BluFX Review – Rules, Pros, Cons & PromosTable of Contents
Update: the BluFX prop firm has ceased operations
| UPDATE: March, 2023. An announcement posted on BluFX’s Discord channel stated that all BluFX accounts would be closed due to their ongoing issues with regulators. For those of you looking for alternatives, please see my favorite prop firms for 2024 or favorite forex prop firms. |
Prop firm comparison site:
If you are looking for a prop firm that won’t let you down, I suggest Prop Firm Match. I don’t always agree with their favorite firms, but I do think their comparison tool is the best in the business. Here’s a screenshot below, click to find your ideal prop firm:
What happened to BluFX?
Significant problems with the UK’s Financial Conduct Authority (FCA), liquidity provider issues, and more led BluFX to close all trader accounts. They are technically not out of business, as they hope to restructure and return, but they have ceased all trading operations for the immediate future.
I go into far more details in my article about BluFX’s demise if you want to learn more, but obviously you should not sign up with BluFX at this time.
I am keeping the rest of my BluFX review online below since I think it still has a lot of valuable information, so continue reading if you’d like, but I’ve removed any links to the BluFX website.
Overview
BluFX was popular because they offered instant funding of up to $100,000 for forex traders, loose trading parameters, and incredibly simple rules. It was once one of the most popular prop firms in the world.
Pros – why I liked BluFx
- 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.
Cons – Why BluFx ultimately failed
- Competition: Although BluFx was around for a long time, the explosion of prop firms in 2023 provided a level of competition that they weren’t prepared for.
- Monthly fees — BluFX charged a monthly subscription for most accounts, all the new firms offered one-time fees.
- Low leverage — BluFX only provided 3:1 leverage, which didn’t give a great deal of buying power compared to the 100:1 offered at other prop firms.
- US Traders — As of December 9, 2022, BluFX was no longer available to US traders, which resulted in a significant loss of income.
- Liquidity provider – Had significant issues with a liquidity provider in mid-December, 2022, which resulted in traders being unable to trade for more than three weeks. Once the issue was resolved, they had already lost a significant number of clients
- Profit split – BluFX only gave out 50% of earnings, which is one of the reasons I thought they were built to last. Again though, that couldn’t compete with firms offering 90%.
BluFX funded trader program highlights
- No evaluation!
- Up to $100K instant funding
- 50/50 profit split
- 10% maximum drawdown
- No daily loss limits
- Meet 10% profit goal to scale Pro Accounts up to $1 million
- Withdraw profits every week
- Trade gold, plus 29 major & minor currency pairs
Who should sign up with BluFX?
No one should sign up with BluFX at this time, as they’ve ceased operations.
They were very appealing for the following reasons, however:
If forex trading was your specialty and you wanted a funded account with up to $50K in trading capital, BluFX would get you trading as fast as any prop firm in the world. There was no evaluation, no demo accounts. As soon as your identity is verified and you made your first payment, you’d be trading an account.
Most traders who signed up with BluFX did so because they love how quickly they get funded, but BluFX is also ideal for traders looking for a long term partnership. BluFX quickly promoted skilled traders, and in just four stages a trader with a Pro Account could become a fund manager with $1 million in capital.
BluFX was also ideal for those who value simplicity. There’s a 10% max drawdown, but that was the only trading parameter. You didn’t have to worry about daily loss limits or complicated trailing drawdowns calculations.
All things considered . . .
BluFX was one of the original no-evaluation founded trader models, and they lasted a long time in the industry and were beloved by traders. Of all the prop firms that failed, this was one of the biggest surprises to me.
BluFX Basics
BluFX origin story
BluFX was founded by Yu Song, who wanted to give the best traders access to capital regardless of their financial or socioeconomic backgrounds. His motives weren’t completely altruistic, of course. Many traders have obtained $1 million accounts with BluFX and have split their profits with the company every step of the way.
In the 10 years since Yu Song started BluFX they have funded more than 20,000 traders in 140 different countries. Traders funded by BluFX make $800 million worth of trades every single day.
How did BluFX work?
BluFX worked a lot like any prop firm that offers funded accounts, although BluFX tends to keep things much simpler than most of their competitors. These were there rules:
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. As long as you keep the account open, you pay a monthly fee to continue trading BluFX’s capital.
There are a few other nuances regarding maximum trade size and the available trading hours if you chose the Lite Account, but that’s pretty much it!
Can Americans trade with BluFX?
According to a sudden footnote that appeared on the BluFX website in December of 2022, BluFX is no longer accepting US traders. A customer service rep confirmed, blaming “US laws and regulations.”
That’s bad news for Americans as BluFX used to be one of my favorite prop firms, but here’s some good alternatives.
How much did BluFX cost?
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 pretty 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.
| Name | Instant Funding Account Size (Capital/Buying Power) | Monthly Fee | Monthly Fee w/ Promo |
| Mini Lite | $10,000/$30,000 | $99 | $94.05 |
| Lite | $25,000 / $75,000 | $159 | $143.10 |
| Pro | $50,000 / $150,000 | $369 | $313.65 |
| Super Pro | $100,000/$300,000 | $1,099 | $879.20 |
| Swap-Free Mini Lite | $10,000/$30,000 | $129 | $122.55 |
| Swap-Free Lite | $25,000 / $75,000 | $219 | $197.10 |
| Swap-Free Pro | $50,000 / $150,000 | $489 | $415.65 |
| Swap-Free Super Pro | $100,000/$300,000 | $1,239 | $991.20 |
| Name | Instant Funding Account Size (Capital/Buying Power) |
| Mini Lite | $10,000/$30,000 |
| Lite | $25,000 / $75,000 |
| Pro | $50,000 / $150,000 |
| Super Pro | $100,000/$300,000 |
| Swap-Free Mini Lite | $10,000/$30,000 |
| Swap-Free Lite | $25,000 / $75,000 |
| Swap-Free Pro | $50,000 / $150,000 |
| Swap-Free Super Pro | $100,000/$300,000 |
| Name | Monthly Fee |
| Mini Lite | $99 |
| Lite | $159 |
| Pro | $369 |
| Super Pro | $1,099 |
| Swap-Free Mini Lite | $129 |
| Swap-Free Lite | $219 |
| Swap-Free Pro | $489 |
| Swap-Free Super Pro | $1,239 |
| Name | Monthly Fee w/ Promo |
| Mini Lite | $94.05 |
| Lite | $143.10 |
| Pro | $313.65 |
| Super Pro | $879.20 |
| Swap-Free Mini Lite | $122.55 |
| Swap-Free Lite | $197.10 |
| Swap-Free Pro | $415.65 |
| Swap-Free Super Pro | $991.20 |
Anniversary One-Time Payment Accounts
| Name | Account Size (Capital/Buying Power) | One-Time Fee |
| Basic | $20,000 / $100,000 | $429 |
| Swap-Free | $20,000 / $100,000 | $549 |
My Assessment
I assess prop firms according to seven main criteria. I weigh each criteria evenly, but for you personally, some of these factors will be more important than others. For example, if you are looking at purchasing a Lite Account, the scaling opportunities at BluFX aren’t very relevant to you. So please, prioritize this list according to your personal requirements.
Profit splits – 7/10
Traders are never thrilled with the 50/50 profit split, but that is industry standard for companies that offer instantly funded accounts. Yes, other prop firms offer an 80% or more profit split, but you typically have to endure long evaluation periods with demo accounts in order to be eligible for such a generous profit split.
If you want real capital, immediately, a 50/50 profit split is as good as it gets.
Several prop firms have offered a higher profit split for instant funding, but it’s not a sustainable business model. DT4X is a prime example. They were briefly the darling of the prop trading world for offering a 60% profit split for instant funding. They didn’t last long and had to cease operations.
Scaling opportunities – 10/10
BluFX offers great scaling opportunities, particularly for those traders who keep trading any accrued capital rather than making withdrawals.
Like all BluFX trading rules, the scaling system is very simple. Pro Accounts start with $50,000. If you achieve 10% profits and keep your profits in your account, BluFX will double your initial capital. Do it again and they will double your account again to $200,000. Hit 10% just one more time and they will bump you all the way up to $1 million.
That’s right, $1 million in just four stages. I don’t think there’s another funded forex account out there that scales you that quick.
And if you do want to make withdrawals, they have a scaling plan for you too. You can join the Steady Growth program, take 5% out every time you hit your profit objective, and still reach the $1 million capital mark in only six stages.
Note that BluFX only offers scaling with their Pro Account, not the Lite Account.
Trade parameters/profit targets – 9/10
BluFX earns high marks in this section for the simplicity of their trading objectives. Securing a funded account at some prop firms is less about your trading ability and more a measure of your ability to understand the rules. Not so with BluFX.
BluFX traders have to be wary of one trading parameter: Don’t let your account dip more than 10% below the initial balance. Not too complicated!
The one limitation that irritates some traders is the somewhat limited trading hours with the Lite package. For traders who opt for the Lite Account, trading is only available 6 a.m.–9 p.m. London time on weekdays. Those with Pro Accounts don’t have to worry about trading hours. They can trade 24 hours a day, Monday–Friday.
BluFX also doesn’t allow EAs, copy, or robot trading at this time, but you can hold trades overnight.
Affordability/value – 9/10
BluFX is very affordable compared to other prop firms that offer instant funding accounts. The Lite package starts at just $99 per month, which is quite a bit cheaper than the one-time fee you’d pay at the 5%ers, for example.
Of course, since BluFX charges a monthly subscription fee, it can add up, particularly if you are languishing just below profitability for months at a time. In that scenario, it’s important to know when to cut your losses. But if you reach 5% and are making profit withdrawals, the monthly fees are a drop in the bucket.
Educational resources – 6/10
BluFX doesn’t offer the educational resources you can expect from other firms for beginners. They do have an excellent trader support team and a very active trading community that can help with risk management, but little in the way of very basic level forex trading education. If you’ve never even had a personal trading account, you should probably get a little more experience before jumping in with BluFX.
BluFX does have a YouTube channel and a blog, but both channels are chiefly used to show off the most recent traders to reach $1 million accounts and to discuss market trends with more experienced traders.
Tradable assets – 9/10
Forex traders are quite happy with BluFX’s selection of major and minor currency pairs. You can trade 29 in total. BluFX doesn’t offer trading products in any other markets, however. If you want to trade crypto, stocks, or any other financial instruments, FTMO or Fidelcrest offer many more options.
Trustworthiness – 0/10
I trusted BluFX for too long, and I do believe they gave their best efforts to stay afloat, but ultimately they failed due to regulatory and platform problems – the same issues that took out a number of other prop firms in the subsequent years.
My overall rating – 0/10
I loved the simple rules, the 10% max drawdown, the scaling opportunities, and of course the instant funding that BluFX offered. It is a shame I had to put that sentence in the past sense as BluFX is no longer trading.
What Others are Saying
TrustPilot
BluFX had a 4.4/5 rating on TrustPilot, which is more than good enough to receive an “excellent” rating. They had more than 950 reviews that gve credence to their great rating and WAS a testament to how many traders BluFX has funded.
Google Business
BluFX haD somehow managed a 4.4/5 on Google, which is a miraculously high score by Google standards. By way of comparison, the pub across the street from BluFX’s London office only has a 3.9. If you give your prop trading firm a higher score than a pint or two at your local pub, you’re pretty damn pleased with your prop firm.
The good reviews mention BluFX’s integrity and on-time payouts, while a few bad reviews criticized the company for not being responsive to queries on Instagram and other social media platforms.
Overall
BluFX has such a good reputation that it’s hard to find any really good dirt. A lot of prop trading firms have former traders foaming at the mouth to tell you about bad experiences. Not BluFX. BluFX was well loved for their trading support, simple trading requirements, weekly payouts, and more. Of course things got ugly in the end, but for awhile they were one of the best firms in the biz.
Frequently Asked Questions
Is BluFX legit?
Yes, it was. BluFX was as legit as they come. More than 20,000 traders over the last 10 years could verify that BluFX was for real. Unfortunately they had to cease operations in March of 2023.
What trading platform does BluFX use?
BluFX had platform problems, but eventually used cTrader.
Does BluFX offer discounts or promo codes?
No. They areout of business.
Can anyone join BluFX?
BluFX funded traders from more than 140 countries, and stated on their website that they had no geographic restrictions.
However, BluFX was one of the first prop firms to ban US traders. A customer service representative in the BluFX Discord channel confirmed the news and said that the reason for the sudden restriction is “US laws and regulations.”
That was a precursor of things to come, and BluFX was soon out of business.
Is BluFX regulated?
No. BluFX, like almost all prop firms, doesn’t really fall under regulation from any of the world’s large financial governing bodies. Prop firms, by definition, use their own capital. Since they are not raising funds from the general public or acting as forex brokers or dealers, they avoid regulation.
However, the UK’s Financial Conduct Authority (FCA) published a warning that BluFX might be “providing financial services or products in the UK without our authorisation.” This lead to issues with BluFX’s liquidity provider and ultimately lead to their demise.
RIP BluFX
Thanks for this platform I really appreciate all the scaling and parameters, can I trade from the Gambia and how get my money?
Hi John, happy you’ve found the site useful! BluFX has no country restrictions. Here is what they say: “We do not place restrictions on traders geographically. We have traders from every continent. It is up to the trader to make sure of compliance with local regulations”. You can find more information about their methods of payout on their FAQ page as well.
Happy trading!
How can I start without money to be part of your trading
Hi Daniel, I am a trader that reviews prop firms and do not work with BluFx myself. I just added an update to this post, however, explaining that now might not be a good time to join BluFx. Maybe look to one of these firms instead.
In general, however, prop firms charge you either a one-time or monthly fee and often make you complete a trading challenge in order to have access to their capital. For instance, most firms charge a one-time fee. So you would pay the prop firm around $150 and then prove that you are a good trader in a demo account by meeting profit targets and avoiding substantial risk. Once you’ve passed these challenges, the prop firm will give you money to trade. Any profits you make at that point will be split with prop firm, although you’ll keep as much as 90%. Other firms, like BluFX, charge you a monthly fee but give you immediate access to their cash. You can trade their money as long as you don’t lose too much or violate their trading parameters. With these instant funding prop firms, profits are usually split 50/50.
Good luck! Hope that helps!
Hi. I just joined with Blufx December 2022 and the system is unable to trade. Is there a way for me to cancel and get my money back?
Hi Manyane, apparently they’ve fixed the issues with their liquidity provider and everyone can trade again. I’m not sure if they are giving refunds for lost trading time, you’ll have to ask them directly.
I hope this works off to work will prove 2/20/2023
Good luck Anthony!
hello I am from Is uzbekisan
Hi! Welcome to my site. Hope you find it useful!