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

	Pepperstone	BullWaves
Founded	2010	2023
Regulation	ASIC, FCA, CySEC, DFSA, BaFin, CMA Kenya, SCB	FSA Seychelles
Min. deposit	no minimum, $200 recommended	$100
Spreads & commissions	Standard from 1.0 pip no commission; Razor from 0.0 + $3.5 per lot per side	from 1.6 pips (Classic); Raw: $3 per lot per side (ECN)
Leverage	up to 1:500 offshore; 1:30 in the EU, UK and Australia	up to 1:500 (1:200 energies, 1:20 shares)
Platforms	MT4, MT5, cTrader, TradingView, Pepperstone Platform	MT5
Bonuses	no bonuses — broker policy	in some regions
Copy trading	— check	yes
Funding & withdrawals	cards, bank transfers, PayPal, Skrill, Neteller; no broker fees	see the BullWaves review

Who Pepperstone suits

Seven licences including FCA and ASIC; a benchmark for execution among scalpers. Weak spots: no bonuses or cent accounts; does not accept clients from several countries — check the list; standard spreads not the tightest.

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, Pepperstone 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: Pepperstone vs Vantage, Pepperstone vs VT Markets.

Frequently asked questions

Which is safer, Pepperstone or BullWaves?

Pepperstone: ASIC, FCA, CySEC, DFSA, BaFin, CMA Kenya, SCB, since 2010. BullWaves: FSA Seychelles, since 2023. What matters most is which entity contracts with you in your country — see the reviews.

Who has lower spreads, Pepperstone or BullWaves?

Pepperstone: Standard from 1.0 pip no commission; Razor from 0.0 + $3.5 per lot per side. BullWaves: from 1.6 pips (Classic); Raw account $3 per lot per side (ECN).