Oanda Prop Trader - Prop Firm Review
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- Discontinued — acquired by FTMO and wound down into FTMO by 31 March 2026; no longer accepting new traders
- Was a two-step simulated forex/CFD assessment run under OANDA, the regulated retail broker (Malta assessment entity)
- Distinctive: one of very few prop products backed by a large, multi-jurisdiction regulated broker
- Historical terms: 8%/5% targets, 5% daily / 10% max drawdown, a daily max-profit cap; flat 80% split (Boost to 90%)
- Did not accept US traders. Successor is FTMO. No CTA
ℹ Status: discontinued - OANDA Prop Trader has been folded into FTMO. FTMO acquired OANDA (completed December 2025) and, on 2 March 2026, announced it was transitioning the OANDA prop-trading business into FTMO, with the process concluding 31 March 2026. OANDA no longer runs a standalone prop program - its prop pages now redirect to ftmo.com, and existing traders were offered migration to FTMO (or refunds where applicable). This was an orderly corporate transition, not a collapse. If you’re looking for this product today, the successor is FTMO. The details below are kept for reference.
Table of contents
TL;DR: OANDA Prop Trader in 30 seconds
- Status: discontinued. Acquired by FTMO and wound down into FTMO by 31 March 2026 - no longer accepting new traders. Everything below is historical.
- What it was: a two-step, simulated forex/CFD assessment run under the umbrella of OANDA, the long-established regulated retail broker (assessment entity in Malta).
- The distinctive part: it was one of very few prop products run by a genuinely large, multi-jurisdiction regulated broker, on OANDA’s own pricing and platform.
- Terms: 8% then 5% targets (Classic), a 5% daily loss limit and 10% max drawdown, plus an unusual daily max-profit cap during the challenge.
- Split & payouts: flat 80% on Classic (Boost rose to 90% after the first payout), bi-weekly, with the challenge fee refunded on your first payout.
- Bottom line: a credible, broker-backed product in its day - now superseded by FTMO. Not available to buy as “OANDA Prop Trader” anymore.
Last reviewed: 15 July 2026. We confirmed via OANDA’s own announcements that the prop product was transitioned into FTMO and its pages now redirect to ftmo.com. Details below reflect the product as it operated before the wind-down.
Pricing snapshot
CFD pricing
| Program | Account size | Price | Billing | Notes |
|---|---|---|---|---|
| Listed challenge | $10K | USD 90 | One-time | Migrated from existing JoinProp product price field. |
| Listed challenge | $200K | USD 990 | One-time | Migrated from existing JoinProp product price field. |
Status: discontinued and migrated to FTMO
OANDA Prop Trader is no longer a standalone product. After FTMO acquired OANDA (completed December 2025), OANDA announced in March 2026 that it was transitioning its prop-trading business into FTMO, a process that concluded on 31 March 2026. Its former marketing pages now redirect to ftmo.com, and active traders were offered migration incentives to move to FTMO or refunds where applicable. This is worth stating plainly because it’s an unusual, notable story: rather than a broker adding a prop arm, the world’s best-known prop firm bought its own broker and absorbed the prop clients. If you came here to sign up for OANDA Prop Trader, that’s no longer possible - the successor is FTMO. The rest of this review documents how the product worked while it operated.
What it was (historical)
OANDA Prop Trader (launched in early 2024) was a simulated forex/CFD assessment operated by OANDA Assessments Limited in Malta, part of OANDA Global Corporation. You traded FX, gold and metals, plus CFD indices and commodities, on OANDA’s own web platform using its real institutional pricing (spreads from zero, a small round-turn commission). Access ran through OANDA’s BVI-regulated Global Markets division, so the product was not available to US traders. The prop assessment itself wasn’t a regulated financial service - funds were virtual and you were effectively a signal provider - but it sat under a genuinely large, 30-year-old regulated broker, which was the whole point of its pitch.
The feature that defined it: a real regulated broker behind the prop product
Almost every prop firm is an unregulated startup. OANDA Prop Trader was one of the rare exceptions - it ran on the pricing, liquidity and infrastructure of OANDA, a broker regulated across the US, UK, Australia, Singapore, Canada and more (though the specific assessment entity was an unregulated Malta company, and the challenge was simulated). That broker parentage gave it a credibility most challenge firms couldn’t claim. The twist that now defines its story is the reverse consolidation: instead of the broker growing a prop arm, FTMO acquired OANDA outright and moved the prop clients into FTMO while keeping OANDA as a pure brokerage - a genuinely novel structure in this industry, and the reason this page is now a status note rather than a live recommendation.
How it worked (for reference)
It was a two-step assessment (no one-step or instant funding), in Classic ($5K-$500K) and Boost ($10K-$100K) families. Classic targets were 8% then 5%; Boost 10% then 5%. There was a 5% daily loss limit and a 10% maximum drawdown (trailing on Classic, static on Boost), plus an unusual daily max-profit cap - you couldn’t book more than 5% in a day during Phase 1 (2% in Phase 2), which auto-closed positions for the day. The profit split was a flat 80% on Classic (Boost paid 80% on the first payout, then 90%), paid every 14 days, with the challenge fee refunded on your first payout. News trading was restricted around high-impact events, and 20 days of inactivity was a hard breach.
Bottom line
In its time, OANDA Prop Trader was a credible, broker-backed choice with transparent (if fairly strict) rules. But it no longer exists as a standalone product: it has been merged into FTMO. Anyone researching it today should look at FTMO as the successor. We’re keeping this page as an accurate status record rather than a live sign-up guide.
Frequently Asked Questions
Is OANDA Prop Trader still available?
No. Following FTMO’s acquisition of OANDA, completed in December 2025, OANDA announced in March 2026 that it was transitioning its prop-trading business into FTMO, with the process concluding on 31 March 2026. The former prop pages now redirect to ftmo.com, and it no longer accepts new traders as a standalone product. The successor is FTMO.
What happened to OANDA Prop Trader traders?
Existing traders were offered incentives to migrate to the FTMO platform, or refunds where applicable, as part of an orderly transition rather than a collapse. This was a corporate wind-down driven by FTMO’s acquisition of OANDA, not a payout failure or scam.
What was distinctive about OANDA Prop Trader?
It was one of very few prop products run under the umbrella of a large, multi-jurisdiction regulated broker, OANDA, using the broker’s own institutional pricing and platform. That broker parentage gave it credibility most challenge firms lacked, although the specific assessment entity was an unregulated Malta company and the trading itself was simulated.
What were OANDA Prop Trader’s rules and split?
It was a two-step simulated assessment. Classic targets were 8% then 5%, with a 5% daily loss limit, a 10% maximum drawdown and an unusual daily max-profit cap of 5% in Phase 1. The profit split was a flat 80% on Classic, with Boost rising to 90% after the first payout, paid bi-weekly, and the challenge fee refunded on the first payout.
Did OANDA Prop Trader accept US traders?
No. Access ran through OANDA’s BVI-regulated Global Markets division, which does not onboard US retail clients, so US traders were not accepted. Since the product has now been folded into FTMO, anyone in the US or elsewhere researching it should look at FTMO and its own eligibility rules instead.
OANDA Prop Trader has been discontinued and merged into FTMO (transition completed 31 March 2026). It is no longer available to buy as a standalone product.
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