What is it?
OneUp Trader is an innovative company that offers aspiring traders the opportunity to get started in the financial market, providing the capital, tools and support necessary to begin trading.
OneUp Trader is what’s known as a funded trading account – where successful traders are provided with funded accounts, similar to TopStep Trader. Users don’t need a specific strategy – but there are a couple of rules that new traders must follow in order to pass the evaluation phase of the program.
It’s a great option for traders with good industry knowledge and effective strategies and who want to get started trading with decent capital. Like anything though, the platform comes with both pros and cons.
How much does it cost?
One of the best things about OneUp Trader – is you get to pick the plan that best suits you – and that will determine the size of the account you receive once you’re successful in the evaluation process.
These are the different options:
$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
If you consider yourself more of an ‘aspiring trader’ and are looking for a more entry level platform, it may be worth checking out a prop trading firm or the many funded trading stock accounts out there.
After choosing the account size, there are also pricing differences depending on whether you want to keep 50% or 80% of the profits from your trading.
How do I get started?
Before you can get a funded account with OneUp Trader, you have to go through a 15-day evaluation period, where you trade in a simulated environment. In order to pass – you must trade in a regular and consistent trading pattern that matches the platform’s guidelines.
The evaluation can happen on non-consecutive days – which can be beneficial if it’s occuring during a volatile period. The process involves a profit target that you must match, along with a few other guidelines to make sure everyone on the platform is trading at a high standard. The profit target will be determined by the account size you have chosen.
The great thing about OneUp Trader is that they’re very upfront with all the requirements. So you can have a read of these before getting started and make sure you’re across everything first.
Once you’re through and successful – the rules will stay the same but you’ll have access to more platforms to do your analysis and trading. You will however need to pay for those platforms, and those fees will be auto debited from your earnings that you make with your funded account.
It’s important to note – if you violate the rules – you need to go back to the beginning and start the evaluation all over again. So try and avoid it if you can!
Is OneUp Trader Easy to Use?
OneUp Trader has a strong social aspect to it, compared to some other platforms. This means traders can enjoy a mix of strong analytics and a strong sense of community as well. There is even a live community chat, where it’s possible to instant message other members.
The general layout and dashboard of the platform is quite user-friendly, and there are a variety of software platforms available for use, including:
Sierra Chart, Agena Trader, R | Trader Pro, Inside Edge Trader, R Investor, Motive Wave, MultiCharts, Photon, QScalp, ScalpTool, Track’n Trade, Trade Navigator, Volfix.net, eSignal, and Jigsaw Trading.
Some General Pros and Cons
OneUp Trader has a number of great features that make it stand out above the rest, including:
Low Subscription Fees: One of the most significant advantages of OneUp Trader is its low subscription fees. The fees are affordable, and traders can choose the account size that best suits their trading needs.
Access to Trading Capital: OneUp Trader provides traders with access to trading capital that may otherwise struggle to get their hands on. This is an excellent opportunity for traders who do not have enough capital to trade within their own funds.
Comprehensive Evaluation Process: OneUp Trader’s evaluation process is rigorous and ensures that traders have the necessary trading skills and risk management abilities. The evaluation process provides traders with feedback on areas that they need to improve, which helps them become better traders.
Strict Risk Management: OneUp Trader is focused on risk management and provides traders with strict risk parameters. These parameters help traders manage their risk more effectively and avoid blowing up their account.
OneUp Trader also has some cons that traders need to consider before signing up. These include:
High Trading Targets: OneUp Trader’s evaluation process has high trading targets that traders need to meet before getting funded. This can be challenging for traders who are new to trading.
Extra Fees: Traders may incur extra fees depending on the platforms they choose to use within the service.
No Refunds: OneUp Trader does not offer refunds for the monthly subscription fees. Traders who sign up must pay the full monthly subscription fee, even if they are not successful.
Is OneUp Trader right for me?
Overall, OneUp Trader is an excellent choice for traders on the more experienced side, who want to get funded and hit the markets.
The company provides traders with access to trading capital, risk management tools, and it’s all done through a user-friendly platform.
The monthly subscription fees are affordable, and the evaluation process ensures that traders have the necessary trading skills and risk management abilities.
It’s important any prospective traders assess the fees and rules involved with trading on the platform.
But on the whole – OneUp Trader is a fantastic option to help you get trading!
To get started with OneUp Trader – click here.