Welcome to the discussion thread for OFP Funding. This firm is not listed on Propfirmmatch.com, but the forum is open for conversations about it.
They really defend fixed dollar draw-down which really is a diminishing percentage
draw-down as the account grows…so the only real way to preserve capital is to not increase lot size exposure beyond what you started with.
I use 3 months to trade with OFP and gather enough TVS to monthly payout but they denied. The reason they gave me that I use 0.3 lot bitcoin and 3.1 lot eth, the gap between 2 positions is huge which mean gambling. This is so ridiculous. the volatility and price btc and eth is different. Stay away from this firm!!!
Here to share my experience and dissatisfaction with OFP. I purchased a 25K account and have been trading and reading the reviews about this firm daily. A lot of traders have complained about their vague and hidden rules to deny payouts and im also one of those.
So after trading my account for about 10 days I made 10.5% profits but payout was denied because according to the email they used their discretion and decided it was gambling. Now I will provide some stats below:
No. of trades taken: 16
Winning trades: 11
Losing trades: 5
Losing trades breakdown:
-$1.2
-$246
-$16
-$6.1
-$5
Note highest losing trade $246 (1% of account). The next highest losing trade is $16
Winning trades breakdown:
$434
$503
$251
$281
$495
$236
$152
$196
$19
$134
$204
So the problem? Well they took the 1 losing trade of $246 and compared it to several profitable trades thats less than $246 and determined thats gambling. They also ignored the fact that I have 5 trades thats more than the $246 loss some over $400. This in my view is absolutely ridiculous. The resaon I closed some trades in small profits is becasue the market conditions were not favorable so I exited the trade. The trades that I closed in over $200 profit well the goal was 1% profit which was $250 but because price had reached a possible reversal area (support/resistance) I closed.
Now my avg profits is: $264
Avg. loss: 55
RR: 1:4.5
My avg holding time of winning trades in longer than losing trades.
My Inconsistency Score is 19% which is lower than the required 25%.
So after adhering to all their trading rules the used the 1 rule which gives them leverage to deny payout which is OFP can use their discretion to determine what is considered gambling.