One of the best ways to make money on the internet is by trading the financial markets online. There are always new innovations coming up to make it simpler and easier to trade in.
You need a broker to trade. The brokerage space is one area in which innovation has continuously occurred. There is a brokerage innovation.
When you open an account with a broker, you fund it in compliance with the broker’s minimum deposit amount, which is usually the case. You start to make money. There were innovations here. We now have broker-funded accounts where you register with the broker, but you have your account already funded by them. This type of service is offered by one broker.
The award-winning trading platform instant funding prop firm is based in the United Kingdom. It allows traders to live-trade the financial markets without putting their capital on the line, while also making money from the profits they bag from the markets You don’t have to worry about any liability for trading with the broker. You have to pay a small monthly fee to have access to a trading account.
The features of a traditional broker account and a proprietary trading firm are combined in the form of a new broker account. It is an exclusive trading organization because it runs its own money. The broker is meant for traders who are risk-minded and are more prone to risk management, gradually growing accounts, and protecting against the downside, as against traders who are willing to put their capital at risk.
Depending on the amount you pay for a monthly subscription, there are two membership arrangements on the site.
The LITE account requires a monthly subscription to be able to use it. You have a total buying power of $75,000 due to the leverage of 1:3. The trading platform has a name. You don’t have to worry about liability for losses incurred, as profits are shared on a 50% basis, with 50% going to yourself and the other 50% going to the broker.
If you want to have access to a $50,000 account, you have to pay $249 a month. You have the ability to hold trades overnight because of the 1:3 leverage. The hours are from 6 am to 9 pm.
BluFX South Africa
It can be assumed that it is very much available to South African traders because there are no restrictions on the platform. There is an office for West Africa located in Lagos, Nigeria, as well as a third-party office for Francophone Africa in Yaounde.
South African traders can apply for memberships. You can join the community of traders who are also on the platform and learn from them. You have access to trading support at work. You can also use the MT4 platform to trade and tap into an array of trading programs. You can cancel at any time.
There are general instructions and points to note.
There are some important instructions you have to follow.
You can only trade between the hours of 6 am and 9 pm UK time. You cannot hold your trades overnight if you are signed up for the LITE account.
Your account must not experience a lower than 10% draw down. You cannot afford to lose anything over $5,000 for the LITE account and the PRO account. You are at risk of being disabled if you go below these thresholds.
You are prevented from engaging in unauthorized trading activity. We can’t really place what they mean by “unauthorised”
You only have access to a maximum of 28 currency pairs if you are a broker. You can’t speculate on the markets that are more liquid.
The platform has a limit of 1:3. You have a large trading capital. It might help to know that the preferred trading style of the company is conservative and risk-averse.
You run the risk of being disabled from the platform or that fines may be deducted from your account when it is time for aPayout if you violate any of these instructions.
You can make profits with the capital provided to you. There are some important points you have to remember before you can withdraw funds.
You can only withdraw the profits you made with the capital, so you can’t have access to it. If you make a balance of $60,000 and have access to $50,000 in your account, the maximum amount you can withdraw is your rightful percentage of $10,000. You can’t touch the $50,000 because it’s in the hands of the company.
If you make a profit out of trading from the capital assigned to you, it’s not yours to keep, but you share it with the other person. If you withdraw, you have a maximum of $5,000 coming to you, while the rest goes to the other side. You will agree that this is a fair deal when you consider the fact that you are not responsible for the losses you make.
Making profits doesn’t grant you access to withdraw from your account To withdraw from your account, you need to make at least 10% of your trading capital. You must make at least $2,500 to be able to withdraw from a membership with a minimum balance of $27,500.
If you want to withdraw a maximum of 5% of your profits, you have to do it at a specific time. If you make a profit of $2,500, you can only withdraw $125 at any one time. That doesn’t mean you can’t withdraw all your profits at the same time.
How to Withdraw money from BluFX
To deposit your monthly subscription fee, you need to use credit or debit cards. You can use a variety of methods to make withdrawals, from bank wire transfers to online payment services.
Is BluFX Legit
With the number of reviews and recommendations we’ve come across, it’s reasonable to say that it’s legit. This seems to be a different kind of broker scam. Is it possible that you should jump on it? Not at all. There are a number of important factors to consider when trading with a foreign exchange company.
Cons of Trading with BluFX
There are red flags that you should look out for when trading with the currency exchange.
One requirement of a credible broker is that it must be registered under and subject to at least one regulatory institution. It appears that BluFX is not regulated by any organization. The website should have its regulatory certifications on it. It is located in the UK and should be registered by the UK Financial Conduct Authority. Customer trust is at stake and regulation is needed to prevent it.
A platform that he has little control over may be the reason for the too many restrictions. The trading hours of 6 am to 9 pm make a mockery of the idea that the market is open all day. Due to this, you have to limit your trading style and strategies. You miss out on a lot of profitable opportunities in other markets because you are limited to only 28 currency pairs. Risk management is one of the important trading parameters that have been pre-set for you.
You don’t have access to some important details because of the lack of important information. Every professional trader knows what a difference spreads can make.
It is possible to cancel your subscription and get your money back, but that is subject to some conditions. Fines are deducted when you violate any of the rules. You will get the remaining amount. Losses may be cut as well. By the time you are paid, most of the stuff is gone.
The model of the broker is admirable. It is not meant for all types of traders. If it can work for you, you should take the above into account.
It is our mission to not recommend anything but the best, according to industry experts.
Your capital is at risk