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OnlyFunds Review

OnlyFunds Review bestfxbrokers

Trading Platforms at OnlyFunds 

OnlyFunds offers MT4 as a trading platform. MT4 is a beginner friendly platform with advanced trading tools.

Range of Instruments by OnlyFunds 

OnlyFunds has partnered with Eightcap to deliver a wide range of instruments available to trade which include: Forex, Commodities and Indices. Eightcap is regulated by various government bodies. 

Below is the leverage across both HFT & Standard challenges/OnlyFunds accounts: 

This leverage structure is designed with a long-term perspective, promising  both sustainability and risk management for traders. 

Tradable InstrumentLeverage
Forex1:30 & 1:50 depending on the account type
Commodities1:30 & 1:50 depending on the account type
Indices1:30 & 1:50 depending on the account type

Commodities

XAG/USDXAU/USDXPD/USDXPT/USD
BRENTCLNGAS

Indices

ASXDAXDOWFTSE
STOXX50NSDQ SPNIKKEIHK50

Forex Pairs

AUD/CADAUD/CHFAUD/JPYAUD/NZDAUD/SGDAUD/USD
AUD/ZARCAD/CHFCAD/JPYCHF/HUFCHF/JPYCHF/ZAR
EUR/AUDEUR/CADEUR/CHFEUR/CZKEUR/GBPEUR/HUF
EUR/JPYEUR/MXNEUR/NOKEUR/NZDEUR/PLNEUR/RUB
EUR/SEKEUR/SGDEUR/USDEUR/ZARGBP/AUDGBP/CAD
GBP/CHFGBP/JPYGBP/NZDGBP/SGDGBP/USDGBP/ZAR
NOK/SEKNZD/CADNZD/CHFNZD/JPYNZD/SEKNZD/SGD
NZD/USDSGD/JPYUSD/CADUSD/CHFUSD/CZKUSD/HKD
USD/HUFUSD/ILSUSD/JPYUSD/MXNUSD/NOKUSD/PLN
USD/RUBUSD/SEKUSD/SGDUSD/ZARZAR/JPY

Payment Methods at OnlyFunds 

To pay your challenge account at OnlyFunds you will need a credit card or crypto.

Available Account Sizes at OnlyFunds Review 

There are 5 available accounts ranging from $25k-$300k. 

Profit Split Structure at OnlyFunds 

For 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.

Targeting Profits with OnlyFunds 

Once you become a funded trader with OnlyFunds, you will no longer need to meet any profit targets. In the first phase for all account types, the profit target is 8%. The exception is the $25k HFT account with a 10% profit target. In the second phase, the profit target is 5%.

Daily Loss and Drawdown Rules at OnlyFunds 

The maximum daily loss is 5% for Standard accounts. It’s 4% for HFT accounts. The maximum overall loss is set at 10% for Standard accounts and 8% for HFT accounts.

Minimum and Maximum Days for Trading at OnlyFunds 

For Standard accounts the minimum is 3 trading days in both phases. HFT accounts have a minimum of 10 trading days. There are no maximum trading days for Standard accounts. The HFT accounts maximum trading days are 30 days for phase 1 and 60 days for phase 2.

OnlyFunds Challenges

Account Size$25,000
Standard
$25,000
HFT
$50,000
Standard
$50,000
HFT
$100,000
Standard
$100,000 
HFT
$200,000 
Standard
$200,000
HFT
$300,000
Standard
$300,000
HFT
Steps2-step2-step2-step2-step2-step2-step2-step2-step2-step2-step
Price$149$250$299$350$499$499$999$999$1499$1499
Leverage1:501:301:501:301:501:301:501:301:501:30
Profit split80%1st split: 60/402nd split: 70/303rd split: 80/2080%1st split: 60/402nd split: 70/303rd split: 80/2080%1st split: 60/402nd split: 70/303rd split: 80/2080%1st split: 60/402nd split: 70/303rd split: 80/2080%1st split: 60/402nd split: 70/303rd split: 80/20
Phase 1 profit target8%10%8%8%8%8%8%8%8%8%
Phase 2 profit target5%5%5%5%5%5%5%5%5%5%
Phase 3 profit targetN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Max daily loss5%4%5%4%5%4%5%4%5%4%
Max total loss10%8%10%8%10%8%10%8%10%8%
Minimum trading days3days (Phase1&2)10days (Funded)3days (Phase 1&2)10days (Funded)3days (Phase 1&2)10days (Funded)3days (Phase1&2)10days (Funded)3days (Phase1&2)10days (Funded)
Maximum trading daysN/A30days (Phase 1), 60days (Phase 2)N/A30days (Phase 1), 60days (Phase 2)N/A30days (Phase 1), 60days (Phase 2)N/A30days (Phase 1), 60days (Phase 2)N/A30days (Phase 1), 60days (Phase 2)
Refundable fees (yes/no)YesNoYesNoYesNoYesNoYesNo
Free trial (yes/no)NoNoNoNoNoNoNoNoNoNo

Pricing for Challenges

Account Size$25,000
Standard
$25,000
HFT
$50,000
Standard
$50,000
HFT
$100,000
Standard
$100,000
HFT
$200,000
Standard
$200,000 
HFT
$300,000
Standard
$300,000
HFT
Price$149$250$299$350$499$499$999$1000$1499$1499

Fees and Commission Structure

Information is not available. 

Refund Conditions at OnlyFunds 

At OnlyFunds, you only get a refund on Standard accounts and after you finish the challenge successfully. Fee is refunded with your first payout. Make sure you don’t break any rules before the first payout since in that case, OnlyFunds is not obligated to refund.

Free Trials at OnlyFunds 

Free Trials are not available at OnlyFunds

How Often Does OnlyFunds Prop Firm Pay Traders?

Every 30 days you can request the payout of your profits. Standard time to process withdrawals is 24 – 72hrs. If they are checking the account data, this may take longer than 72h.

The Good and Bad of OnlyFunds 

Pros

  • Fast Payouts
  • Great Customer Service

Cons

  • New firm with lack of detailed information 

OnlyFunds FAQ

What is the Minimum Withdrawal Amount?

$100 USD

Is there a Profit Cap?

Yes, they have a 5% profit cap in place for the first 3 months. The Profit cap is based on the initial starting balance of your account. This means if you have a $100,000 account, the maximum you can withdraw would be $5000. Your profit split would then be deducted from this amount. 

If the profit made on the account is greater than the profit cap, it will simply not be counted and removed. Example: Account Size = $100k Profit Cap = 5% Profit Split = 60% Withdrawal Requested = $5000 (profit cap reached) Final Payment = $3000. The profit cap will only be removed after 3 successful withdrawals.

Is HFT Permitted?

No, HFT is not allowed on OnlyFunds.

Are EAs Allowed?

Trading with the use of an Expert Advisor (EA) is permitted.

Can you trade news?

Yes. News trading is allowed.

Are weekend trades allowed?

Yes. Trading and holding on weekends is permitted.


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