Bulenox and Halcyon Trader Funding at a glance

1201 N Orange St, Suite 7149 Wilmington, DE 19801, United States

Steve A. Kubik

2022

2024

• Halcyon may transition traders to a Live Brokerage account once consistency and risk management are demonstrated.
• Trader Live Training Program: intermediate stage in a simulated environment that rewards milestones before live transition.
• Live Brokerage: daily reward requests (Mon–Fri), 100% profit split, swing trading allowed, margin-based contract limits.
• Exclusive to the Ironbeam platform.
• Starting capital on live typically matches the qualifying Reward Account's drawdown amount.

• Legacy Master: requests can be submitted at any time and are processed weekly on Wednesday.
• Momentum Master and Fast Track: eligible requests submitted before 12:01 PM CT, Monday–Friday, are processed the same day.

• 6 qualifying trading days are required before each reward request
• All 6 days must meet the applicable Minimum Daily Profit Requirement
• Lite/Prime minimums: $100 for 25K, $200 for 50K and $350 for 150K
• Dynamic minimums: $200 for 50K, $275 for 75K, $325 for 100K and $400 for 150K
• After each approved reward, all qualifying trading days reset to zero
• No payout window: requests can be submitted whenever the dashboard shows an eligible reward amount
• Processed first-in, first-out, up to 3 business days

Legacy Master — first three payouts:

Momentum Master:

Fast Track:

Lite and Prime

• 25K: 50% of profits, up to $1,000 per reward
• 50K: 50% of profits, up to $2,000 per reward
• 150K: 50% of profits, up to $3,000 per reward

Dynamic

• 50K: up to $1,250 per reward
• 75K: up to $1,550 per reward
• 100K: up to $2,000 per reward
• 150K: up to $3,000 per reward

Maximum 5 approved rewards per account. After the 5th reward, the account may be reviewed for transition to the TLT Program or a Live Brokerage account.

• Legacy Master: $1,000.
• Momentum Master: $500 on 25K; $1,000 on 50K, 100K and 150K.
• Fast Track: $1,000.

Minimum reward request: $250. Lite, Prime and Dynamic Reward Accounts only need net profit above their starting balance; there is no buffer to clear.

• Momentum Master: 5 qualifying profitable days per cycle. Minimum profit per qualifying day: $100 on 25K, $150 on 50K, $200 on 100K and $250 on 150K. Minimum balances: $26,500, $53,000, $104,500 and $156,500 respectively.
• Fast Track: later payout goals after the first payout are $1,000 on 25K, $2,000 on 50K, $3,000 on 100K and $4,500 on 150K.

• Based on the default (free) membership tier of platform partners.
• Fees include: exchange, NFA, clearing and platform commission.
• Calculated per contract, per round trip.
• Micro contracts generally have lower fees than mini contracts.

• Legacy Qualification: resets cost $78. Active recurring Legacy subscriptions keep the free reset available on their renewal date.
• Momentum Qualification: reset available; price not announced. A reset does not extend the 30-calendar-day validity.
• Fast Track: no reset option.

• Unlimited resets available for a fee (via the Trader Dashboard).
• Restores a fresh account balance with all risk parameters reset.

• Halcyon Prime: 1-Day Pass add-on. Price by size: +$18 (25K), +$27 (50K), +$41 (150K).
• Bypasses the 40% consistency rule.
• Allows passing the evaluation in a single trading day.
• Halcyon Lite has no add-ons.

• Legacy No Scaling Account: real-time Trailing Drawdown.
• Legacy EOD Account: End-of-Day Drawdown.
• In Legacy Master accounts, both thresholds stop moving when they reach the initial balance +$100.
• Momentum and Fast Track Option 1: Trailing Drawdown.
• Momentum and Fast Track Option 2: EOD Drawdown.
• The amount for each account appears in the challenge table.

Halcyon Lite (Intraday Trailing)

• $25K: $1,000 | $50K: $2,000 | $150K: $4,000
• Tracks Total Liquidation Value including unrealized profits
• Locks permanently at starting balance + $100 after the first approved reward

Halcyon Prime (End-of-Day)

• $25K: $1,000 | $50K: $2,000 | $150K: $4,500
• Updates only at end of trading session based on closing balance
• Locks permanently at starting balance + $100 after the first approved reward

Halcyon Dynamic

• Evaluation: $2,000 on the 50K account; Intraday or End-of-Day selected at purchase
• Reward: $2,000 on 50K | $2,500 on 75K | $3,000 on 100K | $4,000 on 150K
• Reward drawdown can be Intraday or End-of-Day, independently of the evaluation choice
• Locks permanently at starting balance + $100 after the first approved reward

• First $10,000 in eligible cumulative profits per trader profile: 100% to the trader.
• Thereafter: 90% to the trader and 10% to Bulenox.
• The first-$10,000 threshold is shared across accounts and products.

90/10 profit split on all Lite, Prime and Dynamic Reward Accounts. Trader keeps 90%, firm keeps 10%.

The Rithmic 14-day free trial (equivalent to 10 trading days) is offered directly by Rithmic and is available only to traders who have not previously registered or used Rithmic services.

Legacy:

Only EOD accounts have a Daily Loss Limit. If it is reached, trading is paused for the rest of the day without being treated as a rule breach. It stops applying when the maximum drawdown reaches the initial balance.

Momentum and Fast Track:

Option 1 has no Daily Loss Limit. Option 2 has a Daily Loss Limit where specified in the challenge table.

No daily loss limits on any plan.

• Unlimited Qualification accounts.
• Shared limit of 5 Master-level accounts across the Bulenox products.

• No buffer. Removed for accounts purchased from 8 Aug 2026.
• To request a reward it is enough to be above the account starting balance: there is no locked amount to build or maintain.
• Previously a buffer of drawdown + $100 was required, and withdrawing from within it was not allowed.
• After the first approved reward, the maximum loss limit moves permanently to starting balance + $100.

Once the funded account is achieved, all active master accounts must be merged into a single funded account.

• Legacy and Momentum Qualification: 30 calendar days from activation.
• Fast Track: not applicable because there is no Qualification.

• Evaluation accounts expire after 30 calendar days if not passed.
• Accounts inactive for more than 30 calendar days are disabled.

• Legacy Qualification: 1 trading day to pass. Legacy Master: 10 trading days before payout.
• Momentum Qualification: 1 trading day to pass. Momentum Master: 5 qualifying profitable days per payout cycle.
• Fast Track: no minimum trading days before payout.
• Funded Account: 5 trading days per payout.

• Halcyon Lite Evaluation: 1 trading day
• Halcyon Prime Evaluation: 3 trading days, or 1 day with the 1-Day Pass add-on
• Halcyon Dynamic Evaluation: 1 trading day
• All Reward Accounts: 6 qualifying trading days before each reward request; the counter resets to zero after each approved reward

• Legacy Master: one-time activation fee; amounts applicable from August 17 must be confirmed at checkout.
• Momentum Master: no activation fee.
• Fast Track Master: activation is included in the one-time Fast Track fee.

Lite and Prime

• With activation-fee pricing, the activation fee is paid once after passing
• With no-activation-fee pricing, no payment is required after passing
• Both options lead to the same Reward Account rules

Dynamic

• After passing, the trader pays a one-time upgrade fee based on the selected Reward Account size, drawdown type and consistency option

• Momentum Master: 5 qualifying profitable days per payout cycle.
• Fast Track: no minimum profitable-day requirement.

• Halcyon Lite Evaluation: 1 trading day
• Halcyon Prime Evaluation: 3 trading days, or 1 day with the 1-Day Pass add-on
• Halcyon Dynamic Evaluation: 1 trading day
• All Reward Accounts: 6 qualifying trading days meeting the applicable Minimum Daily Profit Requirement before each reward request

Only EOD accounts have scaling.

$10K EOD Account Scaling

$25K EOD Account Scaling

$50K EOD Account Scaling

$100K EOD Account Scaling

$150K EOD Account Scaling

$250K EOD Account Scaling

• Legacy Qualification and Momentum Qualification: one-time purchase with no recurring subscription; valid for 30 calendar days.
• Active Legacy subscriptions opened before August 17, 2026 remain under their existing subscription terms.
• Fast Track has no Qualification stage.

Lite and Prime
Two one-time pricing options are available:

• With activation fee: lower evaluation fee, then a separate activation fee after passing
• No activation fee: higher all-in evaluation fee; upgrade to the Reward Account is free

Dynamic

• One-time 50K evaluation fee: $47 with Intraday Trailing drawdown or $49 with End-of-Day drawdown
• A separate Reward Account upgrade fee is paid after passing

No subscriptions or recurring billing.

• Bots, algos and semi-automated systems are allowed.
• You must be the sole owner of the system.
• The system cannot be used across multiple firms.
• HFT (high-frequency trading) bots are not allowed.
• Halcyon may request proof of usage.

• Contract limits are applied based on account size.
• Excessive daily contract usage is prohibited (over 250 contracts across micros or minis).

Accounts must place at least one trade every 30 consecutive calendar days. Accounts inactive for more than 30 days will be considered inactive and may be disabled. Evaluation accounts also expire 30 calendar days after starting if not passed.

• Legacy Master: 40%.
• Momentum Master: 35%.
• Fast Track: 20% for the first payout, 25% for the second and 30% from the third onward.
• No consistency rule applies during Qualification.

Halcyon Lite

• No consistency rule on evaluation or reward accounts.

Halcyon Prime

• 40% consistency rule on BOTH evaluation and reward accounts.
• No single trading day's profit may exceed 40% of total profits during the qualifying period.
• 1-Day Pass Add-On allows bypassing the consistency requirement during evaluation only.

Halcyon Dynamic

• When upgrading after passing the evaluation, the trader chooses a Reward Account with 40% consistency or no consistency.

Day trading only. All positions must be closed and all orders canceled by 4:45 PM EST (New York Time). Positions are automatically liquidated outside trading hours. No overnight or weekend holding on any account type.

• Hedging on the same or related underlying assets (e.g. ES + MES, NQ + MNQ)
• Opposite Direction Trades within or across accounts (CME Rule 534 – Wash Trades, CME Rule 575 – Disruptive Practices)
• Mixing micro and mini contracts on the same asset
• Holding positions outside trading hours / overnight / weekend
• Account sharing or third-party trading

• All positions must be closed and all orders canceled by 4:45 PM EST.
• Positions are automatically liquidated outside trading hours.
• Failing to close may trigger automatic liquidation and account failure.