FTMO Review: Unveiling the Truth Behind Prop Trading (2024)

• Flexible trading platforms: MT4, MT5, and cTrader
• Diverse trading instruments
• Strong reputation with numerous success stories
• 90% profit split after first scaling
• Comprehensive educational resources and analytics tools

• Higher evaluation fee relative to some competitors
• No overnight and weekend positions allowed (except in FTMO SWING)

For Novice Traders:

√ FTMO Challenge – Aggressive

• The extra 60% challenge fee provides traders with double the maximum loss protection, easing rule violation concerns. While the profit target doubles, it offers traders a more relaxed environment to test and refine their strategies.

For Mid-level traders:

√ FTMO Challenge – Normal

• For mid-level traders skilled in risk management and leverage use, the standard risk option is preferable as it halves the profit target in both the FTMO Challenge and Verification stages.

For Experts:

√ FTMO Challenge – Normal

• Similarly for mid-level traders, the standard risk option is more suitable due to the halved profit target in the FTMO Challenge and Verification stages, with no time limit to meet those targets.
• For experts, the primary consideration is the initial balance, as scaling with FTMO is more challenging compared to other prop trading firms.

For Gamblers: ⚠️

FTMO may not be suitable for everyone, given its two-stage qualification process and the mandatory 4 trading days in each stage. FTMO strongly discourages gambling behaviors in trading. For a detailed understanding, read their article on the subject here.

FTMO is a prominent Forex proprietary trading firm that empowers skilled traders by providing them with substantial capital to maximize their trading potential. Based in the Czech Republic and established in 2014, FTMO has carved a niche for itself in the global trading landscape, earning recognition for its rigorous yet fair evaluation process, generous profit-sharing model, and unwavering commitment to supporting trader growth. With a blend of innovative technology, comprehensive educational resources, and a dynamic trading environment, FTMO stands as a beacon for aspiring and seasoned traders alike, offering a platform where talent and opportunity converge for optimum trading success.

Company Name: FTMO, s.r.o.

Year Founded: 2014

Headquarter: Czech Republic

Popular countries: United States, Mexico, Germany, United Kingdom, Brazil

Scaling up to: $2,000,000

FTMO account structure is designed for clarity and simplicity to cater to a wide range of traders. They offer various challenges like the 10k, 25k, 50k, 100k, and 200k, allowing traders to choose based on their skill level, risk tolerance, and trading strategy.

The Only thing traders in need to choose from are:

Risk Setting – Normal or Aggressive

Balance — 10k, 25k, 50k, 100k, and 200k (only available under normal risk setting)

The terms are identical among various balance

• Objective: This is the entry point for many, but it’s by no means basic. With a low initial fee, traders can demonstrate their skills before committing further.
• Fees:

• • $100k account: $95 upfront, $205 after passing the challenge.
  • $250k account: $225 upfront, $350 after passing the challenge.

• Features: Leverage of 1:10, no minimum days or trades required, and the potential to grow up to $4M.

FTMO offers a unique opportunity for traders to increase their trading capital in structured four-month cycles. Here’s how it works:

1. Capital Increase Criteria: Traders must achieve at least a 10% net profit over four months (or 20% for an Aggressive account). This averages to 2.5% net profit monthly on a standard account, or 5% on an Aggressive one. In addition, two payouts must be processed in this period.

2. Balance Requirement: At the time of scaling up, a trader’s balance should exceed the initial account value.

3. Automated Evaluation: Progress and requirements are auto-evaluated, with updates given during each Profit Split. Upon meeting the criteria, traders can easily opt for a scale-up when processing their payout.

4. Loss Limit Adjustments: Post scale-up, while the loss limit values adjust with the new account balance, the calculation basis remains unchanged (5% Max Daily Loss/10% Max Loss).

5. Further Increments: After every successful 4-month cycle meeting the criteria, traders can boost their demo capital by an additional 25% of their initial FTMO Account balance. However, the maximum limit caps at $2M per trader ($1M for Aggressive accounts).

6. Profit Split Enhancement: Those on the scale-up plan see their Profit Split ratio rise to 90/10. But remember, this improved split applies only to newly scaled-up accounts. Merging a non-scaled account with a scaled one will revert the split to 80/20.

The provided table then illustrates how an account balance evolves over time, assuming a trader began with a $400k USD FTMO Account and met the capital increment conditions.

FTMO operates a monthly default Profit Split on its accounts. However, traders are afforded flexibility in this regard:

1. Payout On-Demand: After 14 days from the first trade, traders can request a payout, given their account is profitable.

2. Adjustable Profit Split Day: This can be modified up to three times per withdrawal. It’s adjustable within a range of 14 to 60 days from the start of trading. If not adjusted by the end of the one-month cycle, it defaults to the cycle’s last day, with no more changes allowed for that period. For instance, if trading commences on 1st April, the initial Profit Split Day falls on 15th April, while the last possible day for that cycle is 31st May.

3. Retaining Profit Split: For those looking to reinvest and bolster their balance and drawdown buffer, profit can be retained in the account. Yet, FTMO will invariably extract its profit share.

4. First Payout Refund: Any refund associated will be processed during the first payout from an FTMO Trader account.

During the FTMO Challenge and Verification phases, traders enjoy more flexibility. They can maintain their positions open overnight and even throughout weekends. Additionally, there are no limitations on trading around news events during these stages, allowing traders to capitalize on potential market volatilities.

However, for FTMO Traders, specific trade restrictions apply based on the account type and the instruments they trade:

• Account Types Affected: FTMO Account or FTMO Account Aggressive (SWING Account is unaffected)

• Restriction Window: These traders are prohibited from initiating or closing trades on certain instruments 2 minutes before and 2 minutes after specific key news announcements.

It’s crucial for traders to be aware of these timeframes to ensure compliance and optimize their trading strategy.

Bootcamp Program — Daily Pause

Hyper Growth — Daily Pause

High Stake — Daily max. Loss

× Manipulation & Exploitation: Traders are not allowed to exploit errors in services or display prices. Use of slow or external data feeds for trades is prohibited.

× Collusive Trading: Taking simultaneous opposite positions, either alone or with others, in an attempt to manipulate trading is not permitted.

× Platform Misuse: Any trades contradicting the terms of the trading platform or the provider are forbidden.

× Software & High-Speed Trading: Usage of software, artificial intelligence, or ultra-high-speed mechanisms that provide an unfair advantage is banned.

× Gap Trading Restrictions: No trades should be made close to major global events or right before a financial market’s prolonged closure.

× Unconventional Trading: Trades that don’t reflect the norms of the Forex or any other financial market, or might financially harm the provider, are prohibited. This includes practices like overleveraging or one-sided bets.

× Account Accessibility: FTMO accounts are for personal use. You shouldn’t let third parties access or trade on your account, nor should you trade on someone else’s behalf.

For detailed rules and the latest updates, refer to section 5.4 of FTMO’s terms and conditions.

• Major Forex
• Minor Forex
• Metals
• Oil
• Indexes
• Stocks
• Crypto

1. FTMO Academy:

• Comprehensive Curriculum: Covering a wide spectrum from basic to intricate forex trading concepts, strategies, and methods to manage risk.
• Interactive Learning: Augmented with visual aids, engaging quizzes, and practical demonstrations for an immersive learning journey.

2. Trading Psychology:

• Emotional Intelligence: Modules focused on fostering emotional fortitude – crucial for consistent trading success.
• Decision-Making Skills: Tailored content to sharpen decision-making, vital for making critical choices in high-pressure scenarios.

3. Blog & Articles:

• Insights & Analyses: An expansive collection of articles, insights, and market analyses for traders to remain updated with evolving market dynamics.
• Expert Opinions: Beneficial insights from industry veterans, providing a deeper understanding of the market’s nuances.

4. FTMO App Education:

• On-the-go Learning: Access educational content anytime, anywhere through the FTMO app.
• Interactive Tutorials: Learn complex trading concepts through interactive mobile tutorials, tailored for app users.
• Real-time Market Updates: Stay updated with live market trends and news feeds directly on the app.

1. Customer Service:

• 24/7 Availability: A dedicated team accessible round-the-clock through email and live chat for immediate support.
• Multilingual Excellence: A team proficient in various languages ensuring clear communication with a diverse global clientele.

2. One-on-One Assistance:

• Personalized Help: Dedicated support for specific questions, challenges, or technical hitches.
• Expert Guidance: Solutions and advice from seasoned professionals ensuring traders are never in the dark.

3. Community Engagement:

• Forums & Discussions: An interactive space for traders to collaborate, share insights, and benefit from collective wisdom.
• Social Media Presence: Regular updates, trading tips, and engaging sessions across popular social media channels.