- Excellent Trustpilot rating of 4.8/5
- Try it for free
- Dashboard for professional traders
- The CEO openly speaks in public
- A large variety of trading instruments (Forex pairs, commodities, indices, stocks, cryptocurrencies)
- Account currencies USD, GBP, EUR, CZK, CAD, AUD and CHF
- Leverage up to 1:100
- There is no maximum trading time
- Scale expansion plan
- Premium program
- First payment after 14 days
- Payouts every two weeks
- Profit sharing from 80% to 90%
- Overnight & weekend holding allowed
- Exchange free account
- Withdrawal based on balance
- Approach trading psychologists
- Minimum trading day requirement is 4 days
- No transaction news
- Expensive
I. Prop firm information
What is FTMO?
FTMO is a proprietary trading company with the legal name FTMO Evaluation Global sro founded in September 2015. They are headquartered in Prague, Czech Republic and are being managed by CEO Otakar Suffner.
FTMO offers traders the opportunity with a 2-round review challenge with no review time limit
Who is the CEO of FTMO?
Otakar Suffner is CEO of FTMO, born and raised in Prague. He believes that a university degree is not a requirement to become a good trader or businessman, although it is helpful. Otakar has a master's degree in Economics from the University of Prague and studied abroad at Seoul National University in South Korea.
Otakar is passionate about sports and played tennis when he was growing up but was not good enough to pursue a professional career. Currently, he plays sports 3-4 times a week, mainly gymnastics, calisthenics and kickboxing.
Otakar's journey as a trader started almost a decade ago when he traded Futures and then moved on to Forex and CFDs. With a passion for statistics and probability, he focuses on creating unique trading ideas
Contact Info
Website: https://ftmo.com
Email: support@ftmo.com
Phone : +44 2033222983
Address: Purkyňova 2121/3, Nové Město, 110 00 Praha 1, Cộng hòa Séc.
Note: To receive the fastest support from FTMO you should chat directly on their website.
II. Prop firm Products
Currently, FTMO offers a unique account type that has 2 rounds of challenges during the evaluation period.
For FTMO account, you can choose Swing and Normal mode. When you choose Swing mode, your account will have lower leverage, but you can trade more comfortably. For details, see the table below:
FTMO account funding process
1. Evaluation phase
During the evaluation phase, you need to pass 2 rounds of challenges with the following requirements:
Round 1 (Step 1)
– Profit target is 10%
– Minimum number of trading days is 4 days
– Unlimited time
– Daily decline limit is 5%
– Account decline limit is 10%.
Round 2 (Step 2)
– Profit target is 5%
– Minimum number of trading days is 4 days
– Unlimited time
– Daily decline limit is 5%
– Account decline limit is 10%.
Limit account decline
– Is $10,000 (10% of initial capital) and $5,000 (5% of initial capital)
– In any case, you are not allowed to let your account Equity fall below $90,000, otherwise it will lead to a violation and you must not lose more than $5,000 per day.
– The daily drop limit will be reset every time a new day passes
How is FTMO different from other support companies?
2. Funding phase
After completing the evaluation period, you will perform KYC verification and sign the trading agreement before receiving account funding.
The two main rules you need to keep in mind are:
– Daily decline limit of 5%.
– Limit account decline of 10%.
You will receive 80% of the profits you generate on your funding account.
III. Frequently asked questions
Can I pay the fee for FTMO using Crypto (cryptocurrency)?
Yes, detailed instructions can be found here.
What is FTMO’s consistency score?
Information about FTMO's consistency score can be found here.
What types of trading does FTMO consider as gambling?
FTMO's policy on gambling trading can be found here.
What is FTMO's Premium Program?
This program offers many privileges for FTMO traders, details can be found here.
What documents do I need to provide for verification/KYC?
After passing the evaluation phase, you need to perform KYC, and you need to prepare the following 2 types of documents:
- Identification documents: Citizen ID card, Driver's license, or Passport.
- Address verification documents: Utility bills (electricity bill, water bill, internet bill...) or Bank statements, these documents must be issued no more than 3 months ago.
What is the maximum allowed inactivity period for an account?
You are allowed to start trading as soon as you receive your account information.
If after 30 days from receiving your account information you have not made any trades, the account will be suspended.
At this point, you need to contact FTMO via email at support@ftmo.com within 6 months from the suspension date to be issued a new account. If not, you will lose the account.
Am I allowed to trade using EA (Expert Advisor)?
You can use EA for trading.
However, you need to ensure that the EA performs your own trades. Using third-party EAs could result in your account being terminated due to a violation of the copying trade rule.
Can I copy trades?
You are allowed to copy your own trades.
You can copy trades from accounts funded by other companies, personal accounts, or any external sources as long as those accounts are owned by you.
Copy trading services, copying trades from others are not allowed.
When I reach the profit target, can I trade with a volume of 0.01 to meet the remaining minimum trading days?
Yes, you are allowed to do so.
What trading strategy can I use?
FTMO does not have any limits or restrictions on trading strategies, whether discretionary trading, quantitative trading, algorithmic trading, or automated trading using EA software.
As long as your trades are legal and comply with the rules.
Can I hold trades overnight or over the weekend?
FTMO Swing Account
With this account, you can hold positions overnight, over the weekend, and there are no news trading restrictions at any stage.
FTMO Account
In the evaluation phase, you are allowed to hold trades overnight, over the weekend.
In the funding phase, you must close trades before the market closes at the weekend or during the market rollover period (the time between the market close of the previous day and the market open of the next day) which lasts longer than 2 hours.
Can I trade the news?
Evaluation Phase
Please note that during the evaluation phase, there are no news trading restrictions applied to both FTMO and FTMO Swing accounts.
Funding Phase
There will be no restrictions on the FTMO Swing account.
For the FTMO account, you are not allowed to open any new trades or close any existing trades (opened beforehand) within the 2 minutes before and after the news release.
For example:
If important news is released at 19:00, from 18:58 to 19:02, you are not allowed to open any new trades. Existing trades, pending orders should not hit SL (Stop Loss) or TP (Take Profit).
If any trades are opened or triggered by SL or TP during these 4 minutes, it will be considered a violation.
You can trade EURGBP or AUDNZD during the NFP (Non-Farm Payroll) news release.
However, you cannot open or close USDJPY or GBPUSD trades within 2 minutes before and after the news release.
Who is the FTMO Swing account suitable for?
The FTMO Swing account has no restrictions on trading during news releases, holding trades overnight, or over the weekend.
This account is suitable for long-term traders, those who need to hold trades for several days, weeks, or traders trading on timeframes from H1 and above.
In the funding phase, can I switch from an FTMO account to an FTMO Swing account?
FTMO allows you to switch from an FTMO account to an FTMO Swing account before each new trading cycle.
In other words, you can request to switch to an FTMO Swing account after each profit split or after signing the agreement with FTMO and before making any trades on the account.
To request a switch to a Swing account, send an email to support@ftmo.com.
If I fail in the evaluation phase (stage 1, stage 2), does FTMO offer any discount for re-trying?
No, there will be no discount, you need to pay the fee as initially to participate in the next funding challenge.
What products can I trade?
You can trade all products available on the trading platform such as currencies, indices, commodities, stocks, cryptocurrencies, etc.
Where can I see the leverage of the products?
To see the leverage of each product, click here, then find the product by category and see the information section.
Can I merge my funded accounts?
Yes, you are allowed to merge funded accounts, the maximum capital for a merged account is $400,000.
What payment methods can I use to pay the FTMO fee?
You can pay the FTMO fee via bank transfer, Credit/Debit card, Skrill, or Crypto.
When will I receive my account after paying for my FTMO challenge?
After successful payment, you will receive the account immediately.
You can access the login information from the client area to get the account information.
Can I use someone else's card to pay the fee?
Yes, you can do that.
When there is a promotion, how long will the promotion remain valid in the cart?
After 14 days, if you do not pay within 14 days, the promotion will expire.
Can I open multiple user accounts by borrowing information from relatives?
No, you are not allowed to do that, FTMO prohibits this.
Withdrawal Policy
Profits are paid out monthly, starting 30 days from the first trade on the funded account.
You can request early withdrawal after 14 days from the start of the 1-month trading cycle, as long as the account is profitable. The profit split day can be changed up to 3 times within the period from day 14 to day 60 from the start of the trading cycle.
If no change is requested, the last day of the trading cycle will be the default day.
For example: If you start trading on 02/02, you can withdraw profits as early as 16/02 and as late as 31/03 (60 days from the start of the trading cycle).
The fee will be refunded on the first withdrawal, through the method you used to pay FTMO.
You can receive your profits via:
- Bank transfer.
- Skrill wallet.
- Crypto: BTC (Bitcoin network), LTC (Litecoin network), USDT (TRON network).
Payments will be processed within 1-2 business days.
Capital Expansion Policy
Specifically, accounts are reviewed every 4 months, to be eligible for capital expansion, the account must meet the following conditions:
- In 4 months, the account must grow at least 10% (an average of 2.5% per month).
- 2 out of 4 months must be profitable.
- The 4th month must be profitable.
- When meeting these conditions, the account will be expanded by 25% compared to the initial capital.
For example:
Funded account $100,000.
- First expansion: $100,000 + $25,000 = $125,000.
- Second expansion: $125,000 + $25,000 = $150,000.
The maximum capital expansion for an FTMO account is $2,000,000.
Accounts with expanded capital have a very attractive incentive, the profit-sharing ratio is increased from 80% to 90%.
Which broker does FTMO use?
FTMO does not trade with any popular broker brands. They cooperate with a Tier 1 liquidity provider that simulates the best market trading conditions.
As for the trading platform, when you work with FTMO , They allow you to trade on MetaTrader 4 , MetaTrader 5 , cTrader or DXtrade .
Which products am I allowed to trade?
Transaction fees
Reviews On Trustpilot
IV.Account registration process
Choose your account – Choose your account currency, account size, account type and trading platform
Conclude
In summary, FTMO is a reputable and trustworthy proprietary trading firm that offers a unique funding program called the Evaluation Program.
The 2-Step Evaluation Program:
- Process: Complete two phases before qualifying to manage a funded account.
- Profit Targets: 10% in phase one, 5% in phase two.
- Risk Rules: Maximum daily loss of 5% and total loss of 10%.
- Time Limit: No maximum trading days required, but a minimum of 4 trading days per phase.
- Profit Sharing: 80% to 90%.
- Benefits: Scaling plan to increase the initial account balance.
Key Features of FTMO:
- Unlimited trading time.
- First withdrawal after 14 days.
- Payments every two weeks.
- Exclusive premium program.
FTMO is one of the leading support firms in the industry, catering to various trading styles
Let us know if you enjoyed our detailed FTMO review by joining the group below!
What is your personal opinion about FTMO and the services they provide? Do they suit the trading conditions and services you are looking for?
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CONTACT US
If you have any questions or concerns, please contact us via the following information:
- Email address: tradequyofficial@gmail.com
- Điện thoại: +84925.012.777 - +8429.9999.3333
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