November 21

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Is FTMO a great trading company for forex traders?


FTMO offers a range of trading instruments, including commodities, indices and cryptos. There are also multiple platforms like MetaTrader 4 and MetaTrader5. After completing the verification process, traders can start trading. They can also keep up to 80% of their profits. The largest single payout by FTMO was more than $40,000.

How it works

FTMO assesses the skills and qualifications of potential traders using a two-step process. The first is the FTMO Challenge and the second is the Verification.

After the process is completed successfully, users will be offered a professional account. Remote traders can also continue to grow the account according to the scaling plan.

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Technically, users can trade on a demo account during all stages of the trading process. This includes professional traders. The FTMO account can be linked to the firm’s real capital live trading account. This is the guide for getting started with FTMO review.

1. Select Your Account

Account types can be broken down according to risk level and capital level. After you’ve decided on the plan that is right for you, you can choose a currency and sign up to open an account.

2. Select Your Platform

FTMO is available for MT4, MT5 or cTrader. MT4 & MT5 can be downloaded to your desktop. The webtrader for prop firms is also available on your desktop without requiring a download.

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3. Get involved in the FTMO Challenge

You must complete the evaluation before you can generate profits. Step 1 is the FTMO Challenge. A fee will be charged depending on the level of capital and risk you choose. This one-time fee will be refunded once you have made your first profit.

If you are interested in trying the product before purchasing, you have the option to get a free trial. The 14-day trial allows you to get a taste of the Challenge, and it also gives you the opportunity to improve your skills.

4. Follow Trading Objectives

To move on to the next stage, each account type will have its own rules. These objectives include a maximum trading time (30 days), minimum trading period (10 days), and profit targets.

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You can move on to the next stage if you meet the profit target within the maximum trading period. You will be granted a second chance to complete this challenge if you fail to reach the profit target, but you don’t violate any other rules like the maximum daily loss.

5. Verification

Verification is the second stage of the process. Verification is the second step of the process. This is where you will need to prove yourself again. However, it’s completely free. Within a few days of completing the FTMO Challenge you will receive your Verification log details. The rules for verification are the same as the Challenge. However, there is a maximum trading period of 60 days and a profit target of half.

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6. Become a Funded Professional Trader

After you have completed the evaluation, you can start investing professionally with the FTMO proprietary trading company.Professional traders must adhere to the same loss rules as professional traders. However, there are no maximum trading periods, no profit target and no minimum trading days. Professional users retain 70% of the profits they make on their accounts.

Your positions will be copied to the live investing account of the proprietary trading firm with real capital.

7. Scaling Plans

Profitable traders can take advantage of FTMO’s growth plan to receive a 25% capital boost every four months. You must have at least 10% profit in the past four months, with at least two of the four ending positively.

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Scaling plans have no limit – after a year and half of trading success, you could manage up to 600k.

➔     What is the Maximum Money I Can Make?

Forex traders with fully funded accounts get monthly payments based on how they perform in the market. The amount of money you can make from a funded trading program will depend on many factors including your trading performance, strategies and other factors. It also depends upon the type of funded trade program you choose. It is important to understand the rules of trading accounts when looking at different funded trading programs.

➔     Are Funded Trading Programmes Reliable?

Funded trading programs are very reliable if you choose the right company. This is still a new model in the industry. The program quality can vary from one company to the next. Some companies may also try to scam customers out of greed. It is highly recommended to do your research and be thorough.

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FAQs

What is a fund trader program?

Participation in a funded trader programme can give support to talented traders. Participation in a funded trader program involves paying a fee (refunded only if successful) as well as an evaluation period. A trader will be granted a funded account after completing the evaluation metrics.

Can I become a fund trader?

Companies usually require an evaluation phase to assess traders’ capabilities. For those who achieve their profit targets, funds are given to the best funded trader accounts. Some companies offer funds that are immediately funded in exchange for higher participation fees.

How can funded traders companies make money?

Fund traders are made rich by companies that take a cut from their profits. It can vary from one company to the next.

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