Bulenox: A Comprehensive Review of the Prop Trading Firm

Psychological Pressure

The need to constantly monitor the threshold can be stressful.

Risk of Hasty Actions

The fear of reaching the threshold may push you to close positions prematurely.

Potential for Reduced Gains

Too strict risk management could limit your profit potential.

Rigidity and Threshold in Loss Management

Once the daily loss limit is reached, you cannot trade until the next day, which may hinder your trading momentum. Additionally, the value of the Daily Loss is not very high.

Depending on the account you choose, you will have a specific daily loss limit. This is the maximum amount you can lose per trading day.

Here are the limits for each account:

• $10K Account ⇒ $400
• $25K Account ⇒ $500
• $50K Account ⇒ $1,100
• $100K Account ⇒ $2,200
• $150K Account ⇒ $3,300
• $250K Account ⇒ $4,500
• Special 10K Account ⇒ $400

If you reach this limit, your qualification account will be blocked. You can then choose to reset or create a new account.

After the Bulenox Challenge:

Once the Bulenox challenge is successfully completed, there are no more daily loss limits on the main account, provided that the maximum drawdown reaches the initial account balance.

Drawdown is a crucial aspect to master in your journey with Bulenox, especially in your qualification account. This rule, depending on the account option you choose, determines the maximum you can lose before actions are taken.

Functioning

This drawdown evolves with your gains or losses. It's essential to monitor it closely, as exceeding it can have significant consequences on your account.

Adaptability

With Option 1, the drawdown adjusts according to the evolution of your balance, increasing with gains. This requires increased vigilance to stay on track.

Stability

Option 2, on the other hand, offers an EOD (End of Day) drawdown, set according to your end-of-day balance. This approach provides more predictability

Activity Requirement

You must perform at least one trade every five trading days. If your account remains inactive for longer, it will be suspended without notice.

Consequences

If you don't comply with this rule, any remaining amount in the account will be forfeited by Bulenox. Take this directive seriously!

Option 2 from Bulenox offers a unique approach to trading, incorporating an EOD (End of Day) Drawdown and a dynamic scaling plan. Here are the key details:

EOD Drawdown Functioning

The EOD Drawdown is calculated at the end of each trading day, based solely on the profits made at that time. It adjusts when your balance reaches a new high at the end of the day, providing predictable and stable risk management.

Practical Example

Let's consider an account with $150,000, 15 contracts, and an EOD Drawdown of $4,500. If your balance falls to $145,500, the account will be closed. Suppose on the first day, you end with a balance of $151,500, adjusting the EOD Drawdown to $147,000. If on the second day, your balance is $150,500, the EOD balance remains at $147,000. On the third day, with a balance of $152,500, your EOD Drawdown adjusts to $148,000.

After Qualification

Once you have passed the qualification account, the EOD Drawdown no longer moves in the main account as soon as you reach the initial balance.

Dynamic EOD Scaling Plan

Your trading buying power depends on the value of your gains. Profits directly affect your capacity to negotiate more or fewer contracts. The following table provides a clear view of the scaling according to gains for each account type:

• $10,000 Account ⇒ Up to 5 Micro-Contracts Max (no scaling)
• $25,000 Account ⇒ Up to 3 Contracts Max
• $50,000 Account ⇒ Up to 7 Contracts Max
• $100,000 Account ⇒ Up to 12 Contracts Max
• $150,000 Account ⇒ Up to 15 Contracts Max
• $250,000 Account ⇒ Up to 25 Contracts Max

• Lean Hogs (HE)
• Live Cattle (LE)
• Feeder Cattle (GF)
• Corn (ZC)
• Wheat (ZW)
• Soybeans (ZS)
• Soybean Meal (ZM)
• Soybean Oil (ZL)

• Gold (GC)
• Silver (SI)
• Copper (HG)
• Platinum (PL)
• Palladium (PA)
• E-mini Silver (QI)
• E-mini Gold (QO)

• Micro E-Mini S&P 500 (MES)
• Micro E-Mini Dow Jones (MYM)
• Micro E-Mini Nasdaq-100 (MNQ)
• Micro E-Mini Russell 2000 (M2K)
• E-Micro Gold (MGC)
• E-Micro AUD/USD (M6A)
• E-Micro EUR/USD (M6E)
• Micro Crude Oil (MCL)

The withdrawal and payment process at Bulenox is relatively straightforward to understand. This part of the article explains how the process works, including the minimum and maximum withdrawal amounts, the monthly period, and the payment methods available for withdrawals.

In general, traders can withdraw their profits after the initial weeks of trading at Bulenox. However, there is usually a limit on the withdrawal amount during this period. After the fourth month, the limit is removed, and you can withdraw as much as you have in your account.

Are people withdrawing money from Bulenox?

Yes, people are withdrawing money from Bulenox, as evidenced by the comments on Trustpilot and Facebook. These comments demonstrate the company's commitment to ensuring that traders have timely access to their profits.

Some of these reviews mention the speed of the process at Bulenox. As long as you have the appropriate amount in your account and your withdrawal request does not exceed the limit, there should be no obstacles to your withdrawal request.

What is the profit sharing arrangement at Bulenox?

Regarding profit sharing at Bulenox, the first $10,000 in profits belong entirely to the trader. Therefore, the company does not charge any commission when the withdrawal is made to the trader's bank account.

The next $40,000 in profits are subject to a commission. 10% of the profits belong to the company, while the remaining 90% belongs to the trader.

So, the profit-sharing ratio stands at 90/10. The prop firm always takes the lower percentage of the profits earned by the trader. The commission is deducted when the funds are transferred to the trader's personal bank account.

When can I withdraw my profits from Bulenox?

At what point in the month?

Traders can request withdrawals at any time during a specific calendar month. The first and sixteenth days of each month are the dates when all payments are processed by Bulenox. Traders should be aware of these dates to know when they can expect to see the funds in their accounts.

After how many days of trading?

For the first payment, a trader must have traded for a minimum of 10 individual trading days before a withdrawal request can be made. For the second and third payments, withdrawals can be requested after trading for a minimum of 12 individual trading days following the last withdrawal made by the trader. For the fourth payment and beyond, there is no minimum trading day requirement, meaning withdrawals can be requested at any time.

This means that the first, second, and third payments are subject to a minimum trading day requirement for making a withdrawal request. However, the fourth payment and subsequent ones are not subject to this requirement.

Explanation of the Withdrawal Reserve Threshold for Security

The withdrawal reserve threshold refers to the minimum amount that must be maintained in the trader's account before a withdrawal is allowed. Here is the withdrawal reserve threshold for each account size offered by Bulenox:

$10,000 Account ⇒ $1,100
$25,000 Account ⇒ $1,600
$50,000 Account ⇒ $2,600
$100,000 Account ⇒ $3,100
$150,000 Account ⇒ $4,600
$250,000 Account ⇒ $5,600

Subject to the provisions of the Master Agreement, traders have the right to withdraw the withdrawal reserve threshold once the Master Agreement is completed.

Is there a minimum and maximum withdrawal of your profits?

There is a minimum and maximum withdrawal amount for profits earned by a trader. For the first three payments, the minimum withdrawal is $1,000 for all accounts and $500 for the $10,000 account, while the maximum withdrawal amount is determined by the account size selected by the trader. Below is a list of the minimum and maximum withdrawal amounts for each account size:

Account Type Minimum Withdrawal Maximum Withdrawal

Table showing the Minimum and Maximum Withdrawal Amounts for Each Bulenox Account Size.

Where can I receive withdrawals?

Withdrawals can be disbursed from Bulenox through any of the following methods: ACH/bank transfer, Payoneer, Zelle, and PayPal.

Summary on Withdrawals at Bulenox

Bulenox has an efficient withdrawal process and a generous profit-sharing structure that is among the best in the industry. Bulenox focuses on building long-term relationships with futures contract traders, which is why the company establishes a structure that increases a trader's chances of success.

So, if you are a futures contract trader looking for a prop firm where you can earn a funded account, Bulenox may be worth considering. The rules are not complicated, and once you start trading on the funded account, you can be sure to withdraw your profits. Make sure you are familiar with the rules and do not overlook income tax when you start withdrawing your profits. I wish you success in your journey to become a funded trader by a solid and reputable prop firm like Bulenox.

At Bulenox, taxation on withdrawals is taken very seriously to ensure compliance with tax laws.

For U.S. Traders:

If you are a U.S. citizen, as soon as you request a withdrawal, Bulenox will provide you with a 1099-Misc form for Non-Employee Compensation. This classifies you as an independent contractor in the eyes of the IRS, and you will be responsible for paying income taxes accordingly.

For International Traders:

If you are a non-U.S. resident trader, Bulenox will provide you with a W-8BEN form. This document is crucial to clarify your tax status and ensure that withholding on your earnings is handled correctly.

IMPORTANT: I strongly recommend consulting a tax specialist to ensure you understand your obligations and plan your taxes properly. Even though this information comes from Bulenox, I am not qualified to provide tax advice.

If such an opportunity is offered to you, you will have the freedom to choose between continuing to trade on your primary account or accepting a transfer to an account managed by Bulenox's partners. It's a chance to progress and expand your trading horizons with increased financial support and customized opportunities.

For those who are not familiar, the No Scaling concept allows traders to start trading at full size immediately without restrictions related to increasing position sizes. Additionally, there are no daily loss limits, only a profit target and a loss threshold.

The setup fee only includes one-time installation costs. Afterward, Bulenox will cover the expenses related to data and the platform from its partners. At Bulenox, the setup and activation fees are $148 for a $50,000 account. Competitors charge $85 per month and require you to have your own charting platform.

Like many No Scaling companies, Bulenox will require you to maintain a cushion for withdrawals. There will also be a maximum withdrawal limit during the initial months to allow traders to grow their accounts properly. The one-time setup fees will save you hundreds or even thousands of dollars on a real account, or as Bulenox calls it, a primary account.

Is Bulenox's EOD Drawdown program more cost-effective?

The current evaluation offer is much better than the top two EOD Drawdown programs. Therefore, Bulenox has significant potential and a chance to surpass programs like Uprofit Trader, Earn2Trade Gauntlet Mini, and even Leeloo, which is currently declining. Ultimately, it will depend on your preferences regarding payment speed, the time you're willing to invest, commissions, etc. The key is to choose the prop firm based on your well-defined criteria.