OANDA Launches Prop Trader Program in South Africa

​OANDA has expanded its Prop Trader program to South Africa, offering a unique opportunity for self-directed traders. This program allows traders to become signal providers for OANDA's proprietary trading business on a profit-sharing basis. To qualify, traders must successfully complete a Challenge designed to test their ability to generate profits and manage risks effectively. Successful participants can earn up to 90% of the profits they generate, paying for the Challenge using credit cards, debit cards, or cryptocurrencies.

The launch in South Africa is significant as it extends accessibility to financial markets for skilled traders with limited capital. OANDA's Global Markets division, authorized and regulated by the Financial Services Commission of the British Virgin Islands, ensures regulatory compliance and reliability. Prop trading, despite its controversies, is gaining popularity globally, with reputed brokers like OANDA, Axi, and Hantec Markets entering the field through offshore regulated entities.

According to OANDA's Head of Emerging Markets, the prop firm industry holds potential to surpass the traditional FX/CFD industry due to its accessibility and lower barriers to entry, such as upfront fixed fees and limited downside risk.

Back in January, Fazzaco covered that OANDA announced the launch of OANDA Labs Trader, a trading program centered around profit sharing,​ heading into the proprietary trading market.