|
CEO |
Country |
Trust Pilot |
Date of creation |
Years |
|
Gavin Bambury |
🇲🇹 Malta |
4.3 / 5 |
January 2024 |
1 year |
OANDA Challenge Account Package
Details of the OANDA Prop Trader funding company
In an increasingly competitive global environment for retail trading, OANDA stands out as a solid option for traders looking for a regulated, transparent platform backed by decades of experience in the foreign exchange market.
From its beginnings as a currency data provider to its evolution as an international broker, OANDA has built its reputation on its technological infrastructure, regulatory compliance, and specialized instruments.
In this review, we examine its trading conditions, commission structure, user experience, and areas for improvement to help you determine whether it can meet your needs as a demanding trader.
OANDA Company Overview
Broker:
Platforms:
OANDA payment methods
Payment methods when purchasing:
Methods of withdrawal:
Instruments and assets
Instruments:
Assets
Leverage by account type
|
Assets |
1-Step |
2-Steps |
3-Steps |
Instant |
|
Forex |
n/a | |||
|
Metals |
n/a | |||
|
Indices |
n/a | |||
|
Energy |
n/a | |||
|
Others |
n/a |
Commissions
💹 Forex
$7 per lot «round trip»
📊 Indices
No commissions
💰 Others
No commissions
⛏️ Metals
$7 per lot «round trip»
⚡ Energy
No commissions
🔹 Round trip means that those $7 already include the entry + exit of the trade (it is not per side).
🔹 For indices, energy, and commodities, they do not charge commission, only spread.
📊 Consistency Rules
| Rule | Phase 1 | Phase 2 | Phase 3 / Funded |
|---|---|---|---|
| Daily Max Profit | 5% of the balance | 2% of the balance | n/a (not applicable) |
| Application | All positions are closed upon reaching the limit, and trading is disabled until the next day | Same as Phase 1 | No consistency rules |
- 📌 Summary:
- Only applies in Phase 1 (5%) and Phase 2 (2%).
- Once funded, there are no consistency rules or daily profit limits.
📑 Rules for trading OANDA Prop Trader accounts
Below are the main rules that all traders must comply with when trading within the OANDA Prop Trader program. These rules ensure a fair and transparent trading environment that is in line with the firm’s risk policies.
📈 Maximum Position Size
Traders may use Expert Advisors EAs, scripts, and indicators to optimize their strategies. However, copy trading is not permitted within the program. In addition, the use of EAs that employ price arbitrage, latency arbitrage, or any other trading practice considered manipulative or unfair is strictly prohibited.
📰 News Trading
Opening or closing trades within a four-minute period around major news events—i.e., two minutes before and two minutes after their publication—is not permitted. Stop-loss and take-profit orders that are automatically triggered during that interval are exempt from this restriction.
🔄 Copy Trading on Oanda
Copy trading is not permitted between multiple accounts or within the OANDA Prop Trader program. However, traders can copy their trades to external or third-party accounts outside the OANDA platform.
💰 Maximum Daily Profit Consistency Rule
This rule applies during both phases of the Boost and Classic challenges:
- Phase 1: Maximum daily profit limit of 5%.
- Phase 2: Maximum daily profit limit of 2%.
Once the trader obtains a funded account, this rule no longer applies.
📋 Inactivity Rule
If an account remains inactive for 30 consecutive days without any trades, it will be considered a serious breach. In such a case, the challenge account will be permanently closed.
💰 Payment Policy – OANDA Prop Trader
OANDA Prop Trader’s payment policy is designed to offer traders a fair, transparent, and scalable reward model. Below are the key conditions related to profit distribution, minimum amounts required, and payment frequency.
⚡ Profit Split
- Classic Program: Traders receive 80% of the profits earned.
- Boost Program: The first payment grants an 80% share, increasing to 90% in subsequent payments as a reward for sustained performance.
🏦 Minimum Payment
- Classic Accounts: The minimum payment allowed is $200 USD.
- Boost Accounts: the minimum payment is 2% of the initial account balance.
📆 Payment Frequency
Payments are processed every 14 days, providing traders with a regular and predictable frequency for receiving their profits.
🌍 Restricted Countries
For regulatory and compliance reasons, some countries have restrictions on participating in OANDA Prop Trader programs.
- 🇺🇸 United States
- 🇰🇵 North Korea
- 🇷🇺 Russia
- 🇮🇷 Iran
- 🇮🇶 Iraq
- 🇸🇾 Syria
- 🇻🇪 Venezuela
- 🇦🇫 Afghanistan
- 🇲🇲 Myanmar
- 🇸🇸 South Sudan
- 🇵🇰 Pakistan
- 🇳🇬 Nigeria
- 🇵🇸 Occupied Palestinian Territory