FTMO Review
4.5

FTMO Review

FTMO is a forex prop firm with an attractive Two-step challenge. They offer up to $200,000 in funding to traders.

Is FTMO reliable forex prop firm? What is their discount code? What are their evaluation programs? Find out here.

Pros
  • Trading Psychologist for Traders
  • Scaling Plan to Increase Capital
  • CEO’s open communication with the public
  • Strong Trustpilot reviews (4.9/5)
  • Excellent customer service, including 24/7 Live Chat support
  • Free trial option
  • Unlimited evaluation-free retries
  • Bi-weekly payouts
  • Unlimited trading period with no time limit on challenges
  • A wide variety of trading instruments
  • Leverage of 1:100
  • Attractive 70% profit split
  • Funding opportunities up to $400,000
  • Multiple trading instruments are available
  • Multiple trading instruments are available
Cons
  • Educational videos are not for skilled traders
  • Maximum 2 accounts with $200,000
  • Long vetting process
  • 5% Tools are pretty basic

What is FTMO?

The FTMO proprietary trading firm stands at the forefront of the proprietary trading arena for excellent reasons. Renowned for its knack for discovering and nurturing exceptional proprietary traders, FTMO is a name you should consider. To gain deeper insights into what this firm offers, I recommend pursuing my comprehensive FTMO review.

Established in 2017 by its owner, Otakar Suffner, FTMO embarked on its journey with the primary objective of offering funded trading accounts to exceptionally talented traders. Headquartered in Prague, Czech Republic, FTMO has exhibited remarkable growth since its inception, earning accolades such as the Deloitte Rising Star Award in 2019 and 2020.

FTMO distinguishes itself as a leading proprietary trading company, permitting investors to trade a diverse range of instruments, such as forex, stocks, cryptocurrency, bonds, and more.

This Czech-based company has a stellar reputation, evident in its impressive track record. Notably, it received the prestigious Technology Fast 50 Winner accolade from Deloitte for four consecutive years, from 2019 to 2022. Additionally, FTMO boasts an exceptional 4.9 out of 5.0 rating on Trustpilot, derived from a pool of 5,004 reviews.

For compliance-related purposes, FTMO operates multiple subsidiaries. The website is owned and operated by FTMO. Due to its highly sophisticated trading applications that support a variety of trading strategies and top-notch customer support systems, this company enjoys a favorable reputation.

Image of FTMO.

FTMO Funding Programs and Challenges: Rules and Requirements

FTMO offers its traders two different two-phase evaluation funding programs to choose from:

  1. Evaluation program accounts
  2. Normal evaluation program accounts
  3. Aggressive evaluation programs accounts

This section of the FTMO review delves into the evaluation process, trading objectives, and the range of tradable assets offered by FTMO.

Evaluation Process:

The FTMO evaluation process is a structured journey consisting of two fundamental steps:

FTMO Challenge: Step 1

The initial phase, known as the FTMO Challenge, requires participants to demonstrate their trading discipline, skills, and profitability. Success in this challenge is contingent on meeting specific trading objectives.

The FTMO Challenge has a set duration of 30 calendar days, which acts as the maximum allowable time to achieve the predetermined goals. If participants successfully reach the profit target while adhering to all the stipulated rules within this timeframe, they proceed to the verification step. However, a minimum of 10 trading days is mandated. For instance, if you achieve your target within the first 5 trading days, you must engage in additional trades for the remaining 5 days. Nevertheless, you can execute lower-risk trades to comply with the rules while maintaining the profit target attained in the initial 5 days.

The fee for the FTMO Challenge is a one-time payment, with the specific amount dependent on the chosen funded trading account size. Importantly, there are no additional fees associated with the verification process (Step 2) or the FTMO Trader program (Step 3). A noteworthy aspect of the FTMO Challenge fee is that FTMO reimburses this fee once you become a funded trader, becoming the first profit share.

Verification: Step 2

The verification step follows the FTMO Challenge, providing participants with double the amount of time to reach the profit target while adhering to the established rules. This phase spans 60 calendar days, affording ample time for traders to demonstrate their trading prowess.

There are no extra fees for the verification process upon successful completion of the FTMO Challenge. Similar to the challenge, the verification stage mandates a minimum of 10 trading days to be fulfilled. Meeting this requirement and achieving the profit target within 60 days results in an offer to become a funded trader at FTMO.

FTMO Trader: Step 3

By completing the FTMO Challenge and Verification, participants have demonstrated their eligibility to receive funding from a proprietary trading firm. This achievement reflects a mastery of proper risk management, excellent trading skills, and unwavering discipline within the controlled environment of the demo account during Steps 1 and 2.

Reaching Step 3 signifies the realization of the objective of becoming a funded trader. At this juncture, your FTMO account is connected to the company’s live trading account. The default profit split ratio for all FTMO traders typically stands at 80:20, meaning you retain 80% of the profits earned, ready to withdraw to your bank account.

However, FTMO also offers a scaling plan, which presents the opportunity to achieve a profit split ratio of up to 90:10. This enhanced ratio is distinctive within the industry, providing traders with even greater potential for profit retention.

FTMO Broker: Do They Use a Reliable Platform? 

FTMO distinguishes itself by not engaging with typical, well-known broker brands. Instead, they have established a partnership with a tier-1 liquidity provider, thereby offering traders the advantage of the best simulated real market trading conditions through this trusted broker.

When it comes to trading platforms, FTMO provides flexibility by offering a choice among three prominent options:

  1. MetaTrader 4: Traders can opt for the widely recognized MetaTrader 4 platform, known for its user-friendly interface and comprehensive charting tools.
  2. MetaTrader 5: Another option available is MetaTrader 5, which offers advanced features and enhanced functionality for more experienced traders.
  3. cTrader: For those seeking an alternative, cTrader is a popular choice, known for its intuitive interface, order execution speed, and comprehensive technical analysis capabilities.

The availability of these diverse trading platforms ensures that traders can select the one that aligns best with their trading preferences and strategies, making FTMO a versatile and accommodating platform for a broad range of traders.

FTMO Fees: How Much Do They Charge?

FTMO offers a tiered pricing structure that provides traders with varying levels of initial trading capital based on the challenge they select. The pricing starts at EUR 155 and increases up to €1080. The allocated trading capital for each challenge ranges from €10,000 to EUR 160,000, depending on the specific challenge you choose to participate in.

Here’s a breakdown of the pricing structure:

€155 FTMO Challenge:

  • When you pay the €155 fee to enter the Challenge, you will receive an initial trading capital of EUR 10,000. It’s worth noting that it also offers equivalent capital amounts in other major currencies, such as USD, AUD, GBP, CHF, and CAD.

€250 FTMO Challenge:

  • For the €250 fee to participate in the Challenge, you will also receive an initial trading capital of EUR 10,000, with the option to choose an equivalent capital amount in other supported currencies.

FTMO Challenge Swing:

  • When competing in the Challenge Swing, the cost and initial trading capital differ. With this challenge, you pay the specified fee, and you are granted an initial trading capital of EUR 20,000. However, it provides flexibility by offering equivalent capital amounts in multiple currencies: USD ($25,000), GBP (£20,000), CHF (20,000), CAD (30,000), and AUD (30,000).

This tiered pricing and capital structure allows traders to select the challenge that aligns best with their preferences and risk tolerance, tailoring their trading journey according to their specific needs and goals.

FTMO Proof of Payment:

FTMO, established as a proprietary trading firm in September 2015, offers unique features that set it apart in the industry. One of its notable advantages is the ability for traders to request bi-weekly payouts once they secure funding. This means that traders can access their earnings regularly, enhancing their liquidity and financial flexibility.

Additionally, FTMO adopts a more trader-friendly approach by not imposing any specific profit targets that traders must achieve before being eligible for withdrawals. This flexibility in profit withdrawal requirements empowers traders to manage their finances more freely, aligning with their individual trading strategies and goals. This approach distinguishes FTMO as a trader-centric platform, promoting a conducive environment for traders to thrive and succeed.

FTMO Customer Support: 

It maintains an active presence on various social media platforms, allowing users to stay connected and informed about their services.

Here are the details of their social media profiles:

  1. Facebook: FTMO has a Facebook page with a substantial following of 50,588 followers.
  2. Twitter: Their Twitter account boasts a substantial audience of 24.7k followers.
  3. Instagram: An impressive 159k people follow FTMO’s Instagram account.
  4. YouTube: They have a dedicated YouTube channel with 78.8k subscribers and have uploaded 204 videos, providing valuable content to their community.

Support is readily accessible through various means:

  1. FAQ Page: FTMO offers a comprehensive FAQ page that serves as a valuable resource for users seeking specific information.
  2. Email Support: Users can directly contact the support team via email at support@ftmo.com for personalized assistance.
  3. 24/7 Support: The customer support team operates around the clock and is available through various communication channels, including email, live chat, and WhatsApp.
  4. Phone Support: Users also have the option to reach it via phone calls, with support available from Monday to Friday between 8 AM and 5 PM CE (S)T. They can be reached at +44 2033222983.

Their multilingual team can communicate in 15 languages, catering to a diverse user base. The supported languages include English, German, Spanish, Portuguese, French, Italian, Czech, Hindi, Filipino, Vietnamese, Slovenian, Serbian, Ukrainian, Turkish, and Russian.

The availability of multiple communication channels and support in various languages underscores FTMO’s commitment to providing accessible and responsive assistance to its users.

What makes FTMO unique? 

Application on the Google Play Store:

On the Google Play Store, it has 100K+ downloads and the company has a 4.5 star rating out of 5 stars. A total of 847 reviews have been posted on this platform to date. 

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FTMO Reviews: What Do Their Customers Say?

Trustpilot:

The firm has a great reputation on Trustpilot, with a rating of 4.9 out of 5 stars from a total of 6,635 customer reviews. They are a verified company on the platform and have claimed their profile. Overall, their standing on Trustpilot is excellent.

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Positive Customer Responses on Various Rating Websites:

#1. A satisfied customer expresses her delight with her experience, describing it as excellent. She finds the firm remarkably transparent, a professional firm that diligently fulfills its commitments. To date, she has received six payouts, including her most recent refund, and she couldn’t be happier about being a part of the family.

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#2. A customer of FTMO lauds the company’s enduring presence as a pioneer since the inception of the industry, establishing itself as the standard for the proprietary trading firm revolution. FTMO’s brand is synonymous with reliability and professionalism, devoid of unnecessary frills. The challenges they offer strike a commendable balance, and their responsible approach to introducing new rules is noteworthy. Currently, FTMO has introduced the option of unlimited time for their challenges, adding to their flexibility. Furthermore, the 24/7 support they provide is top-notch.

#3. Donna Zunna shares a disheartening experience of falling victim to an attempt to invest in BSQ Crypto Investment and the Acst Trading app. In his quest for assistance, he was directed to an investigative company. Upon reaching out to them and detailing the entire situation, including the unfortunate investment outcome, they provided reassurance that his funds could be recovered, albeit with some time required. Miraculously, they successfully restored his lost money. Donna was left in disbelief, as he had thought all was irretrievably lost. He strongly recommends seeking assistance from the Octafex recovery expert on Telegram if you find yourself in need of fund retrieval from any unscrupulous broker.

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#4. Marc enthusiastically praises the firm as an exceptional platform, highlighting its alluring and user-friendly interface. He also commends the impressive quality of customer support. Having tested six different proprietary trading firms, Marc reveals that it stands out as one of only two with which he feels entirely at ease working. He wholeheartedly recommends it to others.

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#5. Hassoune Anas expresses, in all honesty, that the company is a resounding success by every measure. The dedicated team members consistently contribute to creating a positive and enjoyable atmosphere, leaving Anas Hassoune feeling extremely content. Sincere gratitude is extended, and warm regards are sent from Anas Hassoune.

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Negative Customer Responses on Various Rating Websites:

#1. Rease’s Throwback strongly asserts that the firm is nothing but a complete scam, accusing them of theft. He claims that it seizes your account without providing any explanation, and when you seek assistance from their support, they appear to evade addressing the issue. In Rease’s opinion, it resembles the notorious MyForexFunds, and he recommends avoiding it altogether or approaching it with extreme caution.

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#2. David Roberto laments that the firm takes your funds and then vanishes. Following significant losses experienced with it, he has reverted to a more dependable and reputable platform on his timeline. The company on his timeline provides valuable guidance on achieving profitability in investments, offering timely and precise returns. It is indeed a wonderful and reliable platform that David trusts.

FTMO complaints 4

#3. Olivier recounts a frustrating experience with the firm, having completed three paid challenges. Unfortunately, her experience took a turn for the worse when it abruptly canceled her challenge on a Sunday night without any prior communication. The reason provided was a minor infringement from a week earlier when she had slightly exceeded the permissible limits.

Despite her account still functioning smoothly, it found a means to terminate the challenge and, in the process, collect the challenge fee. Olivier believes such situations should not occur with the technology available today, and she firmly asserts that cancellation after several days is unacceptable in her view. Regrettably, no response was received from the firm.

FTMO complaints 3

#4. A customer of FTMO recounts an experience where, on two occasions, they received confirmation both via email and live chat that they could continue their challenge despite being from Indonesia. However, to their dismay, FTMO ultimately removed them from the challenge, even though they had not violated any rules and had generated a profit.

FTMO complaints 2

#5. Muhammad Gud shares a troubling experience, stating that FTMO treated him similarly to how MFF fraudulently did last week. He encountered a failed verification due to their system indicating that he exceeded the maximum daily equity loss, despite not actually incurring any trading losses. Muhammad suspects that they manipulated his data to falsely portray that he had breached the limit, even though the price level on TradingView never reached such a point.

FTMO complaints

Wrapping it up:

Upon thorough examination, FTMO emerges as an exceptional proprietary trading firm, presenting a distinctive opportunity for adept and seasoned traders to oversee substantial capital without risking their own resources. While the platform’s two-step evaluation process may demand time and effort, it serves the crucial purpose of vetting only the most disciplined and consistent traders, ensuring they gain access to FTMO’s funding.

FTMO’s enticing profit-sharing model, combined with the reimbursement of the initial fee following the first profit split, positions it as an enticing choice for traders aspiring to elevate their careers. Furthermore, the wealth of educational resources, performance coaching, and robust support of the FTMO community equip traders with the essential tools and support required to thrive in the competitive realm of trading.

In summation, FTMO represents a promising avenue for skilled traders aiming to advance their professional journey, offering a challenging yet rewarding environment for individuals capable of showcasing their trading expertise and unwavering consistency. Embark on your trading journey with FTMO by clicking here today.

FTMO Review Details

Trading Platforms
Deposit Methods
Withdrawal Methods
Account Currencies
Incorporation

Account size up to:
$400,000
Profit Split Up to 70%
*Choose your account type and start trading

4.0
Fees
5.0
Trading Platforms
4.0
Deposit and Withdrawal
5.0
Customer Support
4.5 Overall Rating

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FTMO Review
4.5/5
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