Bulenox Review 2024
4.5/5

Bulenox Review 2024

This Bulenox Review 2024 details everything you need to know about Bulenox to help you decide if it could be the prop firm for you.

Bulenox Review 2024

Bulenox is a futures proprietary trading firm located in Wilmington, Delaware, USA. The prop firm was founded in 2022 by a group of experienced traders, and its popularity has grown rapidly ever since, owing to its very reasonable pricing and attractive number of account sizes catering to the needs of a wide range of traders. This Bulenox Review 2024 details everything you need to know about Bulenox to help you decide if it could be the prop firm for you.

It’s not an overstatement to say that Bulenox Funding is revolutionising the futures trading landscape. The firm does not require traders to put up any initial capital, making it accessible to traders whatever their resources. With the flexibility and autonomy for traders to trade however it suits then, a secure trading environment and an attractive compensation structure, Bulenox stands out as a highly progressive prop firm. Their staunch adherence to their rules and contractual obligations underscores the integrity and dependability of the firm.

On top of funding futures traders who complete the firm’s evaluation process, Bulenox also offers a reliable system for processing payouts and efficient customer support. They welcome all day traders, rewarding them with a substantial percentage of profits generated. The firm’s funding program is free from consistency rules and gives traders the ability to trade in Micro Bitcoin (MBT). By providing a clearly defined path for you to become a funded futures trader, Bulenox’s platform is a compelling option for traders looking to progress in their trading careers.

Evaluations

Bulenox Trading provides a wide range of funded trading programs, meaning the firm can accommodate the needs of traders with varying degrees of experience and appetite for risk. The emphasis on flexible trading conditions enables traders to adjust their strategies in response to evolving market trends. They are also committed to the development of their traders, with programs geared towards supporting traders and helping them to refine their skills and strategies.

Upon registering, traders have a choice of two options:

  1. No scaling, with a trailing drawdown
  2. Scaling plan, with an end-of-day drawdown

Opting for no scaling and a trailing drawdown is riskier but enables experienced traders with astute strategies to meet their profit targets faster.

Qualification Account: Pricing and Rules

Bulenox has a unique subscription model. A one-off fee is charged for the first month (depending on your chosen program).  The fee is subsequently reduced in the second month and remains the same thereafter. Traders can reset their account whenever they wish for a fee of $78.

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Upon signing a user agreement with Rithmic, traders need to select the correct status: either professional or non-professional. Once chosen, this status remains fixed and cannot be adjusted on either the Qualification Account or the Master Account. Do be aware that for professional traders, there is a compulsory monthly fee of $116 for the exchange data feed (CME, CBOT, NYMEX, COMEX). These fees are included in the Qualification Account for non-professional traders.

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Trading Days

There is a minimum requirement of five trading days for a trader to progress the Master Account.

Time
The trading day begins at 5.00pm (CST) and finishes at 4.00pm (CST) the next day. Weekends and holidays are excluded from trading days, and all positions have to be closed 15.59 (CST).

Maximum Position Size
The maximum position size varies with each account. Traders can hold multiple positions simultaneously.

Objective
The trader’s primary goal is to achieve a profit target in order to advance to the Master Account.

Trailing Drawdown
Ensure that the maximum drawdown limit is not exceeded on your account.

Position
Traders have the option to trade both standard and micro contracts simultaneously. One standard contract is equivalent to 10 micro contracts. 

OPTION 1: NO SCALING ACCOUNT (TRAILING DRAWDOWN)

  • The trailing drawdown is tied to the current balance, which is equal to your profit.
  • The drawdown is recorded in real-time during the trading day, including commissions.
  • A decrease in your balance does not alter the allowable drawdown.
  • Surpassing the allowable drawdown will result in the administrator blocking your account. If this happens, you can either reset your account or make a new one.

To give an example, if you have an account balance of $100,000 for 12 contracts with a maximum trailing drawdown of $3,000, the maximum you can lose is $3,000 from the peak profit point, including open positions. If the account balance falls to $97,000, the account will be blocked.

If your first trade of the day generates $800, the maximum, drawdown adjusts accordingly to

$97,800 ($100,800 – $3,000 = $97,800). If you have not yet closed the position and give back $300 in profit, resulting in a balance of $100,500 at closure, the maximum drawdown remains at $97,800. In other words, it will always adjust $3,000 from the peak account balance.

OPTION 2: EOD ACCOUNT (EOD / SCALING PLAN / DAILY LOSS LIMIT)

End of the day Drawdown (EOD)
EOD updates for the Qualification and Master Accounts occur at the close of each trading day. EOD considers profits made by the day’s end, and as such is adjusted when the account balance reaches a new peak at the conclusion of the trading day.

The EOD trailing drawdown always mirrors the end-of-day account balance, equivalent to your profit. For instance, suppose you have an account balance of $100,000 for 12 contracts, with a maximum trailing drawdown of $3,000. If your account balance falls to $97,000, your account will be blocked.

First day: You have made various trades, resulting in an account balance $101,000 at the end of the day. Your EOD balance will be adjusted to $98,000.

Second day: Your account balance at the end of the day is $100,500, with your EOD balance at $98,000.
Day 3: With an account balance of $102,500, your new EOD balance becomes $99,500.

Once you are eligible for a Master Account, the EOD ceases to adjust once it reaches the initial balance.

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EOD Dynamic Scaling Plan
Your EOD scaling buying power is contingent the Cash on Hand value. As your account profit fluctuates, so does the number of contracts you can trade. Withdrawals can also impact the total number of contracts available for trading.

Your EOD scaling buying power is contingent the Cash on Hand value. As your account profit fluctuates, so does the number of contracts you can trade. Withdrawals can also impact the total number of contracts available for trading.

  • $10,000, EOD
    No scaling, maximum 5 micro contracts
  • $25,000, EOD, account scaling
    $0 – $1,500: maximum 2 contracts
    $1,501+: maximum 3 contracts
  • $50,000, EOD, account scaling
    $0 – $1,500: maximum 2 contracts
    $1,501 – $4,000: maximum 4 contracts
    $4,001+: maximum 7 contracts
  • $100,000, EOD, account scaling
    $0 – $2,000: maximum 3 contracts
    $2,001 – $3,000: maximum 5 contracts
    $3,001 – $5,000: maximum 8 contracts
    $5,001+: maximum 12 contracts
  • $150,000 EOD, account scaling
    $0 – $4,000: maximum 5 contracts
    $4,001 – $8,000: maximum 8 contracts
    $8,001 – $12,000: maximum 10 contracts
    $12,001+: maximum 15 contracts
  • $250,000, EOD, account scaling
    $0 – $5,000: maximum 6 contracts
    $5,001 – $12,000: maximum 12 contracts
    $12,001 – $20,000: maximum 18 contracts
    $20,001+: maximum 25 contracts

Daily Loss Limit
The daily loss limit is the maximum amount that you can lose each day. It is based on your profit and loss, incorporating commissions and real-time/unrealised trades, for each trading day from 5.00pm to 4.00pm the following day (CST). The RTrader platform facilitates the tracking of the daily loss limit. The daily loss limits for each account size are listed below:

$10,000 account: $400
$25,000 account: $500
$50,000 account: $1100
$100,000 account: $2200
$150,000 account: $3300
$250,000 account: $4500

If you breach the daily loss limit, your account will be suspended for the rest of the trading day. This doesn’t count as a rule violation, and you can start trading again as normal the following day.

Once you are eligible for a Master Account, daily loss limits are removed once the maximum drawdown equals your account’s initial balance (e.g. $103,000 on a $100,000 account).

Minimum and Maximum Number of Trading Days
Traders must trade for a minimum of five days (excluding weekends and holidays), with a trading day counted as a day when you open a trade. There is no maximum limit, so traders can trade for as long as they need to in order to achieve the profit target. Traders are not required to trade on consecutive days.

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Master Account: Pricing and Rules

Once you have achieved your account’s profit target and traded for a minimum of five days, you will qualify for a Master Account. You need to submit a ticket through your account on the Bulenox website. The verification process will be completed within 48 hours, and once this is completed, the firm will send your certificate, instructions, questionnaire, and contract via email. Your subscription to your Qualification Account will be automatically cancelled by the administrator and you won’t be required to pay for it any longer.

Master Account fee OPTION 2:
For the Master Account with Option 2, there is no monthly fee. Instead, Bulenox charge a one-off activation fee, which covers the data feed and maintenance costs. The activation fees for each account size are listed below:

  • $10,000 account: $98
  • $25,000 account: $143
  • $50,000 account: $148
  • $100,000 account: $248
  • $150,000 account: $498
  • $250,000 account: $898
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Multiple Accounts
Traders can hold up to three Master Accounts at the same time. To activate additional Master Accounts beyond this (as many as 11), traders need to attain the initial starting balance on one of the three previously activated accounts. Each Master Account thereafter undergoes  individual review and can be added once the maximum drawdown equals the initial starting balance on the most recently activated Master Account. It’s not possible to merge multiple Master Accounts into one bigger account.

The Rules
Upon opening the Master Account, traders can start trading and receiving payment based on the profits they generate. Master Account rules mirror those of Qualification Accounts, with the exception that the account can’t be reset. The trailing or EOD drawdown ceases to adjust when it reaches the initial starting balance.

Trailing and EOD Drawdown Amount (TDA):

$10,000 – TDA of $1,000
$25,000 – TDA of $1,500
$50,000 – TDA of $2,500
$100,000 – TDA of $3,000
$150,000 – TDA of $4,500
250,000 – TDA of $5,500

Traders who surpass the maximum trailing drawdown will have their accounts closed by the administrator. Master Accounts are created with the idea of a long-term partnership between Bulenox and the trader in mind, and as such traders will potentially be offered unique opportunities going forwarded.

Payouts

Bulenox Trader processes payouts through ACH, Venmo, PayPal, and cryptocurrencies. Traders have the flexibility to request withdrawals at any point during the month, with processing taking place every Wednesday. To qualify to receive a payout, traders must complete a minimum of five trading days.

The futures prop firm has an attractive profit-sharing framework in which traders receive a sizeable share of the profits they generate. This will appeal particularly to high-performing traders seeking substantial returns. The payout process is simple, so traders can receive their earnings with minimum hassle.

Free 14 Day Trial Account

You can sign up to a 14-day Bulenox Free Trial (lasting for ten trading days) through Rithmic, and available for traders who have not previously registered with Rithmic. When the trial period comes to an end, you have the option to purchase a Qualification Account.

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Bulenox’s Instruments and Trading Platforms

Bulenox offers a diverse range of futures instruments across various categories, detailed below:

  • Equity futures e.g. E-mini S&P 500 and Nikkei NKD
  • Interest rate futures e.g. Eurodollar and 10-Year Note
  • Currency futures e.g. Australian Dollar and Japanese Yen
  • Agricultural futures e.g. corn and soybeans
  • Energy futures e.g. crude oil and natural gas
  • Metal futures e.g. gold and silver
  • Micro futures e.g. Micro-E-Mini S&P 500

Additionally, the prop firm supports the following 18 trading platforms:

  • NinjaTrader
  • R|Trader Pro
  • TigerTrade
  • Optimus Flow
  • InsideEdge Trader
  • VOLFIX.NET
  • ATAS (Order Flow Trading)
  • Scalp
  • Overcharts
  • Medved Trader
  • Quantower
  • ScalpTool
  • Trade Navigator
  • PhotonTrader
  • Sierra Chart
  • MultiCharts
  • MotiveWave
  • Bookmap X-Ray

Bulenox Pros and Cons
Pros
  • Minimal costs, particularly the low $78 reset fee.
  • 14-day free trial for potential traders to explore what the firm has to offer.
  • Attractive profit-sharing arrangement in which traders retain the first 100% they generate in profit, with a 90/10 split thereafter.
  • Unique opportunity to trade Micro Bitcoin.
  • Traders who qualify for funding only pay a one-time fee.
  • Diverse range of account sizes, starting at $10,000 and rising to $250,000.
  • Traders can have multiple accounts open simultaneously.
  • Bulenox is accessible worldwide.
  • Wide range of withdrawal options, including ACH/wire transfer and PayPal.
  • Flexible trading with no restrictions.
  • Guidance from professional traders with years of experience.
Cons
  • Strict withdrawals policy, with withdrawals permitted only after ten trading days and subject to minimum and maximum withdrawal limits based on account size.
  • No educational materials provided.
  • Focused predominantly on day trading, so may not suit traders preferring other strategies.
  • Established recently in 2022, the firm has a relatively brief history in the industry.

Conclusion

In summary, Bulenox provides a good range of funding account options, meaning there is one to suit the trading requirements of every trader. Trailing drawdown and EOD drawdown with scaling accounts each cater to different trading styles and objectives. It’s important to carefully consider which account you choose, as it shapes your approach to the market and how you’ll advance in futures trading. Either way, the Bulenox Prop Firm provides the necessary tools for success. It’s also worth bearing in mind that at present there is only Bulenox Futures, in other words, the firm is solely offering futures and the MBT Micro Bitcoin option. The futures prop firm’s withdrawal process is simple, and a final encouraging factor is the generous 90% profit share they offer.

At Prop Firm Plus, we believe Bulenox is worth considering while stepping into the futures prop trading world, its 14-day Free Trial and its competitive cost can be appealing to aspiring funded traders. However, we would recommend gauging the pros and cons and compare it to its competitors. Bulenox has many competitors, including industry leaders Topstep, Apex Trader Funding, and MyFundedFutures. Each of these futures prop firms offer access to multiple account options for undercapitalized futures funded traders, enabling them to perform in the futures markets. Like Bulenox, these prop firms grant you access to sophisticated trading platforms and futures contracts as well as offering attractive payout structures.

To learn more, get all the insights you need in our comprehensive reviews: Apex Trader Review 2024, Topstep Review 2024, TakeProfitTrader Review 2024, and MyFundedFutures Review 2024.

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Bulenox FAQs
INDIVIDUAL OR BUSINESS REGISTRATION

The trader can choose any form of personal registration, but in the case of business entities, traders may have to pay professional exchange data feed, depending on the structure and form of business.

MINIMUM TRADING DAYS

According to regulations, our company has a minimum of 5 trading days and no maximum number of days.

LICENSED KEY

While using the Master account, we provide a free license for the NinjaTrader 8 trading platform.

To trade NinjaTrader on Mobile device: NinjaTrader Mobile

TAX

All traders who trade and receive payments on the Master account are independent contractors. Form 1099-NEC Non-Employee Compensation will be sent for US citizens or W-8BEN for citizens of other countries.

Bulenox 
Account size up to:
$ 250,000
Exclusive 80% Discount. Coupon Code: PFP80

4.0
Trust & Fairness
5.0
Payments & Withdrawals
5.0
Trading Platforms
4.0
Customer Support
4.5 Overall Rating

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Bulenox Review 2024
4.5/5