If you're a trader looking for a challenge that tests your skills without the hassle of multiple stages, the Optimal Traders One Phase Challenge might be exactly what you need. This challenge, offered by Optimal Traders, is designed to streamline the path to a funded trading account. With clear rules, competitive pricing, and a focus on consistency and risk management, it's a popular choice for traders who want to prove their mettle in a straightforward environment.

Challenge Name and Overview

Optimal Traders offers two main types of One Phase Challenges:

1-Step Algo

The 1-Step Algo challenge is perfect for traders who rely on algorithmic strategies. It allows the use of Expert Advisors (EAs) and offers a structured yet flexible environment to showcase your trading skills.

1-Step Standard

On the other hand, the 1-Step Standard challenge is tailored for manual traders. This challenge does not allow EAs but offers similar benefits to its Algo counterpart, with slightly different rules and drawdown limits.

Pricing Structure

Pricing is one of the key considerations for traders entering a challenge. Here's how the costs break down for the One Phase Challenges:

1-Step Algo

• $25,000 Account: $289
• $50,000 Account: $389
• $100,000 Account: $589

• $200,000 Account: $999

   

1-Step Standard

• $5,000 Account: $89
• $10,000 Account: $189
• $25,000 Account: $289
• $50,000 Account: $389
• $100,000 Account: $589
• $200,000 Account: $999

As you can see, the pricing structure is straightforward, with both challenges offering a range of account sizes to suit different budgets and trading styles.

Drawdown Type

The type of drawdown is a crucial factor in any trading challenge, and Optimal Traders offers a Balance-Based Drawdown across both challenges.

Drawdown Limits

• 1-Step Algo: 8% overall drawdown with a 4% daily drawdown limit.
• 1-Step Standard: 6% overall drawdown with no daily drawdown.

This drawdown structure helps ensure that traders maintain consistent risk management throughout the challenge.

Trading Rules

Both challenges have specific rules that traders must follow to succeed.

General Rules

• Profit Target: 10% target to pass the challenge.
• No Minimum Trading Days: Trade at your own pace.

• Unlimited Trading Period: No time pressure to reach your target.

   

1-Step Algo Specifics

• Daily Drawdown: 4% relative drawdown.
• EAs Allowed: Yes, but with restrictions on certain strategies like Martingale and Grid Trading.

• News Trading: Not allowed.

   

1-Step Standard Specifics

• No Daily Drawdown: Only an overall drawdown of 6%.
• EAs Allowed: No.

• News Trading: Not restricted.

   

Copy Trading and Restrictions

Copy trading is strictly prohibited in both challenges. Optimal Traders takes this rule seriously to ensure fairness and maintain the integrity of the challenge. Violating this rule can lead to immediate disqualification and termination of the account.

Profit Targets and Payouts

Meeting the profit target is the primary goal of these challenges, but once you've done that, the real reward is the payout.

Profit Targets

• 1-Step Algo: 10% profit target.

• 1-Step Standard: 10% profit target.

   

Payout Period

Once you meet the profit target, your payout will be processed within three business days. This quick turnaround time ensures that traders can enjoy the fruits of their labor without long delays.

Scaling Rules

Scaling is a significant benefit for traders who consistently perform well.

How Scaling Works

Once you hit a 4% profit, you can request a payout and be scaled up to the next account size. This incentivizes traders to keep performing well, knowing that their account size can grow as they do.

Leverage and Risk Management

Leverage is a powerful tool in trading, and Optimal Traders offers a 1:33 leverage on all one-step challenge accounts. This level of leverage is designed to give traders enough flexibility without exposing them to excessive risk.

Algorithmic Trading and EA Rules

Algorithmic trading is allowed in the 1-Step Algo challenge, but with strict guidelines.

EA Restrictions

• Allowed Strategies: Must not include Martingale or Grid Trading.
• HFT Allowed: Only during the evaluation phase.

These rules ensure that while traders can use advanced strategies, they must do so within a controlled environment.

News Trading and Weekend Holding

News events can be unpredictable, and trading around them requires caution.

News Trading

• 1-Step Algo: Not allowed.

• 1-Step Standard: Allowed, but traders should be aware of the risks like slippage and poor execution.

   

Weekend Holding

Both challenges allow for weekend holding, but traders must be aware of the risks associated with market gaps and spread changes during market close and open.

Lot Size Consistency

Consistency is key to passing these challenges, and lot size consistency is a big part of that.

How It Works

To qualify for a withdrawal, your lot sizes must be consistent throughout your trading. This rule is especially important in the funded phase, where your trading history will be reviewed before a payout is approved.

Account Management and IP Restrictions

Optimal Traders requires that each trader uses a unique IP address and device to access their account. Sharing IPs or devices with other traders can result in account termination due to suspicions of account management or copy trading.

Martingale and Grid Trading Restrictions

Both of these high-risk strategies are prohibited in the One Phase Challenges.

Martingale

This strategy involves doubling down on losing trades to recover losses. It's a risky approach that Optimal Traders does not allow.

Grid Trading

Grid trading, where multiple orders are placed above and below a set price, is also banned due to the potential for excessive risk and loss.

Conclusion

The Optimal Traders One Phase Challenge is an excellent opportunity for traders who want to prove their skills and potentially manage significant trading capital. With clear rules, competitive pricing, and the chance to scale up as you succeed, it's a challenge that rewards consistency, discipline, and effective risk management. Whether you prefer algorithmic trading or manual strategies, there's a One Phase Challenge designed for you.