Bulenox Review 2024

Bulenox Overview

Bulenox is a proprietary (prop) trading firm, stationed in Wilmington, Delaware, United States. This innovative company is pioneering the trading industry by creating an “Ecosystem of Trader Development”. In this ecosystem, it has quickly become a very popular funded futures trader evaluation. With several new companies out there, the competition is heating up the market. Bulenox is very competitive on their pricing, account sizes, and rules. And offers traders multiple approaches to funding at a deep discount until 90% off. Micro traders, aggressive traders, and traders looking for more trader-friendly EOD drawdown and structure will find a home at Bulenox.

What Can You Trade With Bulenox?

With Bulenox, traders have access to a wide range of futures markets, providing opportunities across various asset classes. You can trade popular futures contracts, including indices like the S&P 500 (ES) and NASDAQ (NQ), as well as commodities such as crude oil, gold, and natural gas. Bulenox also supports trading in financial instruments like bonds and currencies, allowing traders to diversify their strategies and explore different market opportunities. The platform is designed to accommodate both short-term day traders and long-term position traders, offering flexibility and a broad selection of markets to suit any trading style.

Bulenox is a prop firm that funds traders to trade Futures. You can trade all CME (CME, CBOT, NYMEX, COMEX) Futures assets, including the Micros.

Here’s a list of all of the Future instruments that you can trade with Bulenox:

• Equity Futures

• Foreign Exchange Futures

• Agricultural Futures

• Energy Futures

• Interest Rate Futures

• Metals Futures

• Crypto Futures

Bulenox Account Sizes

Bulenox offers a variety of account sizes to cater to different trading needs and experience levels. Traders can choose from accounts that range from smaller starter accounts, typically around $25,000 in simulated capital, up to larger accounts with $250,000 or more. Each account size comes with its own set of rules, such as daily loss limits, profit targets, and maximum drawdowns, allowing traders to select an option that fits their risk tolerance and trading strategy. The flexibility in account sizes makes Bulenox accessible for both beginners looking to start small and experienced traders aiming for larger, more ambitious trading goals.

Bulenox has six different account sizes, which they call Programs, that you can choose from. The balances available are $10,000, $25,000, $50,000, $100,000, $150,000, and $250,000.

The costs start at $115 per month for the smallest account and go up to $535 per month for the bigger account size.

Qualification account rules

1. Trading Days

A trader must trade at least 5 trading days to get to the Master Account.

2. Time

The trading day starts at 5:00 pm and ends at 4:00 pm the following day, North American Central Standard Time (CST). Holidays and weekends do not count as a trading day.

All positions must be closed by 15:59 (CST).

3. Maximum Position Size

The maximum position size depends on the selected account. A trader can have several positions at the same time.

4. Objective

The trader's objective is to reach a profit target to get to the Master Account.

5. Trailing Drawdown

Do not allow the maximum drawdown on your account.

6. Position

A trader can trade both standard and micro contracts at the same time.
1 standard contract is equivalent to 10 micro contracts.

The List of Futures Instruments

Equity Futures

• E-mini S&P 500 (ES)

• Nikkei NKD (NKD)

• E-mini NASDAQ 100 (NQ)

• Mini-DOW (YM)

• E-mini Midcap 400 (EMD)

• Russel 2000 (RTY)

• Micro Bitcoin Futures (MBT)

Interest Rate Futures

• Eurodollar (GE)

• 2-Year Note (ZT)

• 5-Year Note (ZF)

• 10-Year Note (ZN)

• 30-Year Bond (ZB)

• Ultra-Bond (UB)

• 30 Day Fed (ZQ)

Currency Futures

• Australian Dollar (6A)

• E-micro Australian Dollar (M6A)

• British Pound (6B)

• E-micro British Pound (M6B)

• Canadian Dollar (6C)

• E-micro Canadian Dollar (M6C)

• E-mini Euro FX (6E)

• E-micro Euro (M6E)

• Japanese Yen (6J)

• Swiss Franc (6S)

• New Zealand Dollar (6N)

• Mexican Peso (6M)

Agricultural Futures

• Lean Hogs (HE)

• Live Cattle (LE)

• Feeder Cattle (GF)

• Corn (ZC)

• Wheat (ZW)

• Soybeans (ZS)

• Soybean Meal (ZM)

• Soybean Oil (ZL)

Energy Futures

• Crude Oil (CL)

• Micro Crude Oil (MCL)

• E-mini Crude Oil (QM)

• Natural Gas (NG)

• E-mini Natural Gas (QG)

• New York Harbor (RB)

Metal Futures

• Gold (GC)

• E-micro Gold (MGC)

• Silver(SI)

• Copper(HG)

• Platinum(PL)

Micro Futures

• Micro E-Mini S&P 500 (MES)

• Micro E-Mini Dow Jones (MYM)

• Micro E-Mini Nasdaq-100 (MNQ)

• Micro E-Mini Russel 2000 (M2K)

All open positions must be closed by 15:59 CST.

Using Trade Copiers, Algorithms, Strategies, Bots

Our company does not provide any kind of algorithms. However, it is not forbidden to use them. We are not responsible for any technical issues that might be caused or related to third-party software. If there is an issue with the software we recommend contacting the developer of the software to clarify it.

Statuts

When a Trader signs a user Agreement with Rithmic, it is their responsibility to make sure that the appropriate status is selected: professional or non-professional status.

Once a status has been selected, there will be no opportunity to change it both on the Qualification Account or the Master Account.

IMPORTANT: A professional Trader is obliged to pay $116 every month for exchange data feed (CME, CBOT, NYMEX, COMEX).

A Trader with a non-professional status does not have to pay for the exchange data feed. This is included in the Qualification Account.

Option 1: No Scaling Account (Trailing Drawdown)

- The trailing drawdown will always follow the current balance. Threshold is trailing for realized and non-realized gains, which is equal to your profit.
- The drawdown is recorded in real-time during the trading day and includes a commission.
- If your balance decreases, then your allowable drawdown remains unchanged.
- If the trader violates the allowable drawdown, the trader's account is blocked by the administrator. In this case, the trader can make a reset or create a new account.

For example:

A Trader has an account of $100,000 for 12 contracts, has a maximum trailing drawdown of $3,000. This means that the maximum you can lose is $3,000 from the maximum profit point at any given time, including open positions. In this case, if your account drops to $97,000, then the account will be blocked. The trader started trading and opened the first trade and earned $800. In this case, the maximum drawdown also moves and now the drawdown will be $ 97,800 ($100,800 - $3,000 = $97,800). If the trader has not yet closed the deal and gave back the profit of $ 300. At that moment, when the trader closes the deal, $100,500 remains. In this case, the maximum drawdown also remains at the level of $97,800. The maximum drawdown will always move $3,000 from the highest account balance.

Option 2: EOD Account (EOD / Scaling Plan / Daily loss limit)

End of the day Drawdown (EOD)

EOD is updated at the end of the trading day during your Qualification as well as in the Master Account. The EOD will only take into account when the profit is made at the end of the trading day. It is updated when your account balance reaches a new high at the end of the trading day.

The EOD trailing drawdown will always follow the balance at end of the day, which is equal to your profit.

For example:

A trader has an account of $100,000 for 12 contracts, has a maximum trailing drawdown of $3,000. In this case, if your account drops to $97,000, then the account will be blocked.
Day 1
Trader's made few winning and losing trades. At the end of the day, trader's account balance stops at $101,000. EOD balance will be adjusted to $98,000.
Day 2
On the second day, trader's account balance at the end of the day is $100,500. The EOD balance is unchanged at $98,000.
Day 3
At the end of the third day, the account balance is at $102,500. Your new EOD balance is adjusted to $99,500.

After Qualification, for Master Account:
The EOD stops moving when the EOD reaches the initial balance.

EOD Dynamic Scaling Plan

Your EOD Scaling buying power determined by the Cash On Hand value. As your account profit increases or decreases, you can trade more or fewer contracts.

$10K EOD Account Scaling
No Scaling(5 Micro-Contracts Max)

$25K EOD Account Scaling
$0- $1,500(2 Contracts Max)
$1,501 +(3 Contracts Max)

$50K EOD Account Scaling
$0- $1,500(2 Contracts Max)
$1,501 - $4,000(4 Contracts Max)
$4,001 +(7 Contracts Max)

$100K EOD Account Scaling
$0- $2,000(3 Contracts Max)
$2,001 - $3,000(5 Contracts Max)
$3,001 - $5,000(8 Contracts Max)
$5,001 +(12 Contracts Max)

$150K EOD Account Scaling
$0- $4,000(5 Contracts Max)
$4,001 - $8,000(8 Contracts Max)
$8,001 - $12,000(10 Contracts Max)
$12,001 +(15 Contracts Max)

$250K EOD Account Scaling
$0- $5,000(6 Contracts Max)
$5,001 - $12,000(12 Contracts Max)
$12,001 - $20,000(18 Contracts Max)
$20,001 +(25 Contracts Max)

Daily Loss Limit

Daily loss Limit is amount that you lose max per day. Daily loss is based on your Profit and Loss, it includes commissions and real-time/unrealized trades, for each trading day from 5:00 p.m. to 4:00 p.m. Central Time. The daily loss limit could be tracked in RTrader platform.

Daily Loss Limits:

10K  Account - $400 Daily loss limit

25K  Account - $500 Daily loss limit

50K  Account - $1100 Daily loss limit

100K Account - $2200 Daily loss limit

150K Account - $3300 Daily loss limit

250K Account - $4500 Daily loss limit

In the event that the Daily Loss Limit is reached, the account will be suspended for the remainder of the trading day and will not count as a rule violation. The regular trading session will resume at the start of the next trading day.

After Qualification, for Master Account:

Daily loss limits will be removed after the maximum drawdown threshold reaches the account's starting balance. (For example: $103,000 on a $100,000 account.)

Master Account fee OPTION 2:

For the Master Account with Option 2, there is no monthly cost, just a one-time activation fee that includes a data feed and maintenance fee. The activation fee is based on the selected account size:

$10,000 Account - $98
$25,000 Account - $143
$50,000 Account - $148
$100,000 Account - $248
$150,000 Account - $498
$250,000 Account - $898

Commission

The commission depends on the instrument that will be used for trading:

Please note that all the commission is indicated per side.

The detailed list of commision you could find HERE.

Reset

Have you reached the maximum drawdown? A Trader can make a reset by updating his/her account balance.

The reset is processed immediately, a notification about the reset will be sent by email.

The reset only updates the initial balance so that the trader can continue to trade on the account to which he is subscribed. All previous gains or losses will not be counted. Also, all previous active trading days will not count towards a minimum of 5 trading days. The Trader will again need to trade 5 trading days.

IMPORTANT:
Reset does not change the expiration date of the Qualification Account subscription. The subscription is automatically renewed every 30 days until you cancel it yourself. If a rule in the Qualification Account is violated before the next billing date, the account will be reset for free on the specific billing date. Moreover, the completed trading days will remain. The free reset option is only available on the billing date. If the trader wants to reset the account at any other time, it will cost $78.

How to reset:
1. Log in to your account at Bulenox.com using your username and password.
2. Inside of your profile account select "reset account"
3. Follow the instructions to pay for the reset.

Minimum and maximum number of trading days

- The Trader must trade at least 5 trading days. Weekends and Holidays do not count as trading days.

- There is no maximum limit on how many trading days a Trader must trade. The Trader can trade until the profit target is reached.

- A Trader is not required to trade every day.

- A trading day is counted only when a Trader has opened a trade.

What is meant by a trading day?

The trading day starts at 5:00 pm and ends at 4:00 pm the next day, North American Central Standard Time (CST).

Multiple accounts

- A Trader can simultaneously have several Qualification and Master Accounts.

- All additional accounts created by a trader must be under the same Rithmic User Id.

- Trader could have unlimited Qualification Accounts and up to 11 active Master Accounts.

Only one Rithmic User ID Allowed

A Trader can only register one login at Bulenox.com. Rithmic User ID will be created when subscribing to a Qualification Account. Since the trader will have only one login on bulenox.com, accordingly, there will also be only one Rithmic User ID.

To subscribe for additional Qualification Accounts:
1. Log in to your account at Bulenox.com using your username and password.
2. Inside your account, open the Bulenox Account tab and select one of the additional accounts.

All additional accounts will automatically be linked to your Rithmic User ID.

For example:
BX000642 - Rithmic User ID
BX000642-001 - account number
BX000642-002 - account number
BX000642-003 - account number

IMPORTANT: If it is found that a trader has registered several logins on Bulenox.com and has several Rithmic User IDs from Bulenox.com, then we reserve the right to completely delete the Rithmic User ID and block the trader's profile without a refund.

Master Account

The objective on the Qualification Account has been achieved, what is next?

Make sure that the profit target on your account has been reached and you have traded for at least 5 days.

These requirements could be checked through the "Reports" tab in Bulenox Profile. The "Reports" tab is updated by the end of the trading day.

Log in to your Bulenox profille and find a tab "Passed Qualification Request". By clicking on it, you could submit a form for the verification of your Qualification Account.

How to submit the form correctly:
- Indicate the full account number. For example BX30452-07, BX30452-08, BX30452-12;
- Double-check that the email you are indicating is correct.

Please note that if the form was submitted incorrectly, it will not be reviewed.

If you have several accounts, you can submit all of them in one form.

Verification can take up to 48 hours. After all the verification of your information and accounts has been completed, you will receive an email with a certificate, instructions, questionnaire, and contract.

You no longer need to pay for a subscription to a Qualification Account. The subscription to the Qualification Account will be canceled by the Administrator.

Also a Trader can manage the subscription in his/her Member's Area. In order to do that, it is necessary to log in to the profile and select the needed account. You will be able to see the buttons "cancel" and "terminate".

The button "Cancel" will cancel the subscription and the account stays active until the expiration date. The button "Terminate" will cancel the subscription and delete your account from your dashboard and trading platform immediately.

Is there a fee to pay for a Master Account?

For the Master Account with Option 1 and Option 2, there is no monthly cost, just a one-time activation fee that includes a data feed and maintenance fee. The activation fee is based on the selected account size:

$10,000 Account - $98

$25,000 Account - $143

$50,000 Account - $148

$100,000 Account - $248

$150,000 Account - $498

$250,000 Account - $898

Multiple Accounts

- A Trader can simultaneously have several Qualification and Master accounts.

- All additional accounts created by a trader must be under the same Rithmic User Id.

- Trader could have up to 11 active Master Accounts at a time.

Multiple Accounts:

Traders can activate up to three (3) Master Accounts simultaneously. To activate each additional Master Account, it is required to reach the initial starting balance +100 on one of the three previously activated accounts. Each subsequent Master Account is reviewed individually and can be added once Max Drawdown reaches the initial starting balance on the most recently activated Master Account. Multiple Master Accounts cannot be combined into one larger account.

IMPORTANT: If it is found that a trader has registered several logins on Bulenox.com and has several Rithmic User IDs from Bulenox.com, then we reserve the right to completely delete the Rithmic User ID and block the trader's profile without a refund.

Master Account Rules

The Master Account will be opened after we receive the completed application form and the signed contract. You will receive an email informing you that the Master Account is open. After that, you can start earning and getting paid based on your result.

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

If the trader exceeds the maximum trailing drawdown, the account will be closed by the Administrator.

The Master Account is designed for a long-term relationship with the opportunity to receive a unique offer from our partners in the future.

Withdrawal rules / Performance-Based Compensation

On the Master Account, the Trader is paid directly for the results achieved.

The first $10,000 earned is withdrawn to the Trader's bank account without any commission.

After the withdrawal of the first $10,000, the company's commission is 10% of the profit, the remaining 90% is received by the Trader.

The commission is charged at the time of transfer of funds to a personal bank account.

Payout could be requested anytime during the calendar month. All payouts are processed once a week, on Wednesdays.

The request for any payout could be processed after Trader has been completed for at least ten or more individual trading days.

The minimum withdraw of 1-3 payments is $1,000 (For $10,000 account the minimum withdraw is $500). The maximum withdraw amount depends on the account size:

$10,000 account - $750
$25,000 account - $1,000
$50,000 account - $1,500
$100,000 account - $1,750
$150,000 account - $2,000
$250,000 account - $2,500

After 3rd payout, there is no maximum withdrawal limit.

The withdrawal safety threshold Reserve limits:
The withdrawal safety threshold reserve is defined as the minimum amount required to remain in the Trader’s Account to be able for withdraw.

$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 Master Agreement, Trader is entitled to withdraw safety threshold reserve upon the termination of Master Agreement.

Consistency Rule:

We have a Consistency rule on the Master Accounts which apply toward every payout.

The 40% Consistency rule states that upon submitting a withdrawal request, the balance in the Master Account must not consist of more than 40% of the total profit balance from a single trading day. For example, the trader made a $20,000 total profit on the account and requested to make a withdrawal. In this case, the best single profitable day should be at most 40%, which is 8,000.

You could use the following equation to calculate if the 40% Consistency rule is met: PnL% = (Best day P&L / Total P&L)*100. Finally, if Consistency rules are not met, payout cannot be processed. However, it will not violate the account. Instead, the trader can continue to trade to generate more profit and use the average position size, and the percentage of profit earned on the best day remains below 40% of the total profit. The safety threshold is also counted to the 40% rule for the first withdrawal. The earned profits can be withdrawn with the further payouts as well. Accordingly, there is no limit regardless of profit made. But the best single profitable day should be at most 40% of your total balance.

When a Trader requests a withdrawal, a tax form will also be sent to pay taxes to an address that has been provided in the personal profile. Withdrawal could be requested via ACH/Wire Transfer, Paypal.

Traders who trade and receive payment on the Master Account are independent contractors. Form 1099-Misc Non-Employee Compensation will be mailed for US citizens or W-8BEN for foreign citizens.

The Master Account intended for advanced training and paid based on performance. Traders with proven results-oriented for a long-term relationship would receive on an individual basis a unique offer from our capital partners. The conditions and terms are discussed individually with each trader. The Trader has a choice to continue to trade on the Master Account or to be transferred to our partners' account.

Special Account

Micro Account $10,000

A micro account allows Traders to trade up to 5 micro contracts.

Micro account criteria:
- Profit target $1,000
- Option 1: Trailing Drawdown Account $1,000
- Option 2: EOD drawdown $1,000, Daily loss limit $400
- Maximum position size up to 5 micro contracts

It is allowed to carry trades on a micro account to the next day without closing them, except for weekends.

What instruments can be carried over to the next day?

MES (Micro S&P)
MNQ (Micro Nasdaq)
M2K (Micro Russel)
MYM (Micro Dow)

Connection

Registration

The Registration can be done in four steps.

1. Choose one of the account sizes or click on the “Login” link in the upper right corner.

2. Thereafter, click on the button “Sign Up”

3. Fill out the next information:

- Full Name;
- Email.

4. Choose login, create the password and select the preferred account size in your Bulenox Profile

Rithmic connection

How to connect:
- Download and install Rithmic R | TRADER
- Open Rithmic R | TRADER
- "User ID" - enter the user ID (you will find it in member's area)
- "Password"- enter a password (you will find it in member's area)
- System” - select “Rithmic Paper Trading”
- “Gateway” - select “Chicago”. If you want to use other servers then for Europe choose “Europe” or “Frankfurt”. If for Asia then "Tokyo" or "Singapore"
- Make sure that Market Data [On] and Allow Plugins [On]

After connecting, you need to agree to the Rithmic working conditions:
- Check out the first document, then click the "I Agree".
- Check out the second document, select “Non-Professional” or “Professional”, then click the "Submit" button.

Please note that Rithmic runs with the Windows OS and it is not supported on macOS and Chrome OS.

IMPORTANT:
Rithmic is on maintenance over the weekend. It will be not possible to log in.

A Trader with a non-professional status does not pay for the exchange data feed. It is included in the Qualification Account.

A professional Trader is required to pay his/her exchange data feed every month $112 per exchange (CME, CBOT, NYMEX, COMEX).

NINJATRADER CONNECTION (Free License)

How to connect:
1. Please make sure you have connected to R Trader/R Trader Pro and accepted the Rithmic terms.
2. Create a free simulation profile and download NinjaTrader 8: NinjaTrader 8
3. Install and log in to NinjaTrader Desktop with your credentials.
4. Enable Multi-Provider Mode by going to Tools > Options, and then placing a checkmark next to the Multi-provider option.
5. Click OK, and then from the Command Center, go to Connections > Configure.
6. Select My Rithmic for NinjaTrader Brokerage from the list of Available connections, then click the add option from the Configured box.
You will see My Rithmic for NinjaTrader Brokerage as an option in the Configured box; click that and then enter your Rithmic credentials (you will find it in Member's Area).
Select Rithmic Paper Trading (Chicago) as System and uncheck Plug-in mode for market data. Please change the connection name to Bulenox.
7. Disable the Global Simulation Mode by going to Tools, and then remove a checkmark next to the Global Simulation Mode
8. Enter your license key on the NinjaTrader website (you will find it in Member's Area).
How-Migrate-My-Evaluation-Service-License-Key?
Please then restart the trading platform.
9. From the Command Center, once again click Connections and then Bulenox.

For a complete guide please follow the link: NinjaTrader Connection guide

If you receive any error messages during this process, please reach out to us by emailing support@ninjatrader.com.

How to trade NinjaTrader on Mobile device: NinjaTrader Mobile

Please note that NinjaTrader runs with the Windows OS and it is not supported on macOS. IMPORTANT:

OCO (One Cancels Other) functionality is simulated on your PC. If NinjaTrader is offline/disconnected from Rithmic, the second part of an OCO order (target/stop) will not be canceled. For example, if a stop is filled at a time NinjaTrader is offline/disconnected from Rithmic, the target will not be canceled and it will continue to pend until it gets filled as well. This will lead to an extra position unless there are other open positions that could be closed by the second part of an OCO order.

Please note that we are not liable for any loss caused by extra positions opened as a result of uncanceled OCO orders.

Subscription & Payment

Payment Methods

You can pay using a credit card, debit card, PayPal or Crypto.

Change Subscription

You can add additional Qualifications account at any time. To change your existing subscription account size, you need to cancel active account, then to subscribe to your new account.

Subscription Cancellation

You can unsubscribe your Qualification Account at any moment. Your account will be active until your new billing date.

You can do it through your Bulenox Profile. Review your active subscriptions area. Select the needed account and click on the button "Cancel" or "Terminate".

The button "Cancel" will cancel the subscription and the account stays active until the expiration date.

The button "Terminate" will cancel the subscription and delete your account from your dashboard and trading platform immediately.

Return POLICY

After registering and using Bulenox's service, no refunds are allowed. Therefore, it's strongly recommend that you read Bulenox terms and conditions before subscribing.

Comparing to other Prop Firms

When comparing Bulenox to other prop firms like UProfit or Apex Trader… Bulenox stands out for its balance between flexibility and trader support. While all three firms offer evaluation phases, Bulenox provides a more lenient drawdown structure compared to Apex Trader's stricter rules, making it more forgiving for traders developing their strategies. UProfit, known for its rapid funding options, offers similar account sizes, but Bulenox distinguishes itself by delivering a more robust platform selection and a smoother trading experience, ideal for traders who want to customize their setup. Overall, Bulenox combines user-friendly features with competitive evaluation criteria, positioning itself as a strong contender in the prop firm space.

Disadvantages of Bulenox

While Bulenox offers many advantages, there are a few notable disadvantages to consider. One of the main drawbacks is its platform complexity, which can be overwhelming for beginner traders who may find the extensive features difficult to navigate. Additionally, some users report concerns about the transparency of fees, with occasional confusion around hidden costs for premium services or advanced tools. Bulenox’s evaluation process, though flexible, may still feel challenging for traders not accustomed to prop firm requirements, especially when compared to firms with faster or simpler funding options.

Conclusion

In conclusion, Bulenox is highly regarded for its advanced trading tools, responsive customer support, and a strong commitment to trader education, making it an appealing choice for both novice and experienced traders. However, the platform’s complexity may present challenges for beginners, and there is room for improvement in fee transparency and user interface design. Overall, Bulenox delivers a powerful and feature-rich trading experience, but traders should ensure it aligns with their individual needs and be prepared for a learning curve to fully maximize its potential.