If you’re a trader looking for funding, you may have come across Overview Funding Program (OFP). This prop firm offers an alternative to traditional trading platforms by providing traders with sizable capital and a focus on risk management. But is OFP the right choice for you? In this OFP funding review, we’ll take a closer look at what this company has to offer and help you determine if it’s worth your time and investment.
Founded in February 2022, OFP has quickly gained a reputation as a serious company that offers innovative funding alternatives. With OFP, traders have the chance to be funded up to £5M risk-free, without the need for contracts or challenges. This is a significant advantage over other prop firms that require traders to sign contracts and meet specific profit targets. Additionally, OFP offers demo accounts so traders can test their strategies before committing real money.
OFP prides itself on its efficient customer service and fast payouts, with over 85% of clients reporting satisfaction. However, it’s important to note that success with OFP requires a focus on risk management and a strong trading strategy. In this review, we’ll dive deeper into the features and benefits of OFP and help you determine if it’s the right choice for your trading goals.
Overview of OFP Funding
If you are a trader looking for an alternative to traditional prop firms, OFP Funding may be worth considering. OFP Funding is a direct financing company that offers traders the opportunity to trade with sizable capital without the need for contracts or challenges.
Founded in February 2022, OFP Funding has quickly gained a reputation for its innovative funding alternatives and focus on risk management. Unlike other prop firms that base their models on challenges, verifications, and profit targets, OFP Funding allows traders to trade with leverage ratios of 1:100 in every purchasable account. This is significantly higher than what is offered by instant funding prop firms that typically offer leverages between 1:10 and 1:30.
OFP Funding also provides traders with demo accounts, which do not require any contracts to be signed. This allows traders to test their strategies and become comfortable with the platform without committing to anything. Once traders are ready to start trading with real capital, they can sign a contract and get funded.
One advantage of OFP Funding is that it is part of OverviewFX Ltd, a limited company. This provides traders with added security and transparency, as OFP Funding provides daily and monthly testimonials and statistics about their traders. Interviews and reviews are also posted daily on the official channels. All OFP traders have the possibility to chat in the “Discord” channel, sharing their daily experiences with everyone.
In summary, OFP Funding is a financing company that offers traders an alternative to traditional prop firms. With innovative funding alternatives, high leverage ratios, and a focus on risk management, OFP Funding may be worth considering if you are a trader looking for a direct financing company that provides added security and transparency.
Trading Platforms
When it comes to trading platforms, OFP Funding offers the popular and widely used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Both platforms are known for their user-friendly interface, customizable features, and advanced charting tools.
MT4 and MT5
MT4 is a popular trading platform that has been around for over a decade. It is known for its stability, speed, and ease of use. MT5, on the other hand, is a newer version that was released in 2010. It offers more advanced features, such as the ability to trade different asset classes, including stocks and futures.
Both MT4 and MT5 offer a wide range of technical analysis tools, including indicators, charting tools, and customizable templates. They also allow traders to automate their trading strategies using Expert Advisors (EAs) and other automated trading tools.
Copy Trading
In addition to MT4 and MT5, OFP Funding also offers copy trading. Copy trading is a popular feature that allows traders to automatically copy the trades of other successful traders. This can be a great way for novice traders to learn from experienced traders and improve their trading skills.
OFP Funding’s copy trading feature is easy to use and offers a wide range of options. Traders can choose to copy the trades of other traders manually or automatically. They can also set their own risk management parameters, such as stop-loss and take-profit levels, to ensure that they are comfortable with the level of risk involved.
Overall, OFP Funding’s trading platforms offer a wide range of features and tools that can help traders improve their trading skills and achieve their financial goals. Whether you are a novice trader or an experienced professional, OFP Funding’s trading platforms are worth considering.
Funding Program Details
If you are considering OFP Funding, it is crucial to understand the details of their funding program. This section will cover the instant funding, drawdown rules, and payout rules.
Instant Funding
One of the defining characteristics of OFP Funding is its instant funding program. With OFP Funding, you can get funded up to £5M risk-free without any contract to be signed. This is a significant advantage compared to other prop firms that offer instant funding, as they usually offer leverages between 1:10 and 1:30. OFP Funding, on the other hand, offers a leverage of 1:100 in every purchasable account.
Drawdown Rules
Drawdown is the percentage of your account balance that you lose during trading. OFP Funding has strict drawdown rules to ensure that traders do not lose more than they can afford. The drawdown limit for the OFP Funding program is 10%. If you violate the drawdown limit, your account will be suspended, and you will need to pass a second evaluation before you can continue trading.
Payout Rules
OFP Funding has a unique payout structure that rewards traders who perform well. The payout structure is based on a profit split, where traders receive a percentage of their profits. The profit split percentage varies based on the account size, and it ranges from 50% to 80%. The payout is made on a monthly basis, and there is no limit on how much you can earn.
In summary, OFP Funding offers instant funding with leverage of 1:100 in every purchasable account. They have strict drawdown rules to ensure that traders do not lose more than they can afford and a unique payout structure that rewards traders who perform well. It is crucial to understand these details before you start trading with OFP Funding.
Trading Conditions and Rules
When it comes to trading conditions and rules, OFP keeps it simple with just three rules that need to be followed to get a payout. These rules are designed to ensure that traders are consistent and avoid excessive risk-taking. In this section, we will go over the equity and balance requirements, as well as the trading rules and restrictions that you need to be aware of.
Equity and Balance
To be eligible for funding, neither your equity nor your balance can be less than your daily maximum balance minus the account margin. The account margin is 5% of your initial deposit balance. This means that you need to maintain a certain level of equity and balance in your account to avoid being disqualified from the program.
Trading Rules and Restrictions
In addition to the equity and balance requirements, there are certain trading rules and restrictions that you need to follow to be eligible for funding. These rules are designed to ensure that you are consistent in your trading and avoid excessive risk-taking.
Firstly, you need to trade for a minimum of 15 days in a calendar month to be eligible for a payout. This means that you need to be consistent in your trading and not take extended breaks from the markets.
Secondly, you need to maintain a Trader Value Score of at least 70% to be eligible for a payout. This score is calculated by taking the profits of your most profitable trading day and dividing it by your PnL of the current month (the sum of all your Profits and Losses calculated from your last payout). This score is designed to encourage consistency in your trading and ensure that you are not taking excessive risks.
Finally, there are certain trading restrictions that you need to be aware of. For example, you cannot trade on weekends or public holidays. You also cannot trade certain instruments, such as penny stocks or forex pairs, that have a spread greater than five pips.
Overall, OFP’s trading conditions and rules are designed to ensure that traders are consistent and avoid excessive risk-taking. By following these rules, you can increase your chances of being eligible for funding and achieving your trading goals.
Profit Split and Targets
Profit Split Overview
When it comes to OFP Funding, there are two types of accounts available: the instant monthly account and the profit split account. The instant monthly account offers a profit split of 26% to 40%, depending on the account size. On the other hand, the profit split account offers a 60% profit split to start, which increases up to a maximum of 90% as traders make successful withdrawals.
While the instant monthly account may seem like a better option due to the higher profit split, it’s important to note that there are no profit targets for traders to meet. This means that traders may not be motivated to perform at their best, as they are not required to meet any specific profit goals.
The profit split account, on the other hand, offers a higher starting profit split and encourages traders to perform at their best in order to increase their profit share. This can be a great motivator for traders who are looking to maximize their earnings.
Profit Targets
As mentioned earlier, the instant monthly account does not require traders to meet any profit targets in order to withdraw their profits. This means that traders can withdraw their earnings at any time, regardless of how much profit they have made.
The profit split account, however, does require traders to meet profit targets in order to increase their profit share. These targets are set based on the account size and can range from £1,000 to £10,000 per month.
Meeting these profit targets can be a challenge, but it can also be a great way for traders to push themselves and achieve their goals. Additionally, meeting profit targets can lead to higher profit shares, which can be a great motivator for traders.
Overall, OFP Funding offers two different account types with different profit split options and profit targets. Traders should carefully consider their goals and trading style when choosing which account type to pursue.
Customer Support and Service
When it comes to OFP Funding, customer support and service are top priorities. The company has a dedicated team that is available to assist you with any questions or concerns you may have.
Support Team
The support team at OFP Funding is knowledgeable and responsive. They offer multiple channels for you to reach out to them, including email, Discord chat platform, and a question submission form on their website. You can expect a prompt response to your inquiries, and the team is always happy to help.
Customer Service
OFP Funding prides itself on providing excellent customer service. They understand that every trader’s needs are unique, and they strive to provide personalized support to each of their clients. Whether you need assistance with funding your account or have questions about their trading programs, the customer service team is always available to assist you.
In addition to its responsive support team and excellent customer service, OFP Funding also offers a comprehensive FAQ section on its website. This section covers a wide range of topics, from account funding to trading strategies, and is a valuable resource for traders of all levels.
Overall, OFP Funding’s commitment to customer support and service is impressive. Their knowledgeable support team, personalized customer service, and comprehensive FAQ section make them a top choice for traders looking for a prop trading firm that values their clients.
Pricing and Costs
When it comes to pricing and costs, OFP Funding offers a transparent and competitive fee structure. The company charges a one-time fee for account activation, which varies depending on the account size. The activation fee ranges from £99 for a £5,000 account to £499 for a £100,000 account.
In addition to the activation fee, OFP Funding charges a monthly subscription fee, which is based on the account size. The monthly fee ranges from £49 for a £5,000 account to £249 for a £100,000 account.
It is important to note that there are no hidden fees or commissions charged by OFP Funding. The company operates on a transparent fee structure, which means that traders can easily calculate their costs and profits.
When it comes to transactions, OFP Funding offers instant funding with a variety of account currencies, including USD, EUR, and GBP. The company also offers a 1:100 leverage in every purchasable account, which is higher than the industry standard.
Overall, OFP Funding’s pricing and costs are competitive and transparent, making it a great option for traders looking for a reliable prop trading firm.
Additional Resources and Training
If you’re looking to improve your skills and knowledge in trading, OFP Funding offers additional resources and training to its traders. These resources include training materials and webinars that can help you enhance your trading strategies and stay up-to-date with the latest market trends.
Training Materials
OFP Funding provides its traders with various training materials, including ebooks, trading guides, and video tutorials. These resources are designed to help traders understand the basics of trading, as well as more advanced strategies. You can access these materials through the OFP Funding website or by contacting their support team.
The training materials cover a wide range of topics, including risk management, technical analysis, and trading psychology. They are designed to be easy to understand and follow, even for traders who are new to the industry.
Webinars
OFP Funding also offers webinars to its traders, which are hosted by experienced traders and market experts. These webinars cover a range of topics, including market analysis, trading strategies, and risk management.
Attending these webinars can be a great way to learn new trading techniques and stay up-to-date with the latest market trends. You can also ask questions and interact with other traders during the webinars, which can help you gain new insights and perspectives.
Overall, the additional resources and training offered by OFP Funding can be a valuable asset for traders who are looking to improve their skills and knowledge. Whether you’re a beginner or an experienced trader, these resources can help you stay ahead of the curve and achieve your trading goals.
Review and Credibility
When considering a prop trading firm, it is important to research and evaluate its credibility and reliability. OFP Funding has received positive reviews on Trustpilot, a website where customers can share their experiences with businesses. Additionally, OFP Funding is transparent about its funding program and trading parameters, which adds to its credibility.
Trustpilot Reviews
One effective way to determine the reliability of a prop trading firm is to read reviews from other traders. On Trustpilot, OFP Funding has an overall rating of 4.6 out of 5 stars, with over 200 reviews. Many traders have praised OFP Funding for its fast payouts, efficient customer service, and flexible trading parameters. Some traders have also shared their success stories with OFP Funding, which adds to the firm’s credibility.
Credibility and Transparency
OFP Funding is transparent about its funding program and trading parameters, which is a positive sign of credibility. The firm’s philosophy is to allow traders to trade their own strategies without the bias of challenges, verifications, or profit targets. OFP Funding provides lenient trading parameters, which gives traders the flexibility to trade their own way. Additionally, OFP Funding is transparent about its fees and payout structure, which adds to its credibility.
In conclusion, OFP Funding has received positive reviews on Trustpilot and is transparent about its funding program and trading parameters, which adds to its credibility. If you are looking for a prop trading firm that is reliable and transparent, OFP Funding may be worth considering.
Assets and Markets
When it comes to trading with OFP Funding, you have access to a variety of assets and markets. In this section, we will take a closer look at the assets and markets available.
Forex
Forex, also known as foreign exchange or FX, is one of the most popular markets for traders. OFP Funding offers forex trading with over 50 currency pairs, including major pairs such as EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs. With OFP Funding, you can trade forex 24/7, with no restrictions on short selling.
Crypto
Cryptocurrencies have become increasingly popular in recent years, and OFP Funding offers trading in this market as well. You can trade Bitcoin, Ethereum, Litecoin, and other cryptocurrencies with OFP Funding. Trading in the cryptocurrency market can be highly volatile, so it is important to understand the risks involved.
Overall, OFP Funding provides a good selection of assets and markets for traders. Whether you are interested in forex or cryptocurrencies, you can find opportunities to trade with OFP Funding.
Risk Management and Tools
Risk Management Strategies
When it comes to trading, risk management is one of the most crucial aspects that you need to consider. OFP Funding understands this and has implemented several risk management strategies to ensure that traders can minimize their losses and maximize their profits.
One of the strategies that OFP Funding uses is to require traders to set up stop-loss orders. This helps to limit the amount of money that traders can lose on any given trade. Additionally, OFP Funding also provides traders with access to a risk management dashboard that can help them monitor their trading activity and identify potential risks.
Trading Tools
OFP Funding provides traders with a range of trading tools that can help them make informed trading decisions. One of the most popular trading tools that OFP Funding offers is the Overview Funding Program (OFP). This program allows traders to trade with sizable capital, which can help them take advantage of trading opportunities that they might not otherwise be able to access.
In addition to the OFP, OFP Funding also provides traders with access to a range of other trading tools, including technical analysis tools, news feeds, and economic calendars. These tools can help traders to stay up-to-date with market developments and make informed trading decisions.
Overall, OFP Funding’s risk management strategies and trading tools are designed to help traders minimize their risks and maximize their profits. Whether you are a new trader just starting out or an experienced trader looking to take your trading to the next level, OFP Funding has the tools and resources you need to succeed.
Final Thoughts
Overall, OFP Funding offers a user-friendly platform with a lot of flexibility for traders. The company’s transparent payout system is a standout feature, allowing traders to earn based on their performance. The dual payout system caters to different trader preferences and offers a fair and equitable distribution of profits.
The lack of a contract requirement is also a plus, as it allows traders to test the platform with demo accounts before committing to a funded account. The ability to choose from three possible account currencies is also a nice touch, providing more flexibility for traders.
While OFP Funding’s leverage ratio of 1:100 may not be as high as some other prop firms, it still offers a reasonable amount of leverage for traders. The average break-even is also relatively low, making it easier for traders to turn a profit.
Overall, if you’re looking for a prop firm that offers a user-friendly platform, flexible payout options, and a transparent payout system, OFP Funding is definitely worth considering.