Review of One up trader

Discussion in 'Prop Firms' started by caacapital, Aug 12, 2017.

  1. Gasparov

    Gasparov

    I think you can. But they told me this:
    The threshold is set as a reserve and as security to the funding partners and to secure the longevity of the account. The funding partners don't want to fund a trader and allocate resources if their sole purpose of the trader is to close their account, but funded traders are eligible to withdraw a portion of the reserves depending on the age of the their live trading account, for example, one of our funding partners's terms are as follows: Trader may receive 20% of net reserves for account lifespan of under 45 calendar days, 50% of net reserves for account lifespan of 46 to 90 calendar days, or 80% of net reserves for account lifespan of over 91 days.

    That's for one funding partner, take what you will from it.
     
    #201     Nov 20, 2018
  2. Are you still with them?
     
    #202     Nov 21, 2018
  3. Gasparov

    Gasparov

    Yes, I'm working on an evaluation at the moment.
     
    #203     Nov 21, 2018
  4. I am planning to start soon.
     
    #204     Nov 21, 2018
  5. I don't see anything at their website about this "reserve". They advertise that the first $8000 in profit goes 100% to the trader. Then the trader begins the 80/20 split with them. Does the reserve mean that you can't withdraw your 80% split and must leave part of it in the account? I'm currently in the evaluation, doing well so far and hoping to get funded. I'm confused about this "reserve" - do you have a link with more detailed information? Thanks for the help.
     
    #205     Dec 18, 2018
  6. its in a random place if you search for how are profits taxed in the search button. http://help.oneuptrader.com/knowledge_base/topics/profit-info?from_search=true

    the withdraw threshold is your profit target essentially making it excatly like TST except worse wtih a live trailingstop and a higher withdrawal minimum of $1000 so if you do the 30k you have to make $4000 before seeing any money. Thats a huge ask for most traders and your loss limit is $1500(again a dynamic trailing stop so if you hold onto a trade that had unrealized of 1500 and it gets back to break even you just hit your stop or even a more realistic one you hold for 100 and goes back to BE you trailing stop just went up by $100) this keeps your wins relatively small and losses bigger because you dont want to hit the stop. TST and Oneup are both trash i would go with earn2trade for the best chance of passing. Note the best is to use your own cash all these services are using the instant gratification of trades which is a trait that causes failure I get wanting to use them to test yourself before going to cash but in the end your will most likely spend at least the drawdown your whatever combine you pick just over a few months
     
    Last edited: Dec 19, 2018
    #206     Dec 19, 2018

  7. Thanks so much for the information. I do use my own cash to trade as well. But I figured why not increase earnings using a couple of these programs. I'm signing up with Earn2Trade today. By my calculation, a trader needs to sign up for a large account and use 1/3 the number of lots allowable. This gives you the advantage of staying far away from the "shut down" limits. ONeUp commissions are a killer for me - I'm a scalper and $5 RT is very expensive. TST is about $2.75. Earn2Trade's model seems more realistic to me - more in line with the real world. In any case, if I can make a few extra bucks using these programs, it's okay.

    Thanks again for the input. Good trading.
     
    #207     Dec 19, 2018
    caacapital likes this.
  8. i forgot the other benefit for Oneup over TST is the daily limit doesn't close your account.
     
    #208     Dec 19, 2018
  9. Gasparov

    Gasparov

    Wow I didn't realize the threshold was that high, which is pretty annoying from the trader's point of view if they have any idea what they're doing. I was hoping to make ~1-1.5k and withdraw 1k to cover my costs of the program and then some, so I guess I'll have to plan differently.
     
    #209     Dec 21, 2018
  10. Geet, I would like to find out more about this as I was considering them. How can I contact you. Thanks
     
    #210     Feb 10, 2019