FTMO, or Forex Traders Money Office, is a proprietary trading firm established with the primary goal of discovering talented traders. They offer a unique funding program for forex traders, commonly known as “The Challenge.” This is an opportunity for traders to prove their trading skills and get funded with up to $100,000. Their program is distinguished by its trader-friendly conditions, including profit share, free educational content, and no restrictions on trading strategies.
Features
FTMO offers several features that make it a popular choice among traders. Here are some key features of FTMO:
- Trading Challenge: FTMO’s trading challenge is the first step towards becoming a funded trader. Traders are provided with a simulated account and must meet specific profit targets and risk management criteria within a defined timeframe.
- Funding Program: Once traders complete the trading challenge, they can join FTMO’s funding program. Traders receive a funded account with real capital to trade, and they can keep a significant portion of the profits generated.
- Multiple Funding Levels: FTMO offers different funding levels to accommodate traders with varying experience and risk tolerance. Traders can choose from different capital allocations based on their trading goals and strategies.
- No Risk of Personal Funds: One of the advantages of FTMO is that traders don’t risk their capital during the trading challenge or in the funded account. This aspect provides a level of security and peace of mind to traders.
- Transparent Evaluation: FTMO’s evaluation process is transparent and objective. Traders know exactly what criteria they need to meet to pass the challenge and progress to the funding stage.
- Professional Trading Tools: Traders in the FTMO program have access to professional trading tools and resources, including advanced charting platforms, indicators, and market analysis tools. These tools can enhance trading efficiency and decision-making.
- Educational Resources: FTMO provides educational resources and support to help traders improve their skills and knowledge. Traders can access webinars, training materials, and mentoring programs to enhance their trading abilities.
- Profit Sharing: Traders in the FTMO funding program receive a substantial portion of the profits they generate. The profit-sharing arrangement varies depending on the chosen funding level, allowing traders to benefit directly from their successful trading performances.
- Dedicated Support: FTMO offers dedicated support to its traders. They have a team of experienced professionals who can assist with any questions or issues that may arise during the trading process.
- Community and Networking: FTMO provides a platform for traders to connect and interact with fellow traders in their community. This allows for knowledge sharing, networking opportunities, and learning from others’ experiences.
It’s important to note that the features mentioned above are based on general information available about FTMO. For the most accurate and up-to-date information, it is recommended to visit FTMO’s official website or contact their customer support.
Company Overview
FTMO was established in 2014, with headquarters located in Prague, Czech Republic. It was founded with the vision of helping prospective Forex traders move past the common obstacles preventing them from successful trading. By offering a proprietary trading platform, FTMO presents an innovative solution wherein traders do not risk their capital but still have the opportunity to trade with significant funds and keep most of the profits. The company has rapidly gained a reputation as one of the leading proprietary trading firms globally, attracting talented traders with its unique business model and trader-friendly conditions.
Trading Challenge
The Trading Challenge is FTMO’s unique method of assessing traders’ skills and prowess. Prospective traders receive a demo account with a predefined capital and have 30 days to meet various objectives. These include a certain profit target, as well as strict risk management rules like a maximum daily loss and a maximum loss cap. Traders are required to trade for at least ten days during the challenge, ensuring they demonstrate consistency in their trading approach. This challenge is not only a test of trading skills but also an examination of discipline, risk management, and emotional control. Completing the challenge proves that a trader has the required skills to manage a larger FTMO Funded Account. The Trading Challenge is an effective screening process that ensures only the most competent and disciplined traders proceed to the funding stage.
Funding Program
The Funding Program is the next stage for traders who complete the Trading Challenge. In this phase, traders are given a real account funded by FTMO, with capital up to $100,000 based on their chosen funding level. The significant aspect of this program is that traders do not risk their funds. Instead, they trade with FTMO’s capital and are entitled to keep 70% to 80% of the profits depending on the account size. This unique model helps traders to build their trading careers without the stress and financial risk usually associated with such ventures. FTMO also provides continuous support and professional trading tools to assist traders in their journey. With the Funding Program, FTMO establishes a win-win situation, where the company benefits from successful trades, and the traders get a substantial share of the profits along with valuable experience and growth opportunities.
User Reviews
User reviews are an integral part of understanding the practical experience and satisfaction level of traders who have engaged with FTMO. On various online trading forums, FTMO has generally received positive feedback for its innovative funded trader program. Many users have expressed appreciation for the unique opportunity to trade without risking their capital and the professional support offered by the company. The comprehensive educational resources and trading tools provided by FTMO have also been commended by many traders. However, some users have highlighted the rigorous nature of the trading challenge as a potential drawback, as it requires discipline and consistent trading skills to pass. Despite this, the consensus among users appears to be that FTMO offers a valuable platform for traders to elevate their trading careers while minimizing personal financial risk.
The Review
Summary
In summary, FTMO is a proprietary trading firm that helps traders build their trading careers risk-free. It offers an innovative funded trader program that allows traders to trade with significant capital and keep the majority of the profits they generate without risking their funds. The company has developed a rigorous screening process where prospective traders must complete the Trading Challenge before being admitted to the Funding Program. Reviews from users have been generally positive, highlighting the unique opportunity to trade without personal financial risk and the quality of support offered by FTMO. With its groundbreaking business model, FTMO is revolutionizing the way traders develop their trading skills and earn profits.
PROS
- Risk-free trading opportunity
- Profit-sharing model with up to 80% of profits retained by the trader
- Dedicated support team
- Comprehensive educational resources and trading tools
CONS
- Strict challenge requirements that require discipline and consistent trading skills
