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As an aspiring forex trader, you may be wondering how to get started with Bulenox. This trader funding company provides free funds for your trading account once you sign up. However, there are some conditions you must meet to get started, including not exceeding the maximum drawdown on your qualification accounts. In this Bulenox trader funding review, I will highlight the requirements you need to fulfill to qualify for this service.
Traders must not hit the maximum drawdown on their qualification accounts
Traders must not hit the maximum drawback on their qualification account. There are two drawdown limits, EOD (end of the day) and intraday. The maximum loss a trader can experience on an account is determined by the size of the trade, which is often measured in microns. For example, an EOD drawdown of over $5000 will disqualify a trader.
The maximum drawdown is different for different types of traders. Some can tolerate a higher maximum drawdown, while others cannot. Traders should set their maximum drawdown at 20% or lower. Depending on the type of trading, traders can reduce their stake size, tighten stop losses, and avoid using leveraged ETFs or exotic currency pairs. To reset or open a new account, traders must not exceed the maximum drawdown.
Traders should monitor their drawdowns closely. The maximum drawdown is often expressed in dollars. This value can help traders decide how much to trade and lose. If you cannot control your risk after a drawdown, it may be best to exit the trade. Alternatively, you can use it as a learning experience and continue trading. Then you can move on to a different asset class.
Traders can subscribe to multiple Master Accounts. But each account must be registered under the same Rithmic user ID. A trader may subscribe to more than one Qualification Account simultaneously. Traders can have as many as 11 accounts. But each Master Account must have a different Max drawdown. If the maximum drawdown on a Qualification Account is reached, it will automatically be deactivated.
Traders should monitor their drawdowns closely. If it spirals out of control, traders must change their trading strategy. For example, a 1% drawdown won’t raise any concerns because it requires an average gain of 1.01% – twice as much as the maximum drawdown. A 50% drawdown, on the other hand, will take months to recover. So traders must be careful not to hit the maximum drawdown on their qualification account.
The maximum drawdown on a qualification account must be smaller than the minimum drawdown. Traders should also consider the maximum drawdown duration before taking any action. For example, a 20% drawdown that lasts for several months is bearable, but one that stretches over many years can be nerve-wracking. The maximum drawdown is also an excellent way to forecast the worst-case scenario. By managing this risk, traders can become more effective performers.
Traders must trade for at least ten days before passing the Bulenox challenge successfully.
Traders can earn a commission by trading with Bulenox. Before signing up, they must first register with Rithmic, the company that runs the Bulenox-funded trading platform. Afterward, traders can choose one of two account types – one with a daily drawdown and the other with no limit. The account type will depend on their trading style. For details on the qualifications, visit the Bulenox knowledge base.
Traders must trade for at least a total of ten days before they can successfully pass the Bulenox challenge. Trading days are Monday through Friday, excluding holidays. The trading hours are based on North American Central Standard Time, and the trader must close all positions at least thirty minutes before the time for closing. After passing the challenge successfully, traders can earn a monthly salary of up to $3 million.
Traders must start trading with a $151,500 account balance and must have an EOD drawdown of $147,000. On the second day, the EOD drawdown will be $147,000, and on the third day, it will be $150,000. This trader must then finish trading with an account balance of $150,500 before they can pass the Bulenox challenge successfully.
To successfully pass the Bulenox challenge, traders must have a Qualifying account and a Challenge account. This account type must be active for at least ten days. If the trader has an inactive account, they must create a new one. If a trader does not meet this minimum, they will lose their ability to pass the Bulenox challenge.
Traders must complete the Bulenox challenge successfully by achieving a profit goal over ten trading days. They can reset their account and start again if they reach this profit goal. During this process, they must open and close positions on each of the ten trading days. Then, they must prove their trading skills and consistency. Then, after passing this evaluation phase, traders have full access to their trading accounts. This process is followed by a revenue share of up to 80%.
Traders must invest at least $100 in a Forex account before passing the Bulenox challenge. In addition, traders must be able to pass the test at a 50% success rate and trade for at least ten days before they can complete the challenge. There are some challenges to passing this challenge, but the overall experience is well worth it.
Traders must pass the Bulenox challenge successfully
A funded trading account is necessary to trade futures and props on the Bulenox platform. Traders can use this account to invest in various futures contracts. Bulenox bills itself as a global platform for trading futures and props that combines years of trading experience and cutting-edge technology. Traders must pass a qualifying account challenge to be considered for a funded trading account.
A reset option is available in the Account section of the Bulenox platform. This will enable traders to link additional accounts to their Rithmic User ID. However, a trader must remember that Bulenox reserves the right to delete multiple Rithmic User IDs. Alternatively, Bulenox has the right to suspend a trader’s profile if it notices multiple Rithmic User IDs linked to the same account. While multiple accounts are permitted on the Bulenox platform, it is not recommended to open more than one. Multiple accounts are allowed but must be linked under a single login.