Your questions, answered.
OnlyFunds is a proprietary firm looking for skilled and accomplished traders to become part of our community.
We’ve created an evaluation process to identify skilled traders seeking an opportunity to trade with larger capital. Those who successfully pass the evaluation will unlock access to an OnlyFunds account, where they can manage funds remotely and increase the account’s value through our scaling plan. As a OnlyFunds trader, you will be able to retain up to 90% of the profits generated on the OnlyFunds account, subject to compliance with our Terms and Conditions.
We believe that all retail traders deserve the opportunity to secure larger amounts of capital based on their performance and dedication to their trading.
NOTE: All OnlyFunds trading accounts provided are demo accounts that simulate live market conditions. Traders are compensated and receive payment from OnlyFunds for the data they provide; this extends to the provision of profits (if any) generated on their demo trading accounts.
Becoming a funded trader is simple – to register and join our team of funded traders, follow the steps below.
1) Select the evaluation account size you wish to trade.
2) Go to checkout and proceed with payment for the evaluation.
3) Once payment for the evaluation has been processed, you’ll receive an email containing both your account credentials and logins to the OnlyFunds’ dashboard.
NOTE: It is essential that you familiarize yourself with the evaluation’s guidelines before commencing. In case of any uncertainty or confusion regarding the rules, please reach out to our support team for further explanation.
It is important to note that all funded accounts go through a KYC/AML screening process. To avoid delays in receiving your funded account, please ensure that you are able to provide a valid form of ID and proof of address that were issued within the last 90 days, if you are successful in passing the evaluation phase.
Becoming a funded trader is simple – to register and join our team of funded traders, follow the steps below.
1) Select the evaluation account size you wish to trade.
2) Go to checkout and proceed with payment for the evaluation.
3) Once payment for the evaluation has been processed, you’ll receive an email containing both your account credentials and logins to the OnlyFunds’ dashboard.
NOTE: It is essential that you familiarize yourself with the evaluation’s guidelines before commencing. In case of any uncertainty or confusion regarding the rules, please reach out to our support team for further explanation.
It is important to note that all funded accounts go through a KYC/AML screening process. To avoid delays in receiving your funded account, please ensure that you are able to provide a valid form of ID and proof of address that were issued within the last 90 days, if you are successful in passing the evaluation phase.
To join OnlyFunds, you must be 18 years or older. Due to regulatory conditions, we are unable to offer services with traders residing in the following countries:
Afghanistan, Burundi, Central African Republic, Congo Republic, Cuba, Crimea, Democratic Republic of Congo, Eritrean, Guinea, Guinea-Bissau, Iran, Iraq, Kosovo, Lebanon, Liberia, Libya, Myanmar, North Korea, Papau New Guinea, Pakistan, Somalia, Sudan, South Sudan, Syria, Vanuatu, Venezuela, Yeme, Zimbabwe.
NOTE: The provision of services is not extended to individuals who appear on sanction lists, possess criminal records associated with financial crime, terrorism, or have been previously prohibited due to breach of contract, with no allowances.
————————————— USA Update – 15th March 2024 —————————————
We’re excited to announce that we have expanded our platform offerings to include DXTrade, in addition to MetaTrader4 (MT4). This new platform is part of our ongoing efforts to enhance the trading experience for our clients. However, there are important updates regarding access for clients in the United States:
– New Platform Addition for US Clients: DXTrade is now available to new clients from the United States. This is in addition to our existing platform, MT4. However, it’s important to note that new clients from the United States will not have access to MT4. As a result, they will also not have access to HFT Accounts, as HFT functionality is currently exclusive to MT4 and is not available on DXTrade.
– No Change for Clients Outside the US: For clients interested in our services outside the US, there will be no change other than the addition of DXTrade to the platform options (clients can select either MT4 or DXTrade).
Our commitment remains steadfast to ensuring that OnlyFunds delivers value to all those across the world.
Each individual has the ability to secure a maximum capital allocation of $600K. This rule extends to a maximum allocation of $600k per house hold.
There are no limitations for how many individual accounts you can have, permitting the combined total does not exceed $600K in funded capital.
NOTE: the $600K can be a combination of HFT and standard accounts.
No – We do not currently permit account merging.
OnlyFunds has partnered with Eightcap to deliver a wide range of instruments available to trade which include: Forex, Commodities and Indices.
For more information please visit the below link:
OnlyFunds has partnered with Eightcap to deliver market-leading spreads and commissions.
Please log into the following account to view our spreads:
– Platform: MT4
– Acc number: 88907005
– Investor: 8umzwzE
– Server: Eightcap-Real-5
Below outlines leverage applicable across both HFT & Standard challenges/OnlyFunds accounts:
HFT:
– Challenges – 1:30
– OnlyFunds Account – 1:30
Standard:
– Challenges – 1:50
– OnlyFunds Account – 1:50
NOTE: The leverage we offer is designed to ensure both sustainability and risk management for our traders.
The maximum lot/order size per pair is 50 lots at any given time.
NOTE: Any trades placed which exceeds 50 lots will be removed when the account is reviewed.
We currently offer traders the ability to trade with either of the following platforms:
– MetaTrader 4 (MT4).
– DXTrade.
NOTE: Due to regulatory constraints, clients from the United States can only utilize DXTrade & are unable to utilize MT4.
This also means that HFT Accounts are NOT available to clients from the United States.
If you trade on MetaTrader 5 (MT5) but are still interested in becoming part of OnlyFunds, you can simply utilize a trade copier platform such as Social Trader Tool, Traders Connect or Duplikium.
For more information on MT4 and/or to download an MT4 terminal, please visit the below link:
https://www.eightcap.com/en/platforms/metatrader-4/
Once payment is complete, you’ll receive the logins for the trader dashboard and trading account within 10 minutes.
(please ensure you check your junk/spam folder).
If after 10 minutes you have not received your credentials and purchase confirmation, please contact our support team via the contact us page on our website.
Verification accounts may take up to 48 hours to process given we thoroughly review the account for compliance and any violations that may have occurred.
Please note that all trading accounts must be registered under the individual’s name due to Know Your Customer (KYC) regulations. This is essential for verifying identity and ensuring compliance with legal standards.
If you wish to contact us please visit the “”Contact Us”” section on our website and fill the support request form out.
We aim to respond to all requests within 24hrs.
For the 1-Stage HFT Challenge, your evaluation period will begin as soon as you place your first trade, including pending orders placed (even if the trade has not been executed).
NOTE: If your account is inactive for more than 30 days it will be disabled.
The OnlyFunds 1-Stage HFT Evaluation consists of a 1-Stage Evaluation process:
Evaluation (Stage 1):
You will have 30 calendar days from the date of the first executed trade or pending order (ends at 5pm EST on the last day of this phase).
In order to pass the 1-Stage HFT evaluation, you need to reach a profit target of 10%
NOTE: Once the profit target has been achieved, your account will automatically disable & you’ll progress to the next stage.
Once you become a trader with OnlyFunds, you will no longer need to meet any profit targets.
In order to pass 1-Stage HFT evaluation, you need to meet the requirement of zero minimum trading days.
This essentially means once you have met the profit target percentage, you will progress to receiving your OnlyFunds funded account.
A trading day is defined as a new trade placed on separate days (this does not have to be consecutive).
Maximum Daily Loss | 4%
The maximum daily loss/drawdown permitted is 4% of your initial balance from your previous day’s ending balance or equity (whichever is higher).
Your maximum daily loss is based on the account’s equity or balance (whichever is highest).
This will be recalculated at the end of each day (5:00pm EST server time).
Example:
If your initial account balance is $100,000, your max daily loss will be set at 4% ($4,000).
If your ending day balance or equity (whichever is higher) is $102,000, then your maximum daily loss limit for the new day will be $98,000.
Profits made throughout the trading day will not affect your daily loss limit equity level and will act as a buffer.
NOTE: Violating the maximum daily drawdown limit will result in an automatic failure/breach of your account. Subsequently, you will no longer be able to continue trading with that account.
Max Overall Loss | 8%
The maximum overall loss/drawdown permitted is 8% of your initial account balance.
Example:
If your initial account balance is $100,000, your max overall loss will be set at 8% ($8,000).
This means your account equity should never fall below $92,000 at any given time.
NOTE: Violating the maximum overall loss will result in an automatic failure/breach of your account. Subsequently, you will no longer be able to continue trading with that account.
If at the end of the 30 days provided, your account ends in overall profit without breaching the maximum daily loss, maximum overall loss or any other rules whilst meeting the minimum trading days required, you will be eligible for a free retry (retries are unlimited should the above conditions be met).
NOTE: free retries will only be provided once the full evaluation period has ended.
For the 1-Stage HFT challenge, you can trade during news without any restrictions.
NOTE: Due to increased volatility around high-impact news events, we encourage exercising extreme caution should you choose to trade during these periods.
For the 1-Stage HFT Challenge, you can trade provided that the pair/instruments is tradeable on weekends.
Trading with the use of an Expert Advisor (EA) is permitted. Please ensure that the EA being used does not require you to change your trading or investor password as this would result in an automatic breach/violation of your account.
Prohibited EA’s
– Latency arbitrage
– Reverse arbitrage
– Hedge arbitrage
– Data feed manipulation
– Tick scalping
– Emulators
– Account management via a copy trader belonging to 3rd party
– Signal trading via a copy trader
NOTE: Using an Expert Advisor (EA) is permitted, however using a public or third-party EA may result in duplicated strategies amongst traders therefore violating our maximum allocation rule. By using a public or third party EA, you run the risk of being denied a funded account.
Yes, Martingale Strategy is allowed.
Yes, HFT is permitted but on the evaluation phase only.
(HFT is not permitted once you become an OnlyFunds trader).
Hedge Trading
Hedging trades is permitted however, hedging separate accounts against each other (known as Wash Trading) is not permitted and is a direct violation of the OnlyFunds’ Terms and Conditions.
Wash trading is illegal and considered to be fraudulent, as it undermines the integrity of financial markets.
Swing Trading
Swing trading is permitted.
NOTE: holding trades over the weekend and throughout high impact news events, may place your account at risk due to market gaps, a change in market sentiment, unexpected news events or a lack of liquidity in the market.
Scalp Trading
Yes, we allow our traders to scalp their trades. Please ensure any scalp positions you execute you’re using proper risk management as if it were your own live account.
Copy Trading
Traders are allowed to copy trades from their personal accounts to any OnlyFunds account (or vice versa). However, you must be able to prove that the account you are copying to or from is under your name and the trades are of your own idea.
Traders are not allowed to copy trades to other people’s accounts. This extends to any account management and/or copy trading services. For both evaluation phases and OnlyFunds accounts, any trader that is identified to be using these services will result in the trader’s account being terminated.
Account Sharing or Account Sale
Trading accounts may not be shared or transferred from one owner to another for any purpose. This includes account resale. Such activities are strictly forbidden and will result in immediate termination of the account(s) in violation and a ban from our services as they are in violation of the OnlyFunds Terms of Use.
Collusion Between Users
Collusion between users, also referred to as “”layering”” or “”spoofing,”” refers to a manipulative trading technique where individuals or a group work together to open multiple accounts with a financial institution and coordinate their trades in the same direction, whether to buy or sell, on a single asset across all accounts. This behavior constitutes market manipulation.
Hedging Across Multiple Accounts
Hedging the same asset across multiple accounts by trading in opposite directions (i.e.) buy/sell) is not permitted. In actual financial markets, the outcome of this strategy would result in a net profit of zero as the trader is protected from both upward and downward price movements. However, when trading through a prop firm, the trader incurs a loss on one account and generates a profit on the other, leading to risk-free gains. This goes against the principles of real financial markets and is a violation of compliance.
Use of a Delayed Data Feed
Using a delayed data feed means receiving market information with a lag, providing an advantage over other traders who have access to real-time market data. This results in an unequal playing field for traders who are relying on accurate, up-to-date information for their trades.
Prohibited Trading Summary
The strategies listed are the most frequently observed methods used to exploit demo accounts. This is not a comprehensive list, and other practices that violate our trading regulations may also exist. If any account is found to be using unfair strategies or engaging in unrealistic trading, they will not be approved for funding, and funded accounts may be terminated. It is important to note that all trading on our platform must be in compliance with the actual workings of the financial market.
We retain the right to investigate and discontinue access to our services for any strategy discovered to be inconsistent with real market conditions. We are looking for skilled traders that have sustainable, consistent trading strategies & incorporate proper risk management.
Once you have successfully completed the 1-Stage HFT Evaluation Process, your account will be subject to a review by our risk management team.
This is to ensure the account has not violated any of the OnlyFunds’ terms and conditions.
Once you have successfully completed the final phase, you are required to complete your KYC, which is located in the profile section of your trader dashboard. Following the approval of your KYC, we will dispatch the contract and provide you with the logins for your OnlyFunds account within 1-3 business days.
Your OnlyFunds account withdrawal period will commence as soon as you place your first trade. This includes pending orders placed, even if they have not been executed yet.
Months 1-3:
– Every 30 Calendar Days
Example
– 1st March 2023 – first trade placed on your funded account.
– 30th March 2023 – 30 days after your first trade was placed.
– (The withdrawal button will be enabled on the 31st March 2022 within your OnlyFunds dashboard > should your account end this period in profit without violating any of the rules).
Months 4 Onwards:
– Every 14 Calendar Days
Example
– 1st April 2023 – first trade placed on your funded account.
– 14th April 2023 – 14 days after your first trade was placed.
– (The withdrawal button will be enabled on the 15th April 2023 within your OnlyFunds dashboard should your account end this period in profit without violating any of the rules).
KEY NOTES:
If you submit a withdrawal, regardless of whether your withdrawal is approved or denied, your payout cycle will reset – For example, you will need to wait another 30 calendar days before you are eligible for another withdrawal.
Your payout cycle only commences when you execute a trade i.e.) if you wait 10 days to execute your first trade after the account has been reset, you will be eligible for a payout 30 calendar days from the date that trade was executed.
After submitting your payout request, your account will be reviewed within 48 hours (business days only) and once approved, payment will be processed within three business days.
Trading will be temporarily suspended to allow the risk team time to review and evaluate trading performance. Once the request is approved, trading will be reinstated. The trader will then receive a payout approval confirmation email; the account at this time will be reset and they can recommence trading.
Yes. Minimum Withdrawal Amount Is $100.
Accounts will be automatically disabled if there is no trading activity for 30 days. A disabled account is considered a violation of the account rules, leading to forfeiture by the trader. Traders are responsible for familiarising themselves with the rules and conditions of their OnlyFunds accounts.
No – we do not offer a refund of your evaluation fee for HFT Accounts (we only provide a refund of the evaluation fee on Standard Accounts).
For 1-Stage HFT Accounts the following profit split & schedule is applicable:
Month 1:
– 60% profit split
– 5% profit cap on account
Month 2:
– 70% profit split
– 5% profit cap on account
Month 3:
– 80% profit split
– 5% profit cap on account
Month 4 & Onwards:
– 80% profit split
– No profit cap applies
It is your responsibility to manage any taxes payable on your payouts inline with your country’s laws and regulations.
Once you become an OnlyFunds trader, you will no longer need to meet any profit targets.
For 1-Stage HFT accounts, you need to trade a minimum of 10 trading days on your OnlyFunds account to be eligible for a payout. This applies for the first 3 months of trading only.
Please refer to below schedule:
Month 1
– Minimum Trading Days = 10 trading days
Month 2
– Minimum Trading Days = 10 trading days
Month 3
– Minimum Trading Days = 10 trading days
Month 4 & Onwards
– There are no minimum trading days required
KEY NOTES: A trading day is defined as a new trade placed on 10 separate days (this does not have to be consecutive).
Traders cannot bypass the minimum 10 trading day rule on their OnlyFunds account by executing 0.01 lot size trades until the minimum trading days have been met. Trades executed in this manner will be removed and will not be considered as an official trading day (by definition).
OnlyFunds are searching for skilled traders that can demonstrate consistency in their trading strategy. Executing one trade per day for instance/example, by opening and closing the trade within five minutes, especially when this behaviour is inconsistent with prior trading patterns (extending to the provision of trade volume, lot sizes, using a TP and/or SL etc.) merely to fulfill the minimum daily trading day requirement, does not establish a viable or sustainable trading strategy. This often occurs after profits have been made on previous trading days, showing a clear shift from the original trading plan. Trying to circumvent the system in this way is ineffective and will be detected – the rules for consistency are there for a purpose.
Maximum Daily Loss | 4%
The maximum daily loss/drawdown permitted is 4% of your initial balance from your previous day’s ending balance or equity (whichever is higher).
Your maximum daily loss is based on the account’s equity or balance (whichever is highest).
This will be recalculated at the end of each day (5:00pm EST server time).
Example:
If your initial account balance is $100,000, your max daily loss will be set at 4% ($4,000).
If your ending day balance or equity (whichever is higher) is $102,000, then your maximum daily loss limit for the new day will be $98,000.
Profits made throughout the trading day will not affect your daily loss limit equity level and will act as a buffer.
NOTE: Violating the maximum daily drawdown limit will result in an automatic failure/breach of your account. Subsequently, you will no longer be able to continue trading with that account.
Max Overall Loss | 8%
The maximum overall loss/drawdown permitted is 8% of your initial account balance.
Example:
If your initial account balance is $100,000, your max overall loss will be set at 8% ($8,000).
This means your account equity should never fall below $92,000 at any given time.
NOTE: Violating the maximum overall loss will result in an automatic failure/breach of your account. Subsequently, you will no longer be able to continue trading with that account.
There is no scaling plan available currently for HFT Accounts. Standard Accounts on the other hand offer a very attractive scaling plan.
We acknowledge that our HFT Accounts don’t offer as much flexibility as our Standard Accounts. This is because we allow High-Frequency Trading (HFT) during the evaluation phase/s, which can effectively manipulate the system and be passed quite easily.
For the 1-Stage HFT account, you can trade during news without any restrictions.
NOTE: Due to increased volatility around high-impact news events, we encourage exercising extreme caution should you choose to trade during these periods.
No – We do not permit traders to execute any trades on weekends for the 1-Stage HFT account; even if the pair/instrument is tradable on weekends.
NOTE: We allow you to hold trades over the weekend
Trading with the use of an Expert Advisor (EA) is permitted. Please ensure that the EA being used does not require you to change your trading or investor password as this would result in an automatic breach/violation of your account.
Prohibited EA’s:
– High-frequency trading (HFT)
– Latency arbitrage
– Reverse arbitrage
– Hedge arbitrage
– Data feed manipulation
– Tick scalping
– Emulators
– Account management via a copy trader belonging to 3rd party
– Signal trading via a copy trader
NOTE: Using an Expert Advisor (EA) is permitted, however using a public or third-party EA may result in duplicated strategies amongst traders therefore violating our maximum allocation rule. By using a public or third party EA, you run the risk of being denied your payout and flagged for copy trading.
Yes – Martingale Strategy is allowed.
No – HFT is NOT permitted on your 1-Stage HFT OnlyFunds account.
There is no limit to the number of trades you can execute on any given instrument.
However, we strongly encourage all traders to review the trading rules thorougly to ensure they fully understand them before trading.
Hedge Trading
Hedging trades is permitted however, hedging separate accounts against each other (known as Wash Trading) is not permitted and is a direct violation of the OnlyFunds’ Terms and Conditions.
Wash trading is illegal and considered to be fraudulent, as it undermines the integrity of financial markets.
Swing Trading
Swing trading is permitted.
NOTE: holding trades over the weekend and throughout high impact news events, may place your account at risk due to market gaps, a change in market sentiment, unexpected news events or a lack of liquidity in the market.
Scalp Trading
Yes, we allow our traders to scalp their trades. Please ensure any scalp positions you execute you’re using proper risk management as if it were your own live account.
Copy Trading
Traders are allowed to copy trades from their personal accounts to any OnlyFunds account (or vice versa). However, you must be able to prove that the account you are copying to or from is under your name and the trades are of your own idea.
Traders are not allowed to copy trades to other people’s accounts. This extends to any account management and/or copy trading services. For both evaluation phases and OnlyFunds accounts, any trader that is identified to be using these services will result in the trader’s account being terminated.
Account Sharing or Account Sale
Trading accounts may not be shared or transferred from one owner to another for any purpose. This includes account resale. Such activities are strictly forbidden and will result in immediate termination of the account(s) in violation and a ban from our services as they are in violation of the OnlyFunds Terms of Use.
High-Frequency Trading (HFT)
High-frequency trading (HFT) is a type of algorithmic trading that uses advanced computer algorithms and high-speed connectivity to execute trades at extremely high speeds. HFT systems are designed to place a large number of trades in milliseconds, exploiting small price movements in financial markets. These systems use complex algorithms and data analysis to make rapid decisions on trade execution and can place and cancel orders within milliseconds, often generating profits from the difference between bid and ask prices.
Collusion Between Users
Collusion between users, also referred to as “”layering”” or “”spoofing,”” refers to a manipulative trading technique where individuals or a group work together to open multiple accounts with a financial institution and coordinate their trades in the same direction, whether to buy or sell, on a single asset across all accounts. This behavior constitutes market manipulation.
Hedging Across Multiple Accounts
Hedging the same asset across multiple accounts by trading in opposite directions (i.e.) buy/sell) is not permitted. In actual financial markets, the outcome of this strategy would result in a net profit of zero as the trader is protected from both upward and downward price movements. However, when trading through a prop firm, the trader incurs a loss on one account and generates a profit on the other, leading to risk-free gains. This goes against the principles of real financial markets and is a violation of compliance.
Use of a Delayed Data Feed
Using a delayed data feed means receiving market information with a lag, providing an advantage over other traders who have access to real-time market data. This results in an unequal playing field for traders who are relying on accurate, up-to-date information for their trades.
Prohibited Trading Summary
The strategies listed are the most frequently observed methods used to exploit demo accounts. This is not a comprehensive list, and other practices that violate our trading regulations may also exist. If any account is found to be using unfair strategies or engaging in unrealistic trading, they will not be approved for funding, and funded accounts may be terminated. It is important to note that all trading on our platform must be in compliance with the actual workings of the financial market.
We retain the right to investigate and discontinue access to our services for any strategy discovered to be inconsistent with real market conditions. We are looking for skilled traders that have sustainable, consistent trading strategies & incorporate proper risk management.
We acknowledge that our 1-Stage HFT Account rules are more stringent. This is because we allow High-Frequency Trading (HFT) during the evaluation phases, which can effectively manipulate the system and be passed quite easily.
It’s important to stipulate that OnlyFunds is focused on sustainability of the business ensuring long term commercial viability & that we can pay out traders that follow the rules.
OnlyFunds was established to identify traders who can demonstrate sustainable trading strategies and sound risk management, rather than engaging in gambling-like behaviors.
Please refer to the below schedule for the 1-Stage HFT Account consistency rules:
Month 1:
– 60% profit split
– 5% profit cap
– Trades must fall within the trade range (refer to the “”Calculating Trade Range”” section)
– No single trade can account for 50% or more of the total withdrawal/payout amount you request; For example, if you plan to withdraw $2,000, no single trade should represent $1,000 or more (refer to the “”Definition Of A Single Trade”” section)
– No single day’s profit can exceed 40% or more of the total withdrawal/payout amount you request; For example, if you plan to withdraw $2,000, no single day’s profit should represent $800 or more (refer to the “”Daily Profit Threshold”” section)
– Trades that generate profit but do not fall within the specified trade range will be excluded/removed from the withdrawal/payout total
– Minimum 10 trading days
Month 2:
– 70% profit split
– 5% profit cap
– Trades must fall within the trade range (refer to the “”Calculating Trade Range”” section)
– No single trade can account for 50% or more of the total withdrawal/payout amount you request; For example, if you plan to withdraw $2,000, no single trade should represent $1,000 or more (refer to the “”Definition Of A Single Trade”” section)
– No single day’s profit can exceed 40% or more of the total withdrawal/payout amount you request; For example, if you plan to withdraw $2,000, no single day’s profit should represent $800 or more (refer to the “”Daily Profit Threshold”” section)
– Trades that generate profit but do not fall within the specified trade range will be excluded/removed from the withdrawal/payout total
– Minimum 10 trading days
Month 3:
– 80% profit split
– 5% profit cap
– Trades must fall within the trade range (refer to the “”Calculating Trade Range”” section)
– No single trade can account for 50% or more of the total withdrawal/payout amount you request; For example, if you plan to withdraw $2,000, no single trade should represent $1,000 or more (refer to the “”Definition Of A Single Trade”” section)
– No single day’s profit can exceed 40% or more of the total withdrawal/payout amount you request; For example, if you plan to withdraw $2,000, no single day’s profit should represent $800 or more (refer to the “”Daily Profit Threshold”” section)
– Trades that generate profit but do not fall within the specified trade range will be excluded/removed from the withdrawal/payout total
– Minimum 10 trading days
Month 4:
– 80% profit split
NOTE: Per above, the consistency rules are removed from Month 4 onwards when a trader can demonstrate sustainable trading strategies and sound risk management. We also do offer a Standard Account option where the consistency rules do not apply.
Understanding a Single Trade in Trading:
The manner in which the trade is executed or any subsequent modifications do not alter it’s classification as a single trade.
Execution Variability:
Regardless of whether a trade involves a single large lot (e.g., 1 lot) or is divided into smaller segments (like two 0.5 lots), it is considered a single trade if placed atleast 30 seconds apart. Any trade placed within the same 30 seconds will be classed as one trade, combining the lot sizes into one. This only applies to the same pair and trading direction.
NOTE: If two trades are placed within 30 seconds of each other, they will be combined into one trade AFTER the average lot size and trade range is calculated.
Average Lot Size Rule = total lots traded divided by the total number of closed trade
Max lot allowed = add 100% to the average lot size.
Min lot allowed = subtract -75% from the average lot size.
The trade range is calculated by adding 100% to your average trade size to establish the maximum limit and subtracting 75% to ascertain the minimum limit. For instance, if your average trade size is 10 Lots, trades within the range of 2.5 to 20 lots are deemed consistent with your average trade size. Trades outside this range are considered anomalies and will not contribute towards fulfilling the minimum trading days requirement.
NOTE: Trade ranges are calculated with all pairs/symbols combined (not individually by pair/symbol).
For the 1-Stage HFT OnlyFunds account, the Daily Profit Threshold is set at 40%.
This rule stipulates that the profit on any single day must not exceed 40% of the total profits accrued in your account.
Example: If your total withdrawal is $10,000, the the maximum profit you can achieve in a single day must not exceed $4,000.
If in the example above you have a single day which has generated $4,001 in profit, we would remove $4,001 from the total withdrawal.
The purpose of this rule is to encourage consistent trading behaviour and to prevent taking on excessive risk.
OnlyFunds is a proprietary firm looking for skilled and accomplished traders to become part of our community.
We’ve created an evaluation process to identify skilled traders seeking an opportunity to trade with larger capital. Those who successfully pass the evaluation will unlock access to an OnlyFunds account, where they can manage funds remotely and increase the account’s value through our scaling plan. As a OnlyFunds trader, you will be able to retain up to 90% of the profits generated on the OnlyFunds account, subject to compliance with our Terms and Conditions.
We believe that all retail traders deserve the opportunity to secure larger amounts of capital based on their performance and dedication to their trading.
NOTE: All OnlyFunds trading accounts provided are demo accounts that simulate live market conditions. Traders are compensated and receive payment from OnlyFunds for the data they provide; this extends to the provision of profits (if any) generated on their demo trading accounts.”
Becoming a funded trader is simple – to register and join our team of funded traders, follow the steps below.
1) Select the evaluation account size you wish to trade.
2) Go to checkout and proceed with payment for the evaluation.
3) Once payment for the evaluation has been processed, you’ll receive an email containing both your account credentials and logins to the OnlyFunds’ dashboard.
NOTE: It is essential that you familiarize yourself with the evaluation’s guidelines before commencing. In case of any uncertainty or confusion regarding the rules, please reach out to our support team for further explanation.
It is important to note that all funded accounts go through a KYC/AML screening process. To avoid delays in receiving your funded account, please ensure that you are able to provide a valid form of ID and proof of address that were issued within the last 90 days, if you are successful in passing the evaluation phase.
To join OnlyFunds, you must be 18 years or older. Due to regulatory conditions, we are unable to offer services with traders residing in the following countries:
Afghanistan, Burundi, Central African Republic, Congo Republic, Cuba, Crimea, Democratic Republic of Congo, Eritrean, Guinea, Guinea-Bissau, Iran, Iraq, Kosovo, Lebanon, Liberia, Libya, Myanmar, North Korea, Papau New Guinea, Pakistan, Somalia, Sudan, South Sudan, Syria, Vanuatu, Venezuela, Yeme, Zimbabwe.
NOTE: The provision of services is not extended to individuals who appear on sanction lists, possess criminal records associated with financial crime, terrorism, or have been previously prohibited due to breach of contract, with no allowances.
————————————— USA Update – 15th March 2024 —————————————
We’re excited to announce that we have expanded our platform offerings to include DXTrade, in addition to MetaTrader4 (MT4). This new platform is part of our ongoing efforts to enhance the trading experience for our clients. However, there are important updates regarding access for clients in the United States:
– New Platform Addition for US Clients: DXTrade is now available to new clients from the United States. This is in addition to our existing platform, MT4. However, it’s important to note that new clients from the United States will not have access to MT4. As a result, they will also not have access to HFT Accounts, as HFT functionality is currently exclusive to MT4 and is not available on DXTrade.
– No Change for Clients Outside the US: For clients interested in our services outside the US, there will be no change other than the addition of DXTrade to the platform options (clients can select either MT4 or DXTrade).
Our commitment remains steadfast to ensuring that OnlyFunds delivers value to all those across the world.
Each individual has the ability to secure a maximum capital allocation of $600K. This rule extends to a maximum allocation of $600k per house hold.
There are no limitations for how many individual accounts you can have, permitting the combined total does not exceed $600K in funded capital.
NOTE: the $600K can be a combination of HFT and standard accounts.
No – We do not currently permit account merging.
OnlyFunds has partnered with Eightcap to deliver a wide range of instruments available to trade which include: Forex, Commodities and Indices.
For more information please visit the below link:
OnlyFunds has partnered with Eightcap to deliver market-leading spreads and commissions.
Please log into the following account to view our spreads:
– Platform: MT4
– Acc number: 88907005
– Investor: 8umzwzE
– Server: Eightcap-Real-5
Below outlines leverage applicable across both HFT & Standard challenges/OnlyFunds accounts:
HFT:
– Challenges – 1:30
– OnlyFunds Account – 1:30
Standard:
– Challenges – 1:50
– OnlyFunds Account – 1:50
NOTE: The leverage we offer is designed to ensure both sustainability and risk management for our traders.
The maximum lot/order size per pair is 50 lots at any given time.
NOTE: Any trades placed which exceeds 50 lots will be removed when the account is reviewed.
We currently offer traders the ability to trade with either of the following platforms:
– MetaTrader 4 (MT4).
– DXTrade.
NOTE: Due to regulatory constraints, clients from the United States can only utilize DXTrade & are unable to utilize MT4.
This also means that HFT Accounts are NOT available to clients from the United States.
If you trade on MetaTrader 5 (MT5) but are still interested in becoming part of OnlyFunds, you can simply utilize a trade copier platform such as Social Trader Tool, Traders Connect or Duplikium.
For more information on MT4 and/or to download an MT4 terminal, please visit the below link:
https://www.eightcap.com/en/platforms/metatrader-4/
Once payment is complete, you’ll receive the logins for the trader dashboard and trading account within 10 minutes.
(please ensure you check your junk/spam folder).
If after 10 minutes you have not received your credentials and purchase confirmation, please contact our support team via the contact us page on our website.
Verification accounts may take up to 48 hours to process given we thoroughly review the account for compliance and any violations that may have occurred.
Please note that all trading accounts must be registered under the individual’s name due to Know Your Customer (KYC) regulations. This is essential for verifying identity and ensuring compliance with legal standards.
We accept all major credit/debit cards & crypto for purchases and withdrawals
If you wish to contact us please visit the “Contact Us” section on our website and fill the support request form out.
We aim to respond to all requests within 24hrs.
For both the Challenge and Verification stages, your evaluation period will begin as soon as you place your first trade, including pending orders placed (even if the trade has not been executed).
NOTE: If your account is inactive for more than 30 days it will be disabled.
The OnlyFunds 2-Stage HFT Evaluation consists of a 2-Stage Evaluation process:
Challenge (Stage 1):
You will have 30 calendar days from the date of the first executed trade or pending order (ends at 5pm EST on the last day of this phase).
Verification (Stage 2):
You will have 60 calendar days from the date of the first executed trade or pending order (ends at 5pm EST on the last day of this phase).
Challenge (Stage 1):
In order to pass Stage 1, you need to reach a profit target of 10%
Verification (Stage 2):
In order to pass Stage 2, you need to reach a profit target of 5%
NOTE: Once the profit target has been achieved, your account will automatically disable & you’ll progress to the next stage.
Once you become a funded trader with OnlyFunds, you will no longer need to meet any profit targets.
Challenge (Stage 1):
In order to pass Stage 1, you need to trade a minimum of 5 trading days.
Verification (Stage 2):
In order to pass Stage 2, you need to trade a minimum of 5 trading days.
A trading day is defined as a new trade placed on separate days (this does not have to be consecutive).
Maximum Daily Loss | 4%
The maximum daily loss/drawdown permitted is 4% of your initial balance from your previous day’s ending balance or equity (whichever is higher).
Your maximum daily loss is based on the account’s equity or balance (whichever is highest).
This will be recalculated at the end of each day (5:00pm EST server time).
Example:
If your initial account balance is $100,000, your max daily loss will be set at 4% ($4,000).
If your ending day balance or equity (whichever is higher) is $102,000, then your maximum daily loss limit for the new day will be $98,000.
Profits made throughout the trading day will not affect your daily loss limit equity level and will act as a buffer.
NOTE: Violating the maximum daily drawdown limit will result in an automatic failure/breach of your account. Subsequently, you will no longer be able to continue trading with that account.
Max Overall Loss | 8%
The maximum overall loss/drawdown permitted is 8% of your initial account balance.
Example:
If your initial account balance is $100,000, your max overall loss will be set at 8% ($8,000).
This means your account equity should never fall below $92,000 at any given time.
NOTE: Violating the maximum overall loss will result in an automatic failure/breach of your account. Subsequently, you will no longer be able to continue trading with that account.
Challenge (Stage 1):
If at the end of the 30 days provided, your account ends in overall profit without breaching the maximum daily loss, maximum overall loss or any other rules whilst meeting the minimum trading days required, you will be eligible for a free retry (retries are unlimited should the above conditions be met).
NOTE: free retries will only be provided once the full evaluation period has ended.
Verification (Stage 2):
If at the end of the 60 days provided, your account ends in overall profit without breaching the maximum daily loss, maximum overall loss or any other rules whilst meeting the minimum trading days required, you will be eligible for a free retry. However, retries on the Verification will be reset back to the Challenge stage (retries are unlimited should the above conditions be met).
NOTE: free retries will only be provided once the full evaluation period has ended.
For both the Challenge and Verification stages on the 2-Stage HFT, you can trade during news without any restrictions.
NOTE: Due to increased volatility around high-impact news events, we encourage exercising extreme caution should you choose to trade during these periods.
For both the Challenge and Verification stages on the 2-Stage HFT, you can trade provided that the pair/instruments is tradeable on weekends.
Trading with the use of an Expert Advisor (EA) is permitted. Please ensure that the EA being used does not require you to change your trading or investor password as this would result in an automatic breach/violation of your account.
Prohibited EA’s
– Latency arbitrage
– Reverse arbitrage
– Hedge arbitrage
– Data feed manipulation
– Tick scalping
– Emulators
– Account management via a copy trader belonging to 3rd party
– Signal trading via a copy trader
NOTE: Using an Expert Advisor (EA) is permitted, however using a public or third-party EA may result in duplicated strategies amongst traders therefore violating our maximum allocation rule. By using a public or third party EA, you run the risk of being denied a funded account.
Yes, Martingale Strategy is allowed.
Yes, HFT is permitted on the 2-Stage HFT Challenge & Verification stages only (not once you become an OnlyFunds trader).
Hedge Trading
Hedging trades is permitted however, hedging separate accounts against each other (known as Wash Trading) is not permitted and is a direct violation of the OnlyFunds’ Terms and Conditions.
Wash trading is illegal and considered to be fraudulent, as it undermines the integrity of financial markets.
Swing Trading
Swing trading is permitted.
NOTE: holding trades over the weekend and throughout high impact news events, may place your account at risk due to market gaps, a change in market sentiment, unexpected news events or a lack of liquidity in the market.
Scalp Trading
Yes, we allow our traders to scalp their trades. Please ensure any scalp positions you execute you’re using proper risk management as if it were your own live account.
Copy Trading
Traders are allowed to copy trades from their personal accounts to any OnlyFunds account (or vice versa). However, you must be able to prove that the account you are copying to or from is under your name and the trades are of your own idea.
Traders are not allowed to copy trades to other people’s accounts. This extends to any account management and/or copy trading services. For both evaluation phases and OnlyFunds accounts, any trader that is identified to be using these services will result in the trader’s account being terminated.
Account Sharing or Account Sale
Trading accounts may not be shared or transferred from one owner to another for any purpose. This includes account resale. Such activities are strictly forbidden and will result in immediate termination of the account(s) in violation and a ban from our services as they are in violation of the OnlyFunds Terms of Use.
Collusion Between Users
Collusion between users, also referred to as “layering” or “spoofing,” refers to a manipulative trading technique where individuals or a group work together to open multiple accounts with a financial institution and coordinate their trades in the same direction, whether to buy or sell, on a single asset across all accounts. This behavior constitutes market manipulation.
Hedging Across Multiple Accounts
Hedging the same asset across multiple accounts by trading in opposite directions (i.e.) buy/sell) is not permitted. In actual financial markets, the outcome of this strategy would result in a net profit of zero as the trader is protected from both upward and downward price movements. However, when trading through a prop firm, the trader incurs a loss on one account and generates a profit on the other, leading to risk-free gains. This goes against the principles of real financial markets and is a violation of compliance.
Use of a Delayed Data Feed
Using a delayed data feed means receiving market information with a lag, providing an advantage over other traders who have access to real-time market data. This results in an unequal playing field for traders who are relying on accurate, up-to-date information for their trades.
Prohibited Trading Summary
The strategies listed are the most frequently observed methods used to exploit demo accounts. This is not a comprehensive list, and other practices that violate our trading regulations may also exist. If any account is found to be using unfair strategies or engaging in unrealistic trading, they will not be approved for funding, and funded accounts may be terminated. It is important to note that all trading on our platform must be in compliance with the actual workings of the financial market.
We retain the right to investigate and discontinue access to our services for any strategy discovered to be inconsistent with real market conditions. We are looking for skilled traders that have sustainable, consistent trading strategies & incorporate proper risk management.
Once you have successfully completed the Evaluation Process (both the Challenge and Verification stages for the 2-Stage HFT), your account will be subject to a review by our risk management team.
This is to ensure the account has not violated any of the OnlyFunds’ terms and conditions.
Once you have successfully completed the final phase, you are required to complete your KYC, which is located in the profile section of your trader dashboard. Following the approval of your KYC, we will dispatch the contract and provide you with the logins for your OnlyFunds account within 1-3 business days.
Your OnlyFunds account withdrawal period will commence as soon as you place your first trade. This includes pending orders placed, even if they have not been executed yet.
Months 1-3:
– Every 30 Calendar Days
Example
– 1st March 2023 – first trade placed on your funded account.
– 30th March 2023 – 30 days after your first trade was placed.
– (The withdrawal button will be enabled on the 31st March 2023 within your OnlyFunds dashboard > should your account end this period in profit without violating any of the rules).
Months 4 Onwards:
– Every 14 Calendar Days
Example
– 1st April 2023 – first trade placed on your funded account.
– 14th April 2023 – 14 days after your first trade was placed.
– (The withdrawal button will be enabled on the 15th April 2022 within your OnlyFunds dashboard should your account end this period in profit without violating any of the rules).
KEY NOTES:
If you submit a withdrawal, regardless of whether your withdrawal is approved or denied, your payout cycle will reset – For example, you will need to wait another 30 calendar days before you are eligible for another withdrawal.
Your payout cycle only commences when you execute a trade i.e.) if you wait 10 days to execute your first trade after the account has been reset, you will be eligible for a payout 30 calendar days from the date that trade was executed.
After submitting your payout request, your account will be reviewed within 48 hours (business days only) and once approved, payment will be processed within three business days.
Trading will be temporarily suspended to allow the risk team time to review and evaluate trading performance. Once the request is approved, trading will be reinstated. The trader will then receive a payout approval confirmation email; the account at this time will be reset and they can recommence trading.
Yes. Minimum Withdrawal Amount Is $100.
Accounts will be automatically disabled if there is no trading activity for 30 days. A disabled account is considered a violation of the account rules, leading to forfeiture by the trader. Traders are responsible for familiarising themselves with the rules and conditions of their OnlyFunds accounts.
No – we do not offer a refund of your evaluation fee for HFT Accounts (we do provide a refund of the evaluation fee on Standard Accounts).
For 2-Stage HFT Accounts the following profit split & schedule is applicable:
Month 1:
– 60% profit split
– 5% profit cap on account
Month 2:
– 70% profit split
– 5% profit cap on account
Month 3:
– 80% profit split
– 5% profit cap on account
Month 4 & Onwards:
– 80% profit split
– No profit cap applies
It is your responsibility to manage any taxes payable on your payouts inline with your country’s laws and regulations.
Once you become a funded trader with OnlyFunds, you will no longer need to meet any profit targets.
For 2-Stage HFT accounts, you need to trade a minimum of 10 trading days on your OnlyFunds account to be eligible for a payout. This applies for the first 3 months of trading only.
Please refer to below schedule:
Month 1
– Minimum Trading Days = 10 trading days
Month 2
– Minimum Trading Days = 10 trading days
Month 3
– Minimum Trading Days = 10 trading days
Month 4 & Onwards
– There are no minimum trading days required
KEY NOTES: A trading day is defined as a new trade placed on 10 separate days (this does not have to be consecutive).
Traders cannot bypass the minimum 10 trading day rule on their OnlyFunds account by executing 0.01 lot size trades until the minimum trading days have been met. Trades executed in this manner will be removed and will not be considered as an official trading day (by definition).
OnlyFunds are searching for skilled traders that can demonstrate consistency in their trading strategy. Executing one trade per day for instance/example, by opening and closing the trade within five minutes, especially when this behaviour is inconsistent with prior trading patterns (extending to the provision of trade volume, lot sizes, using a TP and/or SL etc.) merely to fulfill the minimum daily trading day requirement, does not establish a viable or sustainable trading strategy. This often occurs after profits have been made on previous trading days, showing a clear shift from the original trading plan. Trying to circumvent the system in this way is ineffective and will be detected – the rules for consistency are there for a purpose.
Maximum Daily Loss | 4%
The maximum daily loss/drawdown permitted is 4% of your initial balance from your previous day’s ending balance or equity (whichever is higher).
Your maximum daily loss is based on the account’s equity or balance (whichever is highest).
This will be recalculated at the end of each day (5:00pm EST server time).
Example:
If your initial account balance is $100,000, your max daily loss will be set at 4% ($4,000).
If your ending day balance or equity (whichever is higher) is $102,000, then your maximum daily loss limit for the new day will be $98,000.
Profits made throughout the trading day will not affect your daily loss limit equity level and will act as a buffer.
NOTE: Violating the maximum daily drawdown limit will result in an automatic failure/breach of your account. Subsequently, you will no longer be able to continue trading with that account.
Max Overall Loss | 8%
The maximum overall loss/drawdown permitted is 8% of your initial account balance.
Example:
If your initial account balance is $100,000, your max overall loss will be set at 8% ($8,000).
This means your account equity should never fall below $92,000 at any given time.
NOTE: Violating the maximum overall loss will result in an automatic failure/breach of your account. Subsequently, you will no longer be able to continue trading with that account.
There is no scaling plan available currently for HFT Accounts. Standard Accounts on the other hand offer a very attractive scaling plan.
We acknowledge that our HFT Accounts don’t offer as much flexibility as our Standard Accounts. This is because we allow High-Frequency Trading (HFT) during the evaluation phase/s, which can effectively manipulate the system and be passed quite easily.
News trading is NOT permitted once you become an OnlyFunds trader on our 2-Stage HFT account.
Traders are prohibited from executing new trades, modifying or closing trades 2 minutes before and 2 minutes after HIGH IMPACT news events. (Executing a trade includes opening or closing any pending order (such as a stop loss or take profit) or performing a market execution.)
Example:
If there is HIGH IMPACT news at 13:00, you can NOT open, close or modify trade’s’ between 12:58 – 13:02.
NOTE: This only applies to HIGH IMPACT news events shown on forex factory and also only applies to pairs which are relevant to the HIGH IMPACT news release.
Example:
If you have a trade open on EUR/USD and there is HIGH IMPACT news for JPY, you are not effected.
If you have a trade open on EUR/USD and there is HIGH IMPACT news for EUR or USD, you will then have to follow the news rule.
Executing a trade includes opening or closing any pending order (such as a stop loss or take profit) or performing a market execution.
NOTE: This is a Soft breach on 1st occasion with a warning. It is then a hard breach should this happen for a second time.
–
***Accounts purchased BEFORE 17th April 08:00am UK time***
News trading – (PERMITTED)
Trading high impact news is permitted for accounts purchased before 17th April 08:00am UK time.
–
No – We do not permit traders to hold or execute any trades on weekends for 2-Stage HFT account; even if the pair/instrument is tradable on weekends.
–
***Accounts purchased BEFORE 17th April 08:00am UK time***
Weekend Trading – You may hold your positions over the weekend but you are no longer allowed to place trades during the weekend period.
(Takes effect AFTER Monday 22nd April (00:01 UK time)
–
Trading with the use of an Expert Advisor (EA) is permitted. Please ensure that the EA being used does not require you to change your trading or investor password as this would result in an automatic breach/violation of your account.
Prohibited EA’s:
– High-frequency trading (HFT)
– Latency arbitrage
– Reverse arbitrage
– Hedge arbitrage
– Data feed manipulation
– Tick scalping
– Emulators
– Account management via a copy trader belonging to 3rd party
– Signal trading via a copy trader
NOTE: Using an Expert Advisor (EA) is permitted, however using a public or third-party EA may result in duplicated strategies amongst traders therefore violating our maximum allocation rule. By using a public or third party EA, you run the risk of being denied your payout and flagged for copy trading.
Yes – Martingale Strategy is allowed.
No – HFT is NOT permitted on your 2-Stage HFT OnlyFunds account.
There is no limit to the number of trades you can execute on any given instrument.
However, we strongly encourage all traders to review the trading rules thorougly to ensure they fully understand them before trading.
Hedge Trading
Hedging trades is permitted however, hedging separate accounts against each other (known as Wash Trading) is not permitted and is a direct violation of the OnlyFunds’ Terms and Conditions.
Wash trading is illegal and considered to be fraudulent, as it undermines the integrity of financial markets.
Swing Trading
Swing trading is permitted.
NOTE: holding trades over the weekend and throughout high impact news events, may place your account at risk due to market gaps, a change in market sentiment, unexpected news events or a lack of liquidity in the market.
Scalp Trading
Yes, we allow our traders to scalp their trades. Please ensure any scalp positions you execute you’re using proper risk management as if it were your own live account.
Copy Trading
Traders are allowed to copy trades from their personal accounts to any OnlyFunds account (or vice versa). However, you must be able to prove that the account you are copying to or from is under your name and the trades are of your own idea.
Traders are not allowed to copy trades to other people’s accounts. This extends to any account management and/or copy trading services. For both evaluation phases and OnlyFunds accounts, any trader that is identified to be using these services will result in the trader’s account being terminated.
Account Sharing or Account Sale
Trading accounts may not be shared or transferred from one owner to another for any purpose. This includes account resale. Such activities are strictly forbidden and will result in immediate termination of the account(s) in violation and a ban from our services as they are in violation of the OnlyFunds Terms of Use.
High-Frequency Trading (HFT)
High-frequency trading (HFT) is a type of algorithmic trading that uses advanced computer algorithms and high-speed connectivity to execute trades at extremely high speeds. HFT systems are designed to place a large number of trades in milliseconds, exploiting small price movements in financial markets. These systems use complex algorithms and data analysis to make rapid decisions on trade execution and can place and cancel orders within milliseconds, often generating profits from the difference between bid and ask prices.
Collusion Between Users
Collusion between users, also referred to as “layering” or “spoofing,” refers to a manipulative trading technique where individuals or a group work together to open multiple accounts with a financial institution and coordinate their trades in the same direction, whether to buy or sell, on a single asset across all accounts. This behavior constitutes market manipulation.
Hedging Across Multiple Accounts
Hedging the same asset across multiple accounts by trading in opposite directions (i.e.) buy/sell) is not permitted. In actual financial markets, the outcome of this strategy would result in a net profit of zero as the trader is protected from both upward and downward price movements. However, when trading through a prop firm, the trader incurs a loss on one account and generates a profit on the other, leading to risk-free gains. This goes against the principles of real financial markets and is a violation of compliance.
Use of a Delayed Data Feed
Using a delayed data feed means receiving market information with a lag, providing an advantage over other traders who have access to real-time market data. This results in an unequal playing field for traders who are relying on accurate, up-to-date information for their trades.
Prohibited Trading Summary
The strategies listed are the most frequently observed methods used to exploit demo accounts. This is not a comprehensive list, and other practices that violate our trading regulations may also exist. If any account is found to be using unfair strategies or engaging in unrealistic trading, they will not be approved for funding, and funded accounts may be terminated. It is important to note that all trading on our platform must be in compliance with the actual workings of the financial market.
We retain the right to investigate and discontinue access to our services for any strategy discovered to be inconsistent with real market conditions. We are looking for skilled traders that have sustainable, consistent trading strategies & incorporate proper risk management.
We acknowledge that our 2-Stage HFT Account rules are more stringent. This is because we allow High-Frequency Trading (HFT) during the evaluation phases, which can effectively manipulate the system and be passed quite easily.
It’s important to stipulate that OnlyFunds is focused on sustainability of the business ensuring long term commercial viability & that we can pay out traders that follow the rules.
OnlyFunds was established to identify traders who can demonstrate sustainable trading strategies and sound risk management, rather than engaging in gambling-like behaviors.
Please refer to the below schedule for the 2-Stage HFT Account consistency rules:
Month 1:
– 60% profit split
– 5% profit cap
– Trades must fall within the trade range (refer to the “Calculating Trade Range” section)
– No single trade can account for 50% or more of the total withdrawal/payout amount you request; For example, if you plan to withdraw $2,000, no single trade should represent $1,000 or more (refer to the “Definition Of A Single Trade” section)
– No single day’s profit can exceed 40% or more of the total withdrawal/payout amount you request; For example, if you plan to withdraw $2,000, no single day’s profit should represent $800 or more (refer to the “Daily Profit Threshold” section)
– Trades that generate profit but do not fall within the specified trade range will be excluded/removed from the withdrawal/payout total
– Minimum 10 trading days
Month 2:
– 70% profit split
– 5% profit cap
– Trades must fall within the trade range (refer to the “Calculating Trade Range” section)
– No single trade can account for 50% or more of the total withdrawal/payout amount you request; For example, if you plan to withdraw $2,000, no single trade should represent $1,000 or more (refer to the “Definition Of A Single Trade” section)
– No single day’s profit can exceed 40% or more of the total withdrawal/payout amount you request; For example, if you plan to withdraw $2,000, no single day’s profit should represent $800 or more (refer to the “Daily Profit Threshold” section)
– Trades that generate profit but do not fall within the specified trade range will be excluded/removed from the withdrawal/payout total
– Minimum 10 trading days
Month 3:
– 80% profit split
– 5% profit cap
– Trades must fall within the trade range (refer to the “Calculating Trade Range” section)
– No single trade can account for 50% or more of the total withdrawal/payout amount you request; For example, if you plan to withdraw $2,000, no single trade should represent $1,000 or more (refer to the “Definition Of A Single Trade” section)
– No single day’s profit can exceed 40% or more of the total withdrawal/payout amount you request; For example, if you plan to withdraw $2,000, no single day’s profit should represent $800 or more (refer to the “Daily Profit Threshold” section)
– Trades that generate profit but do not fall within the specified trade range will be excluded/removed from the withdrawal/payout total
– Minimum 10 trading days
Month 4:
– 80% profit split
NOTE: Per above, the consistency rules are removed from Month 4 onwards when a trader can demonstrate sustainable trading strategies and sound risk management. We also do offer a Standard Account option where the consistency rules do not apply.
Understanding a Single Trade in Trading:
The manner in which the trade is executed or any subsequent modifications do not alter it’s classification as a single trade.
Execution Variability:
Regardless of whether a trade involves a single large lot (e.g., 1 lot) or is divided into smaller segments (like two 0.5 lots), it is considered a single trade if placed atleast 30 seconds apart. Any trade placed within the same 30 seconds will be classed as one trade, combining the lot sizes into one. This only applies to the same pair and trading direction.
NOTE: If two trades are placed within 30 seconds of each other, they will be combined into one trade AFTER the average lot size and trade range is calculated.
Average Lot Size Rule = total lots traded divided by the total number of closed trade)
Max lot allowed = add 100% to the average lot size.
Min lot allowed = subtract -75% from the average lot size.
The trade range is calculated by adding 100% to your average trade size to establish the maximum limit and subtracting 75% to ascertain the minimum limit. For instance, if your average trade size is 10 Lots, trades within the range of 2.5 to 20 lots are deemed consistent with your average trade size. Trades outside this range are considered anomalies and will not contribute towards fulfilling the minimum trading days requirement.
NOTE: Trade ranges are calculated with all pairs/symbols combined (not individually by pair/symbol).
For the 2-Stage HFT OnlyFunds account, the Daily Profit Threshold is set at 40%.
This rule stipulates that the profit on any single day must not exceed 40% of the total profits accrued in your account.
Example: If your total withdrawal is $10,000, the the maximum profit you can achieve in a single day must not exceed $4,000.
If in the example above you have a single day which has generated $4,001 in profit, we would remove $4,001 from the total withdrawal.
The purpose of this rule is to encourage consistent trading behaviour and to prevent taking on excessive risk.
“OnlyFunds is a proprietary firm looking for skilled and accomplished traders to become part of our community.
We’ve created an evaluation process to identify skilled traders seeking an opportunity to trade with larger capital. Those who successfully pass the evaluation will unlock access to an OnlyFunds account, where they can manage funds remotely and increase the account’s value through our scaling plan. As a OnlyFunds trader, you will be able to retain up to 90% of the profits generated on the OnlyFunds account, subject to compliance with our Terms and Conditions.
We believe that all retail traders deserve the opportunity to secure larger amounts of capital based on their performance and dedication to their trading.
NOTE: All OnlyFunds trading accounts provided are demo accounts that simulate live market conditions. Traders are compensated and receive payment from OnlyFunds for the data they provide; this extends to the provision of profits (if any) generated on their demo trading accounts.”
“Becoming a funded trader is simple – to register and join our team of funded traders, follow the steps below.
1) Select the evaluation account size you wish to trade.
2) Go to checkout and proceed with payment for the evaluation.
3) Once payment for the evaluation has been processed, you’ll receive an email containing both your account credentials and logins to the OnlyFunds’ dashboard.
NOTE: It is essential that you familiarize yourself with the evaluation’s guidelines before commencing. In case of any uncertainty or confusion regarding the rules, please reach out to our support team for further explanation.
It is important to note that all funded accounts go through a KYC/AML screening process. To avoid delays in receiving your funded account, please ensure that you are able to provide a valid form of ID and proof of address that were issued within the last 90 days, if you are successful in passing the evaluation phase.”
“To join OnlyFunds, you must be 18 years or older. Due to regulatory conditions, we are unable to offer services with traders residing in the following countries:
Afghanistan, Burundi, Central African Republic, Congo Republic, Cuba, Crimea, Democratic Republic of Congo, Eritrean, Guinea, Guinea-Bissau, Iran, Iraq, Kosovo, Lebanon, Liberia, Libya, Myanmar, North Korea, Papau New Guinea, Pakistan, Somalia, Sudan, South Sudan, Syria, Vanuatu, Venezuela, Yeme, Zimbabwe.
NOTE: The provision of services is not extended to individuals who appear on sanction lists, possess criminal records associated with financial crime, terrorism, or have been previously prohibited due to breach of contract, with no allowances.
————————————— USA Update – 15th March 2024 —————————————
We’re excited to announce that we have expanded our platform offerings to include DXTrade, in addition to MetaTrader4 (MT4). This new platform is part of our ongoing efforts to enhance the trading experience for our clients. However, there are important updates regarding access for clients in the United States:
– New Platform Addition for US Clients: DXTrade is now available to new clients from the United States. This is in addition to our existing platform, MT4. However, it’s important to note that new clients from the United States will not have access to MT4. As a result, they will also not have access to HFT Accounts, as HFT functionality is currently exclusive to MT4 and is not available on DXTrade.
– No Change for Clients Outside the US: For clients interested in our services outside the US, there will be no change other than the addition of DXTrade to the platform options (clients can select either MT4 or DXTrade).
Our commitment remains steadfast to ensuring that OnlyFunds delivers value to all those across the world.
Due to regulatory conditions, we are unable to offer services with traders residing in the following countries: Cuba, Iran, North Korea, Myanmar, Russia (or the Crimea, Donetsk or Luhansk regions of Ukraine), Somalia and Syria.
USA Update – 20th February 2024
Unfortunately at present, we are also unable to extend our services to new clients in the United States due to certain market conditions and regulatory constraints. Our current US clients will NOT experience any disruption and can continue utilizing our services as usual – this restriction only applies to new clients.
NOTE: US citizens residing overseas who possess a valid resident ID may still continue to use OnlyFunds.
We are actively exploring options to make OnlyFunds accessible once more to individuals keen on trading within the USA.
For all other clients, partners, and those interested in our services outside the US, there will be no change, as this issue is specifically related to our operations within the US market. Our commitment remains to ensure that OnlyFunds delivers value to all those interested in trading, aiming to advance their trading journey & unlock their trading potential.
To join OnlyFunds, you must be 18 years or older.
NOTE: The provision of services is not extended to individuals who appear on sanction lists, possess criminal records associated with financial crime, terrorism, or have been previously prohibited due to breach of contract, with no allowances.
No – We do not currently permit account merging.
OnlyFunds has partnered with Eightcap to deliver a wide range of instruments available to trade which include: Forex, Commodities and Indices.
For more information please visit the below link: https://www.eightcap.com/en/trading/
OnlyFunds has partnered with Eightcap to deliver market-leading spreads and commissions.
Please log into the following account to view our spreads:
– Platform: MT4
– Acc number: 88907005
– Investor: 8umzwzE
– Server: Eightcap-Real-5
Below outlines leverage applicable across both HFT & Standard challenges/OnlyFunds accounts:
HFT:
– Challenges – 1:30
– OnlyFunds Account – 1:30
Standard:
– Challenges – 1:50
– OnlyFunds Account – 1:50
NOTE: The leverage we offer is designed to ensure both sustainability and risk management for our traders.
The maximum lot/order size per pair is 50 lots at any given time.
NOTE: Any trades placed which exceeds 50 lots will be removed when the account is reviewed.
We currently offer traders the ability to trade with either of the following platforms:
– MetaTrader 4 (MT4).
– DXTrade.
NOTE: Due to regulatory constraints, clients from the United States can only utilize DXTrade & are unable to utilize MT4.
This also means that HFT Accounts are NOT available to clients from the United States.
If you trade on MetaTrader 5 (MT5) but are still interested in becoming part of OnlyFunds, you can simply utilize a trade copier platform such as Social Trader Tool, Traders Connect or Duplikium.
For more information on MT4 and/or to download an MT4 terminal, please visit the below link:
https://www.eightcap.com/en/platforms/metatrader-4/
Once payment is complete, you’ll receive the logins for the trader dashboard and trading account within 10 minutes.
(please ensure you check your junk/spam folder).
If after 10 minutes you have not received your credentials and purchase confirmation, please contact our support team via the contact us page on our website.
Verification accounts may take up to 48 hours to process given we thoroughly review the account for compliance and any violations that may have occurred.
Please note that all trading accounts must be registered under the individual’s name due to Know Your Customer (KYC) regulations. This is essential for verifying identity and ensuring compliance with legal standards.
We accept all major credit/debit cards & crypto for purchases and withdrawals
If you wish to contact us please visit the “”Contact Us”” section on our website and fill the support request form out.
We aim to respond to all requests within 24hrs.
Your evaluation period will begin when you place your first trade which includes pending orders placed (even if the trade has not been executed).
NOTE: If your account is inactive for more than 30 days it will be disabled and forfeited.
Our Standard Evaluation consists of a 2-Stage Evaluation process:
Stage 1:
You will have unlimited calendar days from the date of the first executed trade or pending order.
Stage 2:
You will have unlimited calendar days from the date of the first executed trade or pending order.
Stage 1:
In order to pass Stage 1, you need to reach a profit target of 8%
Stage 2:
In order to pass Stage 2, you need to reach a profit target of 5%
NOTE: Once the profit target has been achieved, your account will be automatically disabled and moved onto the next stage.
Once you pass both evaluation phases and become an OnlyFunds trader, you will no longer need to meet any profit targets.
Stage 1:
In order to pass Stage 1, you need to trade a minimum of 3 trading days.
Stage 2:
In order to pass Stage 2, you need to trade a minimum of 3 trading days.
A trading day is defined as a new trade placed on separate days (this does not have to be consecutive).
Maximum Daily Loss | 5%
The maximum daily loss permitted is 5% of your balance from your previous day’s ending balance or equity (whichever is higher).
This will be recalculated at the end of each day (5:00pm EST server time).
Example 1:
If your initial account balance is $100,000, your max daily loss will be set at 5% ($5,000).
Example 2:
If your ending day balance or equity is $102,000, your maximum daily loss limit for the next day will be $96,900.
Profits made throughout the trading day will not affect your daily loss limit equity level.
NOTE: Violating the maximum daily drawdown limit will result in an automatic failure/breach of your account. Subsequently, you will no longer be able to continue trading with that account.
Max Overall Loss | 10%
The maximum overall loss/drawdown permitted is 10% of your initial account balance.
Example:
If your initial account balance is $100,000, your max overall loss will be set at 10% ($10,000).
This means your account equity should never fall below $90,000 at any given time.
NOTE: Violating the maximum overall loss will result in an automatic failure/breach of your account. Subsequently, you will no longer be able to continue trading with that account.
You can trade during news without any restrictions on both the stage 1 & 2 evaluation accounts and the OnlyFunds account.
NOTE: Due to increased volatility around high-impact news events, we encourage exercising extreme caution should you choose to trade during these periods.
For both the Challenge and Verification stages on 2-Stage Standard Accounts, you can trade provided the pair/instrument is tradeable on weekends.
Trading with the use of an Expert Advisor (EA) is permitted. Please ensure that the EA being used does not require you to change your trading or investor password as this would result in an automatic breach/violation of your account.
Prohibited EA’s
– Latency arbitrage
– Reverse arbitrage
– Hedge arbitrage
– Data feed manipulation
– Tick scalping
– Emulators
– Account management via a copy trader belonging to 3rd party
– Signal trading via a copy trader
NOTE: Using an Expert Advisor (EA) is permitted, however using a public or third-party EA may result in duplicated strategies amongst traders therefore violating our maximum allocation rule. By using a public or third party EA, you run the risk of being denied a funded account.
Yes, Martingale Strategy is allowed.
No, HFT is NOT allowed on Standard Accounts.
Hedge Trading
Hedging trades is permitted however, hedging separate accounts against each other (known as Wash Trading) is not permitted and is a direct violation of the OnlyFunds’ Terms and Conditions.
Wash trading is illegal and considered to be fraudulent, as it undermines the integrity of financial markets.
Swing Trading
Swing trading is permitted.
NOTE: holding trades over the weekend and throughout high impact news events, may place your account at risk due to market gaps, a change in market sentiment, unexpected news events or a lack of liquidity in the market.
Scalp Trading
Yes, we allow our traders to scalp their trades. Please ensure any scalp positions you execute you’re using proper risk management as if it were your own live account.
Copy Trading
Traders are allowed to copy trades from their personal accounts to any OnlyFunds account (or vice versa). However, you must be able to prove that the account you are copying to or from is under your name and the trades are of your own idea.
Traders are not allowed to copy trades to other people’s accounts. This extends to any account management and/or copy trading services. For both evaluation phases and OnlyFunds accounts, any trader that is identified to be using these services will result in the trader’s account being terminated.
Account Sharing or Account Sale
Trading accounts may not be shared or transferred from one owner to another for any purpose. This includes account resale. Such activities are strictly forbidden and will result in immediate termination of the account(s) in violation and a ban from our services as they are in violation of the OnlyFunds Terms of Use.
High-Frequency Trading (HFT)
High-frequency trading (HFT) is a type of algorithmic trading that uses advanced computer algorithms and high-speed connectivity to execute trades at extremely high speeds. HFT systems are designed to place a large number of trades in milliseconds, exploiting small price movements in financial markets. These systems use complex algorithms and data analysis to make rapid decisions on trade execution and can place and cancel orders within milliseconds, often generating profits from the difference between bid and ask prices.
Collusion Between Users
Collusion between users, also referred to as “”layering”” or “”spoofing,”” refers to a manipulative trading technique where individuals or a group work together to open multiple accounts with a financial institution and coordinate their trades in the same direction, whether to buy or sell, on a single asset across all accounts. This behavior constitutes market manipulation.
Hedging Across Multiple Accounts
Hedging the same asset across multiple accounts by trading in opposite directions (i.e.) buy/sell) is not permitted. In actual financial markets, the outcome of this strategy would result in a net profit of zero as the trader is protected from both upward and downward price movements. However, when trading through a prop firm, the trader incurs a loss on one account and generates a profit on the other, leading to risk-free gains. This goes against the principles of real financial markets and is a violation of compliance.
Use of a Delayed Data Feed
Using a delayed data feed means receiving market information with a lag, providing an advantage over other traders who have access to real-time market data. This results in an unequal playing field for traders who are relying on accurate, up-to-date information for their trades.
Prohibited Trading Summary
The strategies listed are the most frequently observed methods used to exploit demo accounts. This is not a comprehensive list, and other practices that violate our trading regulations may also exist. If any account is found to be using unfair strategies or engaging in unrealistic trading, they will not be approved for funding, and funded accounts may be terminated. It is important to note that all trading on our platform must be in compliance with the actual workings of the financial market.
We retain the right to investigate and discontinue access to our services for any strategy discovered to be inconsistent with real market conditions. We are looking for skilled traders that have sustainable, consistent trading strategies & incorporate proper risk management.
Grid Trading
Grid trading is a type of trading strategy that involves placing buy and sell orders at pre determined price levels to take advantage of both bullish and bearish market conditions. It involves creating a grid of multiple buy and sell orders, with the aim of capturing small price movements in both directions. The strategy aims to generate profits by accumulating positive price differences and minimizing negative ones, while avoiding large losses.
Account Sharing or Account Sale
Trading accounts may not be shared or transferred from one owner to another for any purpose. This includes account resale. Such activities are strictly forbidden and will result in immediate termination of the account(s) in violation and a ban from our services as they are in violation of the OnlyFunds Terms of Use.
High-Frequency Trading (HFT)
High-frequency trading (HFT) is a type of algorithmic trading that uses advanced computer algorithms and high-speed connectivity to execute trades at extremely high speeds. HFT systems are designed to place a large number of trades in milliseconds, exploiting small price movements in financial markets. These systems use complex algorithms and data analysis to make rapid decisions on trade execution and can place and cancel orders within milliseconds, often generating profits from the difference between bid and ask prices.
Collusion Between Users
Collusion between users, also referred to as “layering” or “spoofing,” refers to a manipulative trading technique where individuals or a group work together to open multiple accounts with a financial institution and coordinate their trades in the same direction, whether to buy or sell, on a single asset across all accounts. This behavior constitutes market manipulation.
Hedging Across Multiple Accounts
Hedging the same asset across multiple accounts by trading in opposite directions (i.e.) buy/sell) is not permitted. In actual financial markets, the outcome of this strategy would result in a net profit of zero as the trader is protected from both upward and downward price movements. However, when trading through a prop firm, the trader incurs a loss on one account and generates a profit on the other, leading to risk-free gains. This goes against the principles of real financial markets and is a violation of compliance.
Use of a Delayed Data Feed
Using a delayed data feed means receiving market information with a lag, providing an advantage over other traders who have access to real-time market data. This results in an unequal playing field for traders who are relying on accurate, up-to-date information for their trades.
Prohibited Trading Summary
The strategies listed are the most frequently observed methods used to exploit demo accounts. This is not a comprehensive list, and other practices that violate our trading regulations may also exist. If any account is found to be using unfair strategies or engaging in unrealistic trading, they will not be approved for funding, and funded accounts may be terminated. It is important to note that all trading on our platform must be in compliance with the actual workings of the financial market.
We retain the right to investigate and discontinue access to our services for any strategy discovered to be inconsistent with real market conditions. We are looking for skilled traders that have sustainable, consistent trading strategies & incorporate proper risk management.
Once you’ve successfully completed the Evaluation Process, your account will be subject to a review by our risk management team.
This is to ensure the account has not violated any of the OnlyFunds terms and conditions.
Once you have successfully completed the final phase, you are required to complete your KYC, which is located in the profile section of your trader dashboard. Following the approval of your KYC, we will dispatch the contract and provide you with the logins for your OnlyFunds account within 1-3 business days.
First Payout
Traders are eligible to receive their first payout 14 days after their first trade has been executed.
Future Payouts
After the first payout, traders are eligible to receive future payouts on a bi-weekly basis (every 14 days).
KEY NOTES:
To be eligible for a payout, all positions must be closed.
Once your withdrawal request is submitted, your account will be placed in read-only mode.
If you submit a withdrawal, regardless of whether your withdrawal is approved or denied, your payout cycle will reset – For example, you will need to wait another 14 calendar days before you are eligible for another withdrawal.
Your payout cycle only commences when you execute a trade i.e.) if you wait 10 days to execute your first trade after the account has been reset, you will be eligible for a payout 14 calendar days from the date that trade was executed.
After submitting your payout request, your account will be reviewed within 48 hours (business days only) and once approved, payment will be processed within three business days.
Trading will be temporarily suspended to allow the risk team time to review and evaluate trading performance. Once the request is approved, trading will be reinstated. The trader will then receive a payout approval confirmation email; the account at this time will be reset and they can recommence trading.
Yes. Minimum Withdrawal Amount Is $100.
Accounts will be automatically disabled if there is no trading activity for 30 days. A disabled account is considered a violation of the account rules, leading to forfeiture by the trader. Traders are responsible for familiarising themselves with the rules and conditions of their OnlyFunds accounts.
After completing the Evaluation (both the Challenge and Verification stages), your Evaluation refund will be processed together with the first payout of your OnlyFunds Account.
NOTE: Violating any of the OnlyFunds rules on your Funded Account before receiving your first payout will result in both the evaluation refund and any profits generated being forfeited.
Your account will subsequently be terminated and no longer eligible for funding.
For OnlyFunds Standard Accounts you will be eligible for an 80% profit split.
NOTE: If you meet the conditions of the OnlyFunds scaling plan, not only do we increase the balance of your Funded Account by 25%, but your payout ratio will also increase to 90%.
It is your responsibility to manage any taxes payable on your payouts inline with your country’s laws and regulations.
Once you become a funded trader with OnlyFunds, you will no longer need to meet any profit targets.
For Standard Accounts, there are no minimum trading days required.
The maximum daily loss/drawdown permitted is 5% of your initial balance from your previous day’s ending balance or equity (whichever is higher).
Your maximum daily loss is based on the account’s equity or balance (whichever is highest).
This will be recalculated at the end of each day (5:00pm EST server time).
Example:
If your initial account balance is $100,000, your max daily loss will be set at 5% ($5,000).
If your ending day balance or equity (whichever is higher) is $102,000, then your maximum daily loss limit for the new day will be $97,000.
Profits made throughout the trading day will not affect your daily loss limit equity level and will act as a buffer.
NOTE: Violating the maximum daily drawdown limit will result in an automatic failure/breach of your account. Subsequently, you will no longer be able to continue trading with that account.
The maximum overall loss/drawdown permitted is 10% of your initial account balance.
Example:
If your initial account balance is $100,000, your max overall loss will be set at 10% ($10,000).
This means your account equity should never fall below $90,000 at any given time.
NOTE: Violating the maximum overall loss will result in an automatic failure/breach of your account. Subsequently, you will no longer be able to continue trading with that account.
Overview
The scaling plan allows traders to increase the size of their funded account as a result of their consistent performance. Subsequently, payouts over time may increase due to the additional 25% capital added to their initial account balance.
Review Process
Funded accounts are reviewed every 3 months. A trader becomes eligible for a 25% increase in their account balance if profitable for at least 2 out of the last 3 months with either:
a) An average return of 6% over the 3 month period; or
b) A 2% return each month during the 3 month period.
The account will be scaled while awaiting withdrawal pending a manual review of the account by our risk management team.
Example 1 (Not Eligible):
Your payout date is on 5th March, and your 3 months mark for scaling is on 8th March.
In this example, you are not eligible for scaling yet, however your account will be scaled the following month.
Example 2 (Eligible):
Your payout date is on 19th March, and your 3 months mark for scaling was on 16th March.
In this example, you are eligible for scaling pending a manual review of the account.
If you believe you were eligible for scaling on your last payout but didn’t get scaled, please get in touch with our live support or reach out to us via email.
Scaling Plan Example – 3 x 25% Increases
25% Increase #1
– Initial Account Balance: $100,000
– 25% Increase of Initial Account Balance: $25,000
– New Account Balance: $125,000
25% Increase #2
– Initial Account Balance: $100,000
– 25% Increase of Initial Account Balance: $25,000
– New Account Balance: $150,000
25% Increase #3
– Initial Account Balance: $100,000
– 25% Increase of Initial Account Balance: $25,000
– New Account Balance: $175,000
Maximum Funded Account Potential
Traders must make at least 2 x withdrawals during the 3 month period. OnlyFunds allows 25% account increases up to a maximum balance allocation of $1.5M USD.
Example:
If you have 2 x $200k accounts, you can scale each of them to $750k (totalling $1.5M and equal to the maximum capital allocation permitted through the scaling plan).
Increased Profit Split
Once traders qualify for the scaling plan, they will also be eligible for a 90% payout split.
Yes – you can trade during news without any restrictions.
NOTE: due to increased volatility around high-impact news events, we encourage exercising extreme caution should you choose to trade during these periods.
We allow traders to not only hold their trades over the weekend but also place trades provided that the instruments are tradeable on weekends.
Trading with the use of an Expert Advisor (EA) is permitted. Please ensure that the EA being used does not require you to change your trading or investor password as this would result in an automatic breach/violation of your account.
Prohibited EA’s:
– High-frequency trading (HFT)
– Latency arbitrage
– Reverse arbitrage
– Hedge arbitrage
– Data feed manipulation
– Tick scalping
– Emulators
– Account management via a copy trader belonging to 3rd party
– Signal trading via a copy trader
NOTE: Using an Expert Advisor (EA) is permitted, however using a public or third-party EA may result in duplicated strategies amongst traders therefore violating our maximum allocation rule. By using a public or third party EA, you run the risk of being denied your payout and flagged for copy trading.
Yes, Martingale Strategy is allowed.
No, HFT is NOT allowed on your OnlyFunds account.
There is no limit to the number of trades you can execute on any given instrument.
However, we strongly encourage all traders to review the trading rules thorougly to ensure they fully understand them before trading.
Hedge Trading
Hedging trades is permitted however, hedging separate accounts against each other (known as Wash Trading) is not permitted and is a direct violation of the OnlyFunds’ Terms and Conditions.
Wash trading is illegal and considered to be fraudulent, as it undermines the integrity of financial markets.
Swing Trading
Swing trading is permitted.
NOTE: holding trades over the weekend and throughout high impact news events, may place your account at risk due to market gaps, a change in market sentiment, unexpected news events or a lack of liquidity in the market.
Scalp Trading
Yes, we allow our traders to scalp their trades. Please ensure any scalp positions you execute you’re using proper risk management as if it were your own live account.
Copy Trading
Traders are allowed to copy trades from their personal accounts to any OnlyFunds account (or vice versa). However, you must be able to prove that the account you are copying to or from is under your name and the trades are of your own idea.
Traders are not allowed to copy trades to other people’s accounts. This extends to any account management and/or copy trading services. For both evaluation phases and OnlyFunds accounts, any trader that is identified to be using these services will result in the trader’s account being terminated.
Account Sharing or Account Sale
Trading accounts may not be shared or transferred from one owner to another for any purpose. This includes account resale. Such activities are strictly forbidden and will result in immediate termination of the account(s) in violation and a ban from our services as they are in violation of the OnlyFunds Terms of Use.
High-Frequency Trading (HFT)
High-frequency trading (HFT) is a type of algorithmic trading that uses advanced computer algorithms and high-speed connectivity to execute trades at extremely high speeds. HFT systems are designed to place a large number of trades in milliseconds, exploiting small price movements in financial markets. These systems use complex algorithms and data analysis to make rapid decisions on trade execution and can place and cancel orders within milliseconds, often generating profits from the difference between bid and ask prices.
Collusion Between Users
Collusion between users, also referred to as “”layering”” or “”spoofing,”” refers to a manipulative trading technique where individuals or a group work together to open multiple accounts with a financial institution and coordinate their trades in the same direction, whether to buy or sell, on a single asset across all accounts. This behavior constitutes market manipulation.
Hedging Across Multiple Accounts
Hedging the same asset across multiple accounts by trading in opposite directions (i.e.) buy/sell) is not permitted. In actual financial markets, the outcome of this strategy would result in a net profit of zero as the trader is protected from both upward and downward price movements. However, when trading through a prop firm, the trader incurs a loss on one account and generates a profit on the other, leading to risk-free gains. This goes against the principles of real financial markets and is a violation of compliance.
Use of a Delayed Data Feed
Using a delayed data feed means receiving market information with a lag, providing an advantage over other traders who have access to real-time market data. This results in an unequal playing field for traders who are relying on accurate, up-to-date information for their trades.
Prohibited Trading Summary
The strategies listed are the most frequently observed methods used to exploit demo accounts. This is not a comprehensive list, and other practices that violate our trading regulations may also exist. If any account is found to be using unfair strategies or engaging in unrealistic trading, they will not be approved for funding, and funded accounts may be terminated. It is important to note that all trading on our platform must be in compliance with the actual workings of the financial market.
We retain the right to investigate and discontinue access to our services for any strategy discovered to be inconsistent with real market conditions. We are looking for skilled traders that have sustainable, consistent trading strategies & incorporate proper risk management.
There are no consistency rules applicable to Standard Accounts.
Join the OnlyFunds discord for updates, announcements, important information and trading community.
