BluFX vs Funded Trading Plus

Comparative Overview

When choosing a proprietary trading firm, traders seek conditions that align with their trading strategies and financial goals. In this comparative review, we'll delve into BluFX and Funded Trading Plus, inspecting their offerings, pros and cons, and critical rules that could influence a trader's decision.

BluFX Overview

As a prop firm established in June 2017, BluFX offers a straightforward Funded Trader Program designed for traders looking to scale their operations. Traders can work with a $10,000 account, focusing on commodities as their choice of tradeable instruments. Despite the smaller account size, BluFX may cater to those looking to dip their toes into the prop firm environment or who have a specialized focus on commodities trading.

Funded Trading Plus Overview

Funded Trading Plus, while a newcomer with its inception in November 2021, offers an expansive range of trading opportunities with four funding programs, allowing traders to handle capital up to $2,500,000. Traders get a broad spectrum of instruments to trade, including forex, commodities, indices, cryptocurrencies, and metals. The firm's standout feature is the high-profit split of up to 90% and the lack of trading day restrictions, opening the gates for more freedom in trading strategies.

Comparing Advantages

While BluFX is less transparent about its pros within the provided context, Funded Trading Plus clearly positions itself as a versatile prop firm. Their high-profit split ratio, a wide array of tradeable instruments, and flexible trading rules—including news trading and no restrictions on overnight positions—make them an attractive destination for serious traders. Their stellar 4.9/5 Trustpilot rating, combined with options to scale and excellent support, adds to their credibility and appeal.

Comparing Disadvantages

When examining the drawbacks, Funded Trading Plus's higher commission costs on forex pairs could be a deterrent for those heavily trading currencies, potentially eating into profits. The leverage cap at 1:30 may not satisfy traders looking for higher-risk, higher-reward scenarios. Additionally, the Trailing Drawdown requirement might put off traders who prefer total control over their equity management, without the fear of breaching a drawdown limit that trails their account equity.

Operational Rules and Conditions

Traders must adhere to specific rules, which are more stringent for Funded Trading Plus, including a Maximum Daily Loss, Maximum Trailing Drawdown, No Weekend Holding, Profit Target, and prohibitions on third-party copy trading and EA risk. BluFX’s rules are not outlined, but typically a Funded Trader Program has its own set of regulations that potential users have to examine closely.

Financial Transactions

In the domain of financial transactions, both firms are on a par with the acceptance of credit/debit cards. However, Funded Trading Plus shows versatility by also allowing deposits in cryptocurrencies and withdrawals via crypto and Deel – catering to the modern trader’s preference for diverse and rapid transaction methods.

Account Offerings

While BluFX offers a single account size of $10,000 for commodities trading, Funded Trading Plus gives traders much larger potential capital to work with, alongside a broader range of instruments including forex and indices. This provides an attractive proposition for traders seeking variety and the possibility to scale their operations significantly.

Currency and Instrument Diversity

BluFX offers accounts in both USD and GBP, which may resonate well with a European audience. In contrast, Funded Trading Plus’s account offering is in USD only, which is standard in the industry and widely accepted globally. However, Funded Trading Plus overtakes BluFX in diversity with its wider selection of tradeable instruments.

Conclusion

Retail traders and potential users should weigh the advanced resources and higher capital potential of Funded Trading Plus against the simplicity and potentially lower entry barriers of BluFX. The specific needs, trading style, and risk tolerance of the individual will heavily dictate which firm stands out as the superior choice. It is imperative for traders to carefully analyze the detailed terms and conditions of each firm's offering to ensure alignment with their trading objectives.