Is Blu FX scam?

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#1

Hello

I am profitable trader , previous week I joined BluFX prop firm

And somehow I am not profitable anymore
I went to review my losses and found out the SL that got hit only got hit in BluFX MT4 chart, the sudden moves that happened which triggered my SL didn’t happen with my personal trading account

I decided I will put them to the test
now I am in 1.5% loss on account due to stuff that did not happen, I am currently also writing that to them
But at the same time I will put them to the test, I will create separate demo account with my personal broker and compare the outcome

Since you can join them without CV, and trading history I guess most of people lose their money so they run you on Demo or the hedge you, and earn from subcrition

We will se will post the outcome in 2 weeks

I

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Is blufx Nigeria a scam?
#2

you can check in FPA review about this brokerage

#3

If you’re a profitable trader why did you join a prop fund. Just trade your own money, borrow money from family or friends. Put your money on the line man. Or show a verified account record and investors would give you money to trade. It has such tight rules to trade. Low leverage, not regulated, monthly cost. That company just earns from your subscriptions.

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#4

trading with own , its a right one but borrowing money from family and others , its completely a wrong decision, its a mental pain and traders cant focus when trading in practically.

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#5

Their occupation are not bad

If you have money you don’t need big lavrege
If you don’t have money you can’t afford lavrege

My question was regarding trading experience, some stuff was happening on charts that did not with my personal account, and with my demo which I run for forward testing new sruff

Borrow money for trading? I don’t recommend, try to trade yourself for bills rent and food with 5000 eur account in a month and you will se how many mistakes you will do due to pressure, now imagine the pressure if you would borrow money, because loan do not go away next month specially not 20000 or 40000, trading returns are from 10 - 30 depanding on month and there are also negative ones some times

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#6

Few aoutcorect crazies in the text, I wanted to write their conditions are not that bad

Hi everyone, Am new here.... Hope am welcomed
#7

I did read it, even if their plan is around 90% lossing, and that brings more returns than few people winning I really don’t care as long as long as they do their job, what I am afraid is that they manipulate the charts in your disadvantage and they shrink the winning side even more, I have been with few different brokers in the past I never experienced hunting stop Los and such, usually brokers hunt your stop loss until you learn to trade, what am I trying to say is usually you entered premature rather broker was stalking you. But here happened a gap and thrust up fee Atrs, in the time of no particular action or news, the candle after the gap was much bigger then others, I know that happens, but than I would also see that on my real account with my broker, on my demo account and on trading view, but there was nothing, it freaking gaped over my SL, similar happened to me before, but before there was weekend gap and I understood it, and it was also on other brokers chart

#8

We understood what you meant in the first post. Like i said, they make their money from other methods subscriptions, setting their own spread and maybe manipulating the charts. Not from your profits. Leave them and trade your own money.

#9

I would but don’t have the capital to sustain living, with time I will get there,

So far this was only excident that happened with Blufx I will see what will the future bring, funny thing is their spread is very tight and consistent, aldo I don’t care much about the spread I rearly go under 4 H

#10

Hi, I would like to know more about your experience with Blu Fx. I have the skills but lack the money…they are regulated with FCA…Thanks for your help

#11

I am not sure on Blufx but heard FTMO is a better, easier alternative to get funded. do your research if you decide to sign up.

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#12

How do you know it’s easier and better alternative to get funded? Are you funded with them, have you done the verification? Who did you hear from?

#13

FTMO has an in-house performance psychologist available for their traders which is pretty cool.

#14

Personally I think this psychology stuff is all BS. So having a psychologist is just a gimmick.

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#15

Based on this comment I think I can estimate the state of your account.

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#16

Actually I think when I changed the way I thought that’s when I became profitable.

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#17

Thats exactly what psychology is. Not some motivational BS speaches.

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#18

I meant when I stopped caring about the term ‘trading psychology’ and not putting importance to it I started to become profitable. I feel it traps you into a cycle where you can blame something. It’s just another massive business to sell to people. I go by the motto: ‘Its not me, it’s my strategy’.

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#19

Hi liban. Did you get to sign up?
Well I did and ive been with them for months. I made my first withdrawal last month. It took a lot of courage from some reviews I had read and of course I had to go through my learning curve when I started. But I’m glad I did

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#20

So… that’s what trading psychology is. Getting off the emotional track and learning to become very logical & analytical about trading. It may not be your default, but a lot of people tend to start chasing losses or betting heavy on bad moves, or trade based on “feel” an ignore the obvious. “It’s down 22%, I feel like it’ll reverse right now and not go through a consolidation phase… nah, it’ll go down. I’ll cost average the position… I can’t get out now, I’ll lose 30% of my account. OMG I can’t do this -50%, I’m OUT! [trend reverses]”

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