FTMO vs Bulenox: Which Futures Prop Firm Offers Better Terms?

Last updated: August 8, 2026 | 16 min read

This is a clash of two worlds: FTMO, the forex king that built the modern prop firm industry, versus Bulenox, the aggressive futures challenger selling $50K evaluations for pocket change. I broke down every rule, fee, and payout at both firms to answer the only question that matters - which one actually puts more money in your pocket?

The headline answer: Bulenox is far cheaper and structurally easier to pass, but it only covers futures. FTMO costs more and demands more of you, but it covers forex, indices, and crypto on a decade-old payout record. Your market decides which firm even deserves a spot on your shortlist.

The Big Picture

FTMO has dominated forex prop trading since 2015 with a strict two-phase model, a 5% daily loss limit, and a reputation for paying out on time. It is the safe choice: a decade of track record, MT4/MT5/cTrader support, account sizes up to $400K, and payouts roughly 14 days after request. In 2025 it rebranded to FTMO Global as part of a legal restructure - the product you know is unchanged.

Bulenox is the futures disruptor. It sells a single-phase evaluation with an 8% profit target, no time limit, and no minimum trading days - at roughly a third of FTMO's price. You trade ES, NQ, and CL on Rithmic or TradingView, and the trailing drawdown structure rewards consistent risk management over raw speed. The $50K daily loss is capped at $1,000 and the trailing max drawdown sits at $2,500.

Neither firm is a scam and both pay out. The real decision is about market: forex versus futures, and the structural rules that come with each.

Comparison Table: FTMO vs Bulenox

Fees Compared: Bulenox Is Absurdly Cheap

There is no contest on price. Bulenox charges around $125 for a $50K account and $190 for $100K, with frequent sales that push the effective cost even lower. FTMO's equivalent is $350 for $50K and $540 for $100K. That means you can attempt a Bulenox challenge four times for the price of one FTMO attempt.

For traders who are still refining their edge, the cheaper retry economics of Bulenox are a genuine advantage - failure costs less, so learning costs less. The trade-off is that Bulenox uses a trailing drawdown, which is less forgiving than FTMO's static 10%. You are paying for ease of re-entry, not for safety once you are in the account.

Rules Compared: Two Phases vs One Relaxed Phase

FTMO runs two phases: 10% profit in Phase 1, then 5% in Phase 2, each capped at 30 days with a 5% daily loss and 10% static max drawdown. It is a proven framework, but it is demanding - most traders fail on the daily loss limit, not the target. FTMO allows extension of any phase for a fee and needs only 4 trading days per phase.

Bulenox compresses everything into one phase: an 8% target with a $1,000 daily loss and a $2,500 trailing max drawdown on a $50K account. There is no clock and no minimum day count. The trailing drawdown is the catch - it locks in your equity high-water mark, so a big early win followed by a slow bleed can still end your run. A static drawdown would forgive that; a trailing one will not.

Payouts Compared

Both firms split profits at 80% and scale toward 90%. FTMO processes payout requests roughly 14 days after submission and adds on-demand withdrawals after you've banked two free profit splits. Bulenox follows the standard futures-firm cadence with payouts around every 14 days, and its 80-90% split matches FTMO's range.

For futures traders, the real payout difference is market microstructure: ES and NQ moves are bigger per contract than forex pips, so a funded Bulenox account can hit meaningful payouts faster per unit of risk - if you survive the trailing drawdown. The trade-off is that FTMO's portfolio offers crypto and broader instruments that futures-only traders simply do not touch.

Trailing vs Static Drawdown: The Key Difference

FTMO gives you a static 10% max drawdown. That means your floor does not move - you lose 10% of your starting balance and you are out, no matter how high you pushed equity along the way. It is predictable and forgiving.

Bulenox uses a trailing $2,500 max drawdown on $50K. The higher your equity rises, the higher the floor rises with it - so if you make $1,000 then give back $1,000, an early loss that would have been fine at FTMO can spell the end at Bulenox. If you trade trend-following strategies with deep pullbacks, this matters enormously; if you cut losses tight, the trailing structure barely touches you.

Background: The Forex King vs The Futures Disruptor

FTMO (2015 – Present)

FTMO professionalized prop trading from Prague in 2015 and has paid out over half a billion dollars since. Its two-phase model — 10% then 5% targets, 5% daily loss, 10% static drawdown — became the template the whole industry copies. It survived the 2023-2024 shakeout by restructuring into FTMO Global and never missed a payout. It covers forex, indices, and crypto on MT4, MT5, and cTrader, with account sizes up to $400K.

Bulenox (2021 – Present)

Bulenox is part of the newer wave of futures firms built for speed and price. Its single-phase evaluation — 8% target, no time limit, no minimum trading days — runs on Rithmic and TradingView, and its pricing ($125 for $50K, $190 for $100K before sales) undercuts FTMO by roughly two-thirds. It is legitimate, has a growing payout record, and is one of the most relaxed futures evaluations on the market.

The Trailing vs Static Drawdown: Where Runs End

This is the single biggest rule difference between the two firms. FTMO's static $5,000 floor on $50K never moves — you always know exactly how much room you have left. Bulenox's trailing floor rises with your equity: make $2,000 and your floor rises with it, so giving back gains can end your run even if you never touched the original stop. Trend followers with deep pullbacks will find FTMO more survivable; scalpers who bank profits quickly will barely feel the trailing level.

Real Trader Experiences (2026)

Case Study 1: The Discount Hunter

Client was new to futures and priced out of FTMO's $540. He found Bulenox's $125 entry and passed on his second attempt: "Four attempts at Bulenox cost less than one at FTMO. The no-time-limit rule meant I could wait for my setups. Failure cost me $125 and a lesson — not $540 and a month of evenings."

Case Study 2: The Swing Trader Who Hit the Trail

Client runs a trend system with deep pullbacks and passed FTMO easily but blew two Bulenox attempts: "The trailing drawdown caught me both times. I'd bank $1,500, pull back $1,200, and the floor had moved under me. FTMO's static 10% is the only reason my style can survive an evaluation."

Case Study 3: The Portfolio Trader

Client runs both: "Bulenox is my futures scalping account — the price is unbeatable and the rules are relaxing. FTMO holds my forex and crypto book. They don't compete; they cover different markets with different rulebooks."

Who Should Choose Bulenox

• Futures traders (ES, NQ, CL) on Rithmic or TradingView.
• Traders who hate deadlines — no time limit, no minimum days.
• Traders maximizing retries per dollar — four attempts for the price of one FTMO.
• Disciplined scalpers who respect a tight trailing floor.

Who Should Choose FTMO

• Forex, crypto, or multi-market traders on MT4/MT5/cTrader.
• Swing traders whose strategies tolerate deep floating drawdowns.
• Traders who want a predictable static drawdown and $400K scaling.
• Anyone who values a decade-long verified payout record.

Frequently Asked Questions (Expanded)

Q: Does Bulenox allow weekend holding?
A: Yes — as a futures firm, Bulenox allows positions to be held over the weekend, which matches most futures prop firms' policy.

Q: Can I use an EA on Bulenox?
A: Bulenox allows automated trading on most accounts per its rules; FTMO permits EAs on most programs too. Always check the current brief at the time of purchase.

Q: Which firm is more reliable for payouts?
A: FTMO holds a decade-long, industry-best payout record. Bulenox has a shorter but growing history and follows the standard 14-day futures payout cycle.

Which Is Better for Your Trading Style?

Choose Bulenox if: you trade futures, you want the cheapest entry into the industry, or you hate deadlines - no time limit and no minimum days suit patient, discretionary traders perfectly.

Choose FTMO if: you trade forex or crypto, you want a static drawdown instead of a trailing one, or you value a decade-long payout track record over headline prices.

Need Help Passing FTMO or Bulenox?

I've passed 500+ prop firm challenges with a 95% success rate. $220 flat for any account size, at either firm. Free test challenge available first so you can verify my results before you commit.

Message me on Telegram to start: @Voraspas

Frequently Asked Questions

Q: Is Bulenox cheaper than FTMO?
A: Yes - a $50K Bulenox evaluation is about $125 versus FTMO's $350, and $190 vs $540 at $100K. Bulenox also runs frequent discounts, so wait for a sale before buying.

Q: Can I trade forex at Bulenox?
A: No. Bulenox is futures-only (ES, NQ, CL) on Rithmic or TradingView. Forex and crypto traders belong at FTMO.

Q: Does Bulenox have a time limit?
A: No time limit and no minimum trading days. It's one of the most relaxed evaluations in the industry.

Q: Which firm is easier to pass?
A: Bulenox - one phase, 8% target, no clock. FTMO needs 10% then 5% across two phases with 4 minimum trading days each.

Q: Which pays out faster?
A: Both are reliable. FTMO pays about 14 days after request; Bulenox pays on the standard futures-firm 14-day cycle.

Q: What is Bulenox's drawdown structure?
A: On $50K, daily loss is $1,000 and max trailing drawdown is $2,500. The trailing floor rises with equity, unlike FTMO's static 10%.

Related Guides

• FTMO Challenge Rules 2026 Explained
• Bulenox Challenge Passing Service
• Best Futures Prop Firms 2026

← Compare all 50+ prop firms