OANDA Prop Trader Review: Funding, Profit Splits & More

Introduction

The proprietary trading world has exploded in popularity as traders look for ways to access larger capital without risking personal funds. One notable player in this space is OANDA Prop Trader. In this review, we will dive into the program’s key features, profit potential, funding options, evaluation process, and everything you need to know to decide if it’s the right fit for your trading journey.

OANDA Prop Trader Overview

The OANDA Prop Trader program allows traders to manage capital provided by OANDA and earn a share of profits. This program is designed for traders who demonstrate skill, discipline, and risk management abilities. It is suitable for both beginner and professional traders aiming to trade with significant capital.

• Funding options range from $5,000 to $500,000.
• Profit splits of up to 90%.
• Two-phase evaluation process ensures traders are ready for live accounts.
• Access to a wide range of instruments including forex, commodities, and indices.
• Platform: MetaTrader 5 (MT5).

Challenge Types and Evaluation Process

The OANDA Prop Trader evaluation consists of two main challenge types:

1. Classic Challenge: Aimed at traders seeking steady growth with achievable profit targets.
2. Boost Challenge: A faster route to funding with higher targets and shorter timelines.

Both challenges are divided into two phases:

• Phase 1: Achieve a specific profit target (usually 8%) within the evaluation period.
• Phase 2: Maintain stricter drawdown rules while achieving a secondary profit target (usually 5%).

Traders must also adhere to strict drawdown limits:

• Daily Drawdown Limit: 5%
• Total Drawdown Limit: 10%

Profit Splits and Payouts

OANDA’s profit-sharing structure is attractive for traders:

• Profit split of up to 90%
• Profits paid monthly
• Fee refund on the first payout

This allows traders to focus on maximizing performance without worrying about fees, and ensures that your profits remain a priority.

Trading Instruments and Platforms

Participants in the OANDA Prop Trader program can access a diverse range of instruments:

• Forex Pairs (major, minor, and exotic)
• Indices like S&P 500 and NASDAQ
• Commodities including oil and gold
• Precious metals like silver and platinum

The MetaTrader 5 platform is used, providing advanced charting tools, automated trading options, and a robust user interface ideal for all levels of traders.

Funding Options Comparison

Here’s a detailed comparison of the OANDA Prop Trader funding plans:

Pros and Cons

Pros

• High profit splits up to 90%
• Access to large capital with minimal risk to personal funds
• Wide range of instruments and trading options
• Fee refund available on first payout
• Trusted and established platform (OANDA and MT5)

Cons

• Challenge fees may be high for larger funding levels
• Strict daily and total drawdown limits
• Crypto trading not supported
• Requires consistent performance to maintain funding

Frequently Asked Questions (FAQ)

What is OANDA Prop Trader?

OANDA Prop Trader is a proprietary trading program offering traders the chance to manage capital and earn a share of profits.

How much funding can I get?

Funding ranges from $5,000 up to $500,000 depending on your evaluation success and selected plan.

What is the profit split?

Profit splits range from 80% to 90%, depending on the plan.

Are there any trading restrictions?

Yes, traders must follow daily and total drawdown limits of 5% and 10% respectively.

Can beginners join the program?

Yes, OANDA Prop Trader is suitable for both beginners and experienced traders, as long as they can pass the evaluation phases.

Which platform is used?

The MetaTrader 5 (MT5) platform is used, offering advanced charting and automated trading tools.

Conclusion

The OANDA Prop Trader program is a solid choice for traders looking to scale their trading skills with significant funding. With high profit splits, multiple funding options, and access to diverse instruments, it provides an ideal platform for both novices and professional traders.

However, traders should carefully consider challenge fees, strict drawdown rules, and the evaluation process to ensure it aligns with their trading strategy and risk tolerance.

Ready to start your funded trading journey?

Start Your OANDA Prop Trader Journey