OnlyFunds prop firm promises premier opportunities with industry benchmarks, dynamic challenges, and a collaborative community converge.
OnlyFunds : Exclusive Coupon Information
OnlyFunds doesn’t offer any discounts or coupons at this time.
Getting to Know OnlyFunds
OnlyFunds is a new prop firm and there is still some missing company and business information. The co-owners are Joel, Connor, and Darre and they are listed on the about us page on the OnlyFunds website. If you want to become a funded trader at OnlyFunds, you’ll need to pass an evaluation process first to prove you’re skilled enough.
What Trading Platforms DoesOnlyFunds Offer?
OnlyFunds offers only the MT4. MT4 trading platform is a beginner friendly platform with advanced trading tools.
Trading Instruments at OnlyFunds
OnlyFunds partnered with Eightcap, so they offer these assets:
- Forex
- Indices
- Commodities
Payment Methods at OnlyFunds
OnlyFunds accepts all major cards and crypto as payment options
Exploring Account Size Options at OnlyFunds
OnlyFunds has 5 different accounts: $25k, $50k, $100k, $200k, and $300k.
How OnlyFunds Shares Profits
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.
Setting the Bar: Profit Targets at OnlyFunds
Once you get a funded account at OnlyFunds, there are no profit targets. In the 1st stage for all account types, the profit target is set at 8%. The exception is the $25k HFT account with a 10% profit target. In the 2nd stage, the profit target is set at 5%.
Drawdown Rules and Loss Limits at OnlyFunds
5% is the maximum daily loss 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.
Number of Trading Days Allowed
3 days is the minimum trading days for standard accounts in both stages. HFT accounts have a 10 minimum days standard. There are no maximum trading days for standard accounts. The HFT accounts maximum trading days is 30 for the first phase, and 60 for the second phase.
Cost of Entry for OnlyFunds ‘s Challenge
| 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 Commissions: What to Expect at OnlyFunds
No information on fees and commissions.
Information on Refunds at OnlyFunds
You can only get a refund on Standard accounts, HFT accounts don’t get fee refunds. After you finish the evaluation process, the fee is refunded with your first payout minus the split percentage. Make sure you don’t break any OnlyFund rules before the first payout, because if you do, you won’t get refunded.
Free Trials
There are no free trials.
Payout Timeline at OnlyFunds
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.
Weighing the Pros and Cons of OnlyFunds (According to Trustpilot reviews)
- Fast Payouts
- Great Customer Service
- New firm with lack of detailed information
OnlyFunds FAQ Section
The minimum withdrawal amount is $100 USD
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.
