OANDA Prop Trader
PROP FIRM OVERVIEW:
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Key Highlights:
- Backed by a Globally Renowned Broker
- No Consistency Rules After Evaluation
- Flexible Copy Trading Policy
- Challenge Duration: No Time Limit
pros summary:
Unmatched Brand Trust and Reliability
Clear Path to Scaling Profit Split to 90%
Permission to Use EAs and Scripts
Cons summary:
Strict News Trading Restrictions (4-Minute Window)
Daily Max Profit Rule During Evaluation
Relatively High Minimum Payout for Classic Accounts ($200)
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Firm Rules:
Key Trading Rules and Conditions
The following outlines the key trading rules for the OANDA Prop Trader program. Adhering to these guidelines is essential for all participants.
Expert Advisors (EAs)
The use of Expert Advisors (EAs), custom scripts, and indicators is generally permitted. However, any EA designed to engage in prohibited strategies, such as price or latency arbitrage, is strictly forbidden and will violate the terms and conditions.
News Trading Restrictions
Traders may not manually open or close trades within a 4-minute window (specifically, 2 minutes before and 2 minutes after) of a high-impact news release. Importantly, this restriction does not apply to pre-set Stop Loss or Take Profit orders that are triggered automatically during this period.
Copy Trading Policy
The copy trading rules are specific: You are not permitted to copy trades between multiple OANDA Prop Trader accounts. However, you are permitted to copy trades from your OANDA Prop Trader account to an external, non-OANDA account (e.g., a personal retail account).
Daily Max Profit (Consistency Rule)
A daily max profit rule is in effect only during the two evaluation phases to encourage consistent performance:
- Phase 1: The maximum profit for a single day is capped at 5%.
- Phase 2: The maximum daily profit limit is reduced to 2%.
This rule is completely removed once you are allocated a funded Prop Trading account.
30-Day Inactivity Rule
If an account shows no trading activity for 30 consecutive calendar days, it will be considered a hard breach. The account will be permanently closed and cannot be reinstated.
Minimum Trade Size
The minimum required trade size is 0.1 lots for Forex and Metals, and 1.0 lot for CFD indices.
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"For a quick comparison of these regulations with other firms, please see our main prop firm rules summary page."
Withdrawal Policy:
Payout and Profit Split Rules
The profit split and payout conditions vary depending on the program you choose. Here is a clear breakdown of the terms for each account type.
Classic Program Payouts
Traders on the Classic Program are entitled to a flat 80% profit split on all earnings. The minimum amount required to request a withdrawal for this account type is $200.
Boost Program Payouts
The Boost Program features a scaling profit share. Your first withdrawal is an 80% profit split, which then increases to a highly competitive 90% profit split for all subsequent payouts. The minimum payout for this program is 2% of your initial account balance.
Payout Frequency (All Programs)
For all account types, traders are eligible to request a payout every 14 days (bi-weekly), allowing for regular access to your earned profits.
Consistency Rules :
Understanding the Daily Max Profit Rule in Oanda Prop Trader:
To encourage consistent performance during the evaluation, a Daily Max Profit rule is applied exclusively to Phase 1 and Phase 2. This rule is removed once you become a funded trader, at which point there are no consistency requirements.
Daily Profit Limits During Evaluation
- Phase 1: The maximum profit for a single trading day cannot exceed 5% of the initial account balance.
- Phase 2: For this phase, the daily max profit limit is lowered to 2% of the initial account balance.
What Happens if the Limit is Reached?
If your account equity reaches the specified daily profit limit on any given day, all of your open positions will be closed automatically. Trading will then be disabled for the remainder of that day, and you can resume your activities on the following trading day.
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