FTMO Challenge & Max Drawdown Issue | Forex Factory

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FTMO Challenge & Max Drawdown Issue

  • #1
  • First Post: Mar 12, 2020 1:15pm Mar 12, 2020 1:15pm
Hello fellows,

I stepped in to make the challenge at FTMO.

Problem came right away; nearly 5 days after I begin it. I used an EA that has a strict money management risk.

FTMO related that my $50000 account when beyond the $2500 of max drawdown and close the challenge.

I check the detailled statements and saw that the account was negative of a bit more than 1K.

The statement did not related such a massive drawdown.

So...the question is: can I trust the statement given by MT4 for the given period ?

Is it normal that FTMO does not answer to me anymore ? Aren't they able to check the day, the hours and the asset concerned by the max drawdown ???

No answer at all !

I am still wondering which path to follow as I might missed a train to fully understand how to check in depth the situation.

It could be also an issue from the broker demo account as FTMO works with 10 different brokers and for the Challenge one has to choose one of them, using MT4 platform.

Thanks for your nice feedback that might help to clarify the situation.

Check file attached.

Besides, a $50000 challenge is sold more than 300€ so it is not a joke !!

If they have chosen to behave like cowards, then you will know not to step in like I did.
Attached Image (click to enlarge)
Click to Enlarge Name: FTMO - Statements & Challenge Issue.png Size: 22 KB
  • #2
  • Mar 12, 2020 2:01pm Mar 12, 2020 2:01pm
Their brokers are crap. They do massive slippage even on demo account. I dont understand why there is a slippage on a demo account. ThinkMarkets (slippage even in demo) Purple Trading bad spread and slippage even on demo. ICMarkets (sometimes freeze you cant trade.) XM (spread is a joke its so bad) If you are a scalper wont work for you with these kinds of brokers. ICMarkets supposed to be good maybe it was just that day their platform is freezing. But I noticed ICMarkets is not in their brokers anymore. Problem is I think FTMO does not allow holding positions overnight so you gotta be a scalper or intraday swing trader. But with the brokers being so bad with spread and they slip you even on demo good luck with that lol.

Not sure if these brokers are rigged for FTMO so that more will fail the challenge or what. I dont know lol. But if you are a scalper dont bother taking the challenge since their brokers are bad for scalpers due to ridiculuos bad spread.

Also, my wife passed the challenge but failed verification due to a bad slippage ON A DEMO. LOL. Her fault for over leveraging but she should not have been kicked out of verification if it wasnt for slippage. (ON DEMO)

Now I just setup my wife with a $500 account no more trying with these trading firms. I guide her 1 day on 1 day off. I suspect these prop firms have something rigged with their brokers lol. ( No proof just a gut feeling) Some still pass the challenge but how long do they stay in?
  • #3
  • Mar 12, 2020 2:16pm Mar 12, 2020 2:16pm
Quoting lifespirit
Hello fellows, I stepped in to make the challenge at FTMO. Problem came right away; nearly 5 days after I begin it. I used an EA that has a strict money management risk. FTMO related that my $50000 account when beyond the $2500 of max drawdown and close the challenge. I check the detailled statements and saw that the account was negative of a bit more than 1K. The statement did not related such a massive drawdown. So...the question is: can I trust the statement given by MT4 for the given period ? Is it normal that FTMO does not answer to me anymore...
Your open position may have gone past max daily draw down then came back up and you closed it for -1k+ loss. However, my opinion is to not try the challenge with them anymore. Something smells rigged with them as I mentioned above or any other prop trading firms. Just my opinion....
  • #4
  • Nov 26, 2020 7:46am Nov 26, 2020 7:46am
Quoting maflip
Their brokers are crap. They do massive slippage even on demo account. I dont understand why there is a slippage on a demo account. ThinkMarkets (slippage even in demo) Purple Trading bad spread and slippage even on demo. ICMarkets (sometimes freeze you cant trade.) XM (spread is a joke its so bad) If you are a scalper wont work for you with these kinds of brokers. ICMarkets supposed to be good maybe it was just that day their platform is freezing. But I noticed ICMarkets is not in their brokers anymore. Problem is I think FTMO does not allow holding...

Thank you for your info, hope many traders realize these kind of shaddy challenge
  • #5
  • Nov 26, 2020 9:00am Nov 26, 2020 9:00am
Quoting Ryanfrc
{quote} Thank you for your info, hope many traders realize these kind of shaddy challenge
Smh, you're replying a comment that was made 7 months ago. Have you bothered to find out conditions are better 7 months later?
  • #6
  • Last Post: Nov 26, 2020 4:32pm Nov 26, 2020 4:32pm
Quoting lifespirit
Hello fellows, I stepped in to make the challenge at FTMO. Problem came right away; nearly 5 days after I begin it. I used an EA that has a strict money management risk. FTMO related that my $50000 account when beyond the $2500 of max drawdown and close the challenge. I check the detailled statements and saw that the account was negative of a bit more than 1K. The statement did not related such a massive drawdown. So...the question is: can I trust the statement given by MT4 for the given period ? Is it normal that FTMO does not answer to me anymore...
Take your money and do your own trades. If you are able to do their challenge sucessfully then you should definitly be abble to do your own trades. For me those prop firms are just bullshit to take your money away...
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