Only Funds Review – Can This Be Your Reliable Choice in Prop Trading?

Are you on the lookout for a platform that extends traders the opportunity to engage with larger capital? Then, OnlyFunds is the place to be. Through their rigorous evaluation process, successful traders unlock access to newfound funding prospects. 

However, the question remains: is OnlyFunds a reliable platform? Can you rely on its customer support when you encounter hurdles? Are there refundable fees available? Which account type proves most profitable? We’re here to provide all the answers. Stick with us as we delve deeper into what OnlyFunds has to offer and how it can elevate your trading methods.

User Feedback

Mixed OnlyFunds reviews are present, with a diverse range of perspectives, with users expressing both praise and criticism, but the majority of feedback is positive. Many traders commend the platform for its prompt payout processing, transparent rules, and exceptional customer support, often likening its professionalism to the esteemed platforms in the market. 

They highlight the refreshing reliability and efficiency experienced while trading with OnlyFunds, expressing gratitude for a seamless and trustworthy platform. Conversely, some users voice frustrations over delayed responses and difficulties accessing their accounts, leading to feelings of disappointment and inconvenience. 

Despite these mixed statements, Only Funds trading maintains a commendable Trustpilot rating of 4.1, based on over 60 reviews, indicating a generally positive reputation among traders. Steer clear from brokers that don’t possess a regulatory license and user reviews, such as STB Markets Review. 

Challenge

The platform provides traders with diverse challenge types tailored to suit their preferences and trading objectives. Among these options, the HFT Account stands out, offering both Stage 1 and Stage 2 evaluations. In these stages, traders can choose their starting capital, ranging from USD 50,000 to USD 300,000.

Each stage within the HFT Account evaluation process comes with its own set of parameters. These include:

• Trading Period
• Minimum Trading Days
• Leverage
• Maximum Daily Loss
• Maximum Overall Loss
• Profit Target
• Refundable Fee

Traders have the flexibility to select the stage that aligns best with their trading strategies and goals. Despite these differences, one commonality among all HFT Account evaluations is the non-refundable nature of the evaluation fee.

For traders opting for a more standard evaluation process, the Standard Account is available with only the Stage 2 option. All amount types provide an unlimited trading period. However, they differ in their refundable fee structures. OnlyFunds Trader type allows traders to choose from a range of refundable fees, starting from USD 149 and going up to USD 1,449, depending on their preferred evaluation package.

Regardless of the Only Funds challenge account type chosen, traders can benefit from clear and transparent rules, ensuring a level playing field for all participants. The availability of various evaluation types empowers traders to select the option that best suits their trading style, risk tolerance, and financial capabilities. 

Which HFT Option Is Most Profitable?

Among all options, the Stage 1 HFT account with USD 300,000 capital stands out as the most lucrative option. Despite higher maximum daily and overall loss limits, the profit target of USD 30,000 offers substantial potential gains.

While Stage 2 accounts provide extended trading periods and slightly lower profit targets, they also come with increased minimum trading days and similar leverage and loss limits. However, the Stage 1 HFT account with USD 300,000 capital offers the most attractive profit potential, making it the optimal choice for traders seeking maximum profitability.

Pricing

Sometimes pricing options of prop firm evaluations can be confusing to sum. We will try to put it as plainly as we can. With the HFT Account, users can choose from Stage 1 and Stage 2 evaluations, each with its own starting capital options ranging from USD 50,000 to USD 300,000. For traders seeking a budget-friendly option, the HFT Account evaluations start at USD 499, going up to USD 1,499.

In addition to the HFT Account, OnlyFunds also offers the Standard Account with the Stage 2 evaluation option. The pricing for the Standard Account evaluations ranges from USD 149 to USD 1,499, with varying refundable fee structures.

Traders have the flexibility to choose the pricing option that best aligns with their trading strategies, risk tolerance, and financial capabilities. With multiple payment methods available, including CoinPayments and credit cards, accessing and selecting the desired evaluation package is made convenient for traders of all backgrounds.

Does Only Funds Offer A Refund?

To answer it here boldly, Only Funds prop firm refund is accessible to users upon completion of the evaluation process and when they receive their initial profits and payout, applicable exclusively to the Standard account. As stated, the HFT account does not incorporate a refundable fee feature. If users don’t follow the payout regulations, they are not qualified for a refund.

Where Is The Platform Present?

Upon researching the platform’s influence, we’ve identified key domains: 

• Japan,
• United States
• Italy
• United Kingdom
• Poland

OnlyFunds provides traders with the option to utilize either the MT4 or DXTrade platforms. However, due to regulatory constraints, clients from the US are limited to using DXTrade and cannot access MT4. As a result, HFT Accounts are unavailable to US clients.

It’s important to note that while prop firms may not require regulatory licenses, they must adhere to certain laws and regulations. In the US, regulatory bodies such as the SEC and the CFTC enforce laws governing securities and futures trading activities. 

These regulations ensure investor protection and market integrity within the financial industry. Unregulated brokers only showcase problems, such as Conalp Review, and avoid them at all costs.

Customer Support

In terms of customer support, the platform assists with email and live chat. For added convenience, support is available during business hours from 8 am to 5 pm EST, Monday through Friday. 

Additionally, the OnlyFunds Discord channel is available, “OnlyFunds – Unlock Your Trading Potential,” which currently boasts a thriving community of 2,234 members. This channel serves as a valuable resource, particularly for beginners, offering a platform to connect with fellow traders, share insights, and access educational resources. 

Final Thoughts on Only Funds

To sum up, despite mixed user feedback, the platform boasts a generally positive reputation, with commendable features and even better options. Additionally, with a presence in key domains, and great customer support, OnlyFunds provides a valuable trading environment for any trader. Yet, we always advise users to collect valid data before engaging with any prop firm, evaluate all the pros and cons, and read online reviews to determine its reliability.

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