The online prop company FTMO is situated in Europe and works with traders from all around the world. The business is renowned for its thorough review process, which guarantees that only the top traders in the market are allowed to join their team.
Table of Contents
How it Works
Due to their thorough review method, FTMO has survived in the risky world of supported trading. This two-step process is specifically designed to identify talented, durable, and focused traders.
Keep in mind that you can have talent but need more focus! And as we all know; you need both to succeed in the currency world. This is most likely the rationale behind the FTMO’s 2-step review process, so let’s explain it in more detail.
Step 1: The FTMO Challenge
You have 30 days to improve your trading skills and stick to FTMO’s trading goals, which include a $1000 profit target, after which you will be verified. This first step’s major goal is to test your self-discipline and commitment to the Trading Objectives.
Step 2: Confirmation
You will enter the verification stage after completing the FTMO challenge. This consists of 60 difficult days during which you must demonstrate your value. You will once more be expected to meet the company’s trading goals during this trading stage.
Fortunately, you won’t have to wait for the 60 days to end if you accomplish your goals faster than expected. At that moment, the prop trading firms will advance you to the next level. Although most people find this first step to be a little too rigid, there is a bright side: if you excel at what you do, you can climb the ranks more quickly.
Step Three: Becoming an FTMO Trader
You may take advantage of all the benefits of becoming a full-fledged FTMO trader once you complete the challenge and verification phases. These include the flexibility to make judgments and the freedom to manage an account up to USD 400,000.
However, even then, you are given two drawdowns, namely a maximum daily loss of $500 and a maximum loss of $1000, to make sure that you are trading attentively.
What Assets are Available For Trading through Your FTMO Account?
We like the level of freedom that FTMO grants its traders. You are free to trade in any manner with which you are most comfortable. Your strategy is not limited or limited by them. Furthermore, there are no restrictions on the kind of transferable assets you can use with them. You may so try your hand at:
Futures, Options, Commodities Indices, Stocks (and so forth).
Additionally, you can employ expert advisors (robots) and have them decide what steps to take for you. However, FTMO has some limitations in this area, limiting the number of positions you may open each day to 2000 and the number of orders you can open to 200.
In that case, the goal is to stop EA hyperactivity. In that case, FTMO’s customer service will contact you and ask you to change the settings on your EA.
Features of FTMO
Gain Access to the Trading Platforms of the FTMO
Navigate to the FTMO Challenge area of your account and select Client Area and Credentials to access the platform for your trading account.
A popup with the login information and the URL to the trading system will then appear right away.
Additionally, you can select a platform from the list below:
Use FTMO Metrix Accounts with Meta Trader 4 and Meta Trader 5. Metrix is a unique online tool that monitors your development as an FTMO trader.
It includes several significant trading statistics and a description of the Trading Objectives.
Monitor Trades Using FTMO Mentor
Using the RSI constraints and restrictions you put up with the Mentor App, you can control your hunger and prevent yourself from overtrading. Both Meta Trader 4 and Meta Trader 5 are compatible.
Trading Education
The FTMO Trading Academy is also accessible through the prop trading firms. It’s a wonderful tool for finding new trading talent, learning about new trading platforms, viewing videos for trading beginners, and more. You can also download trade indicators and expert advisers from your account dashboard.
