FTMO
FTMO is a leading proprietary trading firm founded in 2015 in Prague, Czech Republic. It offers a two-step evaluation process (Challenge and Verification) to identify skilled traders who can then manage demo accounts up to $200,000 and receive up to 90% of simulated profits.
Pros & Cons Analysis
An unbiased evaluation of FTMO's strengths and weaknesses to help you make an informed decision.
High Profit Split
FTMO offers a compelling profit split, providing traders with 80% of their profits, which can increase to 90% with the scaling plan.
Significant Max Funding
Traders can access up to $20,000,000 in funding, allowing substantial trading capital for serious traders looking to scale quickly.
Flexible Trading Platforms
Supports multiple trading platforms including MetaTrader 4, MetaTrader 5, cTrader, and DXtrade, catering to diverse trader preferences.
Quick Payout Processing
Payouts are processed within 1-2 business days, often under 8 hours, ensuring fast access to profits.
Diverse Payout Methods
Offers various payout options such as bank transfer, cryptocurrency, Skrill, and PayPal, providing flexibility in receiving funds.
High Evaluation Fees
The evaluation fees range from $8,900 to $108,000, which can be a significant upfront cost for many traders.
No News Trading
Prohibits trading around high-impact news events, limiting strategies for traders who capitalize on news volatility.
Weekend Holdings Prohibited
Traders cannot hold positions over the weekend, which may restrict certain long-term trading strategies.
Unclear Track Record
FTMO is relatively undefined in its founding and lacks a public track record, which may concern some traders seeking stability.
Trading Restrictions
Certain trading strategies, such as latency arbitrage and tick scalping, are prohibited, which may limit some trading styles.
Editorial Analysis
FTMO presents a range of benefits that can be particularly appealing to traders seeking robust funding and flexible trading options.
FTMO's scaling opportunities allow traders to grow their accounts alongside their success, offering up to $20,000,000 in funding.
The firm offers an impressive profit-sharing model, with an 80% standard split that can increase to 90% through their scaling plan.
With the ability to trade on multiple platforms and a variety of payout options, FTMO offers considerable flexibility to accommodate different trader needs.
FTMO supports popular trading platforms like MetaTrader and cTrader, ensuring traders have access to reliable and advanced trading technology.
Important Considerations
While FTMO has numerous strengths, there are several considerations traders should be aware of before committing.
The lack of a clear founding date and public track record may raise questions about FTMO's longevity and reliability.
FTMO imposes restrictions on news trading and weekend holdings, which could limit certain trading strategies that rely on market volatility.
The high evaluation fees can be a significant barrier to entry, especially for new traders seeking to minimize upfront costs.
FTMO's rules on prohibited strategies and trading restrictions may require traders to adjust their typical trading approaches.
FTMO provides strong benefits in terms of funding and flexibility, but traders should carefully consider the associated restrictions and costs.
FTMO is best suited for experienced traders who can leverage large funding and who do not rely on restricted strategies.
For traders seeking substantial funding and profit potential, FTMO offers significant opportunities, provided they navigate the associated challenges.