OnlyFunds Reviews 148

Original owners were actually trying to do something good within the industry, but it very quickly went wrong when Prop Trader Tech (PTT) the company behind the setup started to control things. Payouts are now being refused for spurious reasons and support just trying to fob off traders. Do not get involved. Use reputable prop firms and steer clear of this farce.

Note to Trustpilot - this review is based on my own experiences, between February and June 2024. I do hold evidence to confirm everything I've said - if there is a request to delete the review, please contact me and I'll be happy to provide this.

During the first month or so, Only-Funds (OF) was brilliant - sensible rules with payouts processed fairly and very quickly.

This was followed by a period of rule changes and general decline - rules were changed in mid-April, early-May and again in early-June.

Payout issues began in early-May and the public Discord channel was deleted around 20th May at the time of a change of management of OF.

I received 2 successful payouts with OF in April.

I then submitted my 3rd payout request on 8th May:

- This was eventually processed on 20th May and declined for 'copy trading'.

- I requested copies of the data to review and its a complete scam. They said that 7% of my trades were similar to 2,000 other accounts - apparently 'copy trading' means you don't have to actually copy, just have similar trade entries.

- I've emailed back and forwards with them, but they don't even engage with the emails, just 'better luck next time'. After 3 or 4 emails, they just started copying my own text back to me!

I think it is also worth noting that OF are certainly not the only prop firm with these issues - there are a large number 'managed' by Prop Trade Tech (PTT), which seem to have the same issues (Quantec, Infinity, Tradicave, Next Step Funded etc). The outline structure is along the lines of the following:

- PTT are a tech provider who work exclusively for Eightcap.

- PTT deal with all the technology, financing, payments, risk assessment, payouts etc.

- The 'prop firm' (OF), just deals with Discord and marketing / Instagram.

- PTT then keeps 50%-70% of 'net revenue' (basically, challenge fees less payouts - subject to a minimum c$5k payout to PTT).

So, regardless of who you are emailing, e.g. 'support@[propfirm]', you're actually speaking to PTT - sometimes they even sign off the wrong prop firm name at the end of emails.

It is also wise not to trust the Discord channels - I have often seen messages criticizing PTT or discussed payout denials, but the messages are almost immediately deleted by moderators.

I have absolutely no confidence of further payouts from OF - the rules changes frequently, and they won't publish full details of the rules (for example, 'copy trading' doesn't mean copying, it actually means a certain similarity of entries etc). Similarly, rules are applied retrospectively - consistency and news rules applied to trades taken before the rules changed, making it impossible to get a payout for the period.

The PTT model means that payouts are, effectively, limited to new challenge fees coming in. I intend to issue a chargeback via my bank for the challenge fees.

I'd strongly recommend anyone stays away from a PTT Prop Firm (the technology provider is usually stated on the prop firm website, but they all have the same website style in any case).

Good luck!

TOTAL SCAMM DON’T BUY IT
They steal your money in any way, i don't advise anyone to deal with them
PLEASE DON'T TRUST THEM

Rules changed several times after I was funded, making it difficult to trade. New rules brought in were even backdated removing the profit I made fairly inside the rules and refusing payout.

The founders of the prop firm have disappeared into thin air, this is now a faceless prop firm designed to big a quick cash grab and run.

I would strongly advise avoiding at all costs.

TOTALLL SCAMM DON’T BUY IT
They changed the rules multiple times and were saying that they are legit and pay not like other firms scam you with duplicate IP rules but here we are i requested payout only traded with my phone manually no EAS and still they declined my payout saying that i made IP breach which is tottally false , SCAM SCAM account number 88922284

The owners have changed and they closed the discord to chat, since then, they have changed the rules, they put back the anchoring exams that had been removed... anyway. A TOTAL MISPURPOSE.

After being funded and reaching 5%, they told me that I had used 2 IPs, that is, I shared my account with someone else. When I showed them my master account from mine, which I copied with the investor password, they still told me things that made no sense. And they don't want to pay.

GET RUN FROM THIS COMPANY

OnlyFunds- Similar to a great number of others. I ought to have followed my instincts. I sent them an email, but I haven't heard back yet( According to their website 5 business days). Additionally, they disabled their Discord and went dark. As for my trading, I used SL and TP as a good measure (not necessary) and traded the same lot sizes in every trade, but I never gotten a payout because they NEVER RESPONDED. I have no idea what I did incorrectly and I'm at a loss! I now deeply regret encouraging my pals to sign up for OnlyFunds. After 30 days, my profit was hardly a small percentage. This firm is just another Infinity Forex funds. I'll order everyone to cease accompanying them. This is a prop firm fraud. Don't be duped by their low costs. You've been alerted. IIf you click on the the majority of these "1 REVIEWS" from users are pay fraudulent. STAY AWAY

Hi last Friday my third payout FAQ policy thrid payout 80-20. But they sended 70-30 split only and after third month onwards they said 14day payout but my dhasborad still showing 30days and I am putted mail since Friday I don't get answer from them they said consider department not responding please wait I am waiting Friday Saturday and Sunday and Monday also today Tuesday I don't know when I will get my remaining payout and still I am worried about they will removed my consistency rule or not why because my dhasborad showing 26days and they also not updating me anything I am waiting for they mail since let's see how is goes

All the 1-star review won't help anyone... i get it as i was bummed too that rules were changed but all it takes is a slight adjustment and your off again. Looks like the old owners have stepped back but thanks to them anyway for creating this prop!

Just had my first payout!! only $700 but received after 2 days :)

I submitted my payout 16 days ago (10k profit) and it's still pending.
My affiliate client had 4.5k removed from her payout for trading around news, trading that was done before that rules was introduced.
Another affiliate client has 1600 removed for MaxDailyProfit because apparently they don't include trading commission in their definition, which is completely non-intuitive and not mentioned in FAQ or SOA. The owner at the time confirmed that it was a mistake and said it would be paid out within 24h, but then he resigned and the new management seems to have very little sense of fairness. Note that this daily profit (not including commission) is compared to the total profit that indeed does include commission. If you make 300 "profits" in one day but the commission is 500, would you call that a profitable day? Of course not, it's a losing day, so it makes no sense not to include commission, and it's not documented in the rules.
I will update this review if my payout request is honoured and they do pay without shady deductions for undocumented rules. And even more so if they could sort out the incorrect deductions for my affiliate clients.

A lot of traders including myself bought into this company based on the reputation of the previous owners in the trading space. All of a sudden the owners stepped down and have now put PTT in control of the prop firm who are scamming everyone and have been known for scamming over the years. DO NOT BUY ANY CHALLENGES when it comes to requesting a payout like I did you will be rejected with an excuse of either duplicate IP or copy trading or even your trades are similar to other traders which is a excuse to say we aren’t paying you out. Company started off with so much promise and now is a total and utter Scam

This company is a scam! They have changed the rules so many times and do not honour the rules in place when I purchased the account. have seen endless fake payout denials the past few days! Avoid!

worst scam prop firm you will ever encounter, after your hard work, they enforce new rules on you which u didnt sign up for, pressing you to the wall not to get any money from your hard work, thunder fire u ony funds., damn

OF has been reliable. Had some delays initially, and some rules changes but my recent payout was processed within 3 business days.

They constantly change rules with little to no notice. The entire setup stinks ultimately of scam. Unfair for the users who sign up on the premise on a set of rules and almost every week have a new rule change to the point the account rules they end up with vs what they signed up to are so far apart. Not worth the hassle.

It’s now under new management, baring in mind it’s a relatively new company, very unnerving.

I wouldn’t recommend onlyfunds at all. They want your money and once they have it they don’t care at all about you or you becoming an “A book” trader

Only Funds has been a major disappointment due to sudden, retroactive rule changes without prior notice. Prices increased with promises of fewer restrictions, only for those promises to be reversed. They frequently refuse payouts, citing reasons like "copy trading" or "multi-IP address usage." This prop firm is a scam, and I strongly advise others to avoid it.

Be very careful with the company. They are scammers. They said that from April 22, the consistency of 40% per day was applied for the new operations. Well, I have requested the payment and they have rejected it, being my operations before April 22. And worst of all, they have reset my account to 100k of 106k and they have deactivated my account because I have supposedly lost 6k in a single day.

Be very careful with this company, they are going to take all our money, scamming us all.

Update: my trading account is operational again, but I haven't been paid. There is no broken rule because the consistency of the daily profit was applied on April 22nd and they say that I broke the rules on the 15th and 17th (those days there was still no consistency rule based on the contract I signed)

Update 25 may: I have contacted support, I am waiting for a response and see if I can verify that it has been an error from the OnlyFunds payment team. I will update with the result soon.

Update 29 may: they still don't give me an answer. Operations carried out on the 15th and 17th are being applied by rules that they set on the 22nd. They are scammers and they don't pay.

It was all going so well. Preaching to be a different, open and honest Prop firm.... and then everything changed. Changing the rules week by week. Lying to prevent withdrawals. Management/leadership stepping down 3 months in. What is going on??

I requested my first withdrawal from Onlyfunds last month. I ensured all the rules, at the time, had been followed but it was mainly the 40% max daily profit rule. I was informed that a select handful of trades had breached the 40% rule so they removed this from the withdrawal request. However, upon looking into this they had missed off 4 losing trades from the total trades that day, which would have brought the profit down and the 40% would not have been breached. I have challenged them on this and have asked them numerous times to answer why they have not included these losing trades in the total calculations. One of their responses was that they don't include losing trades in the daily profit calculation (even though the initial list of trades they sent me included losing trades). Make it make sense please. I double checked this their support via discord and i was informed it is the net profit on that day. Meaning they do include the losing trades in the calculations. Were you lying or did your staff have a lack of knowledge on your proposition?

I strongly believe that they have purposefully left out trades so they don't have to fulfil my full withdrawal request. I am yet to receive a response from their support so I have decided to leave this review as i has now been a full week since i have heard anything.

What an absolute disaster this had honestly been. Zero consistency. Zero strategy. 100% the same as other HFT firms. Would not recommend.

3 of 3 withdrawals declined so far. The trusted leadership that started the whole concept, is now gone.