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FTMO Challenge Review [yyyy]

FTMO Challenge Review 2023

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FTMO offers funded accounts to those who pass their evaluation stage. The capital provided ranges from $10,000 to $200,000. 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 specific trading parameters to prove their trading abilities. But what exactly is the FTMO Challenge, and how can you make sure you pass it? Let's take a closer look.

What is the FTMO Challenge?

The FTMO Challenge is a 30-day period during which traders must trade within certain parameters to prove their trading abilities. These parameters include things like risk management, trade size, and drawdown. Once traders have completed the challenge successfully, they are then ready for the verification stage. 

The FTMO 10K Challenge Rules

The FTMO 10K Challenge is a capital challenge where traders are given €10 000 to trade within a period of 30 days. There are a few rules to be aware of, which include a minimum of 10 trading days, a maximum daily loss of €500, and a maximum total loss of €1 000. The goal is to make €1 000 in profit, and there is a refundable fee of €155. Let's take a closer look at the rules.

Minimum trading days: To complete the challenge, traders must trade for a minimum of 10 days within 30 days. This ensures that traders have sufficient time to demonstrate their ability to generate consistent profits.

Maximum daily loss: Traders are allowed to incur a maximum loss of €500 per day. This protects the capital while still allowing traders to take risks and potentially generate large profits.

Maximum total loss: The maximum total loss for the entire challenge is €1 000. This leaves room for drawdowns while still requiring traders to be profitable overall.

Profit target: The challenge's goal is to make €1 000 in profit. This profit can be made through any combination of winning and losing trades, but the net result must be positive. 

Refundable fee: To participate in the challenge, traders must pay a refundable fee of €155. This fee is refunded in full if the trader successfully completes the challenge. 

The FTMO 10K Challenge is an exciting opportunity for traders to prove their skills and earn some great rewards. Be sure to familiarise yourself with the rules before getting started so that you can set yourself up for success!

How to Make Sure You Pass the FTMO Challenge?

The best way to ensure you pass the FTMO Challenge is to trade as conservatively as possible. This means being very careful with your risk management and not overtrading. It's also important to remember that you don't have to make a considerable profit to pass the challenge—a consistent profit will do just fine. As long as you can stick to these guidelines and trade within the parameters set by FTMO, you should have no problem passing the challenge and getting funded. 

What will happen if I fail to pass the FTMO challenge?

The FTMO Challenge is designed to test a trader's ability to sustain profitability over an extended period. The challenge consists of two phases, with the first phase requiring a trader to achieve a profit of 5% or more. If a trader is unsuccessful in meeting a 5% profit target but can make less than 5%, they are welcome to retake the challenge free of charge. 

However, if a trader is able to meet the 5% profit target, they will move on to the second phase of the challenge. This phase requires a trader to maintain their profitability for a period of 30 days. Upon successfully completing the FTMO Challenge and verification, traders will be awarded a trading account with real capital. This account will allow them to trade with larger sums of money and potentially earn greater profits.

Conclusion

The FTMO Challenge is an excellent way for new traders to get started with a funded account. By following some simple guidelines and trading conservatively, anyone can pass the challenge and get started on their way to becoming a successful trader. So if you're thinking of getting started with FTMO, be sure to keep these tips in mind, and you'll be well on your way to success.

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