FTMO Review and Rating 2023Visit FTMO
FTMO is a proprietary trading firm that was established in 2014. The firm has seen a lot of growth in recent years and currently offers funded trading accounts with up to 90% profit sharing. FTMO traders have the opportunity to trade a variety of assets, including forex, cryptos, commodities, indices, and stocks. The firm's dedication to providing top-tier resources and support has resulted in a community of highly successful forex traders that continues to grow.
If you're looking for an opportunity for forex trading with a firm that puts your success first, FTMO can be the right choice for you. In this FTMO review, we'll take a closer look at some of the reasons why FTMO is one of the best firms for aspiring professional traders.
FTMO Review Video
A Community of Highly Successful Traders
Another reason why FTMO is such a popular destination for aspiring professional traders is because of its community of highly successful traders. Its supportive environment and commitment to each individual trader's success has resulted in a community of like-minded individuals working towards achieving their goals.
If you're looking for an opportunity to join a community of successful traders, then look no further than FTMO. To learn more about what FTMO has to offer, you can visit its website today.
How to Become an FTMO Trader?
To become a funded trader at FTMO, one must complete the following steps:
The FTMO Challenge
FTMO offers funded accounts to those who pass their evaluation stage. The capital provided ranges from $10,000 to $200,000. In order to get started, traders select the account size they want and pay a one-time fee. They then have to pass a 30-day FTMO Challenge within certain trading parameters to prove their trading abilities.
What is the FTMO Challenge?
The FTMO Challenge is a 30-day period during which future FTMO traders have to trade according to specific parameters. These parameters include a maximum loss limit and a profit target. If the trader meets or exceeds the profit target, they will be given the opportunity to trade with an FTMO account.
The FTMO Challenge is a trading competition that allows participants to trade with real money and compete for a chance to earn a spot on the FTMO Pro Trader Program. The only trading parameters are two max loss limits—one is the maximum amount you can lose in one day, and the other is the maximum amount you can lose in your account overall. Right now the maximum daily loss is 5% of your starting balance, and overall your account can’t dip to 10% below the starting balance. So with a $10,000 account, if you lose $500 in a day or more than $1,000 over the course of the FTMO Challenge, you’re out. These limits ensure that participants are trading responsibly and give everyone a fair chance at success.
FTMO challenge is designed to test a trader's ability to generate consistent profits while adhering to sound risk management principles and can become a profitable trader. In order to pass the challenge, traders must meet profit goals of 10% for normal accounts without violating the trading parameters set by FTMO.
If the trader demonstrates an inability to manage risk or produces results that are outside of the acceptable range, they will be unsuccessful in passing the challenge. As such, traders need to focus on generating consistent profits while adhering to sound risk management principles in order to pass the FTMO challenge.
The Trading Objectives For The FTMO Challenge
The FTMO Challenge is a great way to learn about trading and to test your skills. However, before you start the challenge, you need to decide which risk level you want to choose. The risk level will determine your maximum daily loss, maximum loss, and overall profit target.
Normal Risk Level:
If you chose the risk level Normal, your maximum daily loss is defined by 5% of the initial account balance. The Maximum Loss and overall Profit Target is 10% of the initial account balance.
Aggressive Risk Level:
Suppose you choose the risk level Aggressive, all values double. That means that you have a maximum daily loss limit of 10%, while the Maximum Loss and overall Profit Target are at 20% of the initial account balance. Therefore, with the aggressive risk level, you have more room for the downside and have to achieve a higher profit target.
The verification stage is almost the same as the challenge, but you now have 60 days to meet a lower profit target of 5% within the same trading parameters. This stage is important because it allows FTMO to assess your risk management skills and whether or not you are capable of profitable trading with real money. If you are successful in this stage, you will be upgraded to an FTMO trader and be given an account to trade with real money. Again, your trading parameters will remain the same, but you will now be able to keep 80% of your profits. This is an amazing opportunity for those who are serious about making a career in trading.
You are becoming a trader of the FTMO Proprietary Trading firm. Trade responsibly and consistently and receive up to 90% of your profits. If you consistently generate profits on your FTMO Account, they can scale your account according to its Scaling Plan. To start trading on behalf of FTMO, simply deposit the minimum amount of $2,000 into your live broker account connected with FTMO platform and maintain a minimum equity of $2,000 during each day of trading. We recommend using an ECN broker with low commissions and fast execution speeds such as IC Markets, FP Markets, or Darwinex, which FTMO has integrated with its software platform.
Benefits of FTMO
There are some benefits of using FTMO as a trader. Let's have a look.
FTMO Generous Profit Payouts
FTMO is a proprietary trading firm that offers some of the best profit payouts in the business. In addition, their refundable one-time fee is significantly lower than any other proprietary trading firm, making them an attractive option for new and experienced traders alike.
Types of Assets That Can Be Traded on FTMO
As we mentioned earlier, one of the benefits of using FTMO is that you can trade a wide range of assets. This includes stocks, futures, options, currencies, and more. So no matter your area of expertise or what type of asset you're looking to trade, chances are good that FTMO has you covered.
Benefits of Using Their Risk Management and Profit Maximization Apps
In addition to offering a wide range of tradable assets, another benefit of using FTMO is that they provide risk management and profit maximisation apps. These apps help you minimise your risk while maximising your profits. So whether you're new to trading or you're a seasoned pro, these apps are sure to come in handy.
The Scaling Plan That Offers Up to $2 Million in Trading Capital
Last but not least, we want to touch on their scaling plan that offers up to $2 million in trading capital to the most skilled traders. This is an excellent way to get started with FTMO if you have the skills and experience necessary to be successful.
If you think you have what it takes to be a successful trader on FTMO, click the below to get started today.
Disadvantages of FTMO
In order to receive funding, traders must first pass the FTMO Challenge. Although the process is industry standard, some traders may find it off-putting. Keep reading to learn more about the pros and cons of FTMO.
The FTMO Challenge
To receive a funded account, traders must first pass the FTMO Challenge. The Challenge consists of a 10% profit target in 30 days. If the trader meets or surpasses the profit target, they will be funded. However, they are not funded if the trader does not meet the target.
Keep Funds in Demo
FTMO keeps all traders on demo accounts. Even if you are funded after passing the challenge. This means that although your profits will be very real, your trades may or may not be executed in the actual market. To many, it may seem like a disadvantage.
Two Step Verification
The two-step evaluation process is the industry standard for traders who want to receive a funded account. In order to pass the FTMO Challenge, traders must first show that they can profit consistently over a period of time. Once they have passed the Challenge, they must then go through a verification stage, where they must provide documentation and trading statements to prove that they are who they say they are. While some traders bristle at this process, it is designed to protect investors and ensure that only the most qualified traders receive funding.
How much does FTMO cost?
Upon passing both stages of the FTMO evaluation, your initial fee is fully refunded. Otherwise, the cost depends on the size of the account you prefer and whether you want a normal or aggressive account. You pay once when you sign up for the Challenge, and that’s it. FTMO doesn't charge any monthly or maintenance fees.
As one of the leading prop trading firms, FTMO provides high-quality training and support to help ambitious traders reach their goals. If you're serious about becoming a professional trader, FTMO is an excellent option to consider.
Let's have a look at the cost of different types of accounts to take the challenge.
Does FTMO Pay?
Traders can request payout on-demand. The payout is processed just after 14 days, but Traders also have the ability to choose their own Profit Split Day, which can be even changed up to three times. This means that FTMO Traders can receive their profit share immediately or at a later date that is more convenient for them. This flexibility ensures that FTMO Traders always have control over their finances and makes it easy to plan for future trading activities.
Who Should Sign Up For FTMO?
If you're new to prop trading and want to get started with the most popular and trusted firm in the industry, you should sign up with FTMO. They offer a very affordable opportunity to try out your trading strategies, with the potential to earn up to 90% of your profits if you're successful.
Even if you have your own capital to trade, FTMO is still a great option. They set the industry standard for trader guidance apps, and regardless of whether or not you win the FTMO Challenge, you'll come out as a much more conscientious and confident trader.
Finally, if you want to trade equities, crypto, or anything other than forex, FTMO offers its traders the largest array of tradable assets. So why not sign up today and see how much you can earn?
Who Should NOT Sign Up with FTMO?
FTMO is a platform designed for serious traders who are looking to be funded. In order to be funded, traders must first complete the FTMO Challenge and pass verification. Once funded, traders are given a chance to trade with real capital and keep their profits.
However, FTMO is not for everyone, and there are certain types of traders that should not sign up for the platform:
- If you need to know that your trades are being executed in the real market, FTMO is not for you.
- If you have uncovered the trading opportunity of the year and just need some capital to maximise your trading and don't have many skills yet, FTMO isn’t a good choice.
- If you require immediate funding, FTMO is not the platform for you. This is because you must complete the FTMO Challenge and verification process before they give you access to capital.
- If you are not a serious trader, then FTMO is definitely not the platform for you. This is because in order to be funded on FTMO, traders must first complete the FTMO Challenge and pass verification.
Is FTMO Legit?
Many people are skeptical of FTMO because it seems too good to be true. However, FTMO is a legitimate company that has funded thousands of traders and paid out millions of dollars through their 80% profit split. Here's a closer look at the legitimacy of FTMO.
FTMO has an impeccable reputation. They are one of the top prop firms in the world and have funded thousands of traders. They also have an 80% profit split, which is very generous.
How Prop Trading Works?
Prop trading is a legitimate business. Some companies will give you their money to invest and cover your losses. This is because they believe in your ability to generate profits for them.
The reason why some people are skeptical of prop trading is that it seems too good to be true. However, prop trading is a legitimate business model, and FTMO is one of the top firms in the world. So if you're interested in prop trading, then you should definitely consider working with FTMO.
FTMO prides itself on offering an outstanding service that consistently goes above and beyond for its clients. This is borne out by the company's "Excellent" rating at TrustPilot, where it has an aggregate rating of 4.9/5 stars. In addition, many of the reviews compare FTMO favourably to its prop firm competitors, citing the clarity of the Challenge rules, great customer service, and the prompt and generous payouts.
This high level of satisfaction is also reflected on FTMO's Facebook page, where it has 399 reviews and an overall rating of 4.9/5 stars. It is clear that FTMO is committed to providing a first-class experience for all its clients, and this commitment is paying off in terms of both client satisfaction and retention.
Customer Support at FTMO
FTMO offers excellent customer support that is available 24/7. You can reach customer support via email at firstname.lastname@example.org, live chat, Whatsapp at +420 773 111 735, or by phone at +442033222983. Customer support is offered in 15 languages, so you're sure to get the help you need no matter what language you speak. FTMO's customer support team is known for being friendly and helpful, and they will do everything they can to help you with your account. If you're having any problems with your FTMO account, don't hesitate to reach out to customer support for help.
FTMO Review - Conclusion
FTMO is a company that provides trading services for individuals. They have been in business for over 8 years and have a good reputation. The company charges a one-time fee which is refundable if you pass the challenge. So if you think you are someone who wants to be among the profitable traders, FTMO can be a good choice. I would recommend their services to anyone who is serious about trading. Thanks for reading my FTMO review.
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