FTMO
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| Leverage | 1:100 |
| Minimum Deposit | $100 |
| Regulation | FCA, CySEC |
| Year Established | 2015 |
| Payment Methods | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller |
| Trading Assets | Forex, Indices, Shares, Commodities, Cryptocurrencies |
| MT4 | ✅ |
| MT5 | ✅ |
| Spreads | Very Low |
| Average cost: EUR/USD | 0.3 pips |
| Demo Account | ✅ |
| Islamic Account | ✅ |
| CopyTrading | ✅ |
| ZuluTrade | ❌ |
| Scalping | Yes |
| Signals | ✅ |
| EAs/Robots | Available |
| Negative Balance Protection | Yes |
| Deposit Fee | ❌ |
| Withdrawal Fee | ❌ |
| Contact Information | Email: [email protected], Phone: +420 224 934 130 |
| Address | Opletalova 25, 110 00 Prague 1, Czech Republic | Rating | ★★★★☆ 4.7 |
| Website |
Pros and Cons
- Extremely low spreads
- Comprehensive educational resources
- Wide range of trading assets
- Excellent customer support
- Flexible account types
- Limited payment methods
- No ZuluTrade
- High minimum deposit
- Inactivity fee
- Complex account verification
Introduction
FTMO is a proprietary trading firm that has garnered significant attention within the trading community due to its unique business model and trader-friendly policies.
Established in 2015 and headquartered in Prague, Czech Republic, the company offers traders the opportunity to manage substantial capital without risking their money.
This comprehensive review aims to provide a detailed analysis of the broker, focusing on its services, features, regulatory status, trading conditions, and overall user experience.
Create a Free AccountCompany Overview
FTMO operates on a proprietary trading model, funding traders to trade on its behalf.
Traders who pass the rigorous FTMO Challenge and Verification stages are granted access to a funded account.
The firm prides itself on its commitment to developing talented traders by providing comprehensive support, educational resources, and a robust trading infrastructure.
History and Background
The company was founded by a group of experienced traders and financial professionals.
They aimed to address the challenges faced by independent traders, such as limited capital and risk management.
Since its inception, the firm has grown into a globally recognized entity, attracting traders from various backgrounds and experience levels.
Mission and Vision
The company’s mission is to identify and develop trading talent by providing a risk-free environment for traders to showcase their skills.
Its vision is to become the leading provider of funded trading accounts, enabling traders to achieve financial independence and professional growth.
Regulatory Status and Security
Regulation is a critical aspect of any broker, ensuring the safety and security of client funds and promoting transparency.
FTMO is regulated by several reputable financial authorities, including the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).
These regulatory bodies enforce stringent standards, providing traders with confidence in the firm’s operations.
Regulatory Bodies
- Financial Conduct Authority (FCA): The FCA is a UK-based regulatory body known for its rigorous oversight and consumer protection measures.
- Cyprus Securities and Exchange Commission (CySEC): CySEC regulates financial markets in Cyprus and is recognized for its high regulatory standards.
Security Measures
The broker employs advanced security protocols to safeguard client information and funds.
These measures include SSL encryption, two-factor authentication (2FA), and regular security audits.
By adhering to these practices, the company ensures a secure trading environment for its users.
Account Types and Funding
FTMO offers a wide array of account types tailored to meet the needs of different traders.
The primary accounts are categorized based on the funding stage: FTMO Challenge, Verification, and FTMO Account.
FTMO Challenge
The FTMO Challenge is the first step in the process.
Traders must meet specific profit targets within a set period while adhering to strict risk management rules.
This stage assesses the trader’s skills and discipline.
Verification
Upon successful completion of the Challenge, traders enter the Verification stage.
This phase further evaluates the trader’s consistency and adherence to risk management.
The targets are more lenient than the initial challenge, but still require disciplined trading.
FTMO Account
Traders who pass the Verification stage receive an Account, funded with significant capital.
The trader is expected to manage this account professionally, with profits shared between the trader and the firm.
Detailed Account Comparison
To provide a clearer understanding of the differences between account types, here is a detailed comparison:
| Feature | FTMO Challenge | Verification | FTMO Account |
|---|---|---|---|
| Purpose | Assess trader’s skills | Confirm consistency | Funded trading |
| Profit Target | 10% in 30 days (Standard) | 5% in 60 days | Continuous performance |
| Risk Management Rules | Strict daily and overall limits | Similar to Challenge | Adherence to its guidelines |
| Evaluation Period | 30 days (Standard) | 60 days | Ongoing |
| Initial Funding | N/A | N/A | Up to $200,000 |
| Profit Split | N/A | N/A | 70/30 |
| Daily Loss Limit | 5% of initial balance | 5% of initial balance | 5% of initial balance |
| Maximum Drawdown | 10% of initial balance | 10% of initial balance | 10% of initial balance |
| Trading Platform | MT4/MT5 | MT4/MT5 | MT4/MT5 |
| Support | Standard | Standard | Enhanced |
Funding and Withdrawals
FTMO supports various payment methods for funding accounts, including bank transfers, credit/debit cards, PayPal, Skrill, and Neteller.
Withdrawals are processed promptly, with no fees charged by the firm.
This flexibility and efficiency in handling transactions are highly appreciated by traders.
Trading Platforms
FTMO offers access to industry-leading trading platforms, ensuring a seamless and efficient trading experience.
These platforms include MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both renowned for their robust features and user-friendly interfaces.
MetaTrader 4 (MT4)
MT4 is one of the most popular trading platforms globally, known for its reliability and extensive range of tools.
Key features include:
- Advanced Charting: MT4 offers a wide array of charting tools and indicators, enabling traders to perform detailed technical analysis.
- Automated Trading: The platform supports Expert Advisors (EA), allowing traders to automate their strategies.
- User-Friendly Interface: MT4’s intuitive design makes it accessible to traders of all experience levels.
MetaTrader 5 (MT5)
MT5 builds on the success of MT4, offering enhanced features and capabilities.
It includes:
- Improved Charting Tools: MT5 provides additional timeframes and advanced charting options.
- Economic Calendar: The built-in economic calendar helps traders stay informed about important market events.
- Market Depth: MT5 includes Level II pricing, offering more in-depth insights into market liquidity.
Trading Conditions
The broker provides competitive trading conditions, including tight spreads, high leverage, and fast execution speeds.
These conditions are crucial for both short-term traders and long-term investors.
Spreads and Commissions
It offers very low spreads across various asset classes.
For instance, the average spread for EUR/USD is 0.3 pips, making it attractive for forex traders.
The firm does not charge any commissions on trades, further enhancing its cost-effectiveness.
Leverage
This broker provides leverage of up to 1:100, allowing traders to maximize their trading potential.
While high leverage can amplify profits, it also increases risk, necessitating careful risk management.
Execution Speed
FTMO ensures fast execution speeds, reducing the likelihood of slippage and providing a better trading experience.
This feature is particularly beneficial for scalpers and high-frequency traders.
Asset Classes
FTMO offers a diverse range of trading assets, enabling traders to build a well-rounded portfolio.
The available asset classes include:
Forex
Forex trading is a major component of its offerings and traders can access a wide range of currency pairs, including majors, minors, and exotics.
The tight spreads and high liquidity make forex trading attractive to many traders.
Indices
It also provides access to various global indices, such as the S&P 500, NASDAQ, and FTSE 100.
Trading indices allows traders to speculate on the overall performance of a market or sector.
Shares
Traders can invest in shares of major companies across different industries.
It offers competitive conditions for share trading, making it a viable option for those interested in equity markets.
Commodities
Their commodity offerings include popular options like gold, silver, oil, and agricultural products.
These assets provide opportunities for diversification and hedging against inflation.
Cryptocurrencies
In response to growing demand, it has included cryptocurrencies in its asset lineup.
Traders can access major cryptocurrencies like Bitcoin, Ethereum, and Litecoin, benefiting from the high volatility and potential returns in this market.
Education and Support
The company places a strong emphasis on trader development, providing extensive educational resources and support services.
Educational Resources
The broker offers a range of educational materials designed to enhance traders’ skills and knowledge.
These resources include:
- Webinars and Workshops: Regular online sessions covering various trading topics, from basic strategies to advanced techniques.
- Trading Guides: Comprehensive guides on different aspects of trading, such as risk management, technical analysis, and market psychology.
- Video Tutorials: Step-by-step tutorials on using trading platforms, executing trades, and implementing strategies.
Support Services
The company provides excellent customer support, ensuring that traders receive timely assistance.
The support team can be reached via email, phone, or live chat.
Additionally, the firm’s website features a detailed FAQ section, addressing common queries and issues.
Community and Mentorship
FTMO fosters a sense of community among its traders.
The firm organizes events and forums where traders can share insights and experiences.
Additionally, it offers mentorship programs, pairing experienced traders with newcomers to provide guidance and support.
Advanced Features and Tools
FTMO offers several advanced features and tools to enhance the trading experience and support traders in their journey towards consistent profitability.
Expert Advisors (EA)
This broker supports the use of Expert Advisors (EA) on both MT4 and MT5 platforms.
EA are automated trading systems that execute trades based on predefined criteria.
This feature allows traders to automate their strategies, reducing the need for manual intervention and helping to eliminate emotional bias from trading decisions.
Custom Indicators
FTMO allows traders to use custom indicators on their trading platforms.
These indicators can be tailored to suit specific trading strategies, providing additional insights and enhancing analytical capabilities.
VPS Hosting
The broker offers Virtual Private Server (VPS) hosting services, ensuring that traders’ automated strategies run 24/7 without interruption.
VPS hosting provides a stable and secure environment for EA, reducing the risk of downtime and enhancing execution speed.
Risk Management Tools
FTMO provides a suite of risk management tools to help traders maintain control over their positions.
These tools include stop-loss and take-profit orders, trailing stops, and position sizing calculators.
By utilizing these tools, traders can better manage their risk and protect their capital.
Copy Trading
FTMO supports copy trading, allowing traders to follow and replicate the trades of experienced professionals.
This feature is particularly beneficial for novice traders looking to learn from successful traders or those who prefer a more hands-off approach to trading.
Performance Metrics and Reporting
They emphasize transparency and accountability, offering detailed performance metrics and reporting tools.
Trading Dashboard
FTMO’s trading dashboard provides a comprehensive overview of a trader’s performance.
Key metrics include profit/loss, risk levels, and trade history.
This tool helps traders monitor their progress and make informed decisions.
Performance Analysis
Their platform offers advanced performance analysis tools, enabling traders to review their strategies and identify areas for improvement.
These tools include:
- Trade Analytics: Detailed breakdowns of individual trades, highlighting profitable and unprofitable patterns.
- Risk Management Reports: Reports on risk exposure and compliance with their risk management rules.
- Monthly Performance Reviews: Regular reviews of overall performance, providing insights into trading behavior and outcomes.
Profit Sharing and Payouts
One of its unique features is its profit-sharing model.
Traders receive a significant portion of the profits generated from their funded accounts.
Profit Split
FTMO operates on a 70/30 profit split, with traders retaining 70% of the profits.
This model incentivizes traders to perform well, as their earnings are directly tied to their trading success.
Payout Process
FTMO ensures a straightforward and transparent payout process.
Traders can request payouts on a monthly basis, with funds transferred via their preferred payment method.
It does not charge any fees for payouts, further enhancing the trader’s net earnings.
Risk Management and Trading Rules
Their emphasis on risk management is a cornerstone of its approach.
Traders must adhere to strict rules to maintain their funded status.
Daily Loss Limit
The platform sets a daily loss limit to prevent excessive losses.
Traders must not exceed this limit, ensuring they manage their risk effectively.
Maximum Drawdown
A maximum drawdown limit is also enforced, capping the total losses a trader can incur.
This rule protects both the trader and the company from significant financial setbacks.
Trading Hours and Instruments
The company specifies acceptable trading hours and instruments for each account type.
Traders must comply with these guidelines to maintain their funded status.
User Experience and Interface
The broker prioritizes user experience, offering a seamless and intuitive interface across its platforms.
Website Design
Their website is well-designed, with a clean layout and easy navigation.
Information is presented clearly, making it accessible to traders of all experience levels.
Account Management
The account management system is user-friendly, allowing traders to manage their accounts, track performance, and request payouts with ease.
Mobile Trading
FTMO supports mobile trading through the MetaTrader apps, available for both iOS and Android devices.
These apps provide full access to trading accounts, enabling traders to monitor the markets and execute trades on the go.
Fees and Costs
Its fee structure is transparent and competitive, with no hidden charges.
Account Fees
This broker does not charge any fees for opening or maintaining an account.
This policy contrasts with many brokers who impose various account-related fees.
Trading Costs
As mentioned earlier, it offers very low spreads and does not charge commissions on trades.
This cost-effective structure is particularly advantageous for high-frequency traders and those trading large volumes.
Deposit and Withdrawal Fees
FTMO does not charge any fees for deposits or withdrawals, making it cost-efficient for traders to move funds in and out of their accounts.
Market Research and Analysis
The broker provides comprehensive market research and analysis tools to help traders make informed decisions.
Daily Market Updates
It offers daily market updates, covering major economic events, market trends, and technical analysis.
These updates are invaluable for traders looking to stay informed about market conditions.
Economic Calendar
The economic calendar on its platform highlights important economic events and data releases.
Traders can use this tool to plan their trading strategies around key market-moving events.
Technical and Fundamental Analysis
FTMO provides in-depth technical and fundamental analysis reports.
These reports cover various assets, offering insights into potential trading opportunities and market trends.
Customer Reviews and Feedback
FTMO has received positive feedback from its user base, highlighting its commitment to trader development and support.
User Testimonials
Traders appreciate their comprehensive support, educational resources, and transparent trading conditions.
Many have praised the firm’s profit-sharing model, which allows them to earn significant returns without risking their capital.
Areas for Improvement
While it receives high marks overall, some traders have noted areas for improvement.
These include the complexity of the account verification process and the limited payment methods available.
FTMO continues to address these issues, striving to enhance its services further.
Comparison Table
To provide a clearer picture of their offerings, below is a comparison table summarizing key features and services.
| Feature | FTMO |
|---|---|
| Leverage | Up to 1:100 |
| Minimum Deposit | $100 |
| Regulation | FCA, CySEC |
| Year Established | 2015 |
| Payment Methods | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller |
| Trading Platforms | MT4, MT5 |
| Spreads | Very Low (e.g., 0.3 pips for EUR/USD) |
| Commission | None |
| Trading Assets | Forex, Indices, Shares, Commodities, Cryptocurrencies |
| Account Types | FTMO Challenge, Verification, FTMO Account |
| Profit Split | 70/30 |
| Customer Support | Email, Phone, Live Chat |
| Educational Resources | Webinars, Workshops, Trading Guides, Video Tutorials |
| Security | SSL Encryption, 2FA, Regular Security Audits |
| Mobile Trading | Supported via MetaTrader apps |
| Deposit/Withdrawal Fees | None |
| Daily Loss Limit | Yes |
| Maximum Drawdown | Yes |
| Risk Management Tools | Yes |
Conclusion
FTMO stands out in the trading industry for its innovative approach, providing traders with the opportunity to trade substantial capital without personal financial risk.
The firm’s commitment to trader development, competitive trading conditions, and robust support services make it an attractive choice for both novice and experienced traders.
Their regulatory status and stringent security measures ensure a safe and transparent trading environment.
The firm’s focus on risk management, coupled with its generous profit-sharing model, incentivizes traders to perform well while maintaining financial discipline.
Overall, it offers a comprehensive and trader-friendly platform, making it a top choice for those looking to advance their trading careers.
With its continuous efforts to improve and innovate, FTMO is well-positioned to remain a leader in the proprietary trading space.
Visit official website: www.ftmo.comFAQ
What is the minimum deposit required?
The minimum deposit required is $100.
Is FTMO regulated?
Yes, the broker is regulated by FCA and CySEC.
What payment methods does it accept?
FTMO accepts Bank Transfer, Credit/Debit Cards, PayPal, Skrill, and Neteller.
Does FTMO offer a demo account?
Yes, it offers a demo account for practice trading.
Are there any fees for deposits or withdrawals?
No, the broker does not charge any fees for deposits or withdrawals.
What is the average cost for trading EUR/USD?
The average cost for trading EUR/USD is 0.3 pips.
Does FTMO support scalping?
Yes, it supports scalping.
Resources
User Reviews
Article written, edited and reviewed by
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Last updated: September 4, 2024
