Overview of FTMO Forex Prop Firm
TheTrustedProp
Date: April 28, 2024
Are you an aspiring trader looking to step into the world of professional trading? FTMO could be your gateway to success. In this article, we will delve into the details of FTMO, a unique modern prop trading firm that has been making waves in the trading industry since its inception in 2015.
Company Overview
- Name: FTMO
- Legal Name: FTMO
- CEO: Otakar Suffner
- Founded: 2015
- Registered: Prague, Czech Republic
The FTMO Challenge
FTMO offers a distinctive two-step Evaluation Process designed to unearth trading talents. The first step is the FTMO Challenge, a rigorous assessment of your trading skills and discipline. To advance to the next stage, you must succeed here by proving your ability to meet the trading objectives.
Verification - Step Two
The second step is Verification, where your trading results from the FTMO Challenge are scrutinized. Upon successful completion, you are offered the opportunity to trade on an FTMO Account.
FTMO Trader - The Ultimate Achievement
Becoming an FTMO Trader is the pinnacle of success. With an FTMO Account in hand, you can trade responsibly and consistently, earning up to 90% of your profits. If you consistently generate profits on your FTMO Account, the company can scale your account according to their Scaling Plan.
Account Sizes
FTMO offers various account sizes to cater to your trading preferences and goals:
- $10,000
- $25,000
- $50,000
- $100,000
- $200,000
Key Highlights
Swing Account
For those who prefer flexibility, FTMO offers the Swing Account, which allows you to hold positions over the weekend or trade during macroeconomic releases without restrictions.
Scaling Plan
FTMO values long-term relationships with its traders. If you can demonstrate consistent profitability, they will increase the balance of your FTMO Account by 25% every four months, following their Scaling Plan.
Free Trial
Curious but not entirely sure? FTMO offers a Free Trial account, a condensed version of the FTMO Challenge with the same trading conditions. It's an excellent opportunity to dip your toes in and experience what FTMO has to offer.
Payout System
FTMO Traders enjoy a default payout ratio of 80:20. However, you can request a payout on-demand, with processing as soon as 14 days. Moreover, you have the freedom to choose your Profit Split Day, offering flexibility that suits your needs.
If you meet the conditions of FTMO's Scaling Plan, not only will your account balance increase by 25%, but the payout ratio will also automatically change to an impressive 90:10!
Trading Platforms
FTMO provides access to some of the most popular retail trading platforms, including MetaTrader 4, MetaTrader 5, DXtrade, and cTrader. These platforms are powered by data feeds directly from prime liquidity providers, ensuring a trading experience that closely simulates real market conditions.
More Than Just Trading
FTMO offers more than just a trading platform. They provide a range of tools and support to help traders succeed:
Custom Trading Apps
FTMO has developed several apps to assist traders with discipline, journaling, and market analysis, ensuring you have the resources you need to thrive.
Account Analysis
Receive unbiased feedback on your trading results. FTMO's Account Analysis helps traders of all levels improve their strategies.
Exceptional Customer Support
Communication is key, and FTMO prides itself on its responsive and multi-lingual Customer Support team. They are there to assist you through every step of your trading journey.
FTMO Academy
Education is crucial to trading success. FTMO offers a free FTMO Academy that provides both basic and advanced knowledge to support your growth as a trader.
Performance Coaching
Overcome bad habits and unwanted behavior with the help of qualified Performance Coaches. They will guide you towards better trading results through mutual cooperation.
FTMO's Mission
FTMO is not just a trading firm; it's an international investment company in the making. Their mission is to create a global community of successful retail traders and offer investors the opportunity to invest in a portfolio of traders of their choice.
Where to Find FTMO
You can locate FTMO on the top floor of the modern Quadrio offices in Prague's historic center. The building even boasts a shopping mall accessible by elevator. Their rooftop features a large terrace with stunning views of Prague, making it a great place to relax.
Join the FTMO Community
FTMO is built on the foundation of talent and cooperation. Their team is committed to helping traders succeed, providing excellent customer care, creating an ideal trading environment, and offering top-notch education. Join FTMO and embark on your journey to financial independence.
Unlock your trading potential with FTMO. Join today and take your trading journey to the next level.
FAQs
1. Which platforms can I use for trading on FTMO?
You can trade your FTMO Challenge, Verification, and FTMO Account on popular retail platforms, including MetaTrader 4, MetaTrader 5, DXtrade, and cTrader.
2. Can I trade news on FTMO?
During the FTMO Challenge and Verification, you can trade freely during all news releases. However, once you become an FTMO Trader, you should be cautious when trading during news releases.
3. Do I have to close my positions overnight on FTMO?
In the FTMO Challenge or Verification, you don't have to close your positions overnight. However, FTMO Traders with an FTMO Account must respect market timings.
4. Which instruments can I trade on FTMO, and what trading strategies are allowed?
You have the freedom to choose your trading style and strategies on FTMO, as long as they adhere to proper risk management and real market conditions. There are no strict limitations on the instruments you can trade.
5. What is the FTMO Scaling Plan, and how does it work?
The FTMO Scaling Plan allows traders to increase their account balance by 25% every four months, provided they meet specific criteria. This plan is designed to reward consistent profitability.
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