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TRADER PAYOUT / FIRM INTELLIGENCE

Bullwaves PrimeRules, payouts & what changed.

Forex

Rules checked 11 Nov 2026, 19:45 UTC · automated daily checks off

Profit split
80%Plan-specific profit share
Payout cycle
every 15 daysEligibility cycle, not bank arrival
Drawdown
See termsCheck the threshold in the rules
Daily loss
Not verifiedDo not assume there is no limit

01 / KNOW YOUR ACCOUNT

Explore the rules.

1-Step and 2-Step challenges on MT5, $10,000 to $200,000; prop arm of the regulated Bullwaves broker
Program1-Step and 2-Step challenges, account sizes $10,000 to $200,000; MT5 only; maximum allocation $2,000,000 per trader
WHAT IT MEANSThis is a plan-scoped source observation. Check the linked official terms before using it for your account.
Read official source

1-Step and 2-Step challenges on MT5, $10,000 to $200,000; prop arm of the regulated Bullwaves broker · checked 11 Nov 2026, 19:45 UTC

Profit target2-Step: 8% then 5%; 1-Step: 10%; no target once funded; unlimited evaluation time
WHAT IT MEANSThis is a plan-scoped source observation. Check the linked official terms before using it for your account.
Read official source

1-Step and 2-Step challenges on MT5, $10,000 to $200,000; prop arm of the regulated Bullwaves broker · checked 11 Nov 2026, 19:45 UTC

Daily drawdownEquity-based from the day's highest equity: 5% on 2-Step, 4% on 1-Step; resets 17:00 EST
WHAT IT MEANSThe account loss threshold. Static limits stay tied to a fixed balance; trailing limits can move with account performance. The exact plan terms control.
Read official source

1-Step and 2-Step challenges on MT5, $10,000 to $200,000; prop arm of the regulated Bullwaves broker · checked 11 Nov 2026, 19:45 UTC

Max drawdown10% on 2-Step, 8% on 1-Step; 2-Step also carries a trailing drawdown on equity highs
WHAT IT MEANSThe account loss threshold. Static limits stay tied to a fixed balance; trailing limits can move with account performance. The exact plan terms control.
Read official source

1-Step and 2-Step challenges on MT5, $10,000 to $200,000; prop arm of the regulated Bullwaves broker · checked 11 Nov 2026, 19:45 UTC

Minimum trading days10 active days in each evaluation stage; funded payouts need 10 active days including 6 profitable days (0.5%+ of initial balance)
WHAT IT MEANSThe minimum number of qualifying trading days in the stated phase. Reaching this number does not by itself guarantee a payout.
Read official source

1-Step and 2-Step challenges on MT5, $10,000 to $200,000; prop arm of the regulated Bullwaves broker · checked 11 Nov 2026, 19:45 UTC

Profit splitUp to 80% on the funded account after KYC
WHAT IT MEANSThe share of eligible trading profits paid to you. An add-on or another plan can change the share.
Read official source

1-Step and 2-Step challenges on MT5, $10,000 to $200,000; prop arm of the regulated Bullwaves broker · checked 11 Nov 2026, 19:45 UTC

PayoutsFirst request 15 days after the first trade, then every 15 days; 2-5 day processing; live payout ledger published
WHAT IT MEANSThis describes when you may become eligible to request a payout. It is not the time it takes for money to arrive.
Read official source

1-Step and 2-Step challenges on MT5, $10,000 to $200,000; prop arm of the regulated Bullwaves broker · checked 11 Nov 2026, 19:45 UTC

News tradingHolding through news allowed; opening or closing within 3 minutes of a release is not
WHAT IT MEANSThis is a plan-scoped source observation. Check the linked official terms before using it for your account.
Read official source

1-Step and 2-Step challenges on MT5, $10,000 to $200,000; prop arm of the regulated Bullwaves broker · checked 11 Nov 2026, 19:45 UTC

Daily loss limitNot verified in this snapshot
COVERAGE GAPThere is no separately verified value for this field in the recorded plan snapshot. Unknown does not mean no limit or instant processing.
Payment processingNot verified in this snapshot
COVERAGE GAPThere is no separately verified value for this field in the recorded plan snapshot. Unknown does not mean no limit or instant processing.

8 sourced rules · expand a row for context and its source.

Topic filters do not verify stage-specific applicability. This snapshot covers 1-Step and 2-Step challenges on MT5, $10,000 to $200,000; prop arm of the regulated Bullwaves broker only.

03 / THE RECORD

What changed, and when.

1 new changes

BY TYPE

What the records are

4dated records
  • Offer announcements0
  • Rule changes3
  • Ended0
  • Notices1

Counts of dated records in this draft, not a full market history.

RECORD ACTIVITY

Dated records per month

4Nov

New changes and historical records with a date. Counts are records, not severity.

Official site states that for all 2-Step accounts purchased on or after 12 November 2026, trailing drawdown is removed and replaced with an 8% static maximum drawdown, applying to both Challenge phases and the Funded account. Accounts purchased before 12 November 2026 remain subject to their purchase-date terms.

Official site · Dated source observation
Source

Prime 2.0 Stacking Limit on all new accounts: maximum 3 open positions in the same direction on one instrument; opening a 4th is a hard breach.

Official X · Historical baseline, not a new change
Source

6% payout cap removed (payouts now unlimited) and challenge consistency rules removed, effective with Prime 2.0.

Official X · Historical baseline, not a new change · year inferred
Source

Prime 2.0 launched with rebuilt infrastructure and a revamped website.

Official X · Historical baseline, not a new change · year inferred
Source

Promotions and historical records are not current rules. Check record dates and product scope before relying on them.

Full research record & account-specific caveats

Bullwaves Prime Rules and Rule Changes

Current rules

1-Step and 2-Step challenges on MT5, $10,000 to $200,000; prop arm of the regulated Bullwaves broker · checked 11 Nov 2026, 19:45 UTC. Plan-specific observation, not a new change.

Program

1-Step and 2-Step challenges, account sizes $10,000 to $200,000; MT5 only; maximum allocation $2,000,000 per trader

Official source

Profit target

2-Step: 8% then 5%; 1-Step: 10%; no target once funded; unlimited evaluation time

Official source

Daily drawdown

Equity-based from the day's highest equity: 5% on 2-Step, 4% on 1-Step; resets 17:00 EST

Official source

Max drawdown

10% on 2-Step, 8% on 1-Step; 2-Step also carries a trailing drawdown on equity highs

Official source

Minimum trading days

10 active days in each evaluation stage; funded payouts need 10 active days including 6 profitable days (0.5%+ of initial balance)

Official source

Payouts

First request 15 days after the first trade, then every 15 days; 2-5 day processing; live payout ledger published

Official source

News trading

Holding through news allowed; opening or closing within 3 minutes of a release is not

Official source

Bullwaves Prime payout rules

Profit split

Up to 80% on the funded account after KYC

1-Step and 2-Step challenges on MT5, $10,000 to $200,000; prop arm of the regulated Bullwaves broker · checked 11 Nov 2026, 19:45 UTC

Official source

Payouts

First request 15 days after the first trade, then every 15 days; 2-5 day processing; live payout ledger published

1-Step and 2-Step challenges on MT5, $10,000 to $200,000; prop arm of the regulated Bullwaves broker · checked 11 Nov 2026, 19:45 UTC

Official source

Bullwaves Prime consistency rule

Not verified in this plan-scoped snapshot. Check the firm source before relying on an answer.

Bullwaves Prime new rules: do they apply to existing accounts?

Only explicit source statements establish whether a change affects existing accounts. A page update or new-buyer promotion is not proof that your account rules changed.

Existing-account applicability is not stated in the scoped evidence shown here. Do not assume new terms apply retroactively.

Offer observations

Dated observations, not a checkout guarantee. Product scope and expiry must be checked.

No offer observation in this review.

Discount history

Separate dated observations, not continuous prices or directly comparable programme offers.

No discount history in this review.

Perps availability

No verified perps status for this firm in this review. This is not evidence that a programme does not exist.

Rule change history

Dated records can include offers, notices and payouts as well as rules. Check the record type before treating an entry as a rule change.

Bullwaves PrimeOfficial site states that for all 2-Step accounts purchased on or after 12 November 2026, trailing drawdown is removed and replaced with an 8% static maximum drawdown, applying to both Challenge phases and the Funded account. Accounts purchased before 12 November 2026 remain subject to their purchase-date terms.Rule observationOfficial site

Historical records

Historical observations, not current conditions or new changes.

Bullwaves Prime6% payout cap removed (payouts now unlimited) and challenge consistency rules removed, effective with Prime 2.0.Rule observationOfficial X
Bullwaves PrimePrime 2.0 launched with rebuilt infrastructure and a revamped website.NoticeOfficial X
Bullwaves PrimePrime 2.0 Stacking Limit on all new accounts: maximum 3 open positions in the same direction on one instrument; opening a 4th is a hard breach.Rule observationOfficial X