Bulenox review
Delaware-registered futures prop firm on Rithmic, selling evaluations since 2021
- CEO
- Not disclosed
- Headquarters
- United States
- Founded
- 2021
- In business
- 5 years
- Trustpilot
- 4.7(1.8K)
United StatesWork at Bulenox? Claim this profile
Our grade
Good
6.8 / 10 · #7 of 34
4.7
Trustpilot
1.8K reviews
- 5★90%
- 4★5%
- 3★1%
- 2★0%
- 1★4%
Applies Bulenox's best current discount to Qualification, Fast Track and Momentum accounts (percentage not stated by the firm)
Standing code with no end date: the pricing page calls it an always-on coupon that never expires, and the site banner says it applies the best available discount at checkout. Independent trackers reported 89% off Qualification Option 1, 75% off Option 2 and 40% off Fast Track and Momentum in early October 2026.
Bulenox is one of the cheapest ways into a futures funded account: with its always-on BULENOX code a 50K evaluation costs a fraction of its $175 list price, there is no minimum day count and news trading is open. The catch sits after you pass. Every Master payout needs 10 trading days, a safety reserve, a 40% consistency check and survives a 'flipping' review that is written into the Master Agreement but missing from the public help center. Bulenox pays thousands of traders every Wednesday, yet a steady share of its 1-star reviews are payouts refused on that unpublished rule.
Cheap futures evaluations with real payouts, but an unpublished flipping rule decides who gets paid
Our verdict
Bulenox is built for traders who want lots of cheap shots at a futures account. List prices run $145-$325 for a Qualification, the always-on code cuts them further, there is no minimum day count, news is open, and the first $10,000 you withdraw is yours in full. The new Momentum and Fast Track products, launched in August 2026, add a no-activation-fee path and same-day payouts for traders who prefer paying more upfront.
The problems start at the payout desk. Master payouts need 10 trading days, a $1,600-$4,600 reserve, a 40% consistency ratio and small caps for the first three requests, and on top of that Bulenox reviews each request for 'flipping', a clause in its Master Agreement with no published threshold. Since mid-2025 that clause is the most specific grievance in its negative reviews, and independent sites such as PropFirmCircle and BestForex.io now flag it. The move to a live account is also at the firm's discretion and does not carry over profits.
Plenty of traders do get paid every Wednesday, and Bulenox has operated since 2021 without a payout freeze. If you trade real size every day, keep your best day small and read the Master Agreement before passing, it can be a low-cost source of payouts. If you want predictable rules you can check yourself, firms that publish every payout condition are a safer bet.
Best for
Intraday futures traders who trade meaningful size every day, want very cheap evaluations and can live with weekly payouts and several consistency checks.
Avoid if
You need overnight holds, trade on a Mac or TradingView, or want every payout condition published before you buy.
Pros
- Always-on BULENOX code applies the firm's best discount; trackers report up to 89% off a Qualification
- No minimum trading days to pass a Qualification or Momentum evaluation
- First $10,000 in payouts per trader is 100% yours, then 90%
- News trading allowed on every program with no blackout windows
- Choice of real-time trailing or end-of-day drawdown, with a daily loss that pauses rather than fails the account
- Same-day payout processing on Fast Track and Momentum accounts
- 20+ platforms through Rithmic, with a free NinjaTrader licence on Master Accounts
Cons
- Payouts can be refused under a 'flipping' clause that is not in the public help center
- Master payouts need 10 trading days each and are capped at $1,000-$2,000 for the first three
- Separate $143-$498 activation fee after passing a standard Qualification
- Intraday only: no overnight or weekend positions
- Move to a live Funded Account is discretionary and resets profits
- No Tradovate, TradingView or macOS support; Rithmic is Windows-only
- Ownership and management are not disclosed
Bulenox scorecard
The same measured facts for every firm
Weighted score 6.8/10 → grade B
Methodology →- Payouts 25%7.7
- Payout complaints
- 1.6 per 100 reviews
- Positive payout mentions
- 98%
- Transparency 15%4.8
- Rule disputes
- 2 per 100 reviews
- Shares verified data with us
- No
- Publishes its own pass rates
- No
- Profile claimed by the firm
- No
- Names who runs it
- No
- Rules & trading conditions 20%6.5
- Typical $100K price
- No $100K account
- Top profit split
- 100%
- Static drawdown option
- No
- Consistency rule
- Applies
- News trading
- Allowed
- No time limit
- Yes
- Fee refunded
- No
- Reputation 20%7.4
- Trustpilot score
- 4.7 / 5
- Recent 1-2★ reviews
- 8% of the latest
- Years in business
- 5 years
- Trustpilot reviews
- 1,805
- Platforms & execution 10%7.0
- Trading platforms
- 3
- Execution complaints
- 2.6 per 100 reviews
- Support 10%7.2
- Support complaints
- 2.9 per 100 reviews
- Reviews praising support
- 47%
Bulenox firm overview
Platforms, markets, company and costs
- Platforms
- Rithmic
- NinjaTrader
- Quantower
- Markets
- Futures
- Indices
- Commodities
- Energies
- Metals
- Crypto
- Forex
- Profit split
- 90% to 100%
- Max allocation
- $750,000
- Leverage
- Contract caps of 2-15 minis (20-150 micros) by account size and drawdown option
- Commissions
- All-in per side: $2.09 on ES/NQ/RTY/YM ($4.18 round turn), $0.61 on micro indices, $2.26 on CL, $2.31 on GC, $2.36 on FX futures, $2.76 on Micro Bitcoin (rate sheet of Aug 11, 2026); commissions count toward drawdown
- Scaling plan
Option 2 (EOD) accounts scale contracts with cash on hand, e.g. the 50K goes from 2 to 4 to 7 minis as profit passes $1,500 and $4,000, and drops back if profit falls. After three payouts a Master or Fast Track account may be moved to a live Funded Account at Bulenox's discretion, with up to five Master-level accounts ($750,000) per trader.
- Broker and data
- Rithmic (data and order routing, Rithmic Paper Trading for simulated accounts)
- NinjaTrader (platform partner, free licence on Master Accounts)
- Company
- Bulenox LLCWilmington, Delaware, United States · founded 2021
- CEO
- Not disclosed
Payment and payout methods
How you pay for a challenge and how you get paid
Pay for a challenge with
- Credit card
- Debit card
- PayPal
- Crypto
Get paid with
- ACH transfer
- Wire transfer
- PayPal
Master: weekly, every Wednesday. Fast Track and Momentum: same day for weekday requests before 12:01 PM CT. Payout details
Bulenox pass rate
How hard is it to pass?
Challenge pass rate
10%
~10% (our estimate, not published by Bulenox)
Bar = this firm · line = average of the 34 firms we grade (14%)
Bulenox publishes no pass or payout rate. Its Qualification asks for a 6% target under a real-time trailing drawdown of 3-6%, comparable in difficulty to 2-step CFD challenges for which firms have disclosed roughly 10% pass rates, so we estimate about 10% of Qualification and Momentum attempts reach a Master Account. Fast Track has no evaluation; the share of Master traders who reach a payout is lower still and not disclosed.
Basis: Our estimate from the challenge rules
Who is Bulenox for?
Fit by trading style
Beginners
OK with caveatsDiscounted evaluations are cheap to retry, but Rithmic setup, the activation fee and the 10-day payout rules are a lot to learn.
Experienced traders
OK with caveatsUp to five Master-level accounts and 100% of the first $10,000 are attractive, if you accept the flipping review and discretionary live transition.
Swing traders
Poor fitEvery position must be closed by 3:59 PM CT and overnight or weekend holding is banned.
Scalpers
Good fitNo minimum hold time, news is open and micro contracts cost $0.61 per side, though trailing drawdowns punish give-backs.
EA & algo traders
OK with caveatsPersonal bots and copiers are allowed, but third-party API access costs $100 a month and high-frequency algos are barred.
News traders
Good fitCPI, FOMC and NFP are open on every program with no blackout window.
About Bulenox
Founded 2021 · Wilmington, Delaware, United States
Bulenox LLC is a futures prop firm registered at a Wilmington, Delaware business address. Its domain dates from December 31, 2020, the site went live in mid-2021 and its Trustpilot profile was claimed in May 2021, although many directories give 2022 as the launch year. The firm does not name its founders, owners or chief executive, and its site was designed by the agency Capfinex. Support runs through a help desk, live chat and support@bulenox.com.
Bulenox runs on Rithmic, which supplies data and simulated order routing, and lets traders connect more than 20 front ends including NinjaTrader, Quantower, Sierra Chart and ATAS. For years it sold monthly Qualification subscriptions with a one-time Master activation fee and weekly Wednesday payouts. On August 17, 2026 it switched new Qualifications to one-time 30-day purchases, added Momentum (a one-step evaluation with a free Master) and Fast Track (a direct funded-style account), and stopped selling the $250K size.
The firm publishes no total payout figure, pass rate or headcount. Its Trustpilot profile holds 1,805 reviews at 4.7 stars, PropFirmMatch does not list it, and PropFirmCircle rates it Not Recommended over the flipping clause and undisclosed ownership.
Trader tip
Before your first Master payout, trade every one of the 10 required days with your normal size; a day with a single micro contract is exactly what the flipping review looks for. Keep your best day well under 40% of the period's profit and submit by Friday night so the request lands in Wednesday's run.
Bulenox timeline
Sep 1, 2026 · controversy
BestForex.io questions the flipping clause
An article argues the Section 5.6 review lets Bulenox override its own published 40% consistency math. Source
Aug 17, 2026 · product
Fast Track and Momentum launch
New Qualifications become one-time 30-day purchases, Momentum and Fast Track launch with a 40% intro discount, and the $250K size is withdrawn. Source
Dec 2025 · controversy
ProjectX outage complaints
Traders blame a ProjectX platform outage for losses; ProjectX later wound down its third-party service, with support ending February 28, 2026. Source
Jun 2025 · controversy
Flipping-rule payout denials draw attention
Reddit threads and Trustpilot reviews describe payouts refused for 'flipping' under Section 5.6 of the Master Agreement; complaints continue into 2026. Source
Nov 2024 · rule change
Cross-firm copy trading ban surfaces
Traders report learning from the Master Agreement that copying trades from other firms' accounts is prohibited. Source
May 2021 · milestone
Trustpilot profile claimed
Bulenox claimed its Trustpilot profile; the site was live by June 2021 and its Terms of Use are dated July 2021. Source
Dec 2020 · milestone
bulenox.com registered
The domain was registered on December 31, 2020.
Restricted countries
97 countries and regions can't sign up
- Afghanistan
- Albania
- Angola
- Armenia
- Azerbaijan
- Bahamas
- Bahrain
- Bangladesh
- Barbados
- Belarus
- Benin
- Bermuda
- Bolivia
- Bosnia and Herzegovina
- Botswana
- Brunei
- Burkina Faso
- Burundi
- Myanmar
- Cameroon
- Central African Republic
- Chad
- China
- Congo (DRC)
- Côte d'Ivoire
- Croatia
- Cuba
- Curaçao
- Ethiopia
- Gabon
- Ghana
- Gibraltar
- Grenada
- Guinea
- Haiti
- Hong Kong
- Iran
- Iraq
- Jamaica
- Jersey
- Jordan
- Kazakhstan
- Kenya
- Kosovo
- Kuwait
- Kyrgyzstan
- Lebanon
- Lesotho
- Liberia
- Libya
- Macau
- North Macedonia
- Maldives
- Mali
- Mauritania
- Mauritius
- Mayotte
- Monaco
- Mongolia
- Montenegro
- Mozambique
- Namibia
- Nepal
- New Caledonia
- Nicaragua
- Niger
- Nigeria
- North Korea
- Palestine
- Oman
- Pakistan
- Papua New Guinea
- Republic of the Congo
- Russia
- Rwanda
- Saint Martin
- Senegal
- Serbia
- Somalia
- South Sudan
- Sri Lanka
- Sudan
- Syria
- Taiwan
- Tajikistan
- Tanzania
- Togo
- Trinidad and Tobago
- Uganda
- Uzbekistan
- Vanuatu
- Venezuela
- British Virgin Islands
- Western Sahara
- Yemen
- Zambia
- Zimbabwe
Bulenox FAQ
Questions traders ask
Is Bulenox legit?
Bulenox LLC is a Delaware-registered futures prop firm operating since 2021 with a 4.7 TrustScore from 1,805 reviews, and many traders report regular payouts. It does, however, refuse some payouts under an unpublished 'flipping' clause, does not disclose its owners, and is rated Not Recommended by PropFirmCircle.
Does Bulenox actually pay out?
Yes. About half of its recent 4-5 star Trustpilot reviews mention a payout received, usually the Wednesday after a Friday request. Roughly a quarter of negative reviews describe a refused payout, mostly for 'flipping'.
How long do Bulenox payouts take?
Master Account requests filed by Friday 11:59 PM CT are processed the following Wednesday. Fast Track and Momentum requests made on a weekday before 12:01 PM CT are processed the same day. Bank, intermediary or PayPal fees may apply.
What is the Bulenox pass rate?
Bulenox does not publish one. We estimate about 10% of Qualification and Momentum attempts reach a Master Account, based on a 6% target under a 3-6% trailing drawdown, similar in difficulty to challenges with disclosed pass rates near 10%.
What is the Bulenox flipping rule?
Section 5.6 of the Master Agreement bars placing token trades just to count a day toward the 10 trading days needed for a payout. Bulenox publishes no threshold, so trade your normal size on every counted day.
What are Bulenox's hidden rules?
The main ones are the flipping clause, a discretionary move to live accounts, a ban on copying trades from other firms, a weekly inactivity rule on Master Accounts and the Master activation fee. All but the flipping threshold are written somewhere, but not all on the pricing page.
What is the Bulenox consistency rule?
Master payouts need your best day to be at most 40% of the period's total profit, Momentum Masters 35%, and Fast Track 20% on the first payout rising to 30% from the third. Missing it delays the payout but does not breach the account.
Can you trade news with Bulenox?
Yes. CPI, FOMC, NFP and other releases are open on every program, with no blackout windows or forced closing. Only your drawdown and contract limit apply.
Are bots and trade copiers allowed at Bulenox?
Personal bots, algorithms and copiers are allowed, but commercial or shared tools are not, and connecting through a third-party API costs $100 a month. Copying trades from other prop firms' accounts is prohibited.
Does Bulenox accept US traders?
Yes. Bulenox is a US company and accepts US residents, who receive Form 1099-NEC for payouts. Residents of about 100 other listed countries, including China, Nigeria and Pakistan, cannot sign up.
Is there a Bulenox discount code?
Yes. Bulenox publishes the code BULENOX as an always-on coupon that applies its best current discount at checkout. The firm does not state the percentage, so check the price in the cart before paying.
Who owns Bulenox?
Bulenox LLC is registered at a Wilmington, Delaware business address, but the firm does not name its owners, founders or chief executive anywhere on its site or in its terms.
What happens if I breach a Bulenox account?
A Qualification is suspended and can be reset for $78 on the same account. A breached Master Account is closed; a reset is possible only by request at an individually set fee. Hitting the daily loss limit on Option 2 only pauses the day.
Bulenox Qualification vs Momentum vs Fast Track: which should I choose?
Qualification is cheapest upfront but adds a $143-$498 activation fee and 10-day weekly payouts. Momentum costs a bit more but includes a free Master with same-day payouts after 5 profitable days. Fast Track skips the evaluation for $338-$788 and has the strictest first-payout consistency at 20%.
Bulenox alternatives
Similar programs
Wyoming-registered futures prop firm (2025), sister brand of Top One Trader
United Arab EmiratesUAE prop firm for CFDs and futures, launched March 2022, with a 24-hour payout promise
Dubai-linked CFD, crypto and futures prop firm launched in 2025 with $9 one-step challenges
Sources
21 sources
- 1.Bulenox homepage
- 2.Bulenox Accounts & Pricing
- 3.Bulenox FAQ
- 4.Bulenox Help Center
- 5.Bulenox Help Center: Master Account
- 6.Bulenox Help Center: Funded Account
- 7.Bulenox Help Center: Fast Track
- 8.Bulenox Terms of Use (July 2021)
- 9.Bulenox commission rate sheet (Aug 11, 2026)
- 10.Trustpilot: Bulenox reviews
- 11.PropFirmMatch: Bulenox (unlisted)
- 12.Forex Peace Army: Bulenox
- 13.PropFirmCircle: Bulenox (Not Recommended)
- 14.BestForex.io: Bulenox consistency rule and Section 5.6 (Sep 2026)
- 15.TheGodFunded: Bulenox launches Fast Track and Momentum (Aug 2026)
- 16.QuantVPS: Bulenox payout and consistency rules
- 17.SpicyFutures: Bulenox review 2026
- 18.TraderFuel: Bulenox review 2026
- 19.Reddit r/PropFirmTester: payouts denied due to flipping rule
- 20.Reddit r/PropFirmDiscussion: Bulenox is no longer recommended
- 21.ProjectX third-party service wind-down notice