range based on the account's overall average lot size across all instruments:

Minimum: average lot size minus 70%
Maximum: average lot size plus 100%

Profitable trades outside this range are excluded from both the payout amount and the account balance. The account remains active.

Trade Aggregation: Trades executed within 10 minutes of each other on the same instrument in the same direction are aggregated and treated as a single trade for the purposes of both the Lot Size Consistency Rule and the Profit Consistency Rule.

‍The lot size consistency rule is applied globally across all instruments on the account. A trader who sizes positions differently on different instruments must ensure that no single profitable trade falls outside the account-wide average range. Instrument type does not affect this calculation.

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.

‍Grid trading includes: Opening three or more positions in sequence around a central price without clear directional logicUsing fixed spacing between entries to profit from price oscillation

Applying recovery logic without defined stop-losses or consistent strategy

‍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.

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

‍This includes:Pending orders placed shortly before major scheduled eventsTight take-profits (typically 5–30 pips) combined with large lot sizes to capture rapid spikes

Trades structured to auto-close on activation with no meaningful market exposure

‍Reason: These setups rely on perfect fills and zero slippage, which are unrealistic in live institutional execution.

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 movements is not allowed.

‍Minimum hold time rules:All instruments (standard): minimum 2-minute hold time

High-volatility instruments (XAUUSD, BTCUSD, and all indices): minimum 5-minute hold time

Profits generated from trades closed below the applicable minimum hold time may be cancelled and deducted from the account balance.

‍Reason: Short-duration trades on volatile instruments exploit execution conditions that do not reflect live institutional market dynamics.

Each trader must strictly adhere to daily drawdown limits:

‍1-Step Challenge: 4% maximum daily loss
2-Step Challenge: 5% maximum daily loss
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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 in order to recover quickly is prohibited.

‍Reason: This compounds exposure, increases the risk of total loss, and reflects non-professional trading 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 on funded accounts is strictly forbidden.

‍Reason: Automated systems mask real trading skill, cannot be properly evaluated for funding, and may bypass platform controls to implement non-compliant strategies.

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.
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Reason: This behavior reflects gambling, not disciplined trading.

The maximum loss attributable to a single trade idea must not exceed 2% of the account's initial balance.

‍Definition of a single trade idea:

‍Multiple positions opened on the same instrument in the same direction are considered one trade idea

Any re-entry on the same instrument in the same direction opened within 10 minutes of a previous position on that instrument closing is treated as a continuation of the same trade idea

Splitting a trade into multiple simultaneous positions does not create separate trade idea, combined exposure is assessed as oneIf the combined loss from a single trade idea exceeds 2% of the initial account balance, the account will be considered in breach.

‍Reason: This rule prevents the use of disproportionate single-idea risk on high-volatility instruments, discourages emotional re-entry after loss, and ensures that funded capital is allocated to genuinely consistent risk management rather than a series of large binary bets.

All trading accounts are monitored in real time and reviewed in detail before every payout request is processed. Compliance review covers, but is not limited to:

Position timing, duration, and lot size consistency
Cross-account trade correlation analysis
Drawdown and risk limit adherence
Automated execution pattern detection
Directional bias and strategy consistency

Violations of the rules in this document may result in any of the following outcomes, applied at Bullwaves Prime's sole discretion:

Removal of profits from specific non-compliant trades
Account resetAccount closure
Permanent ban from the programme under all account types and promotional offers
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By trading with Bullwaves Prime, you confirm that you have read, understood, and agreed to all rules and conditions set out in this document. These rules are effective from the moment your first trade is placed.

Ensure all positions are closed and the profit target has been met with all challenge parameters satisfied.

The system will generate the funded stage automatically.

Submit all KYC documentation and the funded trader agreement within your dashboard. Your funded account will be enabled within 3 business days of document verification.

The maximum commission-eligible buying power available to a single trader is $2,000,000.

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

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

Multiple challenge accounts are permitted. However, hedging between different accounts is strictly prohibited.

Upon passing the challenge and completing KYC, traders receive a profit split of up to 80% on the funded account.