- ·Uses EOD trailing that never locks — maximum profit retention.
- ·Best profit split available: 80/20.
Account Types & Pricing
2 account types available. Pricing verified May 14, 2026.
| Plan | Price | Cycle | DLL | Split | Paul-tested |
|---|---|---|---|---|---|
| Classic Challenge (2-step) | — | — | None | 80/20 | No |
| Boost Challenge (2-step) | — | — | None | 90/10 | No |
Who OANDA Prop Trader Is For (And Who It Isn't)
Match yourself to OANDA Prop Trader's structure before signing up. Based on the 2 account types, drawdown mechanic, and Paul's testing data.
- ·Systematic traders who close cleanly each day
- ·Maximum profit-retention via trailing without lock
- ·Aggressive sizers — at least one plan has no consistency rule on funded
- ·Traders allergic to daily loss limits — at least one plan has no DLL
- ·Plan-variety shoppers — limited account-type selection
Plan Economics: What Each OANDA Prop Trader Account Actually Costs You
The headline price isn't the full picture. Here's the per-account math — buying-power cost, risk buffer, and breakeven estimate based on standard 30%-buffer-utilization assumptions.
| Plan | Buy-in | Risk buffer | Cost per $1K BP | Breakeven* |
|---|---|---|---|---|
| Classic Challenge (2-step) | — | — | — | — |
| Boost Challenge (2-step) | — | — | — | — |
How to read this:
- Buy-in = price you pay to start the evaluation (with PTV code applied where available).
- Risk buffer = dollars between your starting balance and the Maximum Loss Limit — the absolute drawdown room before breach.
- Cost per $1K buying power = price ÷ starting balance × $1,000. Lower = cheaper leverage. Useful to compare account sizes within the firm and across firms.
- Breakeven estimate* = approximate number of payout cycles to recoup your buy-in, assuming you utilize 30% of your risk buffer profitably per cycle at the plan's profit split. This is a baseline expectation, not a guarantee — your actual cycle output depends on strategy and discipline.
*Breakeven uses a standard 30%-buffer-utilization-per-cycle assumption. Aggressive sizing can shorten breakeven (and increase breach risk); conservative sizing extends it.
How OANDA Prop Trader Drawdown Works
EOD · Trails upOANDA Prop Trader uses end-of-day trailing drawdown that follows your highest EOD equity forever. The MLL never locks — it keeps moving up as your account grows. Intraday equity peaks don't affect it; only closing balance.
How OANDA Prop Trader's mechanic works in practice
- Daily close determines the new MLL high-water mark.
- A profit at close = MLL moves up by the profit amount.
- A loss at close (with overall account still above MLL) = MLL stays at the previous high.
- Intraday drawdown does NOT trigger the MLL — only EOD close matters.
- No lock event. The mechanic favors profit retention but never gives back the protection of a locked floor.
Best fit
Best for systematic strategies that close positions cleanly each session. Maximum profit retention without the lock-up trade-off. Strong fit for traders who care more about pulling profits than protecting initial capital.
What to watch out for
- The MLL keeps climbing forever — a 20% gain followed by a 15% retracement can still breach the account.
- Without a lock, every winning streak creates a higher threshold for the next losing streak.
- Holding a swing through close is risky — the EOD position decides whether the MLL moves up or stays put.
Calculate Your Drawdown
⚡ ToolPre-selected for OANDA Prop Trader. Full tool with all firms →
OANDA Prop Trader vs Same-Mechanic Alternatives
4 other firms use the same drawdown mechanic. Side-by-side on the dimensions that matter most when choosing within a category.
| Firm | Plans | Cheapest | Mechanic |
|---|---|---|---|
| OANDA Prop Trader This page | 2 | — | eod-trail |
| Alpha Capital Group | 6 | $50 | eod-trail |
| AquaFutures | 4 | $166 | eod-trail |
| BluSky | 8 | $497 | eod-trail |
| Blue Guardian Futures | 8 | $99 | eod-trail |
All firms in this table use eod-trail drawdown. See all drawdown mechanics →
How OANDA Prop Trader Payouts Actually Work
2 payout methods supported.
Payout method comparison
| Method | Fees | Speed | When to use |
|---|---|---|---|
| Bank Transfer | — | — | — |
| Crypto | Network gas only | Minutes | USDC/USDT typical. Fastest for international traders. |
Practical takeaway: OANDA Prop Trader's cycle length means you can realistically expect multiple payouts per month on a profitable funded account. The actual processing time after request varies by method — pick the option that matches your residency and crypto-comfort.