Bulenox
One price and two floors, chosen at checkout. Option 1 trails live equity — "trailing for realized and non-realized gains" — and Option 2 moves only "when the profit is made at the end of the trading day". Both stop at the starting balance +$100, and both sentences saying so are labelled for the Master Account: during the challenge the firm's own example reads "The maximum drawdown will always move $3,000 from the highest account balance." The split is among the best read here, the first $10,000 at 100% and 90% after.
The stage the firm calls real capital is the one it did not write down: the Funded Account page is five sentences and publishes balance caps and nothing else — no drawdown, no daily limit, no split, no consistency rule, no minimum. Refusing to go there costs the money already earned: "If Trader does not consent to transition to a Funded Account, the Master Account shall be closed, and no reward payout will be issued." On a $25,000 Master the first three payouts are capped at $1,000, which is also the minimum, so each can only ever be exactly one thousand dollars. The $10,000 size has a daily limit, a contract ladder and a $98 activation fee, and appears in no drawdown, withdrawal, reserve or balance-cap table. The Terms of Use contain the word "drawdown" zero times in forty thousand characters.
Not enough published data to simulate this firm’s floor.
We read this firm plan by plan, and its numbers are published — they live in the derived evidence on its card, not in the five-axis sieve the tiers are ranked on. The grade here is the evidence itself: three answers and a payment-promise score, each computed from the firm’s own documents with a citation behind every input. What it does not have is the hand-written scorecard a tier requires.
Graded from the evidence
Can you even pass?
2/5
Can you keep the money?
1/5
Is anyone behind it?
3/5
What they published
“The trailing or EOD drawdown stops moving when the trailing or EOD drawdown reaches the initial starting balance +100.”“The maximum drawdown will always move $3,000 from the highest account balance.”“If Trader does not consent to transition to a Funded Account, the Master Account shall be closed, and no reward payout will be issued.”Plan by plan
2 of this firm’s challenges were read plan by plan, with a citation behind every answer. See them side by side →
The threshold "will always follow the current balance" and counts unrealised gains, so an open position drags the floor up behind it and can breach it "at any given time, including open positions". It does lock at the starting balance +$100 — but that sentence is written for the Master Account, and the challenge has no published stop.
The threshold moves only when the closing balance sets a new high, and the firm's own three-day example proves it: a day that closes lower leaves it untouched. The price is a daily loss limit — $2,200 on a $100,000 — and a contract ladder that starts at two where the shop card advertises three. What is never stated is what BREACHES the floor: the section defines the update clock three ways and the breach clock none.
Trustpilot
We found no Trustpilot profile for this firm.
What this firm published
Everything below is quoted from a page we opened, on the date shown. The quotes are in the firm’s own language, exactly as published — never edited, never shortened, never swapped for a translation. On the Spanish edition our own rendering appears underneath each one, unquoted and marked as ours: the quotation marks on this site mean the words are the firm’s, and nothing we wrote ever wears them. Where we have not read enough to put a number on an axis, we say so instead of guessing.
2/5
Can you even pass?
Almost nobody who pays for an evaluation ever reaches a funded account, so this is the part of the product most customers actually buy. Every firm advertises its profit target; none of them advertises that target next to how much you are allowed to lose while chasing it.
1/5
Can you keep the money?
The drawdown takes the account away; the payout rules take the money. Answered by whichever of the two we can measure and is worse — they are two ways of losing the same thing, so a good half cannot pay for a bad one.
3/5
Is anyone behind it?
A named company, a market, and rules you could read before paying. These three do not substitute for one another — a company you can sue does not stop existing because the account is a simulation — so this is the average of the ones we could measure, not the worst.
How hard the test is
Not the profit target on the sales page — that target measured against the room you are given to reach it.
How much you must win to surviveThey do not say.0/8
we read the page that should answer this and it does not
A profit target only means something next to the room you are given to reach it. Ten per cent to make against ten to lose is a coin flip sold as an exam.
Days you have to finishThey state there is none.3/3
“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 deadline turns a test of skill into a test of whether the market happened to move during your month.
Trading days you must put in1 days2/2
“Make sure that the profit target on your account has been reached and you have at least 1 trading day.”Cuts both ways: it costs you time, and it also stops an account passing on one lucky afternoon you could never repeat.
A second attempt costsa second attempt is discounted1/2
“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.”A free second attempt turns one bad week into a delay instead of another invoice.
Profit targetThey do not say.—
we read the page that should answer this and it does not
Maximum loss
The loss limit that closes your account. Does it sit still, or does it climb behind you as you win?
What makes the loss limit riseit rises tick by tick, while you tradeno changeThey do not say.0/3
“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 trailing rules for the Master Account are the same as for the Qualification Account, except that there is no option to reset the account.”we read the page that should answer this and it does not
A limit that climbs takes back the cushion you already earned.
Where the limit stops risingsomewhere above your starting balance1.50/3
“The trailing or EOD drawdown stops moving when the trailing or EOD drawdown reaches the initial starting balance +100.”The difference between a danger with an end date and one that never ends.
What the limit is measured againstlive equity, open trades includedno changeThey do not say.0/2
“This means that the maximum you can lose is $3,000 from the maximum profit point at any given time, including open positions.”“The trailing rules for the Master Account are the same as for the Qualification Account, except that there is no option to reset the account.”we read the page that should answer this and it does not
Decides whether a trade that dips and recovers can close an account that ended the day green.
What taking a payout does to the limitThey do not say.0/2
we read the page that should answer this and it does not
Taking your money out should not leave you closer to losing the account.
Daily limitThey do not say.no changeno change0/2
we read the page that should answer this and it does not
we read the page that should answer this and it does not
we read the page that should answer this and it does not
A generous percentage measured on live equity is not generous — it is the same number with a trapdoor under it.
Total loss allowed3%no changeThey do not say.0/1
“A Trader has an account of $100,000 for 12 contracts, has a maximum trailing drawdown of $3,000.”“Trailing and EOD Drawdown Amount (TDA): $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”we read the page that should answer this and it does not
How much room you have. Worth little, because almost every firm offers the same.
Withdrawing
How much can leave the account, how soon, how often — and whether they can say no.
Withdrawals before the account endsThey publish no ceiling.3/3
we read the page that should answer this and it does not
The cap per withdrawal times how many they allow is the real size of the account. One plan here is sold on a $200,000 banner and closes after five withdrawals of $2,100.
What else a payout changesthe account ends0/3
“Upon the completion of three (3) successful payouts under a Master Account, and subject to the sole discretion of the Risk Management Department, qualified Traders shall transition to a Funded Account, thereby permitting them to trade with real capital.”The floor is not the only thing a withdrawal moves, and the rest of it is never on the same page. Position size, the consistency rule and the share you are paid all reset or shift at some firms, and a trader who checked only the drawdown finds out afterwards.
What breaking the consistency rule costsThey state there is none.it delays the payoutThey do not say.0/3
“We have a Consistency rule on the Master Accounts which apply toward every payout.”“Finally, if Consistency rules are not met, payout cannot be processed. However, it will not violate the account.”we read the page that should answer this and it does not
Weighted by what it costs, not by existing: reading plan by plan, no consistency rule ever closed an account — they postponed the withdrawal.
Can it refuse without giving a reasonyes — it reserves that right in writing0/3
“If abuse is suspected, we reserve the right to refuse to claim any profit.”“We may decline for any reason” is not a rule, it is the absence of one — it makes every other number on this axis conditional on goodwill.
Days before you can ask for money10 days2/2
“The request for any payout can be processed after Trader has completed at least ten (10) individual trading days.”How long your money is theirs.
Most one withdrawal can pay you1.0% of the account, at worst0/2
“The minimum withdrawal is $1,000. The maximum withdrawal amount applies to the first three payouts only and depends on the account size: $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”$2,000 is generous on a $25K account and a joke on a $200K one, so it is measured as a share and at the worst size sold.
Does that cap rise with the accountThey do not say.0/2
we read the page that should answer this and it does not
Fee charged to pay youThey do not say.0/1
we read the page that should answer this and it does not
What they charge you to pay you.
Profit required before the first request
How you may trade
Can you trade the way you actually trade — around the news, over the weekend, at the size and speed you use?
Restriction around the newsThey do not say.—
we read the page that should answer this and it does not
Mandatory stop-lossThey do not say.—
we read the page that should answer this and it does not
Minimum time a trade must be heldThey do not say.—
we read the page that should answer this and it does not
Forced close before the weekendnothing may stay open over the weekend—
“The trading day starts at 5:00 pm and ends at 4:00 pm the following day, North American Central Time (CT). Holidays and weekends do not count as a trading day. All positions must be closed before 15:59 (CT).”LeverageNo such thing in this plan.—
“A trader can trade both standard and micro contracts at the same time. 1 standard contract is equivalent to 10 micro contracts.”Limit on position sizeThey do not say.—
we read the page that should answer this and it does not
No score here, on purpose. The six axes above ask whether the firm can take your money or refuse to pay it. These rules ask something else — whether you can trade your way — and the right weight depends on who is reading: a minimum holding time decides the account for a scalper and is invisible to anyone else, while the weekend rule is the reverse. A single number would be wrong for half of you, and would look decided. The firm’s own sentences are here; the judgement is yours.
How it grows
What makes the account get bigger, how big it can get, and whether the path ends at a real market or at a larger simulation.
What makes the account growThey state there is none.—
“Option 1: No Scaling Account (Trailing Drawdown)”How large it can get$25,000by starting size
—
by starting size
“To maintain a balanced trading environment, the following balance caps shall be enforced for all Funded Accounts, effective April 28, 2025: 25K Funded Account - $2,500 50K Funded Account - $5,000 100K Funded Account - $10,000 150K Funded Account - $15,000 250K Funded Account - $25,000”Where the path endsat a real market—
“Upon the completion of three (3) successful payouts under a Master Account, and subject to the sole discretion of the Risk Management Department, qualified Traders shall transition to a Funded Account, thereby permitting them to trade with real capital.”One of these questions is scored and it is not here. “Does the cap rise with the account” sits on the cash axis, next to the cap itself, because it has a right answer: a bigger account that pays the same cheque has handed you a larger number and the same money. The three below are different. A two-million ceiling is the whole point of the product for one reader and irrelevant to someone who wants one clean payout, so the firm’s sentences are here and the weight is yours.
How hard the test is
Not the profit target on the sales page — that target measured against the room you are given to reach it.
How much you must win to surviveThey do not say.0/8
we read the page that should answer this and it does not
A profit target only means something next to the room you are given to reach it. Ten per cent to make against ten to lose is a coin flip sold as an exam.
Days you have to finishThey state there is none.3/3
“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 deadline turns a test of skill into a test of whether the market happened to move during your month.
Trading days you must put in1 days2/2
“Make sure that the profit target on your account has been reached and you have at least 1 trading day.”Cuts both ways: it costs you time, and it also stops an account passing on one lucky afternoon you could never repeat.
A second attempt costsa second attempt is discounted1/2
“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.”A free second attempt turns one bad week into a delay instead of another invoice.
Profit targetThey do not say.—
we read the page that should answer this and it does not
Maximum loss
The loss limit that closes your account. Does it sit still, or does it climb behind you as you win?
What makes the loss limit riseit rises with the day's closing balanceno changeThey do not say.0/3
“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 drawdown will always follow the balance at end of the day, which is equal to your profit.”we read the page that should answer this and it does not
A limit that climbs takes back the cushion you already earned.
Where the limit stops risingsomewhere above your starting balance1.50/3
“After Qualification, for Master Account: The EOD stops moving when the EOD reaches the initial balance +$100.”The difference between a danger with an end date and one that never ends.
What the limit is measured againstThey do not say.no changeno change0/2
we read the page that should answer this and it does not
we read the page that should answer this and it does not
we read the page that should answer this and it does not
Decides whether a trade that dips and recovers can close an account that ended the day green.
What taking a payout does to the limitThey do not say.0/2
we read the page that should answer this and it does not
Taking your money out should not leave you closer to losing the account.
Daily limit2.2%, measured on live equity, open trades includedno changeThey do not say.0/2
“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”“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.)”we read the page that should answer this and it does not
A generous percentage measured on live equity is not generous — it is the same number with a trapdoor under it.
Total loss allowed3%no changeThey do not say.0/1
“A Trader has an account of $100,000 for 12 contracts, has a maximum drawdown of $3,000. In this case, if your account drops to $97,000, then the account will be blocked.”“Trailing and EOD Drawdown Amount (TDA): $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”we read the page that should answer this and it does not
How much room you have. Worth little, because almost every firm offers the same.
Withdrawing
How much can leave the account, how soon, how often — and whether they can say no.
Withdrawals before the account endsThey publish no ceiling.3/3
we read the page that should answer this and it does not
The cap per withdrawal times how many they allow is the real size of the account. One plan here is sold on a $200,000 banner and closes after five withdrawals of $2,100.
What else a payout changesthe account ends0/3
“Upon the completion of three (3) successful payouts under a Master Account, and subject to the sole discretion of the Risk Management Department, qualified Traders shall transition to a Funded Account, thereby permitting them to trade with real capital.”The floor is not the only thing a withdrawal moves, and the rest of it is never on the same page. Position size, the consistency rule and the share you are paid all reset or shift at some firms, and a trader who checked only the drawdown finds out afterwards.
What breaking the consistency rule costsThey state there is none.it delays the payoutThey do not say.0/3
“We have a Consistency rule on the Master Accounts which apply toward every payout.”“Finally, if Consistency rules are not met, payout cannot be processed. However, it will not violate the account.”we read the page that should answer this and it does not
Weighted by what it costs, not by existing: reading plan by plan, no consistency rule ever closed an account — they postponed the withdrawal.
Can it refuse without giving a reasonyes — it reserves that right in writing0/3
“If abuse is suspected, we reserve the right to refuse to claim any profit.”“We may decline for any reason” is not a rule, it is the absence of one — it makes every other number on this axis conditional on goodwill.
Days before you can ask for money10 days2/2
“The request for any payout can be processed after Trader has completed at least ten (10) individual trading days.”How long your money is theirs.
Most one withdrawal can pay you1.0% of the account, at worst0/2
“The minimum withdrawal is $1,000. The maximum withdrawal amount applies to the first three payouts only and depends on the account size: $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”$2,000 is generous on a $25K account and a joke on a $200K one, so it is measured as a share and at the worst size sold.
Does that cap rise with the accountThey do not say.0/2
we read the page that should answer this and it does not
Fee charged to pay youThey do not say.0/1
we read the page that should answer this and it does not
What they charge you to pay you.
Profit required before the first request
How you may trade
Can you trade the way you actually trade — around the news, over the weekend, at the size and speed you use?
Restriction around the newsThey do not say.—
we read the page that should answer this and it does not
Mandatory stop-lossThey do not say.—
we read the page that should answer this and it does not
Minimum time a trade must be heldThey do not say.—
we read the page that should answer this and it does not
Forced close before the weekendnothing may stay open over the weekend—
“The trading day starts at 5:00 pm and ends at 4:00 pm the following day, North American Central Time (CT). Holidays and weekends do not count as a trading day. All positions must be closed before 15:59 (CT).”LeverageNo such thing in this plan.—
“A trader can trade both standard and micro contracts at the same time. 1 standard contract is equivalent to 10 micro contracts.”Limit on position size2 · 2 · 3 · 5 · 6—
“$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)”No score here, on purpose. The six axes above ask whether the firm can take your money or refuse to pay it. These rules ask something else — whether you can trade your way — and the right weight depends on who is reading: a minimum holding time decides the account for a scalper and is invisible to anyone else, while the weekend rule is the reverse. A single number would be wrong for half of you, and would look decided. The firm’s own sentences are here; the judgement is yours.
How it grows
What makes the account get bigger, how big it can get, and whether the path ends at a real market or at a larger simulation.
What makes the account growprofit—
“EOD Dynamic Scaling Plan Your EOD Scaling buying power determined by the Cash On Hand value. As your account profit increases, you can trade more or fewer contracts.”How large it can get$25,000by starting size
—
by starting size
“To maintain a balanced trading environment, the following balance caps shall be enforced for all Funded Accounts, effective April 28, 2025: 25K Funded Account - $2,500 50K Funded Account - $5,000 100K Funded Account - $10,000 150K Funded Account - $15,000 250K Funded Account - $25,000”Where the path endsat a real market—
“Upon the completion of three (3) successful payouts under a Master Account, and subject to the sole discretion of the Risk Management Department, qualified Traders shall transition to a Funded Account, thereby permitting them to trade with real capital.”One of these questions is scored and it is not here. “Does the cap rise with the account” sits on the cash axis, next to the cap itself, because it has a right answer: a bigger account that pays the same cheque has handed you a larger number and the same money. The three below are different. A two-million ceiling is the whole point of the product for one reader and irrelevant to someone who wants one clean payout, so the firm’s sentences are here and the weight is yours.
The rules in writing
Could you read the rule before paying, and can they change it afterwards?
Where the rule that binds you is publishedin a help-centre article the contract never mentions1.20/4
“Supplemental terms and conditions or documents that may be posted on the Sites from time to time, are hereby expressly incorporated into this Agreement by reference.”If the rule that binds you lives in a help article your contract never mentions, you did not sign it.
Can it change the rules without noticeyes, and it says so0.60/3
“Company reserves the right at any time to modify or discontinue, temporarily or permanently, the Company Services (or any part thereof) with or without notice.”The clause that makes every dated verdict perishable, including ours. Near-universal, so not fatal.
Is the binding document datedyes2/2
“Updated July 2021”Without a date you cannot tell whether the rule you read is the rule they apply.
Two official pages that disagree
whether the account reaches a real market · costs credibility
“Bulenox LLC is involved in general training for traders and investors. All Content and data are provided for general information only. The purpose of the company is to select and develop talents. The company offers an incentive-based form of compensation that can be paid to traders or investors. Bulenox LLC does not provide live trading.”“Upon the completion of three (3) successful payouts under a Master Account, and subject to the sole discretion of the Risk Management Department, qualified Traders shall transition to a Funded Account, thereby permitting them to trade with real capital.”the account size or the speed · costs money
“Trader could have unlimited Qualification Accounts and up to 11 active Master 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 on one of the three previously activated accounts.”the payout terms · costs credibility
“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.”“All traders who trade and receive payments on the Master account are independent contractors. Form 1099-NEC Non-Employee Compensation will be sent for US citizens or W-8BEN for citizens of other countries.”the account size or the speed · costs credibility
“There are no minimum trading days requirement to get Master account.”“Make sure that the profit target on your account has been reached and you have at least 1 trading day.”The company behind it
If it goes wrong, which company do you claim against, and under whose laws?
The company you contract withBulenox LLCno changeno change4/4
“This Terms of Use Agreement ("Agreement"), along with our Company Privacy Policy, constitutes a legally binding agreement made between you, whether personally or on behalf of an entity ("user" or "you") and Bulenox LLC and its affiliated companies, Websites, applications and tools (collectively, Bulenox LLC, "Company" or "we" or "us" or "our"), concerning your access to and use of the Bulenox.com Website(s)”“Bulenox LLC 1201 N Orange St, Suite 7149 Wilmington, DE 19801”With no named company there is nobody to sue.
Where it is registeredwe did not read this stageDelawarewe did not read this stage1/2
“This Agreement and all aspects of the Sites and Company Services shall be governed by and construed in accordance with the internal laws of the State of Delaware, without regard to conflict of law provisions.”A claim in the Czech Republic and a claim in St Vincent are not the same claim.
Its registration numberThey do not say.no changewe did not read this stage0/2
we read the page that should answer this and it does not
What turns a name into something checkable in a public register.
That company owns the brandyes2/2
“The content on the Sites ("Bulenox LLC Content") and the trademarks, service marks and logos contained therein ("Marks") are owned by or licensed to Bulenox LLC, and are subject to copyright and other intellectual property rights under United States and foreign laws and international conventions.”Signing with a company other than the brand’s owner separates who sold to you from who answers to you.
The people behind it are namedThey do not say.0/2
we read the page that should answer this and it does not
Named people can be looked up. A company on its own cannot always be.
Almost no firm here has a financial regulator, because selling simulated evaluations is not a regulated activity anywhere. Of the 114 firms we scored by hand, 96 sat in the bottom two rungs of backing for this reason. So we do not count it against anyone — it only adds when a firm genuinely has one.
The market
Do your orders reach a market, or is all of it a simulation?
What the funded account issimulated, with a published route to a live stage2/4
“Upon the completion of three (3) successful payouts under a Master Account, and subject to the sole discretion of the Risk Management Department, qualified Traders shall transition to a Funded Account, thereby permitting them to trade with real capital.”The question that separates a firm that earns when you lose from one that earns when you last.
Conditions to reach a real marketpublished2/2
“Upon the completion of three (3) successful payouts under a Master Account, and subject to the sole discretion of the Risk Management Department, qualified Traders shall transition to a Funded Account, thereby permitting them to trade with real capital.”Promising a route to a real market without publishing the conditions is promising nothing.
Almost none names a broker or a clearing house either, and that follows from the account being a simulation rather than being a second, separate failing. Charging for both would count one fact twice.
We read the rules of every plan it sells and issued a verdict on each one.