Written by IVAN S.
Fact checked by CEZARY J.

FTMO

This company has earned recognition in the trading community, being one of the pioneers in the proprietary trading firm model. Its longstanding presence in the market is affirmed by stability and trust from users worldwide, making it a significant player in the industry.
best experience
4.83
Overall score
FTMO Introduction

The FTMO trading platform offers the Normal challenge, which allows for a maximum funding limit of 400,000 USD. Within this prop firm challenge, participants are required to achieve a 10% profit in the first phase and 5% in the second phase, with the total drawdown not exceeding 10%. During the challenge, the use of trading robots and cryptocurrency trading is permitted.

In terms of scaling, FTMO has implemented a plan executed in four-month cycles, requiring traders to achieve a specified net profit and make at least two withdrawals. The platform utilizes its own broker and MT4 servers, offering traders a wide range of assets including currency pairs, precious metals, cryptocurrencies, and CFD contracts. Four trading platforms are available: MT4, MT5, DXtrade, and cTrader.

The deposit and withdrawal processes on the platform generally receive positive reviews. Additionally, FTMO offers customer support via email, chat, WhatsApp, and telephone, as well as access to extensive educational materials and trading tools. The overall customer satisfaction with FTMO’s services is high, as evidenced by an average rating of 4.8 out of 5 on Trustpilot.

Overall, FTMO is perceived as a platform offering efficient payout processes, responsive customer support, and favorable trading conditions. The platform actively communicates through social media, regularly posting content on Facebook, X, Instagram, YouTube, TikTok, and Discord.
The platform also stands out for its advanced tools and features available to traders. Among them are Account MetriX, which enables tracking progress in trading challenges, and Trading Journal, which assists in documenting and analyzing trading activity. Economic Calendar, Trader’s Analysis, Statistical App, Margin Calculator, Pip Calculator, and Symbols & Updates are other tools provided by FTMO. Additionally, the Mentor App supports traders in pursuing trading discipline, and the Equity Simulator allows for testing various trading strategies. The FTMO affiliate program offers rewards for referring new traders, as well as development and training programs to enhance trading skills.

Profit Split up to 90/10
Maximum sum of funds: Up to $400,000 in total.
Allowing the use of trading robots and cryptocurrency trading on weekends
The costs for the challenge at FTMO for the challenge are above the market average
Limited variety of choices challenge
Minimum number of trading days: 4
Company Profile

FTMO (FTMO Evaluation Global s.r.o., FTMO Evaluation US s.r.o.)

Location of Operations:

Purkyňova 2121/3, Nové Město, 110 00 Prague, Czech Republic

Company Info:

Statutory authority:

  • executive: OTAKAR ŠUFFNER
  • executive: MAREK VAŠÍČEK

Date of creation: June 2, 2020

Restricted countries: Iran, Syria, Myanmar, North Korea, India, Russia, Belarus, Indonesia and USA.

CEOOtakar Suffner, serving as the CEO and co-founder of FTMO, has played a pivotal role in shaping the company’s vision and strategic direction. His leadership have been instrumental in establishing FTMO as a leading firm in the Forex trading industry.
Linkedin: https://cz.linkedin.com/in/otakar-%C5%A1uffner-93a277144

Key information
Overall score
4.83
Challenge fees
3.1
Challenge difficulty
3.7
Dashboard UX
4.7
Commision & spread
3.4
Scaling plan
5
2-phase Challenge
Challenge name FTMO Challenge Swing
$100k Challenge Fee $540 (after discount)
FX leverage 1:30
EA trading Yes
News trading Yes (only challenge phase)
Weekend holding Yes
Phase 1
Trading period
UNLIMITED
Min. trading days
4
Profit target
10%
Maximum loss
10%
Maximum daily loss
5%
Phase 2
Trading period
UNLIMITED
Min. trading days
4
Profit target
5%
Maximum loss
10%
Maximum daily loss
5%
Payout
Profit split
80/20
First withdrawl
8 days
Min. days to payout
14
Refundable Fee
100%
FTMO in detail
Challenge type

FTMO presents the Normal challenge, offering investors the opportunity to acquire a funded account. Accounts are available in seven different currencies, with a maximum funding limit of 400,000 USD. In the first phase of the challenge, the goal is to achieve a 10% profit without a set timeframe, while maintaining a daily drawdown of 5% and a total drawdown of 10%.

The second phase requires achieving a 5% profit, with the same drawdown limitations.

Upon successful completion of both phases, participants receive a fee refund and a profit split of 80/20%. The Normal challenge permits the use of automated trading robots and allows trading in cryptocurrencies on weekends. It also offers a ‘Swing account’ option, which is designed for traders preferring to hold positions for longer periods.

Upon completing this phase, the investor receives a 100% Refundable Fee. The first payout is possible 30 days after the first trade. However, the investor can request an earlier payout after 14 days from the first trade at the FTMO Trader stage.

Profit Split up to 90/10
Allowing the use of trading robots and cryptocurrency trading on weekends.
Maximum sum of funds: Up to $400,000 in total.
Phase 1: Minimum number of trading days: 4
Phase 2: Minimum number of trading days: 4
Scaling Plan
5

On the FTMO platform, the account scaling process is conducted in four-month cycles. For an investor to qualify for a capital increase, a minimum net profit of 10% must be generated over four consecutive months. This translates to an average of at least 2.5% net profit per month for a standard account. During this period, the trader is required to make a minimum of two withdrawals. It is crucial that the trader’s account balance at the end of the scaling period is higher than the initial balance. The qualification mechanism is automated, and progress and requirements are communicated at each Profit Split. If the criteria are met, the investor has the opportunity to confirm their desire for capital increase during the withdrawal process. An account with additional capital is automatically allocated for the next trading period.

Elapsed time Initial balance Max daily loss Max loss
0 months 400 000$ 20 000$ 40 000$
4 months 500 000$ 25 000$ 50 000$
8 months 600 000$ 30 000$ 60 000$
12 months 700 000$ 35 000$ 70 000$
16 months 800 000$ 40 000$ 80 000$
Example of scaling plan

It should be noted that during the scaling process, the basis for calculating loss limits is adjusted, but the methodology for calculating these limits remains unchanged. After another four-month period, provided the trader meets the account growth conditions and makes at least two withdrawals, they are entitled to a further 25% increase of the initial FTMO account balance in demo capital. The process of increasing demo capital is limited to $2 million per trader.

 

Traders participating in FTMO’s scaling plan achieve elevated profit split ratios up to 90/10%. The benefit of higher Profit Split ratios applies to newly increased accounts, not to accounts that have been merged with previously increased accounts. If there is an intention to merge an account that has not been previously increased with an already increased account, the profit split ratios change to 80/20%.

Challenge fees
3.1

Comparison of Direct Challenge Costs

We compare the direct costs of participating in the challenge offered by FTMO – Evaluation Challenge with the average market costs. This analysis enables understanding of how FTMO fares against its competitors in terms of pricing. The costs for the challenge at FTMO for the challenge are above the market average.

*The price includes a discount available on the website.

Challenge Size Market Average Price Challenge Price Difference
10 000$ 108$ 155$* +47$
25 000$ 209$ 250$* +41$
50 000$ 310$ 345$* +35$
100 000$ 515$ 540$* +25$
200 000$ 969$ 1080$* +111$

Comparison of Costs Relative to Drawdown

It is important to note that the size of drawdown has a significant impact on what we actually receive for the money spent. The Evaluation Challenge has a drawdown at the level of 10%. Therefore, we additionally compare how much drawdown we receive in relation to the dollar spent.

Challenge Size Market Average Price [Drawdown$/$] Challenge Price [Drawdown$/$] Difference [Drawdown$/$]
10 000$ 8,6 6,5 -2,1
25 000$ 11,4 10,0 -1,4
50 000$ 15,4 14,5 -0,9
100 000$ 18,5 18,5 0
200 000$ 20,4 18,5 -1,9

Evaluation of the Cost-Effectiveness of the FTMO Account Challenge

Based on the above data, as well as algorithms we have developed, we assess the cost-effectiveness of purchasing the Evaluation Challenge as poor compared to the market average. It is worth noting that the price for the challenge of $100,000 is close to the average.

Assets

Forex

AUD/CAD AUD/CHF AUD/JPY AUD/NZD AUD/USD
CAD/CHF CAD/JPY CHF/JPY EUR/AUD EUR/CAD
GBP/CHF GBP/JPY GBP/NZD GBP/USD NZD/CHF
NZD/USD USD/CAD USD/CHF EUR/CHF EUR/CZK
EUR/GBP EUR/JPY EUR/NOK EUR/NZD EUR/PLN
EUR/USD GBP/AUD GBP/CAD GBP/CAD USD/CZK
USD/HKD USD/HUF USD/JPY USD/MXN USD/NOK
USD/PLN USD/SEK USD/ZAR

Exotics

EUR/CZK EUR/HUF EUR/NOK EUR/PLN USD/CZK
USD/HKD USD/HUF USD/ILS USD/MXN USD/NOK
USD/PLN USD/RUB USD/ZAR USD/SEK USD/TRY

Metals CFD

XAG/USD XAG/EUR XAG/AUD XAU/USD XAU/EUR
XAU/AUD XPD/USD XPT/USD

Crypto CFD

BTC/USD DASH/USD ETH/USD LTC/USD XRP/USD
XMR/USD NEO/USD ADA/USD DOGE/USD

Futures CFD

NATGAS.f DX.f ERBN.f USTN10.f

Equites CFD

AAPL AIRF ALVG AMZN BABA
BAC BAYGn DBKGn META GOOG
IBE LVMH MSFT NFLX NVDA
PFE RACE T TSLA V
VOWG_p WMT ZM
UX Rating
4.7

FTMO’s website stands out for its exceptional UX design, offering clear, accessible information, a streamlined registration process, and robust technological and trading infrastructure. It effectively guides users through understanding the company’s services, registering an account, and purchasing a trading challenge. The user-friendly design and consistent branding significantly enhance the user experience. Moreover, the site’s intuitive layout and informative content structure contribute to an effortless navigation experience. The seamless integration of educational resources and support systems further cements FTMO’s commitment to user satisfaction and engagement.

Trading conditions

FTMO uses its unique broker and manages its own MT4 servers. Users can access these servers under names such as ‘FTMO-Server2’ or ‘FTMO-Demo’. The company does not reveal extensive information about its liquidity providers, though it assures that it only works with highly reputable entities.

Proprietary servers and brokers, as employed by prop trading firms like FTMO, offer both benefits and drawbacks. Advantages may include reduced position fees and better server reliability, as these servers are dedicated to serving the firm’s trading clients. However, owning proprietary servers may also elevate risks such as potential price manipulation or delays, an issue brought to light by incidents like that with MyForexFunds.

In the absence of direct testimonials about FTMO’s liquidity providers, analysis was conducted based on the company’s reviews on Trustpilot, especially in relation to payouts. The Trustpilot feedback predominantly shows a positive view of FTMO in terms of payouts, with only a few negative comments on this matter. Nevertheless, there is a significant number of negative reviews that raise concerns about price manipulation.

Deposits and Withdrawals

Deposits

For participating in the FTMO Challenge, there are multiple payment options available, including bank wire, debit/credit cards, various cryptocurrencies, and Skrill. Accepted cards include those from:

MasterCard, Visa, Discover, and Diners Club International.

The range of cryptocurrencies you can use encompasses:

Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Solana (SOL), Tron (TRX), Tether (USDT), and USD Coin (USDC).

Withdrawals

While FTMO Traders engage in trading with virtual funds, they have the opportunity to earn actual monetary rewards if they successfully generate “profits” in their FTMO Account. Essentially, profitable trading with this simulated capital, which demonstrates their trading prowess, qualifies them for financial rewards.

Read more

 

Support

FTMO provides 24/7 customer support through email, chat, and WhatsApp. Telephone support is also available during specific hours. Below is a list of available channels:

Phone calls – 9 am – 5 pm CE(S)T, Monday to Friday, +44 20 3322 2983.

Customer service communicates in 16 languages:

Read more

 

Social Media and Communication

In a recent review of FTMO’s presence on various social media platforms, it’s observed that their strategy largely involves one-way communication. The main hub of their social media activity seems to be their Facebook page, which mirrors content found on their other social media accounts. The following is a summary of FTMO’s engagement across different platforms:

  • Facebook: FTMO on Facebook appears to be the primary channel for their social media content. This page not only shares trading-related memes but also suffers from a lack of moderation in the comments section, leading to spam and promotions of dubious Telegram and Discord channels. 
  • X: On FTMO’s X, the content is diverse, including financial market reports, major announcements, inspirational quotes, and interactive posts. 
  • Instagram : FTMO’s Instagram offers a mix of news, Trustpilot reviews, educational and promotional content, and information about new features and merchandise. 
  •  YouTube: In FTMO’s YouTube channel  promotions, announcements as well as interviews and educational materials can be found.
  • Discord: On the Discord channel a variety of information is shared, including announcements, marketing updates, trading and economic updates, and security tips. There are also community-focused channels for discussions, trading ideas, and sharing success stories. The community is active and vibrant.
  • TikTok: TikTok page includes promotional materials, announcements, educational content, a ‘trade of the week’ series, and trading-related sketches.

Engagement rate in social media:

Platform Followers Engagement Rate
Facebook 126000 no data
X 62800 0,15
Instagram 326000 0,41
Youtube 283000 1,49
Client Reviews Summary
4.8

The overall customer satisfaction score for FTMO, standing at 4.8 out of 5, predominantly showcases a favorable view from its users. This high rating points to a widespread contentment among traders with the services provided by FTMO, such as prompt payouts, attentive customer support, and favorable trading conditions. Nevertheless, it’s worth noting that FTMO often does not engage with negative feedback, which might be seen as a lost chance to address client issues and demonstrate a commitment to enhancing service quality. This absence of interaction in response to criticism could influence the perception of some traders, in spite of the largely positive feedback. On a brighter note, the impressive overall score highlights that the benefits, including the firm’s professionalism and the provision of valuable educational materials, tend to greatly overshadow any negative experiences for most of FTMO’s clientele.

Review platform Rating Number of reviews
Trustpilot 4.8 7599
Trustindex 4.8 7534
Reviews.io 2.3 3

Reiteration of Positive Aspects:

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Additional features

Free Trial

Account Registration and Trial Offer:

  • Trial Account Feature: FTMO provides a “Free Trial” account option, allowing prospective users to experience trading for 14 days in a risk-free environment. Users are allowed to choose from 7 currencies of the free trial account as well as 5 account balances

Simulated Trading Environment:

  • Platform: The trial takes place on FTMO’s simulated trading accounts, mirroring live market conditions.
  • Access to Features: Users can use most of FTMO apps, such as the Statistical Application, Mentor Application, Account MetriX, Trading Journal, and shortened version of Account Analysis.

Purpose and Limitations:

  • Educational Evaluation: The trial account is designed to let users test simulated trading conditions similar to those in the educational evaluation phases of FTMO’s programs.
  • Data Retention: It is important to note that any performance data or results generated while using the trial account will not be retained once the trial period ends.
  • Reward Eligibility: Users utilizing the trial account are not eligible for any payouts from FTMO.

Simulated Trading Environment:

  • Platform: The trial takes place on FTMO’s simulated trading accounts, mirroring live market conditions.
  • Access to Features: Users can use most of FTMO apps, such as the Statistical Application, Mentor Application, Account MetriX, Trading Journal, and shortened version of Account Analysis.

Purpose and Limitations:

  • Educational Evaluation: The trial account is designed to let users test simulated trading conditions similar to those in the educational evaluation phases of FTMO’s programs.
  • Data Retention: It is important to note that any performance data or results generated while using the trial account will not be retained once the trial period ends.
  • Reward Eligibility: Users utilizing the trial account are not eligible for any payouts from FTMO.

Account MetriX

Read more

 

Summary

FTMO is a recommendable company that offers straightforward solutions in its portfolio. Since 2014, it has been one of the leading firms in the prop trading market. It stands out from the competition thanks to a wide range of additional tools available on its website. Its reputation is confirmed by a very high rating on Trustpilot, where the number of reviews exceeds 7,000.

It’s also worth noting the professional support, which effectively assists in problem-solving. The company’s website is designed to a high standard, facilitating user navigation through tabs and the search for necessary information. Importantly, FTMO offers an attractive scaling plan. Crucially, the firm provides a wide selection of assets, enabling most traders to find the right tools for trading.

Despite many advantages, FTMO also has some shortcomings . The downsides include a spread that is average compared to other companies, and the high cost of participating in the challenge. Other firms offer a broader choice of challenges, while FTMO provides only a two-phase option with the possibility of choosing a swing or a normal account.

In summary, FTMO is a prop trading company worthy of recommendation. Their offering should meet the expectations of clients seeking services in the area of prop trading.

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