
OANDA has officially launched its prop trading program, OANDA Prop Trader, in South Africa, marking a major expansion of its services. This new initiative enables self-directed traders to become signal providers for OANDA’s proprietary trading business on a profit-sharing basis.
The OANDA Prop Trader program requires traders to purchase and complete a Challenge, designed to assess their ability to generate profits and manage risk effectively. Traders who complete the Challenge are eligible to become signal providers. In South Africa, successful participants can earn up to 90% of the profits they generate, providing a substantial opportunity for skilled traders with limited capital to engage in financial markets.
Traders can purchase the Challenge using various payment methods, including credit cards, debit cards, and a range of cryptocurrencies. The inclusion of crypto payments allows participants to pay using popular digital currencies such as Bitcoin, Ethereum, Litecoin, Binance Coin, TUSD, USDC, USDT, and even meme coins like DOGE and SHIB.
Originally launched under the name OANDA Labs Trader, the service has been rebranded to OANDA Prop Trader to better reflect its offerings. Qualified traders on the platform act as signal providers, with OANDA’s proprietary trading models using these signals to guide market positions. While the accounts are virtual, real market positions are taken based on the traders’ signals, putting OANDA’s proprietary capital at risk.
The expansion into South Africa is part of OANDA’s broader strategy to increase accessibility to skilled traders worldwide. The program joins a growing list of prop trading offerings from other retail brokerages, including Trade.com, Traders Trust, Axi, and Hantech. Furthermore, the prop trading landscape has experienced additional movement with FX industry veteran Joshua Dentrinos acquiring a stake in the Funded Peaks brand.
This move is expected to bolster OANDA’s presence in the financial markets and offer new opportunities for traders across South Africa.