BluFX

About BluFX

BluFX was a forex-focused proprietary trading firm founded in 2017 and headquartered in London, United Kingdom, at 28 Throgmorton Street. The firm operated under a unique subscription-based model that set it apart from the majority of prop firms in the industry. Rather than requiring traders to pass an evaluation or challenge before receiving capital, BluFX provided instant access to funded trading accounts upon subscription, making it an attractive option for traders who wanted to start trading immediately.

Important: BluFX closed all trader accounts in March 2023 and has ceased all trading operations. The closure was attributed to significant problems with the UK's Financial Conduct Authority (FCA) and issues with their liquidity provider. While the company has not formally dissolved and has expressed intentions to restructure and return, no timeline has been provided and the firm is not currently accepting new traders or servicing existing accounts.

Before its closure, BluFX offered accounts ranging from $10,000 (Mini Lite) to $100,000 (Super Pro), with monthly subscription fees from $99 to $1,099. The firm also offered swap-free (Islamic) versions of all accounts at slightly higher prices ($129 to $1,239/month). Pro and Super Pro accounts could be scaled up to $1,000,000 in trading capital, making BluFX one of the few firms to offer such high scaling potential without an evaluation requirement.

BluFX used the cTrader platform exclusively and provided access to 29 forex currency pairs plus gold. The profit split was a straightforward 50/50 across all account types, which was less competitive than most prop firms but offset by the instant account access and no evaluation requirement. The firm had a 4.4/5 Trustpilot rating before closure, though recent reviews have turned negative due to the sudden account closures and reports of unpaid withdrawals.

How BluFX Works

Note: BluFX is currently not operational. The following describes how the firm operated before its March 2023 closure.

1. Choose a Package: Select from Mini Lite ($10K), Lite ($25K), Pro ($50K), or Super Pro ($100K) accounts.
2. Subscribe: Pay the monthly subscription fee. No evaluation, challenge, or test required.
3. Start Trading Immediately: Upon verification and subscription payment, receive a live funded account on cTrader.
4. Trade Forex: Access 29 currency pairs and gold. Mini/Lite accounts trade during European session hours (6 AM - 9 PM London time); Pro/Super Pro accounts trade 24 hours on weekdays.
5. Withdraw Profits: Once the 5% profit threshold is reached, request weekly payouts at a 50/50 split.
6. Scale Up: Pro and Super Pro accounts can be scaled up to $1,000,000.

Pricing & Plans

Standard Accounts

Swap-Free (Islamic) Accounts

BluFX also offered one-time fee packages ranging from $429 to $549 as alternatives to monthly subscriptions.

Rules & Restrictions

• Maximum Drawdown: 10% of the initial account balance.
• No Daily Loss Limit: There was no separate daily loss limit.
• Trading Hours: Mini/Lite accounts restricted to European session (6:00 AM - 9:00 PM London time, weekdays). Pro/Super Pro accounts could trade 24 hours, Monday through Friday.
• No Weekend Holding: All positions had to be closed before the weekend.
• EAs/Automated Trading: Not permitted. All trading had to be manual.
• Copy Trading: Not allowed.
• News Trading: Not explicitly addressed in the firm's public rules.
• Scalping: Permitted.
• Profit Withdrawal Threshold: Traders needed to reach 5% profit before making their first withdrawal.
• Withdrawal Increments: Profits could be withdrawn in 5% increments.

Payouts

• Profit Split: 50/50 across all account types.
• Payout Frequency: Weekly (when operational).
• Payout Methods: Bank transfer.
• Minimum Payout: 5% profit threshold required before first withdrawal.
• Withdrawal Method: Profits withdrawn in 5% increments of the account balance.

Is BluFX Legit?

BluFX was a legitimate proprietary trading firm that operated from 2017 until March 2023. The firm was incorporated on June 14, 2017, and was based in London, UK. Before its closure, BluFX had a 4.4/5 Trustpilot rating with approximately 1,000 reviews, with 77% rated as excellent. However, the firm's reputation has been significantly damaged by its sudden closure. In March 2023, BluFX closed all trader accounts due to regulatory issues with the UK's Financial Conduct Authority (FCA) and problems with its liquidity provider. Many traders reported unpaid withdrawals and sudden account terminations. As of December 2022, BluFX had also stopped accepting US-based traders due to regulatory concerns.

While BluFX has stated intentions to restructure and potentially resume operations, no concrete timeline has been provided. Traders should not attempt to sign up or send money to BluFX at this time. The firm's website may still be accessible, but it is not operational.

FAQ

What is BluFX?

BluFX was a UK-based forex proprietary trading firm founded in 2017 that offered instant funded accounts without requiring traders to pass an evaluation or challenge. The firm operated on a monthly subscription model and provided accounts from $10,000 to $100,000 on the cTrader platform. BluFX ceased operations in March 2023.

How much does BluFX cost?

BluFX is not currently operational. When it was active, monthly subscription fees ranged from $99 for a Mini Lite ($10K) account to $1,099 for a Super Pro ($100K) account. Swap-free versions were available at higher prices ($129 to $1,239/month).

What is BluFX's profit split?

BluFX offered a flat 50/50 profit split across all account types. Traders kept 50% of profits and BluFX retained 50%.

Does BluFX allow EAs/bots?

No. BluFX did not permit the use of Expert Advisors (EAs), bots, copy trading, or any form of automated trading. All trades had to be executed manually.

Is BluFX available in the US?

No. BluFX stopped accepting US-based traders in December 2022 due to regulatory concerns, and the firm subsequently closed all operations in March 2023.