FTMO is a prominent prop trading firm known for its unique 2-step Evaluation Process, consisting of the FTMO Challenge and Verification stages.
Established in January 2015 and headquartered in Prague, Czech Republic, FTMO offers traders the opportunity to manage a demo FTMO Account with up to $200,000 and earn up to 90% of their simulated profits.
This review delves into the key aspects of FTMO, including its offerings, processes, and user feedback, providing traders with the essential information needed to make an informed decision.
Create an account with FTMO today and start your trading challenge!
FTMO Overview
FTMO provides a structured pathway for traders to prove their skills and manage significant trading accounts through a two-step evaluation process.
The firm's offerings are designed to cultivate disciplined trading habits and provide educational tools, performance coaching, and career advancement opportunities with Quantlane for top performers.
Trading Platforms and Instruments
FTMO supports multiple trading platforms, including MetaTrader 4, MetaTrader 5, cTrader, and DXtrade.
Traders can access a wide range of instruments, such as Forex, Indices, Commodities, Stocks, and Crypto, allowing for diverse trading strategies and opportunities.
Payment Methods
FTMO accepts various payment methods to facilitate ease of transactions for traders. These include bank wire transfer, debit/credit cards, cryptocurrencies, and Skrill, providing flexibility and convenience for global traders.
Account Sizes and Profit Split
FTMO offers account sizes ranging from $10,000 to $200,000.
The profit split structure is highly competitive, with traders keeping 80% of their profits, which can increase to 90% through the Scaling Plan.
This attractive profit-sharing model incentivizes traders to perform well and grow their accounts.
Evaluation Process
FTMO Challenge
The FTMO Challenge is the first step in the evaluation process, where traders must demonstrate their trading skills by adhering to specific Trading Objectives.
These objectives include a 10% profit target and strict risk management rules, such as a maximum daily loss of 5% and a total loss limit of 10%.
Verification
Upon successful completion of the FTMO Challenge, traders proceed to the Verification stage. This stage has simplified trading objectives, with the profit target reduced by half while maintaining the same risk management rules.
The Verification phase ensures that traders can consistently perform under real market conditions.
FTMO Trader
After passing the Verification stage, traders are granted access to a demo FTMO Account with up to $200,000 in fictitious funds.
This account allows traders to continue honing their skills and earning a significant portion of their simulated profits.
Professional Trader
Top-performing traders have the opportunity to join Quantlane as professional traders. This partnership offers a fixed salary and further career growth, making FTMO a stepping stone to a professional trading career.
Pricing and Costs
FTMO charges a fee for each account size to start the challenges, which are refundable upon meeting the objectives:
- $155 for a $10k account
- $250 for a $25k account
- $345 for a $50k account
- $540 for a $100k account
- $1080 for a $200k account
These fees cover the costs of evaluation and the comprehensive support provided throughout the process.
Fees and Commissions
FTMO has transparent fee structures for various trading instruments:
- Forex: $3 USD/Lot
- Exotics: $3 USD/Lot
- Metals CFD: .0010%/Volume
- Cash CFD: $0
- Futures CFD: $0
- Crypto: $0
- Equities CFD: .0040%/Volume
These fees are competitive and align with industry standards, ensuring traders can optimize their profit margins.
Free Trial
FTMO offers a free trial that allows prospective clients to experience a shortened version of the FTMO Challenge.
Payouts
Payouts at FTMO are processed on a monthly basis or on-demand after 14 calendar days from the first trade. This flexibility ensures that traders can access their earnings promptly and efficiently.
Leverage
FTMO provides different leverage options for various trading instruments:
- Normal Leverage:
- Forex: 1:100
- Exotics: 1:100
- Metals CFD: 1:50
- Cash CFD: 1:50
- Futures CFD: 1:50
- Crypto CFD: 1:3.3
- Equities CFD: 1:3.3
- Swing Leverage:
- Forex: 1:30
- Exotics: 1:30
- Metals CFD: 1:15
- Cash CFD: 1:15
- Futures CFD: 1:15
- Crypto: 1:1
- Equities CFD: 1:1
These leverage options cater to different trading styles and risk appetites, providing flexibility for traders.
Customer Support
FTMO offers comprehensive customer support options, available 24/7 via email, live chat, and WhatsApp. Phone support is available from 9 am – 5 pm CE(S)T, Monday to Friday. Support is offered in 16 languages, ensuring accessibility for traders worldwide.
Trustpilot Feedback
FTMO has received a stellar rating of 4.8 out of 5 on Trustpilot, based on 11,916 reviews.
Positive Feedback
- Profitable Trading Support: Helps traders develop profitable trading plans, with many users achieving significant profits.
- Strict but Beneficial Rules: Enforces strict trading rules that help traders become disciplined and sharpen their trading skills.
- Reliable and Trustworthy: No manipulation in trading conditions, offering reliable and transparent services.
- Responsive Support Team: Effective support team that handles account issues and restores accounts as requested.
- Quick Payouts: Fast and efficient payout process, with users successfully receiving their profits.
Negative Feedback
- Slow Customer Service: Customer service can be slow, with email support taking several days and long queues in live chat.
- Limited Instruments: The platform offers a limited number of stocks, making it harder for stock-focused traders to achieve maximum daily loss limits.
- Inconsistent Communication: Initial support may lack clarity, requiring multiple interactions to resolve issues.
- Delayed Account Updates: Some users experience delays in account updates and receiving funded accounts after verification.
- Support Redirects: Live chat support often redirects users to email, which can be frustrating for urgent issues.
Frequently Asked Questions
- What payment methods are available? Bank wire transfer, debit/credit card, cryptocurrencies, Skrill.
- How do I withdraw my profits? Payouts are done via bank wire transfer, Skrill, or cryptocurrencies, processed within 1-2 business days.
Contact Information
- Email: support@ftmo.com
- Phone: +44 2033222983
- Address: Purkynova 2121/3, 110 00, Prague, Czech Republic
Legal Information
FTMO operates under the following legal entities:
- FTMO Evaluation Global s.r.o., Purkynova 2121/3, Nové Město, 110 00 Prague 1, Czech Republic, ID: 09213651, registered in the Commercial Register maintained by the Municipal Court in Prague, file no. C 332660
- FTMO Evaluation US s.r.o., Purkynova 2121/3, Nové Město, 110 00 Prague 1, Czech Republic, ID: 09213741, registered in the Commercial Register maintained by the Municipal Court in Prague, file no. C 332660
Create an account with FTMO today and start your trading challenge!
Begin your journey to becoming a professional trader with FTMO.
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