BLU FX PROP FIRM REVIEW
Blufx is one of the most popular prop firms in the online prop forex market business. With headquarters in London, their major goal is to help traders from all countries by simplifying forex trading.
This post contains an unbiased review of Blu Fx prop firm, why you should trade with them, as well as examine what traders have to say about them on two platforms renown for their objectivity, Trustpilot and Forex Peace Army.
- Location: London
- Year of Establishment/ in Operation: 2015 / 7years
- Licenses and Registration: No
- Number of verified traders: 30,000
- Amount of $ payouts : Not specified
- Trading Platform: META 4 & 5
BluFx Overview
Blufx is one of the elite prop companies in the industry. To their credit, Blu Fx estimates that they currently have over 30,000 traders, over 20,000 of whom have received funding, and are still open to recruiting more diligent, skilled and qualified traders to handle more of their accounts with the handsome offer of up to $1,000,000 trading capital and instant funding.
Although the company is not licensed, BluFx uses Eternity Global Limited as its broker and has retained and maintained a viable relevance in the prop market since it started operation in 2015 up till date.
Read more about who Blu Fx are and what they do here…
Blufx Packages
In contrast to many other prop organizations, Blu Fx offers two instant funding packages that allow traders to start trading on a live account immediately: The Lite Package and The Pro Package, each of which attracts a relatively cheap monthly subscription.
The Lite Package is billed at £99 per month, with a $25,000 funding capital, a $1250 withdrawal target, a $2,500 max drawdown, and a 50-50 profit split.
The Pro Package is billed at £99 per month, with a $50,000 funding capital, a $2,500 withdrawal target, $5,000 max drawdown, and a 50-50 profit split.
Leverage
BluFx provides traders with a profit-aiding platform and a low 1:3 leverage accompanied by low drawdowns on both of their accounts.
Trading Limitations
- Hedging is highly prohibited.
- For the Lite account, the trading hours are 6:00-21:00UTC Monday – Friday while traders operating the Pro account are able to trade 24 hours Monday-Friday.
- Traders must not exceed the stipulated drawdowns on all accounts.
What makes Blufx different from other Prop Firms
A lot of the prop firms in the market offer duplicate programs under different names. However, quite a number of things singles BluFx out form the mix:
- BluFx offers instant funding packages at cheaper monthly subscription rates with zero need for demo accounts. Click here for other No Evaluation prop firms
- Traders can request for payouts on a weekly basis
- Trading Support is not prohibited.
- Trading positions can be carried over night.
Does BluFx Allow EA and CopyTrader?
Yes, BluFx allows traders to use EA but on the condition that they obtain the company’s consent first. However, the use of Copy Trader is highly prohibited.
READ: Prop firms that allow copy Trading
BluFx Scaling Plan
BluFx offers two scaling plan for their customers: The Rapid Growth Plan and The Steady Growth Plan with clearly communicated requirements to sail on any of the plans.
While the Rapid growth requires that a trader maintains the 10% profit target without withdrawing it to scale on the rapid note. a trader who prefers a steady growth plan is required to withdraw 5% of the profit and leave the remaining 5% to scale to a higher account.
It is important to note that traders can also withdraw the whole of their profit percentage. However, they require a 5% to scale to a higher account.
Blufx Education
BluFx runs an active chat service on their website that promptly responds to any queries. Additionally, they provide a blogging service where they offer productivity suggestions and more in-depth descriptions of how they operate. You can access their blog by clicking here
Trading Instrument
BluFx majorly trades currencies and gold. Traders are allowed to trade any of these currencies as pairs: CHF, USD, GBP, EUR, JPY, CAD, AUD, NZD, XAU.
READ: FTMO Vs 5ERS – The Ultimate Comparison
Trading Platform
Blufx carries out their trading operation on CTrader which is quite different from Meta 4 and Meta 5 which a lot of other Prop Firms use.
Is Blufx A Scam Prop Firm?
Given their really large trader community and flurry of reviews and reactions from their traders on popular company review platforms, Trustpilot and Forex Peace Academy, which I’ll get to in a bit, one thing is certain for sure, and that is the fact that Blufx is a genuine prop firm.
Reviews: What Are Traders Saying?
Several traders have fallen victim of scam prop firms who have now invaded the blooming prop market. It is then important that a trader diligently research the genuineness of a prop firm before trading with them. One of the best ways of making such research is by reading up on the reviews given by other traders who have traded with them. One of the best places to get such factual reviews is a website or forum that is operated by an independent party that cannot be directly influenced by the firm in question.
In the prop market industry, Trustpilot and Forex Peace Academy are two such websites where traders offer objective first-hand reviews about prop firms. Below are their reviews on from Trust pilot:
Blu Fx Review on Trust Pilot
Mario
1 review CA
17 hours ago
Invited
A very good and legit company
A very good and legit company. Customer support is very good and they reply fast. I’ve withdrawn twice from them since I started in July. All you need to do is just follow the rules. They are not heartless like some other companies, you’re fined if you break certain rules, they don’t take the account immediately. You also have the option to refinance if you loose too much funds above the drawdown limit. Overall it’s a good investment.
Kehba Banhoro
2 reviews CI
20 hours ago
Invited
It legit and got m’y payout Last week
It legit and got m’y payout Last week
Thanks blufx
Morteza
1 review UA
21 hours ago
Invited
Blu fx the best prop firm
Hello everyone, I am one of BlueFX traders, I sent a message to thank BlueFX for the working conditions that it has provided without geographical restrictions..
When I reached the profit target of my account, at first I had some problems to prove my residence address and pay my profit to the Perfect Money account with Blue FX.
But after receiving guidance and solving problems,
My interest payment of $625 was made on the specified date.
Shinu
2 reviews IN
3 days ago
Invited
Believe in Blufx???
Zhenya
1 review BY
4 days ago
I like their subscription model
I like their subscription model. Refinancing is a great feature. I don’t know how they manage their risks. Are there live accounts in cTrader? But anyway, the fact is that I received 3 payouts from BluFx in almost 3 months. So for now I’m happy with BluFx. But why so many negative reviews? I give 5 stars today. But I will change my mind if I have problems with them.
Olaogun Abel
2 reviews NG
5 days ago
Blufx is a scam, stay away from them
You’re not a scam for real?? Blufx must be mad for saying this, Are you the one to say you’re not a scam or your clients??…..
This is my first time of trading with you and my conscience is very clean?? I have been following the rules since I started trading the account and when it’s my turn to withdraw, you closed my account without any proof of copy trades …….. You’re Mad blufx, may God punish you
Guys stay away from them, when I log the complain to there telegram group, they deleted my comments and removed me from the group, and that’s how they have been doing to everybody, be wise??
Mizan
2 reviews BD
6 days agoBlufx is 100% scam now
Blufx is 100% scam now.
At first they were denying payouts by sending same copied msg and now they are replying negetive reviews by same reply. how funny! Blufx u wont get away with peoples hard earned money! keep that in mind. u r saying u have proof,but u r not replying to any mails and showing them proof. u wont get away with it. Scam!
Blu Fx Review on Forex Peace Academy.
For an even more objective view of what traders are saying about their first-hand experiences from trading with BluFx, we examined another review platform as we head over to Forex Peace Academy for more reviews.
theoakubo
The offices of BluFX in Port Harcourt, Nigeria,
Jun 26, 2020,
Registered user
Payout Came Quicker than Expected (not surprising since I work for the company)
Service use: Live Length of use: 0-3 Months
I asked to be paid by bank wire transfer and it’s usually the longest payment processing method and takes days. To my surprise I got my pay on the 25th by 9am. I was so happy as it was my first payment from using their services.
Awka, Nigeria,
Mar 23, 2022,
Guest
They are interested in subscription fee
Service use: Live Length of use: 0-3 Months
Blufx may not be scammers but they are unethical.
Leverage is 1:3
Trading hours limited.
Limited markets.
Time frame Manipulation.
Their tight conditions as disguise for good T&C will make sure that you keep subscribing to meet your target because its not doable in one month except by sheer luck and 2 months, sometimes 3months.
You shouldn’t trade every day, but because you are on a deadline, you tend to force trades. And you barely have time for trades as you trade only London time,
The market is flooded with economic news that you may want to stay away from, so if you decide look at minor pairs or stocks or commodities during these periods, they don’t have it and you are supposed to meet target.
We know that Mt4 is an hour ahead in Nigeria, but then sometimes you see a candle already printing 2 hours ahead. I don’t know what that is. 4hrs candle prints at 16:00 which is normally 3pm Nigerian time, but by 2pm, a 16:00 candle was already forming today. Noticed this for sometime now.
I think this is just a pyramid scheme. And it’s a demo account we are likely trading. They are interested in our subscription money that they maybe use to fund their own accounts and pay people that meet up their demo targets.
Conclusion
In conclusion, BluFx is not a scam and is a very real possibility for boosting the size of your trading account in the forex market. They have established themselves as a trustworthy, genuine online prop firm by providing finance for newer traders without access to significant amounts of capital.
