Is FTMO a trustworthy company? (2024)

FAQs

Can FTMO be trusted? ›

Having successfully operated since 2015, we provided thousands of clients with their FTMO Accounts, and in total, we have paid out over $160 million. We've also been featured in Forbes and awarded by Deloitte and EY multiple times.

In conclusion, FTMO is a reputable proprietary trading firm that pays out profits to its traders as promised. The company has a transparent and reliable payout process, and numerous positive reviews from satisfied traders attest to this.

One of the main reasons why FTMO is a good prop firm is their investment options. They offer traders the opportunity to trade with their own capital, as well as access to additional capital from FTMO.

The FTMO challenge has a reputation for being extremely difficult to pass. Across FTMO's various account levels, it is estimated that only around 10% of traders are able to successfully complete the evaluation and become a funded trader. This means approximately 90% of those who attempt the challenge end up failing.

With FTMO, once you get to the FTMO Trader stage you can receive real rewards for your performance. You can withdraw your reward anytime between 14 to 60 days from your first trade on your FTMO Account (Profit Split).

FTMO is one of the most reliable firms in modern prop trading industry. Here's why. FTMO Solution with a wide choice of assets across the board, with very low commissions and spreads.

The payouts are processed within 1-2 business days upon confirming the invoice. You can receive your profits by a regular bank wire transfer, Skrill or cryptocurrencies. We don't charge any commissions for withdrawals.

If you are able to repeatedly pass our Free Trial, then there are chances you can succeed in the full FTMO Challenge as well. This should encourage you to start your journey to become one of our FTMO Traders.

The FTMO Challenge stage has reasonable rules, where the Profit Target is in balance with the drawdown we allow you to take. We call these rules Trading Objectives. There is no time limit within which you need to pass the Profit Target, the Trading Period is indefinite.

FTMO 's top competitors in May 2024 are: FunderPro, the5ers and more. FunderPro is currently rank as the number one on the list of top Forex Prop Firms.

How much should I risk on FTMO? ›

Risk per trade

How much should you be risking per one trade? In most textbooks and online education programs, you will learn that you should not be risking more than 2% per one trade. Although the answer to this is more complicated, let's start with saying that 2% risk per trade is a good base to start with.

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.

When you lose an FTMO challenge, you won't actually be losing something except for the fee amount that you paid for the challenge. However, you won't be able to continue with the challenge and your eligibility would be lost.

In one trading period on FTMO Account, you executed on average 117.9 trades, and we paid you an average of $4,685. However, it's not just about the payouts either. We perceive our project as a support of the whole retail trading industry.

FTMO just banned US citizens: USA update – January 2024: Since the establishment of our company, our goal has been to provide top-quality services for our clients. Unfortunately, at present, we are not able to do that in the United States due to specific conditions in the market segment there.

Daytraders and scalpers usually risk only 0.5-1% per trade. On the other hand, if we are a swing trader who only takes 1-2 trades per week, the 2% risk might be too small. If we know that the next trade will come up in a few days, we can probably bump our risk a little.