Who can join FTMO? (2024)

FAQs

Why did FTMO stop accepting US clients? ›

Exclusive: Prop Trading Firm FTMO Halts US Client Acquisition amid MetaQuotes Crackdown. 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.

Around 10% pass

According to FTMO statistics, only about 10% of traders are able to pass the funded account challenge at any account level. This means approximately 90% of aspiring funded traders fail the evaluation and are unable to gain access to the firm's capital.

No specific qualifications are required. All clients must be over the age of 18.

FTMO Banned USA Clients – Heres our Top 5 Alternatives (Accepting USA Traders) FTMO have now restricted access to all new US-based traders as of January 2024. This appears to be related to regulatory issues and may have something to do with the recent My Forex Funds case.

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.

The two MetaTrader apps were banned on Apple's App Store in 2022 for their alleged use by fraudsters targeting the US citizens and residents.

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.

Dariusz from the USA exceeded everyone's expectations and made his dreams come true. As our FTMO Trader with a maximum allocation, he beat the previous record payout of $500,180 thanks to his profit of $1,206,225, the biggest payout in the industry!

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.

FTMO Banned Countries

United States of America (US) The Russian Federation. India. North Korea.

What documents are required for FTMO? ›

Valid government-issued ID document showing nationality, a document confirming the registration as an entrepreneur and Proof of address are required)

The Profit Split on an FTMO Account is done on a monthly basis by default, with the option to place a payout on-demand after a period of 14 calendar days from the first placed trade on the account.

A widespread crackdown is impacting how prop trading firms operate inside and outside the U.S. Prop trading firms have been shutting down or suspending their services, particularly to U.S.-based clients, because of a crackdown from MetaQuotes, the company behind the popular MetaTrader trading platforms.

The reason for this is quite simple - capital requirements. While a broker has to have around $100,000 - $500,000 of locked capital to obtain one of the European licenses, NFA requires quite an enormous amount of capital to be able to operate in the US - 20 million dollars.

Are Forex Brokers and Forex trading legal in the U.S.? Yes, forex brokers are legal in the U.S., but they must be registered with and regulated by the Commodity Futures Trading Commission (CFTC) and be members of the National Futures Association (NFA).

The reason for this is quite simple - capital requirements. While a broker has to have around $100,000 - $500,000 of locked capital to obtain one of the European licenses, NFA requires quite an enormous amount of capital to be able to operate in the US - 20 million dollars.

It is not illegal to operate or trade with a prop firm. However, where most online prop firms come unstuck is in their business practices and terms of service. Some of the largest prop firms that I'm sure you would have heard of have fallen victim to these mistakes over the last few months.

Short answer: Yes, FunderPro is still accepting US traders.

One major issue in the industry at the moment is for US-based traders.