Pricing
€89 – €1080 for accounts ranging from $10,000 to $200,000
Platform
Metatrader 4, MetaTrader 5, cTrader
Type
Evaluation
Customer Service
24/7 for emails, live chat, and WhatsApp
9 am – 5 pm CE(S)T, Monday to Friday for phone calls
Pros
- Free challenge trial
- Allowed to use EAs
- Pricing, regulations, and account kinds are all quite transparent
- Solid reputation
Cons
- 2-step evaluation process
- Uses demo account
- Weekend holdings and news trading are only permitted in their Swing Account
FTMO Review
One of the most established proprietary trading firms with funded trading accounts is FTMO. Funded traders can keep up to 90% of their profits. Forex, cryptos, commodities, indices, and stocks are examples of tradeable assets.
This FTMO review walks you through the sign-up procedure, the evaluation process, trading objective details, and pricing.
About FTMO?
The idea for FTMO.com, which was originally named Ziskejucet.cz, arose in 2014 in a small Prague office when a group of young day traders, including the three future founders, came together. Each contributed to the other’s trading system as well as differing perspectives on money and risk management.
Many traders in their groups saw the need for greater discipline, feedback, and more capital, which is why they chose to launch this project. As interest in the concept developed, more funding was secured, and in May of 2017, they were ready to unveil FTMO.com to the world.
For three years in a row, FTMO has been recognized by Deloitte with the Technology Fast 50 award, and the company has been featured in Forbes. The FTMO Challenge and the Verification are the two components of their evaluation process. Successful traders are given the opportunity to work for the FTMO Proprietary Trading firm, where they can oversee up to a $400,000 account balance.
Trading platforms including MetaTrader 4, MetaTrader 5, and cTrader are available through FTMO, together with a wide range of trading instruments like forex, commodities, indices, cryptocurrencies, stocks, and bonds.
Who Should Use FTMO?
Joining a prop firm is generally a good idea if you know how to trade effectively and carefully manage your risk. You obtain more capital to trade with and all you have to spend is a tiny joining fee in comparison to the amount of capital you will receive.
FTMO Platform & Features
Tradable Assets
A total of 44 different currencies may be traded on FTMO.
The firm’s main focus is forex (FX) trading. There are other currency pairs to choose from, including the EUR/USD and USD/JPY. Even less common pairs, such as USD/HKD or EUR/NOK, are available to forex traders.
In addition to forex trader options, FTMO now allows trading in 8 metals, 14 futures contracts, 10 cryptocurrencies, and 23 stocks.
Scaling Plan
The FTMO Account has four-month cycles for capital increases. For a capital increase, the trader must generate a minimum of 10% of net profit (or 20% for an aggressive account type) throughout four consecutive monthly cycles (or, for a normal account type, an average of at least 2.5% net profit per month or 5% net profit per month for an aggressive account type). Within the 4 months, the trader must handle at least 2 payments concurrently. At the moment of scale-up, the trader’s account balance must be more than the original account amount (in profit).
With each Profit Split, the eligibility is automatically assessed, and the FTMO Traders are provided with an explanation of the requirements and progress. If you fulfill the conditions, all you need to do is let them know during the payout processing that you want your account scaled up, and they will provide you with a scaled-up FTMO Account for the next trading session.
The profit split ratio for FTMO traders on the scale-up plan has been increased to 90/10. Increased Profit Split benefits newly scaled-up accounts alone; it does not apply to newly merged accounts into scaled-up accounts. The Profit Split ratio will become 80/20 if you want to merge a scaled-up account with a non-scaled-up account.
Although you are allowed to create several accounts, FTMO only allows for a maximum initial capital investment of $400k (or $200k for aggressive accounts). You may thus have four $100,000 accounts or two $200,000 accounts. Scaling is not included in the first capital allocator’s total. Keep in mind that for each new account, you must pay for and successfully complete the Challenge. If two FTMO accounts have identical risk and currency settings, you can merge them by contacting customer service.
Payment Methods
For the FTMO Challenge, you have the option of paying via a bank wire transfer, debit or credit card, cryptocurrency, or Skrill.
Withdrawals
When users submit invoices to FTMO, the company will pay using Skrill or a traditional bank wire transfer. At FTMO, they do not charge a fee for withdrawals. You will receive a certificate of withdrawal as proof of payment.
When sending a bill to the prop trading firm, you can choose to do it either as a company or as an individual. Make sure you handle your income under the tax laws in your nation.
Trading Rules
The trading objectives for the FTMO Challenge are determined by the risk level selected and the account amount.
First, you must decide on the sort of risk level you choose.
If you choose the Normal risk level, your maximum daily loss is 5% of the starting account balance. The total profit and maximum loss target is 10% of the starting account balance.
If you select the risk level Aggressive, all values will double. That implies your maximum daily loss is 10%, while your maximum loss and total profit target are both 20% of the starting account balance. As a result, with the aggressive risk level, you have more space for loss and must reach a greater profit objective.
Swing Account functionality is comparable to that of the Standard Account. In addition, the limit for total drawdown is set at 10%, and the limit for daily losses is set at 5%. However, the leverage on the Swing Account is 1:30, and the limits that apply to the Standard Account do not apply to the Swing Account in any way.
Traders are therefore permitted to keep positions without being subject to any restrictions, even throughout the course of the weekend and holidays. Additionally, they can trade at times of high-impact news events without encountering any problems.
Evaluation Process
There are two phases in the FTMO evaluation process. The so-called FTMO Challenge is the first stage. During the challenge, you will need to demonstrate your trading discipline, experience, and profitability by achieving the targets given in the trading objectives.
The first phase is the FTMO Challenge. For all accounts, the FTMO Challenge lasts 30 calendar days. That is, the maximum number of days allowed to achieve the specified targets is 30. If you can accomplish the profit goal in a shorter amount of time while still following all of the rules, you will advance straight to the Verification step. However, the needed minimum trading days are 10 days. So, if you archive your objective within 5 trading days, you must place trades on 5 additional days. In any case, you may comply with the requirements by making low-risk trades while keeping the profit objective recorded for the first five days.
You simply pay once to begin the challenge. Prices vary based on the size of the funded trading account. Another key part of the FTMO Challenge cost is that it is refunded to you with your first profit split after you become a funded trader.
The FTMO Verification is the second phase toward becoming an FTMO funded trader. You have twice as much time to meet the profit objective while adhering to all regulations. That implies you have 60 days to complete the Verification procedure.
Once you have successfully passed the FTMO Challenge, there is no further charge to participate in the Verification process. The minimum number of trading days is stated as 10 trading days, which is comparable to the conditions in the FTMO Challenge.
So, to achieve your profit target goal, you must trade on at least 10 trading days throughout 60 calendar days. After passing the Verification stage, you will be offered a position as a funded trader at FTMO. Your FTMO account will now be linked to the company’s live account. The profit share ratio is normally set to 80:20 for all FTMO traders. That is, you retain 80% of your profits.
FTMO also has a scaling plan. If you satisfy the Scaling Plan conditions, they will not only boost the amount of your FTMO Account by 25%, but the payout ratio will also immediately increase to 90:10.
FTMO Pricing
FTMO offers various account balances with a one-time refundable fee that depends on the account size. For a $10,000 account, the fee is €89. The fee for a $25,000 account is €155. If you choose a $50,000 account, the fee is €345, while a $100,000 account requires a fee of €540. The highest available balance, $200,000, comes with a fee of €1080. These fees apply to both normal and aggressive risk levels and are refunded with your first profit split after becoming a funded trader.
How to Open an Account?
1. Select Your Account
Account types are classified according to their risk level (normal vs. aggressive) and capital amount. Once you’ve decided on the best plan for you, select a currency, sign up, and create an account.
2. Select Your Platform
FTMO is accessible via MT4, MT5, and cTrader. MT4 and MT5 may be downloaded to desktop devices. cTrader is available as a mobile app for download from the Google Play Store and the Apple App Store. You may also utilize the prop firm’s web trader, which is available on a PC without the requirement for a download.
3. Begin The FTMO Challenge
Before you can begin earning money, you must first finish the evaluation process. The FTMO Challenge is the first step. You will be charged a fee, which will be determined by your risk tolerance and capital level. This is a one-time cost that will be refunded after you earn your first profit.
If you want to try before you buy, there is also the option of a free trial challenge. This 14-day trial allows you to get a taste of the Challenge while also honing your abilities.
4. Become an FTMO Funded Trader
You will be allowed to trade professionally with FTMO once you have satisfactorily fulfilled all the conditions in the evaluation process. To get paid, you must complete the usual KYC requirements. You may log in to the FTMO dashboard once you’ve joined FTMO. You can go to the FTMO account, risk-management tools, the trading academy, and more from here.
In Conclusion
The practice of prop trading is gaining more and more attention among individual traders. This lets them trade with larger amounts than they would normally be able to. Trading at FTMO with a funded account may be profitable, particularly for more experienced traders. This is because they earn a profit share of 80 or 90 percent of the total profit made, which is a significant proportion of the total profit. They have an excellent reputation in the market for really complying with their payout obligations.
The FTMO challenge is extremely difficult to pass and keep once you have been funded. If you’re a serious trader, you can try out for their trial.
FTMO Review Overall
FTMO is a top proprietary trading firm known for its flexible funding options and transparent pricing. With access to major trading platforms (MetaTrader 4, MetaTrader 5, and cTrader) and a wide range of assets (forex, cryptocurrencies, commodities, indices, and stocks), it offers favorable trading conditions. Their 24/7 customer support and reputable evaluation process foster trader development. Recognized by industry authorities, FTMO is credible and supportive, making it a strong choice for serious traders.
Pros
- Flexible funding options with refundable fees
- Wide range of tradeable assets (forex, cryptos, commodities, indices, stocks)
- Solid reputation with industry recognition
Cons
- Two-step evaluation process
- Weekend holdings and news trading only allowed in Swing Account
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