One of the top proprietary trading companies in the world is FTMO. This prop trading service, which has over 10,000 traders globally and large profit percentages of up to 90%, is rapidly expanding and well-known in the sector. Prop trading is an excellent approach to profit from developing financial markets and boost earnings with no risk. Forex, cryptocurrency, commodities, indices, and stocks are popular trading assets.
Best 3 FTMO Broker Reviews
Here are the Top 3 customer reviews of FTMO broker:
1. Zlatan Dvorak, ( trader, Prague)
Unfortunately, I failed the second stage, even though it was entirely my fault. The $1,000 target profit is lower than it first appears. You must labor for at least ten days before the company will allow you to trade within 30 days. A 10% return is simple if you carefully apply the Martingale approach to begin trades on extremely risky cryptocurrencies. My error was that I became very passionate and thrilled about cryptocurrency. It would have made sense to convert to less hazardous assets in the second stage when there were more dependable needs for the target profit. But I could have done better at the daily loss cap, even though I thought cryptocurrency was the perfect tool. I generally suggest trading cryptocurrencies from the beginning of the process on a solid fundamental trend to quickly turn a profit. Don’t take a chance on the second stage.
2. Timur Rudnitsky, trader, Bratislava
I advise starting a Swing account immediately. The FAQs section provides a thorough description of this kind of account. Its benefits include the absence of trading restrictions, in contrast to standard charges that limit the number of times trades can be held in the market, and the use of fundamental analysis in trading decisions. Additionally, you can unintentionally break the law if you occasionally neglect to read news releases.
3. Samuil Novak, (professional trader, Brno)
I prefer to avoid the way the verification procedure is organized and the lack of options at FTMO. Trading conditions are set up so that the trader immediately fails the test. Traders can trade for up to 90 days. It’s great that there is a predetermined minimum of 20 days for the two levels of verification. The established profit objectives and loss caps equal 10% of the initial amount. It encourages starting trades within risk management with a risk of up to 2% for each transaction, on the one hand, while also teaching discipline.
On the other side, hundreds of strategies call for a 20% or more significant drawdown followed by a quick surge in deposits. This means that the trader needs access to rapid acceleration methods in advance, and I will again stress that it is only possible to complete some duties in 20 days. Another “feature” of the prop company that encourages you to take huge risks is leverage up to 1:100. Although it is not required, who can resist the temptation?
Is the FTMO broker governed?
No, the FTMO broker is not a broker or dealer and is not subject to any oversight from authorities or regulatory bodies. One of the reasons traders continue to use demo accounts is this.
What is funded trading?
Funded trading enables traders to profit from the capital of other companies without putting their trading account in danger. Long-term success, however, necessitates a high level of expertise in the financial markets.
How Can I Become a Funded Forex Trader?
Individuals must engage in a specific funded trading program or training course offered by their favorite firm to become sponsored traders. It is assumed that a trader has acquired the fundamentals of trading throughout the allotted 6-month period. The potential trader must pass a test after completing the training to show that they can responsibly manage the trading firm’s money and other assets. The length of the “Evaluation Period” and “Verification Period,” which many businesses divide into, can range from 8 days to a year.
For swing traders and forex brokers, FTMO is one of the top prop firms. The price is fair and transparent, the evaluation is objective, and the profit splits are among the highest in the sector. Overall, this proprietary trading company is great if you want to trade big accounts without risking your own money.