Ftmo.com Review Is FTMO A Legit Forex Broker Or A Scam

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FTMO.com profile provided by FTMO support, Jun 13, 2020

We look for serious traders. We provide you a capital to trade with. Receive up to $100,000 account. You get 70% of profits. We cover the losses. Join today at FTMO.com

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Consumer Reviews

Service use: Live

Length of use: 0-3 Months

Service use: Live

Length of use: 3-6 Months

Service use: Live

Length of use: 0-3 Months

I started trading with FTMO after I did my challenge and I do not have any problem with the company.
They always answer , helpful, and absolutely pay always.

Everybody is skeptic at the beginning but after when you got the lots of thousand dollars you do not hesitate anymore or wont be skeptic at all.

Service use: Live

Length of use: 0-3 Months

Length of use: 0-3 Months

Service use: Live

Length of use: 3-6 Months

Service use: Live

Length of use: 3-6 Months

Service use: Live

Length of use: 0-3 Months

Legitimate Proprietary Firm

Service use: Demo

Length of use: 0-3 Months

Service use: Live

Length of use: 3-6 Months

Been with FTMO for about 6 months now. Took me 4 challenges to get funded.

After funding, on my first profit split, I received the Challenge Fee + Profit Split.

Already received 2 Profit Splits with no issues.

FTMO can be trusted as a firm, and to us traders, they offer a great opportunity.

They still have things to improve, which I’m sure they will in the future, and I’m happy to work with them as a trader and grow together.

Better than blowing up your small accounts with high leverage, if you are looking for serious capital and serious opportunity, take that small account money, and invest in FTMO Challenge.

Frequently Asked Questions

What is FTMO?

FTMO is a company that runs a program where traders can pay a fee to trade FTMO’s real funds under rules set by FTMO and get paid with percentage of the profits they generate by trading.

Is FTMO good and regulated?

• Is FTMO a good company?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if FTMO is a good or serious company. https://www.forexpeacearmy.com/forex-reviews/15019/ftmo-forex-training

Please come back often as company services are very dynamic and can improve or deteriorate rapidly.

Additionally, we’d recommend to check recent FTMO community discussions: https://www.forexpeacearmy.com/community/tags/ftmo/

• Is FTMO regulated?

FTMO is not a broker. FTMO is not regulated or licensed by any government or non-government bodies.

In other words, there is no designated government or non-government body to supervise the activities of FTMO or to resolve complaints. .

Who can join FTMO?

FTMO doesn’t require any qualifications from traders who want to join FTMO.

FTMO accepts traders from all over the world as long as they are willing to join.

What brokers does FTMO accept?

FTMO doesn’t impose restrictions on the broker where the trading challenge and verification are carried on.

Traders have choices of their own brokers or the FTMO partnered brokers.

How does FTMO work?

3 main steps illustrate how FTMO works. Keep in mind, to participate this program, participants have to pay a fee.

• Step 1: Challenge – Participants have to to succeed here to advance into the Verification stage. Prove their trading skills and discipline in observing the trading objectives and strict rules set by FTMO.

• Step 2: Verification – Participants continue trading to pass the Verification and get ready for trading the FTMO’s funding partner’s capital.

• Step 3: FTMO Trader – Participants become traders of the FTMO Trading firm. Trade and receive 70% of the profits generated by their trading.

Ftmo.com Review: Is FTMO A Legit Forex Broker Or A Scam?

If you manage to pass the Trading Objectives sooner, you do not need to wait for the remaining duration days.

For example, if you pass all the Trading Objectives of the FTMO Challenge in just 11 days, no need to wait another 19 days. We will advance you to the Verification as soon as possible. Minimum trading days 10 days 10 days 10 days To meet this objective, you must trade for at least 10 days during the testing period. At least one position must be opened in each of these days.

A trading day is defined as a day when at least one trade is executed.
If a trade is held over multiple days, only the day when the trade was executed is considered to be the trading day.

Maximum Daily Loss $1,000 $1,000 $500 This rule can also be called “trader’s daily stop-loss”. According to our rules, this is set as 5% (10% in case of an Aggressive version) from the initial capital value. The rule says that in any moment of the day (CE(S)T – Central European Summer Time), the result of all closed positions in sum with the currently open floating P/Ls (profits/losses) must not hit the determined daily loss limit. The counting formula:

Current daily loss = results of closed positions of this day + result of open positions.

For example, in a case of the FTMO Challenge with the initial capital of €40000, the Max Daily Loss limit is €2000. If you happen to lose €1000 in your closed trades, your account must not decline more than €1000 this day. It must also not go -€1000 in your open floating losses. The limit is inclusive of commissions and swaps.

Vice versa, if you profit €2000 in one day, then you can afford to lose €4000, but not more than that. Once again, be reminded that your Maximum Daily Loss counts your open trades as well. For example, if in one day, you have closed trades with a loss of €1000 and then you open a new trade that goes into a floating loss of some -€1200 but ends up positive in the end, unfortunately, it is already too late. In one moment, your daily loss was -€2200 on the equity, which is more than the permitted loss of €2000.

Be careful, the Maximum Daily Loss resets at midnight CE(S)T! Let’s say that one day you had a profit of €600. On the same day, you have an open position with a currently floating loss of €2500. On this day, the maximum daily loss is not violated. The current daily loss is €1900. ( €600 closed profit – €2500 open position). However, if you hold this position with the open loss of €2500 after midnight, the daily loss limit will be violated. This is because your previous day profit doesn’t count to a new day and the open loss of €2500 exceeds the max daily permitted loss of €2000.

The size of the Maximum Daily Loss gives trader enough space for trading and it guarantees a clearly defined daily risk to the investor. Both the trader and investor benefit from this rule as the account value will not drop below the limit. That’s also why Maximum Daily Loss limit includes your possible floating losses.

You can get more insight into why this rule is in place in this article.

Maximum Loss $2,000 $2,000 $1,000 This rule can also be called “account stop-loss”. The equity of the trading account must not, at any moment during 30-days duration, decline below 90% of the initial capital. For the FTMO Challenge with the capital of $100,000, it means that the account lowest possible equity can be $90,000. Again, this is a sum of both closed and open positions (account equity, not balance). The logic of the calculation is same as with the Maximum Daily Loss, the only difference is that it’s not limited to one day but the entire duration of the testing period. The limit is inclusive of commissions and swaps.

10% of the initial capital gives trader enough space to prove that his/her account is suitable for the investment. It is a capital buffer that should keep the trader in the game even if there were some initial losses. The investor has an assurance that the trader’s account cannot decline below 90% (80% in case of Aggressive version) of its value under any circumstance.

Profit Target $1,000 $500 ✖ The Profit target in the FTMO Challenge is set to 10% (20% in the Aggressive level) of the initial balance and 5% (10% in the Aggressive level) in the Verification. Profit target means that a trader reaches a profit in the sum of closed positions on the assigned trading account anytime within 30 calendar days in the FTMO Challenge or anytime within 60 calendar days in the Verification. Also, at the end of the trading period, all positions must be closed.

For example: If you trade Challenge with $100,000 capital, your profit target is $10,000 in the FTMO Challenge and then $5,000 in the Verification.

Note that we will provide you with a new free Challenge every time you meet all the Trading Objectives except for the Profit Target. In order to receive the new FTMO Challenge for free, your account balance must be positive at the end of the time period.