We live in an era where proprietary trading firms reign supreme–and for good reason. Prop firms bring with them several key benefits.
Among these, the one that stands out the most would be how these firms provide you with capital. Essentially, prop trading firms are for traders who need a little help to get started.
And in addition to all the features that award prop firms with distinction, there is one platform that stands out among its competitors. In this OneUp Trader review, we’re going to show you how.
Founded in 2017, OneUp Trader is headquartered in Wilmington, Delaware. OneUp offers traders a remote trading program that is an excellent way for experienced and new traders to get the required capital to trade.
Additionally, the platform aims to provide traders with an environment that is conducive to trading success. The firm offers traders excellent educational resources, flexible trading conditions, risk management strategies, and cutting-edge trading technology.
The firm has designed a structured and holistic approach to prepare traders to trade successfully. One of the best prop trading firms out there, OneUp Trader allows traders to trade forex, futures, equities, cryptocurrencies, stocks, and options.
Furthermore, the firm encourages traders to practice risk management and sharpen trading strategies through its innovative funding model.
OneUp Trader develops traders' skills by designing the trading challenge to test traders' trading skills and risk management abilities. On successful completion of the challenge, traders receive a funded account ranging from $25k to $250k.
OneUp Trader is similar to every single prop firm that’s worth your time in one respect–it comes with an evaluation process. This process will vary depending on your specific trading style and your preferred market, however, it will entail a few things.
For example, OneUp Trader will provide a set of parameters–such as a drawdown limit and a specific profit target. Once you pass this evaluation, you will be eligible for a funded account.
This is the usual case for prop trading firms so how does OneUp Trader stand out specifically?
OneUp Trader has attracted a large following since its birth in 2017. Therefore, the platform clearly has a few things going for it. Here are a few:
For example, you get to keep 100% of your first $10k profit.
You won’t be hindered from withdrawing what you want when you want.
Traders have the opportunity to test the platform out before signing the bottom line.
Once you do sign the bottom line, that’s it. You won’t have to worry about an unknown charge coming up a month later.
The only other platform that comes to mind in this regard is SurgeTrader. Thus, the OneUp evaluation process is as straightforward as it gets.
OneUp Trader has a conducive and supportive trading environment, which facilitates traders to concentrate solely on trading. A summary of the trading environment includes:
OneUp Trader is an all-inclusive platform that provides traders with comprehensive educational resources that include courses, videos, webinars, manuals, and articles to help traders develop their trading skills.
Additionally, the educational resources are categorized according to the trader’s level of expertise and include lessons on strategies, risk management, and technical and fundamental analysis.
Traders can see what they’ve learned by reviewing their progress through the assessment questions available.
OneUp Trader emphasizes risk management and the trading challenge is designed to evaluate traders' risk management strategies.
The trading rule set includes specific risk parameters that traders must follow to manage risk effectively. Traders are also encouraged to use stop-loss orders to minimize risks and ensure that they have a plan in place to exit a trade when market conditions change.
OneUp Trader's funding model provides traders with the freedom to trade the markets that suit their risk tolerance level. Traders can choose the type of market, leverage, and contracts to trade.
Additionally, OneUp Trader offers traders different funding levels, with traders having to meet specific milestones before they can proceed to the next funding level.
OneUp Trader teaches traders a combination of technical and fundamental analysis strategies. The firm emphasizes the importance of having a trading plan and sticking to it. Some of the strategies that OneUp Trader encourages traders to use include:
The moving average crossover strategy involves using two moving averages–a faster-moving average and a slower-moving average. When the faster-moving average crosses above the slower-moving average, traders interpret it as a buy signal, and when it crosses below, it's a selling signal.
The breakout strategy involves identifying key support and resistance levels and waiting for the price to break through either one of them. Thus, when the price breaks above resistance or below support, traders interpret it as a potential upward or downward trend.
Scalping is a short-term trading strategy that aims to catch small movements in the market.
Scalpers keep trades open for a few seconds to a few minutes and make profits from small price movements. This strategy can be highly profitable, however, traders need to have good timing and risk management to make it work effectively.
OneUp Trader is an excellent option for traders of all levels who are looking to build proprietary trading into their lifestyle.
It’s not a bad gig and it would be difficult to find a better platform to get started with. If you believe OneUp Trader could be for you, click here to find out.