FTMO trading review: FTMO is a proprietary trading firm that has been operating on the financial markets since 2015. Another sign of trust: many trading review sites publish fairly encouraging FTMO reviews. With thousands of registered traders, FTMO intends to keep growing. In this article, discover our verdict on this firm.
Our FTMO Review – Can You Trust FTMO?
FTMO has been active in trading since 2015. Since then, it has worked hard to recruit many exceptionally talented traders. These traders have proven themselves to the firm by becoming FTMO traders and generating profits for the company — profits they also benefit from, as shown by the 70% they receive on every positive return.
FTMO no longer needs to earn our trust, as the many traders who have passed both stages of the challenge evaluation now tell anyone who will listen about the benefits of trading with FTMO. With FTMO, there is no more worrying about having too small a budget to trade the financial markets: FTMO covers your losses. It is up to you to do everything you can to make gains while following the trading rules set by the firm.
If this topic interests you, also read “Trading 212 Review” and “CM Trading Review”.
Instruments Offered by FTMO
FTMO gives you complete freedom over the instruments and trading styles you use. Whatever type of trading you do with FTMO, you have total freedom of action.
The instruments offered by FTMO are:
- Forex: around 44 currency pairs;
- Index CFDs: around 14 indices;
- Futures CFDs: 4 futures CFDs;
- Metal CFDs: silver, gold, palladium, platinum;
- Cryptocurrency CFDs: Bitcoin, Ethereum, Dash, Litecoin.
- Stock CFDs: 13 stocks.
FTMO Leverage
The leverage offered by FTMO is 1:100 for Forex by default. You can choose to lower it, but with FTMO it is not possible to get leverage higher than 1:100. To lower your leverage, you need to submit a request and wait for it to be approved. Then make sure the new leverage you chose is actually the one in effect.
FTMO Regulation
FTMO is a trading firm that provides capital to its traders. Based in Prague, it is registered with the Municipal Court in Prague, Czech Republic. FTMO also works with companies to which it outsources certain operations; these are regulated by the FCA and CySEC.
Is FTMO Available in France?
The broker FTMO is headquartered in Europe. The firm has no branches in France, but traders living in France can sign up on its website. Simply go to the site and fill in the various forms provided.
FTMO Deposits and Withdrawals
Before making a deposit with FTMO, you first need to choose the FTMO trading style you will adopt. You then pay the amount corresponding to the plan you have chosen. You also need to have your account verified before starting any trading.
Deposits at FTMO are processed instantly. Withdrawals are another matter. First, once you complete the 2 evaluation stages, the fees you paid for the evaluation are refunded in full. Then, when you trade with FTMO and make profits, FTMO pays you 70% of them. You receive these payouts every 30 days, i.e. once a month.
Deposits and withdrawals are made using the payment methods offered:
- Visa and MasterCard
- FTMO Challenge
- Bank transfer
- Skrill
FTMO Trading Accounts
- Standard account: there is no time limit for the evaluation phase (passing both stages). However, on a funded account, it is strictly prohibited to open or close trades within 2 minutes before or after a news release. All trades must be closed before the end of the week.
- FTMO Swing: designed specifically for traders who hold positions for several days, this account has reduced leverage of 1:30. No particular restrictions apply.
FTMO Fees in November
The fees represent a small percentage of your FTMO account and serve as traders’ commitment to manage their account with the greatest care. FTMO covers all potential losses and refunds the fees you paid with your first profit on the FTMO account.
The fees also cover the use of FTMO’s own apps, so you will not have to pay anything extra to use them. Depending on the account size and type you choose, the refundable fees rise as follows:
- $155;
- $250;
- $345;
- $540;
- $1,080.
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FTMO has 5 analysis tools: the MetriX account, the Statistics app, the Mentor app, the trading journal and the account analysis.
- MetriX
- Statistics app
- Mentor app: an FTMO app that strengthens traders’ discipline by making them follow their own rules and risk limits to achieve better results.
- Trading journal
- Account analysis
FTMO Education
FTMO offers video courses on YouTube that are open to everyone. The firm also runs an evaluation programme during which you learn everything you need to perform well on the markets and become an FTMO trader. You also have a performance coach who makes sure you are actually making progress.
FTMO Trading Platforms
- MetaTrader 4: the most popular FTMO trading platform. It is available on operating systems such as Linux, macOS and Windows.
- MetaTrader 5: on this platform, you get even more assets and more powerful tools. It runs smoothly, and the trading environment is extremely intuitive.
- cTrader: cTrader is another trading platform. Its advantage is that it is highly customisable.
How to Contact FTMO Customer Service
FTMO’s customer service is very effective and unusually responsive. First of all, it is available to help you 24/7. The team is also very courteous and polite with clients. Better still, FTMO customer service can communicate in 13 different languages.
Contacting FTMO is quite easy, and you have several options. For example, you can use the contact form in the “Contact” tab of the official FTMO website. Filling in the form sends an email to the firm.
- Chat: available 24/7.
- Phone: +442 033 222 983
How to Become an FTMO Affiliate
Becoming an FTMO affiliate is not complicated. Simply go to the section dedicated to this option, where you will find a form. Fill it in and send it to FTMO. Once your request has been processed, FTMO will get back to you to fine-tune the terms of your contract. The contract is located just below the form you need to fill in.
By joining the FTMO affiliate programme, you will benefit from:
- A bonus for each new trader referred;
- A range of referral methods;
- All the tools and documentation needed to succeed.
FTMO vs Vantage
- FTMO: registered with the Municipal Court in Prague, Czech Republic. It offers the following assets: Forex, commodity CFDs, index CFDs, futures, stock CFDs and cryptocurrency CFDs. You can deposit from €155.
- Vantage: this broker is regulated by ASIC and the FCA. The available platforms are MT4, MT4 & MT5 WebTrader (MetaTrader Web Trader), Vantage App, MetaQuotes App, ZuluTrade, DupliTrade and Myfxbook AutoTrade. You can deposit from €200.
FTMO Pros
- A platform with several years of experience
- Provides comprehensive support to its traders
- Charges almost no fees
- Offers many payment methods.
FTMO Cons
- Favours experienced traders
- Only keeps traders with the best results.