Hello there, and welcome to my OFP Funding Review.
The OFP Funding platform offers you a unique opportunity to start trading in the forex market using their capital, and here’s the intriguing part – you won’t need to go through any tests or evaluations, unlike other platforms in the proprietary trading industry.
Typically, traders are subjected to a rigorous evaluation process before securing funding elsewhere.
However, the OFP Funding process is different.
It doesn’t involve evaluations, challenges, or verification procedures.
Instead, they simply ask you to select your preferred account type and kickstart your trading journey.
This sets OFP Funding apart as a rather unconventional platform, and understandably, it raises questions about its legitimacy in the forex market.
I’m here to shed light on this matter and provide you with a thorough understanding of the platform.
In this review, I’ll break down what the program is all about, how it operates, and its pricing structure.
Furthermore, I’ll delve into its trading rules and share my opinion on whether it’s a worthwhile investment or potentially another scam.
With that said, let’s kick things off…
OFP Funding Review Summary
Product name: OFP (Overview Funding Program)
Product Type: Proprietary Firm
Evaluation Fee: Not stated
Founders: Ruggero Catalano Rossi Danielli, and Marcello Chiesa
Official Website: https://ofpfunding.com
Overall Rating: 7/10
My Recommendation: Yes, but not for everyone.
Related Review: FunderPro
OFP Funding Review – Overview
OFP Funding program claims to hold the top position in the forex market, allowing traders to join their funding program.
Their funding program does not require you to pass any test to get funded, making it one of the cheapest programs to join.
You only need to purchase your account type and start your trading journey to earn profits depending on your trading skills.
The prop firm then awards you a profit share which also depends on the account type you choose.
In a strategy to increase your account size and maximize your earnings, the prop firm allows you to enjoy its scaling plan.
The scaling plan enables you to trade with a maximum balance of up to £5 million to get the best out of your trade.
With the omission of the profit target, the prop firm aims at attracting all the traders from different parts of the world locked out due to the high targets set by other prop firms.
However, you must respect other rules set in the platform to succeed in your trading journey.
For instance, the prop firm requires you to respect a daily drawdown of 5% and a maximum drawdown of 10%.
Breaking any set rules in the prop firm leads to automatically suspending your trading account, limiting you from achieving your trading goals.
Pros Of OFP Funding
- No profit targets allow you to trade at your targets.
- Offers a lifelong account allowing you to trade for your entire lifetime.
- No stop loss is required in the platform.
- No fixed limits on the trading risk.
- Offers a scaling plan with higher payouts.
- No renewal charges on the platform.
- Offers up to five possible account currencies.
- No evaluation, challenges, or verification is required to join the platform.
Cons Of OFP Funding
- Does not offer any retry.
- They do not quote the prices of their account types.
- Still new in the forex market.
- Not a suitable option for beginners.
- Low-profit share
Who Should Join OFP Funding?
OFP Funding prop firm targets to work with promising traders who have high trading skills in the forex market.
The prop firm does not take traders through any test and, therefore, expects you to have outstanding knowledge in trading.
For this reason, you must have extensive trading experience and be at least 18 years of age to join this platform.
On the other hand, you must be consistent in your trading and observe their trading rules before you can give the prop firm a chance.
The prop firm accepts traders from all parts of the world despite being based in the United Kingdom.
You will only have to get prepared to trade with their capital and get ready to start your trading journey.
Who Are The Founders Of OFP Funding?
Ruggero Catalano Rossi Danielli and Marcello Chiesa jointly established OFP Funding, a prominent proprietary trading firm.
Ruggero Catalano Rossi Danielli holds the position of CEO at OFP Funding and also serves as the CEO and founder of OverviewFX LTD.
His partner, Marcello Chiesa, is a co-founder of OverviewFX LTD.
Driven by their shared passion for entrepreneurship, Ruggero has played a pivotal role in empowering others to achieve significant growth.
These two accomplished individuals boast an impressive track record and are committed to delivering top-notch services to their valued clientele.
What Is OFP Funding?
OFP Funding is a proprietary firm based in the United Kingdom, established in 2021.
The prop firm provides traders with risk-free opportunities that empower them to succeed in their trading journey.
According to the OFP Funding program, traders can trade in the forex market with a capital of up to £5 million.
The OFP Funding prop firm consistently enrolls an ever-increasing number of traders on their platform every month.
This creates thousands of new trading opportunities among forex traders in the proprietary trading sector.
As a strategy to ensure success for everyone, the platform provides flexibility and places its clients in front of everything they do in the trading sector.
The prop firm provides traders with up to three distinctive trading models in their platform to enable them to have more options to choose from.
For this reason, traders can make choices that suit their preferences while focusing on their trading goals.
This makes it one of the top-performing prop firms with transparent services in the forex trading sector.
This includes providing high-quality services and customer support and easy-to-use high-technology dashboards.
They have a five-star rating on their services that move around their trusted clients worldwide.
To understand more about the prop firm, let’s look at how it works.
Also Read: Clover Traders Review
How Does The OFP Funding Work?
OFP is an international trading platform that allows you to trade with their capital and earn profit share according to your account type.
All the account types provided in the platform are demo accounts which makes you worry less about the losses incurred during the trading process.
The prop firm provides instant funding with a high success ratio and payouts that aim to motivate more traders to join their platform.
In addition, the OFP Funding program does not let traders go through any evaluation process to get a funded account.
You only have to register into the platform and choose the account that suits your trading plans and goals.
The OFP Funding program has the following account types:
- 40% Instant Monthly Account
- 26% Instant Monthly Account
- 40% Instant Supercharged Account
40% Instant Monthly Account
In this account type, every trader will get a profit share of up to 40% of the total profits they earn from their trading process.
Traders are eligible for a payout every four weeks of their trading in the journey to enable traders to get motivated to make more profits.
The total earnings will therefore be received and confirmed in your account every 28 days of the month if you are active in trading and profitable.
All the account types provided in the platform enable you to have the freedom to trade at your speed.
The 40% instant monthly account has no challenge, evaluation, or verification stage to pass through in the platform.
For this reason, you will not have to pass any profit target to get funded in the 40% account types in the platform.
26% Instant Monthly Account
In the 26% Instant Monthly Account, every trader will receive up to 26% of the total profits generated from the trading process.
The money will be received and confirmed into your account every 28 days, especially if you are constantly profitable in your trading.
The account size is lifelong, allowing you to trade quickly.
Also, the prop firm doesn’t require any challenge, evaluation, or verification to get your 26% instant Monthly Account.
40% Instant Supercharged Account
In this account type, traders will qualify for an up to 40% scaling plan, the newest OFP Funding innovation program.
Hence, your account balance will increase by 40% of its initial amount on the platform weekly.
For instance, if your original account balance is £100,000, your new balance after scaling will be £140,000.
The scaling plan is every week, allowing you to rapidly grow your account to your preferred balance.
The program allows you to trade up to a maximum of £5,000,000 as your total balance on the platform.
This account type is lifelong, allowing you to trade for your entire lifetime and earn the best from your trading.
OFP Funding Trading Rules
OFP Funding has a variety of trading rules that you must observe to succeed in your trading journey.
These trading rules include the following:
Daily Drawdown 5%
The daily drawdown of the platform is set at 5%, calculated based on the original trading balance.
In this rule, a trader isn’t permitted by the company to lose more than 5% of its original account balance.
Maximum Drawdown 10%
The total drawdown in the platform is set at 10%, calculated based on the original account balance.
A trader cannot lose 10% of their original account balance while trading with the company funds.
Minimum Trading Days
The minimum number of trading days in the platform is set at three days per week.
This means that you must trade for at least three days for every seven days of a week.
In addition, a day is considered a trading day if at least one trade has been executed.
Breaking this rule will also lead to an automatic suspension of your trading account.
Profit targets
There are no profit targets set for traders on the platform, allowing traders the freedom to start trading.
Maximum trading days
All three account types available in the platform are lifelong and do not set any trading duration.
For this reason, you will only have to observe the corresponding minimum trading days to let you keep trading.
Trading leverage
The OFP Funding prop firm allows trades with an account leverage of up to 1:100.
Scaling plan
As a profitable trader, if you have made 15% + of profits in your trading journey for four consecutive months, you will qualify for a scaling plan.
In the scaling plan, you’ll receive a deposit of up to 25% of your original balance into your trading account.
Trading Instruments
OFP Funding prop firm allows traders to trade a variety of trading instruments in their platform, which include the following:
- Cryptocurrencies
- Forex pairs
- Raw materials
- Metals
- Indices
- Bonds
On the other hand, OFP Funding prop firm allows you to trade on the two major platforms, which include:
- Metatrader4
- Metatrader5
The two platforms are the most common trading programs used by many forex traders in the market.
In addition, the platforms offer a high leverage ratio of up to 1:100.
Which Broker Does OFP Funding Use?
OFP Funding uses independent ICmarkets as their trusted broker in executing their trades.
The ICMarkets broker is one of the top preferred brokers in the forex market, with a great reputation online.
In addition, the broker is trusted and regulated by several legal authorities in the forex industry.
The OFP Funding platform uses the broker to ensure 100% transparency on the trader’s funds and increase their credibility.
This makes traders worry less about their funds disappearing during their trading process with the company funds.
OFP Funding Dashboard
The prop firm provides traders with a unique dashboard for every individual to make them easily customize their trading into manageable business.
The user-friendly dashboard lets traders easily track their trading journey and discover more ways to improve their trading experience.
The newly designed dashboard used by the company therefore focuses more on security, improved beauty and appearance, and utility.
What Are The Benefits Of Joining OFP Funding?
No profit targets are set for traders on the platform.
OFP Funding platform does not set any profit target for traders in their funding programs like other prop firms.
For these reasons, you can start trading with the company capital directly without passing any test.
This makes the prop firm the best option for experienced traders who want to explore their trading skills but lack the required capital in the forex market.
All account types are lifelong.
All the account types available in the prop firm are lifelong, freeing you from the maximum number of trading days on the platform.
This allows you to trade with the account type for the rest of your lifetime if you observe the company’s trading rules.
In addition, it gives you have freedom to trade as long as you are comfortable and profitable in your trading journey.
Monthly withdrawals
The prop firm allows you to withdraw every 28 days, provided you maintain your trading with positive results.
For this reason, if you are highly profitable, you will be able to receive your funds every month to motivate you towards trading more on the platform.
In addition, the withdrawals are open for all the traders in the platform, irrespective of the account type you choose to trade with.
What Is The Cost Of Joining The OFP Funding?
The OFP Funding prop does not state the prices for its three available account types in their official platform.
This means that you will have to request their support team to let you know the price for the account type you choose.
However, the prop firm promises to make the account credentials as ready as possible immediately when you purchase your account type.
When your purchase fee is confirmed, you will get your account credentials sent via email to enable you to get started.
On the other hand, the prop firm does not talk about refunding the purchase fee back to traders on the platform.
For this reason, there is no guarantee that you will get your money refunded after joining the prop firm.
This gives you no option but to focus more on your trading journey and put more effort into achieving your goals.
OFP Funding Payouts
OFP Funding offers a payout to profitable traders in their funding program, which depends on the account type you choose.
For instance, when you trade with the 40% instant account type, you will qualify for a profit share of up to 40%.
This profit share is based on the total profits you generate in the platform for the past 28 days of trading.
For instance, if, for the past 28 days, you have managed to make a profit of £10,000, you will possibly earn a total of £4,000 into your account.
Regarding the 26% instant funding account, you will be eligible to earn up to 26% of the total profits you make from trading in the past 28 days.
In the case of the 40% instant supercharge account, you will be eligible to receive a payout of up to 40% every seven days.
This makes it the top-paying account type in the platform compared to other known accounts.
Is OFP Funding A Scam?
In my assessment, the OFP Funding proprietary trading firm is not a scam.
It provides an opportunity to engage in forex trading and generate profits using their capital.
Their funding program allows you to select your preferred account type.
Depending on the account type you choose, the program offers a profit share of up to 40%.
One noteworthy aspect is that the prop firm doesn’t impose any evaluation, challenges, or verification processes.
However, it’s important to note that the profit share offered on this platform is relatively lower compared to some other prop firms.
Another thing to note is the time it takes for the company to process payments, which can extend up to 28 days for certain account types.
This lengthy duration may not be suitable for traders seeking frequent access to their funds, especially when profitable.
Additionally, the prop firm does not disclose the pricing details for joining their platform.
Consequently, you may need to contact their support team to inquire about pricing before considering joining the platform.
Considering these factors, I would not recommend OFP Funding for newcomers to forex trading.
It is better suited for highly experienced and profitable traders who tolerate longer payment processing times.
My Assessment Of OFP Funding
My assessment of OFP Funding is based on the following factors:
Profit Splits: 4/10
OFP Funding prop firm is one of the platforms offering the lowest percentage of profit share in the forex market.
The highest profit share offered in the platform is 40% which is the least compared to other prop firms in the market.
This makes it one of the least-paying prop firms in the forex industry and only boosts its payout through its scaling plan.
Scaling Opportunities: 5/10
The scaling opportunities provided in the platform are, on average, compared to other prop firms in the forex market.
For instance, the scaling opportunities are only available for traders who have managed to maintain a profitability of 15% for four consecutive months.
This makes it higher as most prop firms only require traders to maintain 10% and below profitability to qualify for a scaling plan.
Profit Targets: 10/10
The OFP Funding platform does not set any profit target for traders in their platform.
This makes it a unique prop firm as you’ll not have to pass any test to access their fund.
In addition, omitting the profit target makes it the easiest prop firm to join and get started.
Affordability: 4/10
The affordability of the OFP Funding is not realistic as the company doesn’t mention the prices.
This also makes it difficult for traders to figure out the total amount required to purchase any of their account types.
On the other hand, the prop firm has limited account types providing only two options.
Trader Supports: 6/10
Unlike prop firms in the forex market, OFP Funding doesn’t provide good customer support.
This makes it difficult to rank their customer support as most traders.
However, the prop firm has testimonies from trusted clients with positive reactions.
Tradable Assets: 7/10
OFP Funding accepts a variety of tradable assets in the forex market, including forex pairs, indices, cryptocurrency, and metals.
These provide traders with multiple trading options that can enable them to improve their earnings.
In addition, the high number of tradable assets makes the prop firm an option for many trades in the forex industry.
Trustworthiness: 1/10
In my opinion, it is difficult to trust the OFP Funding prop firm based on its uniqueness in providing services in the market.
The prop firm doesn’t state the prices for their account types.
My Overall Rating
Unlike other firms operating in the forex market, OFP Funding receives a rating of 7/10 in my assessment.
This rating is influenced by its market performance, the duration of its presence, and customer feedback.
For instance, many forex traders have placed their trust in OFP Funding.
What Are People Saying?
Here is what people are saying about OFP Funding prop firms online.
Trustpilot
OFP Funding prop firm has an excellent rating on the Trustpilot platform from a sample of more than 800 reviewers.
The prop firm earns a rating of 4.3/5, with up to 77% of its reviewers awarding the company a five-star rating, as shown below:
To address the primary concerns raised about the platform, I’ve gathered some screenshots that may provide valuable insights for those interested in learning about the downsides of the proprietary firm:
FAQs About OFP Funding
Can I Purchase An OFP Funding Account For A Friend?
Unfortunately, the prop firm does not permit purchasing an account for a third party.
The prop firm only allows the person who purchased the account to trade on it and not another person.
For this reason, you only need to guide your friend on how to open an account to get started with their trading journey.
Am I Responsible For Any Loss In The OFP Funding?
As an OFP Funding client, you are not eligible to face any loss during your trading journey on the platform.
However, your account will automatically terminate if you violate the major trading rules.
You should respect all the rules of the prop firm even though it takes care of losses incurred by traders.
How Long Does It Take To Receive My Account After Purchase In The OFP Funding?
The time it takes for your account to be sent is an average of one hour.
However, if there is an issue with the system, it may take up to 24 hours to receive your account after purchase.
How Many Accounts Can I Manage In The OFP Funding Prop Firm?
The total capital you can trade for the 26% instant monthly account should not exceed £100,000.
This also accounts for the 40% instant supercharge account and the 40% instant monthly account in the platform.
For this reason, the number of trading accounts you can hold shouldn’t have their total balances exceeding this limit.
Can I Withdraw My Profits Before The End Of The Month The OFP Funding?
No, the prop firm doesn’t permit you to withdraw before 28 days.
For this reason, you’ll not be eligible to withdraw your profits before completing the agreed period.
This is irrespective of your level of trading or the amount of profits you make in your trading journey.
Can I Trade On A Mobile Device?
OFP Funding prop firm allows you to trade on any device provided you have the trading skills.
However, your trading device must support Metatrader 4 and Metatrader 5.
For this reason, you only have to check if the mobile you want to use in trading supports the two platforms.
Thank you for reading my OFP Funding Review