FTMO Forex Broker

GENERAL INFORMATION AND REGULATION FTMO are a prop trading firm based out of Czech Republic, mainly based in the Forex trading sector. In short, they provide up to $200,000 of trading capital to traders that can pass a fairly simple challenge. The challenge is to prove you are a consistently profitable trader and if you are, in return, you are given capital, of which you keep up to 90% of the profits and FTMO keep 10%. The company essentially looks for profitable traders that just need funding and then gives them the tools and money they need. Prop trading is an exciting way for experienced investors to speculate on the financial markets with serious capital and reduced risk. FTMO is one of the leading firms in the forex prop trading space with over 6000 new members joining in 2020. FTMO was founded in 2017 by owner Otakar Suffner with the aim of providing funded accounts to talented traders. The company is based in the Czech Republic, with headquarters in Prague. Since its launch, the firm has grown quickly and has won several awards, including the Deloitte Rising Star award in 2019 and 2020. The company has a good reputation with highly developed apps to aid trading strategies and top-rated customer support. FTMO offers a variety of trading instruments including forex, commodities, indices, cryptos, stocks and bonds as well as multiple platforms such as MetaTrader 4, MetaTrader 5 and cTrader. MARKET INSTRUMENT Users can trade CFDs and other derivatives on over 100 pairs, including forex (GBP/USD, EUR/USD, USD/JPY); commodities such as gold (XAU) and silver (XAG); indices such as US30 and UK100; crypto pairs such as BTC/USD, LTC/USD and XRP/USD, plus many more. Note, trading on the NASDAQ100 (NAS100) is not possible with FTMO. ACCOUNT AND LEVERAGE Account types are broken down into 10k, 25k, 50k, 100k and 200k challenges. Each challenge has a risk level (Normal or Aggressive) except for the 200k challenge which only has the normal risk level. When deciding which level to go for, consider your trading strategies and experience. On the Aggressive account you are allowed bigger losses but have higher profit targets. FTMO prices range from €155 for the 10k Challenge to €1080 for the 200k Challenge. The challenges are denominated in USD but you can attempt them in different currencies – the 100k challenge could provide you with 100k USD, 80k EUR or 70k GBP, depending on your chosen currency. You can have multiple accounts, but FTMO has a maximum initial capital allocation of $400k (or $200k for Aggressive accounts). This means you could have two 200k accounts or four 100k accounts. Scaling does not count towards the initial capital allocation sum. Note that you will need to pay for and pass the Challenge for each new account. You can merge FTMO accounts if they have the same risk and currency setup by contacting customer support. All accounts offer leverage up to 1:100 and access to over 100 FX pairs including USD/EUR, USD/GBP; cryptos such a Bitcoin (BTC) and Ripple (XRP); stocks; bonds; indices like US30 and commodities such as gold (XAU/USD). All accounts come with unique trading tools and apps such as the Account Metrix, Mentor Application and the Equity Simulator. These tools can help you monitor and improve your performance, and are only available to FTMO traders. TRADE SIZE There is no limit on lot sizes and You can use all common trading tools, like stop losses and candlestick charts Also You can trade on FTMO using any strategy, including scalping, hedging or EAs TRADING PLATFORM AVAILABLE FTMO offers a variety of trading instruments including forex, commodities, indices, cryptos, stocks and bonds as well as multiple platforms such as MetaTrader 4, MetaTrader 5 and cTrader. DEPOSIT AND WITHDRAWAL Returns are paid via a monthly profit split. Users must invoice FTMO and the money will be sent to your account via regular bank wire transfer, Mastercard, Visa or Skrill. FTMO charges zero commissions for withdrawals. You will receive a withdrawal certificate as proof of payment. You can invoice the prop trading firm as a company or as an individual. Ensure you manage your earnings in line with your country‘s tax regulations. For example, if you’re trading from UK, you will pay tax on earnings above £12,500. Consult a local tax advisor to ensure compliance with the relevant regulations. CUSTOMER SERVICE When you want make enquiry or something goes wrong, such as a payment gets cancelled, FTMOs customer support team has a good reputation and is available in 13 languages. Business hours are 24/7 for email and live chat and 8 am – 5 pm (CEST) for phone calls Monday – Friday: • Email: support@ftmo.com • Telephone number: +44 2033222983 • In person appointments at their office in Prague Alternatively, you can also visit the online FTMO shop which sells trading themed merchandise such as t-shirts, hats and posters. Another great way to learn more about the company is to look at FTMO Challenge reviews on YouTube.