Review of One up trader

[oilfutures2017]

I may have my wife try them out I actually don't really have time to concentrate on a demo account right now I manage (2) of my accounts options and futures and my kids long term account which actually takes alot of my time. Sometimes missing entries in my futures account. Yes that is the fact most people will fail at these combines but as you have said so far at their current business model you have a decent chance of being paid at OneUp for now. Can I ask what commissions and fees they are charging you?

I'm more of a positional swing trader at heart, so my trades are planned in advance, and I usually use limit orders to execute strategies, ideally around MM stop run areas. Sometimes it takes many many hours to get a fill, sometimes I completely miss out. I say this because I also trade separate personal accounts but that it's easier for me to manage an additional oneup one due to the aforementioned -- kind of like having multiple browser tabs open simultaneously and you only adjust occasionally.

To answer your question, the main fees you should be concerned with are monthly account fees + commission. Mes Capital covers the account fee whereas TopStep separately charges you $85 per month for every market you trade in. For me with CL it's $4.72 commission per round trip per contract and you can look up their commission schedule for other instruments on their website under 'funded trader commissions'. That's about the same price as I pay with TD Ameritrade so it's pretty fair in my opinion.

 

[TraderMat]

I withdrew money from them too. I cannot mention who the seeder is as I signed a contract, you better hope they don't find out who you are. However, I received the money a day after. I have no problem with my seeder. oilfutures2017, I am a professional trader with over 20 years experience. I hear what you're saying and fyi it's normal prop business. How do they measure risk if they don't do what they do. This is my first post and I like OneUp and like the prop company i'm trading for. I just want to also mention something that's totally different from TST. I personally never took TST b/c a friend of mine had a very bad experience with them and you can find hundreds of videos online that share the same reason.

- TST withdraw the drawdown after 10 days! That means if you are trading a $100k account and make $200 after 10 days, then that becomes your drawdown. Seriously!
- TST require you to trade on their schedule and you must participate and trade in the chatroom. They breathe down your neck whenever in a position.
- TST kicks you out whenever they feel like it for no reason.
There are many other reasons including the silly weekly drawdown, chatroom only trading, if they call you and you don't pick up your out!
As for the partners of OneUp, I haven't heard a word from them. Not sure if it's only me, but perhaps oilfutures2017 can confirm that for us.

I just had to share my experience and hope it helps you guys.

 

[caacapital]

I like the fact that people are getting paid and the requirements at one up are straight forward I just don't think the trader friendly model will last the topstep super trader mode will generate more income for these type of unregulated companies. Think about it they have rich people looking for traders with a 15 day track record to trade $50-$150k of their money only want a 20% cut of the winnings, don't require the funded traders to have a license or really know anything. If you look at any hedge fund startup story you will the stark difference in what they have to do in order to get rich clients such as a 3+ year track record of profitability, regulations, ability to contact you about any trade you have on, etc. again while they are paying it doesn't matter unless you have a strategy where you try to test the bias of the markets with limit orders.

 

[EdLizarazo]

I started an evaluation with OneUp [AKA MES Capital] at launch. I passed the evaluation and consequentially received a live, funded, account with them. I can confirm that the DOM doesn't update liquidity which suggests that their 'live account' is actually a simulator. I'm close to $6,000 profit in their 'live' account and will update here if I actually am able to withdraw & receive the money that I have earned.

There's only two ways that I see this going down:

1) This is consumer fraud eerily similar to Nonko's demo account shenanigans but using TopStep Trader's business model as some kind of Ponzi scheme; marketing a scouting business to receive funding, signing a contract in which you're an independent contractor trading a live account -- but in reality not trading a live account. This operation would basically be OneUp cashing in on all of the evaluation money without ever taking real risk or offering truly funded accounts. If OneUp ends up not paying the traders who actually do earn money, then this would be very dangerous for those involved in this operation as it would involve the FTC, SEC, authorities, and lots of court cases/jail-time.

2) Alternatively, their business model is to take in money from evaluations with the premise that most traders, including initial funded traders, end up failing almost immediately by hitting the draw down. As a result, they legitimately pay out the ~3% of successful funded traders from the profits taken in from the ~97%+ failed test-takers/initial funded accounts. In this way, successful funded traders still can earn legitimate money, but they're still only trading simulated accounts.

At any rate, I want to reiterate for emphasis that their live account isn't live. It's the same simulator as their evaluation. Time will tell whether or not successful funded traders can legitimately withdraw money or not.

Hi my friend! How are you going with them?? Are you good at your evaluation??

 

[EdLizarazo]

I have the $150,000 account so my withdrawal threshold is $5,000 and since you can only withdraw in amounts of $1,000+, I won't be able to determine if this is 'real' until I hit that $6,000 threshold and request the payout.

As of now, though, these are the facts: I'm 100% certain that new funded traders initially begin on demo. I'm 100% certain that the contract authorizes OneUp to switch funded managed accounts between live and demo at their discretion. I'm 100% certain that OneUp's contract entitles compensation based on whether you traded truly live OR demo.

This is completely theoretical, but I'd imagine the model works something similar to this:

~80% of attempts fail the evaluation stage. OneUp basically profits 100% to their bottom line from evaluation fees + reset fees.
~15% of attempts that pass the evaluation stage end up imploding the funded account. OneUp doesn't make money or lose money on these traders because it's actually demo.
~5% of attempts pass the evaluation stage and end up being profitable in the live account. OneUp loses money on initial payouts. Once that trader begins withdrawing consistently, they're moved to the 'real' live account because they've essentially proven themselves and OneUp will earn this payout back from the 20% live commissions.

So, to break this down into numbers, say we have 100 attempts for simplicity:

~ 80 people pay around $362.5 and fail. [I calculated this number by taking their lowest fee, $125 a month, and highest fee, $650 a month, and divided it by 2 to figure out their 'average' fee. I then added $100 for one reset of account. Obviously this is going to fluctuate greatly from variables such as 1) how many months people are paying for because it's a monthly recurring subscription 2) how many resets they're activating 3) how many people are opting for the $125 account versus the $375 account (as an aside, in my opinion, given the parameters, the best chance at success is trading small size in the $375/$150000 account), etc.] Anyways, based on such simple calculations, that's at least $29,000 profit brought in.
~ 20 people are funded but 15 of those people end up blowing up their account.
~ 5 people are funded, actually reach the withdrawal threshold, and withdraw money while still in demo.

So, those 5 traders total would each have to earn the $5,000 withdrawal limit and another $5,800 on top of that for OneUp to break-even. However, I am more inclined to believe that OneUp will move you from demo to live if you start hitting profit targets as it implies that you actually are a proven trader with a statistical market advantage [you would basically have made over $10,000 trading in 1-3 months, similar in time and scope to TopStep's program of Combine + Funded Trader Preparation].

Tell us when you cam withdraw!

 

[SoesWasBetter]

https://www.valforex.com/2017/07/topsteptrader-review-scam-akin-to-gambling.html

I must live a charmed life. I never even heard of these con games.

Guess I'm too busy trading a real account with my own money. Yeah , I know, not too many of those here at et

 

[Xela]

I withdrew money from them too.

Says yet another brand new, first-time poster.

Funny how almost everyone recommending OneUp, here and elsewhere, is a brand new member.

And how their experiences differ so much in every way from those of any longstanding members who have already earned any credibility and respect.

- TST kicks you out whenever they feel like it for no reason.

That's malicious, defamatory bullshit. At least it clarifies your agenda, though.

 

[EdLizarazo]

https://www.valforex.com/2017/07/topsteptrader-review-scam-akin-to-gambling.html

I must live a charmed life. I never even heard of these con games.

Guess I'm too busy trading a real account with my own money. Yeah , I know, not too many of those here at et

Thanks for the info! By the way, I've heard about some funding companies, 'cause here un latin america it's kind of difficult to get the money for a decent account, so that's why guys like me are looking for some funding, to get an account to be profitable and trade without expensive loans. It's knid of sad, but it's the true!

 

[oilfutures2017]

Tell us when you cam withdraw!

There are a few updates that I want to mention.

1) In regards to your comment, I would suggest that you read through this thread in its entirety; I have already posted various comments throughout this thread relating to your question. To summarize, yes, I have confirmed withdrawal(s) with OneUp, and yes, they are [thus far] legitimate.
2) Furthermore, I have actually withdrawn multitudes of times with OneUp and received the withdrawals same-day via wire transfer without a problem.
3) To be quote honest, I'm not sure when this happened, but I can confirm that my 'funded' account was converted from 'demo' to 'live'. I am confident in this because liquidity now updates appropiately in the DOM whereas it didn't in the past. To reiterate for emphasis, I'm not exactly sure when this actually occurred, but assume this occurred after I had proven consistency/withdrawn a sufficient amount of capital. This is very meaningful because it solidifies the fact that OneUp has a verified pool of trading capital to be used as a resource for funded traders; by extension, the entire business is indeed legitimate.

From my experiences thus far, OneUp appears to operate as I had suggested throughout this thread, and that is that only the cream of the crop -- the top 3% -- actually move on to be 'truly funded'. The others, who can't manage money, simply fail.

 

[oilfutures2017]

https://www.valforex.com/2017/07/topsteptrader-review-scam-akin-to-gambling.html

I must live a charmed life. I never even heard of these con games.

Guess I'm too busy trading a real account with my own money. Yeah , I know, not too many of those here at et

I also trade my own personal accounts but because of OneUp now have access to ~$45,000 in contracts [15 lots of position size] that I did not possess prior to becoming a funded trader with them. What did I have to do to access this? Simply paying a small, incredibly immaterial, fee and about a month of time. To date, I've already generated over a 1,000% ROI from my initial fee with them and it has only been a month.

Main point: Trading your personal account is not mutually exclusive with simultaneously operating a funded account at TsT/OneUp.