The trading accounts at BluFX are not ‘typical’ forex broker trading accounts, requiring a specified minimum deposit. Instead, clients choose one of three trading packages and pay a monthly subscription fee without any prior requirements or experience-based barriers. An account subscription earns them the right to trade risk-free, with funds provided entirely by BluFX. Traders earn revenue on a 50% profit split basis, only after hitting a target of 5%. However, traders who experience a 10% loss on their trading accounts (£5,000) are reviewed by the account manager. Notably, spreads for the currency pairs are not disclosed on the BluFX website and leverage provided to all traders subscribing to BluFX is very low at 3:1. Nonetheless, we saw that customers can cancel their monthly subscription fees at any time and re-join BluFX as often as they wish (as long as they have not violated a trading policy).
BluFX does not provide a demo account because customers do not risk their own capital when trading.
For £99 per month, clients are given immediate access to a £25,000 trading book with FX major and minor currency pairs. Currently there are pairings of the CHF, USD, GBP, JPY, EUR, CAD, AUD, NZD and the XAU/USD. Traders are not liable for any losses from trading, and profits are split 50/50 with BluFX. Notably, the Basic package is designed for novice traders and anyone wanting only limited involvement, as there is no possibility of increasing the size of the account. Furthermore, leverage is limited to 1:3, whilst hedging and overnight positions are not permitted.
£199 per month gives customers access to the entire range of tools available at BluFX, and the possibility of growing the size of the trading book. Notably, the Standard package is designed to be versatile and suitable to beginners as well as advanced traders, wanting access to more trading tools. Initially, clients are given a £50,000 trade book with leverage up to 1:3 on the FX currency pairings of the CHF, GBP, EUR, USD, JPY, CAD, AUD, NZD and XAU/USD. Moreover, traders who make a 10% profit on the initial starting capital and don’t withdraw the profit, see their trading book doubled in size to £100,000. Importantly, for every 10% profit made and not withdrawn, clients are given larger funds to trade with, up to the amount of £1 million. It’s important to realise that traders are not liable for losses incurred through trading. However, profits are split 50/50 with BluFX. Like the basic package, hedging is not permitted, and clients cannot take overnight positions.
For £249 per month, traders receive the advanced package, designed for experienced traders at BluFX. The Pro package gives clients the full range of benefits of the BluFX trading system, for trading the FX major and minor currency pairs in CHF, USD, EUR, GBP, JPY, AUD, CAD, NZD and XAU/USD. The Pro package provides clients with the potential for growing the account and taking overnight positions, whilst being protected by the additional layer of risk management existing in the Pro package. Clients start with £50,000 and profits are split 50/50 with BluF, based on a 5% profit bloc. However, like the Standard account, traders can grow their accounts automatically if they make 10% profit, and don’t withdraw the funds. Whilst hedging is not allowed, traders can take positions overnight but not over weekends. Despite subscribing to an advanced package with broader trading opportunities, traders not being liable for trading losses.
Capital Growth Path at BluFX
BluFX helps traders subscribing to the Standard and Pro plans, to progress to ever larger account books in four distinct steps. Significantly, unless traders suffer severe losses on their trading accounts, they are not rolled back to the lower funding levels. Moreover, traders who reach the ‘Mastery’ level may be given the opportunity to become professional fund managers for BluFX or choose to become full time proprietary traders with BluFX.
- Incubation – Traders begin with £50,000 trade books and work to develop profitable trading strategies with a 10% target growth, taking them to the next step on the BluFX traders’ path.
- Refinement – Account values are doubled automatically to £100,000 when the 10% target growth is met by traders and cash withdrawals are not made. At the refinement stage, traders can build consistent trading strategies whilst learning to manage financial market crises
- Specialisation – Upon meeting the 10% trading targets and not withdrawing profits from the trading account, the account book is doubled to £200,000. At this stage traders learn about managing large funds and how to diversify their investment portfolios.
- Mastery – Successful trading whilst leaving profits in the trading account leads to a £1 million account book with BluFX. Notably, traders ‘achieve freedom’ for their proprietary trading careers and may be asked to join BluFX as fund managers.