OnlyFunds is a relatively new prop firm. The owners are Darre, Joel, and Connor. Because it’s new in the industry, there’s not much information regarding the company background. OnlyFunds has an evaluation process you need to pass to become a funded trader.
Community Feedback for OnlyFunds
OnlyFunds has a 4.7-star rating on TrustPilot from 27 reviews, all of which are positive 5-star ratings. Users mainly appreciate the quick payouts.
Platforms Used by OnlyFunds for Trading
Currently, the only available trading platform at OnlyFunds is MT4. This platform is good for beginners because of its simplicity.
OnlyFunds: Instruments You Can Trade
Because OnlyFunds partnered with Eightcap, you can trade a wider range of instruments like Forex, Commodities, and Indices.
| Tradable Instrument | Leverage |
|---|---|
| Forex | 1:30 & 1:50 depending on the account type |
| Commodities | 1:30 & 1:50 depending on the account type |
| Indices | 1:30 & 1:50 depending on the account type |
Commodities
| XAG/USD | XAU/USD | XPD/USD | XPT/USD |
| BRENT | CL | NGAS |
Indices
| ASX | DAX | DOW | FTSE |
| STOXX50 | NSDQ SP | NIKKEI | HK50 |
Forex Pairs
| AUD/CAD | AUD/CHF | AUD/JPY | AUD/NZD | AUD/SGD | AUD/USD |
| AUD/ZAR | CAD/CHF | CAD/JPY | CHF/HUF | CHF/JPY | CHF/ZAR |
| EUR/AUD | EUR/CAD | EUR/CHF | EUR/CZK | EUR/GBP | EUR/HUF |
| EUR/JPY | EUR/MXN | EUR/NOK | EUR/NZD | EUR/PLN | EUR/RUB |
| EUR/SEK | EUR/SGD | EUR/USD | EUR/ZAR | GBP/AUD | GBP/CAD |
| GBP/CHF | GBP/JPY | GBP/NZD | GBP/SGD | GBP/USD | GBP/ZAR |
| NOK/SEK | NZD/CAD | NZD/CHF | NZD/JPY | NZD/SEK | NZD/SGD |
| NZD/USD | SGD/JPY | USD/CAD | USD/CHF | USD/CZK | USD/HKD |
| USD/HUF | USD/ILS | USD/JPY | USD/MXN | USD/NOK | USD/PLN |
| USD/RUB | USD/SEK | USD/SGD | USD/ZAR | ZAR/JPY |
Payment Options at OnlyFunds
OnlyFunds offers Crypto and all major credit cards as payment options.
Account Size Options in OnlyFunds
There are 5 different account sizes to choose from at OnlyFunds: $25k, $50k, $100k, $200k, and $300k.
Understanding Profit Splits at OnlyFunds
OnlyFunds offers a generous profit share to their traders. You keep 90% of the profit.
OnlyFunds Approach to Profit Targets
The Phase 1 profit target for all account types is 8%, except for the $25k HFT which is 10%. Phase 2 profit target is 5%.
Drawdown Rules and Daily/Max Loss Policy at OnlyFunds
The maximum daily loss for standard accounts at OnlyFunds is set at 5%, while for HFT accounts it is 4%. The maximum overall loss is 10% of the account balance for standard accounts, and 8% for HFT accounts.
Minimum and Maximum Trading Days at OnlyFunds
The minimum trading days for standard accounts is 3, for 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 is 30 for the first phase, and 60 for the second phase.
Step Challenges Available at OnlyFunds
At OnlyFunds, challenges have a 2-step process.
| Account Size | $25,000 Standard | $25,000 HFT | $50,000 Standard | $50,000 HFT | $100,000 Standard | $100,000 HFT | $200,000 Standard | $200,000HFT | $300,000Standard | $300,000HFT |
|---|---|---|---|---|---|---|---|---|---|---|
| Steps | 2-step | 2-step | 2-step | 2-step | 2-step | 2-step | 2-step | 2-step | 2-step | 2-step |
| Price | $149 | $250 | $299 | $350 | $499 | $499 | $999 | $999 | $1499 | $1499 |
| Leverage | 1:50 | 1:30 | 1:50 | 1:30 | 1:50 | 1:30 | 1:50 | 1:30 | 1:50 | 1:30 |
| Profit split | 80% | 1st split: 60/402nd split: 70/303rd split: 80/20 | 80% | 1st split: 60/402nd split: 70/303rd split: 80/20 | 80% | 1st split: 60/402nd split: 70/303rd split: 80/20 | 80% | 1st split: 60/402nd split: 70/303rd split: 80/20 | 80% | 1st split: 60/402nd split: 70/303rd split: 80/20 |
| Phase 1 profit target | 8% | 10% | 8% | 8% | 8% | 8% | 8% | 8% | 8% | 8% |
| Phase 2 profit target | 5% | 5% | 5% | 5% | 5% | 5% | 5% | 5% | 5% | 5% |
| Phase 3 profit target | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Max daily loss | 5% | 4% | 5% | 4% | 5% | 4% | 5% | 4% | 5% | 4% |
| Max total loss | 10% | 8% | 10% | 8% | 10% | 8% | 10% | 8% | 10% | 8% |
| Minimum trading days | 3days (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 days | N/A | 30days (Phase 1), 60days (Phase 2) | N/A | 30days (Phase 1), 60days (Phase 2) | N/A | 30days (Phase 1), 60days (Phase 2) | N/A | 30days (Phase 1), 60days (Phase 2) | N/A | 30days (Phase 1), 60days (Phase 2) |
| Refundable fees (yes/no) | Yes | No | Yes | No | Yes | No | Yes | No | Yes | No |
| Free trial (yes/no) | No | No | No | No | No | No | No | No | No | No |
Costs of Entry for OnlyFunds Challenges
| Account Size | $25,000 Standard | $25,000 HFT | $50,000 Standard | $50,000 HFT | $100,000 Standard | $100,000 HFT | $200,000Standard | $200,000 HFT | $300,000Standard | $300,000HFT |
|---|---|---|---|---|---|---|---|---|---|---|
| Price | $149 | $250 | $299 | $350 | $499 | $499 | $999 | $1000 | $1499 | $1499 |
Commissions and Fees at OnlyFunds
There is no available information regarding the fees and commissions at OnlyFunds.
Refund Options at OnlyFunds
The OnlyFunds refund policy states that you can get your refund only after you finish the evaluation process. The refund will be paid with the first payout. You won’t be refunded if you violate any rule before the first payout. The refundable fee is only available for Standard accounts, it’s non-refundable with HTF accounts.
Does OnlyFunds Offer a Free Trial?
OnlyFunds doesn’t have free trials.
Payment Frequency at OnlyFunds
30-day payment frequency after you get your funded account and trading profits.
OnlyFunds FAQ
The maximum capital is $600k in a funded account.
Is News Trading Allowed?
Yes. You can trade news at OnlyFunds.
What is the Standard Evaluation Start Time?
The evaluation starts the moment you place a trade.
Scaling Plan
Not available
