10% discount on the new 10k Challenge. prop trading challenge fees with OANDA Labs, valid until May 31, 2024
Use discount Code: 8FEET10K
The OANDA Prop Trading Program allows traders to access capital provided by OANDA to trade in the financial markets. Here’s how it typically works:
- Application Process: Traders apply to participate in the OANDA Prop Trading Program. Applicants must meet certain eligibility criteria, including age and residency requirements.
- Challenge Phase: Approved applicants undergo a Challenge phase, where they trade with a demo account following specific rules and objectives. The Challenge phase usually consists of two stages and assesses traders’ ability to generate profits and manage risk effectively.
- Verification: Successful completion of the Challenge phase leads to a verification process. Traders must provide identification documents and undergo verification checks to confirm their identity.
- Trading Account Setup: Upon verification, traders open a trading account with OANDA Global Markets. This account serves as the platform for executing trades using OANDA’s proprietary trading models and technology.
- Trading Activity: Traders engage in trading activities using the provided capital. They have access to OANDA’s technology and market relationships to help them make informed trading decisions.
- Profit Sharing: Traders are entitled to a share of the profits they generate, typically up to 75%. This profit-sharing arrangement incentivizes traders to trade profitably and manage risk effectively.
- Compliance and Performance: Traders must comply with program rules and performance requirements to continue participating in the program. This may include adhering to risk management protocols and meeting specific performance targets.
Learn more about Prop Trading here.
