Looking into OFP Funding offers a glimpse into the future of prop trading, where instant funded accounts and a commitment to trader success redefine what it means to trade with freedom and support.
Looking into OFP Funding offers a glimpse into the future of prop trading, where instant funded accounts and a commitment to trader success redefine what it means to trade with freedom and support.
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Pros
- Partnership with leading broker IC Markets.
- Instant funded accounts without evaluation phases.
- Flexible trading strategies accommodated.
- Opportunity to scale up to £5M with multiple accounts.
- Diverse array of financial instruments available.
Cons
- Profit share limited to 40%, below industry standard.
- Use of Expert Advisors (EAs) for automated trading prohibited.
- Some trading strategies might be restricted.
- Profit share might not appeal to all traders.
- Limited information on educational resources.
Launched in the UK during 2021, OFP Funding is a proprietary trading firm that stands out by offering instant funded accounts without the need for passing challenges or meeting profit targets. This initiative aims to provide traders of all levels the chance to trade up to £5 million risk-free. As each month passes, OFP Funding continues to attract an increasing number of traders, thereby broadening the horizons within the trading world. OFP Funding is celebrated for its commitment to flexibility and trader-centric approaches, offering three distinct trading methodologies. It’s recognized as one of the most transparent prop firms in the market, combining exceptional customer service, an intuitive dashboard for personal progress tracking, and a premier support system focused on its clientele.
About OFP Funding
OFP Funding emerged as a revolutionary proprietary trading firm, offering a refreshing alternative to the conventional prop firm model filled with challenges, verifications, and profit targets. Established with the belief that “Trading is difficult enough as it is; why make it harder?”, OFP Funding introduced true instant funding, a concept rarely seen in the prop firm industry. This innovative approach provides traders with accounts ranging from £5k to £100k, available in five different currencies, bypassing the common hurdles of difficulties or verifications. The core mission of OFP Funding is to support traders who lack the personal financial resources to risk but possess the dedication to build a prosperous trading enterprise. By offering significant initial capital and a leading pay-out rate, OFP helps traders steer clear of common pitfalls such as newbie mistakes, overleveraging, and overtrading. OFP values its community highly, ensuring traders’ voices are heard and their feedback is taken seriously. This is achieved through active engagement in Discord chats, various support channels, and regular content updates on social media platforms, all managed by a team of experienced traders. OFP’s commitment extends beyond the trading industry. In partnership with Operation Smile, a portion of the company’s annual profits is allocated to fund surgeries for children with cleft conditions, showcasing OFP’s dedication to making a positive impact in the world.
OFP Funding stands out in the prop trading sphere by offering instant funding accounts that bypass the traditional evaluation phases, including challenges, verification processes, or profit targets. This approach makes these accounts highly appealing to elite traders, as it empowers them with the freedom to choose an account that aligns with their trading strategy. With all accounts operating on a “demo” basis, traders can engage in trading activities without the fear of incurring actual losses.
Traders partnering with OFP Funding can opt for bi-weekly or monthly payouts, with a profit share of up to 40%, which is notably below the industry standard of approximately 90% offered by competitors like Instant Funding and ForexPropFirm.com. Despite this, OFP Funding remains attractive due to its innovative approach to trader empowerment and flexibility. Available account models include:
- 40% Instant Monthly Account (maximum of £100k)
- 26% Instant Monthly Account (maximum of £100k)
- 40% Instant Supercharged Account (maximum of £100k)
These demo accounts, ranging from £5k to £100k, are designed to both teach trading strategies and reward traders for their dedication and skill. It’s important to note that all OFP Funded accounts adhere to the same set of trading rules, with payouts scheduled either weekly or monthly.
Scaling Plan
OFP Funding allows traders to manage multiple accounts as long as the cumulative capital does not surpass £100,000. For those achieving a profit of more than 15% over four consecutive months, OFP offers a deposit bonus equal to 25% of the initial amount deposited into the trading account. This generous scaling plan can lead to a trader managing up to a maximum of £5 million, underlining OFP’s commitment to fostering trading talent and encouraging financial growth.
OFP Funding establishes specific trading rules aimed at protecting both the trader and the firm, ensuring a safe and professional trading environment. While minor infractions, such as not adhering to the 60-second trade opening and closing rule, may not result in account loss, they could impact profit calculations. More severe breaches, particularly those related to drawdowns and trading days, may lead to account suspension.
Daily and Total Drawdown
Strict drawdown limits are set to manage risk effectively. Daily drawdowns must not exceed 5% of the initial deposit, with each day starting at 00:00 GMT. Similarly, the total account balance cannot drop below 90% of the initial balance during the first month, and subsequent months have a 10% drawdown limit from the previous payout balance. Violations of these rules result in account closure.
Trading Days and Strategies
Traders must trade on a minimum of three days every seven days, with specific strategies allowed, including swing, scalping, and news trading, among others. However, the use of Expert Advisors (EAs) or any forms of cheating strategies will lead to account cancellation. Prohibited trading styles include gap trading, latency arbitrage, and several others that are considered unethical or unfair.
Copy Trading and Consistency
Copy trading is permitted only among OFP accounts, with prior approval from the support team required. While there is no explicit consistency rule, OFP Funding expects traders to practice prudent risk management to ensure that rewards are fairly earned through sustained profitability rather than high-risk tactics.
Monthly Payouts and Fees
Compliant traders receive monthly payouts of either 40% or 26% of the profits, depending on the account type, with no ongoing fees after the initial purchase. This policy underlines OFP Funding’s commitment to offering a lifetime account usage with the initial fee being the only charge.
Supercharged Payout
The supercharged payout model allows traders to increase their earnings progressively over a 4-week cycle, potentially earning up to 40% weekly. This innovative payout structure, alongside the absence of renewal fees and the lifetime account validity, highlights OFP Funding’s unique approach to fostering trading talent.
Key Features of Trading with OFP Funding
OFP Funding partners with IC Markets, one of the world’s leading trading brokers, to offer its traders unparalleled trading conditions. IC Markets is renowned for its regulatory compliance across multiple jurisdictions, ensuring a secure and reliable trading environment. The broker excels in providing tight spreads, low commission fees, and exceptionally fast trade execution speeds, which are critical for the success of trading strategies. With access to deep liquidity pools from various liquidity providers, OFP Funding ensures that traders consistently receive the best available prices for their trades. This advantage is complemented by industry-leading, 24/7 support, further enhancing the trading experience and support infrastructure available to OFP Funding’s traders.
Brokers
OFP Funding ensures its traders have access to the best trading conditions by partnering with IC Markets, a globally recognized broker. IC Markets is praised for its regulatory standards across multiple jurisdictions, offering features such as tight spreads, minimal commission fees, and swift trade execution. This broker also guarantees the best pricing through deep liquidity pools from various providers, supported by round-the-clock customer service.
Platforms
Traders at OFP Funding can choose between MT4 and MT5 platforms, with IC Markets as the primary broker. These MetaTrader platforms are widely regarded as the industry standard, boasting a user-friendly interface, vast arrays of trading tools, and full customization capabilities. They cater to both simple and advanced market analyses, supporting diverse chart types, timeframes, and order types, accommodating any trading strategy.
Instruments
OFP Funding offers a wide range of tradable financial instruments, including forex pairs, commodities, indices, bonds, and cryptocurrencies, with exceptionally tight spreads starting from 0.0 pips and leverage up to 1:100.
OFP Fidelity Points
The unique OFP Fidelity Points program rewards traders for their engagement and loyalty. Activities such as trading, social media engagement, and content creation earn points that can be redeemed for discounts or free accounts, enhancing the trading experience.
Dashboard
OFP Funding equips each trader with a personalized dashboard, offering a comprehensive view of their trading metrics such as balance, equity, drawdowns, and more. This dashboard is designed to optimize traders’ performance by providing essential information at a glance.
Education
In collaboration with OverviewFX, OFP Funding offers extensive educational resources for traders at all levels. These courses aim to enhance trading knowledge and skills, covering a broad spectrum of topics within the trading domain.
Prop Trading Blog
The OFP Funding blog serves as a platform for delivering valuable and exclusive content focused on trader development. It’s a free resource for traders seeking insights into the prop trading industry, offering guidance and knowledge enrichment.
Key Specifications
- Maximum capital: $1,000,000
- Profit split: 40%
- Scaling: Yes
- News trading: Yes
- Weekend trading: Yes
- Automated trading: No
- Free trial: No
- Maximum leverage: 1:100
OFP Funding presents a compelling proposition for traders seeking instant funded accounts. By partnering with IC Markets, one of the top brokerage firms, OFP offers exceptional trading conditions across a diverse range of financial instruments. Traders have the convenience of trading on demo accounts via MT4/MT5 and enjoy a portion of the profits earned. However, it’s noteworthy that the profit share capped at 40% is approximately half of what is typically offered in the industry. Despite this, the absence of a rigorous evaluation phase and the availability of various funded account options make OFP an attractive choice.
The initial cost is quite competitive, given the potential for profit through effective trading, judicious money management, and the leverage of 1:100. Additionally, the possibility of scaling up to manage a total capital of up to £5,000,000 with multiple accounts adds to its appeal. OFP Funding maintains a flexible stance on trading strategies, accommodating a wide array of trading styles within its guidelines and objectives. However, for those interested in automated trading using expert advisors (EAs), OFP Funding may not be the right fit, as EAs are not permitted. For traders seeking alternatives that support EAs, The 5%ers is another firm to consider. Despite these considerations, for anyone in search of instant funding options, OFP Funding merits serious consideration.
