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FTMO is a prop firm registered in the Czech Republic. It was established on May 1, 2017, and can be contacted through their official email address at [email protected]. The firm offers traders the opportunity to participate in the Two Phase Challenge, which consists of Phase 1 and Phase 2. Traders can trade in Forex, Crypto, and CFDs asset classes using popular trading platforms such as MT4 and MT5.
The Two Phase Challenge has specific rules and targets. In Phase 1, traders have 44 days to achieve a profit target of 10%. If successful, they advance to Phase 2, where they have an additional 60 days to achieve a profit target of 5%. Risk management is crucial, as traders must ensure that their drawdown does not exceed 10% of the trading account’s peak value. Additionally, there is a daily drawdown limit of 5% to control losses within a single trading day.
FTMO provides various funding capital options for traders, including $10,000, $25,000, $50,000, $100,000, and $200,000. The firm also offers instant funding with a maximum allocation of $400,000, which can be increased to $800,000 after scaling. Scaling can be achieved by growing the account by 2.5% monthly for four consecutive months or achieving an overall 10% growth within a four-month duration, resulting in a 25% account scaling.
While High-Frequency Trading (HFT) is not allowed, copy trading, hedging, and the use of Expert Advisors (EA) are permitted at FTMO. Traders can reach customer support through the Live Chat feature. The firm offers free trials and allows free retries. However, traders from Israel, North Korea, Pakistan, and Russia are banned from participating. FTMO does not organize competitions.
FTMO provides traders with an opportunity to showcase their trading skills and achieve funding for their trading accounts through the Two Phase Challenge.
