FTMO Review: Are They Legit? My Honest Take

Hi, welcome to my FTMO review.

Today, I’ll be going through the company’s rules, reviews, challenges, fees and more to help you determine if they are worth your money.

FTMO is an industry leader in the prop industry. They are highly popular and have received a ton of positive feedback from happy traders.

However, there are a ton of prop firms with attractive offers. This makes it difficult to determine if FTMO is the best or not.

In this FTMO review, I’ll help you find the answer to this question.

Pros and Cons of FTMO

Pros

• Trading psychologist for traders Capital scaling plan CEO’s transparent communication
• High Trustpilot ratings (4.9/5)
• Excellent 24/7 Live Chat assistance and customer service
• Optional free trial
• Unlimited evaluation-free tries
• Biweekly payments
• Open-ended trading and problems
• Wide range of trading instruments
• 1:100 leverage
• Attractive 70% profit split
• Up to $400,000 in funding
• Multiple trading instruments exist.
• Multiple trading instruments exist. 

Cons

• Educational films aren’t for skilled traders.
• Maximum 2 $200,000 accounts
• Long vetting process 5% Basic tools

What is FTMO?

The FTMO private trading firm leads proprietary trading for good reason. Consider FTMO, known for finding and developing top proprietary traders. My full FTMO review can help you understand this firm’s offerings.

FTMO, founded in 2017 by Otakar Suffner, aims to provide financed trading accounts to bright traders. Since its founding in Prague, Czech Republic, FTMO has grown rapidly, winning the Deloitte Rising Star Award in 2019 and 2020.

FTMO is a major proprietary trading company that lets investors trade forex, stocks, bitcoin, bonds, and more.

The remarkable track record of this Czech corporation shows its stellar reputation. It won Deloitte’s Technology Fast 50 for four years, from 2019 to 2022. FTMO also has a 4.9 out of 5.0 Trustpilot rating from 5,004 reviews.

FTMO has numerous subsidiaries for compliance. The site is run by FTMO. This organization has a good reputation due to its advanced trading programs that support several trading methods and excellent customer service. 

FTMO Funding Programs and Challenges: Rules and Requirements

FTMO offers its traders two different two-phase evaluation funding programs to choose from:

1. Evaluation program accounts
2. Normal evaluation program accounts
3. Aggressive evaluation programs accounts

This section of the FTMO review delves into the evaluation process, trading objectives, and the range of tradable assets offered by FTMO.

Evaluation Process:

The FTMO evaluation process is a structured journey consisting of two fundamental steps:

FTMO Challenge: Step 1

The FTMO Challenge asks traders to show discipline, talent, and profitability. This task requires reaching trading goals.

The maximum time to meet goals in the FTMO Challenge is 30 days. Participants go to verification if they meet the profit target within the deadline and follow all guidelines. However, 10 trading days are required. If you reach your goal in the first five trading days, you must trade more for the next five. You can comply with the requirements by making lower-risk trades and meeting the 5-day profit target.

The FTMO Challenge cost is a one-time payment based on the funded trading account size. Importantly, Step 2 verification and Step 3 FTMO Trader program have no additional expenses. When you become a funded trader, FTMO reimburses the Challenge cost as the first profit share. 

Verification: Step 2

The verification step follows the FTMO Challenge, giving participants double the time to meet the profit target while following the regulations. This 60-day phase gives traders plenty of chance to prove themselves.

After completing the FTMO Challenge, verification is free. The verification stage requires 10 trading days, like the challenge. Meet this condition and reach the profit target within 60 days to become a funded trader at FTMO. 

Also read: City Traders Imperium Review

FTMO Trader: Step 3

Participants who complete the FTMO Challenge and Verification are eligible for proprietary trading firm financing. This achievement shows risk management, trading ability, and discipline in the demo account during Steps 1 and 2.

Becoming a funded trader is achieved in Step 3. Your FTMO account is now linked to the company’s live trading account. The default profit split ratio for FTMO traders is 80:20, so you keep 80% of the gains to withdraw to your bank account.

FTMO’s scaling plan allows for a 90:10 profit split. This industry-leading ratio gives traders more profit retention potential. 

FTMO Broker: Do They Use a Reliable Platform? 

Without using well-known broker branding, FTMO stands out. Instead, they work with a tier-1 liquidity provider to offer traders the finest simulated real market trading circumstances through a trustworthy broker.

FTMO offers three popular trading platforms:

• MetaTrader 4: The popular MetaTrader 4 platform has a user-friendly interface and extensive charting tools.
• MetaTrader 5: Advanced traders can use MetaTrader 5, which has more features.
• cTrader: Popular alternatives include cTrader, which has an intuitive interface, fast order execution, and extensive technical analysis.

These numerous trading platforms allow traders to choose the one that best suits their trading tastes and techniques, making FTMO a versatile and accommodating platform for many traders. 

FTMO Fees: How Much Do They Charge?

FTMO offers tiered pricing that gives traders different initial trading money according on their difficulty. Prices range from EUR 155 to €1080. Each challenge has €10,000 to EUR 160,000 in trading capital, depending on the difficulty. 

Here’s a breakdown of the pricing structure:

€155 FTMO Challenge:

• When you pay the €155 fee to enter the Challenge, you will receive an initial trading capital of EUR 10,000. It’s worth noting that it also offers equivalent capital amounts in other major currencies, such as USD, AUD, GBP, CHF, and CAD.

€250 FTMO Challenge:

• For the €250 fee to participate in the Challenge, you will also receive an initial trading capital of EUR 10,000, with the option to choose an equivalent capital amount in other supported currencies.

FTMO Challenge Swing:

• When competing in the Challenge Swing, the cost and initial trading capital differ. With this challenge, you pay the specified fee, and you are granted an initial trading capital of EUR 20,000. However, it provides flexibility by offering equivalent capital amounts in multiple currencies: USD ($25,000), GBP (£20,000), CHF (20,000), CAD (30,000), and AUD (30,000).

This tiered pricing and capital structure allows traders to select the challenge that aligns best with their preferences and risk tolerance, tailoring their trading journey according to their specific needs and goals.

FTMO Proof of Payment:

The September 2015-founded private trading firm FTMO has distinct qualities that set it apart. One benefit is that traders can request bi-weekly payouts after funding. Traders can routinely withdraw earnings, improving liquidity and financial flexibility.

By not requiring traders to meet profit targets before withdrawing, FTMO is more trader-friendly. This flexibility in profit withdrawal requirements lets traders manage their cash according to their trading strategy and goals. This makes FTMO a trader-centric platform that helps traders succeed. 

FTMO Customer Support: 

It maintains an active presence on various social media platforms, allowing users to stay connected and informed about their services.

Here are the details of their social media profiles:

1. Facebook: FTMO has a Facebook page with a substantial following of 50,588 followers.
2. Twitter: Their Twitter account boasts a substantial audience of 24.7k followers.
3. Instagram: An impressive 159k people follow FTMO’s Instagram account.
4. YouTube: They have a dedicated YouTube channel with 78.8k subscribers and have uploaded 204 videos, providing valuable content to their community.

Support is readily accessible through various means:

1. FAQ Page: FTMO offers a comprehensive FAQ page that serves as a valuable resource for users seeking specific information.
2. Email Support: Users can directly contact the support team via email at [email protected] for personalized assistance.
3. 24/7 Support: The customer support team operates around the clock and is available through various communication channels, including email, live chat, and WhatsApp.
4. Phone Support: Users also have the option to reach it via phone calls, with support available from Monday to Friday between 8 AM and 5 PM CE (S)T. They can be reached at +44 2033222983.

Their multilingual team can communicate in 15 languages, catering to a diverse user base. The supported languages include English, German, Spanish, Portuguese, French, Italian, Czech, Hindi, Filipino, Vietnamese, Slovenian, Serbian, Ukrainian, Turkish, and Russian. (Check out: Audacity Capital Review)

The availability of multiple communication channels and support in various languages underscores FTMO’s commitment to providing accessible and responsive assistance to its users.

What makes FTMO unique? 

The app has over 100K downloads and a 4.5-star rating on the Google Play Store. This platform has 847 reviews.  

FTMO Reviews: What Do Their Customers Say?

Trustpilot:

The firm has a great reputation on Trustpilot, with a rating of 4.9 out of 5 stars from a total of 6,635 customer reviews. They are a verified company on the platform and have claimed their profile. Overall, their standing on Trustpilot is excellent.

#1. Was unsure of my strategy, but was paid. Great support, conditions, and experience. I used Deifunded and it was a night and day. Not looking for another prop firm. Fully satisfied with FTMO. Strongly advise.

#2. After failing two tasks on FTMO, I am close to becoming a funded trader after trading for almost a month. Every time I’ve reached support with a problem, they’ve responded quickly and rectified it. When payment is made, I’ll update.

#3. Poor reviews were erased, and they stopped serving my nation…

Trustpilot will erase bad reviews, so I won’t say anything. I hope my review didn’t cause millions of others to lose access to this amazing service, but decisions must be made, and I respect them.

#4. FTMO is usually good. Beware: today I checked my VPS and saw my active challenge has lost connectivity with the error “Old Version”. The robots I use can’t manage open deals or open new ones. FTMO remotely and brazenly disabled my (or anyone’s) MT4 now that there’s an upgraded (manual download from the website) without an email or notification. I’m concerned since they can do this anytime without my knowledge.

#5. I traded for a month with this without issues, but the metrix on the app randomly stopped tracking my trades, so I asked to update it. They said I breached daily loss, even though I have an mt4 report and screenshots that FTMO has added the missing drawdown. I was unhappy since my 200K account was expensive and I assumed FTMO was different from the other prop companies, but I was wrong.

Wrapping it up:

After careful study, FTMO is a unique proprietary trading organization that allows skilled and experienced traders to manage large cash without risking their resources. It takes time and effort, but the platform’s two-step review process vets only the most disciplined and consistent traders to ensure they receive FTMO financing.

If you want to begin your trading journey, I recommend going with CTI’s Scaling Plan. Not only will you get instant funding with them but also get access to their vast selection of tools & resources.

FTMO’s profit-sharing concept and initial fee reimbursement after the first profit split make it appealing to traders looking to advance. The FTMO community’s educational resources, performance coaching, and support give traders the tools they need to succeed in the competitive trading world.

In conclusion, FTMO offers a demanding yet rewarding environment for talented traders who can demonstrate their trading knowledge and consistency. Start trading with FTMO here immediately.