Compare brokers side by side
Compare legal entities, evidence and account features. Choose any two researched profiles.
| What to compare | PepperstoneProfile & sources → | BullwavesProfile & sources → |
|---|---|---|
| Legal entity | Pepperstone Financial Services (DIFC) Limited | Equitex Capital Limited |
| Service scope | UAE arranging entity | Overseas entity |
| Reported regulator | DFSA | Seychelles FSA · broker disclosure |
| Licence reference | F004356 · arranging deals | SD185 |
| Licence evidence | Regulator record | Broker disclosure |
| Published platforms | Pepperstone, MT4, MT5, TradingView, cTrader | MT5 |
| Minimum deposit | US$10 | 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
Pepperstone
Pepperstone’s UAE account pages distinguish Standard pricing from Razor pricing. Standard forex pricing includes a spread markup; Razor uses raw spreads plus commission. A comparison should use the same instrument, platform, trade size and holding period rather than a headline minimum spread.
The UAE platform page lists MT4, MT5, cTrader, TradingView and Pepperstone’s own platform. The account page says TradingView is available for Razor, while the Standard list omits it. It states a minimum funding amount of US$10 or local equivalent, rather than an obligation to fund an account.
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 →