BuoyTrade Review
1.5

BuoyTrade Review

BuoyTrade is on a mission to find successful traders around the world. They have developed an evaluation process to distinguish and identify an individual’s qualities that they are seeking.
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BuoyTrade has a goal to break barriers into the proprietary online industry. They allow anyone who can show them qualities by displaying their trading skill to trade with their capital.

Pros
  • Maximum capital up to $1,024,000
  • Bi-weekly payouts
  • Overnight and weekend holding allowed
  • News trading allowed
  • Every trading strategy is allowed (example: EA’s, indicators, hedging, copy trading,...)
  • A large variety of trading instruments (all forex pairs, commodities, indices)
Cons
  • 3 step evaluation process
  • Leverage up to 20:1
  • No free trial

BuoyTrade is searching for profitable and experienced traders who will strive with their funds’ help by showing skills in unpredictable market conditions. They allow them to earn high profits by managing account sizes up to $1,024,000 and taking home profit splits of 50%. They can achieve this by trading Forex pairs, commodities, and indices.

Who are BuoyTrade?

BuoyTrade is a proprietary firm that started operating successfully in February 2021. They are based in Singapore and offer their traders a chance to work with capital up to $1,024,000 in balance and earn 50% profit splits. They are partnered with Global Prime as their broker located in Australia.

Their headquarters are located at 7 Temasek Boulevard #12-07, Suntec Tower One, Singapore.

Funding program options

BuoyTrade offers traders a chance to choose between the following direct funding accounts:

  • Standard direct funding accounts
  • Apex direct funding accounts

BuoyTrade offers its traders the following standard direct funding accounts:

  • $1,000 account balance for $68
  • $2,000 account balance for $135
  • $4,000 account balance for $270
  • $16,000 account balance for $1,975

Standard direct funding accounts have no maximum trading period to complete a level, however, you must trade a minimum of one day per week. Your maximum loss limit for all levels is 5% of your initial account balance. Your profit target can be 5% of your initial account balance if you want to scale your account, however, if you want to scale your account and receive an additional profit split of 50%, you must reach a profit target of 10%.

BuoyTrade also offers traders to choose between the following apex direct funding accounts:

  • $1,000 account balance for $78
  • $2,000 account balance for $148
  • $4,000 account balance for $298

Apex direct funding accounts have no maximum trading period to complete a level, however, you must trade a minimum of one day per week. Your maximum loss limit for all levels is 5% of your initial account balance. Your profit target can be 5% of your initial account balance if you want to scale your account, however, if you want to scale your account and receive an additional profit split of 50%, you must reach a profit target of 10%.

You can see the scaling levels in the picture below:

You are allowed to trade on MetaTrader 4 while also being allowed to trade during news, hold trades overnight and during the weekends.

What makes BuoyTrade different from other prop firms?

BuoyTrade is different from most industry-leading firms due to offering direct funding programs with the potential to scale up to a balance of $1,024,000. You also have no daily drawdown limitations on your funding programs, only the maximum drawdown limitation.

Compared to other prop firms, BuoyTrade offers only up to 20:1 leverage and average profit targets of 5% to scale your account, or 10% to scale your account in addition to getting your profit split paid. BuoyTrade doesn’t limit your maximum trading day period, however, you are required to trade for a minimum of one trading day per week. In comparison to some other prop firms, these rules are quite relaxed and can benefit any trader.

Another difference from most prop firms is that you are eligible for bi-weekly payouts, which means every 14 days with a profit split of 50%. Payouts get processed within 1-2 business days upon receiving your invoice.

In conclusion, many different strategies can acquire funding from BuoyTrade due to their relaxed trading rules with almost no restrictions. You should focus on fulfilling the profit target while not exceeding the maximum drawdown limit.

Is getting BuoyTrade capital realistic?

It’s essential to see how realistic the trading requirements are when looking at prop firms that best suit your forex trading style. For example, a company offering a high % profit split on a highly funded account sounds great, but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.

After considering all of that, BuoyTrade is an excellent choice to get funded with. This is since you can choose from different direct funding levels to start your journey to scale your account all the way up to $1,024,000.

The rules for the direct funding programs are realistic since the profit target to scale is 5%, or 10% if you want to scale your account as well as acquire a profit split. Your main focus should be the 5% maximum drawdown rule, you should also note that there are no daily drawdown limitations. You have no maximum trading days period for each level, however, you are required to have at least one active trading day per week.

Weekend holding, overnight holding, and news trading are also allowed, which is excellent for Day Traders and Swing Traders looking for capital up to $1,024,000.

Payment proof

BuoyTrade was incorporated in February 2021. Their clients are eligible for bi-weekly payouts. Direct accounts have a profit target of 5% without profit splits or a profit target of 10%, where you are awarded a profit split. On the other hand, their funded verified trader accounts have no minimum profit targets.

You can see an example of the payment process in the picture below:

And an example of payment proof in the following picture:

Which broker does BuoyTrade use?

BuoyTrade uses Global Prime as its broker. They are an Australian-owned and operated financial services provider founded in 2010.

They believe that they must create conditions conducive to a trader’s success. To accomplish that, they are providing institutional trading benefits to the individual. 

Global Prime has a leadership team, that has over 80 years of combined experience within financial trading and related markets:

  • Director (Institutional); Elan Bension
  • Director (Retail); Jeremy Kinstlinger
  • GM; Angus Walker
  • CMO; Bryan Kelly

As for trading platforms, they allow you to trade on Meta Trader 4.

Trading instruments

BuoyTrade allows you to trade forex pairs, commodities, and indices with leverage up to 20:1.

FOREX:USDCHFGBPUSDEURUSDUSDJPYUSDCAD
AUDUSDEURGBPEURAUDEURCHFEURJPYGBPCHF
CADJPYGBPJPYAUDNZDAUDCADAUDCHFAUDJPY
CHFJPYEURNZDEURCADCADCHFNZDJPYNZDUSD
GBPAUDGBPCADGBPNZDNZDCADNZDCHFAUDSGD
EURMXNEURNOKEURSEKEURSGDEURTRYEURZAR
GBPNOKGBPSEKNZDSGDSGDJPYUSDCNHUSDHKD
USDMXNUSDNOKUSDSEKUSDSGDUSDTHBUSDTRY
USDZAREURRUBUSDRUB
COMMODITIES:XAUUSDXAUEURXAGUSDXPTUSDXPDUSD
XAUAUDXAGEUR
INDICES:AUS200GER30CA60HK50CHINA50
EUSTX50ES35IT40UK100FRA40JPN225
US30US500US2000NAS100NOR25SA40

Education & Support for traders

BuoyTrade does not provide any educational content on its website.

You can also find a thread about BuoyTrade on Forex Factory. You can find a lot of information and discussions about the firm itself by reading the thread. Besides that, you can read comments about experiences from their clients.

BuoyTrade has also been mentioned numerous times on Forex Factory in another thread named ‘’PROP FIRM HUB’’ made by a user named Masterrmind. 

To see the mentioned thread click here.

Another thing that they are still working on is a dashboard for their clients, which should launch in the upcoming year 2022.

Traders comments about BuoyTrade

BuoyTrade has great feedback from reviews.

On Trustpilot, they have a large variety of their community commenting and giving positive feedback with a great score of 4.1/5 out of 18 reviews. They also have a fast and reliable support team that will provide you with all the necessary information you require from them or if you are unsure of anything.

Most of their community praises their support team, who are super responsive and helpful, with anything you require, they will do their best to assist you in any way possible.

Social media statistics

BuoyTrade can also be found on social media.

They have a:

They also have a Discord channel with 742 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.

Support

BuoyTrade has a FAQ page where you might find the missing information.

The support team is available on their social media, or you can directly contact them on their email support@buoytrade.com.

Their business hours are Monday – Friday from 8:30 AM to 5:30 PM (Local time GMT+8).

Their live chat support team on their website is available:

  • 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.

You can also check out their Discord channel, which has a Support channel if you face any support or technical issues.

Conclusion

In conclusion, BuoyTrade is a legitimate prop firm offering you the chance to choose from different direct funding program levels to start your scaling journey to a balance of up to $1,024,000. These direct funding accounts have no maximum trading period to complete a level, however, you must trade a minimum of one day per week. Your maximum loss limit for all levels is 5% of your initial account balance. Your profit target can be 5% of your initial account balance if you want to only scale your account, however, if you want to scale your account and receive an additional profit split of 50%, you must reach a profit target of 10%.

I would recommend BuoyTrade to anyone who has been reaching consistent results and is interested in their scaling plan. While they are still a relatively new firm, they offer excellent conditions for a big pool of different trading styles for individuals.

Comparing BuoyTrade to other firms, they have simple rules that are quite relaxed and can benefit any trader. With their direct funding programs, you will also have a chance to start earning instantly while scaling your account to a maximum balance of $1,024,000. Your main focus should be discipline and consistency so you can slowly scale your account while earning profit splits along the way.

This review about BuoyTrade was lastly updated on 17.05.2022 at 09:26 (CE(S)T).

So, what do you think about the layout of the Proprietary Trading firm? Does BuoyTrade have the instruments that you want to trade?

Let us know if you enjoyed our BuoyTrade Proprietary Trading firm review!

BuoyTrade Review Details

Trading platform
Withdrawal Methods
Tradable instruments
Brokers
Account Currencies
Leverage
Maximum capital allocation
Account size up to:
$10,000
BuoyTrade Account
*Choose your account size and make a payment
1.0
Fees
2.0
Trading platform
2.0
Deposit and withdrawal
1.0
Customer Support
1.5 Overall Rating

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