Risk Warning: Your capital is at risk. 74-89% of retail investors lose money when trading CFDs.
You should consider whether you can afford to take the high risk.
As a new prop firm, OnlyFunds lacks information regarding the company background. What is known is that the owners are Joel, Connor, and Darre. 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.
Platforms for Trading at OnlyFunds
OnlyFunds currently offers MT4 as a trading platform. MT4 is a beginner friendly platform with advanced tools.
What Instruments Does OnlyFunds Offer?
After OnlyFunds partnered with Eightcap, they started to offer a wider range of trading instruments:
- Forex
- Indices
- Commodities
| 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 |
Options for Payment at OnlyFunds
OnlyFunds accepts all major cards and crypto as payment options.
Different Account Sizes at OnlyFunds
OnlyFunds offers five account sizes:
- $25k
- $50k
- $100k
- $200k
- $300k
Only Funds Approach to Profit Sharing
OnlyFunds profit split is 90:10, which means they only keep 10% of your profit.
Profit Goals at Only Funds
The profit target in the first phase for all account types is set to 8%, except for the $25k HFT which is 10%. The profit target in the second phase is set to 5%.
OnlyFunds: Loss and Drawdown Limits
For standard accounts at OnlyFunds, the maximum daily loss is 5%, whereas for HFT accounts, it’s 4%. The maximum overall loss allowed is 10% of the account balance for standard accounts and 8% for HFT accounts.
OnlyFunds Minimum/Maximum Trading Day Requirements
Standard accounts need at least 3 trading days per phase, while HFT accounts require 10 trading days. Standard accounts have no maximum trading duration, but HFT accounts are limited to 30 days for the first phase and 60 days for the second phase.
Cost of Joining OnlyFunds 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 |
Understanding Fees and Commissions at OnlyFunds
There is no information regarding fees and commissions at OnlyFunds.
Are Fees at OnlyFunds Refundable?
At OnlyFunds, you only get a refund on Standard accounts and after you finish the evaluation process with the first payout. Make sure you don’t violate any rules before the first payout, because if you do, you won’t get refunded.
Trial Periods Available at OnlyFunds
There are no trial periods at OnlyFunds.
Frequency of Payouts
Payouts are available every 30 days.
Pros vs. Cons based on Trustpilot reviews
There are no negative reviews on TrustPilot. The overall score is 4.7/5 stars.
- Fast Payouts
- Great Customer Service
- New firm with lack of detailed information
OnlyFunds FAQ
The maximum capital at OnlyFunds is $600k.
Payout Time
Every 30-days after you get funded and profitable.
Is News Trading Allowed?
You can trade news at OnlyFunds, on both verification and challenge stages.
What is the Standard Evaluation Start Time?
The evaluation begins once you place your first trade.
