FTMO Proprietary Firm
FTMO is a trusted, renowned, and top proprietary firm with active traders in over 180 countries, and arguably the best in the world. FTMO currently offer traders up to $400,000 and a 90% profit-split.
In this post, you will find detailed information about FTMO, their packages, how to get funded and join their trader community, FTMO profit splits and withdrawals, other frequently asked questions and lots more.
FTMO – What Is FTMO? Who Are They?
FTMO is one of the most prominent prop trading firms in the industry. It was founded in 2014, incorporated in 2015, and has since attracted a sizable trading community that has no nationality restrictions and spans more than 180 countries worldwide. Many other prop businesses do not offer FTMO’s generous 90% profit share, incredible variety of trading tools, trading-assist leverage, and trader-friendly terms and conditions, and their free trial demo account. It’s not surprising that they’re among the best in the business.
FTMO is hence an international investment company which offers a diversified portfolio to investors and help traders find their path to financial independence by offering liquidity and remote capital access to individual retail traders around the world. Traders who apply and pass FTMO verification are offered a placement in the FTMO Proprietary Trading firm, where they can remotely trade up to 400,000 USD and eligible to keep up to 90% of the profits they generate.
How do I get funded by FTMO?
Getting funded by FTMO is quite straight and simple. All there is to do is pass their 2-phased evaluation process which is examined in details in the next section.
The FTMO Challenge
FTMO has a two-step evaluation process that traders must scale if they are to get funded. These are: 1. Challenge and 2. Verification.
The FTMO challenge is the first step of The Evaluation process. In the challenge phase, traders are required to uphold the following rules on whichever demo account size they are trading:
- Traders are expected to trade for a minimum of 10 days and a maximum of 30 days
- The maximum 5% daily and maximum 10% loss accruing to the account size must be maintained within the set period
- The set 10% profit target is to be met within the stipulated time.
2. FTMO Verification
The FTMO verification is the second & final stage of the new trader evaluation. The purpose of which is to test the trader’s trading consistency. In this phase, traders are expected to uphold these rules:
- Traders must trade for a minimum of 10 days and a maximum of 60 days
- Traders must maintain the maximum 5% daily and maximum 10% loss accruing to their account size.
- Traders must meet the set 5% profit target within the stipulated time.
FTMO CHALLENGE FEES
This is the amount of money you pay to get your desired funded account. To get:
- $10, 000 Funded balance – The cost is €155
- $25, 000 Funded balance – The cost is €250
- $50, 000 Funded balance – The cost is €345
- $100, 000 Funded balance – The cost is €540
- $200, 000 Funded balance – The cost is €1,080
FTMO Account Type
FTMO offers two types of trading accounts 1. The Normal Account and Swing Account.
The major difference between the two accounts offered by ftmo is that the swing account is designed for swing trader who wants to hold positions over the weekend and also trade news events.
READ: 10 Things to consider in choosing a prop firm
FTMO Profit Split & Withdrawal
This segment covers how much you get paid by ftmo and when you get paid.
The default payout ratio for all FTMO traders is set to 80:20. traders get 80% of the profit they made on their account (not the capital!) while FTMO takes 20% of the profit. To juice things up, FTMO offers a 90:10 profit split for traders who meet their scaling plan.
The profit split on the ftmo account is done on a monthly basis by default but with the option to place a payout on-demand after a period of 14 calendar days from the first placed trade on the account. The profit split day can be changed up to 3 times for each withdrawal, anytime between 14 days and 60 days from the start of trading.
If a trader doesn’t make a change to their profit split day before the end of a one-month cycle, the profit split will be anchored to the last day of the reference period. The payouts are processed within 1-2 business days upon confirming the invoice. Profits can be received by regular bank wire transfer, skrill or cryptocurrencies.
READ: Level up your finances with leveled up society
FTMO Free Trial/challenge
Free trial is a shortened version of the FTMO challenge, created for traders to get used to trading, it serves and helps new traders to practice their trading skills. FTMO only accommodates one free trial per trader at a time. the FTMO trial runs for 14 days. no payment is required, absolutely a demo account to test your skill before purchasing a real account.
FTMO Scaling Plan
FTMO Scaling Plan Highlights Below.
- Upgraded profit split to 90/10
- Conservative and safe profit eligibility requirement
- A very generous scale-up of $2m per trader
- Continuous increments if eligibility criteria are met
- Trading objectives remain static
- Eligibility automatically checked with each profit split
Is FTMO Legit?
FTMO is an excellent proprietary trading firm for forex traders. The ftmo challenge rules and verification process are well documented and transparent, with its trading tools popular among traders. Ftmo is listed as one of the top 50 fast-growing companies on forbes, and they offer a superfast 8-hour average payout time.
FTMO is proven to have paid over $40 million to their trader in the past 2 years. with many positive reviews from verified traders, we can clearly state that FTMO is a legitimate organization.
With Over 2,300 organic reviews on different platforms, FTMO is the most credible proprietary trading firm in the industry. Here are some of their reviews on Trustpilot:
Read: FTMO – An Unbiased Evaluation about FTMO Prop Firm
Here Are Frequently Asked Questions About Ftmo
- How to Start?
After Signing Up, a Free Trial Would Be Offered to The Trader, with The Possibility of Testing Ftmo’s Trading Applications After Which a Shortened Analysis of Your Performance Would Be Revealed.
- Is Ftmo a Serious Company?
Ftmo Have Been Operating Successfully Since 2015, with Thousands of Traders Connected to Their Trading Firm, Also the Best Way to Find out Whether a Company Is Legitimate Is to Sixmply Look up Their Reviews.
- What Is Ftmo Profit Targte?
Ftmo Does Not Set Any Profit Target for Traders. once You Pass the Ftmo Evaluation Stages and Get Funded, You Are Liable to How Much You Make. the Company Does Not Set Any Target for You. However, It Is Expected of Any Good Trader to Make a Minimum 5% Profit on Their Account.
Why Should I Join Ftmo?
Ftmo Is Undoubtedly the Best Prop Firm Around. Their Dealing Is Transparent, Professional, and Has Loads of Resources to Make All Their Traders Successful.
Trading Is Difficult, as A Trader, You Will Face Many Common Problems Such As;
- Trading an Account that Is Too Small
- Fear of Losing Your Own Money
- Lack of Discipline
- Growth Limitations
- Insufficient Support from Other People
With Ftmo Prop Trading Firm, You Wont Be Responsible for Any Losses if Any Occurs. in Case Things Goes Wrong, All Losses on The Ftmo Account Are Covered by The Trading Firm. Also, Traders at Ftmo Receive Wide Access to Innovative Trading Applications Which Can Enhance Their Trading Edge.
Ftmo Has Developed Several Apps for Traders Which Would Help Them with Discipline, Journaling or Analysing the Markets.
Phone: +442 033 222 983
Ftmo Runs a Weekly Market Recap, with Trading Tips for Traders and Also a Client Arena for Question and Answer.
Ftmo Introduction Video
MORE ON FTMO: