OneUp Trader Review 2024

OneUp Trader Review 2024

OneUp Trader is a proprietary trading firm catering to aspiring futures traders. They use an efficient assessment procedure to identify which traders they will provide with a funded trading account, with capital ranging from $25,000 to $250,000. Rather than focusing on more traditional investments, OneUp Trader concentrate mainly on proprietary futures, with a range of other instruments and indices also available to trade.

Prospective traders undergo a one-stage evaluation, which if they pass leads to a match with one of OneUp’s funding partners. At this point, traders can start their trading careers in earnest. The prop firm emphasises the importance of stable, measured trading approaches over riskier strategies.

OneUp Trader distinguish themselves by streamlining the journey towards funded trading while at the same time advocating for a sustainable trading ethos and encouraging traders to make steady and deliberate progress – a departure from the riskier “get rich quick” attitude prevalent among many other prop firms. OneUp’s key attributes of simplicity, community engagement, independence for their traders and their dedication to fostering a sense of trust make them an attractive choice for aspiring traders looking to explore the prop trading industry. The firm’s transparency regarding their rules and fees is an additional draw.

OneUp Trader Evaluations

OneUp Trader has simplified the evaluation process for prospective funded trading, ensuring their journey is as straightforward as possible.

Traders first need to undergo a one-stage evaluation phase to qualify for funding. Once this is completed, they can choose which funded trading account is best suited to their needs, with accounts starting at $25,000 and reaching $250,000. Over a period of 15 to 30 days, traders work towards achieving their profit target, demonstrating consistency throughout. For example, the cumulative net profits across any three days must amount to at least 80% of the highest single day’s net profit.

Monthly subscription fees give access to a funded trading account, prop trading software, advanced analytics, trading statistics tools and tools to assist with risk management. Alongside these fees, traders also compensate the firm with 10% of the profits they generate. Traders keep the remaining 90% of their earnings, representing one of the highest profit shares on offer in the futures prop trading industry. This ensures mutual benefits for both traders and the firm. Furthermore, traders retain 100% of their initial $10,000 in profits.

Attaining funding with OneUp Trader enables traders to benefit from the following features:

• Engage in a private trading community to exchange ideas and discuss trading strategies.
• Make use of sophisticated analytics and trading statistics tools, updated daily, to make better-informed trading decisions.
• Take advantage of OneUp Trader’s expansive funding network and multiple funding sources to maximize your profit potential.
• Select from a wide range of more than 20 leading trading execution platforms.

Below we take a look in more detail at OneUp Trader’s funded evaluation accounts.

Express Account

The OneUp Trader Express Account expedites the evaluation process, allowing traders to achieve funded status in as few as five trading days. Tailored for traders with a proven track record, the program provides swift access to funding without the need to repeat a lengthy evaluation.

Traders can only acquire an Express Funding Account equivalent in size to their previous Funded Account, with a monthly fee determined by the size of the account.

OneUp Funded Trader Rules

To qualify for a OneUp Trader funded trading account, traders need to achieve their profit target and adhere to the following rules:

• Don’t allow your account balance to reach or exceed the Trailing Drawdown.
• Limit trading activities to the permitted instruments at the designated times.
• Stick to the Dynamic Scaling Targets.
• Close all trading positions before and during significant economic releases.
• Sustain a minimum weekly total trade execution rate equivalent to at least 50% of the average number of trades completed successfully during the evaluation period. Weekly trading volume calculations exclude CME holidays and are prorated accordingly. Traders need to seek approval from OneUp Trader to place their account on hold for periods of extended inactivity.
• During the initial 90-day probationary period, starting from the account’s first trading day, you need to maintain a positive net Profit and Loss exceeding the initial starting balance at the end of each 15-calendar day interval. Discretionary warnings will be issued if the account balance falls below the initial starting balance.

Various parameters, such as the number of contracts permissible, maximum loss thresholds, profit targets, and drawdown amounts, are contingent upon the account size. Violating a rule may lead to the termination of the funded trading account, although OneUp Trader gives traders one opportunity to rectify the issue in question. Traders who breach the same rule for a second time have to undergo the evaluation again from the start to reinstate their funded trading account, with a reset cost of $100. There are no limitations on the number of times traders can reset their funded trading account.

Trading Days

To qualify for funding, traders need to trade for a minimum of 15 days, excluding holidays and weekends.

Permitted Times

All trading positions have to be closed by 3.15pm CT. The trading day begins at 5.00pm CT and finishes at 3.15pm CT the following day, excluding weekends and holidays. No trading activity or open positions are allowed between 3.15pm and 5.00pm CT.

Traders who break these time rules have the option to reset their balance at any time for a fee of $100.

Max Position Size

The maximum position size is the highest allowable number of open positions across all products at any given time. This is determined by account size.

Profit Target

Again, the profit target is determined by account size. It signifies the minimum net profit required to qualify for funding with OneUp Trader.

Trailing Drawdown

In line with practice among many other prop trading firms, OneUp Trader prop firm employs a trailing drawdown mechanism to evaluate performance. Traders must maintain their account balance below or equal to the maximum drawdown amount. As the account balance rises, the trailing drawdown also increases at a predetermined distance.

Trailing Drawdown Express Account

Your account balance must remain below or equal to the specified threshold. The Trailing Drawdown will increase by a predefined distance as your account balance grows.

• Traders are limited to acquiring an Express Funding Account a maximum of two times within a 30-day calendar period.
• Traders can purchase an Express Funding Account of the same size as their previous Funded Account.
• Should you opt to cancel your subscription to your Express Funding Account, you forfeit the Express Funding Account offer, meaning you can only start a standard Evaluation Account.
• If you reach the trailing drawdown, you’ll have the opportunity to reset your account for a fee of $100.

Consistency Rule

Traders are required to show consistent and regular trading for the entirety of the evaluation period. This involves adhering to a consistency rule which stipulates the combined net profits of a trader’s three best trading days amount to 80% or more of the highest single trading day’s net profit.

For example, if your best trading day yielded a net profit of $1,000 (after commissions), then the total of the three next best trading days must equal or exceed $800 (i.e. 80% of $1,000). This would look like:

• A net profit of $400 on the second-best trading day
• A net profit of $300 on the third-best trading day
• A net profit of $240 on the fourth-best trading day.

Giving a total of $940 on these three trading days combined, thereby exceeding the required $800 minimum.

This consistency requirement can also be fulfilled within two days, for example with a net profit of $1,000 on the best trading day and then a net profit of $800 on the second-best trading day.

Dynamic Scaling Targets

Your buying power, represented by the number of contracts available for trading, is determined by the Cash On Hand value visible in R|Trader Pro at the start of each trading session. Do bear in mind that your buying power for the day remains constant regardless of any changes in your floating Profit and Loss.

The graphic below outlines the relationship between your Cash on Hand value and the corresponding number of lots you can trade.

Upon making a withdrawal, your lot size will be recalibrated to reflect your current account balance. OneUp Trader advises traders that they should maintain sufficient profits in their account size to trade the same lot size.

Withdrawal Threshold

To reduce the risk of drawdowns during withdrawals and ensure the continued viability of your trading account, you are required to stick to the withdrawal thresholds listed below in order to qualify for withdrawals.

$25,000	Withdrawal Profit Threshold $1,500
$50,000	Withdrawal Profit Threshold $2,500
$100,000	Withdrawal Profit Threshold $3,500
$150,000	Withdrawal Profit Threshold $5,000
$250,000	Withdrawal Profit Threshold $5,500

For a funded trader with an account size of $100,000 and a 90% profit share, the withdrawal threshold operates as follows:

• On day 5, the trader generates $6,500 in profits, resulting in a total account balance of $106,500. As the withdrawal threshold for this account size is $3,500, the trader becomes eligible for a withdrawal amount of $3,000, remaining $500 below the threshold.

• By day 8, the account balance has risen to $109,500. Since the threshold remains at $3,500, the trader can now withdraw an amount exceeding the threshold by $6,000.

Withdrawal Process

Requesting a withdrawal is a straightforward process: traders simply need to email OneUp Trader specifying how much they would like to withdraw. If the withdrawal threshold has been met, the request will be processed on the same day.

Withdrawal requests are subject to a minimum transfer amount of $1,000 from the trader’s profit share. Withdrawals can be facilitated through bank wire or cryptocurrency, and can be requested from Monday to Friday. They are typically posted to your account within one to two business days.

Under certain circumstances, the funding company reserves the right to request fund withdrawals from your account. For example, in the case of a trader with a 90% profit share:

• Withdrawal request: $4,000
• Trader’s share: 90% x $4,000 = $3,600 
• Funding partner’s share:10% x $4,000 = $400

Cryptocurrency Withdrawals

To request a withdrawal processed by cryptocurrency, traders need to email OneUp Trader stating their wallet address, crypto name (BTC or USDT), network type (Ethereum, Tron, BSC), and the withdrawal amount desired. Again, you can submit a request between Monday and Friday, and it will be processed on the same day.

Trading Instruments

The products detailed in the table below can be trading during normal trading hours, unless stated otherwise. It’s important to ensure that you aren’t loading an expired contract for the instrument you intend to trade, and that you have transitioned to the most active month.

Equity Futures	Interest Rate Futures	Currency Futures	Agricultural Futures	Energy Futures	Metal Futures	Micro E-Mini Futures
E-mini S&P500 (ES) E-mini NASDAQ 100 (NQ) E-mini Dow Jones (YM) E-mini S&P MidCap 400 (EMD) E-mini Russel 2000 (RTY) Nikkei NKD (NKD)	2-Year Note (ZT) 5-Year Note (ZF) 10-Year Note (ZN) 30-Year Bond (ZB) Ultra-Bond (UB)	Australian $ (6A) British Pound (6B) Canadian $ (6C) Euro FX (6E) Japanese Yen (6J) Swiss Franc (6S) New Zealand Dollar (6N)	Lean Hogs (HE) Live Cattle (LE) Feeder Cattle (GF) Corn (ZC) Wheat (ZW) Soybeans (ZS) Soybean Meal (ZM) Soybean Oil (ZL)	Crude Oil (CL) E-mini Crude Oil (QM) Natural Gas (NG) E-mini Natural Gas (QG) Heating Oil (HO) New York Harbor (RB)	Gold (GC) Silver (SI) Copper (HG) Platinum (PL) Palladium (PA) miNY Silver (QI) miNY Gold (QO)	Micro E-Mini S&P 500 (MES) Micro E-Mini Dow Jones (MYM) Micro E-Mini Nasdaq-100 (MNQ) Micro E-Mini Russel 2000 (M2K) Micro Crude Oil (MCL) Micro Gold (MGC)

Trading Platforms

OneUp Trader offers a wide range of platform options for trading, listed below. The prop firm recommends using NinjaTrader, a platform renowned for its award-winning trading software, with thousands of apps and add-ons enabling endless customisation options. The platform is trusted by over 40,000 traders across the world for sophisticated market analysis, professional charting, and efficient order execution.

• Ninjatrader (recommend platform, with complimentary access during the evaluation and free on the NinjaTrader Desktop Version V.8.1 for funded traders)
• R | Trader (free for both evaluation and funded accounts)
• R | Trader Pro (free for both evaluation and funded accounts)
• Agena Trader
• Inside Edge Trader
• Investor RT
• Motive Wave
• MultiCharts
• Photon
• QScalp
• QST- Quick Screen Trading
• Track’n Trade
• Trade Navigator
• Volfix.net
• eSignal
• Jigsaw Trading
• ATAS Order Flow Trading
• Bookmap
• Quantower
• Sierra Chart
• Medved Trader

Conclusion

OneUp Trader’s funded accounts present a number of advantages that could help you to take your trading career to the next level. Access to sophisticated analytics, a good range of educational materials and a supportive trading community all combine to help you on the path to becoming a successful funded trader, allowing you to trade with substantial capital without putting any of your own funds at risk.

With a streamlined one-stage evaluation phase, absence of monthly data fees and an intuitive dashboard, OneUp Trader provide all the necessary elements of an enjoyable and relatively stress-free funded day trading experience. Traders who stick to the rules to keep their funded account open will benefit from a significant degree of autonomy over their trading activities, including what they trade, the volume traded, and their trading partners.

As the prop firm places an emphasis on providing a quicker and simplified journey towards achieving funding and success in the prop trading world, we recommend OneUp Trader for traders with a reasonable amount of experience and familiarity with risk management. It’s essential to recognise that futures trading is an inherently risky business, and as such may not be suitable for all investors.

Additionally, we would recommend gauging all the pros and cons of OneUp Trader by comparing them to its main competitors. The futures prop trading firm has many competitors, including industry leaders Topstep, Apex Trader Funding, and MyFundedFutures. Each one of these prop firms offer access to a wide range of funded account options for undercapitalized traders, enabling them to perform in the futures market. Just as OneUp Trader, these prop firms grant you access to sophisticated trading platforms and futures contracts as well as offering attractive payout structures.

Make an informed decision with our in-depth prop firm reviews:

• Apex Trader Review 2024

• MyFundedFutures Review 2024

• Topstep Review 2024

OneUp Trader FAQs

What If I don’t do well?

Our funding partners set the funding criteria that traders must pass, and unfortunately, not adhering to the criteria will not secure a funded account for you.

You can always try again by resetting your account balance or extending your evaluation.

Can I have multiple evaluation accounts?

Multiple evaluation accounts are allowed, but traders can only have one Express Funding account at a time.

Additionally, traders can be funded on up to 3 accounts simultaneously using different email addresses.

Please note that the accounts must meet the eligibility criteria for funding.

If you require further information, please contact our support team for assistance.

Can I reset my balance?

Violated one of the rules? It’s ok, you can reset your balance whenever you want for $100.

Simply log into your dashboard and click Reset My Balance and you’re all set. This will reset your starting balance and evaluation rules.

Account resets are processed immediately and may take up to 30 mins to reflect in your account.

You can also start a new evaluation account by logging into your dashboard.

Is there an age requirement?

Yes, traders must be of legal age, over the age of 18 years old.