OANDA Joins the Prop Trading Industry With OANDA Labs Trader

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2023/02/OANDA-new-02-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/02/OANDA-new-02-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/02/OANDA-new-02-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/02/OANDA-new-02-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/02/OANDA-new-02-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/02/OANDA-new-02-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/02/OANDA-new-02-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/02/OANDA-new-02.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><blockquote><p><strong>Kurt vom Scheidt, OANDA’s Chief Operating Officer, stated:</strong> “Our program aims to empower adept traders by providing them with seamless access to global financial markets and a diverse array of asset classes.”</p></blockquote>
<p>He emphasised the company’s commitment to enabling traders to thrive in the financial markets.</p>
<p>Prospective traders at OANDA must complete an assessment test, similar to other prop trading platforms. The entry fee for this challenge ranges from $249 to $2,400, as listed on the company’s website. Depending on the level of the challenge undertaken, the funding can vary from $25,000 to $500,000.</p>
<p>Traders are required to achieve a 10% profit target in the first phase of the challenge and 5% in the second. Additionally, they must adhere to a daily loss limit of 5% and a maximum drawdown limit of 10%.</p>
<p>OANDA has clarified its business model, explaining that successful traders on the platform will function as signal providers. The company’s proprietary trading strategies will utilise these signals and other variables to inform OANDA’s market positioning.</p>
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<p>Though the capital in the OANDA Labs Trader account is virtual, actual market positions based on these signals will involve using OANDA’s proprietary capital, and profits will be shared with the traders.</p>
<p>Despite the allure of profit-sharing, it’s notable that a significant portion of revenue for most prop trading platforms comes from challenge fees, given the low success rate of such challenges. OANDA’s entry into this sector comes when prop trading is experiencing heightened demand, leading several brokers to introduce similar services.</p>
<p>Some have even rebranded their offerings to distance themselves from the traditional “prop trading” label due to the controversy surrounding the business model.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/forex/oanda-joins-the-prop-trading-industry-with-oanda-labs-trader/">OANDA Joins the Prop Trading Industry With OANDA Labs Trader</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>