Reviewed by PropFirm201 Research Team·At a Glance
OANDA Prop Trader Homepage
Pricing & Challenge Types
Classic Challenge (2-Step)
2 phases · 80% profit split · Scaling available
| Account Size | Price | Target P1 | Target P2 | Daily Loss | Max DD |
|---|---|---|---|---|---|
| $5,000 | $35 | 8% | 5% | 5% | 10% |
| $10,000 | $65 | 8% | 5% | 5% | 10% |
| $25,000 | $149 | 8% | 5% | 5% | 10% |
| $50,000 | $269 | 8% | 5% | 5% | 10% |
| $100,000 | $499 | 8% | 5% | 5% | 10% |
| $250,000 | $1099 | 8% | 5% | 5% | 10% |
| $500,000 | $2400 | 8% | 5% | 5% | 10% |
Boost Challenge (2-Step)
2 phases · 90% profit split · Scaling available
| Account Size | Price | Target P1 | Target P2 | Daily Loss | Max DD |
|---|---|---|---|---|---|
| $5,000 | $45 | 8% | 5% | 5% | 10% |
| $10,000 | $85 | 8% | 5% | 5% | 10% |
| $25,000 | $189 | 8% | 5% | 5% | 10% |
| $50,000 | $339 | 8% | 5% | 5% | 10% |
| $100,000 | $629 | 8% | 5% | 5% | 10% |
| $250,000 | $1399 | 8% | 5% | 5% | 10% |
| $500,000 | $2999 | 8% | 5% | 5% | 10% |
Pros & Cons
Pros
- Backed by OANDA, a globally regulated broker with 25+ years of history
- Account sizes up to $500,000 -- among the largest in the industry
- Very affordable entry starting at just $35
- Boost challenge offers static drawdown with 90% profit split
- Challenge fee refunded with first payout
Cons
- Only 2-step evaluation available (no 1-step or instant funding)
- MT5 only -- no cTrader or alternative platforms
- Minimum 5 trading days requirement
- Relatively new prop division launched in 2024
- Weekend holding not permitted
Trading Rules
About OANDA Prop Trader
OANDA Prop Trader (OPT) is the proprietary trading division of OANDA, one of the world's most established and regulated online brokers with over 25 years of market experience. Launched in 2024, OPT allows traders to access up to $500,000 in virtual funds through transparent two-phase challenges with fair rules and secure payouts.
The key advantage of OANDA Prop Trader is the trust and infrastructure that comes with the OANDA brand. OANDA is regulated by multiple financial authorities worldwide, and this regulatory backing provides a level of credibility that few prop firms can match. The firm offers two challenge tracks -- Classic and Boost -- giving traders the choice between trailing and static drawdown models.
How It Works
OANDA Prop Trader offers two challenge tracks, both using a 2-step evaluation:
Classic Challenge:
- Phase 1: Reach an 8% profit target with a 5% daily loss limit and 10% trailing drawdown. Minimum 5 trading days.
- Phase 2: Reach a 5% profit target with the same risk parameters.
- Funded Account: Trade with an 80% profit split.
Boost Challenge:
- Phase 1: Same profit targets as Classic but with a static drawdown instead of trailing.
- Phase 2: Same parameters as Phase 1 with a reduced 5% profit target.
- Funded Account: Trade with a 90% profit split.
Both challenges have no maximum time limits. The evaluation fee is refunded with the first payout.
Pricing & Plans
| Account Size | Classic Fee | Boost Fee |
|---|---|---|
| $5,000 | $35 | $45 |
| $10,000 | $65 | $85 |
| $25,000 | $149 | $189 |
| $50,000 | $269 | $339 |
| $100,000 | $499 | $629 |
| $250,000 | $1,099 | $1,399 |
| $500,000 | $2,400 | $2,999 |
All challenge fees are refundable upon first successful payout.
Rules & Restrictions
- Maximum Daily Loss: 5% of the account balance.
- Maximum Overall Loss: 10% (trailing for Classic, static for Boost).
- Minimum Trading Days: 5 days per phase.
- Maximum Trading Days: No time limit.
- News Trading: Allowed.
- Weekend Holding: Not allowed.
- Expert Advisors: Allowed.
- Scalping: Allowed.
- Hedging: Allowed.
- Copy Trading: Not allowed.
Payouts
- Frequency: Bi-weekly (every 14 days).
- Profit Split: 80% (Classic) or 90% (Boost).
- Methods: Bank transfer and cryptocurrency.
- Processing Time: 2-5 business days after approval.
- Challenge Fee Refund: Included with first payout.
Is OANDA Prop Trader Legit?
OANDA Prop Trader is one of the most credible prop firms in the market:
- Backed by OANDA, a broker with 25+ years of history and regulation by ASIC, FCA, IIROC, NFA, and more.
- 4.2/5 Trustpilot rating from approximately 400 reviews.
- Transparent rules with clear challenge parameters and no hidden conditions.
- Account sizes up to $500,000, among the largest offered by any prop firm.
- Launched in 2024, so the prop division is still relatively new despite the established parent company.
The OANDA brand provides unmatched credibility in the prop firm space, making this one of the safest choices for traders concerned about legitimacy.
FAQ
What is OANDA Prop Trader?
OANDA Prop Trader is the proprietary trading division of OANDA, offering funded accounts from $5,000 to $500,000 through a 2-step evaluation challenge on the MT5 platform.
How much does OANDA Prop Trader cost?
Challenge fees range from $35 for a $5,000 Classic account to $2,999 for a $500,000 Boost account. All fees are refundable with the first payout.
What is OANDA Prop Trader's profit split?
The Classic challenge offers an 80% profit split, while the Boost challenge offers 90%.
What is the difference between Classic and Boost?
Classic uses a trailing drawdown with an 80% profit split, while Boost uses a static drawdown with a 90% profit split. Boost fees are slightly higher.
Is OANDA Prop Trader available in the US?
Yes, OANDA Prop Trader is US-friendly and accepts traders from the United States.