FTMO Complaints And Negative Ratings: What Users Have Not Liked

In this FTMO review, I’m taking an in-depth look at the firm, a leading proprietary trading company that has gained widespread popularity among traders around the world.

FTMO is known for being one of the fastest-growing proprietary trading firms, providing funded trading accounts where traders receive up to 90% of the profits. The firm offers a wide range of tradable assets, including Forex, cryptocurrencies, commodities, indices, and stocks.

However, when considering FTMO as a platform for your trading needs, it’s important to also take into account any FTMO complaints and negative ratings. These insights will provide a more comprehensive view of the firm’s performance and reliability, ensuring a balanced understanding of both its advantages and potential drawbacks.

Read on to learn about the good, bad and ugly of FTMO.
Learn More About FTMO

What Is FTMO?

FTMO, a proprietary trading firm based in the Czech Republic, has established itself as a notable platform for funding skilled traders. Since its inception in 2020, FTMO has experienced significant growth, attracting traders from over 180 countries. This growth is reflected in the impressive statistic of over 6 million trades opened monthly on the platform, with an average payout processing time of just 8 hours.

The firm’s primary focus is on the Forex market, but its offerings also include commodities, cryptocurrencies, and indices. To qualify for funding, traders must successfully navigate a two-step evaluation process that assesses their profitability and adherence to trading rules. This process includes the FTMO Challenge and the Verification stage, both designed to evaluate a trader’s skill and potential.

Traders who excel in these evaluations are rewarded with a trading account funded up to $400,000, with the possibility of scaling up to $2 million. FTMO’s approach and the success of its traders have made it a sought-after destination for those looking to advance their trading careers with the backing of a significant capital.

FTMO Complaints And Negative Ratings

Before I discuss any more of the positives FTMO brings to the table, I want to address some customer complaints. First, I must mention that FTMO has a 4.8 out of 5 star rating on TrustPilot, meaning the majority of users are happy with the service.

These negative ratings are the exception rather than the rule. But here are a couple I feel are worth mentioning:

Hugues RABIA

2 reviews

MG

2 days ago

Verified

FTMO solid and promising platform

Although I’m currently only on a demo account, I’ve noticed that the platform is well set up and, above all, with very active customer support. I’m giving it 3 stars because personally the cost is still quite high for me.

Date of experience: November 16, 2023

This user notes that the platform is great, except the price. It is important you understand the FTMO pricing before signing up. We will discuss the pricing the the next section.

Helen

1 review

US

6 days ago

Verified

Might work for short-term trading!

Based on my experience, setting a daily loss limit increases our chances of successfully passing the challenge account. As a trader, it’s important to focus on short-term trading. Holding overnight trades or keeping positions open over the weekend can lead to the account being closed.

Date of experience: November 09, 2023

I feel this review brings up a very important point and a matter of confusion for someone new to FTMO. In regards to holding trades through the weekend, FTMO allows these only during the challenge and verification phases, not when trading a funded account.

If you desire to search out more FTMO complaints, Reddit reviews are usually a good place to find swaths of people airing their grievances. Although I must note that sometimes these reviews are from people with alternative motives, as the Reddit reviews aren’t from certified users.

FTMO Pricing

FTMO’s pricing structure varies depending on the challenge, with options starting from $155 and going up to $1080. The amount of trading capital provided corresponds to the specific challenge selected. Let me break it down for you:

• $155 FTMO Challenge: Upon payment of $155, participants are allocated an initial trading capital of $10,000.
• $250 FTMO Challenge: This challenge offers the same initial trading capital of $10,000, following a payment of $250.
• FTMO Challenge Swing: In this challenge, participants receive a starting capital of $20,000.

FTMO Benefits

FTMO offers a variety of beneficial features for traders aiming to maximize their trading potential. Here’s a detailed look at what FTMO brings to the table:

Account Analysis: After completing your Challenge, FTMO provides an unbiased analysis of your trading results. This analysis uses all your trading data to offer insights into areas where your strategy might be optimized.

Statistical App: This application delivers data-driven market behavior probabilities, aiding traders in making informed decisions to increase profitability.

Trading Journal: An easy-to-use tool for tracking trading results, thoughts, and feelings about trades. It automatically stores trades and enables retrospective analysis to refine future trading strategies.

Equity Simulator: A tool that simulates potential equity curve outcomes, helping traders understand and manage the randomness and drawdowns in their strategies.

Economic Calendar: Offers an overview of upcoming economic events and their potential impact on financial markets, assisting traders in staying informed and planning their strategies effectively.

FTMO MetriX Tracking: Every trade is tracked in the FTMO MetriX section of your dashboard. It displays challenge status, account size, current results, and adherence to the four essential trading rules: Minimum 10 Trading Days, Maximum Daily Loss, Maximum Overall Loss, and Profit Target. Once all objectives are met, you can proceed to the next step.

FTMO Mentor: An app working with MetaTrader 4 that tracks trading behavior, promotes discipline, and alerts you to trades that may jeopardize your evaluation process.

Downloads and Trading Academy: Access to Expert Advisors and trading indicators for MetaTrader platforms and resources like the Autofibo, Breakout Zones, and SL & TP Values. The FTMO Academy provides educational content, including beginner videos, trading platform insights, and trading tips.

Final Thoughts

Wrapping up this FTMO review, it’s clear to me that FTMO stands out as one of the best forex prop trading firms available today. With its varied funding challenges, innovative tools like Account MetriX and Mentor App, and a wealth of educational resources, FTMO offers a comprehensive platform for traders seeking to maximize their potential.

While considering FTMO, it’s also wise to take into account any FTMO complaints and negative ratings. This balanced view ensures a thorough understanding of the firm’s capabilities and areas for improvement. However, the firm’s commitment to providing valuable tools and resources to its traders often outweighs these concerns.

Discover for yourself why FTMO is celebrated among traders and see if it aligns with your own trading journey and goals. Click Here to get started today.
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