If you are a trader or up-to-date with the market news, you must have come across the name FTMO. Launched in May 2017, the proprietary firm FTMO has been funding traders worldwide. For the traders to get funded, they must go through an intense evaluation process with FTMO. They have organized a $2 million scale-up plan for the successful traders who are consistently profiting.
Here, we will give you an in-depth review of the prop trading firm, FTMO.
- 24/7 Live Chat/ customer support
- Educational content consisting of tutorials, webinars, and Q&As
- 25% Scaling Plan for profitable traders to increase their capital
- Free trial opportunity
- Payouts in every bi-weekly on demand
- You are allowed to trade with EA’s.
- Variety of trading instruments (forex pairs, indices, commodities, bonds, stocks, cryptocurrencies)
- Weekend holding option for the Swing traders
- You can’t earn until you pass all the assessment processes.
- An Intense Evaluation Process in Two Steps
- High subscription fees
- Even after being a real funded trader, they have to trade with the demo account
- Critical and hard for the scale-up plan
- No instant funding
Introduction to FTMO
FTMO is founded by Otakar Seffner to seek out the most skilled traders in the world. Having a vision for traders’ financial freedom, FTMO has been operating its funding program since September 2015. They have their headquarters in Opletalova, 1417/25, 110 00, Prague, Czech Republic.
FTMO offers up to $200,000 as part of the initial funded capital for the traders who successfully pass their evaluation processes. With the provided capital by FTMO, traders can trade in forex, commodities, indices, stocks, cryptocurrencies, and bonds.
To maximize the profits for the traders, FTMO offers up to 90% of the profit share. They have a bi-weekly payout system for the traders to enjoy their trade profits. However, they have two intense evaluation models to succeed in before the traders get access to their real-funded account and earn their trade profits.
FTMO Funding programs
FTMO has two kinds of accounts according to the risk level. These two models have two phases of assessment each to prove the eligibility of the traders before they receive the real funded account.
The Account for Normal Risk Levels
Under the normal risk level, there are five account types according to the amount of initial capital. The account capital starts at $10,000, and there are $25,000, $50,000, $100,000, and $200,000 accounts as well.
Traders with a normal risk level must complete a two steps evaluation process before receiving a real funded account: Challenge & Verification.
- Step-1 Challenge:
In the first step, a trader is required to trade at least 10 trading days in 30 days to hit the profit target of 10%. They cannot surpass the maximum daily loss of 5% or the maximum loss of 10%.
- Step-2 Verification:
After passing the first step, a trader is required to trade at least 10 trading days in 60 days to hit the profit target of 5%. They cannot surpass the maximum daily loss of 5% or the maximum loss of 10%.
After passing these two stages, traders will receive their fully funded account and a refund of their subscription fees. They will not have any limited days to trade, or any target profit to hit. However, traders need to maintain a minimum daily loss of 5% and a maximum loss limit of 10%.
The Aggressive Risk Level Account:
For the aggressive risk level, there are four account types according to the initial capital amount. There are accounts for the funding capital of $10,000, $25,000, $50,000, and $100,000.
Traders at an aggressive risk level also must go through two steps to receive the real funded account: Challenge & Verification.
- Step-1 Challenge:
In the first step, a trader is required to trade at least 10 trading days in 30 days to hit the profit target of 20%. They cannot surpass the maximum daily loss of 10% or maximum loss of 20%.
- Step-2 Verification:
After passing the first step, a trader is required to trade at least 10 trading days in 60 days to hit the profit target of 10%. They cannot surpass the maximum daily loss of 10% or maximum loss of 20%.
When you successfully pass these two phases, you will get a fully funded account with a refund of the one-time subscription fees. There won’t be any limited days to trade, any maximum trade period or any target profit to hit. However, you must follow the rules of loss limit: maximum daily loss of 10% and maximum loss of 20%.
The Swing Account:
There is an additional option for the swing trade lovers because FTMO offers weekend hold opportunities.
FTMO offers a free trial opportunity for traders if they want to try out FTMO’s trading system beforehand. This 14-day trial will demonstrate the trading challenges and assess your trading skills risk-free.
FTMO has initiated a 25% scale-up plan, up to $2,000,000 for the fully funded traders. Traders who are in constant profit with their real funded account will be eligible for the scaled-up amount when they meet these requirements. Also, while maintaining FTMO scale-up plan requirements, a trader needs to have a bigger balance than the initial funded capital to be eligible for the 25% scale-up fund.
During the two phases to get a real funded account, traders will not earn any profit, but their account will grow. And when they receive their real funded account, on the first payout, their subscription fees along with the 80% of the trade profit (trade with the real account) will be delivered to them.
When a trader gets the real funded account, they will receive 80% of any profit they make until the scale-up. And when they meet the scale-up-regulation and receive the 25% scale-up amount, they will earn a 90% profit share.
FTMO provides bi-weekly payout options on-demand, allowing you to withdraw your profit every 14 days. However, usually, you can withdraw your shared profit monthly.
Other than the subscription payment, there are no recurring fees or membership fees. You will be refunded these fees on your first profit withdrawal. FTMO doesn’t charge any commission from the traders either.
You need to be in profit and maintain the fixed loss limit according to your account type to withdraw your eligible profit amount.
FTMO has a 24/7 team of live chat and email support services, available in 14 different languages. You can also directly have phone conversations with them during the international working days from 8 a.m. to 5 p.m. (CEST).
FTMO is affiliated with big financial institutions that are responsible for providing liquidity in the market. So FTMO receives institutional data and enlightens its traders.
They post blogs, news and market updates, traders’ tips, and trading system guidelines in articles, webinars, and tutorial forms. There is also a section on FTMO’s site dedicated to traders’ psychological content.
FTMO is a regular on forum sites, like Forex Peace Army and Forex Factory.
FTMO has a variety of reviews from its users. On Trustpilot, FTMO has 4.8 ratings out of 5 from 1,725 reviews. And on the Forex Peace Army, they are rated 4.4 out of 5 by 509 reviewers.
With the intention of traders to reach their financial freedom and independence, FTMO is operating their proprietary trading successfully worldwide. Considering the high subscription fees and the intense evaluation phases, are some of the reasons to be uninterested in FTMO’s services. However, looking at the offerings, FTMO seems quite reliable and authentic to their words.