5-May-25 Rules for Trading Challenges.docx
OANDA Assessments Ltd Registered Address: 171 Old Bakery Street Valletta, VLT 1455 Malta www.proptrader.oanda.com Program Rules for OANDA Prop Trader Challenges - (5 May 2025) OANDA supports 11 Challenge plans with the respective fee and virtual funding levels Account Type - CLASSIC Name 5k 10k 25k 50k 100k 188k 250k 500k Challenge Fee $35 $60 $199 $299 $599 $888 $1,200 $2,400 Virtual Funding* $5,000 $10,000 $25,000 $50,000 $100,000 $188,888 $250,000 $500,000 Profit Target** Phase 1 (8%) Phase 2 (5%) $400 $250 $800 $500 $2,000 $1,250 $4,000 $2,500 $8,000 $5,000 $15,112 $9,445 $20,000 $12,500 $40,000 $25,000 5% Max Daily Loss 5% 5% 5% 5% 5% 5% 5% 5% Daily Loss and Daily Loss breach levels are static values within the trading day. Daily Loss breach level is calculated as 5% below the previous End of Day Equity value on the Account Max Loss (10% - Trailing on highest balance) $500 $1,000 $2,500 $5,000 $10,000 $18,888 $25,000 $50,000 Max Loss breach level trails up when the account reaches a new High WaterMark Balance (realized profits from closed positions). Max Loss breach level stops to trail up, when it reaches the initial funding amount. Profit Share 80% 80% 80% 80% 80% 80% 80% 80% *Please take note that only Classic accounts can be merged up to a maximum capital allocation of USD 500,000 **Subject to change based on the ongoing promotions Account Type - BOOST Name 10K 50K 100K Challenge Fee $99 $399 $699 Virtual Funding* $10,000 $50,000 $100,000 Profit Target** Phase 1 (10%) Phase 2 (5%) $1,000 $500 $5,000 $2,500 $10,00 $5,000 5% - Max Daily Loss $500 5% fixed $2,500 5% fixed $5,000 5% fixed
(fixed from Initial Balance) Limit is fixed at 5% of the initial balance. Breach level is triggered when current daily loss (including unrealised losses/profit and swaps) reaches 5% or more of the initial balance. 10% - Max Loss (Static Drawdown) $1,000 (10% from initial Balance) $5,000 (10% from initial Balance) $10,000 (10% from initial Balance) Max Loss breach level is fixed at 90% of initial balance and triggered when account Equity reaches that level (Includes unrealised losses/profits and swaps) Profit Share 80% - first payout 90% - next payout 80% - first payout 90% - next payout 80% - first payout 90% - next payout * Please take note that the Boost account cannot be merged. **Subject to change based on the ongoing promotions ALL plans share the same set of rules, listed below: Rule Challenge (Phase 1) Challenge (Phase 2) Signal Provider Notes Profit Target 8% (Classic) 10% (Boost) 5% (Classic) 5% (Boost) N.A. The user passes the Challenge Phase as soon as the respective profit target is reached and has not violated any other conditions stated here or in the Terms and Conditions. Upon passing Phase 1, the trading account used for that Phase is locked. The user is issued a new trading account for Phase 2. Max Daily Loss (Applicable to CLASSIC only) 5% Dynamic Always a static value for the trading day, calculated as 5% from the previous EoD Equity value on the Account Violating this limit is a hard breach , meaning loss of challenge account access. The Daily Loss Limit is the maximum amount (measured in account equity) that the account can lose on any given day. The Daily Loss Limit is set for the day as the stated percentage (5%) of the previous day’s end-of-day Equity value on the account at 17:00 EST . The daily loss limit will not be adjusted intraday. If the account equity reaches a new high watermark level from profitable positions (Realized or Unrealized) on that day, it will not affect the daily loss limit on that trading day.
Max Daily Loss (Applicable to BOOST only) 5% Fixed Always a fixed amount of 5% from the Initial (starting) balance of the Account. Violating this limit is a hard breach , meaning loss of challenge account access. The Daily Loss Limit is the maximum amount (measured in account equity) that the account can lose (including unrealised losses/profit and swaps) on a given day. The Daily Loss limit is measured as a fixed amount of 5% of the starting balance for a Boost type challenge. The daily loss limit is tracked for the day starting from 17:00 EST Maximum Daily Profit (Consistency rule) 5% 2% N.A. Upon reaching this limit, all open positions will be closed and trading will be disabled until the following day Only applicable to the Challenge and is removed at the Signal Provider stage. Maximum Drawdown Limit - Trailing (Applicable to CLASSIC only) 10% from new High Watermark balance update (Realized P/L on the account) Trailing Hard Breach Violating this limit is a hard breach , meaning loss of Challenge account access. This is the limit on the maximum loss a user can sustain in the lifetime value of their Challenge account in each Phase. The loss limit is calculated versus the maximum value of the account over time. The limit is a percentage of the user’s starting account value. This limit is a “trailing” limit, meaning it is calculated versus a high water mark which increases as the value of the account balance increases. However, the breach level is capped at the initial funding amount of the account. Maximum Drawdown Limit - Static (Applicable to BOOST only) 10% from the Initial Balance Static Hard Breach Violating this limit is a hard breach , meaning loss of Challenge account access. This is the limit on the maximum loss a user can sustain in the lifetime value of their Challenge account in each Phase. Breach level will remain fixed (static) at 90% of the initial balance and triggered when account equity reaches that level (Includes unrealised losses/ profits, swaps, dividends.) Max Leverage Up to 100:1 for FX and Gold Up to 50:1 for CFD Indices and CFD Commodities Leverage shown here is the maximum available on any instrument. Positions will be assigned to a tiered margin structure depending on instrument and size of position converted to USD amount See the following table in this document for details per instrument.
Min Trade Size 0.01 lot for FX, Metals 1 lot for 1 CFD index One micro lot FX and Metals, or one index See the following table in this document for details per instrument Retry Discount 20% on 5k - 50k accounts 10% on 100k - 500k accounts (Applicable to CLASSIC plans) Users who attempt a Challenge and do not pass will be eligible for a discount on the fee paid to retry the same Challenge 10% on all accounts (Applicable to BOOST plans) Inactivity Period 30 calendar days This is the maximum number of consecutive days a user can be inactive (not place an opening or closing trade) and maintain access to the Challenge account. The period starts from the date of the purchase of a challenge and then restarts on any date of trading activity. Inactivity over 30 calendar days is a hard breach : users who are inactive (no trades placed) for 30 consecutive days lose Challenge account access, and the account is closed. Active Signal Provider who pass a new challenge that cannot be merged: The newly passed account will be placed on hold due to the one-active-account rule. The inactivity period for the on-hold account will be extended to 180 consecutive calendar days before any breach action is taken.
News Trading Restricted (No penalties) Restricted (No penalties) Restricted (Penalty applicable) Avoid opening new trades or closing existing trades around major news events: No opening or closing trades 2 minutes before and 2 minutes after the news release. This includes all trading operations from processing Market Orders, (Open and Close trades), EA activity, Entry Stops, Entry Limit orders. Positions closed from triggered Take Profit and/or Stop Loss orders are not counted as soft-breach. Any modification of Stop Loss, Take Profits, Entry Stops or Entry Limit orders is not restricted Consequences of opening or closing positions during the restricted window Any newly opened positions in the 4-minute window will be automatically closed A soft breach will be notified via email for all Phase 1, Phase 2, and Signal Providers accounts You can resume trading immediately after a soft breach, however, please take note of the following Account-Specific Rules: Account-Specific Rules Challenge account (Phase1 & Phase2): No hard breaches will be imposed Signal Provider account: The third soft breach will result in a hard breach and the account will be terminated. News Trading is a forbidden practice as stated in our Terms and Conditions, and can result in profit removal and/or account termination. To locate major economic news events, please refer to: MT5 Calendar (Default); or Dashboard > Economic Calendar Holding Positions during News Allowed Trading strategies must not violate the rules described in Rules of Trading and Forbidden Trading Practices as found in the Terms and Conditions Copy Trading Partially Allowed Using OANDA Prop Trader Account as a Master account where trades can be copied from is allowed. Copy trading into OANDA Prop Trader Account as a slave from external accounts (including any other OANDA Prop Trader accounts by the same user would be considered a violation of the trading rules and may result in the trading account being breached.
Flatten on Friday? Not required Users are not required to flatten/close all open positions each weekend. Mandatory Stop Loss Not required Users are not required to place StopLoss orders on all positions. Refund of Challenge Fee Available on the first profit share payout Users who successfully pass Phase 2 of the challenge and become Signal Providers are eligible for a refund of the fee they paid for the most recent challenge they completed (and only this fee). The refund will be paid with (and not before) the payout of the first profit share according to the payout rules specified for Signal Providers. Signal Providers who do not generate a profit share payout will not receive a refund. Min Payout Amount (Signal Provider Stage) Minimum $200 (for All CLASSIC plans) This is the minimum amount that a signal provider can request as a payout. The actual amount paid to an OANDA Global Markets account will then be adjusted by the profit share percentage. 2% of the Initial Balance (for All BOOST plans) $200 - for 10k plan $1,000 - for 50k plan $2,000 - for 100k plan Max capital allocation (only applicable to CLASSIC plans) $500,000 This is the maximum virtual capital that can be allocated to a signal provider account. Signal providers can only have one signal provider account active at any given time. If a user successfully completes multiple assessments (OANDA Prop Trade Challenges), the virtual capital will be merged in a single account up to a maximum of $500,000. If a user completes an assessment that would result in the virtual capital allocation being greater than $500,000, the capital will not be merged into or allocated to a virtual account until such time as the user no longer has an active allocation, and a new virtual allocation will be created. Please note that only Classic accounts can be merged. Boost Plans can not be merged. Tiered margins The margin trading available makes use of a tiered margin structure. In this structure, larger positions are subject to higher incremental margin rates. For example, for USDJPY the margin rates are:
Tier Net open position (USD) Margin 1 <0.5 mil 1% 2 0.5 - 2 mil 2% 3 2 - 5 mil 5% 4 5 - 10 mil 10% 5 > 10 mil 20% A position size of 5 mil (50 lots) in USDJPY would have a margin requirement of USD 185,000 This is calculated as: (units in tier one x tier one margin rate) + (Units in tier two x tier two margin rate) + (Units at tier three x tier three margin rate ). Tier Net open position (USD) Margin rate Margin total (units x margin rate) 1 500,000 1% 500,000 x 1% = $5,000 2 1,500,000 2% 1,500,000 x 2% = $30,000 3 3,000,000 5% 3,000,000 x 5% = $150,000 Total 5,000,000 $5,000+ $30,000+$150,000 = $185,000 Instrument and margin definitions Instrument 1st tier position in USD & margin 2nd tier position in USD & margin 3rd tier position in USD & margin 4th tier position in USD & margin 5th tier position in USD & margin Contract (1 lot) size and CCY Min ticket size & min step Trading hours (GMT+2 server time following DST) AUDUSD < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% AUD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri EURUSD < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% EUR 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri GBPUSD < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% GBP 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri NZDUSD < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% NZD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri (except 19:59-20:05) USDCAD < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% USD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri USDJPY < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% USD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri USDCHF < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% USD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri EURCHF < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% EUR 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri
EURGBP < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% EUR 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri EURJPY < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% EUR 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri AUDCAD < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil 0% > 10 mil 20% AUD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri AUDCHF < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% AUD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri AUDJPY < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% AUD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri AUDNZD < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% AUD 100,000 0.01 (lot) = 1,000 05:00-23:59 Mon-Fri (except 19:59-20:05) CADCHF < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% CAD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri CADJPY < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% CAD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri CHFJPY < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% CHF 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri EURAUD < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% EUR 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri EURCAD < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% EUR 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri EURNOK < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% EUR 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri EURSEK < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% EUR 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri EURNZD < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% EUR 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri (except 19:59-20:05) GBPAUD < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% GBP 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri GBPCAD < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% GBP 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri GBPJPY < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% GBP 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri GBPNZD < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% GBP 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri (except 19:59-20:05) GBPCHF < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% GBP 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri NZDCAD < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% NZD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri (except 19:59-20:05) NZDCHF < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% NZD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri (except 19:59-20:05) NZDJPY < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% NZD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri (except 19:59-20:05)
USDNOK < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% USD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri USDSEK < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% USD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri EURPLN < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% USD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri EURHUF < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% USD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri EURCZK < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% USD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri USDPLN < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% USD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri USDHUF < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% USD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri USDCZK < 0.5 mil - 1% 0.5-2 mil 2% 2-5 mil 5% 5-10 mil –10% > 10 mil 20% USD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri USDCNH < 0.5 mil - 5% 0.5-2 mil 10% > 2 mil –20% USD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri USDMXN < 0.5 mil - 5% 0.5-2 mil 10% > 2 mil 0% USD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri USDZAR < 0.5 mil - 5% 0.5-2 mil 10% > 2 mil –20% USD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri USDSGD < 0.5 mil - 5% > 0.5 mil –20% USD 100,000 0.01 (lot) = 1,000 00:05-23:59 Mon-Fri Spot Metals XAUUSD <0.25 mil -1% 0.25 - 0.5mil –2% 0.5 - 2 mil –5% 2-5 mil –10% > 5 mil 20% USD 100 oz 0.01 (lot) = 1 oz 01:05-23:59 Mon-Fri XAGUSD <0.25 mil -2% 0.25 - 0.5 mil –5% 0.5 - 2 mil-10% >2 mil 20% USD 5,000 oz 0.01 (lot) = 50 oz 01:05-23:59 Mon-Fri CFD Indices AU200 < 0.5 mil - 2% 0.5 - 2 mil 5% 2-5 mil –10% >5 mil 20% 1 index (AUD) 1 lot = 1 index 00:51-22:59 Mon-Fri (except 07:29-08:11 daily) EU50 < 0.5 mil - 2% 0.5 - 2 mil 5% 2-5 mil –10% >5 mil 20% 1 index (EUR ) 1 lot = 1 index 02:16-22:59 Mon-Fri DE40 < 0.5 mil - 2% 0.5 - 2 mil 5% 2-5 mil –10% >5 mil 20% 1 index (EUR ) 1 lot = 1 index 02:16-22:59 Mon-Fri US30 < 0.5 mil - 2% 0.5 - 2 mil 5% 2-5 mil –10% >5 mil 20% 1 index (USD) 1 lot = 1 index 01:01-2p 3:59 Mon-Fri US100 < 0.5 mil - 2% 0.5 - 2 mil 5% 2-5 mil –10% >5 mil 20% 1 index (USD) 1 lot = 1 index 01:01-23:59 Mon-Fri US500 < 0.5 mil - 2% 0.5 - 2 mil 5% 2-5 mil –10% >5 mil 20% 1 index (USD) 1 lot = 1 index 01:01-23:59 Mon-Fri
min/step 10 lots FR40 < 0.5 mil - 2% 0.5 - 2 mil 5% 2-5 mil –10% >5 mil 20% 1 index (EUR) 1 lot = 1 index 09:01-22:59 Mon-Fri UK100 < 0.5 mil - 2% 0.5 - 2 mil 5% 2-5 mil –10% >5 mil 20% 1 index (GBP) 1 lot = 1 index 03:01-22:59 Mon-Fri JP225 < 0.5 mil - 2% 0.5 - 2 mil 5% 2-5 mil –10% >5 mil 20% 1 index (JPY) 1 lot = 1 index min/step 100 lots 01:01-23:59 Mon-Fri NL25 < 0.5 mil - 2% 0.5 - 2 mil 5% 2-5 mil –10% >5 mil 20% 1 index (EUR) 1 lot = 1 index 09:01-22:59 Mon-Fri ES35 < 0.5 mil - 2% 0.5 - 2 mil 5% 2-5 mil –10% >5 mil 20% 1 index (EUR) 1 lot = 1 index 09:01-20:59 Mon-Fri CH20 < 0.5 mil - 2% 0.5 - 2 mil 5% 2-5 mil –10% >5 mil 20% 1 index (CHF) 1 lot = 1 index 09:01-22:59 Mon-Fri SG30 < 1 mil - 2% 1-5 mil 5% 5-10 mil –10% >10 mil 20% 1 index (SGD) 1 lot = 1 index min/step 10 lots 02:31-23:14 Mon-Fri (except 11:19 - 11:51) HK50 < 0.5 mil - 2% 0.5-2 mil 5% >2 mil 20% 1 index (HKD) 1 lot = 1 index 03:16-20:59 Mon-Fri (except 05:59 -07:01 and 10:29 - 11:16) CN50 < 0.5 mil - 2% 0.5-2 mil 5% >2 mil 20% 1 index (USD) 1 lot = 1 index 03:01-22:44 Mon-Fri (except 10:29-11:01) CFD Commodities USOIL <0.1 mil 2% 0.1-0.5 mil - 5% >0.5 mil –20% 1,000 barrels (USD) 0.1 (lot) = 100 barrels 01:01-23:59 Mon-Fri UKOIL <0.1 mil 2% 0.1-0.5 mil - 5% >0.5 mil –20% 1,000 barrels (USD)) 0.1 (lot) = 100 barrels 01:01-23:59 Mon 00:01-23:59 Tue-Fri (except 00:59 - 03:01) NATGAS <0.05mil– 5% 0.05 -0.5 mil –10% > 0.5 mil 20% 10,000 MMbtu (USD) 0.1 (lot) = 1,000 MMbtu 01:01-23:59 Mon-Fri