OFP Funding Review 2024: : Everything You Need to Know Before Signing Up

OFP Funding is a popular prop trading firm, meaning it provides capital to online traders. Funding amounts initially range from $5,000 to $200,000, and supported markets include forex, commodities, indices, and bonds.

This OFP Funding review is a must-read if you’re considering the platform. We cover all important metrics, including upfront fees, evaluation requirements, drawdown limits, profit splits, and safety.

What Is OFP Funding?

OFP Funding is a proprietary trading firm (or prop trading firm) that provides traders with capital. It’s aimed at skilled traders who need to boost their trading bankroll by providing instant funding. Unlike many prop firms, OFP Funding offers “no evaluation” accounts. This means trading challenges aren’t needed to qualify. Instead, traders pay an upfront fee, which depends on the funds required.

Fees also vary depending on the drawdown limit, profit split, and payout frequency. Traders can choose their preferred parameters, which is a great feature. For example, drawdown limits range from 3% to 5%, while the profit split covers 26%, 40%, 60%, and 80%. Payout frequencies include on-demand, bi-weekly, and monthly.

Traders can choose their preferred platform from Match-Trader, cTrader, and TradeLocker. Supported markets include major, minor, and exotic forex pairs, commodities, indices, and bonds. Most strategies are supported, such as scalping, day trading, and trend trading. However, arbitrage, martingale, and hedging are prohibited.

How Does OFP Funding Work?

All accounts at OFP Funding are “no evaluation,” so you won’t need to complete challenges to qualify. This is in contrast to many prop firms. Instead, you will need to pay an upfront fee, which is based on multiple parameters.

As mentioned, this is based on the funding required, drawdown limit, profit split, and payout frequency.  All of these metrics can be customized.

Let’s opt for a quick example to highlight the point:

• Funding Amount: $50,000
• Max Daily Drawdown: 4%
• Profit Split: 60%
• Payout: Monthly

The above account would require an upfront payment of $231.94. Paying this fee provides immediate access to $50,000 in trading capital.

Any profits you make benefit from a 60% split, and the payouts are made monthly.

• So, suppose you make a 10% profit in the first month.
• That’s $5,000 profit on the $50,000 capital provided.
• You keep 60%, which is $3,000
• That $3,000 is transferred to your bank account

Now, even the best prop firms have drawdown limits. OFP Funding is no different. As per the above, we selected a maximum daily drawdown of 4%.

Put simply, this means you can’t lose more than 4% of the provided capital in any one day. On $50,000, that’s a maximum 24-hour loss of $2,000.

Breaching this limit means your funding is revoked. This is why many traders lose money when using prop firms. It’s crucial to have risk management practices in place. This will. give you the best chance possible of keeping within the permitted limits.

How is OFP Different From Other Funded Trader Programs?

In this section of our OFP Funding review, let’s compare the prop firm to its leading competitors:

As you can see from the above table, OFP Funding offers higher capital amounts than its competitors. It also offers rock-bottom fees, with charges starting from just $18.25.

Available Funding Programs

All programs at OFP Funding provide instant capital. However, traders must choose their preferred metrics, which directly impacts the initial fee.

Here is the full list of parameters:

Payouts

• Monthly
• Bi-weekly
• On-demand

Account Size

• $5,000
• $10,000
• $25,000
• $50,000
• $100,000
• $200,000

Maximum Daily Drawdown

• 3%
• 4%
• 5%

Profit Split

• 26%
• 40%
• 60%
• 80%

Naturally, OFP Funding fees increase as the parameters become more favorable. For example, opting for a 5% drawdown and 80% profit split will cost more than 3% and 26%, respectively.

Similarly, opting for on-demand payouts is more expensive than a monthly frequency. You can easily play around with the parameters, as the fees are immediately displayed.

Do note that all accounts have common denominators. For example, the maximum total drawdown is 8%, while leverage is capped at 1:100.

Profit Share at OFP Funding

Like most trading metrics, OFP Funding enables traders to choose their profit share. That’s either 26%, 40%, 60%, or 80%. Once again, the higher the profit share the more expensive the upfront fee.

For example, let’s say you opt for a $10,000 funded account. You also choose monthly payouts and a 5% maximum daily drawdown.

Here’s how the fee changes based on the profit split:

• 26%: $61.80
• 40%: $92.40
• 60%: $125.40
• 80%: $166.20

In our view, the 80% profit split is by far the most valuable option. You should only be using prop firms if you strongly believe you’ll make consistent gains. And, with this in mind, it makes sense to maximize the profits generated.

For instance, suppose you make 20% in the first month. The trading account size is $10,000, so that’s a $2,000 profit.

If you opted for the 26% share at $61.80, you’d only receive $520. Conversely, if you went for the 80% share at $166.20, you’d receive $1,6000. This is a huge difference, especially considering the increase in upfront fees is modest.

What Instruments Can You Trade with OFP?

In this section of our OFP Funding review, we cover available asset classes and instruments. This is crucial, as you should only choose a prop firm if it supports your preferred financial markets.

Forex

The most popular asset class at OFP Funding is forex. It supports all major and minor forex pairs, plus a solid range of exotics.

Here’s the full list of supported forex markets:

Majors

• EUR/CHF
• EUR/GBP
• EUR/JPY
• EUR/USD
• GBP/JPY
• GBP/USD
• USD/CHF
• USD/JPY

Minors

• AUD/CAD
• AUD/CHF
• AUD/JPY
• AUD/NOK
• AUD/NZD
• AUD/SEK
• AUD/USD
• CAD/CHF
• CAD/JPY
• CHF/DKK
• CHF/JPY
• CHF/NOK
• CHF/PLN
• EUR/AUD
• EUR/CAD
• EUR/NOK
• EUR/NZD
• EUR/PLN
• EUR/SEK
• GBP/AUD
• GBP/CAD
• GBP/CHF
• GBP/DKK
• GBP/NOK
• GBP/NZD
• GBP/PLN
• GBP/SEK
• NOK/JPY
• NOK/SEK
• NZD/CAD
• NZD/CHF
• NZD/JPY
• NZD/USD
• SEK/JPY
• USD/CAD
• USD/DKK
• USD/HKD
• USD/NOK
• USD/PLN
• USD/SEK

Exotics

• AUD/SGD
• CHF/SGD
• EUR/HKD
• EUR/HUF
• EUR/MXN
• EUR/SGD
• EUR/TRY
• GBP/SGD
• GBP/ZAR
• HKD/JPY
• MXN/JPY
• NZD/SGD
• SGD/JPY
• TRY/JPY
• USD/CNH
• USD/CZK
• USD/HUF
• USD/MXN
• USD/RUB
• USD/SGD
• USD/TRY
• USD/ZAR
• ZAR/JPY

Commodities

OFP Funding also supports the most popular commodities, including metals and energies.

Here’s the full list of supported commodity markets:

Metals

• XAG/EUR (Silver vs Euro)
• XAG/USD (Silver vs US Dollar)
• XAU/EUR (Gold vs Euro)
• XAU/USD (Gold vs US Dollar)
• XPD/USD (Palladium vs US Dollar)
• XPT/USD (Platinum vs US Dollar)

Energies

• UKOIL.C (Crude Oil Brent Cash)
• USOIL.C (West Texas Intermediate Crude Oil Cash)
• WTI_OIL (West Texas Intermediate Crude Oil Cash)

Indices

OFP Funding also supports a wide selection of global indices. Some are traded as cash indices while others are backed by futures.

Here’s the full list of supported indices markets:

• AUS200 (Australia 200 – Australia)
• CHINAH (China H-Shares – China)
• DE40 (Germany 40 – Germany)
• DJ30 (Dow Jones 30 – United States)
• DX (Dollar Index – United States)
• ES35 (Spain 35 – Spain)
• EURUSD (Eurodollar – United States)
• F40 (France 40 – France)
• HK50 (Hang Seng Index – Hong Kong)
• IND50 (India 50 – India)
• JP225 (Nikkei 225 – Japan)
• NE25 (Netherlands 25 – Netherlands)
• STOXX50 (Euro Stoxx 50 – Eurozone)
• SWI20 (Switzerland 20 – Switzerland)
• SING (Singapore Index – Singapore)
• UK100 (FTSE 100 – United Kingdom)
• US2000 (Russell 2000 – United States)
• US500 (S&P 500 – United States)
• USTEC (NASDAQ 100 – United States)
• VIX (Volatility Index – United States)

Bonds

A selection of government bonds from multiple central banks can also be traded.

Here’s the full list of supported bond markets:

• Euro Bobl
• Euro Bund
• Euro Schatz
• BTP Italian Bonds
• Japanese 10 YR
• UK Long Gilt
• US 5 YR T-Note
• US 10 YR T-Note
• US T-Bond (30 Year)

Overview of Supported Markets

Which Broker Does OFP Use?

According to multiple sources, OFP Funding has partnered with Thunder Markets. It’s a popular trading platform that specializes in contracts-for-differences (CFDs).

Thunder Markets was launched in 2022 and is based in the Seychelles. It offers two account types, which determine the commissions and spreads paid.

These are the same fees you pay when using OFP Funding. The section below takes a closer look at the two account types and their respective charges.

OFP Trading Fees & Commissions (via Thunder Markets)

The Classic account offers spreads from 2 pips on EUR/USD, which is above the industry average. However, you won’t be required to pay commissions. Alternatively, you get spreads from 0.0 pips and pay an $8 commission per slide.

The Thunder account also offers spreads from 0.0 pips but the commission is lower at $3 per slide. Or, you can avoid the commission and pay a minimum spread of 0.7 pips.

Crucially, the decision will be based on your proposed trading volume. Those placing large orders should opt for a commission-based plan on the Thunder account. Conversely, more casual traders might be better suited for a no-commission plan on the Classic account.

Non-Trading Fees

According to the OFP Funding help center, the only fee to be aware of is when requesting a payout.

Crypto and bank transfer withdrawals are fee-free. However, payments via Rise cost $50.

Features, Analysis & Trading Tools

We’ll now discuss OFP Funding’s core features and trading tools.

Available Trading Platforms

OFP Funding supports some of the best day trading platforms, including;

• Match-Trader
• cTrader
• TradeLocker

These platforms support a wide range of trading features, such as technical and economic indicators, drawing tools, and customizable charts.

That said, OFP Funding doesn’t support MT4 or MT5, which could be a drawback for traders used to these platforms.

Leverage

Our OFP Funding review found that traders can deploy leverage of up to 1:100. This means trading positions can be amplified by 100 times. For example, suppose you risk $100 on an EUR/USD trade. At 100x leverage, this increases the trade size to $10,000.

However, do note that leverage limits depend on the asset. Major forex pairs offer the maximum leverage, while minors, commodities, and indices come with lower levels.

You should tread carefully when using leverage. It vastly increases the risk of breaching the drawdown limits, meaning the account funds will be revoked.

Mental Coach Program

Those looking to take their trading abilities to the next level might consider OFP Funding’s mental coaching programs.

Available in English, Italian, and Spanish, the program provides one-on-one coaching on managing trading emotions. This is a crucial characteristic to possess when trading the financial markets.

User Experience & Dashboard

We found that the overall user experience is suitable for all skill sets. For a start, choosing a suitable funding account couldn’t be easier. OFP Funding provides sliders for the key metrics, such as drawdown limits, profit splits, and payout frequency. The upfront fee updates as the slider moves.

The OFP Funding dashboard is also user-friendly. Traders can easily track their performance, including real-time profits and losses. That said, the help section could be more comprehensive. We found that some topics require an answer from customer support.

OFP Funding Payment Methods

Traders must pay an upfront fee before accessing the funding account. Several payment methods are accepted, including:

• Visa and MasterCard
• The best cryptocurrencies, such as Bitcoin and Ethereum

Withdrawals can be made via bank transfer, crypto (under $500), and Rise (over $500).

OFP Funding Customer Support

OFP Funding offers 24/7 customer support via live chat. Questions can also be sent via email and in the Discord community. OFP Funding is also active on social media.

How to Get Started with OFP Funding

This OFP Funding review will conclude with a step-by-step walkthrough. Read on to obtain prop funding in under 10 minutes.

Step 1: Open an Account

First,  visit the OFP Funding website to open an account.

You need to provide your name, date of birth, telephone number, residential address, and email.

Step 2: Choose the Account Parameters

Now for the important part. You need to choose your account parameters, which determines the upfront fee required.

This includes:

• Account size ($5,000 to $200,000)
• Daily drawdown (3% to 5%)
• Profit split (26% to 80%)
• Payout (monthly, bi-weekly, or on-demand)
• Currency (USD, EUR, GBP)

Step 3: Pay the Upfront Fee

You now need to pay the upfront fee. Payments are handled securely via debit/credit cards, with Visa and MasterCard supported.

Alternatively, you can pay via popular cryptocurrencies like Bitcoin and Ethereum.

Step 4: Download Trading Platform

The next step is to download your preferred trading platform. This is a choice between Match-Trader, cTrader, or TradeLocker.

Log into the platform with the credentials provided by OFP Funding. This will connect the platform to the partnered broker, Thunder Markets.

Step 5: Start Trading

And that’s it, you can now start trading. All buy and sell positions will be tracked by OFP Funding in real-time. The performance metrics can be monitored via your OFP Funding dashboard.

Importantly, ensure you adopt risk management principles. If you breach the daily or total drawdown limit the funds will be revoked. This means you’ll need to pay another fee to obtain capital.

Conclusion

This OFP Funding review has covered all important factors. Overall, it’s a great option for obtaining trading capital without needing to complete challenges.

Simply pay the upfront fee and download a supported trading platform. Ensure you understand how the drawdown limits work before proceeding. Breaching them will mean the trading funds are removed.

FAQs