FTMO, or Forex Traders Money Office, is a leading proprietary trading firm that provides traders across the globe with an opportunity to trade their capital. Offering a unique proprietary trading challenge, FTMO presents potential traders with an unmatched platform to showcase their trading skills and risk management capabilities. The firm operates on the fundamental belief that talented traders can be discovered and nurtured through systematic and rigorous testing. This review aims to provide an in-depth look into FTMO and the opportunities it offers.
Features
FTMO offers a range of features that make it a popular choice for traders seeking funded trading accounts. Some of the key features include:
- Funding Opportunities: FTMO provides aspiring traders with the opportunity to receive funding and trade with a funded account. This can be particularly beneficial for those who may not have sufficient capital to trade on their own.
- Evaluation Process: To become eligible for a funded account, traders must go through a comprehensive evaluation process. This process assesses various aspects of trading performance, including risk management, consistency, and profitability.
- Merit-based Approach: FTMO’s evaluation process follows a merit-based approach, focusing on objective criteria rather than subjective factors. Traders are evaluated purely based on their trading skills and performance, ensuring fairness and transparency.
- Multiple Account Options: FTMO offers different account sizes, allowing traders to choose the one that suits their needs and trading style. Account sizes range from smaller accounts for beginners to larger ones for experienced traders.
- Profit Sharing: Once a trader successfully passes the evaluation and receives a funded account, they can keep a percentage of the profits generated. The profit-sharing arrangement is designed to reward traders for their profitable trading and motivate ongoing success.
- Low-cost Trading Conditions: FTMO provides traders with competitive trading conditions, including low spreads and commissions. This ensures that traders can maximize their profitability by minimizing trading costs.
- Fast Withdrawals: Traders can enjoy fast and efficient withdrawal processes with FTMO. This allows them to conveniently access their trading profits without unnecessary delays.
- Support and Education: FTMO offers comprehensive support and educational resources to help traders improve their skills and succeed. This includes personal mentorship, access to educational materials, webinars, and courses.
Overall, these features make FTMO an attractive option for traders looking for funding opportunities and support in their trading journey. Whether you are a beginner or an experienced trader, FTMO aims to provide a structured and supportive environment for traders to thrive.
Company Background
FTMO was established in 2014, in Prague, Czech Republic, with the mission to find successful traders and enable them to trade on a proprietary basis. The founders, a group of experienced forex traders and financiers, wanted to create an environment that fostered growth and success in the trading arena. Over the years, FTMO has grown significantly and has expanded its portfolio by supporting traders from all corners of the world. Today, it boasts a diverse and talented pool of proprietary traders who have passed the rigorous FTMO Challenge and Verification process, demonstrating their ability to manage risk effectively and trade profitably. The company continues to uphold its founding principles, focusing on nurturing talent and providing traders with the necessary resources and support to succeed in the competitive field of forex trading.
Evaluation Process
The evaluation process at FTMO is twofold and includes the FTMO Challenge and the Verification stage. The FTMO Challenge is the first step, designed to test the potential trader’s trading abilities and risk management skills. Traders are given a simulated account with a predetermined balance and a set of objectives they must meet within a specified timeframe. The objectives primarily focus on risk management parameters, such as maintaining a maximum daily loss limit and not exceeding a maximum loss limit.
Upon successful completion of the Challenge, traders move on to the Verification stage. During Verification, traders continue to trade under conditions similar to the Challenge, but with a more relaxed set of objectives. This stage serves as an additional layer of confirmation to verify that the great performance from the Challenge was not due to pure luck, but a result of a solid trading strategy and disciplined risk management.
Upon successful completion of the Verification stage, traders are offered a funded account agreement and are ready to start their journey as FTMO Traders. The Evaluation Process is designed to provide potential traders with a realistic trading environment and objectively assess their capabilities, making it an integral part of FTMO’s operation.
Funded Accounts and Features
FTMO provides traders the option to trade with capital through their Funded Account program. Traders who successfully pass the evaluation process are offered a Funded Account, which they can start trading with immediately. The range of funded accounts offered varies in size, starting from $10,000 up to $100,000. Additionally, FTMO traders can manage multiple funded accounts simultaneously, effectively multiplying their trading capacity.
Funded Accounts come with a set of valuable features designed to aid the trader’s success. FTMO covers all losses on the Funded Account, limiting the trader’s financial risk. Traders are allowed to trade various instruments in the Forex, Commodities, Indices, Bonds, and Crypto markets, giving them a broad trading horizon. Furthermore, traders receive 70% of all profits they generate – a competitive rate in the industry.
One standout feature of FTMO’s Funded Account program is the option to scale up. Traders can double their trading capital every four months if they show consistent profitability and adherence to the risk management rules. This feature incentivizes traders to maintain an effective trading strategy and disciplined risk management.
Lastly, FTMO offers a Free Trial for those looking to familiarize themselves with the platform and its rules. During the trial period, aspiring traders can take part in a simulation of the FTMO Challenge, helping them gain valuable insights into the process before proceeding with the actual evaluation.
Summary
Summary-
Evaluation Process4/5 Good
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Funded Accounts and Features3/5 Neutral
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Support and Resources3/5 Neutral
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Free Trial Period4/5 Good
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Security/Safety4/5 Good
The Good
- Rigorous evaluation process
- Competitive funded account features
- Access to capital quickly and easily
- Comprehensive support and educational resources
- Free trial period for aspiring traders
The Bad
- The risk of losses may exceed the initial investment amount if risk management rules are not followed
