BluFX Review

Because the forex market offers such high leverage, it can draw many newer traders with significantly lower trading money. It can take a while to build up trading money to the point where you can truly make a living from the forex markets or trade full-time, and most traders will never succeed in doing so.

Prop firms step in at this point to provide capital for forex traders in exchange for a cut of the earnings One of the top prop firms in the world, BluFX offers a subscription model in exchange for immediate account financing, which sets it apart from other prop firms on the market.

In this BluFX Review, I will take a look at what it is, how it works along with the pros and cons. Hopefully this can help you to decide if this is the right funded trading program for you. Now without further ado, let’s get right to it!

Who are BluFX?

BluFx, a forex prop firm founded in 2015, has attracted a lot of interest from the sector in recent months. Yu Song is the owner of the business, according to the website. He outlines the journey he underwent while learning to trade as well as the adventure he underwent when expanding the business.

Instead of having to complete a skill-based challenge as you would with FTMO, BluFx gives huge accounts to forex traders in exchange for a monthly subscription. Because of this, they stand out from the competition and have received a lot of support from the internet community. You can choose between two distinct account sizes offered by BluFx at the moment: $25,000 and $50,000.

BluFX Homepage
BluFX Homepage

How does BluFX work?

Although BluFX tends to make things simpler than most of its rivals, it functions very similarly to any prop firm that offers funded accounts. This is typically one of the longer sections of my reviews because most prop companies make things so convoluted, but with BluFX, the explanation is straightforward.

Choose an account size between $10,000 and $100,000 when you sign up. Send the required paperwork and the first of your monthly subscription payments. BluFX will offer you the login information for the cTrader trading platform for a funded account with $25,000 or $50,000 in as little as a few hours (although more realistically, a few days, depending on how long it takes to validate your documentation). begin trading.

BluFX and you will split any earnings equally. You can start taking out your portion of the profits once you’ve earned more than 5%. Alternately, you might maintain your gains in the account and continue to trade. If you have a Pro Account, BluFX will increase your trading capital if you’ve made more than 10%. They’ll give you extra if you keep earning money.

The top traders will advance all the way to fund management positions and get $1 million in capital.

You are not held personally liable if you lose money. BluFX will pay for your losses. But your account will be closed if you lose more than 10% of your starting sum. You must continue to pay a monthly charge as long as the account is open in order to trade BluFX’s funds.

There are just a few minor differences in the maximum trade size and the trading hours if you selected the Lite Account, though.

Who is BluFX for?

BluFX will get you trading as quickly as any prop firm in the globe if forex trading is your area of expertise and you desire a funded account with up to $50K in trading capital. No evaluation or demo accounts are available. After your identification has been confirmed and your initial payment has been completed, you can start trading on a real account with real money in a real market.

The majority of traders who join BluFX do so because they enjoy how quickly their accounts are financed, but BluFX is also the best option for traders seeking a long-term relationship. BluFX promotes experienced traders swiftly; a trader with a Pro Account can become a fund manager with $1 million in capital in just four steps.

Additionally, BluFX is perfect for folks who value simplicity. The single trading parameter is a 10% maximum drawdown. Daily loss caps or challenging trailing drawdown computations are not a concern. Simply keep your losses to 10% or less of your starting balance. Unlike most prop firms, BluFX keeps traders in the game and provides them more of an opportunity to demonstrate their skills.

Finally, BluFX is a good option to start if you have trading experience and are familiar with trading platforms but have not yet had a paid account. They rank among the most well-known and reliable prop companies in the world.

Who should not use BluFX?

Before registering with BluFX, if you’re a beginner trader who is still learning the basics of forex trading, you should think about a prop firm with more educational tools or continue your own education using a forex demo account.

BluFX does not provide any form of entry-level instruction for novice traders, while having a competent trading support crew to help you with any issues you may run across. Learn about the forex market before registering with BluFX.

How to get funded by BluFX?

Prop traders can choose between two different account sizes at BluFX, which are available for a nominal monthly subscription fee. This makes this financing more accessible to less experienced forex traders because no obstacles must be overcome in order to receive funding.

The initial amount granted is $25,000 in funding. It will cost you £99 every month to get $25,000 in funding, and you can cancel at any time. This prop firm’s funding is likewise immediate, so you’ll receive your account information right away and be set up and prepared to trade within a few hours. As with other prop firms, this funding comes come with a good number of laws and regulations that you must follow.

$50,000 is the second amount of funding that is provided. All of the regulations for this package are identical to those for the $25,000 account; however, BluFX charges £249 per month for this amount of financing. Profitable traders will find the account growth option in the Pro account to be highly intriguing.

In essence, you become qualified for a dividend each time your account grows by 5%. However, BluFX will double your trading capital for the same amount of money per month when you reach 10% growth, so you could theoretically build yourself up to trading £1M in capital.

The trading capital provided on the Lite and Pro accounts is subject to the aforementioned regulations. The majority of prop firms use MT4 for trading, and typically offer a 50-50 profit split. This is rather typical when compared to other companies in the industry, with only FTMO outperforming it with a 70–30 split. Once you hit a 5% gain, you start receiving monthly payments on any trading winnings with a 10% drawdown cap.

It’s crucial to keep in mind that the leverage provided is relatively low, as evidenced by the buying power BluFX truly provides. Many traders may find it challenging to continuously attain the 5% monthly milestone as a result of this. For instance, traders using a broker like IC Markets with a relatively tiny $1000 deposit on their personal account offering 1:500 leverage will still be able to purchase more than someone utilising a BluFX account.

With that stated, using leverage isn’t usually a good option for beginning traders, and having less buying power will probably prevent you from suffering significant losses. Read my article on forex leverage to learn more about leverage if you don’t already know what it is.

Can anyone get a BluFX funded account?

BluFx funding is quite simple to obtain. There is no challenge or verification model, therefore you can get funded right away. Being instantaneously funded with a $50,000 account has advantages and disadvantages, of course, but overall, it’s lot simpler and you could be making money sooner than you would at some other prop firms.

With BluFx, you can actually begin trading right now. Obtaining funds typically takes traders 1-2 months, and if the markets don’t react well to your plans in the final few weeks of the challenge, it could all be for nothing.

Instant funding has one main drawback: it puts new traders on funded accounts even when they aren’t yet profitable or ready for it. The problem with it is that the unsuccessful traders, who wouldn’t have won a challenge in the first place, are currently out of control on a $50,000 account and will probably blow the account in a few hours.

Conclusion: is BluFX a good prop trading firm?

In conclusion, BluFX is a trustworthy proprietary trading company that gives traders the option to select between Standard subscription and Swap-free subscription packages for rapid funding.

Both forms of immediate funding programmes are actually direct funding programmes that let you trade with a funded account and earn weekly profit splits without waiting for the evaluation period to end. However, keep in mind that for both types of instant funding programmes, your profit targets for withdrawal and scaling are 5% and 10%, respectively.

You can scale your accounts and receive 50% profit splits through rapid funding options. However, for both subscription kinds, you can only grow your PRO and Super PRO package accounts. It should be noted that the price and the absence of swap fees on market rollovers are the sole features distinguishing the subscription package from the swap-free subscription package instant financing programme accounts.

To anyone seeking for a prop company with immediate funding schemes, I would suggest having a look at BluFX. They are a respected proprietary trading company that offers excellent terms to traders around. After taking into account all BluFX has to offer, it is clear that they are a popular choice for anyone searching for a quick funding programme to trade on.

BluFX

$99
7.8

Features

8.0/10

Challenges

7.5/10

Value

8.0/10

Pros

  • Instant account funding
  • Simple trading parameters
  • No performance challenge
  • Overnight trading allowed
  • Weekly profit withdrawal
  • Account growth feature
  • $1M maximum capital allocation

Cons

  • Limited trading instruments
  • Maximum position sizes
  • Restricted leverage
  • Ongoing monthly fees
  • 50/50 profit split