Contents
BluFX Review
GET YOUR INSTANT $50,000 ACCOUNT NOW
Overview
BluFX offers instant funding of up to $100,000 for forex traders, loose trading parameters, and simple rules. A current 10th anniversary promotion makes this a great time to join more than 20,000 other funded traders at one of the most popular prop firms in the world.
I currently rank BluFX as one of best prop firm for trading forex.
With the forex industry offering such large leverage, it can attract a lot of newer traders with much less trading capital. Growing trading capital enough to earn a living in the markets, or trade full time, can be a lengthy experience and most traders will never manage to do so.
BluFX world’s leading prop firms, offering a subscription model in return for instant account funding, unlike any other prop firm in the market.
BluFX is a leader in its space with their instant funding model that requires no challenge or trading history. It is as simple as signing up, paying your fee of $99 for a $10,000 Lite Account up to $1,099 for the $100,000 Pro Account. They also have Islamic Shia Compliant Accounts.
BluFX clearly takes all traders into account, they have a strong support team with a large interactive community. Withdrawals are done every 5% weekly. They have very relaxed trading requirements and a 50-50 profit split, making BluFX a perfect choice for traders seeking instant funding with no challenges and no demo accounts.
BluFX works a lot like any prop firm that offers funded accounts, although BluFX tends to keep things much simpler than most of their competitors. Most prop firms make things so complicated that this is usually one of the longest sections of my reviews, but with BluFX, the explanation is simple.
Sign up, and choose an account size between $10,000 up to $100,000. Make the first of your monthly subscription payments and send the necessary documentation. In as little as a few hours (although more realistically a few days, depending on how long it takes to verify your documents) BluFX will send you the log in on the ctrader trading platform for a funded account with $25,000 or $50,000. Start trading.
Whatever profits you make will be split 50/50 with BluFX. After you’ve made more than 5%, you can start to withdraw your share of your profits. Or you can keep your profits in the account and trade them as well. If you have a Pro Account, after you’ve gained more than 10%, BluFX will give you more capital to trade. Keep making money, and they’ll keep giving you more.
The best traders will be promoted all the way up to fund manager and be given $1 million worth of capital.
If you lose money, you have no personal liability. BluFX covers your losses. If you lose more than 10% of your initial balance, however, your account will be terminated. If you keep the account open, you pay a monthly fee to continue trading BluFX’s capital.
BluFx offer 2 different account sizes to traders, which are paid for with a small monthly subscription. This means that you do not need to pass any challenges to get funded, making this capital more accessible to newer forex traders.
The first sized funding offered is $25,000. To obtain $25,000 of funding will cost you £99 per month, which can be cancelled whenever you wish. The funding is also instant from this prop firm, meaning you will get account details sent through to you and be up, ready to trade within a few hours. This funding does come with a fair number of rules and regulations that you need to abide by, which are consistent with other prop firms such as FTMO.
The second size of funding offered is $50,000. This package comes with all the same rules as the $25,000 account, however BluFx charge $249 per month for this amount of funding. The Pro account also comes with an account growth feature, which will be very interesting for profitable traders.
Essentially, every time you hit 5% growth on your account, you are eligible for a payout. However, when you hit 10% growth, BluFx will double your trading capital for the same amount of money per month, meaning you can in theory work yourself up to trading £1M in capital, much like with 5%ers.
These are the rules that come with the trading capital offered on the Lite and Pro accounts. Trading is done through MT4Opens in a new tab., which is common of most prop firms, and they offer a 50-50 profit split. If we look at other firms in the industry, this is common with only FTMO beating that with a 70-30 split.
The allowed drawdown is capped at 10% and you are paid monthly on any trading profits, once 5% gain is reached.
What is important to consider is the fact that the leverage offered is low, as you can see by the buying power that BluFx offer. This may make it hard for a lot of traders to reach consistently hitting that 5% monthly milestone. For instance, traders with a very small $1000 deposit on their personal account, using a broker like IC Markets, offering 1:500 leverage will still have more buying power than someone using an account offered by BluFx.
With, leverage isn’t always the best idea for newer traders and a smaller amount of buying power is more likely to keep you from taking large losses. If you don’t understand leverage, have a read of this article to understand more.
BluFX is different from most industry-leading prop firms due to having instant funding with two various growth features. Unlike most firms, BluFX doesn’t have a one-time fee for their accounts but has a fixed monthly subscription fee that every client is obliged to pay depending on the account they choose. Another significant difference is that they offer real accounts, not demo accounts.
Compared to other prop firms, BluFX also offers a low 3:1 leverage and a profit target of 10% to scale up your PRO packages, or Swap-free PRO accounts up to $1,000,000. Comparing that to other firms that have 2 Phase Evaluation Processes like FTMO, My Forex Funds, and True Forex Funds, this makes it less difficult to achieve successfully and start getting weekly withdrawals.
Another difference from most prop firms is that you can request your payouts weekly if you have hit the 5% withdrawal target, which means every seven days with a profit split of 50%.
In conclusion, many different strategies can acquire funding from BluFX, but you are required to consider their rules and the fact that you have to pay a monthly subscription fee depending on the account that you choose.
For years, BluFX has operated on a subscription basis. Every month you’re trading with BluFX, you’re responsible for their monthly subscription fee. That’s a common fee structure in the prop trading world, and one that has served BluFX and their traders well for 10 years now.
As part of their anniversary, however, BluFX has added a limited-time account option that allows you to immediately trade real funds after paying a one-time fee. These accounts won’t be around for long, so if you love BluFX but hate monthly fees, this is the time to sign up. Just visit the “Anniversary” tab on their site.
BluFX offers two instant funding packages with standard swap accounts along with Islamic swap-free account versions (at a slight premium)
BluFX has two great direct funding packages. However, the lite package has limited trading hours, and is a non-scalable package. For traders that are serious about their trading, it is recommended they go with the Pro account to ensure there are no strings attached. Both of their account options incur a recurring monthly fee to maintain the direct funding.
BluFx offers their same great trading accounts but in a Sharia-compliant Islamic swap-free versions. Both of their account options incur a recurring
It’s essential to see how realistic the trading requirements are when looking at prop firms that best suit your forex trading style. For example, a company offering a high % profit split on a highly funded account sounds great, but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.
After considering all of that, BluFX is a great choice to get funded with. Since you get instant funding with no evaluation phases, you can scale your PRO account types up to $1,000,000.
The rules of the scaling process are simple. You have a Rapid and a Steady growth feature in which you need to complete four stages for Rapid and six stages for Steady to get a balance of $1,000,000. You must respect the 10% maximum drawdown rule while also trading overnight. After getting to the $1,000,000 mark, you become a fund manager and can withdraw your funds every time you reach a profit of 5% while also trading over the weekends.
- Instant funding — Instantly receive up to $100K in trading capital without any evaluation or demo account.
- Simple trading parameters — No complicated calculations. Just don’t lose more than 10% of your initial account balance. That’s the only rule.
- Loose trading parameters — Not only are the rules simple, they’re also very trader friendly. The 10% max loss is one of the best in the industry.
- Rapid account growth — Grow a $50K account to a $1 million account in just four stages by hitting 10% profit objective.
- Weekly profit withdrawal — Unlike some firms that make withdrawing profits a chore, BluFX lets you withdraw once a week.
- Trustworthy — BluFX has been in the industry for 10 years and funded more than 20,000 traders. As legitimate as they come.
- Simple swap-free account signup — No extra emails needed. Simply select the swap-free option for either the Pro or Lite Account.
- Forex only — If you want to trade any other markets, you’ll have to find another prop firm.
- Monthly fees — BluFX charges a monthly subscription for most accounts. Some traders prefer one-time fees, although the one-time fees for other instantly funded accounts are quite high. (See the 5%ers.)
- Low leverage — BluFX only provides 3:1 leverage, which doesn’t give a great deal of buying power.
BluFX has such a good reputation that it’s hard to find bad press. A lot of prop trading firms have former traders expressing their bad experiences. Not BluFX. BluFX is well loved for their trading support, simple trading requirements, weekly payouts, and more. It is one of the best prop firms in the world. Their affordable rates make this the ideal time for forex traders to experience the instant funding, great trading parameters, quick scaling, and easy payouts for which BluFX is famous.
ABOUT THE AUTHOR
Romain is an independent trader and investor specializing in financial market analysis and trading systems. He worked as a professional long/short equity trader for a trading firm in New York and has a passion for building mechanical trading strategies. He has been in the industry since 2008.
DISCLAIMER
This post expresses the opinions of the writer and is for information, entertainment purposes only. Romain is not a registered financial advisor or certified analyst. The reader agrees to assume all risk resulting from the application of any of the information provided. Past performance is not a reliable indicator of future returns and financial trading is full of risk.) Please read the Full Disclaimer