25 Questions about FTMO
1. What is FTMO?
FTMO is a "Proprietary trading firm" meaning a financial firm or commercial bank that invests for direct market gain rather than earning commission dollars by trading on behalf of clients. It's also called "prop trading". They recruit talented forex traders to trade with their capital for a 70/30 split of profit (70% for you the trader). To be sure the trader is suitable, they must pass a 2-step evaluation challenge where you meet profit targets and have losses within limits.
2. Is the FTMO challenge legit?
Yes, the company has existed since 2015 and has a strong presence on Trustpilot.
3. How much money can you make from FTMO?
You earn 70% of the profit generated. So if you trade a $100,000 USD account and average 6% ROI per month, you would net $4,200 USD/month.
4. How much does FTMO cost?
The test for a $10,000 USD/EUR account is 155 Euros.
5. Can you quit FTMO?
Yes, at any time. There are no minimum withdrawals or fees, and they're done monthly.
6. Can you upgrade FTMO account?
Yes. If you maintain profitability, they provide options to scale up your account capital.
7. What happens if you fail FTMO?
If you don't fail the drawdown limits (5% daily, 10% total), but have a positive balance under the 10% profit target, you can try again for free. If you fail the drawdown limits, then the challenge is forfeited. It's best practice to test your strategy on a demo account before proceeding to the challenge to ensure your settings are correct etc. FTMO is actually trading on demo accounts, then they copy trade from that. So demo trading is perfect simulation of the FTMO challenge. All our strategies have been run multiple times on demo accounts, and on real FTMO challenges to hit the profit targets.
8. How do you qualify for FTMO?
You need to pass the "FTMO challenge". This involves trading on their demo account and choosing the 'normal' or 'aggressive' options. The requirements on the normal risk account are 10% profit within 30 days, 5% maximum daily drawdown, and 10% total drawdown.
9. What happens if you lose FTMO money?
The maximum money you can lose is the challenge fee.
10. How long does it take to pass FTMO?
Minimum 10 trading days, maximum 30 days.
11. How many times can you do FTMO?
If you don't fail the drawdown limits (5% daily, 10% total), but have a positive balance under the 10% profit target, you can try again for free until you pass.
12. Is FTMO worldwide?
Yes, Traders are accepted from all countries if they're over 18 years old.
13. Which broker does FTMO use?
FTMO is collaborated with the broker 'FF trader'.
14. Where is FTMO broker located?
FTMO is located in Prague in Europe.
15. What leverage is FTMO?
FTMO uses 1:100 Leverage.
16. What is the FTMO free trial?
An opportunity to practice on an FTMO provided demo account for 2 weeks. It's practicing on their spreads and leverage, so you can transition easily to the FTMO challenge afterward.
17. What is FTMO verification?
Verification is trading on a demo account provided by FTMO that is performance monitored. They need to confirm you can trade within risk parameters and meet profit targets (5%/month on standard account).
18. What happens if you pass FTMO free trial?
Not much, it's just for practice. To move forward towards funded trading, you'll need to do the FTMO challenge which is a paid option.
19. Can I hold positions over the weekend FTMO?
Yes. You can hold positions overnight or over the weekend.
20. How do you pay for FTMO?
The payment options are wire transfer, debit/credit card, or Skrill.
21. Is hedging allowed in FTMO?
Yes, hedging is allowed. FTMO doesn't restrict the strategy types, lot sizes etc.
22. How long is FTMO free trial?
The FTMO trial is 14 days
23. Can I use Metatrader with FTMO?
Yes, Metatrader is compatible.
24. Can I use Tradingview with FTMO?
No, this isn't compatible.
25. Can I use Expert Advisors with FTMO?
Yes, Metatrader Expert Advisors are allowed.
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