Compare brokers side by side
Compare legal entities, evidence and account features. Choose any two researched profiles.
| What to compare | CFIProfile & sources → | BullwavesProfile & sources → |
|---|---|---|
| Legal entity | CFI Financial Markets LLC | Equitex Capital Limited |
| Service scope | UAE trading entity | Overseas entity |
| Reported regulator | CMA | Seychelles FSA · broker disclosure |
| Licence reference | 20200000154 (Category 1) | SD185 |
| Licence evidence | Broker disclosure | Broker disclosure |
| Published platforms | CFI app | MT5 |
| Minimum deposit | — | US$100 |
| Max advertised leverage | — | 1:500 |
| Advertised spread from | — | 1.6 pips |
| Swap-free account | — | Swap-free option published; a daily administration fee applies after an instrument-specific grace period |
| Live-account testing | Not performed | Not performed |
How to interpret the difference
CFI
CFI’s UAE regulatory page names CFI Financial Markets LLC and licence 20200000154. Its disclosure describes international-market brokerage and OTC derivatives/spot-forex trading permissions. Check the licence record and the agreement for the particular product rather than rely on the group’s licences in other countries.
CFI publishes separate trading and investing pages. When considering stock exposure, establish whether the account gives you an underlying security or a derivative, who holds the asset and which market fees apply. These are different questions from whether the interface is convenient.
Check the sources and limitations →Bullwaves
The bullwaves.com legal disclosure names Equitex Capital Limited and Seychelles FSA licence SD185. This profile concerns that website and entity. It does not establish a UAE licence or extend another regulator’s protections to a UAE resident.
The site advertises a Classic account from US$100 and different starting spreads for Classic, VIP and ECN accounts. Those are advertised thresholds, not measured trading costs. Request a current fee schedule, contracting entity and written eligibility confirmation before using these figures for a decision.
Check the sources and limitations →