OFP Funding Review 2024: No-Challenge Accounts, 40% Profit Boost!

Introduction

OFP Funding is an emerging prop trading company, founded in 2022 with headquarters in London, UK. The company operates under the official name of FINTEKNOLOGY LTD, offering traders the opportunity to receive instant funding without having to go through the assessment or testing stages that many other prop companies do.

The company allows traders to manage accounts ranging from $5,000 to $200,000, and offers a maximum leverage of 1:100, a leverage suitable for risk management while still ensuring profits. A highlight of OFP Funding is its partnership with IC Markets, one of the world’s most reputable brokers, which helps to provide good trading conditions such as low spreads, low commissions, and fast order execution speed.

Unlike many other prop companies, OFP Funding does not require traders to overcome difficult challenges or profit targets to receive funding. This provides great flexibility for traders who want to start immediately without being limited by strict regulations.

In addition, OFP Funding also offers a flexible profit sharing program with a split of 26% to 40% depending on the account type and trading performance. The profit sharing is much higher than other prop companies, providing greater opportunities for traders with stable profitability.

With advantages such as instant funding, no challenges, attractive leverage and strong support from a top broker, OFP Funding is a worthy choice for traders who want to take advantage of funding to expand their trading activities.

Licenses and Regulations

One of the important factors to assess the safety and reputation of a prop trading company is the license and regulations that the company complies with. However, OFP Funding currently has no clear information about whether it is licensed by major financial authorities such as FCA (UK), CySEC (Cyprus), or ASIC (Australia), which are often considered symbols of transparency and reputation in the financial sector.

According to available information, OFP Funding operates under the legal name FINTEKNOLOGY LTD and is headquartered in London, UK. However, the lack of certifications from mainstream regulatory bodies makes OFP Funding difficult to rate highly in terms of financial safety compared to companies with strict regulations. Traders should consider this factor carefully, especially when trading with large amounts of money.

In return, OFP Funding partners with IC Markets, a reputable broker that is licensed in multiple jurisdictions. IC Markets is known for its excellent trading conditions, including low spreads and high liquidity thanks to its partnership with many leading liquidity providers. This gives traders some reassurance about the quality of trading and liquidity, even though the company is not closely monitored by regulatory agencies.

Although OFP Funding is not licensed by leading financial authorities, partnering with IC Markets – a well-regulated broker – helps to mitigate some of the safety and liquidity risks for traders. However, investors should still be cautious when assessing the transparency and safety of this prop trading company.

Trading Platform

One of the most important factors when evaluating a prop trading company like OFP Funding is the trading platform they offer. OFP Funding allows traders to use two of the world’s leading trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These are the two most popular platforms in the forex and financial trading community, favored by many traders for their stability, flexibility, and high customizability.

MetaTrader 4 (MT4)

MT4 is a widely used platform in the financial industry, especially forex trading. This platform offers:
Powerful charts and technical analysis tools: MT4 supports traders with hundreds of technical indicators, along with the ability to draw charts and set up automated trading strategies.
Support for automated trading (Expert Advisors – EAs): One of the strengths of MT4 is the ability to use EAs, helping traders automate their trading strategies.
Fast order matching speed and high stability: With IC Markets as a brokerage partner, transactions on MT4 at OFP Funding are guaranteed to have good liquidity, fast and accurate order matching.

MetaTrader 5 (MT5)

MT5 is an upgraded version of MT4 with more modern features:
Ability to analyze a variety of financial products: MT5 supports trading on many different types of assets including forex, stocks, indices, commodities, and cryptocurrencies.
Faster order processing: MT5 provides more types of pending orders and faster processing capabilities, suitable for professional traders who want to take advantage of short-term market fluctuations.
Powerful technical analysis tools: In addition to the features of MT4, MT5 provides more time frames and technical analysis indicators, providing good support for advanced traders.
Liquidity and order execution speed
Thanks to the cooperation with IC Markets, OFP Funding has the advantage of high liquidity and fast order execution. IC Markets is known as a broker with extremely low spreads, starting from 0.0 pip for some major currency pairs, and fast order execution speed thanks to the system connecting with many leading liquidity providers.

Additional trading tools

In addition to MT4 and MT5, traders at OFP Funding can access many more trading support tools such as:
Economic calendar to update important events that may affect the market.
Risk management tools are built into the platform, helping traders monitor and control their risk exposure

With the MetaTrader 4 and 5 platforms, OFP Funding provides traders with leading tools and technology to execute and manage trades efficiently. The integration with IC Markets also enhances the quality of trading through fast execution speeds and extremely competitive spreads. This is an ideal choice for both beginners and professional traders.

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Trading Costs

One of the most important factors when choosing a broker is the trading costs, which include spreads, commissions, overnight fees, and other hidden costs. OFP Funding offers traders quite competitive costs compared to other prop companies, especially when there are no challenging or complex assessment requirements to receive funding.

Spreads

Spreads at OFP Funding are considered competitive, especially thanks to the partnership with IC Markets, a broker known for its extremely low spreads. Spreads on major currency pairs such as EUR/USD can start from 0.0 pips, which is very useful for short-term traders, helping to reduce overall trading costs. For other products such as commodities and indices, spreads are also optimized to ensure the benefits of traders with diverse products.

Commissions

OFP Funding does not charge commissions on forex trades for basic trading accounts. This saves traders money, especially for those trading in large volumes. This is an advantage over many other prop firms that charge commissions ranging from $2 – $7 per lot​.

Swap Fees

Another factor to consider is the overnight fees, or swap fees, that are applied to positions held overnight. At OFP Funding, these fees will depend on the traded asset and market interest rates, as is the case with most other brokers. IC Markets offers reasonable swap rates for major and minor currency pairs. However, traders should note that swap fees can increase significantly when holding positions for long periods, especially for less liquid currency pairs or other financial instruments.

Deposit and Withdrawal Fees

OFP Funding does not charge any fees for deposits or withdrawals, which eases the financial burden on traders. They only need to pay a single fee when registering for a funding account, depending on the funding level they choose. For example, to get a $25,000 account, a trader will have to pay a fee of £197.

Other costs

It is worth noting that OFP Funding does not have any hidden fees such as account maintenance or management fees. This is a big advantage compared to some brokers that require monthly recurring fees or other incidental fees to maintain access to a trading account.

OFP Funding offers relatively low and transparent trading costs, helping traders maximize their profits. With low spreads, no commissions and reasonable overnight fees, the company is a boon for traders looking for a cost-effective trading environment.

Leverage

OFP Funding offers a maximum leverage of 1:100, a leverage suitable for professional traders. Leverage is an important tool in trading, allowing investors to open positions much larger than the actual capital they have in their account. Leverage of 1:100 means that for every $1 of equity, the trader can control $100 in the market.

Benefits of 1:100 Leverage

OFP Funding’s 1:100 leverage is considered the average leverage in the forex trading industry. It helps traders increase their potential profits without having to spend too much capital. For example, if a trader has an account of $10,000, they can open positions with a size of up to $1,000,000 thanks to 1:100 leverage.

This leverage level is suitable for both experienced traders and those who want to maintain a moderate risk ratio, not as risky as higher leverage levels (e.g. 1:500 or 1:1000).

Risk of high leverage

Although 1:100 leverage increases potential profits, it also means greater risk. If the market moves in the opposite direction, traders can lose all their capital quickly. This requires traders to have a strict risk management strategy. OFP Funding recommends that traders manage their risks carefully, avoiding the uncontrolled use of high leverage.

Compare with other companies

Many other prop trading companies also offer similar or higher leverage levels. For example, some companies may offer leverage of up to 1:200 or 1:500, however this comes with a much higher level of risk. The 1:100 leverage offered by OFP Funding is considered to be a balance between profit opportunities and risk management, especially suitable for traders looking for safety and stability.

The 1:100 leverage offered by OFP Funding offers a balance between increased profit opportunities and risk control. With this leverage, traders can maximize their capital while maintaining a reasonable level of risk, especially when trading with the support of brokerage partner IC Markets.

Deposit & Withdrawal Methods

OFP Funding provides traders with relatively simple and effective deposit and withdrawal methods. This is an important factor because fast and hassle-free deposits and withdrawals are what any trader wants to access capital flexibly and without interruption during the trading process.

Deposit Methods

OFP Funding supports a number of popular deposit methods such as:
Bank transfer: This is a traditional method, suitable for traders who want to deposit a large amount of money with high security.
Credit/Debit Cards: This method is very popular and fast, allowing traders to deposit money immediately and start trading without having to wait long.
E-wallets: OFP Funding supports a number of popular e-wallets such as Skrill, Neteller, allowing traders to deposit funds quickly and securely. E-wallets are a good choice for those who want to transfer money internationally without facing large bank fees.

Withdrawal Methods

Similar to the deposit method, OFP Funding also allows withdrawals via the following main methods:
Bank transfer: Widely used for large withdrawals, especially when making international transactions. However, processing time may take several business days.
Credit and debit cards: This method is often used for smaller withdrawals and is processed within 1-3 business days.
E-wallets: This method has the advantage of being processed quickly, usually within a few hours to 24 hours, suitable for traders who want to withdraw funds immediately after completing a transaction.

Costs and Processing Time

OFP Funding does not charge any deposit or withdrawal fees, which is a big plus for traders looking to optimize their costs. However, traders should note that intermediaries such as banks or e-wallet providers may impose some small fees when making transactions.

OFP Funding’s withdrawal processing time may vary depending on the withdrawal method. Bank transfers can take 3 to 5 business days, while credit/debit cards and e-wallets have faster processing times, usually only 1 to 3 days.

OFP Funding offers convenient and fee-free deposit and withdrawal methods, helping traders save costs and withdraw funds quickly. The flexibility of methods and relatively fast processing times make OFP Funding a good choice for traders looking to ensure liquidity and flexibility in their trading.

Customer Support

Customer support is an important factor that helps traders feel secure when trading with a prop trading platform like OFP Funding. A good support service helps traders quickly resolve problems that arise, ensuring that the trading process is smooth and uninterrupted.

Support methods

OFP Funding provides various support channels to ensure that traders can contact quickly and effectively:

Email: This is OFP Funding’s official support method. Traders’ questions and concerns will be sent via email, and the support team will respond within 24-48 business hours.

Live Chat: According to many reviews, OFP Funding also provides a Live Chat support channel on the official website. This is the most convenient way to receive instant responses to questions related to accounts or trading processes.

FAQ Page: In addition to direct contact channels, OFP Funding provides a detailed FAQ page, helping traders find answers to common questions about the deposit/withdrawal process, account types, and trading conditions.

Support Hours

OFP Funding’s customer service is available 24/7, ensuring that traders worldwide can reach out and receive support at any time. This is especially useful for traders operating in different time zones, ensuring that any issues are resolved promptly.

User Reviews

However, since OFP Funding is a new company founded in 2022, information on actual user reviews is still quite limited. Based on some initial reviews, the customer service is considered to be responsive and professional, especially with account-related questions and technical issues. Some users have expressed their wish for customer service to include phone support, which is currently not available.

OFP Funding’s customer service offers multi-channel support, including email, live chat, and FAQ page with 24/7 support. However, with limited phone support and limited user feedback, the company can continue to improve to provide a better customer experience. Traders can still rely on the current quality of support thanks to its responsiveness and flexibility in resolving issues that arise.

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Trading Accounts (Account Types)

OFP Funding offers a variety of account types for traders with different capital levels and conditions. This is one of the strengths of the platform, as traders can choose the account type that suits their strategy and financial goals. Depending on the type of account the trader chooses, the profit sharing and fee requirements will be different. Specifically, OFP Funding has three main account types: 40% Instant Monthly Account, 26% Instant Monthly Account, and 40% Supercharged Account.

1. 40% Instant Monthly Account

Account Size: OFP Funding offers accounts with capital levels ranging from $5,000 to $100,000. Traders do not have to overcome any challenges or profit targets to open this account, allowing them to start trading immediately after paying the registration fee.
Registration Fees: Depending on the account size chosen by the trader, the registration fee ranges from £82 for a $5,000 account to £746 for a $100,000 account.

Profit Sharing: Traders will be shared 40% of the profit on the successful trading amount at the end of each month. Notably, there are no profit target requirements or evaluations before receiving the account.

For example:
If your account has an initial balance of $100,000 and ends the month with a balance of $120,000, you will receive 40% of $20,000, which is $8,000.

2. 26% Instant Monthly Account

Account Size: Like the 40% account, the 26% account offers sizes from $5,000 to $100,000.

Registration Fees: Lower fees than the 40% account, for example, the registration fee for a $5,000 account is £58, and for a $100,000 account is £746.

Profit Sharing: Traders receive 26% of the profit at the end of the month. Similarly, there are no challenge requirements or profit targets before receiving the account.

For example:
With a $100,000 account, if you end the month with $120,000, you will receive 26% of $20,000, which is $5,200.

3. 40% Supercharged Account

Account Size: This account offers the same capital as the other accounts, ranging from $5,000 to $100,000.

Registration Fees: The fees for this type of account range from £90 for a $5,000 account to £733 for a $100,000 account.

Profit Sharing: The highlight of this account is that traders can receive a profit sharing of up to 40% per week. The profit amount will increase with each successful trading week, reaching a maximum of 40% in the 4th week of the cycle.

For example:
In the first week, if your $100,000 account increases to $105,000, you will receive 10% of $5,000, which is $500.

In the 4th week, if you increase your balance to $130,000, you will receive 40% of $10,000, which is $8,000, plus the amount received from previous weeks.

General Terms

There are no challenges or assessment requirements for all account types, making it easy for traders to access capital without having to go through complicated assessment stages like some other prop companies.
Traders need to adhere to risk management rules, including not using Expert Advisors (EAs) and must ensure to make trades at least 3 out of 7 trading days.

OFP Funding offers traders a wide range of account options, from different profit sharing levels to diverse subscription fees. Depending on their needs and strategies, traders can choose the most suitable account type to optimize profits without facing difficult challenges.

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Promotions and Demo Accounts

OFP Funding does not offer as many promotions or bonuses as traditional forex brokers. However, this prop trading company still has some policies and incentives to attract traders, especially traders who want to get funding quickly without facing complicated challenges.

Promotions

Currently, OFP Funding does not have traditional promotions such as deposit bonuses or cashback programs for traders. However, the biggest attraction they offer is the no-challenge funding account, which allows traders to start trading immediately without having to go through evaluation stages or profit targets like many other prop companies.

In addition, OFP Funding can implement some flexible profit sharing programs, allowing traders to choose different profit sharing rates based on trading performance and account size. This can be considered a form of indirect promotion, helping traders optimize profits without facing difficult barriers.

 

Demo account

Currently, OFP Funding does not offer a demo account. This can be a minus for new traders or those who want to test the platform before investing real capital. Demo accounts are often considered a useful tool to help traders get acquainted with the market and test trading strategies without having to take financial risks.

However, with OFP Funding, traders can start trading directly on funded accounts without going through complicated assessment challenges. This helps to somewhat compensate for the lack of a demo account, especially for traders who are confident in their trading abilities and want to start right away.

While OFP Funding does not offer promotions or demo accounts like some traditional brokers, their strong points are their no-risk funding account offering and attractive profit sharing. This is suitable for traders who want to enter the market quickly and easily. However, those who want to test the platform before committing financially may find the lack of a demo account a drawback.

Conclusion

OFP Funding is a young prop trading company, with some highlights such as providing no-challenge trading accounts and attractive profit sharing. With instant funding accounts and cooperation with IC Markets – one of the reputable brokers with excellent trading conditions, OFP Funding facilitates traders to enter the market without too many barriers.

One of the outstanding advantages of OFP Funding is the flexibility in account types, from accounts with profit sharing ratios of 26% to 40%, along with low spreads and reasonable leverage. This helps traders to optimize their profits without having to face complicated requirements on profit targets or pre-account assessment.

However, the lack of clear information about licenses and regulations may make some investors hesitant. Additionally, the lack of a demo account may also reduce the appeal for newcomers who want to test the platform before committing financially.

Key Pros:

Instant funding: No challenges or profit targets, allowing traders to get started quickly.
High profit sharing: Dividends range from 26% to 40%, depending on the account type.
Affordable leverage: Leverage of 1:100, suitable for risk management.
MetaTrader 4/5 trading platform: Partnered with IC Markets, providing a trading experience with good liquidity and execution speed.

Cons:

Lack of licensing from major regulators: This may be a risk for traders concerned about transparency and financial security.
No demo account: This reduces the ability to test the platform before trading for real.

In conclusion, OFP Funding is an attractive option for experienced traders who want to get funding quickly without any challenges. However, those who need regulatory certainty or want to test the waters first may want to consider other options.

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