Trading in the financial markets can be an exhilarating and profitable endeavor, but it’s also a journey fraught with challenges and uncertainties. Many aspiring traders find it difficult to access the capital they need to get started or to overcome psychological hurdles that hinder their success. That’s where FTMO comes into play. FTMO is a platform that offers traders a chance to trade with substantial capital while providing a structured evaluation process to ensure that only the most talented and disciplined traders gain access to these resources. In this comprehensive review, we will delve deep into the various aspects of FTMO, including its evaluation process, account types, payout system, and more.
Introduction to FTMO
FTMO positions itself as a gateway to financial independence for traders. The platform offers traders the opportunity to trade up to $200,000 on an FTMO account and receive up to 90% of the profits they generate. This financial backing can be a game-changer for traders who are looking to scale up their trading activities and achieve their financial goals.
FTMO Impressive Statistics
Before we dive into the specifics of FTMO, it’s worth noting some impressive statistics that the platform proudly displays on its website. These statistics serve as a testament to FTMO’s credibility and success:
- $167M+ Paid Out to FTMO Traders: This figure highlights the substantial profits that traders have earned through the FTMO platform. It demonstrates that FTMO is not just a theoretical concept but a platform that has delivered tangible results to traders.
- 180+ Countries with Traders Registered: FTMO has a global presence, with traders from over 180 countries participating in their program. This international reach signifies the platform’s widespread appeal and trustworthiness.
- 16M+ Trades Opened Every Month: The high trading activity on the platform showcases the substantial trading volume and liquidity available to FTMO traders. It also suggests a vibrant and active community of traders.
- 8-Hour Average Payout Processing Time: FTMO’s commitment to efficiency is evident in its quick payout processing time. Traders can access their earnings swiftly, which is crucial for those who rely on trading as their primary source of income.
The FTMO Evaluation Process
The heart of FTMO’s offering lies in its unique two-step evaluation process, designed to identify and nurture trading talents. Let’s break down each step of this process:
Step 1: FTMO Challenge
The first step in the FTMO Evaluation Process is to pass the FTMO Challenge. This stage serves as a testing ground for aspiring traders to showcase their trading skills and discipline. To advance to the next step, Verification, traders must succeed in the FTMO Challenge.
- Proving Trading Skills: During the FTMO Challenge, traders need to demonstrate their ability to adhere to trading objectives. This includes managing risk effectively, following trading rules, and maintaining discipline.
Step 2: Verification
The Verification stage is the second and final step toward becoming an FTMO Trader. Once a trader passes the Verification stage, and their results are verified, they are offered the opportunity to trade on an FTMO Account with a substantial balance.
- Verification of Results: In this stage, FTMO verifies the trader’s trading performance to ensure consistency and adherence to the rules. Successful completion of this step leads to becoming an FTMO Trader.
Becoming an FTMO Trader
Upon becoming an FTMO Trader, traders gain access to an FTMO Account with a balance of up to $200,000. This opportunity is a game-changer for traders as it allows them to scale up their trading activities significantly.
- Profit Sharing: FTMO offers a generous profit-sharing model, with traders receiving up to 90% of their profits. This means that as traders succeed, they can enjoy a substantial portion of their earnings.
- Scaling Plan: FTMO’s commitment to long-term relationships with traders is evident through its Scaling Plan. Successful and consistent traders have the potential to see their account balance increase by 25% every four months, providing a clear path for growth.
FTMO Account Types: Normal & Aggressive
FTMO offers two distinct account types, allowing traders to choose the one that aligns with their risk tolerance and trading style. Let’s take a closer look at each:
Normal Account
The Normal challenge account offers a range of account sizes, each with a corresponding refundable fee. Traders can choose from account sizes starting at $10,000 and going up to $200,000. The key features of the Normal account are as follows:
- Trading Period: Normal accounts offer an unlimited trading period, providing flexibility for traders to achieve their objectives.
- Minimum Trading Days: Traders are required to complete a minimum of four trading days for both steps 1 and 2 of the challenge.
- Risk Limits: Normal accounts come with risk limits, including a 5% maximum daily loss, a 10% maximum overall loss, and profit targets of 10% for step 1 and 5% for step 2.
Aggressive Account
The Aggressive challenge account also offers various account sizes with corresponding refundable fees, starting at $10,000 and going up to $100,000. Here are the key features of the Aggressive account:
- Trading Period: Similar to the Normal account, the Aggressive account provides an unlimited trading period for traders.
- Minimum Trading Days: Traders must complete a minimum of four trading days for both steps 1 and 2 of the challenge.
- Higher Risk Tolerance: The Aggressive account is designed for traders with a higher risk tolerance, featuring risk limits of a 10% maximum daily loss, a 20% maximum overall loss, and profit targets of 20% for step 1 and 10% for step 2.
Key Highlights of FTMO
FTMO offers several unique features and benefits that set it apart from other trading platforms:
Swing Account
FTMO understands that traders have varying trading styles and preferences. The Swing Account allows traders to hold positions over the weekend and trade during macroeconomic releases without restrictions. This flexibility can be a valuable asset for traders who prefer swing trading strategies.
Scaling Plan
FTMO is committed to supporting traders on their journey to success. The Scaling Plan rewards consistent and profitable traders by increasing their account balance by 25% every four months. This incremental growth can significantly enhance a trader’s capital over time, enabling them to take on larger positions and potentially earn more substantial profits.
Free Trial
For those who are still unsure about committing to the FTMO program, there’s the option of the FTMO Free Trial account. This allows traders to experience a shortened version of the FTMO Challenge with the same trading conditions. It’s a risk-free way for traders to test their skills and determine if FTMO is the right fit for them.
FTMO Payout System
FTMO’s payout system is designed to provide flexibility and transparency to traders. Here are the key aspects of the payout system:
- Default Payout Ratio: By default, FTMO offers a payout ratio of 80:20, where traders receive 80% of the profits they generate. This is already a generous profit-sharing model compared to many other trading platforms.
- On-Demand Payouts: FTMO Traders can request payouts on demand, and these can be processed after just 14 days. This quick access to earnings ensures that traders have control over their finances.
- Customizable Profit Split Day: Traders can choose their Profit Split Day, and they have the flexibility to change it up to three times. This feature allows traders to align their payouts with their financial needs and goals.
- Scaling Plan Benefits: For traders who meet the conditions of the Scaling Plan, not only does their account balance increase by 25%, but the payout ratio also automatically changes to a remarkable 90:10. This reflects FTMO’s commitment to rewarding successful traders.
FTMO Trading Infrastructure
FTMO offers a robust trading infrastructure, providing access to trading accounts on popular platforms such as MT4, MT5, and cTrader. These accounts are powered by data feeds directly from a pool of prime liquidity providers. Here are some noteworthy features of FTMO’s trading infrastructure:
- Realistic Market Conditions: FTMO strives to simulate real market conditions, providing traders with super-raw spreads, very low commissions, and no markup on all demo trading accounts with virtual funds. This helps traders practice in an environment that closely resembles live trading conditions.
FTMO Coupon Codes & Discount
If you are interested in joining FTMO, you might want to know how to get discounts on their challenge fees by using coupon codes. Here are some tips on how to do that:
- Check the official website of FTMO for any ongoing promotions or special offers. Sometimes, they might announce discounts or free trials on their homepage or social media channels. You can also subscribe to their newsletter to get notified of any new deals or updates.
- Use a verified coupon code from a reliable source. There are many websites that claim to offer FTMO promo codes, but not all of them are valid or trustworthy.
- Apply the coupon code at checkout. Once you have found a coupon code that works for you, copy and paste it in the promo code box at the payment page of FTMO. Make sure to enter the code exactly as it is shown, without any spaces or extra characters. You should see the discount applied to your total amount before you confirm your order.
- Enjoy your savings and start your trading journey with FTMO. By using coupon codes, you can reduce the cost of your challenge and increase your chances of becoming a funded trader with FTMO.
Conclusion: Unlocking Trading Potential with FTMO
FTMO stands out as a unique and comprehensive platform that not only offers traders access to significant capital but also provides a structured evaluation process to ensure that only talented and disciplined traders succeed. The impressive statistics, flexible account types, generous profit-sharing model, and unique features such as the Scaling Plan and Swing Account make FTMO an appealing choice for traders looking to take their trading journey to the next level.
While the journey to becoming an FTMO Trader may be challenging, the platform’s educational resources, Account Analysis, and Performance Coaches are available to support traders every step of the way. With the potential for substantial profits and long-term growth, FTMO offers a promising path to financial independence for dedicated and skilled traders. However, it’s important for traders to thoroughly understand and adhere to the platform’s rules and risk management guidelines to maximize their chances of success. Overall, FTMO represents a promising opportunity for traders to unlock their trading potential and achieve their financial goals.
FAQ
What is FTMO’s maximum drawdown?
FTMO offers a maximum loss of 10% in the normal mode and 20% in the aggressive mode.
What is FTMO’s profit target?
FTMO’s Normal accounts come with profit targets of 10% for Step 1 and 5% for Step 2. The Aggressive accounts come with profit targets of 20% for Step 1 and 10% for Step 2.
What are FTMO’s minimum and maximum trading days?
FTMO offers 4 minimum trading days and no maximum trading days.
What are FTMO’s challenge fees?
FTMO’s challenge fees range from €155 to €1,080 depending on the account type and balance.
Does FTMO offer a retry?
Based on the web search results, it seems like FTMO offers a retry.
Does FTMO offer a fee refund?
Yes, FTMO offers a fee refund.
What is FTMO’s profit split?
FTMO offers a generous profit-sharing model, with traders receiving up to 90% of their profits. This means that as traders succeed, they can enjoy a substantial portion of their earnings.
Does FTMO offer a scaling plan?
Yes, FTMO offers a scaling plan.
Does FTMO allow expert advisors?
Based on the web search results, it seems like FTMO allows expert advisors.
Does FTMO offer a free trial?
Yes, FTMO offers a free trial.
What is FTMO’s minimum deposit?
Based on their website, FTMO companies do not act as a broker and do not accept any deposits. The offered technical solution for the FTMO platforms and data feed is powered by liquidity providers.
What are FTMO’s brokers?
Based on the web search results, it seems like FTMO has partnered with several forex brokers where you can trade your challenge and obtain FTMO accounts. Some of these brokers include CMC Markets and GBE Brokers.
What are FTMO’s platforms?
FTMO uses MetaTrader 4, MetaTrader 5, and cTrader.
What is FTMO’s leverage?
Based on the web search results, it seems like FTMO’s leverage is set at 1:100.
Is FTMO legit?
You might be wondering if FTMO is legit or not. After all, there are many scams and frauds in the trading industry that promise unrealistic returns or charge hidden fees.
FTMO has received lots of positive reviews that praise FTMO for their professionalism, transparency, customer service, and payout process. Many reviewers have shared their experiences of passing the challenge and verification phases, receiving their funded accounts, and getting their profit splits on time. Some of them have also posted screenshots or videos of their payouts as proof.
Some other reviews are negative and criticize FTMO for their strict rules, technical issues, or lack of support. Some reviewers have complained about failing the challenge or verification due to violating the maximum loss limit, daily loss limit, or minimum trading days. Some of them have also reported problems with the trading platforms, such as delays, glitches, or errors.
Some of the reviews are neutral and provide balanced feedback on FTMO. They acknowledge the pros and cons of FTMO and give suggestions for improvement. They also advise potential traders to do their own research, practice their strategies, and follow the rules before joining FTMO.
Based on these reviews, it seems that FTMO is a legit platform that offers a genuine opportunity for traders to trade with a funded account. However, it is not a guarantee of success or easy money. It requires discipline, skill, patience, and adherence to the rules. It also involves risks and challenges that might not suit everyone’s trading style or preference.
FTMO’s alternatives
If you are looking for alternatives to FTMO, here are some options: E8 Funding, FundedNext, The Funded Trader, BluFX, SurgeTrader, Fidelcrest, and so on.
It’s always a good idea to thoroughly research and compare different options before making a decision.
FTMO
Free Trial
Pros
- charge any additional or hidden fees
- Trading of prop firms capital without the risk
- Profit split where traders receive between 80% and 90% of profits
- The fee is refundable once a trader passes the evaluation process and make money with the funded account
- Transparent pricing, rules and account types
- Good choice of forex currency pairs
- Flexible account types
- Popular MT4, MT5, and Ctrader platforms
- andidates can choose a demo deposit from 10 thousand to 200 thousand US dollars. There are tariff plans that span from standard to aggressive trading
- Flexible leverage available
Cons
- Limited asset classes to trade
- Can be overwhelming to new traders
- Must meet strict criteria to qualify
- The allowable maximum loss is 10% of the deposit amount
- The target profit is 10%, for which 1 month is provided
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
