Prop firm Bullwaves Prime has removed the cap on the size of a single payout and the even-profit rule. The rest of the programs' terms remain unchanged.
The payout cap is a limit on how much a trader can withdraw per one withdrawal cycle. The evenness rule ensures that profit is spread across days and trades rather than resting on one lucky entry.
Two things change for the trader. How much money leaves with a withdrawal request and which strategies pass selection in the challenge.
How much can be withdrawn now?
Before. From a single payout, a trader could withdraw a maximum of 6% of the starting balance.
- $6,000 per cycle - that is what the limit allowed on a $100,000 account.
- Profit above this amount stayed on the account and was unavailable in the same cycle.
- The clause has been removed entirely - the size of a withdrawal request is no longer cut by this rule.
Why was evenness removed?
The second change concerns selection. The evenness rule has been removed from the terms.
It prohibits a single day or a single trade from contributing too large a share of the challenge's total profit.
- Trade fitting. Such a clause forces you to keep profit distribution within bounds: closing a winning position earlier or adding extra volume.
- Large entries. Strategies with rare large trades now pass selection without this fitting.
What remains unchanged?
- Drawdown - the daily and overall limits have not changed.
- Trading days and news - the minimum number of days and restrictions on trading during news remain.
- Eligibility for [payout](/payouts) - the requirements for it are the same.
- 15 calendar days - the first payout is unavailable before this period.
- 80% - the profit share, with an upgrade to 100% available as a separate paid option.
- Up to $400,000 - accounts in challenges in one and two phases.
When do the changes take effect?
The company did not name a date. There is no separate document with the new edition publicly available.
- Personal account - the trader sees the current terms there.
Key point: withdrawal and selection have become freer, but drawdowns, trading days and payout eligibility have not been canceled by anyone.
The payout cap is noticed late
The limit on payout size is usually noticed on the day when there is already something to withdraw. At every prop firm this is a separate clause of the contract. A percentage of the starting balance, a minimum number of trading days, a ban on holding a position at the moment statistics are released. In the catalog, such clauses stand side by side and are compared by the numbers. Half an hour of checking now saves you from correspondence with support a month later.