OneUp Trader: Reviews And Analysis
OneUp Trader provides a professional and transparent platform for traders seeking futures trading funding support. The company offers a reliable choice for global traders through its diverse account size options and strict trading rules.
OneUp Trader is a futures funding trading firm based in Delaware, USA, founded in 2017, specializing in providing funded accounts for traders and supports trading in various futures products including equity futures, foreign exchange futures, agricultural futures, energy futures, interest rate futures, and metals futures.
Key Features
- Trading Instruments: Supports a wide range of futures including equity, forex, agricultural, energy, interest rates, and metals futures.
- Funded Accounts: Account sizes range up to $250,000.
- Profit Split: Traders receive 100% profit up to the first $10,000, then 90% thereafter.
- Cost: Evaluation starts from $125 per month.
- Trading Platforms: Offers multiple futures trading platforms including NinjaTrader, R | Trader, Agena Trader, and more.
Pros and Cons
Pros
- Wide capital support: Offers funded accounts up to $250,000, catering to various trader scales.
- Profit sharing advantage: Traders can initially receive 100% profit sharing up to $10,000, adjusting to 90% thereafter, which helps traders earn more.
- Diverse trading instruments: Supports various futures products suitable for different trading strategies.
- Multi-platform support: Offers a selection of futures trading platforms, allowing traders to choose according to personal preference and needs.
- Transparent evaluation process: Clear evaluation rules and targets such as minimum trading days and profit requirements help traders understand the specific conditions for entering funded accounts.
Cons
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High Entry Fees: The initial fee starts at $125 per month, which may present a significant financial barrier for some novice traders.
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Strict Trading Rules: Prohibits the use of certain high-frequency trading strategies such as scalping and high-frequency trading, which may limit trading strategy choices for some traders.
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Restrictive Trading Times and Strategies: Requires closing positions before specific daily times and prohibits weekend holding, which may restrict traders who prefer long-term positions or weekend trading.
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No Free Retries: Despite offering a 7-day free trial period, there are no free retry opportunities if rules are violated. Traders must bear the cost of resetting their options.
Account Sizes
OneUp Trader offers five different account sizes, with balances ranging from $25,000 to $250,000. Evaluation fees vary from $125 per month for smaller accounts to $650 per month for larger accounts.
Leverage and Profit Split
OneUp Trader does not offer leverage; the trading account balance equals purchasing power, meaning the leverage ratio is 1:1. Your trading limits are defined by the maximum number of contracts you can trade, starting from 3 contracts for a $25,000 account to 25 contracts for a $250,000 account.
Regarding profit split, OneUp Trader shares profits with traders. For profits up to $10,000, traders receive 100% profit split. Afterward, the profit split adjusts to 90/10, where you receive 90% of all profits, and the company retains 10% as a management fee.
Evaluation Rules
OneUp Trader's evaluation rules and objectives are straightforward, with only one challenge type. Here's a summary of requirements needed through the evaluation process:
- Minimum trading days: 15 trading days (excluding holidays and weekends).
- Challenge duration: No limit on the longest trading time; you are free to choose trading times.
- Profit target: 6%.
- Tracking maximum drawdown: Starting from 6% for smaller accounts to 2.2% for larger accounts.
- Daily loss limit: No limit.
Rules for Each Account:
|
AccountBalance |
Number ofContracts |
ProfitTarget |
Tracking MaximumDrawdown |
|---|---|---|---|
| $25,000 | 3 | $1,500 | $1,500 |
| $50,000 | 6 | $3,000 | $2,500 |
| $100,000 | 12 | $6,000 | $3,500 |
| $150,000 | 15 | $9,000 | $5,000 |
| $250,000 | 25 | $15,000 | $5,500 |
Unlike other companies that typically have a two-step evaluation process, OneUp Trader has a single-step evaluation process.
Considerations
- OneUp Trader does not prohibit the use of algorithms or robots for trading. It explicitly states that certain types of strategies (typically executed by robots) are not allowed, including scalping, high-frequency trading, latency arbitrage, and tick scalping.
- Currently, the company offers a 7-day free trial period for traders. There is no policy for free retries, but if rules are violated, a reset can be done at the trader's expense.
- All accounts provide free real-time data and a free NinjaTrader license key. Additionally, OneUp Trader supports popular futures trading platforms including NinjaTrader, R | Trader, R | Trader Pro, Agena Trader, Inside Edge Trader, and others.
- Position holding after market close is not allowed. All positions must be closed by 3:15 PM Central Time or product market close time. Weekend holding of trading positions is also not allowed. OneUp Trader has strict regulations on news trading: no positions can be held from one minute before news release to one minute after.
In conclusion, OneUp Trader offers a reliable funded platform for futures traders with advantages such as high capital support, generous profit sharing, and multiple platform choices. However, high entry fees and strict trading rules may pose challenges for some traders. When choosing OneUp Trader, traders should weigh their personal trading needs and capabilities to maximize the advantages it offers.
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