Screenshot_8.png

AN INSIGHT
TO DAY TRADING

LIVE ACCOUNT PROVIDERS – ONEUP TRADER REVIEW



MISSION STATEMENT

Our mission is to enable driven individuals to become fully funded traders. We believe funding successful traders represent a critical foundation in the pursuit of financial and professional independence.


ABOUT

In 2016 MES Capital joined forces with OneUp and went live with their new platform during summer 2017. Maintaining their philosophy of simplicity, community and transparency the company requires only one step in the qualification process, puts large efforts in delivering space where the OneUp community can exchange as well as a no hidden fees promise.


OneUp supports their community through the advanced user interface and Discord server which is exclusively available for funded traders. The OneUp dashboard is unique among the funded account providers and contains an internal social network where the community can share, like and comment other trader’s contributions as well as participate in live chats. Further, the dashboard includes market news, an economic calendar and live streaming. In addition, it also provides extensive analyses tools including advanced trading statistics, visual depth statistics and target goal metrics.


ACCOUNT TYPES

OneUp Trader offers 5 different account types ranging from $25k to $250k account size.

QUALIFICATION PROCESS

OneUp Trader requires a minimum of 15 trading days in the qualification process. They may be consecutive or non-consecutive, but it must be 15 active trading days in total.


The maximum position size, profit target and daily loss limit respectively trailing drawdown depends on the initially chosen account. In that regard, a trader may hit the daily loss limit and is blocked for that day but keeps the account as long as the account does not hit the maximum trailing drawdown. Should a trader also hit the maximum trailing drawdown the account will be liquidated.


However, traders can also reset their account for a fee of $100 and start the evaluation process from the beginning. OneUp has guidelines concerning their permitted trading times and trades must be exited before market closing. Holding a trade over night is not allowed. Instruments in the evaluation process are futures by the CME Group including the exchanges CME, NYMEX, COMEX and CBOT. In order to ensure a successful qualification process, a trade must have a profitable trading approach. The UC Trading order flow trading course provides all relevant elements as well as individual assistance to pass the OneUp qualification.


LIVE ACCOUNT

Once the qualification targets have been met, the trader receives a contract to sign and a live account with the same account size as the earlier evaluation. The live account implements a 80/20 respectively 50/50 profit split depending on the earlier chosen preference. One Up provides a quick start bonus where traders can keep 100% of the first $8000 (80/20 split) respectively $5000 (50/50 split) they generate.


After a trader has been funded, the restriction with regards to time are lifted and traders can hold positions over night. However, all other guidelines concerning the daily loss limit and maximum drawdown remain valid and must be respected. Should a trader violate the maximum trailing drawdown the account gets terminated and the trader needs to start with the qualification process again.


Traders who received a funded account can trade all major exchanges from the CME Group allowing to participate in commodity markets, energy futures, Forex futures as well as bond futures and are free from monthly account maintenance and data feed fees.


OPINION

The OneUp Trader review illustrates a good selection of account choices with common account sizes in the industry. However, their USP is their dashboard including an internal social network and community platform. Some may see a like-minded community as a clear advantage but it also may implement disadvantages especially for beginners. A community is not only a place for a potentially constructive exchange but also a place for distraction. Especially new traders tend to look for solutions for their own trading problems in other traders instead of focusing on their own trading. Looking at others is a way of giving responsibility to someone else rather than taking responsibility for the own trading and behaviour. Consequently, if a trader joins a community it always should be done with a reasonable distance.


Nevertheless, OneUp’s dashboard does not only provide access to their community but also provides great tools to analyse trades which may help in improving the own trading approach and, as a result, become a better trader.


Moreover, One Up live accounts come at zero costs – no account maintenance fees and no data feed fees which is a great benefit with One Up. Also, their trading rules are reasonable and leave traders space to implement their individual trading approach.


Finally, even though their dashboard functionality is unique, I would probably not spend too much in time in their internal network and even the trade analysis tools are nice to have I would prefer creating an own trade analysis sheet via Excel. That provides unlimited opportunities to individualise the analysis parameters with regards to the personal trading parameters. Still, the fact they do not charge any fees for live accounts is, from my point of view, their main advantage since most other account providers like TopStep or Earn2Trade charge tremendous data feed fees giving OneUp a clear advantage in that regard.