OANDA Unveils Prop Trading Program With A 75% Profit Share
OANDA Labs Trader provides funded accounts to skilled traders who can earn a 75% share in profits.
Key Takeaways
- There are 5 routes to funding, known as Challenges, with each consisting of 2 Phases.
- You need to hit a profit target of 10% in Phase 1 and 5% in Phase 2, amongst other objectives.
- You can participate for a minimum fee of $249 though a 20% discount is available to retake any Challenge.
- OANDA Labs Trader is available through OANDA’s Global Markets division, a company regulated in the British Virgin Islands.
How OANDA Labs Trader Works
Choose a challenge and prove you have the skills in a demo environment:
| Challenge | Virtual Funds | Fee |
|---|---|---|
| Titanium | $25,000 | $249 |
| Silver | $50,000 | $399 |
| Gold | $100,000 | $699 |
| Platinum | $250,000 | $1,200 |
| Black | $500,000 | $2,400 |
Regardless of which Challenge you select, you must reach a 10% profit target in Phase 1 and 5% in Phase 2.
Each Phase has a daily loss limit of 5% and a maximum drawdown of 10%. The maximum leverage available is 1:50.
The broker’s full range of tradable assets are supported, including CFDs, forex, commodities and indices.
You can trade on either the MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms, both of which are great for day trading strategies.
After passing a challenge, you will need to verify your ID and provide proof of address. Then you can open an account with OANDA Global Markets, which is where any profits will be distributed.
