Calling Prop Traders: OANDA Improves Funded Trading Conditions

OANDA Labs Prop Trader, part of OANDA, has enhanced its funded trading accounts, offering profit shares of 80% with less stringent challenge conditions, meaning traders could get funded within 3 days.

OANDA is one of the few trusted brokers to offer prop trading services, though it’s important to note only skilled traders will get funded.

Key Takeaways

• The profit target in the first challenge phase is 8%.
• There is no minimum number of days to qualify.
• Onboarded traders can earn an 80% profit split.
• Up to 1:100 leverage is available on MT4 and MT5.

What Is OANDA Labs Prop Trader?

OANDA Labs Prop Trader offers funded trading accounts to high-performing traders, enabling them to earn a share of any profits.

Interested traders can choose from 8 challenges with virtual balances of $10,000 to $500,000, and entrance fees of $169 to $2,400.

Regardless of the challenge selected, traders will need to reach a profit target of 8% in Phase 1 and 5% in Phase 2. The daily loss limit is 5% and the maximum drawdown is 10% across both challenge phases.

Successful prop traders onboarded onto the program will get their profit share, along with a refund on their challenge fees, in their first payout.

Also in the pipework for the prop trading firm is a fresh array of challenges, catering to diverse trading strategies and risk appetites.

About OANDA

OANDA Labs Prop Trader is part of the OANDA Group. Established in 1996, it’s a trusted brokerage offering multi-asset trading, alongside a suite of currency data and analytics services.

OANDA operates through various regulated entities around the world, including in the US, UK, Australia and Singapore.

That said, OANDA Labs Prop Trader is part of OANDA’s Global Markets, which is regulated offshore by the Financial Services Commission of the British Virgin Islands.

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Review

OANDA is an award-winning global broker, established in 1996. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. It remains a popular option with both beginners and experienced traders thanks to its user-friendly and sophisticated web platform, no minimum deposit and premium currency products and services. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO.