Do we charge any other fees? Are the fees recurrent? (2024)

FAQs

Does FTMO charge fees? ›

The broker/provider charges you a transaction fee whenever you open a trade. In FTMO, commissions for currency pairs are $3/lot, for metals and equity CFDs they are based on percentage/volume. Equity CFDs have a commission of 0.0040% per lot, metal CFDs (XAG, XAU, XPT and XPD) have a commission of 0.0010% per lot.

The one-time fee for an FTMO Challenge covers it all, including the Verification, there are absolutely no recurring fees with us.

In conclusion, the FTMO 200k account price is $485, which covers the one-time fee for the Challenge and Verification stages. Traders must also deposit a minimum of $5,000 to start trading the $200,000 account.

FTMO is an excellent proprietary trading firm for forex traders. The FTMO Challenge rules and Verification process are well-documented and transparent. The pricing is reasonable, and the supported trading tools are popular amongst traders.

In what appears to be related to the latest MetaQuotes crackdown on the proprietary trading landscape, prop firm FTMO has stopped onboarding US clients, Finance Magnates has learned. New traders attempting to register from a US IP address were unable to complete the registration form.

The fee covers the costs related to the FTMO Challenge provided by FTMO such as the designing, development, and operation of the FTMO platform (the technical infrastructure behind the provided educational services and applications).

We don't charge any commissions for withdrawals.

You don't need to score any minimum profit to receive a Profit Split, only just enough to cover the transaction fees* Whatever amount of profit you generate, you are entitled to withdraw 80% of it.

There is estimated to be a 90% fail rate of traders that take the FTMO challenge. The reason behind this is due to traders chasing the profit target with a time restriction in place. A trader doesnt know when a winning streak might occur, or when they may take a string of drawdowns.

MetaTrader is the most widely used program among forex traders, and that applies to FTMO traders as well. The program's environment is intuitive and straightforward, however, its modifiability gives modders space to make it even better and user-friendly.

Due to regulatory developments and business decisions based on risk management considerations, FTMO does not accept clients in India, the Russian Federation, the Republic of Belarus, the Republic of Indonesia, Cuba, Venezuela, Sudan, and South Sudan.

Is FTMO a con? ›

Is the FTMo Forex challenge legit? They are a legitimate company and they pay well. If you become one of their funded traders, the profit split is 70/30. They take 30% and they will send you 70% of the profits you make from your funded account.

Among many other potential factors, the main disadvantages of prop trading arise from being classified as a market professional, unfavorable profit sharing, and whether your net trading profits are taxed as capital gains or ordinary personal income.

Most of today's reputable brokers have trading fees (commissions) of around $3 per lot. In exceptional cases, you may then trade certain select groups of instruments without fees.

We don't charge any commissions for withdrawals.

You don't need to score any minimum profit to receive a Profit Split, only just enough to cover the transaction fees* Whatever amount of profit you generate, you are entitled to withdraw 80% of it.

We offer a Free Trial account, which is an abridged version of an FTMO Challenge. The purpose of the Free Trial is to serve our new clients to see how it works and assess their trading skills to see if they have what it takes to pass an FTMO Challenge and Verification.

Any income that would be taxable if paid out in cash to you - would also be taxable if not drawn out. If there is a distribution of taxable income, it will be taxable whether you withdraw it from the platform or not.