FTMO is a proprietary trading firm that provides funding to traders through a unique program known as the FTMO Challenge. The firm’s mission is to find successful traders who can manage their funds responsibly and profitably. The FTMO Challenge is a two-step evaluation process designed to assess a trader’s skills, discipline, and risk management capabilities.
The FTMO Challenge
The first step in the evaluation process is the FTMO Challenge. This is a simulated trading account where you need to prove your trading skills and discipline in observing the Trading Objectives. The challenge requires you to trade for at least 10 days during the testing period, with at least one position opened each day.
The challenge comes in two variants – Standard and Aggressive. The Standard Challenge has a maximum daily loss of 5% of the initial balance and a maximum loss of 10% of the initial balance. The profit target is also 10% of the initial balance. The Aggressive Challenge, on the other hand, has a maximum daily loss of 10% of the initial balance, a maximum loss of 20% of the initial balance, and a profit target of 20% of the initial balance.
Verification
Once you pass the FTMO Challenge, you move on to the Verification stage. This is the second and final step towards becoming an FTMO Trader. The Verification stage is designed to confirm that your success in the Challenge wasn’t just a fluke. The Verification Period no longer has a time limit, meaning traders can take their time to complete the profit target, which was already reduced in the first place, making it more favorable to the trader. The profit target is reduced by 50%, now being only 5% in the Verification.
Becoming an FTMO Trader
Upon successful completion of the Verification stage, you become an FTMO Trader. As an FTMO Trader, you trade responsibly and consistently, and you can receive up to 90% of your profits. If you consistently generate profits on your FTMO Account, your account can be scaled according to FTMO’s Scaling Plan.
Benefits and Trading Conditions
FTMO offers a range of benefits to its traders. These include access to their trading applications, a choice of platforms (MT4, MT5, cTrader), no limits on tradeable instruments (Forex, Commodities, Indices, Crypto, Stocks, Bonds), and no limits on the volume traded. They also offer customer support in 15 languages and a thorough account analysis for every account.
Payout System
The FTMO Payout System is designed to be trader-friendly. The Profit Split on the FTMO Account is done on a monthly basis by default, but you have the option to place a payout on-demand after a period of 14 calendar days from the first placed trade on the account. You can receive your profits by a regular bank wire transfer, Skrill, or cryptocurrencies, and FTMO doesn’t charge any commissions for withdrawals.
Scaling Plan
FTMO also offers a Scaling Plan for traders who consistently generate profits. The Scaling Plan allows for balance increments in four-month cycles, provided you meet certain conditions such as generating at least 10% of net profit in four consecutive monthly cycles and processing at least 2 payouts within the 4 months period. If you meet these conditions, your initial account balance can be increased by 25% at the end of the Reference Period.
Costs Involved
To participate in the FTMO Challenge, there is a one-time fee starting at €155 for the $10,000 account size. This fee is returned together with the first payout. The fee amount depends on the initial balance you choose for the FTMO Challenge.
Highlights
The FTMO Challenge is a comprehensive evaluation process that offers a unique opportunity for talented traders to manage large trading accounts and earn substantial profits. It’s designed to ensure that only the most disciplined and skilled traders are entrusted with FTMO’s capital, and it offers a range of benefits and opportunities for growth and scaling for successful traders.
FTMO is a reputable firm in the industry, providing a platform for traders to showcase their skills and earn from their trading prowess. The firm’s model is built on the belief that a good trader is not determined by age or education, but by qualities such as discipline and a strong work ethic.
The firm’s trading conditions are some of the best in the industry, with no recurrent charges or other fees, no limits or restrictions on your trading style, and access to a variety of tradeable instruments. They also offer the flexibility of holding trades over the weekend and trading during high-impact news. Plus, a new update on terms removing the time limit for taking the FTMO Challenge was removed, making it easier to pass and become a funded FTMO trader.
The FTMO Challenge and Verification stages are designed to ensure that traders can manage their risk effectively and adhere to the firm’s trading objectives. The firm provides a thorough account analysis for every account, ensuring that traders have all the information they need to improve their trading strategies and performance. FTMO provides a unique and rewarding opportunity for skilled and disciplined traders. The firm’s comprehensive evaluation process, favorable trading conditions, transparent payout system, and opportunities for growth make it an attractive option for traders looking to take their trading career to the next level.
Quick Details of the FTMO Challenge
| Key Aspect | Details |
| Program Costs | One-time fee that starts at €155 for the $10,000 account size |
| Available Funding | Initial balance up to $200,000 |
| Profit Sharing | Up to 90% of profits for the trader (80/20 split by default, 90/10 on the Scale-up plan) |
| Maximum Drawdown | 10% of the Initial Balance for the Standard Challenge, 20% of the Initial Balance for the Aggressive Challenge |
| Evaluation Duration | FTMO Challenge: Minimum 10 trading days, and a new update removes the time limit for the Evaluation Phase |
| Profit Targets | FTMO Challenge: 10% of the Initial Balance, FTMO Challenge Aggressive: 20% of the Initial Balance, Verification: 5% of the Initial Balance, Verification Aggressive: 10% of the Initial Balance |
| Money Back Guarantee | The fee for the FTMO Challenge is returned together with the first payout |
| Other Trading Rules | At least one position must be opened each day during the testing period, no limits on tradeable instruments, no limits on the volume traded, holding trades over the weekend, and trading during high-impact news are allowed |
| Scaling Plan | Balance increments in four-month cycles, provided certain conditions are met (e.g., generating at least 10% of net profit in four consecutive monthly cycles and processing at least 2 payouts within the 4 months period) |
| Payout System | Monthly profit splits by default, with the option to request a payout after a period of 14 calendar days from the first placed trade on the account |
| Payout Methods | Regular bank wire transfer, Skrill, or cryptocurrencies |
| Maximum Allocation | $400,000 per trader or per strategy, at any given time |
| The ceiling for Balance Increments | $2M per trader |
Note: Please verify the details with the FTMO website or customer service. The features may vary and are subject to change.
What are the Experiences of Other Traders?
FTMO enjoys a high rating of 4.9 out of 5 stars, based on over 1,000 reviews. This suggests a high level of satisfaction among a significant number of traders who have participated in the FTMO Challenge. However, on Reddit, there are threads where traders have expressed negative feedback about FTMO, indicating that experiences with the program can vary.
Positive Feedback
Many traders appreciate the challenging yet fair nature of the FTMO Challenge. They see it as a valuable opportunity to test and improve their trading skills. The support provided by FTMO is also frequently praised, with traders appreciating the firm’s commitment to helping them succeed. Additionally, the size of the funded accounts offered by FTMO is seen as a major advantage, providing traders with the opportunity to trade with significant capital. The new update on rules removing the time limit for the evaluation phase was well received by FTMO traders.
Negative Feedback
On the other hand, some traders find the FTMO Challenge too difficult. The challenge’s stringent requirements and high standards, while designed to ensure only the most capable traders are selected, can be a hurdle for some. The fees associated with participating in the FTMO Challenge are also a point of contention for some traders, who consider them to be high. Lastly, while many traders praise FTMO’s support, there are those who have had less positive experiences, citing slow response times.
Comparison with Other Funded Trader Programs
When compared to other funded trader programs, FTMO stands out for its large funded accounts and supportive approach. However, the difficulty of the FTMO Challenge and the associated fees can make other programs seem more appealing to some traders. As with any trading program, potential participants should carefully consider their own trading skills, risk tolerance, and financial situation before deciding to participate.
FTMO’s funded trading program has both its advocates and detractors. The firm’s high standards and challenging evaluation process can be seen as both a strength and a weakness, depending on a trader’s perspective and experience. As always, it’s important for traders to conduct thorough research and consider multiple sources of feedback when evaluating any trading program.
247trading Final Impressions on the FTMO Challenge
The FTMO Challenge is a unique and compelling opportunity for skilled and disciplined traders. It offers a pathway to manage large funded accounts, up to $200,000, which is a significant amount compared to many other funded trader programs.
The two-step evaluation process, consisting of the Challenge and Verification stages, is designed to ensure that only traders who can demonstrate both skill and discipline are selected to manage FTMO’s capital.
One of the standout features of the FTMO Challenge is the favorable profit split, with traders receiving up to 90% of profits. This, combined with the potential for account scaling through the firm’s Scaling Plan, provides successful traders with a significant earning potential.
FTMO also offers a high degree of flexibility in trading, with no restrictions on trading style or instruments. This allows traders to leverage their unique strategies and expertise. However, it’s important to note that FTMO has strict risk rules, including a maximum daily loss and a maximum loss limit, encouraging traders to adhere to effective risk management strategies.
The firm provides comprehensive support to traders, including educational resources, detailed account analysis, and customer support. This supportive approach can be a valuable resource for traders looking to improve their skills and performance.
In terms of costs, there is a one-time fee to participate in the FTMO Challenge, which is returned with the first payout. This makes the program accessible to many traders. The firm also has a transparent payout system, processing payouts on a monthly basis by default, with options for bank wire transfers, Skrill, or cryptocurrencies.
The FTMO Challenge offers a unique and attractive opportunity for skilled and disciplined traders. It stands out for its large funded accounts, supportive approach, and opportunities for growth.
However, the challenge’s requirements are rigorous, and potential participants should assess their own trading skills, risk tolerance, and financial situation before deciding to participate.
All in all, FTMO offers a competitive package that could be a stepping stone to a successful trading career for the right individual, and if all the rules and objectives align with your risk and trader profiles, this could be the best program for you.
Commonly Asked Questions about the FTMO Challenge
FTMO offers a number of attractive features that make it a competitive option for aspiring traders. If you are looking for a funded trader program with a high profit share, no recurrent fees, and a fast evaluation process, then FTMO is a good option to consider.
Q1: What is the FTMO Challenge?
A1: The FTMO Challenge is a two-step evaluation process designed by FTMO to identify skilled traders who can manage large trading accounts responsibly and profitably.
Q2: How much does the FTMO Challenge cost?
A2: There is a one-time fee to participate in the FTMO Challenge. The fee varies depending on the initial balance chosen for the challenge.
Q3: What is the maximum account size I can manage with FTMO?
A3: FTMO offers traders the opportunity to manage accounts with a balance of up to $200,000.
Q4: What is the profit split between the trader and FTMO?
A4: FTMO offers a favorable profit split, with traders receiving up to 90% of profits.
Q5: What is the FTMO Scaling Plan?
A5: The FTMO Scaling Plan allows for balance increments in four-month cycles, provided certain conditions are met. This provides an opportunity for traders to increase their trading balance and potential earnings.
Q6: Are there any restrictions on trading style or instruments with FTMO?
A6: FTMO does not impose restrictions on your trading style or the instruments you can trade, giving you a lot of flexibility.
Q7: What kind of support does FTMO provide?
A7: FTMO provides educational resources and customer support to help traders succeed.
Q8: How difficult is the FTMO Challenge?
A8: The FTMO Challenge is known for being quite difficult. Traders must adhere to strict rules and meet specific profit targets.
Q9: What are the fees associated with the FTMO Challenge?
A9: There is a one-time fee to participate in the FTMO Challenge. This fee is returned with the first payout, and starts at €155 for the $10,000 account size.
Q10: What are the risk rules with FTMO?
A10: FTMO has strict risk rules, including a maximum daily loss and a maximum loss limit. If these are breached, the trader's account can be closed.
Q11: Do I trade on a live account during the FTMO Challenge?
A11: Traders initially trade on a demo account during the Challenge and Verification stages.
Q12: What is the profit target for the FTMO Challenge?
A12: The profit target for the FTMO Challenge is 10% of the Initial Balance for the Standard Challenge and 20% of the Initial Balance for the Aggressive Challenge.
Q13: How does the payout system work with FTMO?
A13: FTMO processes payouts on a monthly basis by default, but traders have the option to request a payout after a period of 14 calendar days from the first placed trade on the account.
Q14: How can I receive my profits from FTMO?
A14: You can receive your profits via bank wire transfer, Skrill, or cryptocurrencies.
Q15: What is the maximum allocation per trader or per strategy with FTMO?
A15: FTMO allows a maximum allocation of $400,000 per trader or per strategy, at any given time.
Q16: What is the ceiling for balance increments with FTMO?
A16: Increments of demo capital have a ceiling of $2M per trader.
Q17: How long is the evaluation duration for the FTMO Challenge?
A17: The FTMO Challenge requires a minimum of 10 trading days, and the Verification stage can last up to 60 days.
Q18: Is there a money-back guarantee with the FTMO Challenge?
A18: The fee for the FTMO Challenge is returned together with the first payout.
Q19: Are there any other trading rules I should be aware of for the FTMO Challenge?
A19: At least one position must be opened in each of the minimum 10 trading days required for the FTMO Challenge. Also, there are maximum daily loss and maximum loss limits that must not be breached.
Q20: How does FTMO compare to other funded trader programs?
A20: FTMO stands out for its large funded accounts, supportive approach, and the potential for account scaling. However, the difficulty of the challenge and the associated fees can make other programs seem more appealing to some traders.
