OANDA Prop Trader updates: Streamlined Challenges, simpler rules, greater opportunities to win

Prop trading can be a challenging journey, so at OANDA Prop Trader we're always looking for ways to make it more accessible and rewarding for you. We've heard your feedback loud and clear, and we've been working behind the scenes to update our program to help you become a Signal Provider faster. Your success is our top priority, and that's why we're excited to announce some major changes to our Challenge options and trading rules.

From November 03, we’re rolling out several important updates designed to streamline Challenge options and simplify rules, so that you can pass the evaluation phase and be on your way to earn profits sooner.

Here’s a quick look at what’s changing, and more importantly, how these changes can benefit you.

We’ve simplified our offering from two account types and 11 plans to six, making it easier for traders to choose the Challenge that best fits their budget.

The new lineup is as follows:

• $5,000
• $10,000
• $50,000
• $100,000
• $200,000 (NEW!)
• $500,000

We've removed the $25K, $188K, and $250K Challenge accounts, leaving you with fewer, more focused options to help you make a decision more easily. For those who currently have an active $25K, $188K, or $250K Challenge, you will still be able to keep your Challenge until you complete it.

Our remaining six Challenges, starting from $5k, still offer plenty of room for you to scale up. We've also introduced the $200K Challenge, which provides a new middle ground between the $100K and $500K funding options.

Benefit for traders: Overall, the updates to our challenge offerings will provide you with a more focused and straightforward experience.

These key changes will apply to all New Challenges purchased after 03 November 2025 except the $500K Challenge.

• Old: 8% in Phase 1
• New: 5% in Phase 1

To help you succeed, we've reduced the Phase 1 profit target from 8% to 5%. This change is designed to reward disciplined trading and help you build momentum towards your ultimate goal.

Benefit for traders: This lower, more achievable goal means you can reach the Signal Provider status with less pressure, as long as you stay focused and consistent with your trading strategy.

• Old: 5% in Phase 1
• New: 2% in Phase 1

The daily maximum profit limit, also known as the consistency rule, is being adjusted from 5% to 2% in phase 1. When this limit is reached, all open trades in your account will close, and you can resume trading the next day. Please note that this rule applies only during the Challenge stage.

This rule has been proven to encourage sustainable results with proper risk management controls. By capping daily profit at 2%, we're helping you maintain steady growth and avoid the unnecessary risks associated with trying to hit a large daily target. This leads to better financial outcomes and a more stable trading journey.

Benefit for traders: The new, lower daily profit cap aligns perfectly with the reduced 5% profit target for Phase 1. This change encourages stable growth rather than high-risk, volatile spikes. By having the daily profit limit for both Phase 1 and Phase 2 aligned at 2%, it is now simpler to monitor and keep your trading within the limits, allowing you to focus on a disciplined and profitable strategy.

• Old: Based on 5% of the previous day’s account end-of-day equity
• New: Fixed at 5% of the account’s initial starting balance

The daily loss limit has been updated from being based on 5% of the previous day’s end-of-day equity to being a fixed 5% of the account’s initial starting balance. The daily loss limit is the maximum amount your account can lose on any given day. The daily loss limit will not be adjusted within the day. This means that even if your account is in profit, it will not change the daily loss limit on that day.

Benefit for traders: The new rule is simpler, clearer, and more predictable. Instead of having to recalculate based on the previous day's performance, you always know exactly what your risk boundary is at the start of the trading day.

• Old: Trailing 10% from high-water marks
• New: Static 10%

We are updating the maximum drawdown limit from a trailing 10% to a static 10%. This maximum drawdown is the maximum amount a trader can lose before the account is closed.

Previously, the trailing drawdown was linked to your high-water mark, which fluctuates as your account grows. This requires you to constantly track your account balance to avoid hitting the drawdown level.

Benefit for traders: A static drawdown provides a fixed level, which makes monitoring easier. It will give you more breathing room, as your risk limit won't change when your account grows. This allows you to focus on your strategy rather than trying to keep track of a moving limit, giving you a larger buffer and a more stable trading experience.

This applies to all existing challenges and new challenges purchased after 03 November 2025.

News trading is restricted in both challenge and Signal Provider accounts. Due to the high volatility and risk involved, this is seen as an unsustainable strategy that doesn't reflect a trader's true skill or ability to manage risk.

Previously if traders open or close trades 2 minutes before and 2 minutes after the news release (news trading window), they will face a soft breach at the challenge phase. Whilst you can have unlimited soft breaches at the challenge phase, you will lose your Signal Provider account once you accumulate 3 soft breaches.

Benefit for traders: With this update, trades placed within the news trading window will now be rejected. The account will not be penalised further. This change essentially eliminates the risk of account termination due to news trading for Signal Provider accounts.

Our $500k Challenge remains in a class of its own, reflecting its unique scale and structure. The rules for this Challenge remain unchanged for now as it continues to offer traders the ultimate test of discipline and opportunity. Access to a $500,000 virtual capital account is granted only upon successful completion of the $500K Challenge. The higher the stakes, the higher the rewards.

At OANDA Prop Trader, we constantly look at ways to improve the trading experience for traders of all levels by providing better tools, greater flexibility, and more opportunities. Let’s take a look at other key program upgrades this year:

We revised our pricing model for FX and metals. The revised pricing model helps traders benefit from significantly tighter spreads (starting from 0.1 on gold) and only a fixed commission starting from USD7 per round lot. We created more opportunities for prop traders by increasing our forex offering with six new currency pairs: USD/PLN, EUR/PLN, USD/CZK, EUR/CZK, EUR/HUF and USD/HUF.

Our latest updates are designed with one goal in mind: to make prop trading simple and to make our 2-step Challenge the clear choice for prop traders worldwide. Whether you’re scaling up with our new $200k challenge or taking advantage of simplified rules, we believe these changes will help traders like you trade with more confidence, clarity, and consistency.

At OANDA, we're more than just a prop trading platform – we're your partner in success. These changes show our commitment to constantly improving and being responsive to your needs.

For the details of the updates, head over to our updated rules here.

Ready to take your prop trading to the next level?

Take up one of our Challenges today!