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BuoyTrade Review
BuoyTrade is a Singapore firm offering funded trading accounts, not a normal forex broker. You pay a program fee and can keep up to 80% of profit, but it holds no financial license.
Min Deposit
$50
Spreads From
0.0 pips on majors like EURUSD, through partner broker Eightcap
Max Leverage
Up to 1:20 on the Apex plan. The standard Buoy Direct plan uses 1:5 to 1:10
Platforms
MetaTrader 4
Pros
- It is a real, live registered company in Singapore, not just a website
- No evaluation step is needed before you trade its Buoy Direct plan
- You can keep up to 80% of profit once your account is scaled up
- BuoyTrade covers trading losses inside its 5 percent loss limit
- Spreads start from 0.0 pips through its partner broker Eightcap
Cons
- BuoyTrade holds no license from MAS or any other financial regulator
- The fee you pay is not a deposit, so you never trade your own money live
- A reviewer reported trades closed without warning after a broker change
- There is no free demo account, only paid evaluation and Direct plans
- No Islamic or swap free account option is offered
BuoyTrade is a proprietary trading firm based in Singapore, not a forex broker. The company behind it is BuoyTrade Private Limited, Singapore company number 202104630D. It says on its own site that it started operating in 2020, from an office in Suntec Tower One in the city center.
There is no deposit here. You pay a one time fee, from $50 for a $1,000 funded account up to $198 for a $4,000 account, and skip any evaluation under its Buoy Direct plan. BuoyTrade then lets the balance grow to $1,024,000, keeps losses inside a 5 percent limit, and pays 50 to 80 percent of the profit you make.
Trading runs on MetaTrader 4 through its partner broker Eightcap, with spreads from 0.0 pips and leverage up to 1:20 on its Apex plan. BuoyTrade holds no license from any financial regulator. Independent reviews are mixed, and one trader reported open trades closed without warning after the firm changed its broker.
Min. Deposit
USD 50
Max Leverage
Up to 1:20 on the Apex plan. The standard Buoy Direct plan uses 1:5 to 1:10
Spreads From
0.0 pips on majors like EURUSD, through partner broker Eightcap
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
