Full review · Rated 8.6 out of 10 · Qualification, Fast Track, Momentum
Bulenox review 2026.
3 paths, 2 risk models, 24 configurations.
Most Bulenox reviews flatten this firm into one generic rules summary. That is the wrong shape entirely. Bulenox sells 3 genuinely different routes to a payout crossed with 2 drawdown models across 4 account sizes, and the choice is locked for the life of the account. Everything below was read from Bulenox's own pages on 31 August 2026.
Official sources first
Prices, limits and fees read from bulenox.com itself. Knowledgebase detail is labelled separately where used.
Open questions stated
2 figures could not be confirmed on a Bulenox page today. Both are named rather than guessed.
Retired products flagged
ProjectX is discontinued. Search demand suggests many traders still do not know that.
The most configurable firm in futures prop.
News trading fully permitted, a 15:59 CT session close, no minimum trading days on any path, the first $10,000 in payouts kept in full, and a standing discount coupon. The cost of that range is a matrix most buyers will not read carefully enough.
Take 35% off any path.
Enter the code at checkout. All 3 paths at 4 sizes are priced in section 04 below.
What Bulenox is.
A futures prop firm operating as Bulenox LLC from 1201 N Orange St, Suite 7149, Wilmington, Delaware, offering simulated funded accounts across 41 futures contracts on all 4 CME Group exchanges.
The product structure is what makes Bulenox unusual. Three separate paths lead to the same funded outcome, each with its own price and its own entry mechanics. Crossed with 2 risk models and 4 account sizes on the public pricing page, that produces 24 buyable configurations. The firm states plainly that the risk model choice is locked for the life of the account, so this is not a setting you adjust later.
Markets cover equity indices, energies, metals, currencies, grains and livestock, plus micro Bitcoin and micro Ether. Every major product has a micro version at 10 micros per standard contract, and the two can be traded side by side. Infrastructure runs on Rithmic as data provider with NinjaTrader as named platform partner, and Bulenox advertises more than 20 Rithmic-compatible platforms including R|Trader Pro, Quantower, Sierra Chart, MultiCharts, ATAS, Bookmap, Tiger.Trade, Optimus Flow, MotiveWave and others.
What happened to ProjectX
ProjectX is no longer a Bulenox platform. A Bulenox helpdesk communication, circulated through a trader-run community account rather than the firm's own official handle, states that from 15 January 2026 customers could no longer create new ProjectX accounts and resets were no longer available, with remaining accounts transitioned by 28 February 2026. The wider context, reported independently, is that ProjectX was shared white-label technology used by several firms at once and that its licensing became exclusive to a single competitor in February 2026, forcing every other firm to migrate. Bulenox now runs exclusively on Rithmic. If you land on a stale ProjectX-branded Bulenox page, it describes a product that no longer accepts customers.
The 3 paths to a payout.
Same markets, same platforms, same profit targets. What changes is how many stages stand between your purchase and your first withdrawal, and what you pay to clear them.
Qualification
Cheapest entry, 3 stages
- Stages Qualification, Master, Funded
- Entry from $145
- Master activation Separate fee
- Min days before payout 10
- Payout cadence Wednesdays
Fast Track
Funded from day one
- Stages Funded immediately
- Entry from $338
- Activation fee None
- Min days before payout None
- Payout cadence Same day
Momentum
One payment, both stages
- Stages Momentum, then Master
- Entry from $94
- Master activation Free
- Min days before payout None
- Payout cadence Same day
Qualification is the classic route and the cheapest ticket in, at $145 for a $25,000 account. It is also the only path where the Master stage carries its own activation fee, which is the detail that changes the arithmetic. Fast Track removes the evaluation entirely and starts you in a simulated funded environment on day one, at roughly double the Qualification price, with no activation fee and no minimum trading days. Momentum is the one most buyers overlook: a single payment covers both the Momentum stage and its Master stage, which activates free of charge, and it opens at $94.
The cheapest ticket is not the cheapest path
Qualification looks the most affordable at $145 on a $25,000 account. But its Master Account carries a separate activation fee, documented in Bulenox's Knowledgebase at $98 on a $10,000 account, $143 on $50,000 and $248 on $100,000. Momentum bundles that stage into one payment and states its Master activates free. On a $50,000 account that is $175 plus $143 for Qualification against $143 all in for Momentum. Confirm both figures at checkout, because the activation fee is not shown on the main pricing cards.
Trailing or End-of-Day. Choose once.
Bulenox is explicit that this choice cannot be changed later. It also states that the price is identical either way. Only the drawdown behaviour, the daily loss limit and the contract count move.
The 2 risk models compared
Verified on bulenox.com| Behaviour | Option 1, Trailing | Option 2, End-of-Day |
|---|---|---|
| Threshold moves | Live during the session, on your highest point including open positions | Once a day at the close, on realised profit only |
| Unrealised profit counts | Yes | No |
| Daily loss limit | None on any path or size | Present, varies by path and size |
| Contract size | Full size from day one | Scales on Qualification, fixed on Fast Track and Momentum |
| Breaching the daily limit | Not applicable | Pauses trading for the day, does not close the account |
The trade-off is clean. Trailing gives you full contract size immediately and never imposes a daily loss limit, but a trade that runs deep in your favour and then gives it all back has permanently tightened your floor without paying you. End-of-Day freezes the threshold for the whole session so intraday swings are free, and its daily loss limit is a soft breach that pauses trading rather than ending the account. In exchange you accept a scaling ladder on one path and a lower contract count on the other two.
End-of-Day scaling does not work the same way on all 3 paths
Bulenox describes Option 2 on its pricing page as a scaling plan where contract size grows as cash on hand grows, and its Knowledgebase publishes per-size rules pages confirming that for the Qualification path. The Fast Track and Momentum End-of-Day cards, however, list Option 2, no scaling as a checkmarked feature. That is not a site error. Qualification starts you small and grows you into full size, while Fast Track and Momentum are sold as funded from day one and therefore have nothing to scale up from. What they do instead is start with fewer contracts: 2, 4, 8 and 12 by size against Qualification's 3, 7, 12 and 15.
What it costs.
Price depends only on path and size, never on risk model. The Trailing and End-of-Day versions of the same account cost exactly the same. That is easy to get backwards and several competing reviews do.
Take 35% off at checkout.
Enter the code before confirming, then compare the final total against the list prices below.
All 3 paths at 4 sizes, before the coupon
Verified on bulenox.com| Account size | Qualification | Fast Track | Momentum | Profit target | Contracts, Trailing | Contracts, EOD |
|---|---|---|---|---|---|---|
| $25,000 | $145 | $338 | $94 | $1,500 | 3 | 3 or 2 |
| $50,000 | $175 | $488 | $143 | $3,000 | 7 | 7 or 4 |
| $100,000 | $215 | $648 | $248 | $6,000 | 12 | 12 or 8 |
| $150,000 | $325 | $788 | $358 | $9,000 | 15 | 15 or 12 |
Drawdown and daily loss limit by path and risk model
Verified on the live pricing cards| Size | Qualification drawdown | Qualification DLL, EOD | Fast Track and Momentum drawdown | Fast Track DLL, EOD | Momentum DLL, EOD |
|---|---|---|---|---|---|
| $25,000 | $1,500 | $500 | $1,000 | None | $600 |
| $50,000 | $2,500 | $1,100 | $2,250 | $1,200 | $1,200 |
| $100,000 | $3,000 | $2,200 | $4,000 | $2,500 | $2,500 |
| $150,000 | $4,500 | $3,300 | $5,500 | $3,300 | $3,300 |
That second table repays a close reading. On the 2 smaller sizes Qualification gives you more drawdown room than Fast Track and Momentum. On the 2 larger sizes it gives you considerably less: $3,000 against $4,000 on a $100,000 account, and $4,500 against $5,500 on a $150,000. If you are buying at the top of the range, the cheaper path is also the tighter one.
One checkbox can cost $116 a month
When you sign the Rithmic data agreement you declare yourself professional or non-professional, and Bulenox states that this is locked for the life of the account across the Qualification, Master and Funded stages. Non-professional traders get exchange data included at no extra cost. Professional traders are billed $116 per month on top of the account for CME, CBOT, NYMEX and COMEX data. That is a recurring charge, not a one-off, and it is the single largest hidden cost on this platform.
Payout rules and the 90% split.
Bulenox's payout structure is genuinely favourable at the start and the FAQ states it without hedging: the first $10,000 in payouts is 100% yours, and after that the split is 90/10 in your favour.
Processing cadence is the second thing to get right, and it is a real product difference rather than a marketing line. You can request a payout on any day of the week. On Fast Track and Momentum accounts requests are processed the same day. On a regular Master Account, which is where the Qualification path lands you, they are processed every Wednesday. Both statements come from Bulenox's own FAQ.
Payout conditions by path
Verified| Path | Minimum trading days before first payout | Processing | Minimum withdrawal | Payout caps |
|---|---|---|---|---|
| Qualification | 10 on the Master Account | Every Wednesday | $1,000 | Capped for the first 3 payouts by size, uncapped after |
| Fast Track | None | Same day | Per Master terms | Per Master terms |
| Momentum | None | Same day | Per Master terms | Per Master terms |
Beyond the Master stage there is a real-capital Funded Account. Bulenox states that after 3 successful payouts on active Master Accounts, accounts may be considered for transition, that the transition happens at the firm's discretion and is not automatic, and that traders must accept a separate Funded Account Agreement. Declining closes the applicable Master Account with no further reward from it, and multiple active Master Accounts consolidate into a single Funded Account.
The Momentum Master consistency rule is not settled
A 40% consistency rule is well documented as applying to Master Accounts generally, and multiple independent trackers repeat that figure with worked examples. A Momentum-specific Bulenox marketing page captured during research states 35% per payout cycle instead. Both are first-party figures. The FAQ carries a question titled "What is the consistency rule?" but its answer sits behind a collapsed accordion that cannot be read without a browser session, so we could not resolve it today. If you are buying Momentum, ask support in writing which figure applies before your first payout cycle. We will update this section once confirmed.
News trading and the extended session.
These 2 rules are the reason a certain kind of trader should look at Bulenox before anywhere else, and they are unusually unqualified for this industry.
News trading is fully allowed. Bulenox states it can be traded straight through the economic calendar, naming CPI, FOMC and NFP specifically, with no blackout windows, no forced position closing and no penalties. Its own words are that the only limits are your drawdown and your position size. Compare that with firms where a high-impact release is a hard breach and the difference is not marginal.
The session runs to 15:59 CT, which the firm describes as later than most competitors. Combined with no minimum trading days on any path and no requirement to hold positions overnight, that gives an intraday trader a materially longer working window than the typical futures prop close.
Bots, algorithms and trade copiers are covered by their own FAQ entry, and the firm publishes a dedicated answer on what happens when a rule is broken. Read both against the path you are buying rather than assuming the general answer applies to every product.
How we checked this. Same 4 steps, every firm.
Sourced
The Accounts and Pricing page, the FAQ and the Help Center on bulenox.com, plus the live pricing cards for all 24 configurations.
Ranked
bulenox.com outranks the separate Knowledgebase domain wherever the two disagree. Knowledgebase-only facts are labelled as such.
Dated
Every table carries the date it was read. Bulenox changed platform provider this year, so undated figures age badly here.
Left open
2 figures could not be confirmed today. Both are named in the text rather than filled with a plausible guess.
The FAQ answers sit behind a collapsed accordion
Bulenox's FAQ page loads its 18 questions as headings, with each answer revealed only on click inside a live browser. We could read the question list and the answers that were already expanded, which is how the payout cadence and the tradeable instrument list are confirmed above. The consistency rule answer was not among them. Rather than infer it from third-party summaries, we have left it flagged. The same applies to the $10,000 and $250,000 account sizes, which appear in the Knowledgebase but not on the current Accounts and Pricing page, and which the homepage does not advertise since it caps its headline at $150,000.
The balance sheet.
Strengths
- The first $10,000 in payouts is kept in full, then up to 90% after
- News trading fully permitted with no blackout windows and no forced closing
- Session runs to 15:59 CT, later than most futures prop closes
- No minimum trading days to pass on any path
- Trailing carries no daily loss limit at any size, on any path
- The End-of-Day daily loss limit pauses the day rather than ending the account
- A standing discount coupon is advertised on evaluation pricing
- Momentum bundles Master activation into a single payment from $94
- More than 20 Rithmic-compatible platforms and 41 contracts across 4 CME exchanges
Frictions
- 24 buyable configurations with the risk model locked for the life of the account
- Declaring professional status costs $116 per month for as long as you hold the account
- Qualification's Master Account carries a separate activation fee not shown on the pricing cards
- Qualification needs 10 trading days before a first payout and pays only on Wednesdays
- Qualification drawdown is tighter than the other paths at $100,000 and $150,000
- The Momentum Master consistency rule is stated as both 40% and 35% across Bulenox sources
- FAQ answers are hidden behind an accordion that search engines and readers cannot skim
- Transition to a real Funded Account is discretionary and not automatic
- ProjectX pages may still be reachable and describe a discontinued product
Strong fit
- News traders, who face no blackout windows here at all
- Traders who hold into the late afternoon and want the 15:59 CT close
- Anyone who wants funded status on day one, which points to Fast Track
- Budget-conscious traders who read carefully, which points to Momentum
- Traders on Quantower, Sierra Chart, MultiCharts, ATAS or Bookmap
- Non-professional traders, who pay nothing extra for exchange data
Poor fit
- Traders who declare professional status and cannot absorb $116 a month
- Anyone who wants a single simple rulebook rather than a 24-cell matrix
- Traders needing a payout faster than Wednesday on the Qualification path
- Anyone expecting to switch risk model after buying, which is not possible
- Traders who want guaranteed progression to real capital
- Anyone still looking for ProjectX, which is discontinued
Frequently asked.
Is Bulenox a legitimate prop firm?
Rather than assert it, assess what is checkable. Bulenox operates as a registered entity, Bulenox LLC, at a listed Wilmington, Delaware address. It publishes its account rules, pricing, drawdown mechanics and data-fee structure openly on its own site, including the $116 per month professional data charge that many firms would bury. It names its infrastructure partners, Rithmic and NinjaTrader, rather than describing them vaguely. Its coupon policy leans on a standing discount rather than rotating urgency codes. Those are meaningful markers. What you should verify yourself is current payout activity and the specific rules for the exact path you intend to buy.
What is the difference between Qualification, Fast Track and Momentum?
Qualification is the classic 3-stage route and the cheapest entry at $145, but its Master Account carries a separate activation fee, needs 10 trading days before a first payout and pays on Wednesdays. Fast Track skips the evaluation entirely and starts you funded on day one from $338, with no activation fee, no minimum trading days and same-day payout processing. Momentum covers both its own stage and its Master stage in a single payment from $94, activates the Master free of charge, and also has no minimum trading days and same-day processing.
What is the Bulenox consistency rule?
A 40% consistency rule is well documented as applying to Master Accounts generally, meaning your largest winning day must not exceed 40% of profits in the payout cycle. A Momentum-specific Bulenox page states 35% instead. Both figures come from Bulenox itself, and we could not resolve which is current because the FAQ answer sits behind a collapsed accordion. If you are buying Momentum, get this confirmed in writing by support before your first payout cycle.
Does Bulenox still support ProjectX?
No. A Bulenox helpdesk communication, circulated via a trader community account rather than the firm's own handle, states that new ProjectX accounts and resets ended on 15 January 2026, with remaining accounts transitioned by 28 February 2026. The wider cause, reported independently, is that ProjectX licensing became exclusive to a single competitor, forcing every other firm using it to migrate. Bulenox now runs exclusively on Rithmic with NinjaTrader as platform partner. Some stale ProjectX-branded pages may still be reachable; they describe a product that no longer accepts customers.
Trailing or End-of-Day, which should I choose?
Trailing follows your highest point in real time including open positions, gives full contract size from day one and never imposes a daily loss limit. It punishes giving back unrealised profit. End-of-Day freezes the threshold for the whole session and only moves it at the close on realised profit, so intraday swings are free, and its daily loss limit pauses trading for the day rather than closing the account. The price is identical either way, and the choice is locked for the life of the account.
Does Bulenox allow news trading?
Yes, without qualification. Bulenox states you can trade straight through the economic calendar, naming CPI, FOMC and NFP, with no blackout windows, no forced position closing and no penalties. Its own framing is that the only limits are your drawdown and your position size. This is one of the clearest differentiators the firm has against competitors that treat high-impact releases as a breach.
How many Bulenox accounts can I run at once?
Up to 5 Master-level accounts at any one time, and that limit is shared jointly across Master, Fast Track and Momentum in any combination. Qualification Accounts themselves remain unlimited. That wording comes directly from the current Accounts and Pricing page.
Is there an active Bulenox discount code?
Yes. 35% off with code TradeReviews applies at checkout. Confirm it applies to your chosen path before paying, since coupon scopes on Bulenox have historically been stated per account type.
Start any path at 35% off.
Enter the code at checkout. It changes the price, not any rule, split or payout term described above.
Final verdict.
Bulenox has built the most permissive trading environment in futures prop and wrapped it in the least legible product page. Both of those statements are true at once, and which one matters more depends entirely on how carefully you read before buying.
The permissions are the real story. News trading with no blackout windows at all, in a category where a high-impact release routinely ends accounts. A session that runs to 15:59 CT. No minimum trading days on any path. A trailing model with no daily loss limit at any size, and an end-of-day model whose daily limit pauses the session rather than killing the account. The first $10,000 in payouts kept in full. A standing discount on entry. Individually these are nice. Together they describe a firm that has decided friction is not its business model.
What holds the score back is legibility and 2 open figures. 24 buyable configurations with a risk model locked for the life of the account is a lot to ask a buyer to parse from cards that do not show the Master activation fee. The $116 monthly professional data charge is disclosed honestly, to Bulenox's credit, but it is a large recurring cost attached to a checkbox. The Momentum Master consistency rule reads as 40% in one place and 35% in another. And putting the whole FAQ behind a collapsed accordion means the answers are effectively invisible to anyone skimming.
The practical recommendation. Take Momentum if you want the lowest total cost, since its Master stage activates free and it opens at $94. Take Fast Track if you want funded status immediately and same-day payouts, and accept roughly double the entry price. Take Qualification only if you are comfortable with 10 trading days, Wednesday-only processing and a separate activation fee. Choose End-of-Day unless you genuinely never give back unrealised profit. And if you are buying at $100,000 or above, note that Qualification is the tighter drawdown, not the looser one.
Rated 8.6 out of 10
Compare the 3 paths yourself.
Prices, drawdown figures and daily loss limits are read from the live cards and change. Confirm the Master activation fee and your chosen risk model at checkout, because the risk model cannot be changed afterwards.
Affiliate disclosure. Trader Payout may earn a commission if you open an account through links on this page. Commission arrangements do not influence the score, the figures published above, or the open questions we flag. Every specification in this review was read from Bulenox's own pages before any commercial relationship was considered.
Sources and verification.
- bulenox.com Accounts and Pricing: prices, contract counts, profit targets, drawdown, Master account limit, coupon terms, professional data feeVerified
- bulenox.com FAQ: tradeable instruments and exchanges, payout split, payout request and processing cadence, question indexVerified
- bulenox.com Help Center and homepage: entity details, path naming, news trading policy, session close, feature claimsVerified
- Live pricing cards: all 24 configurations across 3 paths, 2 risk models and 4 sizesCaptured
- Knowledgebase per-size rules pages: End-of-Day scaling on Qualification, Master activation feesSecondary domain
- ProjectX discontinuation notice, relayed through a trader community accountOne step removed
- Momentum Master consistency rule, 40% against 35%Unresolved
- $10,000 and $250,000 account sizes, present in the Knowledgebase but not on the pricing pageUnresolved
- Trustpilot rating and review volumeThird party
