FTMO Review

Traders at FTMO are encouraged to be successful in their careers. The main priority that they expect from their clients is that they are disciplined individuals who properly manage risk and focus on long-term consistency. They allow them to earn high profits by managing account sizes up to $2,000,000 and taking home profit splits of up to 90%. They can achieve this by trading forex pairs, commodities, indices, stocks, bonds, and cryptocurrencies.

Who are FTMO?

FTMO is a proprietary firm incorporated in September 2015. They have offices located in Prague in the Czech Republic while offering traders capital up to $2,000,000 in balance with up to 90% profit splits. They are partnered with a tier-1 liquidity provider with the best simulated real market trading conditions as their broker.

Their headquarters are located at Opletalova 1417/25 110 00 Prague, Czech Republic.

Who is the CEO of FTMO?

Otakar Suffner is the CEO of FTMO, who was born and raised in Prague. His belief is that you don’t need a university education in order to be a good trader or businessman, although it certainly helps. He has a master’s degree om Economics which he obtained from a major Prague University. At that time, he also studied in South Korea at Seoul Nation University.

Otakar has a major passion for sports, he used to play tennis when he was growing up. However, he wasn’t good enough to pursue a career out of it. Nowadays, on the other hand, he does sports 3-4 times a week. Mostly fitness, calisthenics, and kickboxing.

His journey as a trader began almost a decade ago when he started on Futures and later transitioned to Forex and CFDs, where he had more freedom with his position sizing. This was due to having a smaller account since his options were extremely limited at that time. As a trader, Otakar is a very statistics-based person who believes in numbers. He likes to focus on probabilities, which enable him to create unique trading ideas.

Funding program options

FTMO offers its traders the following evaluation program accounts to choose from.

Evaluation Program Accounts

FTMO evaluation program accounts aim to identify disciplined and talented traders who are rewarded for their consistency in the two-phase evaluation period. The evaluation program account allows you to trade with 1:100 leverage while also being able to choose your account funding between USD, GBP, EUR, CZK, CAD, AUD, and CHF.

Evaluation phase one requires a trader to reach a profit target of 10% while not surpassing their 5% maximum daily loss or 10% maximum loss rules. When it comes to time limitations, note that you have no maximum trading day requirements during phase one. However, you are required to trade a minimum of four trading days in order to proceed to phase two.

Evaluation phase two requires a trader to reach a profit target of 5% while not surpassing their 5% maximum daily loss or 10% maximum loss rules. When it comes to time limitations, note that you have no maximum trading day requirements during phase two. However, you are required to trade a minimum of four trading days in order to proceed to a funded account.

By completing both evaluation phases, you are awarded a funded account where you have no profit targets. You are only required to respect the 5% maximum daily loss and 10% maximum loss rules. Your first payout is 30 calendar days from the day you place your first position on your funded account by default. However, traders have the option to place a payout on demand after only 14 calendar days from the day you place your first position on your funded account. Your profit split will be 80% up to 90% based on the profit you make on your funded account.

Evaluation program account scaling plan

Evaluation program accounts also have a scaling plan. You are required to reach a profit target of 10% or more within a four-month period where two out of the four months were profitable, one of which has to be the fourth. You will receive an account increase of 25% of the original account balance.

Example:

After 4 months: If you have a $200,000 account, your account balance will increase to $250,000.

After next 4 months: Balance of $250,000 increases to $300,000.

After next 4 months: Balance of $300,000 increases to $350,000.

And so on…

Trading instruments for the evaluation program accounts are forex pairs, commodities, indices, stocks, bonds, and cryptocurrencies.

Evaluation program account rules

• Profit target is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Phase 1 profit target is 10% while phase 2 has a profit target of 5%. Funded accounts have no profit targets.
• Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
• Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 10%.
• Minimum trading days is the minimum period which you are required to trade for before you can complete an evaluation phase, or request a withdrawal. Both phases have a 4 minimum trading day requirement. Funded accounts have no minimum trading days before being eligible for payouts.
• No weekend holding means that traders are not allowed to hold open positions during the weekends.
• No news trading means that traders are not allowed to trade during high-impact news releases. You are restricted from opening and closing any trade 2 minutes before and after the news on your funded evaluation program accounts.
• Third-party copy trading risk means that if you intend to use copy trading services, you should keep in mind that by using a third-party copy trading service, there might be other traders that are already using it and therefore exactly the same trading strategy. By using a third-party copy trading service, you potentially run the risk of being denied a funded account/withdrawal if you exceed the maximum capital allocation rule.
• Third-party EA risk means that if you intend to use an EA, you should keep in mind that by using a third-party EA, there might be other traders that are already using it and therefore using exactly the same trading strategy. By using a third-party EA, you potentially run the risk of being denied a funded account/withdrawal if you exceed the maximum capital allocation rule.

What makes FTMO different from other prop firms?

FTMO is different from most industry-leading prop firms due to offering a single industry-average two-phase evaluation program. In addition, FTMO is also one of the proprietary trading firms that have been in the industry since 2015 while still being one of the most reliable firms out there to choose from.

Compared to other prop firms, FTMO’s evaluation program accounts are a two-phase evaluation program that requires traders to complete two phases before being eligible for payouts. The profit target is 10% in phase one and 5% in phase two, with a 5% maximum daily and 10% maximum loss rules. You are also required to trade for a minimum of 4 days in each phase before becoming funded. Evaluation program accounts also have a scaling plan. Compared to other industry-leading prop firms, they have average profit targets and above-average minimum trading day requirements.

Example of comparison between FTMO & Funding Pips

Example of comparison between FTMO & E8 Funding

Example of comparison between FTMO & Finotive Funding

In conclusion, FTMO differs from most industry-leading prop firms by offering an industry-average two-phase evaluation program. In addition, they have also been in the industry since 2015 and are offering traders relatively relaxed trading rules, which makes them an excellent choice no matter what type of trader you are.

Is getting FTMO capital realistic?

It’s essential to see how realistic the trading requirements are when looking at prop firms that best suit your forex trading style. For example, a company offering a high % profit split on a highly funded account sounds great, but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.

Receiving capital from the evaluation program accounts is realistic mostly since they have average profit targets (10% in phase one and 5% in phase two) with average maximum loss rules (5% maximum daily and 10% maximum loss).

After considering all of that, FTMO is an excellent choice to get funded since all evaluation program accounts that you can choose from all have realistic trading objectives to follow and conditions to receive payouts.

Payment proof

FTMO is a proprietary firm incorporated in September 2015. You can request bi-weekly payouts once you get funded. You also have no profit targets to hit for withdrawals.

Examples of payment proof can be seen below. The first image shows a certificate of a trader successfully completing the evaluation challenge, while the second image is a withdrawal certificate from one of their successful traders.

You can see additional examples of payment proof on their Youtube channel under FTMO Interviews. For example, check the two videos below:

Which broker does FTMO use?

FTMO doesn’t trade with common broker brands. They are partnered with a tier-1 liquidity provider with the best simulated real market trading conditions as their broker.

As for trading platforms, you can choose from the following:

• MetaTrader 4

• MetaTrader 5

• cTrader

• DXtrade

Trading instruments

FTMO allows you to trade forex pairs, commodities, indices, stocks, bonds, and cryptocurrencies. On all evaluation program account sizes, traders are allowed to trade with a 1:100 leverage

Trading fees

Trading commission:

Spread:

In order to check the live spreads login to the trading account below:

Education & Support for traders

FTMO provides educational content on its website. You can check their blog to find a lot of educational content. Click here to check it out.

They also have their thread on ForexFactory, which you can access by clicking here. The thread is over 400 pages long, so you can get a lot of different standpoints and comments from traders that have experienced FTMO already.

Another thread is found on ForexPeaceArmy, where you can find almost 500 reviews about FTMO. You can check it out by clicking here.

They are also one of the few prop firms that have an option of a free trial before starting with the Evaluation Process so you can prepare yourself and reduce the chances of errors when you buy the actual challenge.

Traders’ Comments about FTMO

FTMO has excellent feedback from their reviews.

On Trustpilot, they have a large variety of their community commenting and giving positive feedback with a great score of 4.9/5 out of 6,637 reviews. They also have a fast and reliable support team that will provide you with all the necessary information you require from them or if you are unsure of anything.

A vast majority of FTMO’s community praises the straightforwardness of their firm. From the evaluation to getting funded, straight to payouts, everything runs smoothly with their support team in the background to offer assistance if anyone requires additional information.

Another frequently mentioned comment that pops up is that FTMO is for everyone. Beginners and consistent professional traders are all welcome since FTMO has the education and performance coach to back it up and suit the needs of every individual.

Social media statistics

FTMO can also be found on social media.

They have a:

• Facebook page with 50,588 followers,
• Twitter account with 24,7k followers,
• Instagram account with 159k followers, and
• Youtube channel with 78,8k subscribers and 204 videos uploaded.

Support

FTMO has a FAQ page to find the information you require.

The support team is available on their social media, or you can directly contact them on their email [email protected].

Their customer support team is available 24/7 for emails, live chat, and WhatsApp. They communicate in 15 languages – English, German, Spanish, Portuguese, French, Italian, Czech, Hindi, Filipino, Vietnamese, Slovenian, Serbian, Ukrainian, Turkish, and Russian.

Another option you can reach them is by phone calls from Monday – Friday: 8 AM – 5 PM CE(S)T on the following number: +44 2033222983.

Conclusion

In conclusion, FTMO is a legitimate proprietary trading firm that offers traders a chance to choose between different two-phase evaluation program account sizes.

Evaluation programs are an industry-standard two-phase evaluation challenge that requires the completion of two phases before becoming funded and being eligible to earn profit splits. FTMO requires traders to reach profit targets of 10% in phase one and 5% in phase two before becoming funded. These are realistic trading objectives, considering you have a 5% maximum daily and 10% maximum loss rules to follow. With evaluation programs, you can earn 80% up to 90% profit splits while also being able to scale your accounts. You should note that these accounts allow traders to trade with 1:100 leverage, while they cannot hold trades during the weekend and trade during high-impact news releases.

I would recommend FTMO to anyone who is looking for a proprietary trading firm with straightforward rules. Note that they have been in the industry since 2015 and are still providing extraordinary results and statistics while funding traders worldwide. After considering everything FTMO offers, we can easily say that they are one of the best proprietary trading firms in the entire prop firm industry.

The review about FTMO was lastly updated on 10.11.2023 at 09:09 (CE(S)T).

So, what do you think about the layout of the Proprietary Trading firm? Does FTMO have the instruments that you want to trade?

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