These are the facts, 92% of prop traders fail if the benchmark is $1, and 99.8% fail if the benchmark is something meaningful like $1,000s per month, we have over 100books or over 10,000pages or over 3million words of unique inhouse content relating to investing, daytrading, wealth, stocks, futures, forex, crypto and also an in-house platform with algos that invert the numbers because simply experience and AI wins today, it's not a prop firm but a training academy for something a bit more interesting, but people still need to follow the rules, be calm, be patient, and stop expecting the markets to give them more when all that happens is they get less.
OFP Funding has Terms & Conditions that are a hundred miles long! Yikes! And they break them up into 24 sections all accessed individually, which I hate. Consequently, I plan to take a look at them here, one or two at a time. But, if they're like all the other outfits, they're almost sure to have some aspect to their method of operations that is going to be a deal breaker for me. (TOTALAV labels them as a low-trust website.) They are owned by OverviewFX Ltd 71-75 Shelton Street, London, UK The terms and conditions of OFP are put in place, and outlined below, for your benefit and ours. The aim is to help our community understand the way that we function, and outline all of the regulations that protect each trader and the company. In order to clarify some of the topics in the terms and conditions, OFP is again going above and beyond, to keep all our clients as much informed as possible. The information on the Website is provided solely for analysis purposes only and should not be construed as financial, investment, tax, or other advice. Nothing on the Website or in our Services represents a solicitation, advice, endorsement, or offer to purchase or sell stocks or other financial instruments by OFP, its agents, employees, contractors, or any connected entities. You are solely responsible for assessing the benefits and risks associated with the use of any information or other content on the Website. All investments include substantial risk, and an individual's investment decisions are solely his/her obligation. All information on the Website is provided “as is”, with no guarantee of completeness, accuracy, timeliness, or of the results obtained from the use of this information, and without warranty of any kind, express or implied. OFP, or its partners, employees, or agents, shall in no way be responsible to you or anyone else for any decision made or action taken in reliance on the information on the Website, or for any consequential, special, or similar damages, even if warned of the potential of such damages. Purchases should not be regarded as deposits. All program charges are utilized for working expenses including, however not restricted to, staff, innovation, and other business-related costs. Nothing contained herein is a solicitation or an offer to buy or sell futures, options, or forex. Past performance is not necessarily indicative of future results. Disclaimer: OFP, ofpfunding.com and its owner company OverviewFX LTD, are not Affiliates, Promoters, Partners of IC MARKETS (EU) LTD. IC Markets is a trading name owned by IC MARKETS (EU) LTD. 1. AGREEMENT TO TERMS These Terms of Use constitute a legally binding agreement made between you (“you or ”Clients”), whether personally or on behalf of an entity and OverviewFX Ltd (“Company“, “we”, “us”, or “our”), concerning your access to and use of the https://ofpfunding.com website as well as any other media form, media channel, mobile website or mobile application related, linked, or otherwise connected thereto (collectively, the “Site”). We are registered in the United Kingdom and have our registered office at 71-75 Shelton Street, London, UK WC2H 9JQ. You agree that by accessing the Site, you have read, understood, and agreed to be bound by all of these Terms of Use. IF YOU DO NOT AGREE WITH ALL OF THESE TERMS OF USE, THEN YOU ARE EXPRESSLY PROHIBITED FROM USING THE SITE AND YOU MUST DISCONTINUE USE IMMEDIATELY. Supplemental terms and conditions or documents that may be posted on the Site from time to time are hereby expressly incorporated herein by reference. We reserve the right, in our sole discretion, to make changes or modifications to these Terms of Use from time to time. We will alert you about any changes by updating the “Last updated” date of these Terms of Use, and you waive any right to receive specific notice of each such change. Please ensure that you check the applicable Terms every time you use our Site so that you understand which Terms apply. You will be subject to, and will be deemed to have been made aware of and to have accepted, the changes in any revised Terms of Use by your continued use of the Site after the date such revised Terms of Use are posted. The information provided on the Site is not intended for distribution to or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country. Accordingly, those persons who choose to access the Site from other locations do so on their own initiative and are solely responsible for compliance with local laws, if and to the extent local laws are applicable. The Site is not tailored to comply with industry-specific regulations (Health Insurance Portability and Accountability Act (HIPAA), Federal Information Security Management Act (FISMA), etc.), so if your interactions would be subjected to such laws, you may not use this Site. You may not use the Site in a way that would violate the Gramm-Leach-Bliley Act (GLBA). The Site is intended for users who are at least 13 years of age. All users who are minors in the jurisdiction in which they reside (generally under the age of 18) must have the permission of, and be directly supervised by, their parent or guardian to use the Site. If you are a minor, you must have your parent or guardian read and agree to these Terms of Use prior to you using the Site. 2. INTELLECTUAL PROPERTY RIGHTS Unless otherwise indicated, the Site is our proprietary property and all source code, databases, functionality, software, website designs, audio, video, text, photographs, and graphics on the Site (collectively, the “Content”) and the trademarks, service marks, and logos contained therein (the “Marks”) are owned or controlled by us or licensed to us, and are protected by copyright and trademark laws and various other intellectual property rights and unfair competition laws of the United States, international copyright laws, and international conventions. The Content and the Marks are provided on the Site “AS IS” for your information and personal use only. Except as expressly provided in these Terms of Use, no part of the Site and no Content or Marks may be copied, reproduced, aggregated, republished, uploaded, posted, publicly displayed, encoded, translated, transmitted, distributed, sold, licensed, or otherwise exploited for any commercial purpose whatsoever, without our express prior written permission. Provided that you are eligible to use the Site, you are granted a limited license to access and use the Site and to download or print a copy of any portion of the Content to which you have properly gained access solely for your personal, non-commercial use. We reserve all rights not expressly granted to you in and to the Site, the Content and the Marks.
3. USER REPRESENTATIONS By using the Site, you represent and warrant that: (1) all registration information you submit will be true, accurate, current, and complete; (2) you will maintain the accuracy of such information and promptly update such registration information as necessary; (3) you have the legal capacity and you agree to comply with these Terms of Use; (4) you are not under the age of 13; (5) you are not a minor in the jurisdiction in which you reside, or if a minor, you have received parental permission to use the Site; (6) you will not access the Site through automated or non-human means, whether through a bot, script or otherwise; (7) you will not use the Site for any illegal or unauthorized purpose; and (8) your use of the Site will not violate any applicable law or regulation. If you provide any information that is untrue, inaccurate, not current, or incomplete, we have the right to suspend or terminate your account and refuse any and all current or future use of the Site (or any portion thereof).
4. USER REGISTRATION You may be required to register with the Site. You agree to keep your password confidential and will be responsible for all use of your account and password. We reserve the right to remove, reclaim, or change a username you select if we determine, in our sole discretion, that such username is inappropriate, obscene, or otherwise objectionable. 5. SERVICE 5.1 We reserve the right to refuse service to anyone for any reason at any time. Prices for our products are subject to change without notice. We reserve the right at any time to modify or discontinue the Service (accounts provided) (or any part or content thereof) without notice at any time. We shall not be liable to you or to any third party for any modification, price change, suspension or discontinuance of the Service.. 5.2 We reserve the right, but are not obligated, to limit the sales of our products or Services to any person, geographic region or jurisdiction. We may exercise this right on a case-by-case basis. We reserve the right to limit the quantities of any products or services that we offer. All descriptions of products or product pricing are subject to change at any time without notice, at our sole discretion. We reserve the right to discontinue any product at any time. Any offer for any product or service made on this site is void where prohibited. We do not warrant that the quality of any products, services, information, or other material purchased or obtained by you will meet your expectations, or that any errors in the Service will be corrected. 5.3 You acknowledge that the Company has access to information about the demo trades that you perform on the Trading Platform. You grant the Company your consent to share this information with persons/entities who are in a group with the Company or who are otherwise affiliated with the Company, and you grant the Company and these persons/entities your consent and authorization to handle this information at their own will. You agree that these activities may be performed automatically without any further consent, consultation, or approval on your part necessary and that you are not entitled to any remuneration or revenue associated with the use of the data by the Company. The Company is aware that you do not provide the Company with any investment advice or recommendations through your demo trading. 5.4 While trading with an Overview Funding Program provided account is prohibited to: Use software which could manipulate, abuse or give you an unfair advantage when using our Service; Latency arbitrage, long-short arbitrage, reverse arbitrage, opposite account trading, hedging and the use of Expert Advisor (EA), Tick trading and news straddling methods; Trades which take advantage of unrealistic demo fills and/or conditions will not be taken into consideration in the payout count. If consistent unregular behaviour is detected, we reserve the right to block your account. 5.5 At OFP we support responsible traders who show a talent for Trading. We do not support traders looking to cheat the system, or who trade with a gambling “all-or-nothing” mentality. We, therefore, have a Responsible Trading Policy for Traders to abide by. 5.6 Traders must abide by the following General Trading Rules: It is prohibited to: Use prohibited Trading Strategies which exploit errors in the service such as errors in the display of prices or delays in their update, including but not limited to; HFT latency arbitrage, news straddling, stop order arbitrage etc. Perform Trades using an external or slow data feed. Perform alone or in collusion with other people, combinations of trades, for example simultaneously entering opposite positions on different accounts, or multiple traders placing the same trades. Use “challenge passing” services or account management services. Breach the Terms and Conditions of the Provider or Trading Platform. Use any software, artificial intelligence, high-speed or mass data entry which might give you an unfair advantage. Otherwise perform trades in contradiction with how trading should be performed in the financial markets, or in a way which causes OFP financial harm. 5.7 Traders must abide by the following Risk Management Rules: To protect our capital and help our traders succeed we must monitor every account for signs of gambling or reckless trading. Specifically looking for the following situations: Trading with no stoploss. Changing strategy after a winning trade to hold the profits until the payout day. Taking advantage of demo conditions. If we feel that a trader has reckless behaviour, particularly by breaching any guidelines set out in Section 5, OFP reserves the right to take action against the trader. 5.8 Accounts are reviewed manually on a regular basis. If we see signs of gambling or “all-or-nothing” mentality or if we deem an account to be extremely high risk, we reserve the right to take any of the following actions: Send a warning Remove the account profits Modify the payout Temporary reduction of profit split Refusal of Withdrawal Full Account Termination 5.9 It is prohibited to use MQL5 signal services or to directly copy trades from another Trader. 5.10 It is fully prohibited to use any high-frequency trading (HFT) strategy or to use any e-trading protocols to execute positions on your account, these include but are not limited to placing trades by: API .Net FIX/API protocol ITCH Market Data Protocol 5.11 If the Trader breaches any of the Rules within this Section 5, OFP reserves the right to terminate the Account with immediate effect and no Refund will be issued. 5.12 If the Trader breaches any of the Rules within Section 5 in collusion with another OFP Trader, all involved accounts will be terminated with immediate effect and no refund will be issued. 5.13 OFP re serves the right to terminate any accounts for which OFP has reasonable suspicion of wrongdoing. No refund will be issued. DEVELOPMENTS IN FINANCIAL MARKETS ARE SUBJECT TO FREQUENT AND ABRUPT CHANGES. TRADING ON FINANCIAL MARKETS MAY NOT BE PROFITABLE AND CAN LEAD TO SIGNIFICANT FINANCIAL LOSSES. ANY PREVIOUS PERFORMANCES AND PROFITS OF THE CUSTOMER’S DEMO TRADING ARE NOT A GUARANTEE OR INDICATION OF ANY FURTHER PERFORMANCE 5.14 Gambling Policy We consider a trader’s trading behaviour as “gambling” if it breaks any of the terms laid out in this policy by the Prop firm. Genuine traders, consistent traders, beginners, and advanced traders who use a method and a consistent style of trading are not prone to violating the gambling policy as laid out by the prop firm and understand that trading requires a method and consistency. The Company runs daily checks on each account to monitor the trading behaviour and flag suspicious activities. Clients who trade on an Overview Funding Program account must show they oversee their risk management. Once a position, or multiple positions, is flagged as gambling, the account will be terminated, and we will send the Client an email explaining why certain trades were flagged. Trading behaviours that are prohibited by this program include: Abnormally large average lot size: We will compute the average of the Trader lot sizes for every asset class which means all forex pairs together, cryptos and indices etc… and if one or more trades present a lot size that exceeds 2.5 times the Trader average lot size on that particular asset class, they will be considered a violation of the gambling policy. Here’s an example representing the first trading week on one forex pair: 3 trades executed with 0.20 lots 4 trades executed with 0.50 lots 2 trades executed with 0.60 lots 3 trades executed with 3 lots The software will flag the three (3) trades with a lot size of three (3) as abnormally large. The average lot size is 1.07 (i.e.(Sum of all lots per asset class)/(number of trades per asset class) = ((3*0.2)+(4*0.5)+(2*0.6)+(3*3) )/12 = 1.07lots), thus 1.07 x 2.5 = 2.68 lots represents the maximum allowed lot size. Trades opened with three (3) lots exceed the maximum allowed lot size and will be a violation of the gambling policy. The same policy is valid on contrary, the minimum lot size is 1.07/2.5 = 0.43 lots. To avoid trades violating the gambling policy at the end of the first week we suggest our traders during the first week to calculate the average of each asset class on day one or two and then stick to that range for the rest of the week (i.e. week one). The first week will determine the range on all forex pairs for the second week, what this means is since the average for week one (1) on all forex pairs was 1.07 lots you have a range of 0.43 lots to 2.68 lots as per the calculation above. Suppose the Trader executes 3 trades in week 2, all at lot size of 1.70 lots which is within the range established above. The Trader’s week 2 average lot size will be 1.70 lots (i.e.(Sum of all lots per asset class)/(number of trades per asset class) = ((3*1.70))/3 = 1.70 lots), this means that week 3 upper and lower lot size limits are going to be 1.7 x 2.5 = 4.25 lots 1.7/2.5 = 0.68 lots The Trader’s week 3 trades must not exceed these upper and lower limits and any trade that exceeds either of the end limits will result in a violation of the gambling rule. It’s important to note that once multiple positions (i.e. more than 1 trade) violate the gambling rule this will lead to a sanction as we are looking for traders that practice sound risk management. We recommend traders place trades with lots close to the upper limit of the previous week, this means if the Trader’s range is 0.68 lots to 4.25 lots, place trades with lots on the upper end of this range e.g. 4 lots and your average for that current week will automatically increase hence, the trade will have a new higher trading range. The account’s reset occurs at the start of each new trading month (i.e. after every four (4) trading weeks), allowing traders to begin trading with a completely new lot size range. Our program allows traders to trade with no lot size restrictions, trade news, and keep positions open at all hours of the day and throughout the weekend. Trading with an abnormally large lot size will be detected by the software if the trader tries to take a chance (on news events, reports, or merely just trying to be lucky) by placing an order and dramatically increasing the lot size from the average kept over the previous days of trading in order to attempt a lucky shot and profit when the trader would not normally trade in this manner, especially when using a real account. Trading Behaviour: When reviewing accounts our team looks at the overall behaviour of the trader and if we deem a trading behaviour as “gambling” by breaking any of the 3 points within the gambling rule, for example, a member that only trades GBPUSD or Indices profiting the first two weeks and then drastically reducing their risk and switching over to a different asset class(i.e. crypto) such as BTC to try and fool our team that they’ve respected the 3-day trading rule is not accepted and is a violation of the gambling rule. The aim of the program is to help traders be consistent and find consistent traders hence we expect each trader to have a well-defined trading plan they follow each trading week. Trade Duration: Opening and closing positions with high frequency with a duration of fewer than 120 seconds for each position just to simulate that the trader is consistent with a new high lot size will be detected by the software and will be flagged. For example, a Trader who normally trades with an average of 2 lots, opens a new position exceeding its average lot size, and then tries to manipulate the software by adding various new high lot size positions opened and closed for seconds just to create “new historical data” will be flagged. The Trader has the possibility to violate the minimum duration one time every 28 days, while the second violation will block the account. This program was created with the goal of producing consistent traders rather than gambling traders, and it also aims to reflect a realistic trading scenario by asking traders to observe and practice sound risk management. We want to emphasize that we are confident that any consistent trader who exhibits good trading behaviour will be exempt from the gambling policy. This policy was created to protect the prop company from those who would seek to exploit it. Please feel free to have a look at the video HERE which aim is to further clarify the policy. 5.15 Payouts can be subjected to transaction fees depending on the chosen payment method. All transaction fees will be subtracted from the payout total, be aware that some payment methods require a minimum payout amount. 5.16 The Client is prohibited from changing passwords to the trading account under penalty of immediate termination of the service, there is no exemption to this event. Should this term be violated the Company reserves the right to suspend the account alongside any profits made without any refund being issued. Kindly note that. it’s the trader’s responsibility to ensure the security of their MT5/MT4 credentials at all times. The Company will not be liable for MT5/MT4 password breaches or third-party access.
6. PURCHASES AND PAYMENT We accept the following forms of payment: Mastercard Visa Cryptocurrency You agree to provide current, complete, and accurate purchase and account information for all purchases made via the Site. You further agree to promptly update account and payment information, including email address, payment method, and payment card expiration date, so that we can complete your transactions and contact you as needed. We may change prices at any time. All payments shall be in British Sterling. You agree to pay all charges at the prices then in effect for your purchases and any applicable shipping fees, and you authorize us to charge your chosen payment provider for any such amounts upon placing your order. We reserve the right to correct any errors or mistakes in pricing, even if we have already requested or received payment. We reserve the right to refuse any order placed through the Site. We may, in our sole discretion, limit or cancel quantities purchased per person, per household, or per order. These restrictions may include orders placed by or under the same customer account, the same payment method, and/or orders that use the same billing or shipping address. We reserve the right to limit or prohibit orders that, in our sole judgment, appear to be placed by dealers, resellers, or distributors.
7. REFUNDS POLICY 7.1 Payments made on this website are final with no recourse to a refund. Fees paid on the website are for access to the Overview Funding Program or services provided under it. 7.2 Notwithstanding the foregoing under clause 11.1, a user may request a cancellation for the service or withdraw from the contract within 4 days of placing an order without giving a reason. The user must send an email to support@ofpfunding.com to complete the withdrawal from the contract and cancel the order. Once we have received the email, we will send a confirmation and process a refund. Refunds will be made to the original payment method used by the user in placing the order. PLEASE NOTE THAT CANCELLATION AND REFUNDS UNDER THIS CLAUSE ARE NOT AVAILABLE IF A USER HAS MADE A TRADE ON THEIR ACCOUNT WITHIN THE 4 DAYS STATED UNDER THIS CLAUSE. SHOULD THE USER PLACE A TRADE ON THEIR ACCOUNT WITHIN 4 DAYS OF MAKING AN ORDER, THE USER SHALL NOT BE ENTITLED TO A REFUND UNDER THIS CLAUSE. 7.3 If a user chooses to cancel their account after trading on it or fails to meet the conditions of the Overview Funding Program after completion or verification or violating any terms of this Agreement, then the user will not be entitled to a refund even if the order is cancelled. 7.4 You must not unjustifiably dispute a fee or payment you made either through a chargeback, dispute services or other similar methods. If you make such illegitimate claim for a refund or cancellation (e.g., through chargeback services, dispute services, or other similar services), we reserve the right at our sole discretion to cancel our service to you and refuse any future use of our website and services. 7.5 By accepting this agreement, you accept that violating a rule or a policy does not make you entitled to a refund and shall not be requested by an illegitimate claim (e.g., through chargeback services, dispute services, or other similar services).