OANDA PROP TRADER Prop Firm Rules and Challenge Fee
Regulatory Broker
Broker OANDA launched
Biweekly Withdrawal
Biweekly 14 days is the withdrawal cycle
Time Limit
Both stages have challenge time limit
Mandarin Chinese
Traditional Chinese can be used on the official website, backend, and customer service
Refundable Fee
The challenge fee will be refunded for the first withdrawal after passing the challenge
Regional Restrictions
Customers in some regions are restricted
OANDA PROP TRADER is a new prop trading program launched by OANDA in 2024. The company is registered in Malta (OANDA Labs Assessment Ltd, Malta, OANDA Global Markets, BVI).
OANDA PROP TRADER offers aspiring traders the opportunity to become funded traders. If traders meet the challenge conditions without violating rules, they can receive large capital investments in their trading accounts.
OANDA PROP TRADER offers a 2-stage challenge model.
These types of proprietary firms can be broadly categorized into Forex Prop Firms and Futures Prop Firms.
However, there are many prop firms in the market, and the industry does not yet have a direct regulatory agency. To screen out unqualified prop firms, it can be evaluated from many levels: the region where the customer is accepted, the withdrawal record, etc.
Our site will continue to monitor the Prop Firm industry, striving to identify compliant prop trading firms to offer traders a diverse range of options. In this article, we will introduce OANDA PROP TRADER, one such prop trading firm.
OANDA PROP TRADER Prop Firm: Challenge Rules and Important Considerations
2 Step - OANDA PROP TRADER
- Trading Period: 120 days for Stage 1 and 120 days for Stage 2 to complete the challenge
- Daily Drawdown: 5%
- Maximum Drawdown: 10%
- Minimum Trading Day: No minimum trading day
- Profit Target: 8% for stage 1 and 5% for stage 2
- Leverage: 100:1
Strategies and Behaviors Allowed and Prohibited by OANDA PROP TRADER
- Prohibit price or delay arbitrage
- Allow automated trading program (EA)
- Weekend positions are allowed (weekend trading is allowed)
- Allow overnight positions
- Allow no stop loss to be set
- Restricted trade news events (2 minutes before and after major news is prohibited)
- Restricted copy trading is allowed (OANDA PROP TRADER must be set as the primary account).
- Idle Account: If there is no trading in the account within 20 days, the account will be closed.
KYC verification is required after passing the challenge to receive a funded account:
After passing the OANDA PROP TRADER challenge, you must complete KYC verification in an OANDA brokerage account. If you don't already have an OANDA (OANDA Global Markets) brokerage account, you'll need to open one. If you already have an account, you'll need to complete the KYC process.
After completing KYC verification, you will receive a Funded Account. The KYC process can be completed and the account can be obtained as quickly as the same day.
Future profit-sharing withdrawals will be transferred to your OANDA brokerage account for withdrawal.
- OANDA PROP TRADER (prop account): Used for all trade orders, challenges, and proprietary account-related operational settings
- OANDA Global Markets (brokerage account): Used for KYC, withdrawals, and brokerage account-related operational settings
OANDA PROP TRADER Prop Firm Challenge Account Sizes
The 2-step model provides 5 account sizes, from a minimum of $10,000 USD account to a maximum of $500,000 USD account.
OANDA PROP TRADER categorizes account types into 5+3 varieties: Titanium, Silver, Gold, Platinum, Black Gold, as well as the newly added 10K, Titanium X, and Lucky 888.
- 10K Challenge: $10,000 USD Account
- TITANIUM Challenge: $25,000 USD Account
- TITANIUM X Challenge: $25,000 USD Account
- Silver Challenge: $50,000 USD Account
- Gold Challenge: $100,000 USD Account
- Lucky 888: $188,888 USD Account
- PLATINUM Challenge: $250,000 USD Account
- Black Challenge: $500,000 USD Account
OANDA PROP TRADER offers traders a maximum virtual allocation amount of $500,000 USD.
That is, you can have an account that adds up to a total of $500,000, for example：
- 5x$100,000 USD accounts
- 2x$250,000 USD accounts
- 1x$500,000 USD account
2-Step | 10K | TITANIUM | TITANIUMX | SILVER | GOLD | LUCKY 888 | PLATINUM | BLACK |
|---|---|---|---|---|---|---|---|---|
Account size | $10000 USD | $25,000 USD | $25,000 USD | $50,000 USD | $100,000 USD | $188,888 USD | $250,000 USD | $500,000 USD |
Daily Drawdown | 5% | 5% | 5% | 5% | 5% | 5% | 5% | 5% |
Max Drawdown | 10% | 10% | 10% | 10% | 10% | 10% | 10% | 10% |
Time Limit | 120/120 days | 120/120 days | 120/120 days | 120/120 days | 120/120 days | 120/120 days | 120/120 days | 120/120 days |
Trading Days | No | No | No | No | No | No | No | No |
Profit Target | 8%/5% | 8%/5% | 8%/5% | 8%/5% | 8%/5% | 8%/5% | 8%/5% | 8%/5% |
Leverage | 1:100 | 1:100 | 1:100 | 1:100 | 1:100 | 1:100 | 1:100 | 1:100 |
Pofit Split | 90% | 80% | 90% | 80% | 80% | 88% | 80% | 80% |
Challenge Fee | $169 USD | $249 USD | $299 USD | $399 USD | $699 USD | $888 USD | $1,200 USD | $2,400 USD |
More Info | Start | Start | Start | Start | Start | Start | Start | Start |
25% Code: BEAPRO (10K, 25K, 50K)
What are the Features of OANDA PROP TRADER Prop Firm?
OANDA PROP TRADER Broker Backed
The OANDA PROP TRADER program operates as an independent department within the OANDA Group, therefore utilizing OANDA's own brokerage resources.
OANDA holds the following global regulatory licenses:：
- The Financial Conduct Authority (FCA), No. 542574
- Australian Securities and Investments Commission (ASIC) License, Number: 26152088349
- U.S. Commodity Futures Trading Commission (CFTC), No. 0325821
- Investment Industry Regulatory Authority of Canada (IIROC), No. 09-0280
- The Financial Services Agency of Japan (FSA), Number: Kanto Finance Director (Jinshang) No. 2137
- Monetary Authority of Singapore (MAS), no number provided for supervision
Prop trading brands launched by brokerage firms offer an additional layer of security in terms of liquidity compared to pure prop trading brands. They eliminate the potential instability in the relationship between pure prop firms and brokers. Moreover, future regulations are likely to impact the prop trading industry, which may give prop trading brands of brokerage firms an advantage.
OANDA PROP TRADER Prop Firm Language Advantage
OANDA PROP TRADER offers both Chinese and English languages, catering to users in both Chinese and English-speaking markets.
OANDA PROP TRADER's Prop Firm Offers a Wide Range of Instruments
OANDA PROP TRADER provides the following instrument categories: major currencies, minor currencies, precious metals, energy, major indices, and US stocks.Basically all major products are available.
This includes EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD, NZDUSD, USDCHF. (OANDA PROP TRADER major currency pairs description)
It also includes EURCHF, EURGBP, EURJPY, AUDCAD, AUDCHF, AUDJPY, AUDNZD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURNOK, EURSEK, EURNZD, GBPAUD, GBPCAD, GBPJPY, GBPNZD, GBPCHF, NZDCAD, NZDCHF, NZDJPY, USDNOK, USDSEK, USDCNH, USDMXN, USDZAR, USDSGD. (OANDA PROP TRADER minor currency pairs product description)
It includes XAUUSD, XAGUSD. (OANDA PROP TRADER precious metals product description)
USOIL, UKOIL, NATGAS. (OANDA PROP TRADER energy products description)
It includes AU200, EU50, DE40, US30, US100, US500, FR40, UK100, JP225, NL25, ES35, CH20, SG30, HK50, CN50. (OANDA PROP TRADER major indices product description)
OANDA PROP TRADER Drawdown Rules
1. Maximum Drawdown: 5%
The daily loss limit will be calculated based on the final balance of the previous day and will be reset at 17:00 EST.
It is worth noting that the maximum daily loss is calculated at 5% based on the final balance of the previous day, not Equity.
2. Maximum Drawdown: 10% (tracking)
The maximum drawdown is the tracking method, which changes as the account balance increases or decreases.
For example, if the initial account balance at the beginning of the transaction is $100,000 and the maximum drawdown is 10%, you cannot lose less than $90,000.
If the profit from the transaction increases the balance to $105,000, the new maximum drawdown is $95,000.
You can also go to the background to track the current account drawdown status.
OANDA PROP TRADER KYC Process After Passing the Challenge
KYC verification is required after passing the challenge to receive a funded account:
After passing the OANDA PROP TRADER challenge, you must complete KYC verification in an OANDA brokerage account. If you don't have an OANDA brokerage account, you'll need to open one; if you already have one, you'll need to complete the KYC process.
After completing KYC verification, you will receive a Funded Account. The KYC process can be completed and the account can be obtained as quickly as the same day.
Future profit-sharing withdrawals will be transferred to your OANDA brokerage account for withdrawal.
- OANDA PROP TRADER (prop account): Used for all trade orders, challenges, and proprietary account-related operational settings
- OANDA Global Markets (brokerage account): Used for KYC, withdrawals, and brokerage account-related operational settings
OANDA PROP TRADER Profit Sharing
OANDA PROP TRADER profit sharing varies depending on the account type.
Accounts offer 80%, 88%, and 90% profit sharing.
You need to close all positions in order to apply for profit sharing withdrawals, and your MetaTrader account will be temporarily locked.
Once the payment application is approved, the account will be unlocked immediately and the payment will be deducted from the account.
All payments will be made to the OANDA Global Markets account (OANDA brokerage account) established during KYC after passing the challenge. Profit sharing withdrawals are all made from the OANDA brokerage account.
OANDA PROP TRADER Retake Discount
Currently, OANDA PROP TRADER has challenge time limits: 120 working days for Phase 1 and 120 working days for Phase 2.
If you fail to complete the challenge within the deadline, a 20% discount will be provided.
For example：
Trader A purchased a $250K account and spent a challenge fee of $1,200, but failed in the end.
He can choose to use a 20% discount when purchasing a new challenge, get a discount of $240 on the cost of the new challenge, and finally spend $960 to purchase a new challenge.
The discount cannot be accumulated. Regardless of the number of unsuccessful challenges, the discount is 20% off.
Whether the challenge fails in stage 1 or stage 2, the discount applies.
OANDA PROP TRADER Prop Firm Trading Platform
The trading platform provided is MT5. You can find the platform download in the client backend interface on the left side. Below, we also provide the download link for the OANDA PROP TRADER version of MT5.
Desktop Trading Platform
Mobile Trading Platform
OANDA PROP TRADER Pros and Cons
- OANDA PROP TRADER Pros
- Veteran broker OANDA resource support
- The payment cycle is 14 days biweekly
- Support traditional Chinese, easy to operate
- OANDA PROP TRADER Cons
- Restrictions on customers in some regions
- Time Limit
- Newly established, ability to successfully withdraw funds yet to be verified
OANDA PROP TRADER Prop Firm Quick Links
Risk Warning:
Forex and Contract for Difference (CFD) margin trading carries a high level of risk and may not be suitable for everyone. The high degree of leverage can work against you as well as for you. Before deciding to trade forex and CFDs, you should carefully consider your trading objectives, level of experience, and risk appetite. You may sustain a loss of some or all of your initial investment. You should be aware of all the risks associated with forex and CFD trading, and seek advice from an independent financial advisor if you have any doubts.
Please note that before deciding to purchase any retail proprietary trading firm challenge, you should carefully consider the company's challenge trading objectives, drawdown risks, and various rules. You may lose part or all of your initial funds used to purchase the challenge account.
Some proprietary trading firms (Prop Firms) provide all accounts to clients with virtual funds in simulated accounts. All trades are conducted only in a simulated environment. For details, please refer to the announcements on the official websites of each prop firm.
