FTMO, a leading proprietary trading firm specializing in forex, has rapidly gained recognition for its top-tier funded trader programs. In this FTMO review, I will go into the various aspects of the firm, from the pricing to the member dashboard and available trading platforms.
The journey to becoming a funded trader with FTMO can be challenging, but the firm provides comprehensive support through educational applications, account analysis, and performance coaching. This support is aimed at assisting traders in achieving financial independence. Funded traders with FTMO receive up to 90% of the profits, and the range of tradable assets is broad, including Forex, cryptocurrencies, commodities, indices, and stocks.
My review also covers the FTMO Challenge, offering insights into the evaluation process, trading objectives, and pricing, to help traders understand how to get started and what to expect. For those interested in getting the best price on FTMO, understanding these details is crucial for making an informed decision about whether FTMO is the right fit for their trading goals.
Learn More About FTMO
Getting the Best Price on FTMO
FTMO features a tiered pricing structure for its trading challenges, crucial for those looking to get the best price on FTMO. Prices start at €155 and can reach up to €1080, varying according to the initial trading capital provided for each challenge. The available trading capital in the challenges ranges from €10,000 to €160,000.
Here’s my breakdown of the pricing for the different levels of trading capital:
- For a €155 fee in the FTMO Challenge, traders receive an initial trading capital of €10,000.
- A fee of €250 in the FTMO Challenge provides traders with an initial trading capital of €20,000.
- Other levels include €345 for a trading capital of €50,000, €540 for €100,000, and €1080 for a trading capital of €200,000.
Additionally, FTMO offers a scaling plan that allows traders to work up to higher amounts of capital, up to $2 million. There is a free trial with FTMO, so you can make sure you like before committing to paying.
Now that I have explained how to get the best price with FTMO, let’s get into the benefits. Here are the main features that have impressed me the most:
- Account MetriX: This web application tracks your progress towards becoming an FTMO Trader, providing a comprehensive overview of trading objectives and key statistics.
- Account Analysis: Post-Challenge, FTMO offers an unbiased analysis of your trading results, using all trading data to highlight potential areas for strategy optimization.
- Statistical App: This application delivers data-driven insights into market behavior probabilities, aiding traders in making informed decisions to boost profitability.
- Trading Journal: An easy-to-use journal that automatically stores trades, along with thoughts and feelings about each trade, facilitating retrospective analysis to improve future trading decisions.
- Mentor App: Designed to reinforce trader discipline, this app enforces trading rules and risk limits. It’s compatible with MetaTrader 4, MetaTrader 5, and cTrader platforms.
- Equity Simulator: A tool for simulating potential equity curve outcomes, helping traders manage drawdowns and the inherent randomness in their strategies.
- Economic Calendar: Offers an overview of upcoming economic events and their potential impact on the markets, crucial for planning and adapting trading strategies.
- One-time Evaluation Fee: FTMO charges a one-time fee for the evaluation, which contrasts positively with other firms that might have recurring charges. This fee is reimbursed with the first profit split for successful traders.
- Opportunity for a Free Retake: If you don’t pass the challenge but didn’t violate any rules, you can try again for free.
- Generous Trading Conditions: FTMO provides up to 100:1 leverage, a balanced ratio of losses vs. profit, no limits on lot size, and no restrictions on trading style.
- Multilingual Support: Customer support is available in 15 languages, offering detailed account breakdowns.
- Flexibility in Holding Positions: Overnight and weekend positions are allowed, though weekend trading is not permitted.
Even if you are getting the best price on FTMO, you should be aware of its competitors before paying your hard earned money. I’d like to start by discussing The Funded Trader. If you prioritize risk management tools and like the flexibility of higher maximum trading drawdowns, you might find The Funded Trader appealing. My FTMO vs The Funded Trader review will get into the details.
If you are a futures trader, TopStep is a popular choice amongst day traders. Offering highly rated educational resources and affordable pricing, TopStep is a serious contender in the crowded prop firm industry. My TopStep vs FTMO article will break down the pros and cons of each platform.
The 5ers, named from the fact that they only accept the top 5% of traders into their program, is the last prop firm I will discuss. Allowing a no up-front cost evaluation and flexible profit splits, The 5ers have been generating buzz with traders seeking high leverage trading accounts. To see how they compare to FTMO, check out my The 5ers vs FTMO review.
FTMO offers a wealth of tools and resources to support traders in their journey. FTMO provides traders with the necessary analytics and discipline to refine their strategies. The one-time evaluation fee, along with the opportunity for a free retake if the initial FTMO challenge is not passed without rule violations, makes it a financially appealing option.
The platform’s generous trading conditions, including leverage up to 100:1 and no restrictions on trading style or lot size, further enhance its attractiveness. The flexibility offered in terms of holding positions and the comprehensive economic calendar are additional benefits that cater to various trading styles and strategies.
For traders keen on getting the best price on FTMO, understanding the FTMO challenge fees and rules is crucial. These aspects, combined with the platform’s robust support system and trader-friendly conditions, make FTMO a worthwhile consideration for those looking to succeed in the world of proprietary trading. To explore more about FTMO and to see if it aligns with your trading goals, Click Here to learn more and take the next step in your trading career.
Get Started with FTMO