BluSky Trading Review 2024

BluSky Trading Overview

What is BluSky Trading?

BluSky Trading is a prominent online brokerage and prop firm that caters to traders of varying expertise levels. Launched with an aim to empower traders, BluSky Trading provides an extensive range of tradeable assets that span from conventional markets to contemporary cryptocurrencies.

An integral part of their offering is the evaluation accounts system, where aspiring traders can showcase their skill sets by meeting preset profit objectives, effectively managing risks, and conforming to designated trading standards over a set span of trading days.

Underpinning their services with core values of transparency, integrity, and unwavering dedication to trader satisfaction, BluSky Trading stands as a modern-day beacon for those aiming to thrive in the rapidly changing trading landscape.

External BluSky Trading Reviews & Ratings

Here are some reviews from traders who have experienced the platform firsthand:

What Account Types Are Offered?

In line with their commitment to cater to a diverse set of traders, BluSky Trading Company offers a range of account types to suit different trading needs. These accounts come in three primary variants – Advanced 25K, Premium 50K, and Premium+ 100K. Each account type varies in terms of the financial goals, the number of minimum and micro contracts allowed, and the trailing drawdown limits. All evaluation accounts have 8 minimum trading days and require a 30% consistency rate, both of which are removed once you move to a funded account.

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Advanced 25K – $136

The Advanced 25K account is an excellent entry point for those venturing into the world of prop trading. With a $1,500 financial goal and a $1,200 trailing drawdown in the evaluation phase, it offers a balanced mix of risk and reward. It allows for trading up to 4 mini contracts or 40 micros and a daily loss limit of $600. Once funded, the trailing drawdown becomes a $1,200 Trailing-To-Fixed Drawdown, stopping at $300 above the starting balance. The Advanced 25K account can be accessed at a discounted price of $82 for 30 days with the discount code ‘JULY4’, and there’s no setup fee for the funded account.

Premium 50K – $189

The most popular account offering is the Premium 50K account. It offers a financial goal of $3,000 with a $2,000 trailing drawdown during the evaluation phase. This account allows for trading up to 10 mini contracts or 100 micros and has a daily loss limit of $1,000. When funded, the trailing drawdown becomes a $2,000 Trailing-To-Fixed Drawdown, stopping at $1,000 above the starting balance. You can start trading with the Premium 50K account for $113 for 30 days using the discount code ‘JULY4’, and there’s no setup fee for the funded account.

Premium+ 100K – $290 

The Premium+ 100K account is designed for experienced traders with higher trading volumes. It comes with a financial goal of $6,000 and a $2,500 trailing drawdown during the evaluation phase. This account permits up to 14 mini contracts or 140 micros with a daily loss limit of $2,000. In the funded stage, the trailing drawdown becomes a $2,500 Trailing-To-Fixed Drawdown, stopping at $1,000 above the starting balance. Using the discount code ‘JULY4’, you can begin trading with the Premium+ 100K account for $174 for 30 days, and there’s no setup fee for the funded account.

In summary, BluSky Trading’s account offerings are structured to provide opportunities for traders at every level. They provide a risk-controlled environment that allows traders to demonstrate their skill and earn a funded account. With the right discipline, trading strategies, and consistency, these account offerings from BluSky Trading Company can serve as a robust platform for financial success.

What can I Trade with BluSky Trading?

BluSky Trading provides a wide array of financial instruments to trade, offering traders an extensive reach across various markets and exchanges. Whether you’re an experienced trader with a preference for specific markets or a novice seeking exposure to diverse asset classes, BluSky Trading has something for you.

Equities & Indices: For those who focus on indices, BluSky offers access to markets like the E-mini S&P 500, E-mini Dow, E-mini NASDAQ 100, and E-mini Russell 2000 among others. For Japanese market enthusiasts, you have the Nikkei 225, and European traders can access the DAX and EURO STOXX 50 Index.

Forex: BluSky supports trading in major currency pairs like the Euro, British Pound, Japanese Yen, and Swiss Franc, along with minor pairs like the Australian Dollar/Japanese Yen and Euro/Swiss Franc. Additionally, you can access emerging market currencies like the Brazilian Real, Mexican Peso, Russian Ruble, and South African Rand.

Commodities: BluSky also caters to commodity traders, offering access to markets for gold, silver, copper, platinum, and palladium. Agricultural commodities like corn, soybeans, wheat, and rough rice are also available.

Interest Rates & Bonds: For traders focusing on fixed income instruments, BluSky provides exposure to a range of T-Notes and T-Bonds, interest rate swaps, and SOFR futures.

Cryptocurrencies: BluSky stays abreast of the latest trends in financial markets, offering futures contracts for Bitcoin and Ether, catering to the growing demand for cryptocurrency trading.

Volatility Index: For those interested in volatility trading, BluSky allows trading in the CBOE Volatility Index (Vix).

All these offerings and more are available across a number of global exchanges, including CBOT, CME, COMEX, EUREX, ICE, MGE, and NYMEX.

In essence, BluSky Trading’s wide range of tradable financial instruments can cater to your specific trading preferences, whether you’re into stocks, forex, commodities, fixed income, or cryptocurrencies. By offering such a comprehensive selection, BluSky maintains its reputation as a versatile and trader-centric prop trading firm.

What is The Profit Split?

BluSky Trading’s profit-sharing model is designed to encourage successful trading and foster a mutually beneficial long-term relationship between the traders and the firm. The model operates on a tiered scale:

• Traders keep 80% of profits up to $20,000.
• From $20,000 to $50,000, the share rises to 85%.
• Over $50,000, traders receive 90% of profits.
• For profits over $100,000, BluSky offers custom deals.

BluSky processes payouts daily for requests made before 12 PM EST on weekdays. There’s no minimum trading day requirement for payouts, only the transition from BluLive to the brokerage account is necessary. Withdrawals have a minimum limit of $250 and no maximum limit, but enough drawdown should be left for continued trading.

Each account has a minimum balance, from $25,300 for a $25,000 account up to $101,000 for a $100,000 account. Consistent traders can access the safety buffer below the minimum balance upon closing their account.

Payouts are managed through Deel.com, which also provides the 1099 tax forms. Deel supports multiple deposit methods, including ACH, PayPal, Coinbase, Binance, among others. In essence, BluSky’s profit-sharing model is designed to support and reward its traders, bolstering its status as a leading prop trading firm.

What Platforms are Supported?

In its pursuit to provide an optimal trading environment, BluSky Trading Company supports a wide range of professional trading platforms, each offering a distinct set of features and tools designed to enhance the trading experience. These platforms are compatible with BluSky Trading’s services and can be used seamlessly across all account offerings.

TradingView: Renowned for its sophisticated yet user-friendly interface, TradingView is one of the most popular trading platforms supported by BluSky. It offers interactive charts, numerous technical indicators, and a robust community of traders from which to glean insights.

NinjaTrader: NinjaTrader is a cutting-edge trading platform renowned for its advanced charting, market analytics, and automated strategy development features. Its compatibility with BluSky’s services provides traders with a reliable and comprehensive trading toolkit.

Quantower: Famed for its flexibility and robustness, Quantower is another platform supported by BluSky. It offers a broad range of features such as multi-asset trading, volume analysis, and advanced order types, making it a favorite amongst many traders.

Bookmap: BluSky also supports Bookmap, a platform that provides an insightful visual display of the market depth and order flow, helping traders understand market dynamics and make informed decisions.

Jigsaw Trading: Noted for its focus on day trading, Jigsaw Trading offers innovative tools to help traders understand market activity and execute trades more effectively. The platform is designed to provide clear, detailed market information to enable traders to act with speed and confidence.

Sierra Chart: Sierra Chart, known for its solid design and high performance, provides a complete Real-time and Historical, Charting and Technical Analysis platform for the financial markets. It’s packed with an abundant set of features that makes it well-received amongst traders.

Motivewave: This platform provides advanced charting and market analysis tools, making it a suitable choice for both novice and experienced traders. Motivewave’s easy-to-use interface and customizable features allow traders to devise and execute sophisticated trading strategies.

In addition to the above, BluSky’s Evaluation Compatibility Chart shows that the firm is compatible with other platforms such as Tradovate, ATAS, R|Trader Pro, and other Rithmic Platforms.

What are the Trading Rules?

Understanding the trading rules is crucial for anyone wishing to succeed in BluSky Trading’s evaluation process. Here’s an overview of the key rules you need to keep in mind:

Trade at Least 8 Days: To pass the evaluation, traders must trade for at least 8 days. A trading day starts at 6 PM EST and ends at 5 PM EST the following day.

Reach Your Profit Target: Traders must achieve the profit target set for their respective evaluation accounts. This target varies depending on the type of account – $1,500 for the 25K account, $3,000 for the 50K account, and $6,000 for the 100K account.

Maintain Consistent Profits: Profits should be consistent, and traders must avoid closing the day with profits exceeding 30% of their evaluation target. For instance, those trading on a 25K account should stay under $450/day, 50K account holders under $900/day, and 100K account holders under $1,800/day. If your single day’s profit exceeds 30% of your evaluation target, the target will be adjusted according to the formula: (highest single day / 30 * 100 = new target).

However, exceeding the 30% limit in a single day does not lead to a failure. It just recalibrates your profit target to ensure that your highest profitable day remains below the 30% threshold.

There are only two ways you can fail the evaluation:

Fall Below the Minimum Balance (Trailing): The minimum trailing balance increases with your highest unrealized balance, which means it rises with profits but does not decrease with losses. For example, if the 50K evaluation account starts with a 48K minimum balance (trailing by $2000), and a trade reaches $50,750 at any point, your new minimum balance would be $48,750. If your balance falls to the minimum balance, the evaluation fails. This can be monitored in real time using the “Auto Liquidate Threshold Value” in RTrader Pro or the “Drawdown Auto Liq” column of the Accounts tab in Tradovate.

Fall Below the Daily Unrealized Loss Limit in a Single Trading Day: There is a set daily loss limit, and falling below this in a single trading day results in a failed evaluation. The daily loss limit resets at 6 PM daily.

Despite these stringent rules, there are a few things that will not lead to a failure in your evaluation:

• Trading News Events: Traders are allowed to trade during news events without any repercussions to their account.
• Contract Usage: There is no penalty for using too many contracts. The system limits the maximum contracts, and any excess will be safely rejected.
• Trading Hours: Traders don’t have to worry about trading at the wrong hours. The system limits when trades can be executed and will auto-liquidate around 15 minutes before markets close.

BluSky Trading’s evaluation rules, while rigorous, are designed to promote disciplined and consistent trading – the hallmarks of a successful trader. Understanding and adhering to these rules is crucial to advancing from the evaluation phase to a fully funded trading account.

Final Thoughts – Is BluSky Trading Worth It?

After a thorough review of BluSky Trading, we can confidently affirm that it is worth exploring for both novice and experienced traders.

The extensive array of tradeable assets across various asset classes makes it a highly adaptable platform that can cater to diverse trading preferences. Whether your interest lies in traditional markets such as equities, forex, and commodities, or you’re looking to explore newer avenues like cryptocurrency, BluSky provides an impressive range of options.

The clarity and simplicity of BluSky’s trading rules make it a user-friendly platform. The rules clearly state the benchmarks for passing the evaluation, alongside clearly defined conditions for failure. Moreover, the provision to trade any day and any news events without any restrictions on contract usage adds an extra layer of flexibility that most traders appreciate.

BluSky Trading also offers a commendable profit-sharing scheme. The more profits you generate, the larger your share becomes, offering an exciting incentive to continuously improve your trading performance.

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