OneUp Trader is a proprietary trading firm that offers traders an opportunity to trade with the firm’s capital.
Launched in 2017 in Wilmington, Delaware, OneUp has quickly gained recognition among traders who are looking to grow their trading capital and sharpen their trading skills.
The platform offers traders the ability to trade in various markets, including futures, currencies and stocks.
In this OneUp Trader review, we will take a closer look at how it stands out.
What is OneUp Trader?
As stated, OneUp Trader is a prop trading firm that provides traders with capital to trade in various markets.
The funds that traders receive from OneUp are not loans. Rather, they are the firm’s own capital that traders can use to trade and generate profits for both themselves and the firm.
Traders can trade futures, currencies and stocks. And they can withdraw their profits at any time.
OneUp Trader is different from most other prop trading firms in that it has a transparent and straightforward fee structure. Traders only pay a monthly subscription fee and a profit split with the firm. This structure allows traders to keep their profits and reinvest them into their trading accounts to grow their trading capital.
How Does OneUp Trader Work?
Traders who want to join OneUp first have to pass a trading evaluation. This is not uncommon–it’s often a requirement of the best prop trading firms.
This evaluation consists of meeting specific trading parameters set by the firm, such as achieving a specific profit target within a specific drawdown limit. The evaluation process varies depending on the trader’s preferred market and trading style.
Once a trader passes the evaluation, they will receive an account with OneUp Trader’s capital that they can use to trade.
Traders who exceed their initial profit targets and keep within the drawdown limits can upgrade their account size. This allows traders to receive more capital from the firm to trade, which can lead to higher profits and faster growth of their trading accounts.
Traders do not need to have their own capital to trade with OneUp, which is an advantage for those who are just starting out or have limited funds.
It also allows traders to diversify their trading portfolios by trading in different markets with OneUp Trader’s capital.
OneUp Trader Review: How it Stands Out
You, dear trader, have a neverending amount of platforms to choose from in terms of trading.
The trick is deciding which is the best fit. Here are a few ways OneUp stands out from its competitors:
- 1-step evaluation process with attainable and clear goals
- 7-day free trial
- No hidden or data fees
- High payout ratio, you get to keep 100% of the first $10,000 profit–making it one of the highest-paying prop trading firms.
- Free and unlimited profit withdrawals
To conduct your own research for how OneUp stands out, consult the best-funded stock trading accounts.
Strengths of OneUp Trader
Transparency
OneUp Trader has a transparent and straightforward fee structure that traders can understand easily.
Traders only pay a monthly subscription fee and a profit split with the firm, enabling them to keep most of their profits and reinvest them into their trading accounts to grow their capital.
Risk Management
OneUp has stringent risk management protocols in place to protect the firm’s capital and traders’ accounts.
This includes setting maximum drawdown limits that traders must adhere to and incorporating various risk management strategies into their trading.
Variety of Trading Options
OneUp offers traders the ability to trade in various markets, including futures, currencies and stocks.
This allows traders to diversify their trading strategies and portfolios and take advantage of multiple trading opportunities.
Consistency
OneUp Trader is consistent in its approach to trading and evaluation.
Traders can expect the same evaluation and trading rules for different markets and strategies, which makes it easier to develop and follow standardized trading strategies.
Weaknesses of OneUp Trader
Lack of Flexibility
OneUp’s strict evaluation and risk management protocols may not be suitable for all traders.
Some traders may want more flexibility in their trading strategies and risk management protocols. OneUp Trader’s approach may not accommodate this.
Small Margin Requirements
OneUp has relatively small margin requirements, which may be an advantage for traders who want to start with a low amount of capital but could also be a disadvantage when a trader has $250,000.
Smaller margin requirements mean that traders may have significant leverage, which could pose significant risks if they are not familiar with the market or lack proper risk management strategies.
Final Thoughts
OneUp Trader is undoubtedly an excellent option for traders who are looking to grow their trading capital and sharpen their trading skills.
The firm’s transparent fee structure, risk management protocols and variety of trading options make it an attractive option for traders of all levels.
However, OneUp Trader’s strict evaluation and risk management protocols may not be suitable for all traders. Traders should be sure they understand OneUp Trader’s approach to trading before committing to it.
Other than that, the decision is ultimately up to you. Click here if you believe OneUp Trader meets your trading needs.
