Review of One up trader

caacapital said:
The issue for me was that this was fake and they weren't doing payouts. The no liquidity displayed means that if you place a limit order that order doesn't show in the book and that is because the live account starts as a sim account. From other testimony's they still pay even though its not a live account.
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ah gotcha, not affecting the book - thanks
 
Anyone else having trouble logging into oneuptrader website? I get this phone number validation screen that tells me it will send an SMS with code for validation but nothing happens?!?
 
oilfutures2017 said:
After reviewing the contract that I signed, in fine print, it appears that OneUp has the authority to switch their 'live traders' managed accounts from 'live' to 'demo' environments at will without notifying the trader. In practicality, this is probably legal protection, and if you read in between the lines, probably means that OneUp primarily earns money from failed evaluations and that they either don't offer truly 'live' accounts or that truly 'live' accounts are reserved for people who are successful on their 'live' simulator.

Kind of like how TopStep has 'funded preparation', OneUp basically has a secondary "hidden" 'live demo'. I put that in quotation marks to emphasize that technically anyone can read the contract and discover the same information and that OneUp has done absolutely nothing legally wrong (yet). It's clear in the contract that even if you're a live trader with them that they don't have to give you a real funded account to trade.

At any rate, and how this affects most people, is that contained in the same clause is affirmation that the trader is paid compensation regardless of if they traded/performed on live or demo. So, basically, it doesn't matter that their 'live account' is demo; if you earn money within their parameters they (theoretically, remember I've not confirmed a withdrawal yet) will indeed payout. Perhaps after a few weeks or months of performance, once they trust you, then maybe you truly do go 'live' for real, but this is just my conjecture.

So, as of now, I think OneUp is following bullet point #2 in my above post; to summarize:

1) Their business model is to primarily make money off of failed evaluations and eventually find the holy grail of true talent. Nothing new here, TST does the exact same thing.
2) If you fail the evaluation, they make money. If you pass, you're essentially put on a probation period where you have to further prove yourself, but this has the caveat that you're still paid compensation as if it was real. If the trader fails at this step, no harm no foul, OneUp takes no risk, liability, or realized losses.
3) This is conjecture, but I'd imagine that eventually, after you have proven your statistical market advantage, that you truly do go live and they earn 20% commissions off of you. OneUp takes a realized loss at first [but is a far lower realized loss than having a larger quantity of live accounts implode] but has now found their 'holy grail' of trading talent -- the 3% -- and they move them to a real account and probably begin earning 20% commissions immediately based on the trader's historic performance record.

P.S. As an aside, this is probably a better business model to find real trading talent because it takes out of the equation all of the failed traders from the evaluations and all of the failed traders who essentially got lucky for a funded account only to immediately implode it. It's, in my opinion, a pretty effective approach to make money on the journey of finding the cream of the crop of traders.
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I think you have the right idea! I just recently started my Evaluation with OneUp. Looking forward to the journey. I personally would rather be on a sim vs live. It's a lot easier mentally to trade knowing I'm on a sim, even though it really makes no difference.
 
I agree with you: "When I read some of these websites, it's like digging through a load of garbage before you get to what they're really offering."
OneUp at first looks good, but in details it is no so obvious.
I traded through earn2trade. And i think it is very good. But i am from Russia and now they told me i cant use their service.
I think the most important also to know you trade at real market (after evalution). And of course the rules that are clear and give more room to trade freely.
I dont know any reliable company that lets to trade at real prop with simple rules.
 
stasbz said:
I agree with you: "When I read some of these websites, it's like digging through a load of garbage before you get to what they're really offering."
OneUp at first looks good, but in details it is no so obvious.
I traded through earn2trade. And i think it is very good. But i am from Russia and now they told me i cant use their service.
I think the most important also to know you trade at real market (after evalution). And of course the rules that are clear and give more room to trade freely.
I dont know any reliable company that lets to trade at real prop with simple rules.
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every futures "prop" firm employs tactics to make it harder to profit and withdraw from them; it's just that some are less shady that others.

the two main ones being the trailing drawdown based on real-time unrealized pnl and restrictions on withdrawals (having to create a buffer so that the prop firm never risks their own money with payouts, minimum # of profitable days, can only withdraw once per month/quarter/etc.)

if you must go with these, the least shady futures "prop" firm is probably e2t and tradeday.

the forex "prop" firms like ftmo have much better and easier rules but they're shady in other ways (since you're trading cfd, they will widen spreads).

since you're russian, all of the futures prop firms are out of question due to sanctions so forget about futures.
 
stasbz said:
I agree with you: "When I read some of these websites, it's like digging through a load of garbage before you get to what they're really offering."
OneUp at first looks good, but in details it is no so obvious.
I traded through earn2trade. And i think it is very good. But i am from Russia and now they told me i cant use their service.
I think the most important also to know you trade at real market (after evalution). And of course the rules that are clear and give more room to trade freely.
I dont know any reliable company that lets to trade at real prop with simple rules.
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I think TickTickTrader is in Belgium. You might check them out if you're Russian. American companies are out.
 
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