Oanda Prop Trader prop firm offers funded accounts and was initially called Labtester Oanda. The firm is related to a regulated Forex and CFDs broker, Oanda, and all its trading services are backed by the same broker. While this is a positive sign, the firm lacks experience and trader reviews, which indicate it still has a long way to go before we can suggest it to our readers. The funding range is between 10k to 500k USD which is a decent amount, but the fees are expensive starting from 169 USD.
In today’s Oanda Prop Trader review, we are going to assess the firm’s safety, rules, funding options, assets, payouts, support, and more.
Pros & cons of Oanda Prop Trader prop firm
Pros
- Ability to withdraw with $0 fees
- Offers access to MetaTrader 4, MetaTrader 5
- Fast and digital account opening/verification
- Most payment options are free and instant
- High maximum drawdown of 10%
Cons
- Strict daily risk limit of 5%
- The firm lacks proper safety because of poor experience and trader reviews
- Only offers a handful of assets for trading (FX, indices, commodities)
- Lacks educational resources
- Lacks hotline support
- Fees are expensive for funded programs
Quick rating of Oanda Prop Trader and its features
| FPA Score | Not yet rated |
| Year founded | 2024 |
| Headquarters | Malta |
| Minimum audition fee | 169 USD |
| Fees on withdrawals | 0 USD |
| Minimum funded amount | 10,000 USD |
| Maximum funded amount | 500,000 USD |
| Allowed daily loss | 5% |
| Profit target | 8% |
| Maximum trailing drawdown | 10% |
| Profit sharing (Payouts) | 90% |
| Trading Platforms | MetaTrader 4 and MetaTrader 5 |
| Available trading markets | Forex, indices, commodities, metals |
Safety of Oanda Prop Trader — 1.5
Labtester Oanda reviews are lacking on both the FPA and Trustpilot, indicating the firm’s poor online coverage. There are almost no trader reviews of the funded programs offered by the Oanda Prop Trader firm, which is always a red flag. The firm is also very young having launched in 2024 and lacks experience in the prop trading industry; its parent company is a popular broker, Oanda. Oanda is a regulated Forex and CFDs broker and all trading activities of Oanda prop trader firm are backed by this broker.
The firm gets a 1.5 score in this section for only having a regulated broker backing its trading services.
Oanda Prop Trader Funding and Maximum Capital Allocation — 3
Oanda Prop Trader funded programs are diverse and offer funding ranging from 10k to 500k US dollars. The exact funding amounts include a 10k challenge, titanium 25k challenge, silver 50k challenge, gold 100k challenge, lucky 888k challenge, platinum 250k challenge, and black 500k USD challenge. There is no lower funding option for beginners, which is a downside.
Oanda Prop Trader funding while different in name has mostly similar profit sharing and the rules are exactly the same for all accounts. The Lucky Challenge has a different funding amount of 188k and also 88% profit-sharing. We could not determine the idea behind this account as its fee is also high at 888 USD.
Oanda Prop Trader’s challenges overall are not very beginner-friendly but still offer a decent range of funding.
Oanda Prop Trader scaling plan is not active as the firm offers up to 500k accounts. Despite the high funding ceiling, the absence of a proper scaling plan is still a downside for the prop firm.
Overall, Oanda Prop Trader receives a 3 score in this section.
Oanda Prop Trader Assets — 1.5
Oanda Prop Trader prop trading assets are limited and only include Forex pairs, indices, and commodities. While there are advanced platforms offered, with these few trading instruments many traders won’t be able to find their favorite assets, which is a huge drawback for the Oanda Prop Trader firm.
The spreads are also not low, and the leverage is 1:100. Overall, the firm gets a 1.5 score in this section for offering a very limited number of instruments.
Oanda Prop Trader Trading rules and limitations — 1
Oanda Prop Trader rules are the same for all funded accounts, including a 5% daily risk limit, 10% maximum trailing drawdown, and 8% profit target. Hedging and automated trading are both allowed.
The firm gets a 1 score in this section for offering a 10% drawdown and allowing news trading.
Oanda Prop Trader Fees — 1.5
The firm has expensive fees when compared to other prop firms. Here is the list of fees for each funded account:
- Funded amount: 10k USD — one-time fee: 169 USD
- 25,000 USD — 249 USD
- 50,000 USD — 399 USD
- 100,000 USD — 699 USD
- 188 USD — 888 USD
- 250,000 USD — 1,200 USD
- 500,000 USD — 2,400 USD
With these fees, the firm is not beginner-friendly and traders have to invest considerably to access all these accounts.
Oanda Prop Trader free trial is not available at the moment which is a downside and neither is Oanda Prop Trader free repeat possible.
The firm receives a 1.5 score in this section for offering expensive fees for all of its funded accounts.
Oanda Prop Trader Platforms — 2.4
Oanda prop firm offers advanced platforms MT4 and MT5. These platforms are feature-rich and offer automated trading capabilities and custom indicators support. For offering these platforms, the firm gets a 2.4 score.
Oanda Prop Trader Profit-Sharing — 3
Oanda Prop Trader profit split is capped at 90% for all accounts except the lucky challenge, which has an 88% profit-sharing. The withdrawals are processed within 1-3 business days.
The firm gets a 3 score in this section for offering up to 90% payouts.
Education and trading tools at Oanda Prop Trader — 0
Oanda Prop Trader lacks educational resources. There are no webinars, video tutorials, or trading courses available on their website, which is a downside for novices. The firm seems to be targeting seasoned traders and does not offer anything educational. As a result, the firm gets a 0 score in this section.
Customer Support at Oanda Prop Trader — 2.4
Oanda prop firm offers only email and live chat support options. There is no hotline support option offered, which is a red flag. Both the website and support are also limited in multilingual components, as there are only two languages. For offering a mediocre support experience, Oanda Prop Trader firm gets a 2.4 score in this section.
Frequently Asked Questions on Oanda Prop Trader
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