BluwaveFX review and ratings

Established 2021
Location Saint Vincent and the Grenadines
Regulation None
Offices Kingstown
Broker type STP
Leverage up to 1:500
Deposit from 10 USD
Spreads low  low
Platforms Web MetaTrader 4
Instruments Currencies Crypto Indices Metals Energies Stocks
Funding methods Credit Cards Bitcoin

Company information

BluwaveFX is a legally registered forex broker located in the Saint Vincent and the Grenadines, but not regulated by any government agency.


BluwaveFX accepts clients from all over the world, excluding Afghanistan, Botswana, Congo, Cuba, Ethiopia, Iran, Iraq, Japan, Lebanon, Libya, Malta, Myanmar, DPRK, Kenya, Pakistan, Somalia, Sri Lanka, Sudan, Syria, Tunisia, Vietnam, Yemen, Zimbabwe.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

55+ Currency Pairs Based on major and minor world currencies.
18 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Binance Coin, BAT, Dash, Dogecoin, EOS, Ethereum, Ethereum Classic, Iota, Litecoin, Neo, OmiseGO, Tron, Stellar Lumens, Monero, Ripple, Zcash.
11 Indice CFDs Based on baskets of different blue-chip stocks and US Dollar Index.
4 Metal CFDs Based on Gold, Silver, Platinum and Copper.
3 Energy CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.
35+ Stock CFDs Based on shares of US and EU companies.

Comprehensive review

Registered in Saint Vincent and the Grenadines, Bluwave is a forex & CFD broker that accepts funding in bitcoin, and that offers trading in all of the most popular assets with high leverage of up to 1:500.

Along with all other forex brokers that are based out of Saint Vincent and the Grenadines, BluwaveFX is completely unregulated. And while this offers some benefits, such as an easier sign-up process and higher leverage, it’s also important to keep in mind that things like investor protection schemes in case a broker goes out of business are normally not in place for unregulated brokers.

A special thing to note about BluewaveFX is that this broker, unlike most other forex brokers we have reviewed here on FX-List, currently only accepts bitcoin for account deposits and withdrawals. And while this may sound like a bit of a hassle for traders who don’t already own bitcoin, a solution also exists to first buy bitcoin via a third-party provider, and then have those coins transferred to the broker as a deposit.

Once you sign up with BluewaveFX and the bitcoin deposit has been made, it’s time to start trading. For that, BluwaveFX offers the legendary MetaTrader 4 (MT4) platform, either in its standard downloadable version for Windows or as a web or mobile version.

The instruments that can be traded on MT4 via the broker include all of the most common trading instruments, with bonds and interest rates being two of the only things missing. Crypto, stocks, commodities, and single stocks from major American and European companies are all available, in addition to a large selection of forex pairs.

As nearly all forex brokers do, BluwaveFX also offers various account types depending on each trader’s needs. For this broker, there are five account types to choose from:
– Standard: Medium spreads and commissions from USD 7
– Pro: Low spreads and commissions from USD 8
– Var: Higher spreads and commission-free trading
– Mini: Special account with small lot sizes and USD 1 commissions
– Big: Larger lot sizes and USD 10 commissions

All of the account types give access to the same selection of more than 200 trading instruments, and the same 1:500 maximum leverage. Trading accounts with BluwaveFX can be opened in EUR, USD, GBP, CAD, AUD, or BTC, depending on each client’s own preference.

As nearly all forex brokers do, BluwaveFX offers customer service via a live chat option on its website as well as a call-back option. Unfortunately, however, there is no direct phone number to the broker provided anywhere, which could make it difficult to reach in urgent situations. Still, this broker promises that support is available whenever markets are open - meaning 24/5 - which at least gives some reassurance that support will be available when needed the most.

In conclusion, Bluewave is similar to many other offshore-based forex brokers, in particular those that have embraced bitcoin in order to get around the whole problem with banking and traditional financial services. Bitcoin funding of trading accounts also offers increased privacy, which may be important to some users.

All in all, we think Bluwave is a broker to keep an eye on, especially for bitcoin holders who are looking for a way to leverage their digital assets in the traditional financial markets with forex & CFD trading. After all, this also represents an opportunity to earn more bitcoins, which is a goal many crypto fans are working towards.

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