A Comprehensive List of FTMO Alternatives
Are you looking for an FTMO alternative? You're in luck because many other sites offer similar services. This blog post will list some of the most popular FTMO alternatives and explain what makes each unique. Keep reading to learn more!
Reasons You May Want an Alternative to FTMO?
FTMO offers many great features that attract traders, but not everyone will find it the perfect fit. We'll explore a few reasons you might want to look for an alternative to FTMO.
1. The FTMO Challenge Fee
The FTMO challenge fee may be a financial setback to some interested parties. While some traders may very well have the know-how and confidence to manage the larger accounts successfully but are understandably reluctant to fork out the initial fee.
2. News Announcements Trading Constraints
The FTMO constraints regarding trading during periods of news announcements are a turn-off to many traders as you cannot hold positions over the weekend. That said, the swing account has a certain amount of flexibility; however, it comes with lower leverage.
3. Lower Leverage for Swing Account
The swing account comes with lower leverage which may be a turn-off for some traders who are looking for more flexibility.
4. Lack of customer support
The lack of customer support is also something to consider when looking for an alternative to FTMO. If you need support, you may not be able to get it when you need it from FTMO.
5. Not everyone will be accepted as a funded trader
Not everyone who applies will be accepted into the program, which may deter some people from even applying in the first place.
6. Country restrictions
Country restrictions may deter some people from applying for or using FTMO as their primary broker.
These are a few reasons you might want an alternative to FTMO. However, while they offer many great features, they also have some drawbacks that may not make them the right fit for everyone. Therefore, it's essential to research and find the broker that best fits your needs and preferences before making any decisions.
If you're looking for an alternative to FTMO, many proprietary firms offer similar services. Let's have a look at some of them.
The 5%ers' Funding Traders & Growth Program was launched in 2016 to provide full-time traders with readily available capital. Gil Ben Hur and Snir Achiel founded the platform. The two were skillful day traders but lacked sufficient capital to create serious returns. Upon seeing the demand for a platform that allowed skilled traders to make profits without risking their own capital, The 5%ers were born.
The firm allows users to prove their trading skills using an evaluation program known as Level 1. Traders pay a one-off participation fee and receive an account funded with the firm's capital. If the trader successfully completes the profit targets outlined in Level 1, they will receive a fully funded account and will have the opportunity to continue increasing the capital.
The 5%ers have been immensely successful since their launch, with over thousands of traders having completed Level 1 and gone on to become fully funded account holders. In addition, the platform has helped to create numerous millionaire traders and looks set to continue its success into the future.
OspreyFX is a powerful online broker that offers traders leverage of up to 1:500 to trade forex, crypto, stocks, and more. Their cutting-edge trading platform provides traders with all the tools they need to succeed, and their customer service is outstanding. Recently, OspreyFX launched the OspreyFX Funded Account Challenge, a chance for traders to manage $100,000 with zero risk. This is a fantastic opportunity for traders to test their skills and earn some great prizes. So if you're looking for a top-notch broker to trade with, be sure to check out OspreyFX.
Topstep Forex is a proprietary trading firm founded in the USA in 2012. The company invites traders worldwide to participate in its "forex-funded trader program." Under the program, traders use Topstep FX's money to trade the forex markets and keep a percentage of their profits. The program is designed to help traders hone their skills and grow their capital without risking their own funds. So far, the company has been very successful, with many participants becoming profitable traders in their own right. So if you're looking for an opportunity to get started in forex trading, Topstep Forex is worth considering.
How to find the best FTMO alternative?
When looking for the best FTMO alternative, there are a few key things you'll want to keep in mind. First and foremost, you'll want to ensure that the company you're considering offers rules and difficulties that are up to your standards. Additionally, you'll want to take a close look at their payout scheme and swing leverage. Finally, be sure to pay attention to their rest and refund status, as well as the platform's ease of use and customer support. Once you've considered all these factors, you can compare the company's fees, account growth schemes, and risk levels.
In that sense, start by considering first the rules and conditions of the FTMO alternative. Then, compare this with other companies to see which one is the best fit for you. Next, look closely at their swing leverage and how it might impact your ability to make money. Finally, check out their rest and refund status to know what to expect if something goes wrong. These factors will help you narrow down your choices to find the best FTMO alternative for your needs.
After considering all these factors, it's time to check the company's fees. Compare the fees each company charges and see which is the most affordable. Additionally, look closely at their account growth schemes and see if they offer any bonuses or perks that appeal to you. Finally, be sure to check out their risk levels so that you can be sure that you're comfortable with their level of risk tolerance. By considering all of these factors, you can be sure that you're choosing the best FTMO alternative for your needs.