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OnlyFunds

Only Funds review

Trading Platforms

MetaTrader 4

DXTrade

 

Deposit Methods

Credit / Debit Card

Withdrawal Methods

Bank Transfer

Forex Commission

Not mentioned

CEO

Only co-founders are public

Weekend Holding

Yes

Copy Tading

No

Payout time

5 days

Country

-

News Trading

Yes

Refund Fee

Only for the Standard Account

Trustpilot

3.8

Expert Advisors

Yes

Max Allocation

$600K

Instruments

Forex, Indices and Commodities

🚨 Frequent Rule Changes: Many users complain that Only Funds changes its rules too often, sometimes up to three times in a short period. These changes make it hard for traders to stick to their strategies and can cause them to lose money.

💰 High Costs: Reviewers mention that Only Funds is more expensive than other similar companies but does not offer any extra benefits. This makes users feel they are paying more for the same or worse services.

🤥 Broken Promises: At first, Only Funds promised to be different and user-friendly. However, many users feel that the company now follows the same or worse rules as other trading firms. This has led to accusations of dishonesty and scamming.

🐢 Poor Customer Service: Many users are unhappy with the slow and unhelpful customer service. Some reported waiting several days without any response after spending a lot of money on their accounts.

💸 Payment Issues: Users also complain about unjust payment rejections. Even if they follow the rules, new rules are invented that block their withdrawals.

⚖️ Restrictive Drawdown Rules: Some reviewers explained that Only Funds calculates losses in a way that is unfair and makes it harder for traders to succeed.

📉 Problems with Trading Rules: Many users are frustrated with changes to rules about news trading and holding trades over the weekend. These changes were made after users bought their accounts, which has caused many problems.

🕵️‍♂️ Anonymous CEO

The CEO is not specified, which raises some concerns about this prop firm. The only team members of Only Funds are Connor and Joel. I’ve always found it suspicious when a prop firm doesn’t specify its CEO. It seems to me that the co-founders are specified so they can be blamed if this prop firm also shuts down like the others.

🕰️ Age of the Website

The Only funds website was created on October 18, 2022. In the “About Us” section, it says they have “20+ years of experience.” I think this means the experience of the employees, but in what? The business model for prop firms hasn’t been around for 20 years, and this site is only from 2022. Also, the co-founders, Connor (8 years) and Joel (3 years), together have 11 years of trading experience. That’s not even close to 20 years. It’s quite disappointing, in my opinion.

😄 The name of the company

Now let’s be serious. If you are a pragmatic trader, you choose your prop firm carefully for trading. But seriously, who would trade with a prop firm named after OnlyFans? Just the name itself seems untrustworthy to me, but who knows.

🔍 Conclusion

Only Funds is not a well-known prop firm in the market, but that doesn’t mean we shouldn’t give it a chance; it might be a serious service? I haven’t tried this prop firm myself, but after reading the reviews on Trustpilot—which are few—I believe most of the positive reviews are paid for, while the negative reviews seem closer to the truth. What serious company has mostly 5-star and 1-star reviews?

Additionally, the country where Only Funds operates is not specified, and the CEO is anonymous. From my point of view, this prop firm is not worth considering for trading. I believe there might be satisfied traders who received a payout from them, but they are likely few and probably withdrew small amounts that didn’t impact Only Funds’ capital significantly. If you find other sites that have written articles about Only Funds, I guarantee they haven’t tried the service but still wrote a positive review because it’s much easier to write a positive article than a negative one.

That’s all. I recommend being cautious with services you encounter in this field, which is full of fraud and scammers.

PRICING & ACCOUNT SIZES

$25,000

HFT Account
$ 249
  • 1 Step
  • Profit Split: 80%
  • Profit Target: 8%
  • Max. Daily Loss: 5%
  • Max. Total Drawdown: 10%
  • Trading Leverage: 1:30

$50,000

HFT Account
$ 499
  • 1 Step
  • Profit Split: 80%
  • Profit Target: 8%
  • Max. Daily Loss: 5%
  • Max. Total Drawdown: 10%
  • Trading Leverage: 1:30

$100,000

HFT Account
$ 799
  • 1 Step
  • Profit Split: 80%
  • Profit Target: 8%
  • Max. Daily Loss: 5%
  • Max. Total Drawdown: 10%
  • Trading Leverage: 1:30

$200,000

HFT Account
$ 1,599
  • 1 Step
  • Profit Split: 80%
  • Profit Target: 8%
  • Max. Daily Loss: 5%
  • Max. Total Drawdown: 10%
  • Trading Leverage: 1:30

$25,000

Standard Account
$ 149
  • 2 Steps
  • Profit Split: 80%
  • Profit Target: 1: 8%; 2: 5%
  • Max. Daily Loss: 5%
  • Max. Total Drawdown: 10%
  • Trading Leverage: 1:50

$50,000

Standard Account
$ 299
  • 2 Steps
  • Profit Split: 80%
  • Profit Target: 1: 8%; 2: 5%
  • Max. Daily Loss: 5%
  • Max. Total Drawdown: 10%
  • Trading Leverage: 1:50

$100,000

Standard Account
$ 499
  • 2 Steps
  • Profit Split: 80%
  • Profit Target: 1: 8%; 2: 5%
  • Max. Daily Loss: 5%
  • Max. Total Drawdown: 10%
  • Trading Leverage: 1:50

$200,000

Standard Account
$ 999
  • 2 Steps
  • Profit Split: 80%
  • Profit Target: 1: 8%; 2: 5%
  • Max. Daily Loss: 5%
  • Max. Total Drawdown: 10%
  • Trading Leverage: 1:50

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