Rinse the fish fillets, shrimp, and squid under cold water and pat dry with paper towels. Set aside.
In a large pot, heat the olive oil over medium heat.
Add the sliced onion and minced garlic. Sauté until the onion is translucent, about 5 minutes.
Add the sliced green and red bell peppers and cook for another 3-4 minutes.
Stir in the chopped tomatoes, bay leaf, paprika, and ground cumin. Cook for another 5 minutes until the tomatoes begin to break down.
Pour in the fish stock or water and white wine. Bring to a simmer.
Add the fish fillets, shrimp, and squid to the pot. Simmer gently for about 10-15 minutes, or until the seafood is cooked through and tender. Avoid overcooking to prevent the seafood from becoming tough.
Season with salt and black pepper to taste. Adjust seasoning as needed.
Garnish with fresh chopped cilantro or parsley.
Enjoy your meal!