OANDA Prop Trader Firm Review – What You Need to Know in 2025
Launched in 2023, OANDA Prop Trader is a proprietary trading program offered by OANDA, a globally recognized forex and CFD broker founded in 1996 and headquartered in New York, USA. It provides funded accounts from $25,000 to $500,000, scalable to $2 million, with profit splits up to 80%. Traders can trade forex, indices, commodities, metals, and cryptocurrencies on MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView platforms. Regulated by multiple authorities (e.g., CFTC, FCA, ASIC), OANDA Prop Trader emphasizes transparency, education, and trader support.
OANDA Prop Trader Best suited for:
- Beginners: Accessible evaluation with free educational resources and demo accounts.
- Experienced Traders: High capital access and competitive profit splits.
- Scalpers & Swing Traders: Flexible rules supporting news trading, scalping, and Expert Advisors (EAs).
Pros & Cons of OANDA Prop Trader
Pros
Competitive Profit Splits: Up to 80% based on performance.- Flexible Evaluation: One-phase or two-phase challenges with 8%-10% profit targets.
- Regulated Broker: Overseen by CFTC, FCA, ASIC, ensuring trust and reliability.
- No Time Limits: Trade without pressure in evaluation phases.
- Platform Variety: MT4, MT5, and TradingView with tight spreads.
- Educational Support: Free webinars, market analysis, and trading guides.
Cons
Only MetaTrader platforms available:- Weekend trading not available on most accounts:
- Payout timelines may vary based on verification speed:
How Does OANDA Prop Trader Work? (Step-by-Step Guide)
- Select Account & Challenge: Choose One-Phase or Two-Phase ($25,000-$500,000).
- Pass Evaluation: Achieve 10% profit (One-Phase) or 8% + 4% (Two-Phase) with risk limits.
- Get Funded: Trade a live account with real profit potential.
- Earn Profits: Receive 60%-80% profit splits, paid monthly via bank transfer or crypto.
OANDA Prop Trader Account Types & Funding Options
- Account Sizes: $25,000, $50,000, $100,000, $250,000, $500,000, scalable to $2 million. ? ? Funding Models: ? o One-Phase: 10% profit target, 8% max drawdown, 4% daily drawdown. o o Two-Phase: 8% profit in Phase 1, 4% in Phase 2. o ? Profit Splits: 60% default, up to 80% with consistent performance. ? ? Fees: $199-$999, non-refunded
- discounts available for repeat challenges.:
Profit Targets & Payouts
- Profit Targets: 10% (One-Phase) or 8% + 4% (Two-Phase).
- Payouts: Monthly via bank transfer or crypto, processed within 5 business days.
- Drawdown Limits: 8% overall, 4% daily, calculated on account balance.
- Comparison: OANDA’s 4% daily drawdown is stricter than The 5%ers (5%) but aligns with FTMO
- monthly payouts are slower than FundedNext’s bi-weekly.
Leverage & Trading Conditions
- Leverage: Up to 1:50 (forex), 1:20 (indices/crypto), 1:10 (metals/commodities).
- Lot Sizes: Flexible, with risk management enforced via drawdown limits.
Allowed & Restricted Trading Strategies
Allowed Trading Strategies
- Scalping
- swing trading
- news trading
- hedging
- Expert Advisors (EAs)
- copy trading within accounts.
Restricted Trading Strategies
- High-frequency trading (HFT)
- arbitrage
- latency trading
- reverse trading
- exploiting platform errors.
How Long Does It Take to Get Funded by OANDA Prop Trader?
- Challenge Duration: No time limit for evaluations.
- Evaluation Time: One-phase can take days
- two-phase may take 1-2 weeks.
- Trader Feedback: Fast funding for compliant traders, but some report delays in payout processing.
How Long Has OANDA Prop Trader Been Around?
Operating since 2023 as part of OANDA’s 28-year legacy, OANDA Prop Trader benefits from its parent company’s global reputation and regulatory compliance (CFTC, FCA, ASIC). It has funded thousands of traders, with consistent payouts and a 4.6/5 Trustpilot rating from 1,200+ reviews. Its established broker status sets it apart from newer prop firms.
Who Owns OANDA Prop Trader? (Founder & Company Background)
Parent Company: OANDA Corporation, founded by Dr. Michael Stumm and Dr. Richard Olsen. ? ? Headquarters: New York, USA, with offices in London, Sydney, and Singapore. ? ? Mission: Provide traders with transparent funding, premium tools, and education for success. ? ? Regulation: Regulated by CFTC, FCA, ASIC, and other authorities, prop program operates under OANDA’s oversight.
What Can You Trade with OANDA Prop Trader? (Supported Markets & Assets)
Markets: Forex (70+ pairs), indices, commodities, metals, cryptocurrencies. Assets: EUR/USD, S&P 500, gold, silver, BTC, ETH, XRP. Restrictions: Limited crypto offerings, no weekend crypto trading.
Does OANDA Prop Trader Offer Education & Trader Support? (Learning Resources & Coaching)
Resources: Webinars, trading guides, daily market analysis, and a demo account. Development: Focus on risk management and strategy development. Community: Active forums and social media (@oanda on X). Coaching: Free webinars and tutorials, no personalized coaching.
How Good is OANDA Prop Trader’s Customer Support? (Response Time & Availability)
Channels: Live chat, email, phone, social media. Response Time: Within minutes via live chat, 24/7 support. Availability: 24/5 for trading, 24/7 for account queries. Feedback: Highly rated for responsiveness, some complaints about payout processing times.
Is OANDA Prop Trader a Scam or a Legit Prop Firm?
OANDA Prop Trader is legitimate, backed by OANDA’s 28-year history and a global regulation. Transparent payouts and a regulated framework ensure credibility, though some traders note slower payout processing and stricter drawdown rules compared to competitors.
Alternatives to OANDA Prop Trader – How It Compares
- FTMO: Higher 90% split, stricter rules, no crypto. The 5%ers: Up to 100% split, no crypto, excludes US traders. FundedNext: More crypto options, 15% challenge profit share, less regulation.
Final Verdict – Should You Trade with OANDA Prop Trader?
OANDA Prop Trader is ideal for traders seeking a regulated, transparent prop trading experience with access to diverse markets and robust educational tools. Its one-phase and two-phase programs suit various skill levels, and scaling to $2 million is a strong incentive. However, moderate profit splits, stricter drawdown limits, and slower payouts may deter some. Research thoroughly before joining in 2025.
