FTMO is a well-known international prop firm with the best track record in the business, excellent trader service, 70% profit share, a selection of top brokers, easy trading guidelines, and funding up to $300,000 for top traders!
European prop trading business FTMO Trading is situated in Prague, Czech Republic. It began as a project in 2014, but by 2017, it had developed to the point where it was an international project. Day traders themselves, the founders wanted to create a platform that focused on risk management in addition to systematic trading. The founders designed a two-step application process to find successful traders.
In the meanwhile, traders from all over the world can apply to FTMO. The “FTMO Challenge” and “Verification” are the two parts of the application process. The trader’s educational programmes, the account analysis, and the performance coach support them during this process.
Pros
- The cost of the exam is about €155.
- Many traders are used to traditional platforms like MT4, MT5, and Ctrader.
- Numerous indicators, scripts, and counsellors have been created for these sites.
- 90% of the profit made after passing the test represents the trader’s potential profitability. The initial payout is 80%.
- The variety of prepaid plans. Candidates can select a demo deposit between 10,000 and 200 000 US dollars.
Cons
- Strict standards during the test duration. 10% of the deposit amount is the maximum loss that can be paid.
- 10% profit is the desired outcome, and one month is given
- A trader must put in three months of labor and complete two testing phases in place of one.
- Regarding the company’s financing, more is needed.
What are the FTMO users’ views?
A company’s customers’ reviews, opinions, and comments reveal a lot about how good or bad it may be. Because of this, we evaluate and examine each of these ratings to identify the company in question’s strengths and weaknesses.
To get a sense of what the prop trading firms clients think of it, we’d like to offer some of the most relevant and well-supported thoughts regarding FTMO in this area. Most reviews rank FTMO as the best proprietary trading firm—not just one of the best.
FTMO Rules
The FTMO rules are quite simple and transparent. Still, you should be aware that there may be fewer limitations during the evaluation stage than during the funded account, such as the ability to trade during the news.
To be more specific, you can trade during news during either of the two evaluation phases, but there will be some limitations once you’ve hit your goals and switched to a paid account. Numerous sites consistently list Funded Trader as one of the top prop trading firms.
The company maintains a calendar of significant news or events in this regard, including restricted and highlighted in red. No trader with an FTMO Trader or FTMO Active Trader account may open or close a position within two minutes of the restricted news or event’s start time and two minutes after it has started.
This personal trading firm has no restrictions or guidelines for instruments or tactics.
All trading strategies, including hedging and algorithmic trading through Expert Advisors, are permitted as long as they do not conflict with risk management guidelines like the maximum daily loss or overall loss.
The last two guidelines clearly define the maximum amount that can be lost each day or overall. Of course, the value specified will vary depending on the size of the account you are managing, both at the assessment and paid account stages.
How does FTMO’s trading with external capital operate?
The trader will be engaged directly by FTMO as a Funded Trader if he has cleared the verification step. Everything required for this is completing the freelancer contract’s required standards. The support staff can also offer assistance to traders.
The trader is then given outside funding by FTMO. The capital the trader used to trade in the Challenge equals this amount. However, trading continues to occur on a simulated demo account. FTMO sends the demo transactions to a typical live account via an expert advisor. Upon successful completion of the application, the trader will receive his application fees back along with the first profit split.
