FTMO Trader Funding in 2022
FTMO is one the fastest-growing proprietary trading firms with funded trade accounts. Funded traders can earn up to 90% of profits. Forex, stocks, commodities, indices, and cryptos are all tradeable assets.
This FTMO review will guide you through the FTMO Challenge, including signup, member dashboard, and trading platforms. We also examine the pricing, trading objectives details, and evaluation.
FTMO began its business operations in 2020. It has experienced tremendous growth since then. Today, FTMO is home to over 180 registered traders. Each month, more than 6 million trades are opened. In addition, $23 million has been paid out in 2021. The average payout processing time is 8 hours.
Forbes has featured FTMO, and they have won the Deloitte Technology Fast50 award three years running. The FTMO Challenge is part of their evaluation and verification. Traders who pass the evaluation process are offered a place in the FTMO Proprietary Trading Firm, where they can manage an account balance up to $400,000.
The offer includes a comprehensive trading journal that allows for account analysis and excellent educational resources.
FTMO Challenge Review
This section describes the FTMO review, the trading objectives, and the tradeable assets.
There are two steps to the FTMO evaluation process. The first is the so-called FTMO Challenge. The challenge will require you to demonstrate your trading discipline, skills, and profitability by keeping track of the trading objectives.
Next, we will review the details of the FTMO Challenge and Verification. We also discuss specific trading objectives.
FTMO Challenge: Step 1
All accounts have a 30-day FTMO Challenge. This means that 30 days is the maximum time you have to achieve the goals. You will be able to move directly to the verification step if you achieve the profit target quicker and comply with all rules. The minimum trading day is ten days. If you do not archive your target within five trading days, you can place trades for five days. To comply with the rules, you can still make small-risk trades if the profit target is not archived within five trading days.
Only one payment is required to begin the challenge. Prices vary depending on how much you have invested in trading accounts. The Verification (step 2) or FTMO Trader (step 3) are free.
Another important aspect of the FTMO Challenge Fee is that FTMO pays the fee back with your first profit split after becoming a fund trader.
Step 2: Verification
The FTMO verification is the second step in your journey to becoming a funded trader at FTMO. However, the time you have to meet the profit target is doubled. This means you have 60 days to complete the Verification process.
Once you have completed the FTMO Challenge, there is no additional fee for the Verification process. Minimum trading days are ten days, which is the same as the requirements for the FTMO Challenge.
You must trade at least ten days per 60 days and keep the profit target goal. After passing the verification step, you will be offered to join FTMO as a funded trader.
Step 3: FTMO Trader
You have demonstrated that you are worthy of being funded by a prop trading company during the FTMO Challenge. This goal is archived with good risk management, exceptional trading skills, and discipline in Steps 1 and 2.
Step 3 is about archiving your goals to become a funded trader. Your FTMO account will be connected to the company's account. The default profit split ratio for all FTMO traders has been 80/20. This means that you can withdraw 80% of the profits to your bank account.
However, FTMO has a scaling plan, and you may be able to archive a payout ratio up to 90/10, which is a rare industry.
Free Repetition of FTMO Challange
A trader who completes the FTMO Verification or Challenge without reaching the Profit Target, but maintains a loss limit of not exceeding the Max Daily Loss or Max Loss, and closes all positions with any profit (even $0.01), will always be eligible for a free FTMO Challenge. This is an important benefit that should not be taken for granted in this industry.
FTMO Trading Objectives
Trading objectives for the FTMO challenge depend on the currency chosen, the risk level, and the account balance.
It would help if you first decided what level of risk you wish to take.
Your maximum daily loss if you choose the Normal risk level is 5% of your initial account balance. The maximum loss and overall profit target is 10% of your initial account balance.
If you choose the risk level Aggressive, all values will double. This means you can lose 10% per day, and your overall profit target is 20%. There is more downside potential with the higher risk level, and you must achieve a higher profit target.
There are five currencies available: USD, GBP and EUR. CZK, CAD, and AUD. For both risk levels, the account balances are $10,000 to $25,000, $50,000, $50,000 and $100,000, respectively. The normal risk level comes with a $200,000 balance.
To summarise, the trading objectives are the maximum daily loss, maximum overall losses, profit target, and challenge fee.
FTMO specializes in forex trading. A $10,000 account can be traded with $1,000,000. All major currencies, such as USD/JPY and EUR/USD, are available for trading. There are also less-popular currencies like USD/HKD and EUR/NOK. For a total of 44 currencies that can be traded via FTMO.
Trades can be made with eight metals, 14 cash indexes, four futures, and ten futures contracts. There are also 23 equities that traders can trade via contracts for difference.
Proprietary Trading Company FTMO
FTMO grants traders who pass the evaluation a funded account. FTMO Trader US s.r.o. signs the contract for global traders from the United States. FTMO Trading Global s.r.o. also signs the contract for traders outside the United States.
This is a simple solution because traders work directly with the same brand starting at the FTMO Challenge through the Verification process and ending up in the trading account.
To become a funded trader at FTMO, you will need to pay a fee. However, you can return the fee paid if you become a funded trader with FTMO.
You can try again if you don't complete the 3-step process.
Two factors affect the fee structure: first, the chosen level of risk, and second, the trading account balance.
Pay in the currency of your locality. For example, if you're in the United States, you will pay in USD. If you're from the EU, your payment is in Euros, etc.
Risk Level: Normal
- 10,000 accounts: 139.50 Fee
- 225.00 Fee for 25,000 accounts
- Accounts up to 50,000: 310.50 Fee
- 100,000 accounts: 486.00 Fee
- Account: 200,000, 972.00 Fee
Risk Level: Aggressive
- 10,000 accounts: 225.00 Fee
- Accounts up to 25,000: 310.50 Fee
- Accounts up to 50,000: 486.00 Fee
- 100,000 accounts: 972.00 Fee
The Aggressive risk level doesn't have 200,000 accounts, and the cost is similar to the next higher level of the normal risk level. For example, 225.00 is charged for the 25,000 accounts at the normal risk level. However, the aggressive risk level allows you to get the 10,000 account challenge at 225.00.
FTMO Platform Information
After you sign up for FTMO, either by starting your favorite trading challenge or signing up for the free trial, you will be able to log in to the FTMO Dashboard. You can also access your FTMO account, risk management tools, and the trading academy from this dashboard.
Access to the Trading Platform
Click on Client Area and Credentials in your FTMO Challenge section to open your trading account platform. A popup will open, allowing you to see the login credentials and the link to your trading platform.
In my case, I chose the MetaTrader 4 platform. I can install MT4 on the web or download it from the MetaTrader 4 platform. The login details are required for the first login. Next, select the FTMO Server. Does login fail? Change the FTMO Server in the drop-down menu.
You can now trade based on your preferred trading strategy's technical and fundamental analysis of forex markets. You will be able to complete the Step 1 FTMO Challenge, Step 2 Verification Process, and finally, become an FTMO Trader. This allows you to keep between 80% to 90% of your profits through trading the prop firm trading capital.
Each trade will be recorded in the FTMO Metrix Section. Go to your FTMO dashboard and select Metrix to access the tracking dashboard. You will see the current status, your challenge starts and finish dates, account size, provider, chosen platform, and all of your results.
You can also view the Trading Objectives status for your challenge, including the four rules.
- Minimum 10 Trading Days
- Maximum Daily Loss
- Maximum Total Loss
- Profit Target
After completing all objectives, you can move on to the next step. A trading journal is also available in the FTMO Metrix view. Click on the refresh button to view the most recent statistics as an active trader.
The FTMO Mentor app works with MetaTrader 4. It monitors your trading habits, assists you in trading with discipline, and alerts you when you trade in a manner that could put your evaluation process at risk.
You will find Expert Advisors and MetaTrader 4 trading indicators, such as the Autofibo and Breakout Zones, and SL & TP values. You will also find links to download MetaTrader 4 and MetaTrader 5.
Another helpful resource for traders is the FTMO Academy. You will find trading platform insights, beginner videos, and trading tips.
The navigation also includes links to the economic calendar, certificates, and a leaderboard. In addition, language settings, customer service, billing, and language settings are all available.
Trade Platforms Available
FTMO supports three of the most popular trading options:
- MetaTrader 4
- MetaTrader 5
They are all free and come with no markup on demo trading accounts or virtual funds.
Summary of FTMO Review
FTMO is a great proprietary trading platform for forex traders. The FTMO Challenge rules, as well as the Verification process, are clear and well-documented. The pricing is fair, and traders love the support trading tools.
FTMO is looking for trading talent and offers a fund account to successful forex traders. The payouts range from 80%-90% of the profit generated by the trader.
For traders with low capital who wish to trade large accounts but not risk their capital, the FTMO Challenge can be a great option. It takes talent, skill, and discipline to keep the goals organized. However, it can also be extremely beneficial in success because the FTMO Challenge participation fee is refunded with each profit split. This means that trading success leads to a fund account with zero risk capital.
FTMO's main focus is a forex, with 44 currency pairs available for trading. In addition, FTMO is a unique platform that allows you to trade crypto CFDs such as Bitcoin Dash and Etherum. This makes it a great choice.
Join FTMO now with a free trial. Or, choose your favorite trading challenges.
Future traders will prefer TOPSTE to FTMO since only NGAS, the Dollar Index, Euro Bund, and US 10yr T-Note are available for futures trading with FTMO.
Let's conclude the FTMO review with a look at the pros and cons.
- You can trade capital of prop firms without risking your savings
- Divide profit, so traders get between 80%- 90% of profits
- The fee can be refunded once a trader passes the assessment process and makes money with the fund account.
- There are many fiat currencies and cryptos that can be traded
- Transparency in pricing, rules, and account types
- Stocks and futures trading is not recommended.