FTMO Review Reddit
In this FTMO review, I will discuss whether or not this company is legitimate and trustworthy. I’ll also talk about the evaluation period, payouts, and other rules so you can make an informed decision about the service. In addition, I’ll give you my personal experience with the company.
FTMO is a legitimate company
The FTMO website is easy to navigate, and the software is easy to use. There are nine packages to choose from. Each includes different levels of risk. You can select the amount you want to risk. There are also different payment options, like bank transfer, Skrill, and cryptocurrency. You can choose to get paid every month or every quarter, as you prefer.
Most traders rate FTMO as one of the best proprietary trading companies. They also say their customer service is efficient, fast, and accurate. They also mention that FTMO pays their clients on time and has competitive spreads. Most reviewers also highlight the transparency of the company’s evaluation process.
Another notable feature of FTMO is that its account types offer leverage up to 1:100. They also offer access to over 100 forex pairs, including EUR/USD/GBP. In addition, they offer various types of cryptos, such as Bitcoin and Ripple. They also have a large list of stocks and offer excellent profit splits.
FTMO also provides tools to help traders analyze trade performance. This helps them improve their risk management, psychology, and discipline. In addition, traders can withdraw their profits after 14 days. The company has set a high standard of transparency and accountability, which sets it apart from other prop trading companies.
FTMO trader’s evaluation period
The FTMO trader evaluation period is one of the most comprehensive in the industry. It is based on a two-step process that identifies talented, disciplined traders. The first step is determining whether the trader has the necessary skills and experience to trade successfully. The second step is determining the risk the trader is willing to take. Discipline is an essential skill for trading in the forex market.
Once a trader has completed the evaluation process, they can go on to the verification stage. The verification period lasts 60 days. If the trader completes the challenge within the first thirty days, they will not have to wait the full sixty days.
After completing the evaluation period, FTMO traders can trade news without restrictions. However, traders should take care to trade news during news releases. In addition, they should be aware of their account equity rule. This rule states that the trader’s account equity must not fall below ninety per cent of their initial account balance. For instance, a trader with a $100,000 account balance can have an equity level of only $90,000. This applies to both open and closed positions.
FTMO is one of the fastest-growing proprietary trading firms. The company is located in Prague and has over 6000 members worldwide. The company is a top choice for people who want to trade in the forex market while limiting risk. The company offers a wide range of tradable assets, including forex, cryptocurrencies, commodities, and stocks.
FTMO trader’s payout
To earn an FTMO trader’s payout, traders must prove they are profitable and disciplined. To do this, they must complete a challenge, which lasts 30 calendar days or at least ten trading days. Traders who hit their profit target faster will automatically advance to the Verification phase.
The trader’s payout program of FTMO offers a 25% increase every four months for traders who have gained at least ten per cent profit in the previous four months. However, they must also process two payouts in four months. In addition, the trader’s account balance must be higher than the initial starting balance of the account.
The amount of money a trader can receive from FTMO depends on the size of the account and the level of risk they prefer. Higher-risk accounts require higher account fees. In addition, FTMO focuses on forex trading, with 44 currencies to choose from. Other assets available include eight metals, fourteen futures contracts, ten cryptocurrencies, and 23 equities.
FTMO offers both desktop and mobile trading platforms. The MT4 and cTrader platforms can download from Google Play Store and Apple App Store. Traders can also use the FTMO web trader, which doesn’t require downloads. The sign-up process is straightforward and fast, and results are usually available within 24 hours. Traders also receive their trading account’s funds within a day of making a profit.
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