Do you Know Blufx ? They are a Proprietary Company that offers fund to forex traders. They offer two plans to clients; are they legit? Before you join, Read our Blufx Review.
WHAT IS Blufx?
As I said earlier, blufx is a proprietary firm that offers funds to traders to trade. They offer a 50% profit to their clients. blufx subscription fee is based on monthly
Overview Of Blufx Review
After digging into their Website, I found this information about Blufx in there website, Blufx review.
After a year of hard work and thousands of simulated trials, our first trading software was launched in 2015. With an adaptive neural net risk management system, our trading software allowed users to trade six major FX pairs.
In the first month of launching, we had over fifty traders – and reduced the monthly cost for traders from £3000 to £325.
In 2016, we launched our web-based trading platform, which further transformed the trader’s behavioural experience.
We then upgraded our risk management system with AI and removed many old-school rules and pre-screen processes, and trusted the AI to direct the parameters.
We entirely replaced the old-school rules and approaches with a new set of AI-driven risk parameters based on transforming retail traders into professional fund managers. Central to this was the reduced use of leverage.
AI introduced innovations like a monthly payday, set trading hours and growth targets set at levels based on vast amounts of trading data. We configured an environment geared for maximum success yet at a lower cost than the traditional retail broker journey.
With that, our client base grew from 50 to over 500 users.
We rebranded the project as BluFX and, after listening to trader feedback, adopted the MT4 based trading platform.
We also added overnight trading, trader growth path and further reduced our monthly subscription prices to £249 (Pro) and £99 (Lite).
We had enough proven and successful traders to return a consistent profit to our investors based on 2-1 leverage. We reduced the minimum commitment from $1,000,000 to $250,000…
We attracted over 3000 traders from over 60 countries globally.
You can check out the Blufx Review based on users.
Note: Sadly, the reviews are paid; if you review those comments, you can easily find out that those all are scripts given by the company.
Blufx Stages|Blufx Subscription fee
Well, there are two types of account they provide Lite and Pro. Please read our Blufx review carefully.
Blufx Doesn’t have any stages, and they offer you a Real live account to trade with the Market.
The Lite Account with the fee of 99€ Monthly*
The Pro Account with the fee of 240€ Monthly*
You can withdraw the profit in the 5% block every 20th of the month.
Blufx leverage is 1:3 for their every plan, and they didn’t mention the margin percentage set by the broker to trade.
Blufx lot size again. They didn’t mention any restrictions on the lot size.
So everything is excellent, right? They offer real account, no demo like ftmo or fidelcrest. But the deeper you go, the scam you can figure out.
Blufx Review | Information
Regulation: No regulations (Since they are not broker’s)
Account size: 25k, 50k
- Subscription Fee: 99€ Lite, 249€ Pro packages
- Profit target: 5% For withdrawal
- Daily stops: 10% of account size
- Total drawdown: 10% of account size
- Trading hours: 6 AM to 9 PM UK time
- Position holdings: Overnight Not allowed on Lite package, Allowed on Pro Package
- Account type: Unknow
- News trading: allowed
- Trading period: 30Days based on subscriptions
- Deposits: Paypal, Skrill, Visa, Master card, debit card
- Withdrawals: 20th of each month
Found in: 2015
The Beginning of blufx Scam | Blufx Review
Blufx offers two packages, as we know, but they do the scam so effectively, average traders won’t be able to figure it out. Let me explain the Scam of Blufx in this blufx review.
The scam starts with pursuing you to buy their account with attractive Pricing on blufx subscription fee.
They offer a $25k live Account with the fee of 99€ monthly, and the Profit target is 5% which is 1250$. So you might think, what is the scam in here?
If you go through their terms and conditions, you can see that you can only withdraw in 5% blocks. So you think this also a fair point, right.
Now let’s go much deep into their trading rules of a $25k account. In the 25k Trading plan, they won’t allow you to hold the trading position over the night. As you all know, the Forex market is unpredictable, and we have to follow risk management to be successful trader.
Blufx allows you only to trade on 6 AM to 9 PM UK time. So if you take any trade, you have to close it before 9 PM daily. Here comes the scam scheme. If you are an experienced trader, you know that in the forex market, we have to hold some trades over the night or few days to be in profit because of the volatility. At this moment, limiting your limit, they are trapping you in a big dark hole.
Blufx Subscription Fee Scam
You invested 99Eur for a 25k plan; your target is 1250$, which 5% of the account. So if you are not able to make 1250$ in the month, you should pay another 99eur until you want to keep the account on blufx subscription fee.
It would be best if you remembered that you couldn’t hold it overnight and you have to reach every month 5% for withdrawal.
Even if you are looking for scalping, don’t the blufx leverage, which is 1:3. The blufx leverage is so low that you can’t scalp using huge lot size. Blufx leverage doesn’t fit with the trading plans of the retail trader on the other hand fidelcrest provides leverage of 1:100 which is considered suitable for forex trading.
So the important question can you reach 5% every month by trading only for a limited period?
I would recommend you check out our review on fidelcrest Fidelcrest Review 2020, Profit sharing & More | Legit or Scam?