OANDA Prop Trader Accepts Crypto as Payment

27 August 2024 – OANDA, a top online crypto trading platform and broker, has announced its massive prop trading $10,000 giveaway sweepstakes and a new crypto deposit option to reach more traders. The broker previously announced its entry into the fast-growing prop firm industry earlier this year with regular fiat payment options. The trading giants are now simplifying and expanding the payment process to reach traders who prefer cryptocurrency. OANDA also allows traders to purchase challenge accounts for a lower fee.

OANDA Prop Trader: New Player in the Prop Firm Scene

January 2024 saw OANDA launch its Prop Trader, a profit-sharing program that allows traders to trade funded accounts and receive a share of profits with the least risks. The pioneering trading program, registered under its Global Markets division, targets all types of traders interested in trading proprietary firms from countries where OANDA operates. OANDA prop firm aims to equip talented and self-directed traders with the opportunity to enhance their skills and earning potential.

OANDA is a financial market broker operating as a crypto trading platform that offers international payment and exchange rate services. The prop firm program launched under OANDA Labs Trader before being rebranded to reflect its offerings. The program expands OANDA’s reach in the financial markets, tapping into the rapidly growing niche that serves new and existing clients.

The prop trading program allows traders to become funded after passing two-step challenges and working within the stated rules. Successful traders are offered to become signal providers to OANDA’s proprietary trading business. OANDA provides educational materials, data-driven tools, and features to help prop traders become more successful and enhance their skills. The program offers CFDs on forex pairs, commodities, precious metals, and indices.

Transparency With Profit Sharing

Trading accounts range from $10,000 to $500,000 in ‘virtual’ funding for qualified traders, while profit shares are up to 75% on generated profits. Since OANDA’s funds are at risk, traders can practice the simulated trading and have daily and overall drawdown limits to limit risk and maximize profits. In furtherance of its openness policy, OANDA confirms that, unlike some prop firm competitors, the challenge fees are not the main source of revenue for the program. Instead, signals provided by successful traders are executed on live trades and profits taken.

OANDA’s entrance into the prop firm industry also addresses regulatory issues surrounding the industry; the prop firm firmly complies with regulatory provisions, and payments are made within AML laws. The broker also has a fee refund rule, where traders are refunded the fees they paid on challenges if they make profits and receive their first profit share.

OANDA Sweepstakes: Chance To Buy Prop Challenges

With the price of its prop trading challenges starting from $169, OANDA announced its $10,000 Giveaway Sweepstakes that will see 100 traders receive $100 each to purchase the $10,000 challenge account. Speaking about the sweepstakes, OANDA’s Head of Emerging Markets, Crystal Lok, said that the broker is “committed to rewarding their journey toward becoming successful traders.” and that “the $10,000 Giveaway Sweepstakes represents a fun and affordable route for many aspiring traders to get a chance to test their skills in a prop trading environment.”

Participants must register on OANDA’s Prop Trader platform to participate in the Giveaway Sweepstakes. Registering the account automatically gives them a chance to win a $100 voucher that they can use when purchasing a prop account. The winners will be randomly selected to ensure transparency.

Crypto Payments: Inclusion Meets Trend

OANDA has also announced that it will accept cryptocurrency for prop challenge accounts. This comes following months of receiving only fiat payments through debit and credit cards, wire transfers, and digital wallets. Commenting on the announcement, Lucian Lauerman, Head of Digital Assets and Deputy COO at OANDA, shared, “We’re pleased to announce that we’re adding crypto as a payment method in response to rising global demand.”

OANDA’s new crypto payment method is available for stablecoins and popular coins, including BTC, AAVE, ADA, BCH, BNB, BSV, DOGE, DOT, ETH, LINK, LTC, MATIC, NANO, QTUM, SHIB, SOL, TRX, TUSD, USDC, USDT20, and USDTTRC20. This move is expected to expand OANDA’s reach to the crypto trading community and increase financial penetration and literacy among communities with low reach.
With its latest announcement, OANDA is also tapping into the global trend of increased adoption of crypto payments. Crypto payments are popular because they offer lower transaction fees, enhanced security and speed, no fraudulent chargebacks, cross-border payment, instant settlement, and increased reach/coverage.

About OANDA

Founded in 1996, OANDA is a globally recognized online trading group that offers multi-asset trading, currency data, and analytics to retail and corporate clients. With a strong presence in major financial markets, OANDA is dedicated to providing innovative trading solutions and superior customer service.

For more information about the OANDA Prop Trader program and to participate in the $10,000 Giveaway Sweepstakes, please visit the OANDA website.

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Media Contact:

OANDA PR Team

[email protected]
https://www.oanda.com/