A global proprietary trading firm, FTMO was established in the Czech Republic in 2014. When traders join the platform and complete a two-step testing process, FTMO sends $400,000 to the trader’s account. FTMO Trading keeps an eye on transactions to increase the deposit.
At the beginning of actual trade, there is an 80% payment; at each succeeding level, there is a 90% payment. The business is governed by the regional regulator and operates strictly with European financial regulations.
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What Is FTMO?
A project called FTMO is searching for seasoned traders. We created a 2-step review process to determine whether a trader possesses all the attributes we look for. The FTMO Challenge and the Verification are the two steps in this process. The course is specially designed to help traders find their hidden talents.
Our instructional programs, account analysis, and performance coach are available to help our traders through the challenging trading route. Traders who complete the training can work for the FTMO Proprietary Trading company. They can continuously grow the account according to our Scaling Plan and remotely manage up to 400,000 USD. You have the right to keep up to 90% of your profits as an FTMO Trader.
Advantages of Using FTMO Trading:
- The cost of the exam is about €155.
- Many traders are accustomed to traditional platforms like MT4, MT5, and Ctrader.
- Numerous indicators, scripts, and counselors have been created for these sites.
- 90% of the profit made after passing the test represents the trader’s potential profitability. The initial payout is 80%.
- The variety of tariff plans. Candidates can select a demo deposit between 10,000 and 200 000 US dollars. Tariff plans range from conventional to aggressive trading.
- Leverage can reach 1:100.
The Disadvantage of FTMO Trading:
- Stringent conditions for the test period. 10% of the deposit amount is the maximum loss permitted. 10% is the intended profit, and one month is given.
- Instead of just one testing phase, there are now two, and a trader must put in three months of labor rather than just one.
- The source of the company’s funding is unknown.
FTMO is a dummy company that offers harsh testing conditions, appealing conditions for traders who want to enter the actual world of trading, and trading experience.
Is FTMO The Right Choice for Forex Traders?
For forex traders, FTMO is undoubtedly the best option. They are the market leader for funded accounts, enjoy great credibility, and have fair pricing. The review provides insightful opinions on every aspect of FTMO and thoroughly explains the evaluation procedure.
How Can I Become an Effective FTMO Trader?
A precise understanding of the rules, exceptional abilities, and discipline are necessary to become a successful FTMO trader. The review aims to provide you with a comprehensive experience of the costs, platforms, and rules through user-perspective insights.
What Is a Forex Funding Program?
Funded trading enables traders to make money by trading the capital of other businesses without endangering their trading accounts. The trader establishes a relationship with a company that offers this program and, in some situations, is permitted to retain up to 90% of earnings made. You must first pass some tests to receive a forex-funded account.
You must submit to an evaluation process per the standards established by the prop firm to demonstrate your competence as a forex-sponsored trader. You will be qualified for funded traders from the firm’s capital if you satisfy all the prerequisites. The company will then complete the remaining formalities, freeing you to concentrate on trading.
Is Trading With Forex Funds Worth It?
The typical annual compensation for a Funded Trader in the United States is $87,863, and the predicted total pay for one is $124,680. All traders should attempt forex-sponsored trading at some point during their careers because it is a profitable, low-risk endeavor.
Conclusion
The best option for forex traders is FTMO. They have a strong reputation and a fair price structure and are the market leader in financed accounts. The review thoroughly describes the evaluation method and addresses every aspect of FTMO from several viewpoints. FTMO is a managing prop company that operates on the same tenets as a prop company. A prospective trader must pass a two-stage active trading test to be given money under management. At each stage, requirements are established for the maximum permitted daily loss, total loss, and desired profit level.