FTMO: Review and Analysis [2024]

There is hardly a better way to continue our review of FTMO prop firms than to list all the pros and cons of FTMO prop trading firms.

FTMO is a company that motivates traders to achieve success in their trading endeavors. They are seeking individuals with a strong sense of discipline who can effectively handle risk and prioritize long-term stability. Traders can enjoy the chance to earn impressive profits, with the freedom to handle account sizes of up to $200,000 and receive profit splits of up to 90%. You can achieve this by trading with a wide range of financial instruments, such as forex pairs, commodities, indices, stocks, and cryptocurrencies.

FTMO began its business operations in 2020 and has experienced significant expansion since its establishment. FTMO has traders registered in over 180 countries, ensuring a broad global reach. Each month, a staggering number of trades are initiated, surpassing 6 million. In 2021 alone, an impressive sum of $23 million has already been disbursed, showcasing our commitment to timely payouts, with an average processing time of a mere 8 hours.

FTMO has gained recognition from prestigious publications like Forbes and has been honored with the Deloitte Technology Fast 50 award for three consecutive years. Their assessment procedure includes the FTMO Challenge and the Verification stage. Traders who pass the evaluation process have the opportunity to join the FTMO Proprietary Trading firm and handle an account balance of up to $400,000.

A comprehensive trading journal for account analysis and exceptional educational resources make the offer thorough and appealing for novice traders and professionals.

Otakar Suffner, the CEO of FTMO, hails from the beautiful city of Prague, where he was born and raised. He holds the view that a university education is not a prerequisite for excelling as a trader or businessman, although it undeniably provides an advantage. He has a master’s degree in Economics, which he earned from Prague University. During that period, he also pursued his education in South Korea at Seoul National University.

Otakar has a b enthusiasm for sports. During his formative years, he would engage in the sport of tennis. Unfortunately, his skills were not sufficient to turn it into a profession. Currently, however, he engages in physical activities 3-4 times per week. He is primarily focused on fitness, bodyweight exercises, and the art of kickboxing.

He embarked on his trading career nearly ten years ago, initially focusing on Futures before eventually shifting his attention to Forex and CFDs. This allowed him to have greater flexibility when it came to determining the size of his positions. This was because he had a smaller account since his choices were very restricted at that point. As a trader, Otakar is highly analytical and relies heavily on statistical data, placing great trust in numerical information. He enjoys emphasizing the likelihoods, which empowers him to generate distinctive trading concepts.

FTMO of Key Features

• No personal funds at stake: The trader is not required to put their own money on the line, as FTMO supplies the trading capital.
• Profit sharing: Traders funded by FTMO are eligible to receive a portion of the profits they generate, typically reaching up to 70% or even higher.
• FTMO offers a range of educational resources, trading tools, and a supportive community to assist traders in achieving success.
• Expanding possibilities: As traders showcase unwavering triumph, FTMO has the potential to amplify the capital they oversee, enabling even more significant profit potential.

FTMO’s business model relies heavily on the achievements of the traders who receive funding. As traders generate more profits, FTMO also benefits by earning a share of the revenue. This creates a mutually beneficial situation for both the company and the funded traders.

Website:	ftmo.com
Date of foundation:	Jun 24, 2014
Account currency:	USD, EUR, GBP, CHF, CZK, CAD, AUD
Account Size:	$10,000, $100,000, $200,000, $25,000, $50,000
Brokers:	Liquidity Provider that Uses Real Trading Conditions to Simulate the Situation
Profit Split:	80% to 90%
Daily Loss:	5% – 10%
Tradable instruments:	Commodities, Crypto, Forex, Indices, Metals, Stocks
Email:	[email protected]

Whether FTMO prop firms are legal and how much you can trust them, you will find out right now in the FTMO brokers review.

Legal/Licence

FTMO is a company with a stellar reputation based in the Czech Republic. Additionally, it has received a rating of 4.9 out of 5.0 on Trustpilot, based on 5,004 reviews, and it was awarded the Technology Fast 50 Winner by Deloitte from 2019 through 2022.

The company maintains several subsidiaries for compliance purposes. FTMO Evaluation Global s.r.o. Manages all non-US prop applications, while FTMO Evaluation US s.r.o. is responsible for serving traders based in the United States. FTMO s.r.o. also manages the website.

Reputation

FTMO boasts an impressive customer rating of 4.9 out of 5. This is the top rating we discovered in the prop trading industry and serves as evidence of FTMO’s dedication to customer contentment. The predominant topic in the favorable FTMO reviews revolves around the company’s high level of professionalism and trustworthiness. A number of reviewers have highlighted the company’s transparency and praised the responsiveness and helpfulness of its customer service team.

FTMO stands out from other top prop firms by providing a unique account type and a two-step evaluation process. Moreover, they offer a wide range of advantageous characteristics, including a limitless trading duration, an initial withdrawal option available in just 14 calendar days, bi-weekly future payments, and an exclusive premium scheme.

FTMO’s Evaluation Program consists of two phases that traders must complete in order to become eligible for payouts. The desired profit margin for phase one is 10%, which decreases to 5% in phase two. Additionally, there are strict guidelines in place to limit daily losses to a maximum of 5% and to prevent losses exceeding 10%. There are no restrictions on the number of trading days you can have during either evaluation phase. Nevertheless, it is mandatory to engage in trading for a minimum of 4 consecutive calendar days during each evaluation phase. The Evaluation Program also offers a one-of-a-kind scaling plan, enabling traders to handle even larger account sizes effectively. When it comes to funding programs in the industry, the Evaluation Program truly sets itself apart. It offers a trading period without any limitations, allowing you to trade freely.

What’s more, you can make your first withdrawal after just 14 calendar days, giving you quick access to your earnings. With bi-weekly future payouts, you can enjoy a steady stream of income. And if you’re looking for something extra special, the program also offers an exclusive premium program.

FTMO sets itself apart from other top prop firms by providing a singular account option and a two-step evaluation process. Moreover, they offer a wide range of advantageous characteristics, including an endless trading duration, an initial withdrawal option in just 14 calendar days, bi-weekly upcoming payments, and a distinctive premium scheme.

As a single financing program option, FTMO offers its traders the opportunity to participate.

Evaluation Program

The Evaluation Program offered by FTMO allows traders to handle account sizes that range from $10,000 to $200,000. The goal is to find skilled traders who are successful and can effectively handle risk during the evaluation process, which consists of two steps. The Evaluation Program offers the flexibility to trade with leverage of up to 1:100. Additionally, you have the freedom to select your preferred account funding from a range of currencies, including USD, GBP, EUR, CZK, CAD, AUD, and CHF.

During the first evaluation phase, traders are expected to achieve a profit target of 10% without exceeding their 5% daily loss limit or 10% overall loss limit. Regarding time constraints, it’s important to mention that there are no specific restrictions on the maximum number of trading days in phase one. Nevertheless, you must engage in a minimum of four trading days in order to advance to phase two.

In the second evaluation phase, traders must aim to achieve a profit target of 5% without exceeding their maximum daily loss of 5% or maximum loss of 10%. Regarding time constraints, it’s important to mention that there are no specific restrictions on the maximum number of trading days in phase two. Nevertheless, you must engage in a minimum of four trading days before you can advance to a funded account.

After completing both evaluation phases, you will receive a funded account without any minimum withdrawal conditions. It is essential to adhere strictly to the guidelines of limiting daily losses to a maximum of 5% and overall losses to a maximum of 10%. Your initial payment will be processed 14 days after you open your funded account, and subsequent withdrawals can be made every two weeks. You will receive a profit split ranging from 80% to 90%, depending on the profit generated from your funded account.

Scaling Plan for Evaluating Programs

The Evaluation Program also includes a comprehensive scaling strategy. Suppose a trader has been consistently making profits over the past four months, with an average return of 10% during this period, and has successfully created at least two withdrawals. In that case, they will qualify for an increase in their account size. This increase will be equal to 25% of the initial account size. After the trader successfully expands their Evaluation Program, the profit split jumps to an impressive 90%.

Here’s an example:

• After four months: A qualified account with an initial balance of $100,000 has grown to $125,000.
• Following the next four months, a well-qualified account of $125,000 will experience growth to $150,000.
• Following the next four months, a qualified account with an initial value of $150,000 will grow to $175,000.

And so forth…

Assessment of Program Trading Regulations & Goals

• Profit Goal—Traders need to reach a specific profit percentage to successfully complete an evaluation phase, withdraw earnings, or expand their trading account. The desired profit margin for Phase 1 is 10%, while Phase 2 necessitates achieving a profit margin of 5%. Funded accounts do not have any predetermined profit goals.
• Maximum Daily Loss—The trader’s predefined limit on the amount they can lose in a single trading day without exceeding their account’s threshold. For all account sizes, the daily loss cap is 5%.
• Maximum Loss – The trader’s allowable limit for overall losses without exceeding the account balance. Every account, regardless of its size, has a cap on potential losses at 10%.
• Trading Duration Requirement: The minimum period you must actively participate in trading before completing an evaluation phase. Both evaluation stages must be completed within a minimum of 4 trading days.
• Weekend Trading Restrictions: Traders are not allowed to keep trades open over the weekend, and all trades must be closed before the market closes on Friday.
• Trading during high-impact news releases is strictly prohibited. It is not allowed to make any new trades or close existing trades on the specified instrument within 2 minutes before and after the announcement of specific news.

Enhancing Principles and Trading Goals:

Traders can select from two different account types: Standard and Aggressive. Each account category has its own set of criteria for the maximum allowable daily loss and minimum equity thresholds.

Regular Account:

• Maximum Daily Loss: 5% of the starting amount
• The initial balance must have a minimum equity of 10%.

Assertive Account:

• Maximum Daily Loss: 10% of the starting amount
• Equity requirement: A minimum of 20% of the initial balance is necessary.

Requirements for Eligibility and Increases in Capital:

Increases in capital for FTMO accounts occur in cycles lasting four months. In order to be eligible for a capital increase, traders are required to achieve a minimum net profit of 10% (or 20% for the Aggressive account) over four consecutive monthly cycles. Furthermore, traders are required to complete a minimum of two payouts within four months. The account balance must stay higher than the initial account balance (in profit) when scaling up.

Eligibility is evaluated automatically, and FTMO traders can track their progress with each Profit Split. If the necessary conditions are fulfilled, traders have the option to express their desire to increase the size of their account while going through the payout procedure. Subsequently, a fresh, expanded FTMO account will be allocated for the upcoming trading period.

Profit Splits

If you are able to complete the requirements of the Scaling Plan, FTMO prop businesses will not only grow the amount of your FTMO account by 25%, but they will also provide you the opportunity to receive a dividend of 90%. In the event that you would rather keep your Profit Split in your account so that it might grow and, as a result, build up your balance and drawdown buffer, you are free to do so.

For whatever reason, FTMO does not trade with a single common broker brand. Instead, it has formed a partnership with a tier-1 liquidity provider that offers the most accurate virtual representation of real-world market circumstances.

Trading Instruments

FTMO specializes in forex trading and offers a leverage of up to 1:100. This means that with a $10,000 account, you can trade with $1,000,000. FTMO provides a wide range of currency pairs for trading, including popular ones like EUR/USD and USD/JPY, as well as lesser-known pairs like USD/HKD or EUR/NOK. In total, there are 44 different currencies available for trading on the platform.

Additionally, traders have the opportunity to trade with a wide range of options. These include eight metals, 14 cash indices, four futures contracts, ten cryptocurrencies, and 23 equities through contracts for difference (CFDs).

Trading Platforms

FTMO offers support for the three most widely used trading platforms: MetaTrader 4, MetaTrader 5, and cTrader. All of them can be used for free without any additional charges on demo trading accounts and virtual funds.

Trading Fees

There is a requirement to make a payment in order to become a funded trader with FTMO. If you manage to achieve the status of a funded trader, you have the opportunity to recoup the initial fee by receiving a portion of your first profit split from your funded trading account.

If you are unable to complete the 3-step process, you can begin a new endeavor, but you will be required to pay the fee once more.

The fee structure is determined by two factors: the risk level you choose and the balance of your selected trading account.

You consistently make payments in the currency of your local area. For instance, if you reside in the United States, your payment is made in USD. If you reside in the European Union, your payment will be processed in Euro currency, and so on.

Level of Risk: Average

• A fee of 139.50 applies to an account with a balance of 10,000. If the balance is 25,000, the fee increases to 225.00. For a balance of 50,000, the fee is 310.50. A 100,000 account will incur a fee of 486.00, while a 200,000 account will be charged a fee of 972.00.

High Risk: Aggressive Approach

• A fee of 225.00 applies to an account with a balance of 10,000. If the balance is 25,000, the fee increases to 310.50. A 50,000 account will incur a fee of 486.00, while a 100,000 account will have a cost of 972.00.

As evident, the high-risk category does not offer 200,000 available accounts, and the expenses are comparable to the next tier up in the moderate risk level. For instance, if you opt for the standard risk level, you would pay 225.00 to acquire 25,000 accounts. However, if you choose the more daring aggressive risk level, you would only receive the 10,000 account challenge for the same price of 225.00.

How to open an account with FTMO prop trading firm? There is nothing complicated here; you don’t need any special knowledge. Just read the FTMO prop firms review and go step by step through this algorithm of actions:

1. Sign up with FTMO by completing the registration form and accessing the trading dashboard with your personal information.
2. Select Your Account – Select the currency for your account, determine the size of your account, choose the type of account you prefer, and decide on the trading platform that suits you best.
3. Choose Your Preferred Payment Option—Choose from a range of convenient payment methods, including credit/debit cards, bank transfers, Skrill, and cryptocurrency.

Customers can pay for an FTMO Challenge by bank wire transfer, debit or credit card, cryptocurrency, or Skrill.

Customer Support on FTMO Company

FTMO offers outstanding customer service, with a committed customer support team ready to help traders with any inquiries or issues. Traders can quickly get in touch with the support team through email, live chat, or phone, guaranteeing that they will receive quick and practical assistance.

Conclusion Review and Analysis About FTMO Prop Firm

Traders can select a single financing program at FTMO, which is the Evaluation Program, which is a two-step evaluation. FTMO is a recognized and trustworthy proprietary trading organization that offers traders this possibility.

The assessment Program offered by FTMO is a two-step assessment that is the industry standard. In order to become qualified to manage a funded account and receive profit splits ranging from 80 percent to 90 percent, one must first complete both stages of the examination. To be successful in obtaining funding, traders need to achieve profit objectives of ten percent in the first phase and five percent in the second phase. Considering that you are required to adhere to laws that stipulate a maximum daily loss of 5% and a maximum loss of 10%, these trading objectives are reasonable. As far as time constraints are concerned, you are not required to meet any maximum trading day criteria during either of the assessment phases. During each assessment phase, however, you are obliged to continuously engage in trading for a minimum of four calendar days. In conclusion, it is of the utmost importance to take note of the fact that the Evaluation Program includes a scaling plan, which gives you the opportunity to boost the beginning amount of your account.

We recommend FTMO to anyone who is looking for a trustworthy proprietary trading organization that offers excellent trading conditions and caters to a wide variety of individuals who have distinct trading styles. They provide traders with a variety of one-of-a-kind benefits, including an infinite trading time, a first withdrawal after only 14 calendar days, future payments every two weeks, and a VIP program that is exclusive to them. When all that FTMO has to offer to traders all around the world is taken into consideration, it is possible to consider them to be among the most successful prop businesses in the industry.

FAQs: About FTMO Prop Trading Company