FTMO is a proprietary trading firm that offers funded trading accounts to traders who are able to demonstrate their discipline, skills, and profitability through the FTMO Challenge.
The company was founded in 2020 and has quickly gained a reputation as one of the fastest growing firms in the industry.
With registered traders in over 180 countries and over 6 million trades opened every month, the firm has paid out over $23 million so far in 2021 with an average payout processing time of just 8 hours.
The evaluation process for becoming a funded trader consists of two steps: the FTMO Challenge and the Verification. During the Challenge, traders have 30 calendar days to prove their profitability by meeting certain trading objectives.
The minimum number of trading days is 10, but if traders are able to meet the profit target faster, they can advance directly to the Verification step.
The Verification process has the same profit targets as the Challenge, but traders have double the amount of time to meet them, with 60 calendar days available.
FTMO
Summary
FTMO is a proprietary trading firm that offers funded trading accounts to traders who can demonstrate their discipline, skills, and profitability through the Challenge.
With a wide range of tradeable assets and excellent educational resources, FTMO is a reliable choice for traders looking to advance their careers and achieve success in the world of trading.
Overall, FTMO is a reputable and reliable choice for traders looking to gain access to funded trading accounts. With a transparent evaluation process and a commitment to providing educational resources, It is well-suited for traders at all levels of experience.
| Feature | Description |
|---|---|
| Founded | 2020 |
| HQ | Europe |
| Features | Funded trading accounts |
| Technology | Browser-based application, desktop and mobile platforms |
| Payouts 2021 | $23M+ |
| Trial | Yes |
| Evaluation Process | Two-step process consisting of the Challenge and Verification |
| FTMO Challenge | 30 calendar days to reach defined profit target with minimum of 10 trading days; fee is refunded with first profit split once funded |
| Verification | 60 calendar days to reach defined profit target with minimum of 10 trading days; successful completion leads to offer to become funded trader |
| FTMO Trader | After successful completion of FTMO Challenge and Verification, traders become funded and manage an account balance of up to $400,000 with profit split of up to 90% |
| Tradeable Assets | Forex, cryptos, commodities, indices, stocks |
| Trading Platforms | MT4, cTrader, WebTrader |
| Pricing | Prices vary depending on chosen funded trading account amount; no additional fees for Verification or Trader program |
| Educational Resources | Extensive trading journal for account analysis and excellent educational resources |
FTMO Trading Challenge
The FTMO Trading Challenge is an evaluation process that allows traders to prove their skills and qualify for a funded trading account.
The challenge consists of two steps: the FTMO Challenge and the Verification. During the Challenge, traders have 30 calendar days to meet certain profit targets and demonstrate their trading discipline. If they are successful, they can advance to the Verification step.
The Verification process has the same profit targets as the Challenge, but traders have double the amount of time to meet them, with 60 calendar days available.
If traders are able to successfully complete the Verification process, they are offered the opportunity to become funded traders, managing an account balance of up to $400,000.
The FTMO Challenge
Once traders successfully complete the Verification process, they are offered the opportunity to become funded traders, managing an account balance of up to $400,000.
In addition to providing funding, the firm also offers an extensive trading journal for account analysis and a range of educational resources for both beginner and experienced traders.
Setting Up: Step 1
The FTMO Challenge is the first step in the evaluation process.
During this stage, traders have 30 calendar days to prove their profitability by meeting certain trading objectives.
The minimum number of trading days is 10, but if traders are able to meet the profit target faster, they can advance directly to the Verification step.
The Verification: Step 2
The Verification is the second step in the evaluation process.
It has the same profit targets as the Challenge, but traders have double the amount of time to meet them, with 60 calendar days available.
If traders are able to successfully complete the Verification process, they are offered the opportunity to become funded traders.
The FTMO Trader: Step 3
During the Challenge and Verification, traders have the opportunity to prove that they deserve to be funded by a proprietary trading firm.
Once they have successfully completed the evaluation process, they become FTMO Traders and are given the opportunity to manage an account balance of up to $400,000.
Tradeable Assets
Traders participating in the Trading Challenge have the opportunity to trade a wide range of assets, including Forex, cryptos, commodities, indices, and stocks.
Trading Objectives
The specific trading objectives for the FTMO Challenge and Verification vary depending on the funded trading account amount that a trader chooses.
Traders should carefully review the trading objectives for their chosen account before beginning the evaluation process.
FTMO Faq
Does FTMO pay out?
Yes, FTMO pays out to its funded traders. According to their website, they have paid out a total of $23 million in 2021 with an average payout processing time of only 8 hours.
Funded traders at FTMO receive up to 90% of profits, with the remaining 10% retained by the company. The exact percentage of profits that a funded trader receives depends on their chosen funded trading account amount and the terms of their agreement with the company.
How much money do you need for FTMO?
The minimum amount of money required to start the Challenge varies depending on the chosen funded trading account amount.
According to the information provided in the article, the prices for the FTMO Challenge range from $100 to $50,000. The Challenge fee is refunded with the first profit split once a trader becomes a funded trader.
Does FTMO have a monthly fee?
There is no monthly fee for using FTMO. However, there is a one-time fee to participate in the Challenge, which is the first step in the evaluation process to become a funded trader.
The fee for the Challenge varies depending on the chosen funded trading account amount, and it is paid back with the first profit split once you become a funded trader. There is no additional fee for the Verification (step 2) or FTMO Trader (step 3) programs.
More FTMO FAQ
Conclusion
In conclusion, FTMO is a reputable and reliable choice for traders looking to gain access to funded trading accounts. With a transparent evaluation process, a wide range of tradeable assets, and excellent educational resources, it is well-suited for traders at all levels of experience.
The company has seen tremendous growth since its founding in 2020, with registered traders in over 180 countries and over 6 million trades opened every month. With a commitment to providing top-notch service and support, FTMO is a trusted choice for traders looking to advance their careers and achieve success in the world of trading.
Compare FTMO vs Myforexfunds
How to pass the FTMO trading challenge?
The FTMO trading challenge is a crucial step in the process of becoming a funded trader with the proprietary trading firm.
It is designed to test your trading discipline, skills, and profitability, and requires you to achieve specific goals in order to move on to the next stage of the evaluation process.
If you are looking to pass the trading challenge, there are a few key things you need to know and do in order to set yourself up for success.
- Understand the challenge requirements: Before you begin the challenge, it is important to thoroughly understand the specific requirements you need to meet in order to pass. This includes the profit target you need to achieve, the maximum daily drawdown and maximum loss limits, and the minimum and maximum number of trading days.
- Use proper risk management: Proper risk management is crucial in order to succeed in the FTMO trading challenge. This means setting stop losses and sticking to them, and not taking on too much risk on any given trade.
- Focus on consistency: The key to passing the FTMO trading challenge is to be consistent in your approach. This means not only achieving the required profit target, but also adhering to all of the other rules and guidelines set forth by FTMO.
- Use a proven trading strategy: In order to achieve consistent results, it is important to have a proven trading strategy that you can rely on. This should be a strategy that has been thoroughly tested and has a track record of success.
- Practice discipline: Trading discipline is crucial in order to succeed in the FTMO trading challenge. This means sticking to your strategy and not deviating from it, even when faced with challenging market conditions.
By following these tips and putting in the necessary hard work and dedication, you can increase your chances of passing the FTMO trading challenge and becoming a funded trader with the firm.
FTMO alternatives
- Topstep Trader: This proprietary trading firm offers funded trading accounts with a focus on futures trading.
- My Forex Funds: This firm offers funded forex accounts with a profit split of up to 95%.
- City Trader Imperium: This firm offers funded forex accounts with a profit split of up to 80% and the option to trade stocks, futures, and options.
- Surge Trader: This firm offers funded forex accounts with a profit split of up to 85% and the option to trade cryptocurrencies and commodities.
- Fidel Crest: This firm offers funded forex accounts with a profit split of up to 80% and a variety of educational resources for traders.
