Welcome to the registration to BluFX Ltd (“us”, “we”) website and its related services. You may access many areas of our website without registering your details with us. Certain areas are only open to you if you register. The terms and conditions which govern material submitted by you to us and your use of the www.blufx.co.uk website (including all ‘BluFX’ branded microsites and any email bulletins) are governed by our general “Terms and Conditions of Reading”. These Terms and Conditions of Registration are in addition to the general Terms and Conditions of Reading.
1.1 •By registering here and creating your “BluFX Profile”, you can access different services that are offered by us without having to register for each service separately. If a service you wish to subscribe to has additional terms and conditions, you will be asked to accept these separately.
1.2 You agree that:
(1) •you will keep your username and password safe, and won’t share them with anyone.
(2) •you will not pass yourself off as someone else or create multiple, false accounts.
2.1• If you breach these or any of our other terms and conditions we reserve the right to close your account, if we do so, we may close all accounts you have open in your name.
2.2 •To deactivate your account please contact our support team; their details can be found under “contact us” on our home page.
3.1 •You can update your personal details (including your account and marketing preferences) by accessing your account at your BluFX Profile page and making any necessary changes; this will update your details across all services that you have subscribed to.
5.1 •No waiver by us of any breach of these terms shall constitute a waiver of any other prior or subsequent breach and we shall not be affected by any delay, failure or omission to enforce or express forbearance granted in respect of any of your obligations.
5.2 •The rights and remedies of is under these terms are independent, cumulative and without prejudice to its rights under the law.
5.3 •These terms are not intended to create and shall not create any rights, entitlements, claims or benefits enforceable by any third party by virtue of the Contracts (Rights of Third Parties) Act 1999.
5.4 •These terms and/or your use of the website shall be governed by and construed in accordance with English law and the English Courts shall have exclusive jurisdiction over any dispute which may arise.
6.1 • The trading account and all funds remain the property of BluFX. Subscriber traders are not liable for any losses incurred during their authorised trading activity on the BluFx account.
6.2 • Traders are compensated on a profit split basis only. Traders keep 50% of their profits if and only if a profit target of 5% is reached.
6.3 • Traders will initially manage a $50,000 trading book on Pro and Islamic subscription and $25,000 on Lite subscription.
6.4 • Traders may only trade on major and minor pairs. Any of the following currencies may be traded as pairs: CHF, USD, GBP, EUR, JPY, CAD, AUD, NZD, XAU.
6.5 • Traders may not trade exotic pairs or indices. Non of the following currencies may be traded: XAG, SEK, CHN, HKD, MXN, NOK, DILS, ZAR, TRY. Trading in any of these currencies is classed as unauthorised trading activity.
6.6 • All traders must adhere strictly to a maximum drawdown of 10% of starting balance. Any trader breaching the maximum drawdown must stop trading. Continued breach of the maximum drawdown will be classed as unauthorised trading activity.
6.7 • Hedging is not allowed. 2 or more opposing positions that result in margin limit breaches are deemed to be unauthorised trading activities.Traders may not use EA's, scripts or robots. Nor may traders engage in copy trades, hedging or following other traders' entry and exit signals. All trades must be based on the traders own analysis and decisions.
6.8 • BluFX are not responsible for any technical issues arising from the usage of MT4 or any other systems provided by their appointed brokers.
6.9 • Only one account per individual is permitted
7.1 •Trading hours are 06:00 – 2100 Monday – Friday London time (0800 - 2300 MT4 time). All positions must be closed on Fridays at 2100 London time (2300 MT4 time)
7.2 •Traders may not open new trades outside the trading hours.
7.3 •Pro and Islamic subscription traders are authorised to hold or close existing positions outside the trading hours
7.4 •Lite subscription traders are authorised to open and close all positions within the trading hours.
8.1 •Any pattern of unauthorised trading will leave the trader ineligible for withdrawals or account growth.
8.2 •Any pattern of unauthorised trades after a warning will result in instant account closure.
8.3 •Any funds gained in the trading account as a result of unauthorised trades will be removed from the account and credited to BluFX by means of a withdrawal. Losses will not be moved.
8.4 •All actions related to unauthorised trading activities are implemented by automatically our risk system and are final.
8.5 •Warnings related to unauthorised trading activity may not always be sent before action is taken by the risk system..
8.6 •Only one account per verified individual is permitted. Traders are not permitted to allow others to trade their account and may not trade on any other BluFX account. IP addresses, device IDs and behavioural data maps will be used by the automated risk system as a basis for determining unauthorised trading activity.
8.7 •All traders must be contactable on the telephone number provided during verification at anytime a position is held in the markets. BluFX reserve the right to demand extra video verification at anytime. Failure to contact the trader or to verify identity will result in trade deletion and/or account suspension
9.1 • Traders are compensated on a profit split basis only. Traders keep 50% of their profits if and only if a profit target of 5% is reached.
9.2 • Requests for withdrawal can be made whenever the account balance is at least the original 100% + 5% and the subscription is active
9.3 • Withdrawals in blocks of 5% are deducted upon request from the trading account. There is no limit on withdrawals on a monthly basis. • The traders profit split of 50% is then transferred to the traders equity account and is held separately from the trading account. The total amount requested will be sent to the trader on the 25th of each month.
9.4 • Withdrawals are processed up to the 20th day of each month and are payouts to the trader are made on the 25th of each month.
9.5 • Payments will be made by bank transfer or PayPal to an account in the traders own name. Alternative payment methods may be available however the trader must ensure that payments related to FX may be received by the institution/regulators in the traders geographic location. BluFX partners with several ambassadors in various countries to assist in payout.
9.6 • BluFX will not be responsible for failure to deliver a payout due to adverse regulatory directives in a specific country or region. Nor will payment be re sent in the event of rejection of transfer by the receiving foreign institution.
10.1 • Refunds may be requested within 14 days of INITIAL subscription
10.2 •The amount receivable is based on the number of days remaining on licence divided by 30, and then multiplied by the licence fee.
10.3 •Any losses made during the period of subscription are deducted from refund amount.
10.4 •If losses exceed the value of the amount in 10.2 then the trader is ineligible for a refund
10.5 •Refunds will not be issued should the trader continue to trade after requesting the refund.
10.1 •All Traders with negative balances may receive refinance back to the initial balance of $25000 or $50000 for a n extra charge
10.2 •This is subject to approval by the risk team and is only available to those without unauthorised trades on record.
11.1 •Pro and Islamic subscriber accounts will be doubled in size by means of a capital injection once 10% profit on the initial starting capital is realised. The 10% growth deposit must be maintained in the account and may not be withdrawn. 5% profit withdrawals are separate and may be withdrawn at anytime.
11.2 •Promoted traders to stage 2-4 will receive additional benefits and an easing of certain restrictions subject to market conditions. Stage 2 removes the 0.5 lot order cap. Stage 3 allows the opening of trades outside trading hours. Stage 4 allows over weekend positions.
11.3 •Promoted traders may not withdraw any of the growth deposits of 10%
11.4 •Promoted traders must respect the drawdown limit of 10%. Any breach of the maximum drawdown level will result in the additional funding being removed.