BluFX Review

This is a BluFX review of a prop firm based in London, UK offering its own take on funded trading accounts for its clients. Established in 2015, they boast a no evaluation, straight to instant funding account option. However, this particular prop firm is different from most available as instead of a one off fee they charge a monthly subscription for their services, which appear to include four different options each offering a 50/50 profit split.

3.5/5
BluFX Review

Advantages

  • Maximum capital of up to $1,000,000
  • Overnight holding for all traders
  • Weekend holding for Fund managers
  • Loyalty benefits

Disadvantages

  • Very low leverage of 1:3
  • Only 50/50 proflit split
  • High monthly subscription cost

How does This prop Firm Work?

In order to get started with BluFX you would first need to register for an account in order to access your dashboard. You then select the package you want and pay for your first month’s subscription, fill in your billing details, ID and proof of address, then sign their agreement. It takes a couple of days for your account to be verified but as soon as it is, you download MT4 through their dashboard and you are ready to trade immediately.

Most prop firms would charge a one off fee for both an evaluation account and an instant funded account, however, BluFX do not have an evaluation stage, you can access funded trading straight away. The only difference here to most is the monthly subscription cost, which starts at £99 and ranges up to £329 for their highest package. They use a staging concept in order to scale up your account size, ultimately leading to becoming a $1,000,000 account fund manager.

The company, across all four of their options, have a 10% maximum drawdown, allow you to hold overnight positions and have a withdrawal profit target of just 5% which is relatively low in comparison with most prop firms. If the trader achieves 10% profit your account is then doubled. However, traders are only offered a 1:3 leverage, which is much lower than the majority of prop firms, who all offer around 1:10 on average.

How much Capital do they provide and what are their prices?

BluFX is a fully funded prop firm and offers two different packages; the Lite and the Pro. The Lite package starts at $25,000 and the Pro starts at $50,000. They have stages 1-4 whereby as you grow your account you can scale profit up to larger accounts, which appears to reach over $1,000,000.

Account costs:

Subscription Account:

$25,000 account costs £99

$50,000 account costs £249

Swap-Free Account:

$25,000 account costs £139

$50,000 account costs £329

Are They legit?

BluFX have been established and trading for 7 years, they have official business accounts on platforms like LinkedIn and social media accounts on Facebook, Instagram and Twitter. They also have publicly available reviews on Trustpilot boasting a 77% excellency rate. From this we can deduce that BluFX is a legitimate company.

What platform do they use?

BlueFX uses the industry standard platform and trades with MT4.

What markets can be traded?

BluFX offers traders the chance to trade 29 major and minor currency pairs, as well as gold on their platform.

Do They Trade Crypto?

BluFX are partnered with Eternity Global Limited and state on their FAQ and blog section that their charges for commission and spreads differ based on each trade. They offer more information via an article on their blog which you can find on their website.

How much does the company charge as commission and spread?​

Currently, BluFX does not appear to trade crypto at this time.

What are Their Withdrawal Options?

Like most prop firms, with BluFX it is required that you hit a particular percentage of the funded account before withdrawals can be initiated. Requests for withdrawal can be made whenever the account balance reaches 5% profit of the account size you purchase. Once this is met you can now proceed to request for withdrawal which is weekly, as boasted on the BluFX website!

Do they provide education and training?

BluFX offers traders the chance to trade 29 major and minor currency pairs, as well as gold on their platform.

Do they have Support and Contact options?

BluFx offers a live chat service on their website stating a reply in minutes. They also have a support email address. The live chat appears to close over the weekend however queries are then sent as emails and would be responded to the following Monday.

What makes them unique?

The first thing that makes BluFX stand out from most prop firms is that they do not require an evaluation or assessment for anyone to gain access to a funded trading account. Owner Yu Son wanted “A platform where everyone is equal and can compete on the same basis regardless of background or wealth.” So for a much smaller fee, anyone can gain access to funds and have zero loss liability trading in the live markets.

The second unique feature for BluFX is that while most prop firms have a one off fee, this company does a smaller monthly subscription cost starting at £99 which ranges up to £329 per month on their higher package.

Another talking point for Blufx is their profit split; as mentioned earlier, their rate is 50/50. This is quite low for the industry, as most offer between 70-80%, however perhaps the fact that clients wouldn’t need to pass an evaluation through a demo account is their reasoning for that.

If you want to find out more, or sign up to BluFX you can do that here.