The process of withdrawals and payouts at Bulenox is quite straightforward to understand. This article will shed light on how the process works, including the minimum and maximum withdrawal amount, the month’s time, and how to receive your withdrawals.
Generally, traders can withdraw profits after the first few weeks of trading a funded account at Bulenox, but the amount is usually limited. However, after the fourth month, the limit is removed, and you can withdraw as much as possible once you have the funds in your account.
Is there Anyone Withdrawing Money from Bulenox?
Yes, people are withdrawing money from Bulenox, with Trustpilot and Facebook reviews showing evidence of this. The reviews are proof of the firm’s commitment to ensuring that traders have timely access to their profits.
Some of the reviews talk about how fast the process works at Bulenox. As long as you have the proper amount of funds in your account and your withdrawal request is not over the limit, nothing will stop your withdrawal request.
What is the Profit Split at Bulenox?
Regarding the profit split at Bulenox, the first $10,000 earned in profits belongs fully to the trader. As a result, the firm does not charge any commission when the withdrawal is made to the trader’s bank account.
The next $40,000 in profits comes with a commission. 10% of the profits belong to the firm, while the remaining 90% belongs to the trader. By now, you will have withdrawn $50,000 in profits.
So, The profit split goes from 100% to 90:20. The firm always takes the lesser percentage of the profits the trader earns. The commission is deducted while the funds are transferred to a personal bank account.
When can I Withdraw Profits from Bulenox?
At Bulenox, you can request to withdraw your profits at any time during the calendar month. Withdrawals are processed weekly, specifically on Wednesdays. However, before requesting a payout, you must have completed a minimum of ten individual trading days. This ensures that traders have demonstrated a consistent trading performance before withdrawing their earnings
The withdrawal safety threshold reserve limits explained
The withdrawal safety threshold reserve refers to the minimum amount that must be maintained in the trader’s account before he/she is allowed to make a withdrawal. Below is the list of the corresponding value of the withdrawal safety threshold reserve limit for each account size offered by Bulenox:
$10K Account – $1,100
$25K Account – $1,600
$50K Account – $2,600
$100K Account – $3,100
$150K Account – $4,600
$250K Account – $5,600
Subject to the provisions of the Master Agreement, traders have the right to withdraw the safety threshold reserve once the Master Agreement has been terminated.
Is there a Minimum & Maximum Withdrawal of My Profits?
There is a minimum and maximum withdrawal amount for the profits earned by a trader. For the first three payments, the minimum withdrawal is $1,000 for all accounts and $500 for the $10k account, while the maximum withdrawal amount is determined by the account size selected by the trader. Below is a list showing the minimum and maximum withdrawal amount for each account size:
|Account Size||Min Withdrawal||Max Withdrawal|
Where can I receive withdrawals?
Withdrawals can be requested at Bulenox through any of the following methods: ACH/Wire Transfer, Payoneer, Zelle, and PayPal.
Bulenox and Income Taxes
When a trader requests a withdrawal, a tax form is simultaneously sent to pay taxes to an address made available on the personal file. Traders trading and receiving payment on the Master Account are categorized as independent contractors. So, if they are citizens of the United States of America, they will be mailed a form known as 1099-Misc Non-Employee Compensation. But if they are foreign citizens, they will be getting a W-8BEN form.
Bulenox Advanced Trading and Custom Trading Accounts
The Master Account is meant for advanced training and payment based on performance. Traders that show consistent results that tend to a long-term relationship are likely to receive a unique offer from the capital partners of Bulenox. However, this offer is on an individual basis which is why the terms and conditions are discussed with each trader individually. The trader can decide to continue trading on the Master Account or get transferred to an account with the partners of Bulenox.
Bulenox runs an efficient withdrawal process and a generous profit split that is one of the best in the industry. Bulenox focuses on building long-term relationships with futures traders, which is why the firm sets up a structure that boosts a trader’s chances of success.
So, if you are a futures trader and are looking for a prop firm where you can win a funded account, Bulenox might be worth checking out. The rules are not complicated, and once you start trading in the funded account, you can be sure of withdrawing your profits. Ensure you know the rules and do not ignore income taxes once you start withdrawing profits. I wish you success in becoming a funded trader at a solid and reputable prop firm like Bulenox.