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In the dynamic landscape of proprietary trading, FTMO stands out as a notable player, they were one of the first prop firms to hit the markets, FTMO offers traders the opportunity to manage up to $200,000 capital without the need to risk their own funds. Central to this model is a challenge and verification process, where traders are tasked with demonstrating their trading acumen, discipline, and risk management skills to earn the privilege of trading FTMO’s capital.
Scaling Plan
Refundable fee after passing challenge
Great customer service
4 Minimum trading days
CEO is public
Scaling options available for consistent traders
no larger account sizes available
no scaling option available
Welcome to our detailed FTMO review. In this deep-dive analysis, we cover all the things that matter to you as a trader. From evaluating funded challenge difficulty to exploring genuine trader testimonials and digging into the prop firms payouts, we cover all your questions.
to give you a clear picture of what awaits you in this review.
Refer to the table of contents below:
FTMO is a proprietary trading firm that has carved a new niche for itself in the world of trading, known as Proprietary Trading Based in Prague, Czech Republic, the company has been operational for several years, rapidly gaining recognition and respect within the trading community.
Since its inception, FTMO has focused on providing traders with the opportunity to manage substantial capital without the inherent risks of using their own funds. Their unique challenge and verification process has become a hallmark of their brand, setting them apart from many other prop firms in the industry.
Customer feedback on FTMO is varied, as is the case with most businesses. Many traders appreciate the firm’s transparent evaluation process, the potential to access significant capital, and the suite of educational tools and resources they offer. These traders often highlight the firm’s commitment to fostering a community of successful, disciplined traders.
On the other hand, some traders have expressed challenges in navigating the evaluation process or have had concerns about specific terms and conditions. It’s worth noting that the world of proprietary trading can be demanding, and not every trader’s experience will align with the majority.
Otakar Suffner stands at the helm of FTMO as its CEO. Under his visionary leadership, the firm has ascended to become one of the most recognized names in the proprietary trading sector. While specific details about Suffner’s background prior to FTMO are not extensively documented in public records as of 2022, his impact on the company’s trajectory is undeniable, indicating a profound understanding of the industry and a strategic mindset.
When evaluating prop firms that align with your forex trading approach, it’s crucial to assess the feasibility of their trading requirements. While a firm might lure traders with attractive profit splits on generously funded accounts, it’s the underlying expectations that matter. If a company demands exceptionally high monthly gains but permits only minimal drawdowns, the likelihood of a trader’s success dwindles significantly.
FTMO’s standard evaluation program offers a balanced approach. With profit targets set at 10% for the first phase and 5% for the second, coupled with a maximum daily loss of 5% and an overall maximum loss of 10%, it strikes a middle ground in terms of expectations.
On the other hand, FTMO’s aggressive evaluation program, despite its lofty profit goals of 20% in the initial phase and 10% in the subsequent one, remains feasible. This is because it compensates with more lenient loss parameters, allowing for a 10% maximum daily loss and an overall cap of 20%.
Taking these factors into account, FTMO emerges as a commendable option for traders seeking funding, given its balanced and realistic evaluation criteria.
FTMO showcases successful trader stories, and one such example is Chris from Huntington Beach, California. Managing three FTMO accounts, Chris’s journey includes over 15 payouts totaling more than $126,000. This testimony, featured in an interview, highlights FTMO’s potential for traders to earn significant profits. While Chris’s story stands out, many other traders online also advocate for FTMO, sharing their own funded experiences, adding credibility to the firm’s reputation for facilitating trader payouts.
FTMO have an excellent score of 4.9 stars, with over 6k reviews its clear to see that they are one of the big players in this industry, many of the reviews praise the excellent support team with a few reviews stating that they are funded, we have no reason to believe that these reviews are fake.
FTMO offers a variety of funding models to cater to different trading styles:
Normal Evaluation Program Accounts: Designed to identify disciplined traders through a two-phase evaluation. Traders can choose from multiple currencies for account funding and must meet profit targets of 10% in phase one and 5% in phase two without exceeding the maximum loss limits. Successful completion leads to a funded account with no further profit targets but ongoing loss limits.
Aggressive Evaluation Program Accounts: Similar to the normal accounts but with higher profit targets and loss limits, suitable for traders who prefer a more aggressive approach.
FTMO Swing Account: Suitable for longer-term traders, allowing overnight and weekend holds with 1:30 leverage, and flexible conversion options from other account types
FTMO’s Challenge Rules are designed to assess a trader’s skill and risk management:
Minimum Trading Days: At least 4 trading days are required within the challenge period, with at least one trade per day.
Maximum Daily Loss: Set at 5% of the initial account balance, this includes both the results of closed positions and open positions at any time of the day.
Maximum Loss: Also known as “account stop-loss,” the drawdown must not decline more than 10%.
Profit Target: 10% for the Challenge and 5% for Verification stage.
Trading News: Trading during news releases is permitted without restrictions during the evaluation phase.
Trading Overnight: Open positions can be maintained overnight and over the weekend during the evaluation phase
Instruments Allowed: Traders have the freedom to trade all available assets on the trading platform, which includes Forex, Stocks, Indices, Commodities, and Crypto.
Leverage: Standard leverage is set at 1:100 for forex trading, with no increases allowed. For the Swing account, leverage is fixed at 1:30.
$200,000
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