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  • #101
  • Aug 29, 2018 2:49pm Aug 29, 2018 2:49pm
Quoting leweg1
{quote} oh of course, I'll try it for couple of months. I know i can hit the 5% to trigger withdrawal before 2 months subs charge so will see if they pay out or not. Trading times are not really any different from my own, the PRO account lets you trade from 6AM GMT+1 Monday all the way through til 9pm GMT+1 Friday. Overnight trades are aloud just close them before market close Friday.
Well I wouldnt wait a couple months. I would say give it two weeks as you can get a refund, but my advice is do not trade your own money at the same time as it is very tempting. Just stick with the blufx account.

Also monitor their facebook page for news on withdraws etc.
  • #102
  • Aug 29, 2018 2:52pm Aug 29, 2018 2:52pm
Quoting MXT
{quote} did you call Pricemarkets too ?
No I didn't mate

Quoting Samson85
{quote} Well I wouldnt wait a couple months. I would say give it two weeks as you can get a refund, but my advice is do not trade your own money at the same time as it is very tempting. Just stick with the blufx account. Also monitor their facebook page for news on withdraws etc.
I mean I can get 5% in under 2 weeks with my leverage, but their 3:1 leverage will take some working, especially with max lot being 0.50 X2, Ive "liked" and joined their groups so eyes are on it
  • #103
  • Aug 29, 2018 3:16pm Aug 29, 2018 3:16pm
Quoting leweg1
{quote} No I didn't mate {quote} I mean I can get 5% in under 2 weeks with my leverage, but their 3:1 leverage will take some working, especially with max lot being 0.50 X2, Ive "liked" and joined their groups so eyes are on it
I think eur/USD is 0.5x 3 it depends on the pairs you trade. I know I'm repeating myself but please don't trade your own money as well. As soon as you get set up widthraw your m9ney from your personal broker so the temptation isn't there.

The psychology aspect will be a bit challenging so treat the managed account as it's your own money but at least you won't sweat as much lol.

You based in the UK?
  • #104
  • Aug 29, 2018 4:26pm Aug 29, 2018 4:26pm
Quoting Samson85
{quote} I think eur/USD is 0.5x 3 it depends on the pairs you trade. I know I'm repeating myself but please don't trade your own money as well. As soon as you get set up widthraw your m9ney from your personal broker so the temptation isn't there. The psychology aspect will be a bit challenging so treat the managed account as it's your own money but at least you won't sweat as much lol. You based in the UK?
yea about 3 positions to max out the leverage, I mainly trade GBPJPY and Gold so probs couple of .50 and a .30 there abouts.

I'll still trade my personal account, i still got to eat

yea im just after the challenge, and if they payout and they give me the million account that's a brucie bonus.

yes mate, Oxford.
  • #105
  • Aug 30, 2018 6:41am Aug 30, 2018 6:41am
Quoting leweg1
{quote} yea about 3 positions to max out the leverage, I mainly trade GBPJPY and Gold so probs couple of .50 and a .30 there abouts. I'll still trade my personal account, i still got to eat yea im just after the challenge, and if they payout and they give me the million account that's a brucie bonus. yes mate, Oxford.
Leweg , i know you don't need me to tell you this

but just out of due diligence , and because it doesn't cost you too much effort , please give just a call to Pricemarkets and talk to somebody with knowledge of the matter about Blufk accounts , just mentioning that you're in the process of signing up with Blu and that you just heard some rumors regarding demo accounts vs real accounts

see how the guy responds , and if you get the feeling that they really provide live accounts only to Blufx or they provide you with any real bank wire transfers or real money transferring proofs , then go ahead
  • #106
  • Sep 10, 2018 12:18pm Sep 10, 2018 12:18pm
Quoting leweg1
{quote} yea about 3 positions to max out the leverage, I mainly trade GBPJPY and Gold so probs couple of .50 and a .30 there abouts. I'll still trade my personal account, i still got to eat yea im just after the challenge, and if they payout and they give me the million account that's a brucie bonus. yes mate, Oxford.

How are you getting on with Blufx?
  • #107
  • Edited 1:17pm Sep 10, 2018 12:35pm | Edited 1:17pm
i interesting to try blufx also but which platform they are use?and also i have few questions regarding their terms:
Quote

  1. BluFX Prop Traders are not liable for any losses incurred during their trading activity.
  2. Traders are compensated on a profit split basis only. Traders keep 50% of their profits if and only if a profit target of 5% is reached.
  3. Traders will manage a $50,000 trading book on Standard or Pro Package and $25,000 on Basic Package, with leverage of 1:3.
  4. Traders may only trade on major and minor pairs shown on the right.
  5. Trading Hours are as follows: 6:00am – 9:00pm (Monday – Friday) London time.
  6. Overnight positions are only authorised to subscribers on a Pro Package, or when the first growth target (10%) is reached on the Standard Package.
  7. Hedging is not allowed. 2 or more opposing positions that result in margin limit breaches are deemed to be unauthorised trading activities.
  8. Traders on Pro or Standard Package have growth options to progress to larger capital books
  9. The following currencies may be traded as pairs: CHF, USD, GBP, EUR, JPY, CAD, AUD, NZD. XAUUSD is also available.



Quote
Traders are compensated on a profit split basis only. Traders keep 50% of their profits if and only if a profit target of 5% is reached.

what if month ended and i didn't achieved 5%? what if i made 2% are they going to take it?

Quote
Withdrawal Schedule

  1. Requests for withdrawal can be made whenever the account balance is at least 105% and the subscription is active
  2. Withdrawals are processed up to the 20th day of each month and are bank transfers to the trader are made on the 25th of each month.
  3. Withdrawals in blocks of 5% are deducted upon request from the trading account. There is no limit on withdrawals on a monthly basis.
  4. The traders profit spilt of 50% is then transferred to the traders equity account and is held separately from the trading account. The amount requested will be sent to the trader on the 25th of each month.


Quote
Requests for withdrawal can be made whenever the account balance is at least 105% and the subscription is active

what 105%?is that mean i have to turn 25000 to 51250$ before withdraw?

Quote
Withdrawals in blocks of 5% are deducted upon request from the trading account.
i didn't understand that part
  • #108
  • Sep 10, 2018 3:21pm Sep 10, 2018 3:21pm
Quoting JsCave
i interesting to try blufx also but which platform they are use?and also i have few questions regarding their terms: {quote} {quote} what if month ended and i didn't achieved 5%? what if i made 2% are they going to take it? {quote} {quote} what 105%?is that mean i have to turn 25000 to 51250$ before withdraw? {quote} i didn't understand that part

They use MT4 Platform. Broker is a FCA broker called 'Price markets'.

If you don't achieve 5% then wins or losses stay on the account like a regular account.

When you make 10% on the account they double your account size. Make 10% on the account and they will give you a $50,000 dollar account. The furthest you can reach is $1,000,000 account, but I would suggest that you know how to trade before taking out an account with them, but then again the $25,000 account is only $99 a month.
  • #109
  • Sep 10, 2018 3:35pm Sep 10, 2018 3:35pm
Quoting Samson85
{quote} They use MT4 Platform. Broker is a FCA broker called 'Price markets'. If you don't achieve 5% then wins or losses stay on the account like a regular account. When you make 10% on the account they double your account size. Make 10% on the account and they will give you a $50,000 dollar account. The furthest you can reach is $1,000,000 account, but I would suggest that you know how to trade before taking out an account with them, but then again the $25,000 account is only $99 a month.
thank you for reply , i think 25,000 account is enough no need to pay more i am not greedy , anyway i still send email to them i have a lot questions to ask
  • #110
  • Dec 9, 2018 1:50pm Dec 9, 2018 1:50pm
Quoting The-Flipper
99.99% of all retailers fail, these "offerings" and monthly fees are nothing but a sucker tax (scam). If you can really trade, you can show your trade record or build/trade your own capital.
That's a sensational claim not backed by any statistics. In the US, NFA requires all retail brokers to provide statistics on account profitability. Recently, the European financial regulatory body, European Securities and Markets Authority (ESMA), now requires all EU-regulated retail brokers to publish client profitability information as part of the brokers' risk warning. According the US and European statistics, about 72% of retail traders lose money.
  • #111
  • Dec 19, 2018 9:25pm Dec 19, 2018 9:25pm
Hello everyone , i am new to this thread and this " Prop firm companies "
and im very interested in this idea
since i have not enough capital to trade ,
i want to ask if anyone here have used this item on blufx or any other of these prop firm companies ?
is it real ? sounds like too good to be true
have anyone tried this ? and get rewarded ?
  • #112
  • Dec 20, 2018 5:00am Dec 20, 2018 5:00am
Quoting hesameddin
Hello everyone , i am new to this thread and this " Prop firm companies " and im very interested in this idea since i have not enough capital to trade , i want to ask if anyone here have used this item on blufx or any other of these prop firm companies ? is it real ? sounds like too good to be true have anyone tried this ? and get rewarded ?
it's not sugar as you thinking they have strict rules and you have to be really profitable to take advantages except that it's useless... if you read rules and make calculation you will realize it's not sugar
  • #113
  • Jan 28, 2019 6:57pm Jan 28, 2019 6:57pm
Im new posting here but felt obliged to add my experience with this topic, and in particular 1 firm that I investigated at a forensic level.
I did this as i was fedup with bailing out my son each time he blewup yet another account. He has been trading since he was about 15, 4 years ago, i am a midcap stock fund manager. He has had some incredible runs, in crypto, ipos, emini but especially fx. However as I mentioned he also blows up when he gets his red mist mode
So I looked around and found blufx. At first it didnt make sense. No assessments just pile in? had to be a scam right? I went to see them, and sneakily eavesdropped and hung around in the building - I am also near Bank in the city
My observations are interesting - I also spoke with Price markets - my son has now been there for 7 months and he has got paid a few times after doubling his account twice, and dropping back down after doing all his accumulated profit in a couple of days without a peep from the firm% - why?
those who suspect its a scam - simulator, no real money etc - trading spot fx is basically all simulator in the sense that someone pays you if you are correct and keeps your money if you are wrong about the action you take based on the prices in the interbank market. so the only difference between demo or real is that your trades are matched with a market maker or not. As long as you get paid when you win what should you care if its a market maker or blufx/spreadbet firm/bookie on the other side if they are simply keeping the monthly fee. so i was ready to accept this premise. However for this model to work they should really double the monthly charge when they double the balance - the payout to those on bigger accounts must eat up the fees, the firm would be at risk of huge payouts if they are not routing the large trades to a market maker - it would like selling naked options and collecting premium, not clever at all - at the same time they cannot be taking the losses from all the losing accounts and staying in business
So this is my deduction from the facts and observations - first some facts -
They have an algo team ex top tier bank guys and they appear to have some serious amount of funds.
They have a Chinese customer service team and appear to have huge Chinese funding/ownership
They trade currencies on a huge scale with algos
They have an order cap of 0.5 lots for all traders even the ones with big accounts
Their MT4 is definitely matching with dealers and producing real audit trial

So my conclusion is that they have a huge currency trading account and all the 0.5 trades are hedged at the currency level to produce a zero profit and loss book, and the data generated by the best traders is used in their algos - i also think they copy the better traders. However they are definitely running a market neutral book and so in a way it is simulated reality, but its real to my son. Its fantastic, its like charging you a fixed fee to hang out in a casino for the whole evening, lose any amount but still get paid if you do win - or traders with kinks to iron out its the bet and cheapest option - better than your own account with another 'simulator' broker

at 99 pounds and full refund if you dont like it? what real trader would not choose this for a beginner who asks how to start trading

Jasons Dad!
  • #114
  • Jan 29, 2019 3:35am Jan 29, 2019 3:35am
Quoting tradeandrun
Im new posting here but felt obliged to add my experience with this topic, and in particular 1 firm that I investigated at a forensic level. I did this as i was fedup with bailing out my son each time he blewup yet another account. He has been trading since he was about 15, 4 years ago, i am a midcap stock fund manager. He has had some incredible runs, in crypto, ipos, emini but especially fx. However as I mentioned he also blows up when he gets his red mist mode So I looked around and found blufx. At first it didnt make sense. No assessments just...
Nice one Jasons Dad
  • #115
  • Jan 30, 2019 7:51am Jan 30, 2019 7:51am
Quoting tradeandrun
Im new posting here but felt obliged to add my experience with this topic, and in particular 1 firm that I investigated at a forensic level. I did this as i was fedup with bailing out my son each time he blewup yet another account. He has been trading since he was about 15, 4 years ago, i am a midcap stock fund manager. He has had some incredible runs, in crypto, ipos, emini but especially fx. However as I mentioned he also blows up when he gets his red mist mode So I looked around and found blufx. At first it didnt make sense. No assessments just...
Thank you for a deep analyze of the firm now i know where to go if i take a bad run and run out of funds but my system works if i can just follow my rules "Disipline" can be very difficult when it lives a gambler in you i trade of EMA`S tohether with supp/ress lines reversals annd if goes my way i take 1-5 pips and if price just with a micro pip goes on the other side i close out this makes my winners slithly bigger than my loosers but with 20-40 trades a day i do between 10-30 pips and once ore twice a month a loosing day but i have 5 loss a day stoploss so my loosing days rearly over 10 pips i havent been able to follow rules very long and then i have opened up too 10 0.3 and taken some 500 loss in minutes because i am a gambler but with say 20 pips a day i do 60 dollars IF I CAN FOLLOW RULES 0.30 lots posisions thats what i trade on any accountsize as long as account is big enough i have 500:1 leverage so 100 dollars is enough but my account is way bigger than thatI had a 7 day run with winning days and then a loosing day and today i made 22 dollars and had some loosers so i quit there.But if i should run out of funds 99 pounds a month is not much to trade with others funds and keep profits and dont mind if you loose i think thats a good deal after all
  • #116
  • Feb 4, 2019 10:31am Feb 4, 2019 10:31am
Actually all so called prop trader training firms do is collect tuition fee and students trade on demo accounts.
Trainers know very well 95% of them lose money and they have to pay just 5%.
As a parent you can likewise become a market maker and let your son trade on demo accounts.
If he wins, pay him. The chances of his winning will be 5 pc.
Quoting tradeandrun
Im new posting here but felt obliged to add my experience with this topic, and in particular 1 firm that I investigated at a forensic level. I did this as i was fedup with bailing out my son each time he blewup yet another account. He has been trading since he was about 15, 4 years ago, i am a midcap stock fund manager. He has had some incredible runs, in crypto, ipos, emini but especially fx. However as I mentioned he also blows up when he gets his red mist mode So I looked around and found blufx. At first it didnt make sense. No assessments just...
Practice makes a person perfect
  • #117
  • Feb 8, 2019 5:12pm Feb 8, 2019 5:12pm
Quoting simnz
Actually all so called prop trader training firms do is collect tuition fee and students trade on demo accounts. Trainers know very well 95% of them lose money and they have to pay just 5%. As a parent you can likewise become a market maker and let your son trade on demo accounts. If he wins, pay him. The chances of his winning will be 5 pc. {quote}
yeah you are missing the point somewhat. All spot fx trading is basically simulated price feed and the broker/market maker/firm collects your losses and pays out your winner. Instead of the broker collecting hard cash each time something goes wrong and then demands more hard cash I am happy to outsource the bookie function to these prop firms for peanuts each month

Why would i provide a demo and become a market maker for 1 guy when these guys will do it for a small fixed charge (compared to a bookie emptying the account at random intervals)

Ambitious kids are gonna trade no matter what, and it takes a while for them to accept they are not the 5% and then move on, best to be smart about it. However these guys slice it and present they are all bucket shop - these 'fixed fee trade all you want' firms are better than spreadbet brokers

also they are different to the pay for training mob
  • #118
  • Feb 8, 2019 6:03pm Feb 8, 2019 6:03pm
Quoting tradeandrun
those who suspect its a scam - simulator, no real money etc - trading spot fx is basically all simulator

They have a Chinese customer service team and appear to have huge Chinese funding/ownership They trade currencies on a huge scale with algos

its like charging you a fixed fee to hang out in a casino for the whole evening, lose any amount but still get paid if you do win
Quoting tradeandrun
All spot fx trading is basically simulated price feed and the broker/market maker/firm collects your losses and pays out your winner

good post Tradeandrun

it's a pity that this thread landed in the recycle bin , as it provides good info on those so called ' prop firms '
  • #119
  • Feb 8, 2019 9:39pm Feb 8, 2019 9:39pm
Quoting tradeandrun
{quote} yeah you are missing the point somewhat. All spot fx trading is basically simulated price feed and the broker/market maker/firm collects your losses and pays out your winner. Instead of the broker collecting hard cash each time something goes wrong and then demands more hard cash I am happy to outsource the bookie function to these prop firms for peanuts each month Why would i provide a demo and become a market maker for 1 guy when these guys will do it for a small fixed charge (compared to a bookie emptying the account at random intervals)...
a small note to add:
apart from monthly fee or not, simulated trading or not...
the prop firms/brokers also collect a commission on each trade. even if that in the end staying in house.
on top the rules are tilted toward trading frequently.
maximized lot size, close before news, close before weekend, drawdown limits, plus if there is a monthly fee to make money to cover that too, and of course try to make the most of the account.
since most traders sign up for a monthly fee cos often they dont have 10-30-50k for an account but can cough up 200-500$ monthly fee, sort of...most also has no experience handling a larger account.
but as in a casino, the high roller lounge slot has more appeal than the machine working with a dime...ppl if lose keep paying up for trials and monthly fees for the thrill really.

and yes, you touched on another point,
many of these firms use their data to crunch, copy probably a bunch of trader's positions who they deem the top echelon by their stat ( and of course not sharing profit on it). maybe even selling out some data to others in the industry. neat little business.
there is always, always another trade!!
  • #120
  • Aug 25, 2019 2:59pm Aug 25, 2019 2:59pm
Recently i have talk with alot of friends and traders over internet skype, whatsapp, facebook and other sources

FTMO, 5%ers, Topstep, Audacity, Blufx are doing gud job

but i think best is FTMO................
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