Overview
FTMO is the latest in a burgeoning series of scouting programs. Propriety trading firms or “prop firms” put traders to the test (for a fee) through evaluations and challenges. The lucky few who pass are then funded with capital, and successful trades are split down a percentage with the broker. As scouting firms go, FTMO is an excellent all-rounder. Alongside a decent 80% payout for successful traders, FTMO equips users with webinars, workshops, and coaching.Things we didn't like:
Complaints about the platform freezingComplaints about lack of customer support
Why would you want an alternative to FTMO?
FTMO may be an all-around box ticker for many traders, but not everyone will be totally satisfied with the FTMO package. The FTMO Challenge fee may be a financial setback to some interested parties. There are traders who may very well have the know-how and confidence to successfully manage the larger accounts but who are understandably reluctant to fork out the initial fee. The FTMO constraints regarding trading during periods of news announcements are a turn-off to many traders as you cannot hold positions over the weekend. That said there is a certain amount of flexibility for the swing account however it comes with lower leverage.
In sum:
- FTMO has complex rules to comply with, in order to let you manage its capital.
- After passing the funded account challenge of FTMO, you are still on a simulated or demo account with virtual funds, rather than real money.
- There are time limits on FTMO challenges and pressures on account holders.
What other users do not like about FTMO
FTMO TrustPilot Customer Reviews, Feedback and Complaints
On Trustpilot, FTMO has currently 4.8k number of reviews with a TrustScore (the overall measurement of reviewer satisfaction) of 4.90/5.00.
Main Complains according to the Users' Reviews
- rules can be strict
- tools are pretty basic
What to look for in a FTMO Alternative?
With the above in mind, here is what we would suggest as an alternative to FTMO: a propriety trading firm that fills in the gaps above. Ideally, you want to keep the good and add the missing features. A scouting site that matches FTMO’s sleek user interface and ease of use. Ideally, you want an innovative platform that is trader-oriented and offers low to no restrictions on trading conditions.
As prop firms grow in popularity you are growing richer in options. If you want to become richer in other ways you may want to be discerning in your choice! Look for an alternative with decent leverage and trading platforms. Ideally, a reputable prop firm whose rules are straightforward, and which offers a fair payout to their successful traders. New platforms that are fresh off the prop firm boat may not yet have built up a successful or eminent reputation of being quite “green.” Just as age doesn’t necessarily go hand in hand with quality, so the newer prop firms without a reputation as yet may also be worth holding judgment and investing time and a one-off fee to test.
When you are after a better proprietary trading firm than FTMO you need to look for the following:
- After passing the challenge you need to be able to trade with real money and potentially earn real profits or losses.
- A program that is built on minimal and simple rules increasing your odds of success.
- There are no time limits on the challenge. You need to can trade at the pace which best suits their preference, skills set and needs.
In sum, when looking for the best proprietary trading firm bear these key qualities in mind: payout scheme, challenge difficulty and rules, reset and refund status, and leverage. After these fundamental pillars, you can then begin to compare the more nuanced differences such as visual interface, platform ease-of-use, and customer support levels. Bear in mind the hours you may be spending using this platform, make sure you are comfortable, and your trading needs are met!
Best FTMO alternatives – Proprietary Trading Firms like (or better than) FTMO
Rating breakdown
Things we liked:
Exclusive Discount Code (20% Off Exclusive Offer)Unlimited time for completion
Real Funding and Daily Payouts
Things we didn't like:
High challenge difficultyFunderPro Overview
Founded in Malta in late 2022 by a group of traders and investment managers, FunderPro was born out of the need to provide an opportunity for traders to be judged on their merit without pressure or unnecessary rules. FunderPro traders can trade in their own time, for as long as they want or need, there are no deadlines looming down nor petty restrictions to trip over.
Rating breakdown
Things we liked:
Up to 100% Profit SplitUnlimited Number of Trading Days
Fast Payouts
Things we didn't like:
10% Max Loss Limit on Accounts$10 Withdrawal Processing Fee
No swap free accounts
Funding Pips Overview
Funding Pips is a cutting-edge proprietary trading firm headquartered in Dubai. Specializing in CFD trading across various assets, including commodities, energies, currencies, cryptocurrencies, and indices, the firm offers traders access to evaluation (demo) accounts. Designed by traders for traders, Funding Pips provides standout features like up to 100% profit splits and fast payouts, making it a top choice for ambitious traders.
Rating breakdown
Things we liked:
Exclusive Discount Code (10% Off Exclusive Offer)No Trading Restrictions
MetaTrader4, MetaTrader5
Things we didn't like:
Minimum Trading DaysTrailing Drawdown
FXIFY Overview
FXIFY is a London-based proprietary trading firm that provides traders with access to up to $400,000 in capital, which can be scaled up to $4 million. Co-founded in 2023 by David Bhidey and Peter Brown, FXIFY offers flexible assessment programs, including One-Phase and Two-Phase options.