ftmo trading operates in the same way as most prop companies. First, the FTMO review will confirm that you are an experienced trader. Prop trading companies have various needs and trading objectives.
You must meet the FTMO standards in order to pass. You must achieve profit goals of about 10% for the vast majority of accounts. The prop business will provide trading funds for you. Another choice is the size of your account; most people choose between $10,000 and $200,000.
You can register as an official FTMO trader and engage in professional investing after passing the examination. Trading can be profitable. The more successful you are, the more money you’ll earn. 80% of profits are divided at the start for funded traders. FTMO will raise that amount to 90% if your profit targets are reached. Traders who receive payouts can get access to them through Skrill, direct deposit, or a cryptocurrency.
In the event that you go over the maximum loss limit, your FTMO account may be automatically cancelled. You will need to build up a trading account and repeat the evaluation procedure.
As opposed to other prop businesses, FTMO does not engage in direct trading on the financial markets. Traders have access to demo trading accounts for all time. Your trading strategies ought to work just fine with this. You can continue to get your earned profits.
You will receive a small one-time refund if you pass the examination.
largest profit split distributions in the sector. The payouts for new traders are 80%, but if they meet their trading objectives, there is a chance for a 90% increase.
Using cutting-edge tracking technology, both experienced and new traders can meet their goals and control their risks.
Even if they succeed in the FTMO Challenge to become fully funded traders, all FTMO traders are still using demo accounts. Your trades may be carried out away from the actual market.
Forex traders find the two-step evaluation process tedious and time-consuming because it involves many steps and difficulties.
For the first stage of the FTMO Evaluation, the profit target is a constant 10%, but it gradually decreases to 5% for stage 2.
FTMO conducts business in a similar manner to other prop firms. You can register as an official FTMO trader and engage in professional investing after passing the examination. Select the size of the account you want to open first. After that, FTMO will finance you. Most fall in the $10,000–$200,000 range.
The FTMO Challenge and the Verification are the two key phases needed to complete the FTMO evaluation procedure. Traders are given a place in the FTMO trading business if they pass the evaluation. With a balance of up to $400,000, they can begin trading.
FTMO provides a thorough trading journal with account analysis and learning materials to aid in risk management. Both novice traders and seasoned investors will find this offer appealing. Also, remember to know what is a prop if you want to understand FTMO.
The FTMO Challenge comes first.
The assessment procedure will start with the FTMO Challenge. This is your time to demonstrate that you are a successful trader with strict discipline.
The FTMO Challenge has a minimum of 10 trading days and a duration of 30 calendar days. The 30-day trading deadline is for achieving the trading goals. While still meeting all conditions to automatically advance to the FTMO Verification Phase, you can reach your profit objective sooner.
There are still a minimum of 10 trading days left. For instance, you’ll still need to trade for three more days even if you reach your target in seven trading days. You can make low-risk trades over the next few days to maintain your target.
You will have to pay when the FTMO Challenge first starts. Depending on the funded trader account you select, prices will change. After the evaluation is finished, the prop firm will reimburse the fee in the first split of profits as a funded trader.
This is not an automatic trading competition. There are several account options available during the FTMO Challenge, including aggressive and standard accounts. The funding level and trading policies differ for each type of account. They may range from $10,000 to $200,000. Each type of account has a maximum daily loss or profit target of 10% to 20%, depending on the risk level.
An aggressive account permits additional drawdowns without shutting the account, even if it is more expensive and may involve greater risk. Your maximum drawdown increases from 10% to 20%. Low-risk accounts are considerably less expensive and typically give a $10,000 starting sum. The FTMO Challenge is a great choice for traders who are just starting out.
Step two is verification.
The process’s second step is verification. You must show off your abilities during the Verification phase by developing profitable trading strategies. But this time, it is completely free. The verification step is open to everyone.
The amount of time needed to reach the profit goal will quadruple as a result. You now have a 60-day trading window as a result. Ten calendar days continue to be the minimal trading day. Rules for various trading accounts vary. The maximum daily loss and profit targets are determined by the risk level you have selected.
If you succeed, you will be given the chance to open a funded account and become an FTMO trader.
If you fail to reach your profit goal within 60 days, you are entitled to a free redo of the verification phase. Only traders who closed all positions with a profit and stayed within the loss limits (didn’t go over the daily or total loss maximum) are eligible for this offer.