FTMO is the most well-known prop firm around and rightfully so. Over the past year, FTMO have made their mark in the industry. Great reputation, great trader support, a few options of top brokers to choose from, simple trading requirements, up to 90% profit share, up to $400,000 funding – and a large following!
- 24/7 online live chat support.
- Great customer service.
- Onboard trading psychologist for customers.
- CEO is very involved.
- Large scaling plan for increased funding.
- Limited to 2 accounts.
- Educational content is entry-level.
- Trading requirements can be tough.
The challenge is the first part of the evaluation process. There are trading objectives that you have to reach. You do not need to use the full 30 days in this phase – but you do need to trade a minimum of 10 days.
The verification stage is the second and final part of the evaluation process. This is to ensure that you did not just get lucky in the challenge phase and can maintain your consistency. This is much easier to pass than the challenge phase and you have 60 days to reach the targets. Again, you don’t need to utilize these 60 days in full: once you meet the trading objectives, FTMO will fund you.
FTMO have just announced that they now offer 80% profit split, with the potential to increase to 90% as the account scales up.
FTMO also offer a Swing Account, where there are no news trading restrictions, you can hold trades overnight and over the weekend. This is perfect for swing traders looking at holding their trades over days or weeks.
FTMO offer 1:100 leverage.
There are 28 currency pairs to trade, GBPUSD, GBPJPY, GBPCAD, GBPCHF, EURAUD, EURNZD, GBPAUD, GBPNZD, AUDUSD, AUDNZD, AUDCAD, UADCHF, AUDJPY, NZDUSD, NZDJPY, NZDCHF, EURUSD, EURGBP, EURJPY, EURCAD, EURCHF, USDJPY, USDCAD, USDSCHF, CHFJPY, CADCHF, CADJPY, as well as Bonds, Crypto, Indices, Stocks and Commodities.
Withdrawals are processed monthly.
FTMO have been kings in this industry for a while, and with their large profit split, great reputation, large following, social media presence, and high leverage, they will remain kings. However, some traders might find it difficult to pass the challenge and evaluation phases.