Ethan B+$5,487.21100K
Matteo R+$9,862.44200K
Ifeanyi O+$2,676.8050K
Carla M+$1,392.1525K
Zayd A+$11,743.92200K
Noah K+$4,908.67100K
Frequently Asked Question
Trading Rules.
Connect with our live chat or leave a message in our contact form below if you don’t find an answer to your question
Profit target
1 Step10%
2 Step8% + 5%
Daily drawdown
1 Step4%
2 Step5%
Max drawdown
1 Step8%
2 Step10%
Min. trading days
1 Step10
2 Step10 per phase
Weekend holding
1 StepAllowed
2 StepNot allowed
01
Getting Started
10 rulesAWhat is a Prop Firm
Proprietary trading involves trading financial instruments using capital provided by a third party. These setups include a profit-sharing agreement, where traders earn a portion of the profits generated. This allows traders to limit their own financial exposure while benefiting from access to significantly larger capital.
BWhy Trade with a Prop Firm like Bullwaves Prime
• Capital Access
Access to significant trading capital, enabling traders to participate in markets at a much larger scale.
• Risk-Free Trading
Traders do not risk their own money. Losses are absorbed by the firm.
• Generous Profit Sharing
Successful traders retain up to 80% of profits.
• Growth, Feedback & Community
Educational resources, performance reports, and a collaborative community.
• Regulation and Compliance
The first prop firm directly powered by a regulated broker, with full MT5 access.
Access to significant trading capital, enabling traders to participate in markets at a much larger scale.
• Risk-Free Trading
Traders do not risk their own money. Losses are absorbed by the firm.
• Generous Profit Sharing
Successful traders retain up to 80% of profits.
• Growth, Feedback & Community
Educational resources, performance reports, and a collaborative community.
• Regulation and Compliance
The first prop firm directly powered by a regulated broker, with full MT5 access.
CRestricted Countries
The following countries are not eligible to participate: Belgium, North Korea, United States, Afghanistan, Belarus, Central African Republic, China, Cuba, Libya, Nicaragua, Palestinian Authority/Gaza/West Bank, Venezuela.
DWhat is the difference between Bullwaves and Bullwaves Prime?
Bullwaves is an international forex broker holding multiple licences, which launched its own prop firm branded as Bullwaves Prime.
EHow do I get started?
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.
• 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.
FTrading Platform
MetaTrader 5 (MT5) is the only supported platform.
GPayment Methods
Evaluations may be purchased via credit/debit card or cryptocurrency. Network fees on crypto transactions are not charged by Bullwaves Prime and are beyond our control.
HRefund Policy
Once login credentials have been issued following a confirmed payment, the sale is final and no refund will be issued. Traders on 2-Step and 1-Step Challenges are paid based on simulated performance only.
IKYC Requirements
Before advancing to the funded stage, all traders must complete KYC verification by providing a government-issued ID or passport and proof of address (utility bill or bank statement dated within 90 days).
JAge Requirements
All traders must be at least 18 years of age to participate.
02
General Rules
15 rulesAMinimum Trading Days
A valid trading day is any day on which at least one genuine position is opened, regardless of whether the position remains open overnight.
1 Step Challenge: minimum 10 active trading days.
2 Step Challenge: minimum 10 active trading days in both Phase 1 and Phase 2.
Funded Accounts: a minimum of 10 active trading days is required before submitting a payout request.
Funded Accounts also require a minimum of 6 Profitable Trading Days before a payout request can be submitted. A trading day qualifies as a Profitable Trading Day only when the eligible profit generated during that day is at least 0.5% of the account's initial balance and the current account balance is equal to or greater than the initial balance.
If the profit target is reached before completing the required number of trading days, the trader must continue trading until the minimum requirement has been met.
Trades placed using artificially small lot sizes solely for the purpose of increasing the trading day count, without genuine strategic intent, may be considered manipulation of the programme requirements.
1 Step Challenge: minimum 10 active trading days.
2 Step Challenge: minimum 10 active trading days in both Phase 1 and Phase 2.
Funded Accounts: a minimum of 10 active trading days is required before submitting a payout request.
Funded Accounts also require a minimum of 6 Profitable Trading Days before a payout request can be submitted. A trading day qualifies as a Profitable Trading Day only when the eligible profit generated during that day is at least 0.5% of the account's initial balance and the current account balance is equal to or greater than the initial balance.
If the profit target is reached before completing the required number of trading days, the trader must continue trading until the minimum requirement has been met.
Trades placed using artificially small lot sizes solely for the purpose of increasing the trading day count, without genuine strategic intent, may be considered manipulation of the programme requirements.
BProfit Target
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-Step Challenge: 10%
Targets are based on gain from the initial account balance. No profit target applies during the funded stage.
CLeverage
1:50 leverage is offered on all accounts. Contract sizing varies per instrument and should be verified before trading.
DEvaluation Duration
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.
ETrading While Awaiting Payout
Accounts are disabled while a payout request is pending, trading is therefore not permitted until the payout has been processed and the account has been reactivated.
FAccount Management Prohibition
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.
GCauses of Account Termination
Violation of drawdown limits (see Section 4F)
Inactivity for 30 consecutive days
Third-party account management or copy trading from other users on the platform
Any breach of the Prohibited Trading Strategies outlined in Section 4
Inactivity for 30 consecutive days
Third-party account management or copy trading from other users on the platform
Any breach of the Prohibited Trading Strategies outlined in Section 4
HNews Trading
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.
IDrawdown Calculation
Daily Drawdown is equity based and is calculated from the highest equity reached during the current trading day.
The limit is 5% for 2 Step Challenges and 4% for 1 Step Challenges.
The Daily Drawdown resets every day at 00:00 Market Watch Time, 17:00 EST.
Maximum Drawdown
The Maximum Drawdown is calculated based on the applicable account limit.
The limit is 10% for 2 Step Challenges and 8% for 1 Step Challenges.
If the account equity or balance falls below the Maximum Drawdown limit, the account will be considered breached.
Trailing Drawdown
For 2 Step Challenges, a Trailing Drawdown applies in addition to the Daily Drawdown and Maximum Drawdown requirements.
The Trailing Drawdown follows the highest equity achieved on the account and moves upward whenever a new equity high is reached.
Once the Trailing Drawdown level moves upward, it does not move back down if the account equity subsequently decreases.
If the account equity falls below the applicable Trailing Drawdown level, the account will be considered breached.
The limit is 5% for 2 Step Challenges and 4% for 1 Step Challenges.
The Daily Drawdown resets every day at 00:00 Market Watch Time, 17:00 EST.
Maximum Drawdown
The Maximum Drawdown is calculated based on the applicable account limit.
The limit is 10% for 2 Step Challenges and 8% for 1 Step Challenges.
If the account equity or balance falls below the Maximum Drawdown limit, the account will be considered breached.
Trailing Drawdown
For 2 Step Challenges, a Trailing Drawdown applies in addition to the Daily Drawdown and Maximum Drawdown requirements.
The Trailing Drawdown follows the highest equity achieved on the account and moves upward whenever a new equity high is reached.
Once the Trailing Drawdown level moves upward, it does not move back down if the account equity subsequently decreases.
If the account equity falls below the applicable Trailing Drawdown level, the account will be considered breached.
JWeekend Holding Policy
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.
2-Step Challenge: All positions must be closed before market close on Friday. Weekend holding is not permitted.
KCrypto Weekend Trading
Simulated crypto trading during the weekend is available on funded accounts.
LExpert Advisors and Trade Copiers
Only pre-approved trading bots, AI tools, scripts, and Expert Advisors (EAs) are permitted on Challenge and Funded accounts. All unapproved automation tools are strictly prohibited. Trade copying between different users remains prohibited.
MIP Address Policy
Multiple logins from different devices are permitted. Restrictions may apply to unusual IP patterns that suggest account sharing or fraudulent activity.
NInactivity Policy
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.
OSoft Breaches
A Soft Breach is a rule violation that does not immediately result in account closure. Depending on the violation, Bullwaves Prime may issue a warning, remove affected profits, restrict activity or request verification. Soft breaches may be detected automatically or during manual review. Examples include trade copying (first offence), lot size inconsistencies, restricted news trading, unusual account access and trading day manipulation. Minimum holding time, stacking limit and stop-loss violations are hard breaches. Profit Consistency soft breaches follow the payout rule: 4 soft breaches result in a hard breach and account disqualification. Repeated soft breaches or deliberate attempts to bypass the rules may result in permanent account closure.
03
Payouts
6 rulesNo payout size cap applies. All other payout requirements still apply.
AHow Are Payouts Processed?
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
Crypto withdrawals: no fee
Bank wire: $30 flat fee per transaction
Minimum withdrawal: $50
BPayout Schedule
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.
CProfit Consistency
Any single trade generating more than 15% of total profits triggers a soft breach; accumulating 4 soft breaches results in a hard breach and account disqualification. This payout rule does not apply during the Challenge phases.
DLot Size Consistency Rule
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.
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.
EClosed Trades Before First Payout
Requires a minimum of 10 qualifying closed trades before requesting the initial payout.
FMandatory Stop Loss
A Stop Loss must be set within 60 seconds of opening any trade. Failure to set one within 60 seconds results in a hard breach.
04
Trading Strategies
19 rulesAProhibited Trading Strategies and Behaviors
The following trading behaviors are strictly prohibited under the Bullwaves Prime programme. These rules apply from the first trade placed and are enforced at all times, not only at payout. Violations may result in profit removal, account reset, account closure, or permanent ban.
BArbitrage Trading
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.
Reason: These strategies do not rely on legitimate market analysis and cannot be executed reliably with institutional-grade liquidity.
CGrid Trading
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.
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.
DGuaranteed Limit Orders Around Volatility Events
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.
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.
EMartingale Strategy
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.
Reason: Martingale systems introduce exponential risk and lead to inevitable account blowouts, making them unacceptable in any institutional trading model.
FTick Scalping (Minimum Hold Time)
Trades must be held for a minimum duration of 60 seconds for all instruments. Violating the minimum holding time results in a hard breach.
GBreaching Daily Risk Limits
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.
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.
HExcessive Risk During Drawdown
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.
Reason: This compounds exposure, increases the risk of total loss, and reflects non-professional trading behavior.
IOne-Sided Betting
Over-concentrating your positions in a single direction on one instrument within a payout period is strictly prohibited.
JEAs & Automations
Only pre-approved trading bots, AI tools, scripts, and Expert Advisors (EAs) are permitted on Challenge and Funded accounts. All unapproved automation tools are strictly prohibited.
KTrade Coordination & Copy Trading
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.
Reason: Each account must reflect the independent decision-making of the trader. Coordinated activity invalidates performance evaluations.
LHedge Trading
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.
Reason: This artificially neutralizes risk and may be used to manipulate drawdown or account metrics.
MBracketing Strategy
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.
Reason: This is not based on any analysis or strategic intent, but rather on pure volatility exploitation, which is inconsistent with real market execution.
NAccount Sharing or Reselling
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.
Reason: The purpose of the program is to assess individual performance. Unauthorized access invalidates this principle.
OMax Loss Per Trade Idea
The total maximum loss across all positions within a single trade idea cannot exceed 1% of the initial account balance, including swap fees and commissions. Multiple positions on the same instrument in the same direction are assessed together; splitting a trade into multiple positions does not create separate trade ideas.
PMonitoring and Enforcement
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
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.
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
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.
QRapid Re-Entry
Re-opening a trade on the same instrument and direction within 15 seconds of closing a prior position is treated as a single continuous trade.
RStacking Limit
Maximum of 3 open positions in the same direction on a single instrument. Violating this limit results in a hard breach.
SGambling
Trading in a reckless, emotional, or unstructured manner is not tolerated. 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. This behavior reflects gambling, not disciplined trading.
05
Challenge Specifics
5 rulesAI Passed The Challenge, What’s Next?
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 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.
BMaximum Capital Allocation
The maximum commission-eligible buying power available to a single trader is $2,000,000.
CAvailable Account Sizes
The 1-step challenge and 2-step challenge sizes include:
• $10,000
• $25,000
• $50,000
• $100,000
• $200,000
• $10,000
• $25,000
• $50,000
• $100,000
• $200,000
DMultiple Accounts
Multiple challenge accounts are permitted. However, hedging between different accounts is strictly prohibited.
EProfit Split
Upon passing the challenge and completing KYC, traders receive a profit split of up to 80% on the funded account.
No rules match your search.