|💰 Fees:||The FTMO Challenge with an initial capital EUR 10k balance costs €155; 25k balance for €250; 50k balance for €345; 100k balance for €540; 200k balance for €1080; Scaling plan up to $2 million.|
|🚀 Profit split:||FTMO will pay out up to 90% profit share on a monthly basis. Periodically, the firm will allocate more balance into your FTMO Account if you consistently profit.|
|✔️ Evaluation:||“FTMO Challenge,” a two-step evaluation|
|🎯 Profit Target:||10% for Step 1 and 2 in Normal Mode. 20% for Step 1 and 10% for Step 2 in Aggressive Mode.|
|⚓ Maximum drawdown (MDD):||Normal Mode: 5% Maximum daily loss. 10% Maximum loss. Aggressive Mode: 10% Maximum daily loss. 20% Maximum loss.|
|⌛ Trading Period:||The FTMO Challenge duration is 30 calendar days.|
|⚖️ Leverage:||The leverage offered is up to 1:100 (Forex) and can be lowered upon request. cannot be increased. The swing account type has leverage of 1:30 (Forex).|
|🔧 Instruments:||Forex, Indices, Commodities, Cryptocurrencies and Stocks.|
|📰 Allow Trade News:||Yes in FTMO Challenge and Verification. After passing the Evaluation Process there are restrictions (except for Swing accounts).|
|🔄 Weekend Position:||Yes in FTMO Challenge and Verification. After passing the Evaluation Process there are restrictions (except for Swing accounts).|
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.
The FTMO has a visually stunning interface and makes bold claims to be the “best proprietary trading firm you can find.” Does the package live up to the wrapping paper? Let’s unpack the details of this popular scouting program and assess whether it provides enough bang for your buck.
The idea behind using prop trading is to maximize your leverage with minimal capital. For a sign-up fee (€155), you can then test your trading skills. If your mettle passes the test, you can begin trading with up to 100k in your account. Trading proprietary firms differ in the deals they cut with their winning traders. FTMO scores highly on this metric, with a base payout of 80% and up to 90% on profits over 25% ROI.
FTMO began operations in 2017 and won the Deloitte Technology Fast 50 award for the last three years. Prague-born engineer Otakar Suffner is the CEO and founder of FTMO. His trading background began with Forex, but he moved to CFDs and futures to gain access to more “freedom with your position sizing.” Enter the CFD Challenge, where if you play your trading cards right, you could be trading with 400,000 euros in your account.
What are funded accounts?
Scouting firms such as FTMO use inbuilt “challenges” to scout for expert traders. For a small sign-up fee, traders can test their abilities through a number of tests. The small percentage who pass the evaluation are then funded and can begin trading in partnership with the scouting site. The firm in question will assume the risk of losses but will share the rewards with the trader. Scouting firms are not to be confused with depository prop firms (also known as first loss or broker-dealers) or traditional prop firms. These latter companies use more formal arrangements, hiring traders on a long-term or spot basis instead of via challenges.
Scouting firms have been accelerating in popularity over recent years because of their accessibility. Retail traders held back by their lack of funds can vastly increase their leverage once they have proved themselves. The firms vary in features (evaluation fees, trading capital, educational resources), and this is how we will assess FTMO. How does it compare to other scouting firms?
FTMO Challenge review
Overall, the FTMO Challenge blows many competitors out of the water. You will find only the disgruntled traders who failed the challenge are likely to complain – the lucky few can trade with up to $400,000 and walk away with up to 90% of the profits. This generous profit split is one of the highest in the industry. Consistently successful traders may also find their available leverage increasing up to a total of $2 million. Best of all, profits are shared but FTMO will take the hit of all losses.
The FTMO Challenge opens doors to more than just forex, traders who pass can then access futures, metals, and equities. This trading flexibility adds significant shine to the FTMO Challenge. The feedback features are another impressive add-on; FTMO Challenge traders are helped along the way by real-time advice and tracked trading to help improve their performances.
The targets are built on a sliding scale which is trader-friendly. In the first phase of the FTMO Challenge, there is a 10% profit target. In Step 2 of the Challenge however, this is halved to 5%. Finally, the fact that FTMO reimburses the sign-up fee to the traders who pass the challenge is a generous gesture (not replicated by all prop firms).
Let’s talk about the good stuff…
"Not all that glisters is gold," however. FTMO may have a decent package, but it is not perfect. The evaluation fee will set any trader back, and trading is heavily limited during news announcements. The “daily limit” is, as a matter of fact, two limits; one on the day and the other for each trade (regardless of time). This subtlety (alluded to in the small print) does have an impact when it comes to specific strategies, such as profitable swing trading. Users have also complained about the platform freezing and a lack of customer support.
Otakar Suffner is the CEO of FTMO, who was born and raised in Prague. He believes you don’t need a university education to be a good trader or businessman, although it certainly helps. This was due to having a smaller account since his options were minimal then.
As a co-founder of FTMO, a dynamic and ambitious company, Otakar and his team actively seek out and financially support trading talent in financial markets. Prior to launching FTMO, Otakar dedicated three years to full-time trading before deciding to fully commit to the project.
In his approach to trading, Otakar is highly analytical and data-driven, placing great emphasis on statistics. He leans towards probability-based strategies, leveraging numbers to develop unique and innovative trading ideas.
|Channel||FTMO Social proof|
|Account with 217k followers|
|Account with 73.5k followers|
|Account with 37.2k followers|
|Youtube||Account with 90.7k subscribers and 218 uploaded videos|
|Telegram||Does not have a Telegram channel|
|Discord||Does not have a Discord channel|
|TrustPilot||FTMO TrustPilot Customer Reviews, Feedback and Complaints|
|Trustpilot||On Trustpilot, FTMO has currently 4.8k number of reviews with a TrustScore (the overall measurement of reviewer satisfaction) of 4.90/5.00. Reviewers embracing FTMO most frequently mention quick pass time for verification, and customer support
, and excellent trading conditions. FTMO also has a fast and reliable support team that will provide you with all the necessary information you require from them or if you are unsure of anything.|
FTMO hasn't replied to negative reviews.
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