UPROFIT and BULENOX are both proprietary trading firms that provide funded trading programs to traders. These firms have been empowering traders by granting them access to the necessary capital to participate in the financial markets.
When it comes to funded trading programs, traders seek dependable and reputable firms that offer substantial benefits with minimal drawbacks. UPROFIT and BULENOX stand as prime examples of such proprietary trading firms, and this article will explore their offerings. But first, let’s briefly touch upon the concept of funded trading programs.
Understanding funded trading programs
A funded trading program is a legally binding agreement between a proprietary trading firm and a trader. In this arrangement, the trading firm supplies the funds, while the trader receives and utilizes them for trading purposes.
Before gaining access to the funds, the trader must undergo an evaluation process, which typically includes a test or series of tests on a simulated trading account. These assessments are designed to gauge the trader’s skill and ability to consistently generate profits.
Upon successfully completing the evaluation, the trader is granted a live-funded trading account from the proprietary firm. Profits earned on this account are divided based on a pre-established ratio, commonly known as the profit split. However, violating rules or experiencing a series of losses may result in the termination of the account. If the trader wishes to regain access to a funded account, they must re-engage in the qualification process.
UPROFIT
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UPROFIT prop firm was founded in 2017, with its base of operations in Texas, the United States. UPROFIT provides traders with quality education to help them avoid financial pitfalls that tend to undermine their trading careers. In 2019, The company eventually transitioned into a prop firm and has been serving traders since then.
The funded trading program provided by Uprofit is mainly focused on the futures market, which is why the prop firm only accepts futures traders. This is undoubtedly a drawback for forex traders and traders of other financial markets. Futures traders can access up to $200,000 in trading capital depending on risk tolerance and the ability to generate consistent profits.
Despite its relatively short existence, UPROFIT has developed into one of the leading prop firms in the industry. This impeccable reputation was achieved through the firm making high levels of support and funding available to traders.
Like most prop firms, UPROFIT has an evaluation phase known as the UPROFIT challenge, which enables traders to become eligible for funding after passing the challenge. Passing the UPROFIT challenge is quite straightforward without any complications. Traders must only ensure they meet the designated targets and avoid violating rules.
BULENOX
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BULENOX prop trading firm provides trading capital via its funded trading program. BULENOX allows traders to access a funded account, Similar to the UPROFIT company discussed above. BULENOX is focused on the futures market just like UPROFIT, which is why it is also more suitable for futures traders.
BULENOX also has a team with several years of trading experience. The firm developed entirely new and secure access to trading the futures market with the help of its experienced people. BULENOX also offers one of the highest profit splits in the industry at 90:10, with traders taking the higher percentage.
Furthermore, BULENOX has the lowest costs of resets in the industry. Plus, it allows traders to operate multiple accounts simultaneously. This is undoubtedly a point of attraction to traders. With BULENOX prop firm, traders are also free to trade using their own trading strategies and without restrictions. BULENOX offers up to $250,000 in trading capital if traders can manage such a significant amount of money.
Comparing the Rules of the Qualification Phases between UPROFIT and BULENOX
Minimum Trading days
With UPROFIT firm: The minimum number of trading days is 10, and it is the least number of days required for a trader to trade and achieve specific objectives without violating any rule.
With BULENOX firm: the minimum number of trading days is 5. BULENOX firm states that holidays and weekends are not trading days.
Profit Target
With UPROFIT firm: they offer six different account sizes. Each account size has its specific profit target. To pass the challenge, the trader must achieve the profit target for a chosen account size.
With BULENOX firm: They also offer their clients six different account sizes, each with a designated profit target. This target must also be achieved to pass the BULENOX challenge.
Max Position size
With UPROFIT firm: This has to do with the maximum number of contracts that can be used for trading. The contracts can be spread on more than one instrument, but the larger the account size, the more contracts are available to trade multiple instruments.
With BULENOX firm: The maximum number of contracts is determined by the selected account size. The account sizes at BULENOX have two options; one has no scaling plan, while the other features at Bulenox have a scaling plan and EOD drawdown. Traders must be aware that the two options affect the max position size.
Allowed Trading time
With UPROFIT firm: Each trading day commences at 5:00 PM Central Time (CT). The trading day ends at 3:10 PM (CT) the following day, excluding holidays and weekends. However, all trading positions must be closed before 3:10 PM CT while positions can be opened after 5:00 PM CT.
With BULENOX firm: BULENOX trading day begins at 5:00 PM Central Time (CT) and ends at 4:00 PM (CT) the following day. However, all trading positions must be closed by 3:59 PM (CT) before reopening them again after 5:00 PM (CT). Traders are not allowed to trade outside the designated trading time.
Daily Loss limit
With UPROFIT firm: This refers to the maximum amount of loss that a trader is allowed to incur for each trading day. Each account size is allocated a daily loss limit, and traders must avoid hitting it. If this happens, any open positions will be closed along with a termination of the account. Traders can monitor the daily loss limit via the software Rithmic Trader, so that they can steer clear of hitting it.
With BULENOX firm: The daily loss limit at BULENOX is affected by the profit and loss made by the trader. Unrealized profits and commissions are considered for each trading day. Like UPROFIT, a daily loss limit is attached to each account size. Hitting the daily loss limit will terminate the account. Just like UPROFIT, Traders can use the software Rtrader to monitor the daily loss limit to avoid hitting the daily loss limit.
Allowed Instruments
With UPROFIT firm: UPROFIT focuses on the futures market, and as such, the allowed instruments are in this specific financial market. The classes of allowed instruments are: CME Equity Futures, CME FX Futures, CME Agricultural Futures, CME CBOT Agricultural Futures, CME CBOT Interest Rates, CME CBOT Equity Futures, CME COMEX Futures, CME NYMEX Futures.
With BULENOX firm: BULENOX also focuses on the futures market like UPROFIT. The classes of allowed instruments include: Equity futures, Currency futures, Interest rate futures, Micro futures, Agricultural futures, Energy futures, and Metal futures.
Trailing Drawdown
With UPROFIT firm: It is known in this firm as the Uprofit Pro drawdown, allowing UPROFIT to observe the maximum loss that a trader can bear. The Pro drawdown works less like an actual trailing drawdown and more like the End of Day (EOD) drawdown used by BULENOX. Hitting the Pro Drawdown will also lead to the termination of a trader’s account.
With BULENOX firm: This works in two ways because BULENOX offers two options for every account size. For the first option that does not feature a scaling plan, it functions as a trailing drawdown; it increases as the trader makes more profit. However, the second option features a scaling plan and functions as an EOD drawdown, which means it only considers the profits made at the end of a trading day. Hitting the trailing drawdown or EOD drawdown leads to account termination.
Comparison and Analysis of Uprofit and Bulenox Account Sizes
Table showing the different account sizes available in the Uprofit funded trading program.
| Account Size | Max Number of Contracts | Profit target | Daily Loss limit | Drawdown | Price of Challenge |
|---|---|---|---|---|---|
| $9K | 5 Micro contracts | $900 | $350 | $800 | $89 |
| $25K | 3 contracts | $1,500 | $500 | $1,250 | $145 |
| $50K | 6 contracts | $2,500 | $1,100 | $2,000 | $160 |
| $75K | 8 contracts | $4,250 | $1,600 | $2,500 | $245 |
| $100K | 12 contracts | $6,000 | $2,200 | $3,000 | $315 |
| $200K | 20 contracts | $10,000 | $4,000 | $5,000 | $580 |
Table showing the different account sizes available in the Bulenox funded trading program.
| Account Size | Max number of Contracts | Profit Target | Drawdown | Daily Loss limit | Price of Challenge |
|---|---|---|---|---|---|
| $10K | 5 Micro contracts | $1,000 | $1,000 | $400 | $115 |
| $25K | 3 Contracts | $1,500 | $1,500 | $500 | $145 |
| $50K | 7 Contracts | $3,000 | $2,500 | $1,100 | $125* |
| $100K | 12 Contracts | $6,000 | $3,000 | $2,200 | $155** |
| $150K | 15 Contracts | $9,000 | $4,500 | $3,300 | $325 |
| $250K | 25 Contracts | $15,000 | $5,500 | $4,500 | $535 |
Uprofit and Bulenox are similar in account sizes and respective features from the above tables. They both offer six account sizes, and each firm has an account featuring micro contracts. The prices of the challenge for the different accounts are relatively cheap, but Bulenox has the edge here with slightly lower prices compared to Uprofit.
Also, Bulenox has a higher maximum account size at $250K than Uprofit at $200K. In terms of profit target, drawdown, and daily loss limit, there is not too much separation between them. The contract sizes are virtually the same for both firms, with larger contract sizes only coming in for account sizes of Bulenox that are larger than that of Uprofit. Overall, the account sizes offered by both Uprofit and Bulenox are closer in similarities than probably any other two prop firms in the funding industry.
Comparing some Additional Features of Uprofit and Bulenox
Consistency rule
Both Uprofit and Bulenox do not have consistency rules as they want their clients to trade freely without any restrictions. They provide sufficient flexibility and excellent trading conditions so traders can grow and build a successful trading career.
Reset
The option of resetting is available at both Uprofit and Bulenox. The reset gives traders another chance to win a funded account whenever they violate any rules leading to their qualification accounts’ closure.
The reset comes with a fee of $99 at Uprofit and $78 at Bulenox. So, the reset is cheaper at Bulenox than at Uprofit.
Comparing the Pros and Cons of Uprofit and Bulenox
| Uprofit | Bulenox | |
|---|---|---|
| Pros | The first $8,000 in profit belongs totally to the trader | The first $10,000 in profit belongs totally to the trader |
| There are several means of withdrawing profits from Uprofit | There are multiple methods to withdraw profits from Bulenox | |
| The profit split is 80:20 | The profit split 90:10 | |
| The qualification phase involves a single step | The qualification phase involves a single step as well | |
| It is easy to calculate the pro drawdown and monitor it | The reset fee is the lowest in the industry | |
| Cons | ||
| Traders are limited to operating just two funded accounts simultaneously | It involves a CME clearing process that can be complicated for some traders | |
| Responses from customer support may sometimes be ambiguous | Responses from customer support are not always prompt |
So, if you are a trader looking for a proprietary trading firm that is genuinely committed to its traders, you cannot go wrong with either Uprofit or Bulenox as both are excellent prop firms. While they are both relatively new, they are still worth checking out.