OneFunded: Information and detailed review

Corporate and Operational Framework

OneFunded is a proprietary trading firm headquartered in London, United Kingdom, specifically located at 71-75 Shelton Street, Covent Garden. The firm is led by CEO Anastasiia Kaplunenko. Established with a focus on the forex and CFD markets, the company operates under a model that provides traders with access to simulated capital across various asset classes.

The firm's operational structure is characterized by a high degree of transparency regarding its leadership and physical location, which is a significant factor in the prop trading industry. It provides a technical environment supported by multiple trading platforms and a range of account types designed to cater to different trading styles, including One-Step, Two-Step, and Instant Funding models.

Technical Infrastructure and Trading Environment

The technical setup at OneFunded is diverse, offering traders a choice between three major industry platforms: MetaTrader 5 (MT5), cTrader, and TradeLocker. This variety allows traders to select an interface that aligns with their technical requirements, whether they prioritize the advanced charting of cTrader or the traditional ecosystem of MT5.

Asset Classes and Market Access

Traders have access to a broad spectrum of financial instruments, including:

• Forex: Major, minor, and exotic pairs.
• Indices: Global stock market indices.
• Commodities: Including energies and metals.
• Stocks: Individual equity CFDs.
• Cryptocurrencies: Available for trading throughout the week, including weekends.

Leverage Specifications

Leverage is segmented by asset class and, in some instances, by the chosen platform. This differentiation is crucial for margin management:

• Forex: A uniform 1:100 leverage across all platforms.
• Cryptocurrencies: Limited to 1:2, reflecting the high volatility of the asset class.
• Metals, Indices, and Energies: 1:100 on MT5, but restricted to 1:30 on TradeLocker and cTrader. This discrepancy means MT5 users have significantly more margin flexibility for these assets.
• Stocks: 1:100 on cTrader and MT5, but only 1:2 on TradeLocker.

Commission Structure

The firm applies a commission-based model for most assets. This is a direct cost that traders must factor into their expected value (EV) calculations:

• Forex, Metals, Indices, and Energies: $4 per lot.
• Stocks: $5 per lot.
• Crypto: $0 commission, which compensates for the lower leverage available. There is currently no "commission-free" option available for accounts that typically carry these costs.

Plan Models and Evaluation Processes

OneFunded offers three distinct paths to funding, each with different risk profiles and entry requirements. The maximum total allocation for a single trader is capped at $200,000.

Core and Flash Challenges (Two-Step and One-Step)

These are traditional evaluation models where traders must prove their skills over one or two phases. A key feature of these plans is the refundability of the evaluation fee, which is returned with the first successful payout. This acts as a performance incentive, effectively making the evaluation free for successful traders.

Value and Instant Challenges

The Value challenge is a more economical option, while the Instant model allows traders to bypass the evaluation phase and start earning from the outset. However, it is important to note that fees for Value and Instant challenges are non-refundable, regardless of performance or payout status.

Profit Sharing and Add-ons

The default profit split is set at 80% for the trader. However, OneFunded utilizes an "add-on" system at checkout, allowing traders to customize their terms:

• 90/10 Profit Split: Increases the trader's share to 90%.
• Weekly Payouts: Reduces the standard 14-day waiting period to 7 days. These add-ons require an additional upfront cost but can significantly improve the cash flow and long-term profitability of the account.

Risk Management and Drawdown Rules

The risk management framework at OneFunded is built on two primary pillars: Static Maximum Drawdown and Equity-based Daily Drawdown.

Drawdown Calculation

• Maximum Drawdown: This is static, meaning the limit does not "trail" or move up as the account balance increases. This is generally considered more trader-friendly as it provides a fixed buffer based on the initial balance.
• Daily Drawdown: This is calculated based on the Start-of-Day Equity. Traders must be cautious when holding positions overnight; if a position is in profit at the start of a new day, that profit becomes part of the equity used to calculate the daily loss limit. If the equity then drops significantly, the trader could breach the daily limit even if the account is still in overall profit.

The Max Exposure Rule

One of the most critical technical restrictions is the Max Exposure Rule.

• Floating losses for a single "trade idea" cannot exceed 3% of the Start-of-Trade-Idea Equity (this limit is tightened to 1% for Instant accounts).
• The firm monitors Margin Utilization, which is capped at 50%. These rules are designed to prevent "gambling" or "all-in" strategies. They force traders to maintain strict stop-loss discipline and diversify their risk across different setups.

Trading Restrictions and Prohibited Strategies

OneFunded maintains a rigorous set of rules regarding how trades are executed. Violating these can lead to account termination or the denial of payouts.

Expert Advisors (EAs) and Automation

The policy on EAs is specific:

• Pre-approval is mandatory. Traders must email support@onefunded.com to get their EA cleared before use.
• Only trading assistants are permitted. These are EAs that help with lot sizing, risk management, or position closing.
• Fully automated EAs that make trade decisions and execute them without human intervention are prohibited.

Prohibited Trading Styles

The firm explicitly bans several strategies that exploit market inefficiencies or platform mechanics:

• Arbitrage: Including latency and reverse arbitrage.
• Tick Scalping: Specifically strategies designed to exploit price feed delays.
• Martingale and Grid Systems: Prohibited when they involve uncontrolled exposure or aggressive averaging into losing positions.
• Hedging: While internal hedging (long and short on the same pair in one account) might be technically possible on some platforms, cross-account hedging (hedging between two different OneFunded accounts or with external accounts) is strictly forbidden.

News Trading and Copy Trading

• News Trading: Trading during high-impact news is allowed, but the firm monitors a 10-minute window (5 minutes before and 5 minutes after the release). If a trader appears to be exploiting price spikes or volatility "gaps" rather than following a standard strategy, the account may be flagged for review.
• Copy Trading: This is only permitted between a trader's own OneFunded accounts. Using external signals, social trading services, or third-party copiers is a violation of the terms of service.

The Consistency Rule: Best Day Profit Ratio

To ensure that trading results are the product of a consistent strategy rather than a single "lucky" trade, OneFunded implements a Best Day Profit Ratio.

• Evaluation Phase: Profits from a single day cannot exceed 50% (Core/Flash) or 40% (Value) of the total profit target.
• Funded Phase: Profits from a single day cannot exceed 30% (or 20% for Instant accounts) of the total profit at the time of a payout request.

It is important to understand that this is not a hard breach rule. If a trader exceeds this ratio, they do not lose their account. Instead, the payout or the move to the next phase is delayed until the trader continues trading and brings the ratio back within the allowed limits. This encourages long-term stability over high-risk, high-reward single-day events.

Payout Policies and Financial Logistics

The financial operations of OneFunded are governed by specific limits and timelines.

• Frequency: The standard payout cycle is every 14 days. This can be reduced to 7 days if the trader purchases the Weekly Payout add-on.
• Withdrawal Limits: There is a minimum withdrawal of $100 and a maximum of $10,000 per payout. This cap is applicable across all withdrawal methods.
• Methods: Traders can receive funds via Bank Transfer, Rise, or Cryptocurrency.
• Inactivity: Accounts are monitored for activity. An account will be disabled after 60 days of inactivity during the evaluation phase and 30 days during the funded phase.

Geographic and Compliance Restrictions

OneFunded does not provide services to residents of several countries due to regulatory requirements and international sanctions. These include, but are not limited to: Afghanistan, Belarus, Cuba, Iran, Iraq, North Korea, Russia, Syria, and Zimbabwe. Traders should verify their eligibility based on their country of residence before purchasing a challenge.

Summary

Key Points to Consider

• Approval-Based EAs: Automation is highly restricted and requires manual intervention and prior authorization.
• Static Drawdown: The maximum drawdown does not trail, providing a consistent risk buffer.
• Strict Exposure Limits: The 3% max exposure per trade idea is a significant constraint for aggressive traders.
• Consistency Rule: The Best Day Profit Ratio prevents payouts based on single-event windfalls but does not result in account loss.
• Platform Diversity: Access to MT5, cTrader, and TradeLocker provides high technical flexibility.

Target Trader Profile

OneFunded is best suited for disciplined, manual traders or those using trading assistants who focus on consistent, daily gains. It is ideal for traders who prefer a static drawdown model and are comfortable with a 14-day payout cycle (unless they opt for add-ons). It is not suitable for high-frequency algorithmic traders, martingale users, or those who rely on high-impact news "gambling."

Main Highlights and Limitations

• Highlights: Multiple platform choices, crypto trading on weekends, static max drawdown, and a refund policy for standard evaluations.
• Limitations: $10,000 cap per payout, strict 3% max exposure rule, non-refundable fees on Instant/Value accounts, and the requirement for EA pre-approval.