OANDA Prop Trader is a prop firm launched in 2024 by the well-known global broker OANDA. This company offers traders the opportunity to trade with virtual funds in simulated accounts and, if they perform well, join a real profit-sharing program as signal providers. In this article, we’ll present a complete and 100 % transparent analysis of how it works, who it’s for, and whether it’s truly worth joining.
Quick Summary
- Company: OANDA Prop Trader (OANDA Assessments Limited)
- Industry: Forex and CFDs Prop Firm
- Available Virtual Capital: Up to $500,000
- Initial 100 % Profit Up To: $15,000 (then 90 %)
- Available Plans: 5K, 10K, 25K, 50K, 500K
- Highlights: 24/7 support, no hidden fees, robust platforms (MT5), fast payouts within 48 h
What is OANDA Prop Trader?
OANDA Prop Trader is a proprietary trading program created by a regulated broker with over 25 years in the financial market. The goal is to evaluate traders through a demo-account challenge. Those who pass the phases become “signal providers” and receive a simulated account to continue trading with profit-sharing.
Key Features
- Challenges starting at $35
- Up to 90 % profit share
- Virtual accounts ranging from $5,000 to $500,000
- No need to invest your own capital
- MT5 platform with up to 100 : 1 leverage
- Limited copy trading allowed
Overview of All Plans
OANDA Prop offers a variety of plans that suit both beginners and experienced traders. The entry-level 5K Challenge has an accessible $35 fee and offers an initial 80 % profit split. The 10K Challenge, with a $60 fee, also provides 80 %. The 25K Challenge is ideal for those seeking a bolder step, priced at $199 with the same profit percentage. For traders with a higher risk appetite, the 50K Challenge costs $299. Finally, for advanced traders, the 500K Challenge offers up to $500,000 in virtual capital, with the potential to earn up to 90 % in profits. Below is a detailed table comparing the plans, including the profit-to-drawdown ratio.
Plan Comparison Table
| Plan | Profit (%) | Drawdown (%) | Target (%) | Payout | Leverage | Profit / Drawdown |
|---|---|---|---|---|---|---|
| Classic | Up to 90 % | 10 % Max (Static) | 8 % / 5 % | Monthly | Up to 1 : 50 | 0.80 |
| Boost | Up to 90 % | 5 % Daily / 10 % Total | 10 % / 5 % | Monthly | Up to 1 : 50 | 1.00 |
Pros and Cons of the OANDA Prop Trader
Pros:
- Globally recognized brand with over 25 years of experience
- Regulated in multiple jurisdictions, offering greater legal security
- High capital limits, with plans reaching up to $500,000 in virtual funds
- Profit share of up to 90 %
- Robust platform (MetaTrader 5) with fast execution and competitive spreads
- 24/7 customer support
- Simple, fully online sign-up process
- Discounted retest available for failed challenges
- Transparent rules and terms available upfront
Cons:
- Strict rules on economic news, with specific time restrictions
- Two-phase challenge requiring consistency, which may tire beginners
- No live-account trading, potentially limiting practical experience
- Automated evaluation system can misinterpret some strategies
- Lack of Portuguese support may hinder access for some traders
Copy Trading
Copy trading is partially allowed, meaning you can replicate strategies from a master account (e.g., your own strategies). However, copying signals from external accounts or other OANDA Prop Trader accounts is not allowed, limiting the use of traditional copy solutions. These restrictions aim to ensure control and integrity of trading operations.
Hidden Rules
Expert Advisors (EAs): Use of EAs, scripts, and indicators is allowed. However, EAs that exploit price arbitrage or latency, or that use prohibited behaviors, are strictly forbidden as outlined in the Terms and Conditions.
- News: You may not open or close trades within a 4-minute window (2 minutes before and after major economic news releases), except for pre-set stop-loss and take-profit orders.
- Max Daily Profit (Consistency Rule): During the “Boost & Classic” evaluation phases, Phase 1 allows a max daily profit of 5 %, Phase 2 allows 2 %. After passing, this rule no longer applies.
- Inactivity: 30 consecutive days without any trading will result in permanent closure of the challenge account.
Payment Methods
- Credit or debit card
- Google Pay
- Options vary by region
Comparison with Other Prop Firms
| Prop Firm | Profit (%) | Max Capital | Evaluation | Payouts | Support |
|---|---|---|---|---|---|
| OANDA Prop | Up to 90 % | Up to $500,000 | Classic, Boost | Monthly | Help Center, Email |
| Blueberry Funded | Up to 90 % | Up to $2,000,000 | 1 Step, 2 Step, Rapid, Stock | Bi-weekly | Chat, Email, Help Center |
| FTMO | Up to 90 % | Up to $400,000 | Two steps: FTMO Challenge and Verification | Monthly | 24/7 via Chat, Whatsapp, Email |
Who Is It For?
OANDA Prop Trader can suit different trader profiles. Beginners can find an affordable way to test their skills without risking real capital, using a demo account with clear rules and financially viable challenges. Intermediate traders will benefit from the regulated environment, ongoing support, and phased structure, which foster steady growth and development of skills like emotional control and risk management. Advanced traders can take advantage of the high virtual-capital limits and the opportunity to earn up to 90 % in profits, provided they adapt their strategies to the firm’s specific rules.
OANDA Prop can be an excellent choice for traders who value institutional safety, clear structure, and real profitability opportunities, but each trader should assess whether the firm aligns with their style and goals.
Final Verdict
We thoroughly analyzed every aspect of OANDA Prop Trader. It offers a solid, structured product backed by a respected international brand. The plan variety, clear evaluation process, and security policies show a commitment to integrity. However, strict rules on news, daily-profit consistency, and inactivity demand discipline and adaptability.
If you value security, regulation, and clear processes, OANDA Prop could be a great fit. Those seeking more strategic freedom may prefer firms with fewer restrictions.
