FTMO Prop Firm Review: Pros and Cons

FTMO Prop Firm Review – FTMO is one of the fastest growing proprietary trading firms with funded trading accounts. Most of all, in the fast-paced field of futures trading, finding a prop firm that can match one’s style and goals often unlocks your full potential. Among many on offer, FTMO is apparently favored by a broad range of traders who strive to move their trading careers up a gear. The company developed great first-class evaluation programs that allow traders to feel core policy approaches with regard to them. It has earned the reputation for being one of the top-rated prop firms in the financial world.

But what really sets FTMO apart? In this review, we go over the main features that make them special from other players, discussing props that place it as a favorite among many traders and some cons you ought to know. From professional traders looking for a new challenge to complete beginners ready to start, this analysis of the pros and cons of FTMO will help you make an informed decision regarding your choice in pursuing this path. So, let’s dive into precisely what it is that FTMO has to offer and if it really is what suits your goals in trading.

Overview of FTMO

FTMO was founded in 2015 as a university project. A few students wanted to get a living by trading. In order to provide tools for traders, education, and generally an environment in which dreams come true, the project aimed at finding successful traders. It has been more than 8 years now, but FTMO’s mission is still the same: to offer quality services for their clients, push them further, and enable them to trade for a living. Their evaluation process consists of the FTMO Challenge and the Verification. Traders who succeed in the evaluation process are offered a position in the FTMO Proprietary Trading firm where they can manage an account balance of up to $400,000.

Pros of FTMO

• There is no time limit to trade with the prop accounts. One can buy one and own it forever.
• Yes, FTMO does offer guaranteed payouts. By following the rules, one will surely have his or her profit share.
• These two-step challenges are pretty easy to pass. The good traders who have fantastic risk management skills would enjoy great chances of profitability and success.
• You will be able to trade a lot of instruments and symbols among them are Forex, CFDs, Cryptocurrency, and Indices.
• You have quite several types of currency deposits for your account: USD, GBP, EUR, CZK, CAD, AUD, CHF.
• FTMO provides the economic calendar.
• FTMO charges once, which is entirely refundable once you pass their evaluation process.
• They are very reliable since they have been paying millions to their traders. According to its website, FTMO paid more than $180 million over the years.
• Not many other firms will offer such tradable assets. While many of the traders at FTMO largely focus their trading efforts on forex, you could also trade in commodities, indices, bonds, stocks, metals, and crypto. 
• In developing the trading strategy to direct your trading, FTMO has made huge investments in the best trade-tracking technology. There are a number of apps created to help you manage risks and maximize profits for all the traders within FTMO.
• FTMO offers an even bigger number of trading platforms: cTrader, MT4, MT5, or DXtrade.
• Scaling Plan at FTMO allows access to as much as $2 mln of trading capital for their best traders.
• So many traders have used FTMO over the years that there’s an incredible amount of trader-generated resources out there, including loads of great advice about how to pass the FTMO Challenge.

Cons of FTMO

• FTMO charges once, which is entirely refundable once you pass their evaluation process.
• They are very reliable since they have been paying millions to their traders. According to its website, FTMO paid more than $180 million over the years.
• FTMO offers one of the best profit payouts in the industry, giving new traders 80%, with the potential to scale up to 90% when they meet trading objectives.
• Not many other firms will offer such tradable assets. While many of the traders at FTMO largely focus their trading efforts on forex, you could also trade in commodities, indices, bonds, stocks, metals, and crypto. 
• In developing the trading strategy to direct your trading, FTMO has made huge investments in the best trade-tracking technology. There are a number of apps created to help you manage risks and maximize profits for all the traders within FTMO.
• FTMO offers an even bigger number of trading platforms: cTrader, MT4, MT5, or DXtrade.
• Scaling Plan at FTMO allows access to as much as $2 mln of trading capital for their best traders.
• So many traders have used FTMO over the years that there’s an incredible amount of trader-generated resources out there, including loads of great advice about how to pass the FTMO Challenge.
• FTMO keeps all traders on demo accounts, even those that have passed the FTMO Challenge and become fully funded. Although your profits will be very real, your trades may or may not be executed in the actual market.
• Even though it’s the industry standard, some traders bristle at the two-step evaluation process. In order to receive a funded account, traders must first pass the FTMO Challenge, followed by a verification stage. 
• The 10% profit target for the FTMO Challenge can seem a bit steep. However, if you pass the Challenge, the target drops to just 5% for the verification stage.

Frequently Asked Questions (FAQs)

What is the FTMO Challenge?

The FTMO Challenge is the first step in FTMO’s evaluation process, where traders must meet specific profit targets and adhere to risk management rules within a set timeframe to qualify for the Verification phase.

How much does the FTMO Challenge cost?

The cost of the FTMO Challenge varies based on the account size. Fees typically range from $155 to $1,090 depending on the account size you choose (e.g., $10,000 to $200,000 trading accounts).

What is the Verification Phase?

Verification has very similar rules to FTMO Challenge. The only difference is a lower requirement for the appreciation of notional capital and therefore, less pressure on the trader. The purpose of the Verification is essentially to verify that the results achieved in the FTMO Challenge were not a mere coincidence and that the client is indeed able to trade successfully while meeting the set rules. In case the client successfully meets the rules set for the Verification, he/she proceeds to the last part and gains access to the so-called FTMO Account.

What support does FTMO offer? 

FTMO provides access to educational materials, trading webinars, and dedicated support teams to assist traders throughout the evaluation process and while managing their funded accounts.