Bulenox Review 2026: Rithmic Futures Prop Firm + 100% First $10K Profit
Reviewed by Jonathan Jean-Philippe • 15+ Years Futures Trading Experience • Last updated: September 2026
Bulenox is a US-based futures prop firm offering funded accounts from $25K to $150K on the Rithmic platform, with a unique 100% profit split on your first $10,000 earned, then 90% after. Evaluations start at $94/month for a $25K Momentum account, a price verified on 13 September 2026 — billed as a recurring monthly subscription, not a one-off fee. Founded in 2022, Bulenox processes payouts weekly, every Wednesday. DealPropFirm rates it 4.8/5 on our MLS Score™.
⚠️ Risk Warning: Futures trading involves substantial risk of loss. Most traders do not pass prop firm evaluations. Past performance does not guarantee future results. This is not financial advice—trade only with money you can afford to lose.
Quick Verdict: Bulenox's 100% profit split on your first $10K is a standout feature no other major firm matches. The Rithmic platform is industry-standard for execution speed. However, the trailing drawdown is strict, the activation fee after qualification adds cost, and the firm is newer than veterans like Apex or Topstep.
Let's break down whether Bulenox is the right futures prop firm for YOUR trading...
Expert Verdict
15+ Years ExperienceBy Jonathan Jean-Philippe • Professional Trader & Prop Firm Analyst
Bulenox delivers real value for futures traders: keeping 100% of your first $10K in profit is unmatched, and the Rithmic platform is the industry standard for execution. Note the evaluation is a recurring monthly subscription, so factor in the renewal if you take longer than a month to pass.
💡 My Recommendation:
Start with the $25K Momentum account ($94/mo). It gives you 3 contracts—enough to trade ES or NQ comfortably without over-leveraging. Decide between trailing and end-of-day drawdown carefully: the choice is locked for the life of the account.
⚠️ Watch Out:
The activation fee ($143-$498) after qualification adds real cost. Factor this into your total investment. The trailing drawdown is unforgiving—one bad trade and you're done.
Note: This review is independent, but I may receive a commission if you use my links, which helps fund my €200K+ testing lab.
Ready to Start?
No code needed — the Bulenox discount applies through our link.
Bulenox Pricing Breakdown
Bulenox offers 4 account sizes across three programs. Qualification and Momentum are recurring monthly subscriptions; Fast-Track is a single payment. After passing, there's a one-time Master Account activation fee.
Prices shown are Bulenox list prices
Qualification and Momentum are billed as a recurring monthly subscription, not a one-time fee — the checkout bills "for one month" and renews. Fast-Track is a single payment.
| Account | Contracts | Qualification | Momentum | Fast-Track | Profit Target | Trailing DD |
|---|---|---|---|---|---|---|
| $25,000 | 3 | $145/mo | $94/mo | $338 | $1,500 | $1,500 |
| $50,000 | 7 | $175/mo | $143/mo | $488 | $3,000 | $2,500 |
| $100,000 | 12 | $215/mo | $248/mo | $648 | $6,000 | $3,000 |
| $150,000 | 15 | $325/mo | $358/mo | $788 | $9,000 | $4,500 |
Before you sign up
- • You pick Trailing drawdown or End-of-Day drawdown at purchase, and the choice is locked for the life of the account.
- • Profit split is 100% on your first $10,000, then 90/10.
- • No minimum trading days.
- • On the Rithmic data agreement, declaring yourself a professional costs $116/month in exchange data fees — and that status is locked permanently. Bulenox warns about this explicitly.
We don't currently have a verified discount code for Bulenox. Rather than publish one that fails at checkout, we link straight to their site.
Visit Bulenox →Important Cost Notes:
- Monthly subscription — recurring until you pass or cancel
- Activation fee after qualification: $143 (25K) to $498 (150K) — one-time, includes data feed
- Free reset included with each subscription renewal. Additional resets: $78
- 100% of first $10K profit is yours, then 90/10 split after
- Weekly payouts every Wednesday
Affiliate disclosure: DealPropFirm earns a commission if you sign up through our link, at no extra cost to you. We do not currently have a verified discount code for Bulenox.
What is Bulenox? Complete Overview
Bulenox is a US-based futures proprietary trading firm founded in 2022. Unlike forex-focused firms like FTMO or FundedNext, Bulenox specializes exclusively in futures markets—ES (S&P 500), NQ (Nasdaq), CL (Crude Oil), GC (Gold), and other CME-listed contracts. The firm uses the Rithmic execution platform, the same infrastructure used by institutional traders for its ultra-low latency.
What sets Bulenox apart from competitors like Apex Trader Funding and Topstep is the 100% profit retention on your first $10,000 earned. After that threshold, the split becomes 90/10 in your favor. Combined with the choice between trailing and end-of-day drawdown, that rule is what makes Bulenox worth considering — though the monthly subscription means it is no longer among the cheapest ways in.
Bulenox at a Glance
🏢 Company Details
- • Headquarters: United States
- • Founded: 2022
- • Market Focus: Futures only (CME, CBOT, NYMEX, COMEX)
- • Platform: Rithmic (via NinjaTrader, Sierra Chart, etc.)
⚙️ Core Features
- • 100% profit on first $10K earned
- • 90% split after $10K threshold
- • 4 account sizes ($25K–$150K)
- • 2 drawdown options (trailing vs EOD)
- • Weekly payouts (Wednesdays)
The 3-Stage Funding Path
Qualification Account
Monthly subscription. Hit profit target while respecting drawdown rules. No time limit.
Master Account
One-time activation fee. Trade with same rules. Prove consistency before full funding.
Funded Account
100% of first $10K profit yours. Then 90/10 split. Weekly payouts every Wednesday.
Key Advantages: Why Bulenox Stands Out
#1: 100% Profit on First $10,000
This is Bulenox's killer feature. While Apex starts at 100% on the first $25K of PA profits and Topstep offers 90% from day one, Bulenox lets you keep every single dollar of your first $10,000 in funded profits. After that, it's 90/10—still excellent.
The Math:
#2: Two Drawdown Models, Chosen at Purchase
A $25K Momentum evaluation costs $94/month, or $145/month on Qualification. Compare that to Topstep at $49/mo or Earn2Trade at $150+. On raw entry cost Apex now undercuts Bulenox outright, with one-time evaluation fees instead of a monthly subscription.
This means you can afford to fail and retry without going broke on evaluation fees.
#3: Rithmic Platform (Institutional-Grade Execution)
Bulenox runs on Rithmic—the same execution engine used by institutional futures desks. This means sub-millisecond order routing, accurate tick data, and no requotes. You can connect via NinjaTrader, Sierra Chart, Quantower, or any Rithmic-compatible frontend. For scalpers trading ES or NQ, this execution quality is non-negotiable.
#4: Two Drawdown Options (Trailing vs EOD)
Bulenox gives you a choice: Option 1 (trailing drawdown—follows your peak intraday) or Option 2 (EOD drawdown—only adjusts at market close). Option 2 is more forgiving for intraday traders who have volatile P&L swings but close flat. Most competitors force you into one drawdown model.
Option 1 — Trailing
Drawdown follows your peak balance in real-time. Tighter but lower activation fee.
Option 2 — EOD
Drawdown adjusts at end of day only. More breathing room intraday. Higher activation fee.
#5: Weekly Payouts Every Wednesday
Bulenox pays funded traders every Wednesday. No waiting 14 days or monthly cycles. Combined with the 100% first $10K rule, you could theoretically withdraw your first $10K in full within weeks of getting funded. Payments process via bank transfer or crypto.
Key Disadvantages: Where Bulenox Falls Short
#1: Activation Fee After Qualification
After passing your qualification account, Bulenox charges a one-time Master Account activation fee ranging from $143 ($25K) to $498 ($150K). This is on top of the monthly subscription you already paid. While it includes data feed costs, it raises the true total cost significantly. Apex charges $75-$135 for PA activation—considerably less.
#2: Strict Trailing Drawdown (Option 1)
Option 1's trailing drawdown follows your peak balance in real-time. On a $25K account, if you hit $26,500 intraday then drop to $25,000, you've consumed $1,500 of your $1,500 trailing drawdown—evaluation over. This is the #1 reason traders fail at Bulenox. Option 2 (EOD) is more forgiving but costs more to activate.
#3: Futures Only (No Forex, Crypto, Stocks)
Bulenox is exclusively futures. No forex pairs, no crypto, no stocks. If you trade multiple asset classes, you'll need Bulenox for futures AND another firm like FTMO or SabioTrade for forex. However, if you only trade ES, NQ, or CL, this isn't a limitation.
#4: 3-Stage Funding Path (Longer Than Competitors)
Bulenox has 3 stages: Qualification → Master → Funded. Apex only has 2 (Evaluation → PA). This means an extra step (and extra fee) before you start earning. For impatient traders, this added layer can feel frustrating.
Bulenox Trading Rules Explained
Bulenox's rules are straightforward but strictly enforced. Understanding the drawdown mechanics is critical—most failures happen here.
🎯 Profit Target
Varies by account size (see pricing table). Generally 6-10% of account balance.
- No time limit — trade as long as you need
- No minimum trading days — pass in 1 day if you can
📉 Daily Loss Limit
- Varies by account — $1,000 (25K) to $3,300 (150K) on EOD
- Resets daily at 5 PM ET
💥 Trailing Drawdown (Option 1) vs EOD (Option 2)
- Option 1: Trailing — follows your intraday peak in real-time. Tightest rule.
- Option 2: EOD — only adjusts at end of day. More room for intraday swings.
- ⚠️Trailing drawdown is the #1 account killer. One spike in unrealized P&L can permanently raise your floor.
🚫 Restrictions
- No holding overnight in qualification (positions must be flat by 4:59 PM CT)
- No trading during halt — if a market is halted, close positions
- News trading is allowed — unlike many forex firms
- Scalping is allowed — no minimum hold time
Common Mistakes That Cause Bulenox Failures
❌ Mistake #1: Ignoring the Trailing Drawdown Mechanics
You're up $800 on 2 ES contracts. You don't take profit. The market reverses. Now you're down $200. Your trailing drawdown has permanently moved up by $800, but your P&L is -$200. Net effect: you've consumed $1,000 of drawdown for a $200 loss.
❌ Mistake #2: Over-Leveraging on Small Accounts
The $25K account gives you 3 contracts. Two ES contracts = $100/point exposure. A 6-point adverse move ($600 loss) wipes most of your drawdown. On the $25K account with 3 contracts, it's slightly better but still tight.
❌ Mistake #3: Forgetting to Close Before 4:59 PM CT
In the qualification phase, all positions must be closed by 4:59 PM CT. Forget this once and you'll get flagged. Some traders lose track of time during an active trade.
❌ Mistake #4: Not Budgeting for the Activation Fee
You pass qualification paying $94/mo on Momentum. Then Bulenox asks for $143 to activate your Master Account, on top of the subscription you have already paid. If you didn't budget for this, you might not be able to proceed—wasting months of evaluation.
Strategies for Passing Bulenox Evaluations
✓ Strategy #1: Choose Option 2 (EOD) If You're a Scalper
The EOD drawdown doesn't track your intraday peaks. This means you can have a $500 unrealized gain, let it reverse to -$200, and your trailing drawdown only moves based on your end-of-day balance. For scalpers with volatile intraday P&L, this is far more forgiving. The higher activation fee is worth the peace of mind.
✓ Strategy #2: Trade 1 Contract Only on $10K–$50K Accounts
Just because you can trade 7 contracts on a $50K account doesn't mean you should. Trade 1 contract consistently. On ES, 1 contract = $50/point. A 10-point winner = $500. Do that 6 times with a 60% win rate and you've hit your $3,000 target on the $50K account with minimal drawdown risk.
✓ Strategy #3: Lock In Profits With Partial Exits
If you're trading 2+ contracts, scale out at pre-defined targets. Exit half at +$300, trail the rest. This locks in realized profit (which doesn't move your trailing drawdown back down but protects against full reversals). The trailing drawdown only goes UP—never let a winner become a loser.
✓ Strategy #4: Trade the Open (9:30–10:30 AM ET Only)
The first hour of the cash session has the most volume, volatility, and setups. Many successful Bulenox traders trade exclusively 9:30–10:30 AM ET then close everything. This limits exposure time, reduces emotional fatigue, and concentrates your edge into the highest-probability window.
✓ Strategy #5: Use the Free Reset Strategically
Bulenox gives 1 free reset per subscription renewal. If you blow your account early in the month, wait until your renewal date to get the free reset instead of paying $78. Time your aggressive trades accordingly.
DealPropFirm's Final Verdict
Expert Verdict
15+ Years ExperienceBy Jonathan Jean-Philippe • Professional Trader & Prop Firm Analyst
The 100% profit on your first $10K is a genuine differentiator and the Rithmic platform is institutional-grade. But at $94/month recurring, Bulenox is no longer the cheap entry point it once was — price it against the one-off fees charged elsewhere before committing.
💡 My Recommendation:
Start with the $25K Momentum account (Option 2 EOD) at $94/mo. Trade 1 contract on ES or NQ. Budget for the activation fee on top, and remember the subscription renews monthly until you pass or cancel.
⚠️ Watch Out:
The trailing drawdown is the #1 killer. The 3-stage path is longer than Apex. The activation fee adds hidden cost. This firm rewards disciplined, patient traders.
Note: This review is independent, but I may receive a commission if you use my links, which helps fund my €200K+ testing lab.
🏆 MLS Score™: 4.8/5
Strengths: 100% first $10K profit, Rithmic platform, two drawdown models to choose from, no minimum trading days, weekly payouts.
Weaknesses: Activation fee adds cost, trailing drawdown is strict, futures only, 3-stage path, newer firm.
Bottom line: Bulenox remains a solid futures option, but price it honestly: $94/month recurring on Momentum, plus an activation fee once you pass. The 100% first $10K rule helps you recoup that quickly if you perform. If you trade futures, Apex is cheaper to enter; Bulenox earns its place on the first-$10K rule and the choice of drawdown model, not on price.
Ready to Start?
No code needed — the Bulenox discount applies through our link.
Frequently Asked Questions About Bulenox
Is Bulenox legit?›
Yes. Bulenox is a US-based futures prop firm founded in 2022. They have processed thousands of payouts. While newer than Topstep (2012) or Apex (2021), their track record is solid.
What profit split does Bulenox offer?›
Bulenox offers 100% profit on the first $10,000 you earn, then 90% profit split after that. This is one of the most generous structures in futures prop trading.
What promo codes work on Bulenox?›
We do not currently publish a discount code for Bulenox. We tested the one we previously listed and it no longer validates at their checkout, so we removed it rather than send you to pay full price expecting a discount. Prices on this page are Bulenox list prices.
What is the total cost to get funded on Bulenox?›
Total cost = (monthly fee × months to pass) + activation fee. Example for a $25K Momentum account: $94/mo × 2 months = $188, plus the one-time activation fee once you pass. Remember the evaluation renews monthly until you pass or cancel, so a slow month costs you another full fee.
What's the difference between Option 1 and Option 2?›
Option 1 uses a trailing drawdown that follows your peak balance in real-time (intraday). Option 2 uses an End-of-Day (EOD) drawdown that only adjusts at market close. Option 2 is more forgiving for scalpers but has a higher activation fee. We recommend Option 2 for most traders.
How are Bulenox payouts processed?›
Payouts are processed weekly on Wednesdays. You keep 100% of the first $10,000 you earn, then 90% after that. Payments are sent via bank transfer or cryptocurrency, typically arriving within 1-3 business days.
How many contracts can I trade on Bulenox?›
Contract limits depend on account size: $25K = 3 contracts, $50K = 7, $100K = 12, $150K = 15. These apply to standard futures contracts like ES, NQ, and CL.
Can I hold positions overnight on Bulenox?›
In the Qualification stage, all positions must be closed by 4:59 PM CT. In the Master and Funded stages, overnight holding rules may vary. Check Bulenox's current terms for the latest policy.
What instruments can I trade on Bulenox?›
Bulenox supports CME, CBOT, NYMEX, and COMEX futures. Popular instruments include ES (S&P 500), NQ (Nasdaq 100), CL (Crude Oil), GC (Gold), YM (Dow Jones), RTY (Russell 2000), and more. Micro contracts (MES, MNQ, MCL) are also available.
What platform does Bulenox use?›
Bulenox uses the Rithmic platform exclusively. Rithmic is the industry standard for futures trading, known for ultra-low latency execution and reliable data feeds.
How does Bulenox compare to Apex Trader Funding?›
Bulenox: From $94/mo recurring, 100% first $10K, 3-stage path, Rithmic, trailing or EOD drawdown.
Apex: Larger accounts (up to $300K), 2-stage path, no consistency rule, one day to pass, $600M+ paid out.
Verdict: Bulenox for budget traders. Apex for those who want faster funding and a more established firm.
What is the Bulenox activation fee?›
After passing your Qualification Account, you pay a one-time Master Account activation fee: $143 (25K), $148 (50K), $248 (100K), $498 (150K). This includes data feed and maintenance fees. No additional monthly charges.
Can I use NinjaTrader with Bulenox?›
Yes. Bulenox uses Rithmic as its execution engine, which is compatible with NinjaTrader, Sierra Chart, Quantower, Bookmap, and other Rithmic-supported platforms. NinjaTrader is the most popular choice among Bulenox traders.
Is there a free trial for Bulenox?›
Bulenox doesn't offer a free trial. The cheapest way in is a $25K Momentum evaluation at $94/month, billed as a recurring subscription. There is no free tier and no trial period.
What happens if I fail the evaluation?›
If you fail (hit drawdown or daily loss limit), you can reset your account. One free reset is included with each subscription renewal. Additional resets cost $78. Your subscription continues and you start fresh with the same rules.
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