FTMO is a proprietary trading company that provides funding for crypto successful traders in exchange for a profit share of profits. First, you take FTMO’s free evaluation course to prove your skills. If you pass, FTMO will fund your trading account with up to $400,000 ($2M with a scaling plan). You keep 70-80% of the profit split, while FTMO takes the rest.
Once funded, you’re free to trade whichever markets you want. FTMO takes a hands-off approach but continues evaluating your performance. As long as you generate profits and follow the rules, your funding will be renewed monthly. But the question that lingers at the back of all new users is if FTMO is the best crypto proprietary trading firm. Here is a FTMO review to answer this.
Learn More About FTMO
FTMO Investment Options
FTMO offers a variety of investment vehicles for you to utilize. You can trade forex, stocks, commodities, cryptocurrencies, and more. There are no restrictions on your trading strategy or plan as long as it is legal and complies with current crypto market circumstances. FTMO aims to give investors the freedom and flexibility to trade what they want when they want.
In terms of trading platforms, FTMO provides the popular MT4, MT5, and cTrader platforms. These industry-leading platforms allow you to analyze the market, place trades, and hopefully generate profits. You can also use your custom trading platform or algorithm if you prefer.
FTMO provides advanced tools and features to help you succeed as a trader.
- Account MetriX: This web app gives you an overview of your progress to become an FTMO trader. It tracks your key metrics and stats, so you know where you stand.
- Account Analysis: After your Challenge, FTMO provides an unbiased analysis of your trading using all your data. They evaluate your strategy and suggest ways to optimize your approach.
- Statistical App: FTMO’s data-driven app gives you the crypto market behavior probabilities. This helps you make smarter trades and boost profitability. You’ll have the insights to anticipate the best opportunities.
- Trading Journal: FTMO’s journal automatically logs your trades so you can review what went right and wrong. Look for patterns to build on your wins and avoid repeats of your losses. A journal helps build discipline and a consistently profitable strategy.
- Mentor App: This unique app enforces risk limits and simple rules to strengthen discipline. It’s compatible with MetaTrader 4, MetaTrader 5, and cTrader platforms, so you can use your preferred software.
- Equity Simulator: The equity simulator lets you see how your strategy might perform under different market conditions. You can tweak parameters to optimize your strategy and better manage risk.
- Economic Calendar: The economic calendar provides a schedule of market-moving events like job reports, interest rate decisions, and GDP releases. Knowing when these events are coming up helps you anticipate volatility and potentially capitalize on price movements.
How Does FTMO Work?
To become a funded trader, you go through a multi-stage evaluation stage process. Here is a breakdown of each stage and what goes into each process:
The FTMO Challenge is the first stage of evaluation for aspiring prop traders. It tests your skills, discipline, and ability to meet specific trading objectives.
To pass the Challenge, you must:
- Reach FTMO’s profit target (depending on account size)
- Trade for at least 4 minimum trading days
- Stay within the maximum daily loss limit
- Not exceed the maximum overall loss limit
FTMO offers various account sizes with different fees, profit targets, and loss limits. Choose one that matches your trading style and risk tolerance.
Once you’ve passed the Challenge stage, you’ll move on to Verification. This step confirms you have the trading skills and discipline to sustain long-term success. To complete Verification, you must:
- Meet a lower profit target set by FTMO
- Trade at least 4 days
- Stay within the daily loss limit
- Stay within the total loss limit
Becoming an FTMO Trader
You are somewhat of a professional trader once you’ve successfully passed the Verification stage. FTMO will offer you a position as an official FTMO Trader. As a profitable trader, you’ll be in charge of an FTMO account holding up to $400,000.
Your main job will be to trade consistently and responsibly, following FTMO’s objectives. If you continually generate profits, FTMO may increase your account size based on its Scaling Plan, allowing you to manage even larger amounts of money.
As an FTMO Trader, you can earn up to 90% of the profits from your trading. You’ll work remotely, managing the account from wherever you choose.
To become an FTMO Trader:
- Apply on the FTMO website and pass their evaluation.
- Fund your trading account with at least $1,000 to start the Verification process.
- Trade for 30 days and reach a 10% profit target with a maximum loss of 5%.
Is FTMO The Best Crypto Proprietary Trading Firm
While FTMO has a promising model and the potential to be a leading crypto prop firm, only you can decide if it fits your needs as an experienced trader. Compare FTMO to other reputable proprietary firms to find the right platform for you.
If you’re a skilled trader seeking to take your career to the next level, FTMO could be an excellent option. But do your research to determine what prop trading companies align with your trading style, values, and goals. Click here to sign up for FTMO and start your crypto trading journey today.
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