OneUp Trader is a proprietary trading firm headquartered in Wilmington Delaware, the prop trading company is offering funded trading accounts. Prop companies look for talented traders and pairs them with reputable funding partners if they successfully pass their evaluation. Traders must trade with specific rules and hit the profit target with a for a minimum of 15 trading days. For a fee, traders can receive a funded trading account with a value of up to $250,000.
Here is how it works:
- You choose a funded trading evaluation account that is right for you.
- You stick to the rules and trade a minimum of 15 days.
- OneUp Trader reviews your account within 2-3 days.
- The prop trading firm send you a contract and login information for your newly funded trading account.
- You start trading risk free as a funded trader.
The process is as follows:
- Choose the evaluation account of your choice ($25,000 to $250,000).
- Complete the 1-step evaluation in 15 trading days minimum.
- Receive funding from a OneUp Trader.
If you’d like to try the OneUp Trader before you commit to anything, you can start a 7-day free trial. OneUp Trader offers a Free Trial where you get access to a $100,000 practice account and can test out all the features the firm has to offer.
The rules get funded with OneUp Trader include the following.
- Trade only allowed instruments during permitted times.
- Do not let your account balance touch or go beyond the Trailing Drawdown.
- Follow the Dynamic Scaling Targets.
- All trading positions must be closed prior to and during major economic releases.
- You must maintain a minimum weekly total trade executions of no less than 50% of the average number of trades successfully completed on the evaluation. The trading volume is calculated on a weekly basis at the end of each trading week. Average weekly trading volume execution calculations do not include CME holidays and will be prorated for those weeks. You must notify and request account hold approval from the company for extended inactivity requests.
- You must have a positive net PNL greater than the initial starting balance at the end of the 15 calendar days and in subsequent 15 calendar day intervals – Rule only applies during the initial 90-day probationary period, starting from the first trading day of the account. Discretionary warnings will be issued if the account balance is below the initial starting balance.
The number of contracts you can hold differs depending on the size of the account, same for the maximum loss, profit targets and drawdown amounts. If you violate the rules, it will result in funded trading account termination, though OneUp will give you one chance to correct the problem.
If you break the rules a second time, you will have to pass the evaluation test again to reopen your funded trading account. The cost to reset the account is $100. There are no limits as to the number of times you can reset your funded trading account
OneUp Trader provides a social network where users can share notes and advice. It also provides market news, live economic indicators, and a wide range of trade analysis tools. You can use the Ninja Trading platform for free. Once you pass the evaluation, you can use one of 20 trading platforms for trading and analysis, though you will need to pay to use the platform.
Before you can start trading, you will have to pass an evaluation test which is a 1-step evaluation, most of other prop trading firms have a 2-step evaluation which makes the process of getting funded much longer. You have 15 calendar days to prove your trading skills on the online assessment. If you pass the 1-step evaluation, you will have to complete a questionnaire and sign a contract before receiving funds from the firm.
OneUp Trader offers a range of funded trading account sizes, each one of them comes with a monthly subscription fee that pays for the costs of maintaining and funding the account.
The account sizes vary from $25,000 to $250,000, with subscription fees ranging from $125 per month for a $25,000 account to $650 per month for a $250,000 account.
The monthly subscription fees cover the costs of getting access to a funded trading account, proprietary trading software, advanced analytics, trading statistics tools and risk management tools. In addition to the subscription fee, traders must also pay a profit split of 10% on any profits they make while trading. In other words, traders receive a generous 90% profit split.
The profit split is the highest in the proprietary trading space, ensuring that the trader and the firm benefit from successful trading. Additionally, funded traders keep 100% of their first $10,000 profits.
Below is the breakdown of this platform’s funded accounts monthly fee:
- $25,000 Account: $125 monthly
- $50,000 Account: $150 monthly
- $100,000 Account: $300 monthly
- $150,000 Account: $350 monthly
- $250,000 Account: $650 monthly
- Dynamic Account Analytics with visuals (risk management tool, advanced analytics, trading statistics tools).
- Customizable evaluation process.
- Capital allocation.
- 7-day Free Trial.
- Keep 100% of the first $10,000 profit.
- High payout ratio: 90% Profit Split.
- 24/7 Customer Support (Phone, Live Chat, Email).
- Limited trading instruction.
- High evaluation fees
- Only 7-days of Free Trial
Trading with a OneUp Trader funded account offers many benefits that can help you boost your trading career. With access to advanced analytics, educational resources, and a community of traders, you can trade with a significant amount of capital without risking your own and get the support you need to become successful funded trader.
However, you must consider the risks involved in using a funded trading account. You could lose access to your funding account if you don’t meet your profit goals or exceed the trailing drawdown, which can get costly as you will have to reset your account and pay another fee.
While OneUp Trader strives to simplify becoming a leader in the prop trading space, it’s best suited for experienced traders who are comfortable with the risk management. Futures trading contains substantial risk and is not for every investor.
But no worries. OneUp Trader is a legit prop trading company with a strong track record with high ratings on TrustPilot.