OneUp Trader Review 2023
|By: Jeremy Biberdorf||Feb 21, 2023|
In a nutshell: OneUp Trader offers capital to traders who want to trade financial markets. OneUp is a prop trading firm that focuses on proprietary futures, though you can trade a variety of instruments and indices.
Through OneUp Trader you have access to your own funded trade account, from $25,000 to $250,000. With a one-step evaluation process, they aim to provide eligible traders with funded accounts quickly.
OneUp Trader has a strong track record. Whether it’s right for you, however, will depend on your trading experience and personal preferences. Keep reading for our comprehensive OneUp Trader review so you can see if it aligns with what you’re looking for.
|$25,000 Account | $125 per month|
$50,000 Account | $150 per month
$100,000 Account | $300 per month
$150,000 Account | $350 per month
$250,000 Account | $650 per month
|Funded trading accounts||7-day free trial|
- Live trading information and advanced analytics
- Supports many trading platforms
- No data fees unlike other prop trading firms
- Member-only forum community
- 7-day trial
- Additional fees for trading software
- Can get expensive if you have to repeatedly reset your account
- Internet-dependent service (market access required)
- Requires a tolerance for volatility and risk
- Sales pitches are a bit over the top
OneUp Trader Review 2023 | Is OneUp Trader Right for Me?
OneUp Trader provides funded trading accounts. Brokers that provide this service are sometimes known as “prop firms.” Working with a funded account can help aspiring traders make more money than they would otherwise, e.g. if they lack capital.
OneUp Trader is a leading prop firm that simplifies becoming a funded trader. They also encourage their traders to aim for a “slow and steady wins the race” trading mentality. This is refreshing compared to many other prop firms that play into the “get rich quick” perspective that leads to ruin for many aspiring traders.
If these values align with your own, and you would like to become a funded trader, then OneUp Trader may be a great option. Read on to learn more about how it works and a few of its key features.
How Does OneUp Trader Work?
OneUp Trader streamlines the evaluation process for would-be funded traders. Many other prop firms make this a complex process, but it’s relatively simple with OneUp.
First, you complete a one-step evaluation to get fully funded. You can then choose your funded trading account, om $25,000 to $250,00. From there, you will trade for 15-30 days to meet your profit target. Once you meet this target, you’ll receive placement with their funding partners.
Like most (if not all) prop firms, OneUp uses a trailing drawdown to assess performance. You must keep your account balance from hitting or exceeding this amount. As your account balance increases, the trailing drawdown will increase at a defined distance.
During the evaluation period, you must show consistent performance. For instance, any 3 days’ net profits must sum to at least 80% of the largest day’s net profit.
OneUp Trader Features
OneUp offers various features for its funded traders, including the following:
- Social Dashboard – This is where you can post and share with fellow funded traders. There’s also a live community chat.
- Advanced analytics – OneUp provides key analytics that help you stay on track and keep up with the market. This includes target goal metrics, in-depth visual statistics, daily updates, and more.
- Latest industry news – OneUp can be your go-to spot for everything you need to know, including economic calendars, streaming quotes and market news, market movers and shakers, and more.
- High payout ratio – When you start with OneUp Trader you receive a quick start bonus that means you keep 100% of your first $10,000 in profits.
OneUp Trader Pricing & Plans
OneUp Trader offers funded accounts from $25,000 to $250,000. For each one, there is an increase in your monthly fee. Besides this, there are no other fees except for if you need to reset your account.
Here’s a breakdown of each funded account’s monthly fee:
- $25,000 Account | $125 per month
- $50,000 Account | $150 per month
- $100,000 Account | $300 per month
- $150,000 Account | $350 per month
- $250,000 Account | $650 per month
Is OneUp Trader Worth It?
Trading with a OneUp Trader-funded account offers an array of benefits. You get to trade with substantial money and also have access to advanced analytics, educational resources, and a community of traders.
That said, using a funded account has its risks. You can lose your funding if you are unable to meet your profit goal or exceed the trailing drawdown. This can get costly as you have to reset your account each time (at a cost to you).
While OneUp Trader aims to simplify becoming a funded user, there are still plenty of rules to keep track of. This is why funded accounts are best suited for experienced day traders.
At the end of the day, it’s important to recognize the risks in using a prop firm such as OneUp Trader. If you can tolerate the risk and are confident in your ability to consistently earn profits day trading, then it may be a great option for you.
If nothing else, don’t worry about OneUp being a scam. It’s definitely a legit company with a strong track record, including a 4.7/5 rating on TrustPilot.
If you would like to check it out, click here to learn more and start your free trial.