Should you trust the OFP Funding prop trading firm?

OFP Funding is an instant funding prop trading firm that was launched in the United Kingdom in 2021 and offers funded accounts with buying power up to $200,000, which can be scaled to as much as the equivalent of GBP 5 million.

Furthermore, the firm offers a dynamic pricing model, which means that the user chooses the drawdown, profit target and profit share terms and their choices determine the price of the funded account.

However, while this may sound enticing, there are some security concerns regarding the firm, as well as a lack of many reputable reviews on the internet.

For this reason, we have compiled a review of the features, trading platforms, available instruments, fees and other important aspects of OFP Funding, which you can use to decide if the firm is the right choice for you.

Pros and cons of Funds for Traders prop firm

Pros

Dynamic account fee structure

GBP 5 million maximum funding through scaling

Fast payout processing

Instant funding prop firm

IC Markets broker partner

MT4 and MT5 available

Cons

Expert Advisors are not allowed

Maximum 80% profit share

Does not have a free trial

Founded in 2021

No evaluation stages

Safety of OFP Funding – 3

Most prop trading firms available on the global market do not have a very long track record of operations, which can be a cause for concern for some prospective traders.

Furthermore, the unregulated nature of prop trading also makes certain traders cautious about engaging with such firms.

When it comes to OFP Funding, the firm was launched in 2021, which means that the firm has been around for a decent amount of time for traders to have accumulated some experience dealing with them.

Furthermore, the firm partners with IC Markets, which is a licensed and regulated forex brokerage firm.

It must be noted that the Forex Peace Army, which is the most reputable review website for forex brokerages and prop firms, does not have a page dedicated to OFP Funding, while the firm maintains a Trustpilot score of 4 out of 5, based on over 1,500 ratings, which is a decent sample size.

OFP Funding capital allocation and maximum funding – 3

OFP Funding is an instant funding prop firm, which means that it does not come with evaluation steps and clients can directly purchase funded accounts between $5,000 and $200,000 in buying power.

The $200,000 account can be scaled up after successful payouts, up to a maximum funding level equivalent to GBP 5 million, which is one of the highest funding ceilings on the market.

However, it is also worth noting that due to instant funding, the risk of failure is relatively high for traders, while profit splits are lower.

OFP Funding assets – 3.5

Prop trading firms typically offer a mix of forex and CFDs, as well as other asset classes to their clients and OFP Funding is no different in this regard.

The firm is partnered with IC Markets, which is a regulated forex brokerage and offers major and minor currency pairs, energies, metals and indices.

The spreads and trading fees for each asset class are considerably different. However, IC Markets is known for its tight spreads, with the spread for the EUR/USD pair starting from 0 pips.

The abundance of tradable instruments gives OFP Funding clients plenty of room to experiment with different strategies and adapt to a constantly changing market.

OFP Funding rules and limitations – 3.7

When it comes to the rules and limitations that are common features of prop trading challenges, OFP Funding offers a different approach. The firm focuses on instant funding, which means that there are no challenge steps.

However, what the firm does offer is a customizable structure, which means that traders can choose their profit shares, profit targets and drawdown limits, which then determines the price of their accounts.

For example, we can look at the different possible terms available at OFP Funding, based on the different features chosen by clients:

• Profit share – the profit shares offered by OFP Funding are divided into four tiers – 26%, 40%, 60% and 80%. The higher the profit share, the higher the account fees
• Daily drawdown – the available daily drawdowns are 3%, 4% and 5%. The higher the limit, the higher the price of the challenge
• Maximum drawdown limit – the maximum drawdown limit is twice as much as the daily limit. For example, if the client chooses a daily drawdown of 4%, their maximum drawdown limit will be 8%
• Profit target – since OFP Funding offers instant funding, there are no profit targets and traders can withdraw their profits within 7 hours

As we can see, the rules offered by OFP Funding are a bit unconventional. This is due to the fact that the firm focuses on instant funding and does not have multiple-step funding challenges.

This flexibility gives traders more freedom to structure their challenges and manage the fees that they pay on the platform as well.

OFP Funding fees – 4

As we have already mentioned in the previous section, OFP Funding offers a dynamic pricing model, which means that the prices charged for a funded account are dependent on the trading terms and limits the client chooses.

For example, if the client were to choose the $5,000 account, with a drawdown of 3% and a 26% profit split, this would only cost them $18.25, as these are the least favorable terms for the trader and the lowest funding level available on the platform.

Conversely, if the trader were to choose the best terms for them – a $200,000 account with a 5% drawdown and 80% profit share, the fee would jump to $1,998, which is the highest possible price of an account at OFP Funding.

It is also worth noting that the $200,000 funded account is on sale at a 40% discount and such promotions are not rare at OFP Funding.

Furthermore, we have also mentioned the trading spreads, which are very tight at IC Markets, the partner broker of OFP Funding. This , coupled with the customizable pricing model offered by the firm, makes it highly favorable in the category of fees.

OFP Funding platforms – 3.5

Thanks to a partnership with IC Markets, OFP Funding clients have access to MetaTrader 4 and MetaTrader 5 – two of the most popular forex trading platforms in the world.

MetaTrader platforms come with a wide range of technical indicators, such as the RSI, Stochastics, the MACD, Bollinger Bands and many others that traders can use to analyze the market and make informed decisions to successfully continue their journey on their funded accounts.

However, it must be noted that the official OFP Funding website does not mention a mobile app, which may be an issue for traders that would like to use the platform on the go.

OFP Funding profit-sharing – 3

The profit-sharing agreement is one of the most important features of a prop trading program, as it determines how much of their profits traders are able to withdraw from their accounts.

Due to the customizable structure of OFP Funding challenges, the firm has four different profit split agreements traders can claim – 26%, 40%, 60% and 80%.

Depending on the profit split, the price of the funded account also increases with the share of the profits.

The increased prices may be an issue for more cost-conscious traders, but such a profit sharing structure allows clients to manage their costs at OFP Funding.

Education and trading tools at OFP Funding – 0.8

Educational content, such as webinars, trading courses, blogs and more, are frequent features found at prop trading websites. They explain the process of prop trading to beginners, as well as what to expect from a particular funding challenge and how the various terms and features work.

When it comes to educational materials, OFP Funding may not be the best choice. While the firm does explain its terms and conditions, as well as features, it does not provide general knowledge to users that may have no prior experience with prop trading – or trading in general.

While IC Markets and MetaTrader are well-equipped with all the necessary technical features, the firm does very little in terms of providing original educational content to clients.

Customer support at OFP Funding –

The customer support suite available at OFP Funding is relatively comprehensive and only lacks an official hotline.

Users who visit the website can use the live chat function or the inquiry form. Alternatively, the official support email is also listed in the ‘Contact Us’ section of the menu, under the ‘Company’ header.

The website also features a FAQ section, which explains some basic information and terms provided by the firm, while answering common questions from new clients.

FAQ on OFP Funding prop firm