REVIEW
Buoy Trade
“Bouy Trade Review: Unveiling Insights and Performance Analysis”
“BuoyTrade: Unveiling Global Trading Talent | Our Evaluation Process Identifies Skilled Traders for Direct Access to Significant Capital Opportunities”
BuoyTrade is committed to identifying accomplished traders globally through a rigorous evaluation process designed to recognize specific qualities. Established on the principle that skilled and disciplined traders should enjoy direct access to significant capital, BuoyTrade aims to eliminate barriers in the proprietary online industry. The platform extends an invitation to individuals who can demonstrate their trading prowess, providing them with the opportunity to engage in trading activities utilizing BuoyTrade’s capital.
In pursuit of its overarching goal, BuoyTrade actively seeks profitable and seasoned traders capable of excelling with financial support in volatile market conditions. Traders are afforded the opportunity to achieve substantial profits by managing account sizes of up to $1,024,000, with a profit split of 50%. This is attainable through engaging in trading activities involving Forex pairs, commodities, and indices.
Who are them?
BuoyTrade, a proprietary trading enterprise, achieved successful initiation of operations in February 2021. Located in Singapore, the firm offers traders the prospect to oversee capital sums of up to $1,024,000, with a profit-sharing arrangement of 50%. Through a partnership with Eightcap, its Australian-based broker, BuoyTrade has strategically positioned itself in the financial domain.
The corporate headquarters are located at 7 Temasek Boulevard #12-07, Suntec Tower One, Singapore.
Funding Option
BuoyTrade offers its traders two different funding programs to choose from:
- Apex edition funding program accounts
- Standard edition funding program accounts
Apex edition Funding program account
BuoyTrade’s Apex Edition funding program provides traders with the opportunity to skip the evaluation process and start earning immediately. The primary emphasis is on adhering to the 5% maximum loss rule, with traders eligible for a 50% profit split based on their trading profits, leveraging up to 1:10.
Scaling Plan for Apex Edition Funding Program Account
The Apex Edition funding program account incorporates a scaling plan detailed in the accompanying spreadsheet. To qualify for scaling and profit split withdrawal, traders need to achieve a profit target of either 5% or 10%.
The trading instruments applicable to the Apex Edition funding program account include forex pairs, commodities, and indices.
Rules Governing the Apex Edition Funding Program Account
The profit target represents the specific profit percentage traders must reach before concluding an evaluation phase, withdrawing profits, or scaling their account. Scaling without a profit split requires achieving a 5% profit target, while scaling with a profit split necessitates a 10% profit target.
The maximum loss is the threshold beyond which a trader’s overall losses result in an account violation. All account sizes are subject to a 5% maximum loss rule.
Minimum trading days specify the required duration for trading before completing an evaluation phase or requesting a withdrawal. Traders must participate in a minimum of one trading day per week.
Standard edition Funding program account
The BuoyTrade Standard edition funding program account enables traders to forgo the evaluation process, allowing immediate earnings initiation. Adherence to the 5% maximum loss rule is essential. Traders receive a 50% profit split based on the trading profits achieved with a leverage of up to 1:20.
Scaling Plan for the Standard Edition Funding Program Account
The Standard edition funding program account incorporates a scaling plan, outlined in the accompanying spreadsheet. Eligibility for account scaling is contingent upon reaching a profit target of 5% or 10%, facilitating the withdrawal of the profit split. Tradable instruments within this program include forex pairs, commodities, and indices.
Rules Governing the Standard Edition Funding Program Account
The profit target represents a predetermined profit percentage that traders must attain to conclude the evaluation phase, withdraw profits, or scale their accounts. The profit target for scaling without the profit split is 5%, while it is 10% for scaling with the profit split.
The maximum loss stipulates the highest allowable overall loss before violating the account. All account sizes are subject to a 5% maximum loss rule.
The minimum trading days requirement mandates a minimum trading duration before completing the evaluation phase or requesting a withdrawal. Traders must engage in a minimum of one trading day per week.
What's makes it different from other prop firm?
BuoyTrade differentiates itself from other prominent firms in the industry through the introduction of two distinct direct funding programs: Apex edition and Standard edition. Significantly, both funding programs lack a maximum daily loss rule and impose no restrictions on the trading period. Additionally, they offer considerable flexibility in trading styles, permitting activities such as trading during news events, holding positions overnight, and engaging in weekend trading.
The BuoyTrade Apex edition funding program represents a direct funding initiative. Scaling the account involves a 5% profit target, while opting for account scaling with a profit split requires a 10% profit target. Adhering to fundamental rules includes maintaining a maximum loss of 5% and participating in a minimum of one trading day per week. In contrast, there are no constraints on maximum daily loss or trading period, and traders can utilize leverage of up to 1:10.
Similarly, the BuoyTrade Standard edition funding program is a direct funding initiative. It features a 5% profit target for scaling, while opting for account scaling with a profit split necessitates a 10% profit target. Fundamental rules encompass a maximum loss of 5% and a minimum of one trading day per week. Conversely, there are no limitations on maximum daily loss or trading period, and traders can employ leverage of up to 1:20.
In summary, BuoyTrade distinguishes itself from other industry-leading proprietary firms by offering two distinct direct funding programs: Apex and Standard edition. Notably, these programs feature no maximum daily loss rule and no restrictions on trading periods, allowing traders to implement various strategies, including trading during news events, holding positions overnight, and participating in weekend trading.
Is getting capital real?
It is imperative to evaluate the feasibility of trading requirements when considering proprietary firms aligning with your forex trading preferences. While a firm offering a substantial percentage profit split on a well-funded account may seem appealing, success is compromised if they expect high monthly percentage gains with minimal percentage maximum drawdowns.
Acquiring capital through the Apex Edition funding programs is a viable option, as these are direct funding programs enabling immediate earnings commencement with a 1:10 leverage. The objective is to achieve average profit targets (5% for scaling and 10% for scaling and withdrawal), coupled with the flexibility to request withdrawals on a bi-weekly basis.
Similarly, securing capital through Standard Edition funding programs is realistic, as they are direct funding programs offering a starting point for earnings with a 1:20 leverage. The target remains achieving average profits of 5% for scaling and 10% for scaling and withdrawal, with the option to request withdrawals bi-weekly.
Considering these factors, BuoyTrade emerges as a commendable choice for securing funding, presenting two distinct direct funding programs with realistic trading objectives and conditions for payout eligibility.
Proof of payment:
BuoyTrade was established in February 2021, extending bi-weekly payouts to its clients. Direct accounts entail a profit target of 5% without profit splits, or a profit target of 10%, where a profit split is awarded. Funded verified trader accounts, conversely, have no minimum profit targets.
which broker they use?
BuoyTrade has seamlessly integrated its technology with Eightcap, an ASIC-regulated brokerage based in Melbourne, Australia. Established in 2009, Eightcap is committed to delivering exceptional financial services globally, with a presence in five offices and regulatory compliance in multiple jurisdictions. Eightcap offers a comprehensive range of features, including Forex Trading, CFD Trading, Cryptocurrency Trading, Social Trading/Copy-Trading, 326 Tradeable Symbols, and 45 Forex Pairs. Clients can choose between two account types: Raw and Standard, each with distinct commission and fee structures.
As an exclusive MetaTrader broker, Eightcap provides access to both MetaTrader 4 and MetaTrader 5 platforms. Notably, Eightcap received recognition as the Best Global Forex MT4 Broker 2020 at the Global Forex Awards. Regarding trading platforms, Eightcap exclusively supports Meta Trader 4, offering users a robust and feature-rich environment for their trading activities.
BuoyTrade enables trading of forex pairs, commodities, and indices with leverage up to 20:1.
Education and support fro traders
BuoyTrade’s website does not currently feature educational content. A detailed discussion about BuoyTrade can be found on Forex Factory, where users share valuable insights and experiences related to the firm. Notably, BuoyTrade is mentioned in the ‘PROP FIRM HUB’ thread initiated by a user named Masterrmind on Forex Factory.
BuoyTrade is actively developing a client dashboard set to launch in 2022. For additional information, the company’s FAQ page addresses various queries. Support services are accessible via social media or direct email communication at support@buoytrade.com during business hours, Monday to Friday, from 8:30 AM to 5:30 PM (Local time GMT+8).
The live chat support team on their website operates during specific timeframes:
- Local time (GMT+8): 8:00 AM – 9:00 PM
- New York (EST): 8:00 PM – 9:00 AM
- Central Europe Summer Time (CEST): 2:00 AM – 3:00 PM
For additional assistance, a Support channel is available on their Discord channel to address any support or technical issues.
Trader's comment about it
BuoyTrade has received commendable reviews, particularly on Trustpilot, where a diverse community has provided positive feedback, resulting in an impressive overall score of 4.2/5 from 21 reviews. The platform stands out for its swift and dependable customer support, ensuring timely provision of essential information and assistance for any uncertainties. The support team consistently receives praise for their responsiveness and helpful demeanor, demonstrating a commitment to meeting users’ needs comprehensively.
Social media stats
BuoyTrade can also be found on social media.
They have a:
- Instagram account with 274 followers, and
- Telegram account with 1,110 subscribers.
They also have a Discord channel with 917 members where you can follow all of their announcements, ask for help in their support channel, or just chat with the community about trading strategies.
Conclusion
In summary, BuoyTrade is established as a reputable proprietary trading firm, providing traders with a choice between two distinct direct funding programs: Apex and Standard editions.
The BuoyTrade Apex Edition Funding Program offers traders a direct funding opportunity, bypassing the evaluation period to immediately engage in trading a funded account and earning bi-weekly profit splits. Adherence to the 5% maximum loss and a minimum of one trading day per week is mandatory, with leverage of up to 1:10 allowed. Notably, Apex Edition Funding Program accounts provide a 50% profit split and the flexibility to scale accounts.
Likewise, the BuoyTrade Standard Edition Funding Program is a direct funding option, allowing traders to skip the evaluation phase and commence trading a funded account with bi-weekly profit splits. Compliance with the 5% maximum loss and a minimum of one trading day per week is requisite, with leverage of up to 1:20 permitted. It is essential to recognize that, similar to the Apex Edition, the Standard Edition Funding Program accounts enable a 50% profit split and the capacity to scale accounts.
BuoyTrade is recommended for individuals seeking a proprietary trading firm with direct funding programs and transparent guidelines. As a relatively recent entrant in the proprietary trading arena, BuoyTrade offers favorable conditions through its two distinct direct funding programs, catering to a diverse range of traders with unique styles. Upon careful consideration of BuoyTrade’s offerings, it can be affirmed that the firm is an excellent choice for those seeking a reliable direct funding prop firm.