FBS vs BullWaves: Which Is Better in 2026? Regulation, Spreads, Withdrawals Compared

	FBS	BullWaves
Founded	2009	2023
Regulation	FSC Belize, CySEC, ASIC, FSCA	FSA Seychelles
Min. deposit	from $5	$100
Spreads & commissions	Standard from 0.7 pips; ECN from 0.0 + $6 per lot round turn	from 1.6 pips (Classic); Raw: $3 per lot per side (ECN)
Leverage	up to 1:3000	up to 1:500 (1:200 energies, 1:20 shares)
Platforms	MT4, MT5, FBS App	MT5
Bonuses	regional bonuses and cashback, loyalty programme	in some regions
Copy trading	— check	yes
Funding & withdrawals	cards, transfers, e-wallets, crypto, Asian local methods; withdrawals usually within a day	see the BullWaves review

Who FBS suits

Strong in Southeast Asia; 1:3000 leverage is among the highest in the market. Weak spots: 1:3000 leverage is dangerous for beginners; cis retail clients are served by the offshore entity; bonus terms vary by country.

Who BullWaves suits

MT5, ECN from 0.1, copy trading, deposit bonus. Best for copy trading and the deposit bonus. We hold a live account at BullWaves and measure conditions monthly — details in the review.

Our take

If a familiar brand or bonuses matter most, FBS remains a workable choice. If you value execution and withdrawal conditions we have tested, all-in cost and a clear contracting entity for your country — BullWaves.

Other comparisons: FBS vs Vantage, FBS vs VT Markets.

Frequently asked questions

Which is safer, FBS or BullWaves?

FBS: FSC Belize, CySEC, ASIC, FSCA, since 2009. BullWaves: FSA Seychelles, since 2023. What matters most is which entity contracts with you in your country — see the reviews.

Who has lower spreads, FBS or BullWaves?

FBS: Standard from 0.7 pips; ECN from 0.0 + $6 per lot round turn. BullWaves: from 1.6 pips (Classic); Raw account $3 per lot per side (ECN).