We calculate the daily loss limit based on the previous day’s end of day equity. This is calculated at 5PM EST, so ensure you know what time of day this is in your location.
All of this is calculated for you automatically inside your traders dashboard in real time, so you don’t need to calculate any of it, but you do need to understand it.
Example 1:
The day’s starting balance was $100,000. You open a position and it goes into $10,000 profit and you close the trade before the end of the day. At the end of this day your account equity is $110,000 which is carried over to the second day.
The second day your daily drawdown limit is reset with the new High-Water Mark being $110,000. If your daily drawdown limit is 3% on the Turtle account then the lowest your equity can reach is $110,000 – $3,300 = $106,700.
Example 2 (Violation): The day’s starting balance was $100,000. You open a position and it goes into $10,000 profit but you did NOT close the trade before the end of the day. Instead you moved your stop-loss to breakeven. At the end of this day your account equity is $110,000 which is carried over to the second day.
On the second day the trade goes back to breakeven and is closed by your stop-loss. Even though the individual trade did not lose from the balance, you have lost more than the allowable amount (3% on a Turtle account) on a single day and this will be a hard violation and the account will be closed.
The Maximum Drawdown is static, which means it is calculated based on the initial balance and not the equity.
For example:
The Maximum drawdown of a 100K Turtle account is 6% of the initial balance. This means that the Maximum drawdown level is always 100K minus (100K x 6%) = 94K.
If you violate this rule, the account will be closed.
The minimum time to complete the Turtle Challenge is 10 trading days. There must have been at least one trade opened on 10 different days to successfully pass the challenge.
A trader may not reach the profit target with one large trade, then use significantly smaller lots to pass the minimum trading days.
When the account is reviewed if there is a large difference in lot size used to pass minimum time rule the challenge will be failed.
Trades must be fully executed trades, they can not just be opened and closed. Pending orders do not count towards the total.
You can take as much time as you need to complete the Turtle Challenge, as there is no maximum time limit. You are free to trade at your own pace as long as you do not breach the inactivity period.
All challenge and funded accounts are traded on a demo account so we can manage our risk. Your funded account is connected to a real funded account, which you are paid from.
To ensure trades can be copied effectively to the real account we can not tolerate any form of manipulation on any account.
Manipulation includes but not limited to:
Tick scalping – constantly opening and closing trades in less than 30 seconds. We realise sometimes trades are closed instantly for one reason or another, so if there are occasional trades that are opened and closed in less time we won’t close your account.
Arbitrage.
Hedging between accounts.
Delayed or frozen data feeds.
Unrealistic fills that don’t take into account slippage, where a huge lot size is used and closed within a small amount of pips.
Allowing others to trade your account.
Copying others trades.
Lot size manipulation – Traders cannot use a much smaller trade to pass the minimum days after hitting the profit target or to fill the minimum trading days. As a guide, the deviation can not be greater than a factor of 5. – Example 1: If your smallest lot size is 1 and your largest is 5 on similar assets, this is okay. – Example 2: If your smallest lot size is 0.1 and your largest is 5 on similar assets, this is not okay. – Example 3: If your trade 1 lot on EURUSD and hit your profit target and then trade 1 lot on LTCUSD to pass minimum days, this is not okay as LTC has a contract size of 1 while EURUSD has a contract size of 100,000. In this example, a 100 pip increase in LTCUSD would be equivalent to $10 but a 100 pip increase in EURUSD would be equivalent to $1,000. – Example 4: If you have 5 trades of EURUSD opened at the same time, each with a lot size of 1, your net position size is 5 Lots. Thus, if your smallest lot size is 0.5 lots, this is not okay.
Taking advantage of the demo environment is also not permitted.
Traders cannot trade digital currencies over the weekend to pass the minimum days.
You can add a customization to increase your daily drawdown to 6% and maximum drawdown to 12%.
We calculate the daily loss limit based on the previous day’s end of day equity. This is calculated at 5PM EST, so ensure you know what time of day this is in your location.
All of this is calculated for you automatically inside your traders dashboard in real time, so you don’t need to calculate any of it, but you do need to understand it.
Example 1:
The day’s starting balance was $100,000. You open a position and it goes into $6,000 profit and you close the trade before the end of the day. At the end of this day your account equity is $106,000 which is carried over to the second day.
The second day your daily drawdown limit is reset with the new High-Water Mark being $106,000. If your daily drawdown limit is 5% on the Hare account then the lowest your equity can reach is $106,000 – $5,300 = $100,700.
Example 2 (Violation):
The day’s starting balance was $100,000. You open a position and it goes into $6,000 profit but you did NOT close the trade before the end of the day. At the end of this day your account equity is $106,000 which is carried over to the second day.
On the second day the trade goes back to breakeven and is closed by your stop loss. Even though the individual trade did not lose from the balance, you have lost more than the allowable amount (5% on a Hare account) on a single day and this will be a hard violation and the account will be closed.
If you violate this rule, the account will be closed.
You can add a customization to increase your maximum drawdown to 12% and daily drawdown to 6%.
The Maximum Drawdown is static, which means it is calculated based on the initial balance and not the equity.
For example:
The Maximum drawdown of a 100K Hare account is 10% of the initial balance. This means that the Maximum drawdown level is always 100K minus (100K x 10%) = 90K.
The minimum to complete each phase of the Hare Challenge is 5 trading days. There must have been at least one trade opened on 5 different days to successfully pass each phase of the Challenge.
A trader may not reach the profit target with one large trade, then use significantly smaller lots to pass the minimum trading days. When the account is reviewed if there is a large difference in lot size used to pass minimum time rule the Challenge will be failed.
Trades must be fully executed trades, they can not just be opened and closed.
All challenge and funded accounts are traded on a demo account so we can manage our risk. Your funded account is connected to a real funded account, which you are paid from.
To ensure trades can be copied effectively to the real account we can not tolerate any form of manipulation on any account.
Manipulation includes but not limited to:
Tick scalping – constantly opening and closing trades in less than 30 seconds. We realise sometimes trades are closed instantly for one reason or another, so if there are occasional trades that are opened and closed in less time we won’t close your account.
Arbitrage.
Hedging between accounts.
Delayed or frozen data feeds.
Unrealistic fills that don’t take into account slippage, where a huge lot size is used and closed within a small amount of pips.
Allowing others to trade your account.
Copying others trades.
Lot size manipulation – Traders cannot use a much smaller trade to pass the minimum days after hitting the profit target or to fill the minimum trading days. As a guide, the deviation can not be greater than a factor of 5. – Example 1: If your smallest lot size is 1 and your largest is 5 on similar assets, this is okay. -Example 2: If your smallest lot size is 0.1 and your largest is 5 on similar assets, this is not okay. -Example 3: If your trade 1 lot on EURUSD and hit your profit target and then trade 1 lot on LTCUSD to pass minimum days, this is not okay as LTC has a contract size of 1 while EURUSD has a contract size of 100,000. In this example, a 100 pip increase in LTCUSD would be equivalent to $10 but a 100 pip increase in EURUSD would be equivalent to $1,000. – Example 4: If you have 5 trades of EURUSD opened at the same time, each with a lot size of 1, your net position size is 5 Lots. Thus, if your smallest lot size is 0.5 lots, this is not okay.
Taking advantage of the demo environment is also not permitted.
Traders cannot trade digital currencies over the weekend to pass the minimum days.
The profit target to reach the next stage of the Instant Standard Account is 10%. Traders are free to make withdrawals from their account which will not affect their profit target to scale.
For example, if you make 6%, make a 6% withdrawal from your account and then make another 4% profit, you are still eligible to scale to the next level.
Aggressive Account
The profit target to reach the next level of the Instant Aggressive Account is 20%. Traders are free to make withdrawals from their account which will not affect their profit target to scale.
For example, if you make 12%, make a 12% withdrawal from your account and then make another 8% profit, you are still eligible to scale to the next level.
The Maximum Drawdown for the Instant accounts are static. This means that no matter the profit you are in, your Maximum Drawdown limit is always calculated from the initial account balance after scaling.
For example, if you have a $80,000 account.
For the Instant Standard Account:
$80,000 – 5% = $76,000 is the lowest equity your account can reach before violating this rule.
For the Instant Aggressive Account:
$80,000 – 10% = $72,000 is the lowest equity your account can reach before violating this rule.
If you violate this rule, the account will be closed.
The minimum time to scale to the next level of both the Instant Funding Accounts is 5 trading days. There must have been at least one trade opened on 5 different days to qualify to scale your account.
A trader may not reach the profit target with one large trade, then use significantly smaller lots to pass the minimum trading days. When the account is reviewed if there is a large difference in lot size used to pass minimum time rule the Challenge will be failed.
Trades must be fully executed trades, they can not just be opened and closed.
All accounts are traded on a demo account so we can manage our risk. Your funded account is connected to a real funded account from which you are paid.
To ensure trades can be copied effectively to the real account we can not tolerate any form of manipulation on any account.
Manipulation includes but not limited to:
Tick scalping – constantly opening and closing trades in less than 30 seconds. We realise sometimes trades are closed instantly for one reason or another, so if there are occasional trades that are opened and closed in less time we won’t close your account.
Arbitrage.
Hedging between accounts.
Delayed or frozen data feeds.
Unrealistic fills that don’t take into account slippage, where a huge lot size is used and closed within a small amount of pips.
Allowing others to trade your account.
Copying others trades.
Lot size manipulation – Traders cannot use a much smaller trade to pass the minimum days after hitting the profit target or to fill the minimum trading days. As a guide, the deviation can not be greater than a factor of 5. – Example 1: If your smallest lot size is 1 and your largest is 5 on similar assets, this is okay. – Example 2: If your smallest lot size is 0.1 and your largest is 5 on similar assets, this is not okay. – Example 3: If your trade 1 lot on EURUSD and hit your profit target and then trade 1 lot on LTCUSD to pass minimum days, this is not okay as LTC has a contract size of 1 while EURUSD has a contract size of 100,000. In this example, a 100 pip increase in LTCUSD would be equivalent to $10 but a 100 pip increase in EURUSD would be equivalent to $1,000. – Example 4: If you have 5 trades of EURUSD opened at the same time, each with a lot size of 1, your net position size is 5 Lots. Thus, if your smallest lot size is 0.5 lots, this is not okay.
Taking advantage of the Demo environment.
Traders cannot trade digital currencies over the weekend to pass the minimum days.
Traders may place an average of up to 10 trades per day.
A Trading day starts from 00:00 GMT +2 (+3 depending on daylight savings) and ends at 23:59 GMT +2 (+3). This is the time that is displayed in your Platform 4 / Platform 5.
The stop loss needs to be placed before the order is placed, whether that is a market or limit order, or else the system will close the order automatically.
This will be done at market price at the time and you will receive an email from us notifying you of the fact the trade has been closed.
Not having a stop loss is a soft rule and will not result in you automatically losing the account.
BluFX Alternative and Comparison. That’s what we are discussing in this video.
BluFX Vs Traders With Edge Maximum Account Size
Let’s jump straight into it. Up the top, we’ve got the Prop Firm and the Challenge Type. We’ve got the Traders with Edge Turtle, the Traders with Edge Hare account, the BluFX Lite package and the BluFX Pro account which are instant funding accounts. Traders With Edge now also offers Instant funding. Both of these firms offer an excellent trading platform for their traders.
Unfortunately, BluFX only offers either $25K or $50K instant funding accounts on their trading platform. The $25K is the lite package while the $50K is the pro account. It’s a bit hard to do a side-by-side comparison, but you can easily do the quick math and figure it out for yourself when it comes to the cost of the challenge.
BluFX Vs Traders With Edge Funded Account Scaling
Let’s kick it off with the max account size after scaling. Once you’re on a funded account and you’re a consistently profitable trader, what they’ll do is they’ll continue to add funds to your account up until a maximum cap.
Prop Firms have account scaling, but the ones that do will have a cap on it and that’s what this is referring to. Traders with Edge, you can trade up to $3 million with their challenges and up to $1.28 Million on their instant funding.
With the BluFX Lite package, they don’t have any scaling. With the BluFX Pro instant funding account, you do have scaling and can become a fund manager of up to $1 million on their trading platform.
Do they have rapid scaling? Traders with Edge is a prop firm that has rapid scaling and the BluFX Pro account has rapid scaling. Traders on the instant funding can scale to the next level on a weekly basis.
If you’re on the website traderswithedge.com, you go to Challenges, Scaling Plans. We’ve built a page that describes the difference between the organic scaling and the rapid scaling plans. There’s a video there that walks through it. There’s some examples. You can see some charts as to how much faster a rapid scaling grows than an organic or traditional-type scaling plan.
Further down the bottom of the page, you’ll see there’s another video and a calculator that we’ve built there for you. You can select your trading account size and you can go through and change the inputs of the calculator to see just how much more you would make with a rapid scaling account versus a traditional-type scaling account.
BluFX VS Traders With Edge Account Comparison
Back to our BluFX Alternative and Comparison, if we keep scrolling down, you’ll see the number of phases of the account. Traders with Edge Turtle account is a one-phase account. That means you trade for a period of time. When you pass the metrics that we’ll cover in a moment, you then go to a funded account and you’re eligible for a profit split.
Traders with Edge Hare is a two-phase account so there’s two steps that you’ve got to go through to receive trader funding. With the BluFX accounts, it’s instant funding so you do receive the account to trade straight away. However, when you look at the pricing model, it may or may not work out better in your favor, depending on how you like to trade.
BluFX offers traders a chance to become a fund manager once they have reached an account size of $1Million. Once a trader becomes a fund manager, they no longer have to pay the subscription fee. However, the subscription fee paid till this point would be substantial.
As a fund manager, traders also receive a salary from BluFX of $35,000 which is 3.5% of your managing funds. Although the thought of becoming a fund manager can be appealing, at Traders With Edge, you could be managing up to $3 Million after scaling.
Challenge Price Comparison: BluFX Vs Traders With Edge
The pricing equivalent in US dollars, it’s $750 for the Traders with Edge Turtle account, and that’s for a $100K account, remember? The Traders with Edge Hare account is $590 for the $100K account. The BluFX Lite instant funding account, it’s only a $25K account, but it’s a monthly subscription fee of $106. So if you multiply that by four, you’ll get how much you need to pay with BluFX and you need to pay that every month.
Traders with Edge, the $750 or the $590, it’s a one-time fee, not a monthly subscription fee, and it is refundable on the Traders with Edge Hare account. The BluFX Pro account is a $50K account, and has a monthly subscription fee of $267 per month. 267 times two you’ll end up with approximately $534 that you need to pay every month to trade an equivalent of a $100K account.
Is the fee refundable once you pass ?
Is the fee refundable? It’s not refundable with the Traders with Edge Turtle account. It’s because it’s a one-phase challenge and you can get funded within 10 days. Traders with Edge Hare account is a two-phase challenge.
It takes a little bit longer to get funded, but you do receive a refund once you are funded. So you go through the two phases of the challenge. When you’re eligible for your first payout, you then receive a refund of the $590 that you paid to do the challenge, along with your first payout.
BluFX is a prop firm that does not offer any refund at all because of the subscription that you need to pay for.
Trading Rules
Profit Target
Target for phase one, the target is 10% for the Turtle and 10% for the Hare. With the BluFX trading account, you’ve got a withdrawal target of 5%. Target for phase two is not applicable for the Traders with Edge Turtle because it’s a one-phase trading account. You’d already be funded.
The Traders with Edge Hare is a two-phase account. So for the second phase, you need to make 5% profit to pass and get funded. For the BluFX Lite package and the BluFX Pro instant funding accounts, it’s not applicable.
Drawdown
The maximum drawdown is 5% for the Traders with Edge Turtle. The maximum drawdown for the Traders with Edge Hare is 10%. BluFX Lite package is 10% and the BluFX Pro account is 10% also. The daily maximum drawdown is 2.5% on the Turtle. It’s 5% on the Hare and it’s not applicable on the BluFX instant funding account.
Profit Split and Payouts
Traders With Edge offer an 80% profit split. So what this means is if you’re trading a $100K account and you make $10K, you keep 80% of that, which is $8K. With BluFX, you keep just 50% of the profits. The profit split can be increased to 90% with customizations.
Traders at BluFX are offered weekly payouts to receive their profit split while traders at Traders With Edge are offered bi weekly payouts on their challenge accounts. However, traders at Traders With Edge can also enjoy weekly payouts to receive their profit split on their instant funding accounts.
Withdrawal Target
BluFX requires traders to hit a withdrawal target before profit split can be requested. The withdrawal target for both the lite and pro account is 5% meaning a 5% profit must be reached before a profit split can be requested. Traders With Edge also has a withdrawal target before being able to request a profit split depending on the payout method. The withdrawal target is either $100 or $200.
Trading Days
The minimum trading days for phase one is 10 minimum trading days for Traders with Edge. It’s not applicable with the BluFX. Minimum trading days for phase two is only applicable to the Traders with Edge Hare trading account and the minimum trading days is 10 days.
The trading period for phase one for a Turtle account, it’s 365 days so you’ve got a full year to pass. With the Traders with Edge Hare account you’ve got 30 days to pass. BluFX, it’s not applicable once again. Trading period for phase two, you’ve got 60 days to pass the Traders with Edge Hare account for phase two.
Can I use an EA for my BluFX or Traders With Edge Challenge?
Can you use EAs? Yes, you can use EAs with approval from Traders with Edge. Just contact us first. Once approved, you’re good to go.
Other Rules of BluFX and Traders With Edge
Can you hold over weekends? Yes, you can hold over weekends with the Traders with Edge Turtle account. You cannot hold over weekends with any of the other accounts. Do they allow signals for trading? Yes, Traders with Edge allows signals. BluFX does not. Can you trade news? Yes, you can on both companies, all accounts.
Do you get a free retry? You don’t get a free retry on the Turtle account or the BluFX accounts. It doesn’t make sense because you’d already be on a funded account. The Traders with Edge Hare account, yes, you do get a free retry. How this works is if the time expires on a challenge phase, your account is in profit and you didn’t violate any rules, then you’re eligible for a free retry and that will automatically come out to you.
Traders on funded accounts that resulted from a challenge account are able to request payouts from Traders With Edge on a bi weekly basis. BluFX allows their traders to request payouts on a weekly basis. Traders on the Instant Funding accounts at Traders With Edge can also request payouts on a weekly basis.
Trading Products offered by Traders With Edge and BluFX
Traders With Edge and BlueFX offer many different trading products for traders to trade. Can you trade Forex? Yes, you trade all Major and Minor forex trading products on the Traders With Edge and BluFX trading platform.
Can you trade digital currencies? Yes, you can on Traders with Edge. You cannot on BluFX. Can you trade commodities? Yes, you can on all accounts. Can you trade indices? You can on Traders with Edge. You cannot on BluFX. Can you trade share and stock CFDs? Yes, you can on Traders with Edge. You cannot on BluFX.
Competitions and Giveaways
Do they have trading competitions? Traders with Edge has trading competitions from time to time. You can go to the website, you sign up, you then trade against other traders online. The top traders typically win a free challenge account.
Do they have giveaways? Yes. Traders with Edge have giveaways. An example of a giveaway that we ran recently, you could enter your name and email address and potentially win one of three $50K Prop Challenge accounts.
That’s just an example of a giveaway that we’ve run recently. It doesn’t mean that this giveaway is active at the time of making this video. Just check on the website to see if we have any giveaways at the time.
Do they have trader education? Traders with Edge do, yes. BluFX does not.
Affiliate Program Comparison
Do they have an affiliate program? Traders with Edge has an affiliate program. If you refer someone to us, we’ll pay you up to 20% of what they spend at Traders with Edge for the lifetime of the referral. If you refer someone today and they make a purchase in one year’s time or three years’ time, then it’s kind of like having a passive income where we will pay you commission on that referral.
BluFX has an affiliate program. It pays 10% and we believe that’s one time so they’ll only pay you for the first referral. For additional information contact either prop firm via email or through their live chat.
Conclusion
That concludes our alternative to BluFX and the review. As you can see, traders have many different account options and trading products to trade at both of these firms who also offer a great trading platform. If you’ve got any questions or require any additional information, please go to the website traderswithedge.com. You can also speak to us on live chat for additional information, or leave a comment below the video and have an awesome day.
BluFX is a prop firm offering a subscription model in return for instant account funding. It started in 2015 and it has been getting quite a lot of attention in the recent months within the industry.
Yu Song, the founder of BluFX, believes that the longer you trade, the better your chances of success. Even if you’re not the most talented trader, if you can afford to keep trading, you’ll have a better chance of succeeding.
For this reason, he created a platform that maximized access to real trading. A process of allowing better traders to rise and receive support. A platform where everyone is equal and can compete on the same basis regardless of background or wealth.
He recruited a like minded team and they created and maintained a mutually beneficial eco-system generating greater value for both traders and the firm.
