OANDA’s Prop Trader program has launched in South Africa, enabling self-directed traders to become signal providers for OANDA’s proprietary trading business on a profit-sharing basis. To join, traders must purchase and complete a Challenge that tests their profit and risk management skills. Successful traders can earn up to 90% of the profits they generate, with payments for Challenges accepted via credit card, debit card, and cryptocurrency.
The program, already available in countries serviced by OANDA’s Global Markets division, allows more skilled traders with limited capital to enter the financial markets. Prop trading is gaining popularity, with firms like OANDA, Axi, and Hantec Markets offering these services through offshore entities.
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OANDA’s Head of Emerging Markets noted that prop trading could outgrow the traditional FX/CFD industry due to its accessibility and lower barriers to entry.
OANDA Prop Trader also allows payment for Challenges with cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. The program, initially launched as OANDA Labs Trader, was rebranded to better reflect its offerings. Qualified traders’ signals are used to guide market positions, putting OANDA’s proprietary capital at risk.
