BuoyTrade Review
BuoyTrade is a proprietary trading firm where you can trade up to $1,024,000 and receive a 50% profit split whilst they cover the losses.
BuoyTrade was established with the vision of an exciting future where deserving traders have direct access to substantial capital. With your outstanding trading expertise and their funds, they can create a fantastic relationship. As traders themselves, they understand how it feels to start trading with a tiny capital account.
BuoyTrade is committed to finding traders and has created a methodology that allows traders to thrive and even turn trading into a career. They fund traders so that they can develop together. Without traders, they would be nothing, thus they make sure traders receive attractive trading conditions.
Since 2020, this prop firm have been functioning successfully and have supported local Singaporean traders. As trading can be done online, they have since made the decision to accept traders from across the world. Aspiring traders now have the opportunity to adopt their Institutional A-Book model and advance their proprietary trading career with them.
Successful traders from all around the world are wanted by BuoyTrade. They have created trading challenges to separate and identify them in order to determine whether a trader possesses all the characteristics they ar looking for.
Depending on your trading goals, you can select one of three programme alternatives. Choose a programme that is appropriate for your trading strategy. If you can show them you have the trading skills during the evaluation phase, you can get access to trade on a funded account using their capital.
Traders who complete the programme successfully are given the opportunity to join the BuoyTrade Proprietary Trading firm, where they can manage up to 10 accounts totalling $1,024,000 remotely and continuously develop their account in accordance with the Scaling Plan.
You have the right to keep up to 50% of the profits you make as a BuoyTrade Trader. Any losses are fully covered by the company. This is not the largest profit share you will find, FTMO are one of the best prop firms and they have a generous 90% profit share.
Apex Edition
With a BuoyTrade Apex Edition funding programme account, traders can forego the evaluation entirely and begin making money right away. You should only be concerned with adhering to the 5% maximum loss limit. If can use leverage of up to 1:20 while trading and will receive 50% of the profits. There is a one-time fee of $78 to get started.
Standard Edition
With a BuoyTrade Standard Edition funding programme account, you can also skip the evaluation process entirely and start earning right away. You should only be concerned with adhering to the 5% maximum loss limit. The profit you get is split into 50% for you whilst you can use 1:5 leverage. There is a onetime fee of $68 to get started.
The goal of the BuoyTrade Direct programme is to identify potential traders and determine whether you can follow the guidelines while trading with real money. By adhering to the clear-cut principles and Scaling Goals, you demonstrate your trading discipline and experience.
Trading Period
You have a limitless amount of time to build up with Buoy Direct at your own speed. You do not have to wait for the required number of days if you are able to reach your desired profit sooner. By emailing them, you can ask for a scale-up, and they will take care of it as quickly as they can.
There are no minimum trading days which is a great advantage they have over some prop firms who require a minimum of 10 days trading or more.
Maximum Loss
This rule is also known as an “account stop-loss.” At no time during the account’s lifetime may the trading account’s equity fall below 95% of the starting account balance.
With a balance of $1,000 for the BuoyTrade Direct, the lowest possible equity for the account is $950. Once more, the total above includes both closed and open positions (account equity, not balance).
The trader has enough room to demonstrate that his or her account is appropriate for the investment with 5% of the starting account amount. It serves as a cushion that should enable the trader to continue playing even after some initial losses. The investor is guaranteed that under no circumstances will the trader’s account fall below 95% of its value.
Making money on the account, however, allows traders to increase their tolerance for drawdowns because every profit increases the account’s buffer before it reaches the 5% Static Drawdown.
Trading Strategies
This prop firm don’t impose any restrictions on the instruments or position sizes you can trade, so your trading strategy is completely up to you.
They have no justification for limiting or restricting your trading approach, including algorithmic trading, prop firm expert advisors (EAs), copy trading, news trading, hedging and discretionary trading. You care allowed to trade overnight and hold weekend positions.
It is forbidden for expert advisers (EA) to engage in millisecond scalping. These expert advisors are ineffective in the liquidity-rich environment of BuoyTrade and only perform admirably on Demo Accounts. On their platform, they statistically have a high failure rate.
Due to the artificial liquidity demo accounts have, there is a significant percentage of violations on their desks. Daniel, the head of the trading desk, strongly advises against buying a tick scalper from any website. Instead, he urges you to save your money and learn how to trade manually with good risk management.
There are no restrictions on your manual trading style or plan as long as it is legal, complies with current market circumstances, and can be replicated in live trading accounts.
Scaling Plan
In the Verified BuoyTrade Account, capital increases happen every four months. For a capital increase, the trader must make at least an additional 10 percentage points of profit over the course of four consecutive months (for instance, an average gain of at least 2.5% per month). At least two of these four months must also be lucrative.
The trader’s balance during the scale-up period must be more than the initial capital (in profit). The initial capital of the BuoyTrade Account will be raised by 25% if the trader meets this condition. The scale-up will be delayed until the balance is in profit if the balance is less than the initial capital.
| Scaling Levels | Account Capital in USD | Target Profit 5% (No Profit Split) | Target Profit 10% (Taking Profit Split) |
|---|---|---|---|
| One Foot In | $1,000 | $50 | $100 |
| Level 1 | $2,000 | $100 | $200 |
| Level 2 | $4,000 | $200 | $400 |
| Level 3 | $8,000 | $400 | $800 |
| Level 4 | $16,000 | $800 | $1,600 |
| Level 5 | $32,000 | $1,600 | $3,200 |
| Level 6 | $64,000 | $3,200 | $6,400 |
| Level 7 | $128,000 | $6,400 | $12,800 |
| Level 8 | $256,000 | $12,800 | $25,600 |
| Level 9 | $512,000 | $25,600 | $51,200 |
| Level 10 (Max) | $1,024,000 | – | – |
Together with it, risk parameters will be eased and the methodology for calculating loss limits will change appropriately. If the trader continues to meet the criteria for appreciation and the ratio of successful months after another 4 months, he or she will become eligible for a further growth of the capital by 25% of the Starting Capital of the BuoyTrade Account. Capital increases have no upper limit.
The following table presents a hypothetical scenario of how the capital and risk parameters would evolve on the BuoyTrade Account if the trader had passed the evaluation process with initial capital of $100,000 USD and had met the requirements for capital increases:
As you can see in the table above, in the best-case scenario, the trader will have at his or her BuoyTrade Account double the capital and twice the loss limitations by the end of the second year (this applies to any starting capital).
This scaling plan will motivate traders to engage in consistent trading while avoiding unwarranted risks and treating the BuoyTrade Account with a long-term perspective. Please be aware that trading is generally a dangerous endeavour and that high returns are not guaranteed.
Maximum Accounts
The prop firm allow a trader to have a maximum of 10 active BuoyTrade accounts open at once. In other words, $10,240,000 is the maximum allotment per trader or strategy (after scaling).
Please be careful not to register for more than 10 accounts at once. They retain the right to suspend those accounts in accordance with the T&Cs if they find the same person information across multiple accounts and more than 10 Active Accounts.
Dormant Account
BuoyTrade try to avoid keeping accounts that are inactive because doing statistical calculations on them uses up server resources. Also, knowing if you are still trading is helpful to them.
If you don’t make at least one deal that week, it’s not a serious infraction. In the unfortunate event that you were unable to trade due to illness, please let them know as soon as you are able. If the cause is supported by reliable documentation, they will accept it and restore the account.
In essence, opening or ending a trade counts as one active day; opening and closing are not required. An active day can be defined as only one of the actions. So, the day you open a position in Week 1 counts as an active day. You don’t have to close positions.
If you close the exact same position in Week 2, it counts as an active day for the whole week. Partial profit taking is also regarded as “Active.”
You will have to pay a reinstatement charge of 2% of your current account balance if your justification is deemed to be inadmissible.
Payout
The account profit split is carried out every two weeks. After receiving the invoice, payouts are processed in 1-2 business days. If you have questions about the invoicing procedure, you can get in touch with the finance department. Your earnings can be transferred to you using a standard bank wire transfer, PayPal, or Wise.
You have the option of keeping your Profit Split in the account if you’d want to expand it as well as your balance and drawdown buffer. Please be aware, nevertheless, that they will never withhold their portion of the Profit Split.
Brokers
BuoyTrade have partnered with the reputable and regulated brokerage firm Eightcap. This means that you can trade with some of the best trading conditions in the industry including tight spreads from 0.0 pips, low commission fees and reliable trade execution speeds at the best possible prices.
Eightcap combines tier-1 bank, non-bank and ECN liquidity to give you superior pricing across a range of global markets 24/5. Their world class trading technology and A-book dealing model allows you to focus purely on trading. There are many other prop trading firms who use Eightcap, including Leveled Up Society and The Funded Trader.
BuoyTrade’s broker has 100% institutional live market data-feed directly from liquidity providers, and with Direct Market Access (DMA). They don’t have any mark-ups at all, you get the best market conditions perfectly reflecting live market conditions.
Platforms
The MetaTrader 4 (MT4) platform is available for you to trade on with BuoyTrade. MT4 has a fully customisable user interface that is easy to navigate around. It comes fully loaded with a plethora of trading tools for conducting in-depth market analysis on all of your favourite instruments. You can trade manually and run automated trading strategies.
It would be great if they could also add support for the newer MT5 platform.
Instruments
You can trade forex, commodities and indices with BuoyTrade. They have a fantastic selection of major, minor and exotic currency pairs. However, they are lacking when it comes to individual stock instruments. If that is something you are looking for then you might want to consider Lux Trading Firm as an alternative prop firm.
The official leverage on the Apex account is 1:20 for Forex and Metals 1:10 for Indices for all levels. This is not the highest leverage you will find but it does help to control drawdowns. If you want higher leverage, then FTUK and E8 Funding offer up to 1:100 leverage.
| Maximum capital | $1,024,000 |
| Profit split | Up to 50% |
| Scaling | Yes |
| News trading | Yes |
| Weekend trading | Yes |
| Automated trading | Yes |
| Free trial | No |
| Maximum leverage | 1:20 |
Being a trader is a challenging way to make a living. You can have control up to $16,000 of initial funds with the BuoyTrade Prop Trading company. You will receive 50% of any gains you achieve on the BuoyTrade Account, while their funding partner company will keep the remaining portion. It is important to keep in mind that this is the best-case scenario and that traders may occasionally experience losing streaks.
Trading is generally a risky endeavour. However, you won’t be held accountable for losses, if any, when trading for BuoyTrade. In the event that something goes wrong, the funding partner will pay all losses on the BuoyTrade Account.
As traders themselves, the team at BuoyTrade is aware that becoming a successful trader requires more than just having access to sufficient funds. The success of their traders directly reflects the success of the business. Thus, it serves in their best interests that traders trade in the most favourable circumstances.
Then there is the discipline of trading. You will trade according to simple principles while they closely monitor your trading results. The trading rules are quite lenient compared to some prop firms who do not allow all types of trading strategies. There are no onerous rules like daily drawdowns, forced stop losses, or maximum trading position sizes. You will therefore have a good chance once you begin trading with them.
Another problem that traders have is the infamous “keep and grow or withdraw and go” dilemma. Do you prefer to enjoy your hard-earned money or compound your account? You are able to accomplish both at BuoyTrade. Your 50% profit share will be paid out by BuoyTrade on a monthly basis. If you regularly show profitability, they will periodically add more trading capital to your BuoyTrade Account. You can use the Scaling Plan to get paid while expanding concurrently.
Overall, they might be a relevantly new prop trading firm but they have a very competitive offering that is certainly worth consideration if you are happy with a 50% profit share and want to trade with a regulated brokerage firm.
Where is BuoyTrade located?
Who can join BuoyTrade?
Can I trade during the news?
Do I need to close my positions before the weekend?
What trading strategies am I allowed to use?
How much capital will I work with?
What is a legal relationship between the trader and the BuoyTrade ?
Can I use a mobile trading platform?
Do they charge any other fees? Are the fees recurrent?
How do I apply for the BuoyTrade Evaluation?
I paid for my BuoyTrade Direct, when will I get the account?
What payment methods are available?
Why is there a fee?
In other words, paying the charge is essential to getting your BuoyTrade Account financed. The good news is that since they will cover any potential losses on the BuoyTrade Account, you cannot lose more than this amount. The price also includes operational costs for paying vendors and running the business as a whole.
The fee also serves the function of separating the serious dealers from the try-hards. They are seeking for profitable and seasoned traders. Due to the finite nature of resources and capacities, they are unable to serve every trader out there. Because of this, they only hire serious, committed, and accountable people. The BuoyTrade funding programme is a highly valued service they provide, so the pricing is fair.
