Is FTMO a trustworthy company? (2024)

FAQs

Is FTMO a trustworthy company? ›

FTMO is generally considered a legitimate prop firm

With FTMO, once you get to the FTMO Trader stage you can receive real rewards for your performance. You can withdraw your reward anytime between 14 to 60 days from your first trade on your FTMO Account (Profit Split).

For example, we can generally recommend to our FTMO Traders not to risk more than 1% per trade idea to help them with adopting safe risk management principles.

There is estimated to be a 90% fail rate of traders that take the FTMO challenge. The reason behind this is due to traders chasing the profit target with a time restriction in place. A trader doesnt know when a winning streak might occur, or when they may take a string of drawdowns.

When you lose an FTMO challenge, you won't actually be losing something except for the fee amount that you paid for the challenge. However, you won't be able to continue with the challenge and your eligibility would be lost.

No, we don't charge any additional or hidden fees. The one-time fee for an FTMO Challenge covers it all, including the Verification, there are absolutely no recurring fees with us.

Having successfully operated since 2015, we provided thousands of clients with their FTMO Accounts, and in total, we have paid out over $160 million.

MetaTrader is the most widely used program among forex traders, and that applies to FTMO traders as well. The program's environment is intuitive and straightforward, however, its modifiability gives modders space to make it even better and user-friendly.

Who are FTMO Top Competitors? FTMO 's top competitors in September 2024 are: FunderPro, SabioTrade and more. FunderPro is currently rank as the number one on the list of top Forex Prop Firms.

The fee covers the costs related to the FTMO Challenge provided by FTMO such as the designing, development, and operation of the FTMO platform (the technical infrastructure behind the provided educational services and applications).

How long does it take to get paid from FTMO? ›

The payouts are processed within 1-2 business days upon confirming the invoice.

Each trader with an FTMO Account is entitled to receive a reward of up to 80% of simulated profits. This means he/she is entitled to the reward after meeting the necessary conditions and achieving success on an FTMO Account.

The two co-founders, Otakar Suffner and Marek Vasicek, will retain their roles as CEO and CTO of the FTMO Group, respectively.

From the beginning, FTMO's goal has been to help skilful traders solve the problem of undercapitalization. Those who are really skilled and experienced can make very good money through FTMO without risking their own capital.

You can see that XAUUSD is the most popular symbol followed by US30. cash and currency pair EURUSD in third place. It means that these symbols are predominant in regards to trading volume compared to others. In the Trending Symbols section you can find the change in popularity for each symbol.

You can receive your profits by a regular bank wire transfer, Skrill or cryptocurrencies. We don't charge any commissions for withdrawals.

Clients are entitled to up to 90% of profits generated on an FTMO Account. If you wish to trade with a higher account balance, you can simply apply for another FTMO Challenge.

About Virtual Funds

After a client becomes a Simulated Funded Trader, he/she will be provided with a demo account with simulated funds. The Funded Trader challenge and funded accounts are not live trading accounts, they are fully simulated accounts utilizing real market quotes from liquidity providers.

FTMO Academy provides a solid foundation in the basic and advanced concepts of trading. This includes an understanding of the financial markets, trading instruments, trading platforms, trading analysis, trading strategy and much more.