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Today I’m analyzing a service that provides tools, education and potential funding for traders that can prove their trading skills, FTMO. The benefit of being part of the community, is that traders can use the company’s capital, while receiving 70% of the profits and not having to pay for any of the losses. The only other Forex trading service we’ve seen with a similar approach, is Earn2Trade.
Owned and operated by FF trader s.r.o with identication number 03136752. They are located at Opletalova 25, 110 00 Prague, Czech Republic, and can be contacted via email support@ftmo.com, phone +420 773 010 372 or Skype ftmo.com.
Contents
FTMO Trading Review
The main reason for signing up with the FTMO trading course is for the tools and the funding. In order to receive funding, traders first have to prove their trading skill, by completing a 30 day simulated trading accounts challenge. During this challenge the trader has to meet certain risk management objectives, but the trading style is completely up to each individual and there are no additional limitations on the instruments or position sizes that are traded. The trading performance is always measured based on the “trading objectives.”
FTMO Funding Process
The objectives consists of the minimum trading days, positive days, maximum daily loss, maximum loss and overall profit target. In order to successfully pass the challenge traders have to meet these objectives. If an objective is not achieved, the trader fails the Forex trading course, and forfeits the €155-€540 challenge fee.
To be more specific, let’s look at the $10,000 initial capital objectives. In order to pass this challenge, traders need to trade for a minimum of 10 days during a 30 day period, with 50% of the days showing positive returns. Traders also have to keep their maximum daily loss below $500, the maximum loss on the account below $1000 and hit a profit target of $1000 over the course of the month.
Breakdown
Type: Forex Funding, Tools & Education- Price: €155-€540
- Tools: 5
- Compatibility: MT4, MT5, cTrader
Despite the fact that traders complete the challenge on a demo account, the FTMO group charges a challenge fee which ranges between €155-€540, depending on the initial capital chosen. $10,000 initial capital costs €155, $25,000 initial capital costs €250, $50,000 initial capital costs €345 and $100,000 initial capital costs €540. The amount of funding the trader gets is in direct correlation with the initial capital they choose. So, if it trader chooses $100,000 initial capital, that’s the amount of funding they look to gain if they successfully passed the challenge.
If you don’t succeed, FTMO takes the money, and you can try again. It’s a pretty solid business model, considering that most Forex traders are unsuccessful, and even though the trading objectives don’t seem difficult at first glance, they certainly are.
Tools, Education & Training
The FTMO challenge wants the traders the take part in their Forex funded programs to succeed, because the more successful clients they accrue, the more money they make. In order to help traders succeed in the challenge, they have included a handful of different tools built to help traders better analyze their approach, and make the necessary adjustments in order to meet the trading objectives.
The program comes with an Account MetriX tool which is “an innovative and unique web application,” used for monitoring progress. This tool doesn’t look that in depth, and isn’t something you can’t get from a normal Myfxbook account upload. There is also a statistical application, which does different mathematical calculations to help traders make better entry and exit decisions. The next tool is a mentor app, which is built specifically to enforce rules and risk limits. Then, there is a trading journal to help traders report their wins and losses. Lastly, is the account analysis tool which is built to help traders take a close “unbiased look at their trading results.”
None of the tools seem overly impressive, but it is an important fact to recognize that the developers of this Forex funding program does want their clients to pass their challenge.
Client Feedback
There isn’t too much in terms of client feedback at this point in time. What I’m most interested in, is finding some traders that have successfully completed the challenge and are now funded, but there is really no verifiable proof of this. There is a thread on Forex Factory, but despite going through many of the pages, I haven’t had much luck in finding many real traders with their funding program.
Conclusion
Despite doing a fair bit of analysis and research, I still sit on the fence when it comes to the FTMO challenge. In order to know if this is a viable Forex funding process, I need to see more real clients that have successfully passed through the challenge. There are a few comments being made in the forums, but I would like to see verifiable proof in terms of Myfxbook accounts or something similar.
Please let me know what you think of our FTMO review by leaving a comment or question below the article now.
You are paying for the opportunity to receive access to capital you wouldn’t otherwise have.
If you pass the fee is refunded in full with the first profit withdrawal
Is it easy? No – but it is fair and FTMO pays and if you break the rules set out then you went in knowing you would forfeit the fee – it isn’t a charity or a free for all.
Just do a search on Youtube – there are video proofs of traders being funded and withdrawing.
FTMO is legitimate.
I know one successful trader who send me the link to FTMO he said, he started full time trading thanks to FTMO, You can find him as @pipsniper on Instagram, his name is Cody from California USA. Try to contact him and let us know if it is real.
Is there any document thats shows there are some traders make some profits and this is real if there were they would share in the website they know %90 percent people lose money so they keep your fee instead of u losing it in hour own real account.
Hi Kadir, it would certainly be interesting to see some traders that have made it through the program.
Hello Celina, thanks for the comment. Let me just correct you here as traders don’t give 70% away, but they keep 70% of the profits they generate. The FTMO project is an investment based program where the investor/company take 30% only.
The trader keeps full 70% and FTMO keeps 30%. This profit split is more than generous and definitely above the industry standards.
FTMO looks for serious traders, so if you trade and fail the rules, the only money you lose is your initial fee and not your own capital. This is covered by the company.
Obviously, to ascertain trader’s capability to control company money is done on demo accounts only during the testing period. Once successful, trader is trading real live account.
The initial fee is refunded to trader with his/her first profit withdrawal.
This is a very interesting proposition, but I don’t see how a higher funded account would benefit me that much when I’m giving 70% away.
Plus, I would be really pissed if I went through their challenge and lost.
Who wants to lose money while trading a demo account? Nobody!
But Pavel has clarified that its the trader that keeps the 70%.????????