FTMO Review: 2023

For forex traders, FTMO is a fantastic proprietary trading business. The FTMO Challenge guidelines and Verification procedure are clear and well-documented. The cost is affordable, and traders are fond of the provided trading tools.

FTMO seeks to identify exceptional traders. Therefore they provide a funded account to successful forex traders in exchange for 80-90 per cent of their earnings.

Participating in the FTMO Challenge is particularly advantageous for undercapitalized traders who want to trade big accounts without jeopardizing their funds. While achieving the objectives demands ability, abilities and self-discipline, the FTMO Challenge is very advantageous in the event of success since the participation costs are repaid with the first profit share. Thus, successful trading results in a funded account with no risk capital.

With 44 tradeable currency pairings, FTMO’s primary emphasis and strength is forex. Additionally, the ability to trade crypto CFDs such as Bitcoin Dash, Ethereum and Litecoin distinguishes FTMO as an excellent option.

Here you may join FTMO for free or choose your preferred trading challenge.

Futures traders choose Topstep over FTMO since only natural gas, the dollar index, the euro bund, and the 10-year Treasury note may be traded as futures contracts on FTMO.

Let’s conclude our evaluation of FTMO by examining its benefits and downsides.

Pros

• Capital transactions without the danger of losing your funds
• Traders get between 80 and 90 per cent of their earnings.
• Once a trader passes the assessment procedure and makes money with the funded account, the charge is refunded.
• A large variety of fiat and digital currencies are s accessible for trade.
• Transparency in pricing, policies, and account kinds.

Cons

• Not appropriate for futures and stock trading

In this article, Traders Union defines “What is a Prop.” See it!

Professional traders flourish at FTMO

The FTMO proposal’s overall structure has been outlined before. The business has both a normal and a swing account. The distinction is that the primary account includes fundamental trading limits. On the regular account, there are two trading strategies: normal and aggressive (high-risk) trading. The aggressive kind allows for a maximum loss of 20%, but the profit objective is also boosted to 20%. The cost of the budget package with a $10,000 deposit for a moderate risk is €155, while the deposit fee for an aggressive strategy is €250.

After completing the test, the first amount of the managed deposit is $400,000, with a profit requirement of 80% of the trader’s profit. The corporation and investors each earn twenty per cent of the profit. The scaling programme then begins. Every four months, the maximum of money under control might be increased. If a trader has raised their deposit by at least 10% over this period (20% for aggressive trading accounts), their deposit is boosted by $100,000. The highest permissible limit for an aggressive trading account is $2,000,000, while the limit for a moderate-risk account is also $2,000,000. In addition, scaling boosts the trader’s incentive to up to 90 per cent of the profit.

Valuable Services Offered by FTMO

This firm provides many valuable services, such as

·        Economic calendar

It may be beneficial for trading, but it is crucial to consider the trading limits at the time of a significant news release.

·        Statistical application

Displays statistically significant probability of market activity.

·        Application for Mentorship

It improves traders’ performance by increasing their discipline.

·        Trade magazine

Saves trading outcomes and enables transaction analysis.

·        Accounting Metrics

The innovative and one-of-a-kind online tool allows you to monitor your progress towards becoming an FTMO trader.

·        Account evaluation

A tool for objective trading analysis that gives an “outside perspective.”

·        Performance Trainer

Help with psychological issues.

Our Verdict

FTMO is an excellent forex broker. Well-documented FTMO Challenge rules and verification procedure. Price and tools, please, traders.

FTMO funds successful forex traders’ accounts with 80-90% of their earnings.

Undercapitalized traders may trade FTMO Challenge accounts without risking their own money. The FTMO Challenge takes ability, talent, and self-discipline, but participation costs are repaid with the first profit share if successful. Successful trading requires a risk-free account.

FTMO handles props. To trade, potential traders must pass a two-stage test. Each phase determines maximum daily, cumulative, and objective profit. The prop company’s conditions are fair yet confusing. 10% of overall loss, regardless of product. Others allow 15-20% drawdowns.

Despite strict criteria, FTMO’s test price is €155. Exams cost €400-500 at most companies in this area. Benefits include MT4/MT5 platforms. FTMO shares platforms with other companies. This allows bespoke MetaTrader indicators and advisors.