Blue Guardian Capital Review
Blue Guardian Capital offer funded accounts for forex traders up to $200,000 and an 85% profit share if they pass the evaluation phase which has very flexible trading conditions.
At Blue Guardian Capital, they work to support knowledgeable and skilled traders in maximising their abilities to the fullest extent possible and securing a funded account. They are also traders, so are aware of the challenges that traders encounter when they lack funds. Therefore, your excellent trading talent paired with their evaluation method can result in a mutually beneficial partnership.
Founded in 2019, they think it is impossible to create and keep up the kind of high returns that other prop firms need to pass. That is why their team has created a mechanism that they think will provide traders of all various styles an opportunity to become sponsored traders.
As with all prop firms, they seek to find skilled, experienced, disciplined traders and allocate them with a sufficient amount of funding. They accredit smart traders giving them the potential to make real profit with demo funds. Extending a helpful hand that can bring them one step closer to financial independence.
Blue Guardian Capital keep things nice and simple when it comes to the evaluation and funded account phases. The trading conditions are very flexible and rules straightforward. You can choose the account size that meets your needs and get a maximum of $600,000 in funded accounts.
Evaluations
Blue Guardian Capital need to confirm that you are a regularly profitable trader before they let you trade with them. As a result, they have created trading objectives that you must fulfil in order to be evaluated. By achieving these trading goals, you demonstrate that you are a focused and seasoned trader.
Phases 1 and 2 of the evaluation consist of trading on a demo account using MetaTrader 4, where you must achieve the profit target without breaking any trading restrictions in order to move on to the next phase. You must complete the 2-stage evaluation to become a funded trader receiving an 85% profit split.
25K, 50K, 100K, and 200K are the 4 account sizes they provide. The amount of accessible balance to trade on the account is the account size. For Evaluation Phases 1 and 2, as well as a funded account, you will be trading the same account balance.
They have a scalable strategy that funded traders can use which allows you to grow your account to $1,800,000. Additionally, you can combine funded accounts together. Multiple Evaluations may be purchased to trade simultaneously and independently. Up to a combined 600k in funded accounts can be merged together.
Your trading account is funded by them, and they are liable for any losses. If traders lose money, there won’t be any fees applied. Every account is used in a demo environment.
Phase 1
The evaluation process’s first step is called Phase 1. To move on to Phase 2, you must succeed here. Demonstrate your ability to trade and discipline by adhering to the Trading Objectives over the course of a 30-day trading term.
Phase 1 profit goals of 6% are much more attainable than the 10% demanded by some other proprietary firms. This makes it possible for all traders to have an equal opportunity to advance in their trading careers by becoming funded traders.
When you make your first trade on your account, your evaluation begins. After opening your account, you have 30 days to execute your first trade. You will forfeit your account if you don’t.
Phase 2
The second and last stage of becoming a funded trader is Phase 2. Over the course of 60 trading days, you are evaluated. After you complete this phase and your outcomes are confirmed, you will join the company as a funded trader. The evaluation parameters are very flexible without the restrictions you can find at some prop firms.
When you get your first payout, the evaluation cost you paid for the account you finished is entirely refunded. It is not refundable if you fail your evaluation before receiving your first payout.
Phase 3
You have now been financed by Blue Guardian Capital as a trader. If you trade consistently and properly, you can receive 85% of the profit split. This is slightly above the industry average of 80% but not quite as generous as FTMO who offer a 90% profit share. They also provide bi-weekly payouts so you can get paid every 14 days instead of waiting a full 30 days of trading.
They offer to scale your account in accordance with the scaling plan if your trading account consistently generates profits. Simply maintain a 4% average throughout the course of four months, and they will increase their investment up to $1,800,000. The initial balance will be divided into 30% increments and given to traders.
Process
As with most prop trading firms, the process is quite simple. You just need to choose and register for one of the evaluations. You will then receive your login details to access the trader dashboard where you can keep track of everything. Start your evaluation by trading according to the rules and objectives shown conveniently on the dashboard. After you have successfully passed the evaluation, you will receive your funded account and can get bi-weekly payout if you remain profitable.
- Sign-up to an evaluation
- Receive your login details
- Start trading according to the rules
- Pass the evaluation phase
- Get access to a funded account
- Make profits and get payouts
You must follow some basic rules if you want to pass the challenge without being in violation of the terms. An account will no longer be eligible for funding if it violates the evaluation’s trading guidelines or other regulations. Your account will be cancelled, and the Trader Agreement will expire, if it violates the guidelines or trading parameters on the funded account.
Please be aware that not all infractions are detected automatically and that some will only be confirmed by the risk team after an account check. You can use the trader dashboard to keep track of your trading activity and make sure you are sticking to the rules.
Trading Strategies
One of the big advantages that Blue Guardian Capital have over some other prop firms is that they have less restrictions when it comes to how you can trade.
They allow expert advisors (EAs) that you setup to suit your own strategy or trading style. If they find multiple traders using the same EA, they may restrict the EA from being traded on funded accounts. The EA must not use a hidden stop loss and take profit.
News trading, overnight and weekend holding are allowed. There are also no restrictions on lot size limits or martingale/hedging strategies. Stop losses are not required but recommended to make sure you do not breach the maximum drawdown rules.
You may copy trades from your external account to one of the funded or evaluated accounts. The same trades cannot be executed manually or using a copier on two or more accounts. Account access will be lost as a result of this breach. Trading on each account separately is required.
Bad trading techniques they don’t allow which conflict with how the real market operates include, but are not limited to:
- Use of platform or data freezing
- Use of delayed data feed
- Trading on delayed charts
- Use of hedging trades between accounts
- Trading at a huge economical event (e.g. flash crash)
- Tick Scalping, Micro-Trading, High Frequency Trading, Arbitrage and Gap Filling strategies
- Gambling or predatory trading
Minimum Days
Both Phases 1 and 2 have a minimum of 5 trading days. Every day, you must execute at least one trade. For a minimum number of trading days, you must trade using the same trading strategy.
Profit Target
The trading goal is to hit the profit target. You are given the option of a funded account if the profit target is met after all positions have been closed.
- Phase 1: Reach 6% profit target within 30 calendar days without violating any rules and trading parameters.
- Phase 2: Reach 6% profit target within 60 calendar days without violating any rules and trading parameters.
Maximum Daily Loss
A maximum daily loss of 4% of the initial account value is permitted.
The following is how they determine daily drawdown: The daily loss cap for the current day will be a fixed 4% of the initial amount subtracted from the higher of the account balance or account equity at the 5pm Eastern time day change.
Example 1: If you have an open trade with a $2,000 floating profit on a $100,000 account at 5 p.m. Eastern Standard Time, your account equity will be $102,000. The equity cannot fall below $98,000 with a 4% daily drawdown ($102,000 – $4,000 = $98,000) on the following trading day.
Example 2: If you have an open trade with a floating loss of $2,000 on a $100,000 account at 5 p.m. Eastern Time, your account equity will be $98,000. Your daily drawdown limit of $4,000 will be determined on a balance of $100K because your balance of $100K exceeds your equity of $98,000. As a result, the equity for the following trading day cannot go below $96,000 ($100,000 – $4000 = $96,000).
Example 3: The daily downside will be 4% of the closed balance if there are no open trades at 5 p.m. Eastern Time.
Maximum Total Loss
10% is the highest drawdown that can be made from your account during the evaluation period. Using a $100,000 account as an example, the maximum loss is $10,000, or 10% of your initial amount. Your account equity, which includes unrealized/floating holdings, must never fall below 90% of your starting balance.
Inactivity
A funded account must be traded within 65 days of funding. Otherwise, it will be labelled inactive and you won’t have access to it.
Retry
You may be eligible for limitless Evaluation retries following the initial attempt if you did not violate the trading parameters on phase 1 and your account equity was not below the starting balance after the completion of the 30 calendar days. Phase 1 alone is affected by this. After the 30-day period has passed, you will automatically receive a retrial if your account qualifies.
Scalping Plan
There is a scaling plan as with most prop firms. You can increase your account up to a maximum of $1,800,000 with your scaling strategy.
You need to earn 12% over the course of 4 months, with at least 2 of those months needing to be profitable, in order to scale your capital and grow. If you succeed in doing so, they will raise the size of your account by 30% of your initial sum.
Payouts
14 days after making their first trade on the funded account, a trader is eligible for a payout. 14 days later, they are once more eligible. A least 4% profit must have been made by the trader before requesting a withdrawal. For instance, a trader may request a withdrawal 14 days after making their initial deal, on the 14th. If they get their withdrawal on the 14th, they will be able to request another withdrawal on the 28th, which is 14 days later.
Your account amount must be greater than your starting account balance and there must be no violations in order for you to be eligible for a payment on funded accounts. To be eligible for a payout, a trader’s positions must all be flat (i.e., no open transactions or open orders). After the request has been approved, the payouts are completed within 1-3 business days.
Payment techniques include:
- Transfer by bank
- Bitcoin
- Wise
- PayPal
You can always email support to see if they can assist you if for some reason you are unable to use one of these payment options. Before being eligible for any Funded Account, a trader must be confirmed by providing a government-issued ID (driver’s licence or passport), proof of address sent within the last three months, and a completed Funded Trader Agreement.
Brokers
The partner broker for Blue Guardian Capital is Purple Trading (Seychelles). The Evaluation Program is run on a MetaTrader 4 demo account with live market data. The Funded accounts are also on MetaTrader 4 demo. Purple Trading has a wide selection of currency pairs, low spreads and fast execution of trade orders. They are a relatively well know broker that has been around a while so traders can trade with peace of mind.
Platforms
You can trade with this prop firm on the industry standard MetaTrader 4 platform. This is one of the most user-friendly forex trading platforms, that comes with a plethora of excellent trading tools for conducting chart analysis to make informed trade decisions. You can view real time data of all your favourite trading instruments across multiple timeframes. MT4 makes everything from analysis to placing and managing trades as straightforward as possible. If you are more of an MT5 user, then you might want to checkout Finotive Funding as an alternative option.
Instruments
The financial instruments available are Forex, Indices, Commodities and Crypto (not on weekends). Leverage is quite high and goes as follows: Forex 1:100, Gold & Commodities 1:20, Indices 1:50, Crypto 1:2.
The Blue Guardian Capital accounts offer deep liquidity for ECN spreads and quick execution speeds. This makes them suitable for day trading, scalping and automated trading with prop firm expert advisors.
The commission is $3.5 per side or $7 per lot round turn. This is average and not as low as some other prop firms who charge a $5 commission such as TopTier Trader or Alpha Capital Group who have zero commission fees.
Dashboard
With the help of the trader-friendly dashboard, you can easily keep track of your trading progress. This is important to make sure that you are following the rules and reaching the objectives in order to qualify from an evaluation and maintain a funded account. It has an intuitive interface with all of the vital information and statistics all in one convenient place.
| Maximum capital | $1,800,000 |
| Profit split | 85% |
| Scaling | Yes |
| News trading | Yes |
| Weekend trading | Yes |
| Automated trading | Yes |
| Free trial | No |
| Maximum leverage | 1:100 |
Overall, there is a lot to like about the Blue Guardian Capital prop trading firm. Primarily, they are very lenient in terms of what trading strategies you can use. They have a great selection of trading instruments available to trade on MT4 with very competitive conditions. The trading dashboard is handy to stay on top of things.
The targets during the evaluation phase are realistic with a refundable fee should you pass. This will give you access to a funded account with a generous 85% profit share and scaling plan that can grow the account all the way up to $1,800,000 for the most successful traders.
On the other hand, they could improve by providing some educational content and assist traders with up to date market analysis to help them make informed trade decisions. There aren’t any free trials and MT5 is not yet available. If you can see past these minor points, then there is no reason why they cannot be considered amongst the top prop trading firms.
How do I start the Evaluation process?
What is an Evaluation?
What is the Evaluation duration?
The traders in Phase 1 have 30 calendar days to fulfil their profit goals and go on to the next phase. The trader may move on to phase two if the profit target in phase one is achieved before the 30 days have passed without breaking the regulations.
The second phase gives traders 60 calendar days to attain their profit objective. The trader will be qualified for a funded account if the profit target is achieved before the 60 days without breaking the restrictions.
