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FTMO - For serious traders

  • #2,581
  • Aug 5, 2020 8:37am Aug 5, 2020 8:37am
Quoting leweg1
clearly they are getting to big for their boots. customer service issues = first sign of failure

Yes, they almost treat you with arrogance and disrespect.
  • #2,582
  • Aug 5, 2020 8:40am Aug 5, 2020 8:40am
Quoting mrdfx
{quote} So after 8 hours of waiting I gave up on live chat and after 16 hours they did eventually reply to my email. Apparently I need to reset my password to sign up. So to sign up a new account i needed to reset my password for an account I haven't registered for yet? Makes total sense. Anyway I did the password reset using the email I intended to use and was able to finally register a trial account. A very weird work around, which is not clear on the website.

You are lucky my emails are still unanswered 38 hours later
  • #2,583
  • Aug 5, 2020 8:47am Aug 5, 2020 8:47am
Quoting Traderstylo
Hiii All my name is Jamal Abdullah from Malaysia and I am a FTMO Trader and has already passed the challenge and verification. . FTMO is an excellent method for profitable traders who need funds. They respond to emails very quickly, the rules are just about risk management, it really makes sense, and there are no restrictions at all, they let you basically be free to trade whatever you want and in the way you want as long as you have the risk proper Management system. . They have the best profit distribution I have seen so far (70/30). They have...
It looks fancy, it looks like a review designed by?, One with a VPN can create the accounts you want in the forum, you can do fantastic reviews, like in trustpilot and Forex peace army, here in this forum are people really fighting and we are real.
but you have the benefit of the doubt
Be happy, friendly, humble and winner!!
  • #2,584
  • Aug 5, 2020 9:18am Aug 5, 2020 9:18am
Quoting CeeSo
{quote} You are lucky my emails are still unanswered 38 hours later
I waited for an hour to chat to them a couple of days ago. Eventually gave up. They then sent me an email later on that day. Not sure what is going on but I believe they have been upgrading their systems. Not sure why this affects their email/online support staff however.
  • #2,585
  • Aug 5, 2020 9:31am Aug 5, 2020 9:31am
Quoting Carpark
I'm currently doing the demo challenge and wondering if anyone else out there is having problems over the last week or so with their maximum daily loss limit? I'm sure mine is calculating incorrectly as my DD on open trades (and closed losing) trades has never been more than -700USD.
I've had my fun with the trial demo, a couple of unusual spikes but nothing too out of the ordinary and the spread although not as good as the top retail providers is workable on the majors, other symbols are a different story.

Now the plan is to kick off with the challenge, but after hearing the latest login delay issues might be wise to either start with 1 challenge and then keep adding the others as each is activated.

Might wait on the sidelines for the time being though and wait to hear how you guys are going with new accounts.

Not great hearing about the support being so poor.

Hmmmm ....

Masterrmind ..........
Master your Mind then Master your Trades
  • #2,586
  • Aug 5, 2020 10:19am Aug 5, 2020 10:19am
Hello everyone. This my first post here and also on Forex Factory and I feel like I should add a few things to the discussion on support issues.

I found out about FTMO about a year ago and thought it was a very nice proposition. Back then, support was quite frankly amazing. I would call them through skype (a feature that I think is no longer available, though don't quote me on that) and the people there would always answer my question rather thoroughly.

In April of this year, I bought my first challenge. I haven't been able to pass yet and I will now go on to my third repeat (not the best situation, but at least I've always been able to end in a profit). Before this week, the only time I had to contact the support team was late May. The service was still quite good and the person who helped me was very much able to solve my problems.

This week (Monday to be more precise), however, I went on what I can safely say to be a not so pleasant ride! I was having some technical issues with my account and so I had to look for support. I first tried to use the live chat feature. I was number 60 and it was quite close to their closing time. However, to see if the problem could be solved, I called their phone number and, even though it was still business hours it said that I should call during business hours. I then fill a contact form on the account metrix, which is still to be answered by their team!

The next day, I call them at around 11 am London and I'm able to get through to someone. They were helpful and they created a support case that would be sent to the technical department, I believe. A few hours later, I get an email regarding my problem. They offered a solution to my problem and I called again today to discuss the next steps. I first called at around 11:45 am London and the recording gave me the same thing of calling during business hours. I tried calling again a bit after 12:05 pm London and I'm able to get through to someone who was very professional and familiarized with my situation quite quickly and with whom I could discuss.

My experience with their support has not been the best, in recent times. But I think I can say that it wasn't as bad as some of the stories I've read here.

I hope this is simply a consequence of a rapid growth of the company's popularity and that it will be solved as soon as possible.


jgolden
  • #2,587
  • Aug 5, 2020 12:23pm Aug 5, 2020 12:23pm
anyone seen this new update just FYI
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  • #2,588
  • Aug 5, 2020 12:42pm Aug 5, 2020 12:42pm
Quoting leweg1
anyone seen this new update just FYI {image}
Educational activities?
I wonder where is our rep for FF Tomas?
Not looking good
on a postive roll...
  • #2,589
  • Aug 5, 2020 12:51pm Aug 5, 2020 12:51pm
Quoting Rmg
{quote} Educational activities? I wonder where is our rep for FF Tomas? Not looking good
i quote from the website

"starting from August 1, 2020, will no longer accept new membership applications nor will be organizing any educational activities of the association as of this date."

"Therefore, please note that if you place an order on this website for new services, you are entering into a contract with the new provider."

i see FF Thomas in here regularly but i guess he gathers enough things to write back to rather than comment daily
  • #2,590
  • Aug 5, 2020 1:02pm Aug 5, 2020 1:02pm
Quoting leweg1
{quote} i quote from the website "starting from August 1, 2020, will no longer accept new membership applications nor will be organizing any educational activities of the association as of this date." "Therefore, please note that if you place an order on this website for new services, you are entering into a contract with the new provider." i see FF Thomas in here regularly but i guess he gathers enough things to write back to rather than comment daily
New provider..... Hmmm.... What would that actually mean...
  • #2,591
  • Aug 5, 2020 1:10pm Aug 5, 2020 1:10pm
Quoting Patje
{quote} New provider..... Hmmm.... What would that actually mean...
Allergic to bullshitters, never argue with fools
  • #2,592
  • Aug 5, 2020 1:11pm Aug 5, 2020 1:11pm
All the paragraph is saying is they've separated the prop firm section of the company with the educational providing side of it. It's to cover their own liability. It DOES NOT say they aren't accepting new clients for challenges, etc.

Its interesting because historically prop firms gave their traders all the training, and then let them go trade. But they also weren't like mini-white label firms. Potential conflict of interest. Either way, I'm sure they have a good reason and it doesn't really affect anyone from the funded trader perspective. Just a legal notice.
The best strategy is a profitable one.
  • #2,593
  • Aug 5, 2020 1:15pm Aug 5, 2020 1:15pm
Quoting leweg1
anyone seen this new update just FYI {image}
It appears FTMO is crashing down. I am aware they modeled their contract in the Terms of Use as providing trading education but it appears now they placing emphasis on it more and more for whatever reason.

No one was paying them the $600+ for 'trading education' so they should come clear with what's the next step.
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FTMO cso, and FF Trader s.r.o. are not a broker and do not accept deposits

So who is receiving the challenge fees that are been paid?
I have also seen Thomas online a couple of times and he comes to say nothing. This is a shitshow all around.

Clarifications are seriously needed.
  • #2,594
  • Aug 5, 2020 1:41pm Aug 5, 2020 1:41pm
Quoting newegg
{quote} This is a shitshow all around. Clarifications are seriously needed.
What? Lol.

I have traded for several firms before, in person/in offices, not just online. I was trading 7 figures before the whole covid outbreak. You come in, you get your desk,you are given an account, and you trade. How is it that their business structure is any traders concern? It's not. What they deem educational, non-educational, that could all be for tax purposes or liability purposes. Who knows? Who cares? You are the trader, not management, so don't over-think it.

One last thing, there are less and less prop firms because the structure just doesn't work as well as before (understandably leading to more trading restrictions). Especially as the "race to zero" on commissions makes firms downside risk higher. So its good to see that, not only is FTMO doing well, but also looking for more talented traders.
The best strategy is a profitable one.
  • #2,595
  • Aug 5, 2020 2:01pm Aug 5, 2020 2:01pm
Quoting AnRan
{quote} What? Lol. I have traded for several firms before, in person/in offices, not just online. I was trading 7 figures before the whole covid outbreak. You come in, you get your desk,you are given an account, and you trade. How is it that their business structure is any traders concern? It's not. What they deem educational, non-educational, that could all be for tax purposes or liability purposes. Who knows? Who cares? You are the trader, not management, so don't over-think it. One last thing, there are less and less prop firms because the structure...
I think you are right. It is none of our business how they structure their company but I do think they should inform us before they do these major changes because we are getting caught in the crossfire.

Clearly they are growing and changing very quickly but how you handle your clients during these changes does speak volumes for future trust.
  • #2,596
  • Aug 5, 2020 3:28pm Aug 5, 2020 3:28pm
Quoting AnRan
{quote} What they deem educational, non-educational, that could all be for tax purposes or liability purposes.
If you go through the thread history, I made a similar comment few pages back so yeah, I get you.

Quoting AnRan
{quote} You are the trader, not management, so don't over-think it.
That's where you get it wrong. FTMO was working fine until a few days ago. The shitty customer service, the weird account reset, payment for challenge and waiting days to receive logins are all coming up in the last few days. And it is the same period that they've decided to highlight the fact that they are an educational institution not just in their terms of service, but right in the homepage of their website.

If you are a trader, what you risk is the fee of the challenge but that doesn't mean you shouldn't do any DD to know if the firm will be available tomorrow. You may not worry about how it is ran but how it is ran is what determines whether your reward will be paid or not.

I personally had to reset my account password to be able to login though I am a non-paying customer so I didn't need to come pile on to the challenges others are facing.

The above factors coupled with the removal of all other brokers except LMAX and the silence from FTMO so far will make me cautious of conducting business with such an institution that I don't know will survive tomorrow especially when their regulatory status means that you have no recourse to what ever is due you should shit hits the fan.

But then again, all your risk is your challenge fee, that is if your time is worth nothing, so what gives.
  • #2,597
  • Aug 5, 2020 3:32pm Aug 5, 2020 3:32pm
Quoting newegg
{quote} If you go through the thread history, I made a similar comment few pages back so yeah, I get you. {quote} That's where you get it wrong. FTMO was working fine until a few days ago. The shitty customer service, the weird account reset, payment for challenge and waiting days to receive logins are all coming up in the last few days. And it is the same period that they've decided to highlight the fact that they are an educational institution not just in their terms of service, but right in the homepage of their website. If you are a trader,...
I agree with you on the above. DD is a must .

I also stated that in my opinion, the reason that only LMAX available, FTMO are making money on the spreads, which is contrary to the benefit of the trader.
  • #2,598
  • Aug 5, 2020 3:56pm Aug 5, 2020 3:56pm
Quoting newegg
{quote} If you go through the thread history, I made a similar comment few pages back so yeah, I get you. {quote} That's where you get it wrong. FTMO was working fine until a few days ago. The shitty customer service, the weird account reset, payment for challenge and waiting days to receive logins are all coming up in the last few days.

And it is the same period that they've decided to highlight the fact that they are an educational institution not just in their terms of service, but right in the homepage of their website.
So I personally separate the two. The first part of what you said refers to having good customer service. Being an accountable business. I don't disagree with you on that, at all. But needing more information on how they are going to start separating their LLC's? Regulations usually go by AUM (assets under management). They could've just gotten a larger client and are making this change quickly? And, imo, it's pretty obvious that they are expanding it in a positive way cause now they are offering two more currencies and improved the website layout.

I just don't see how this side of it has anything to do with what TRADERS are actually looking to achieve, and its led to people asking for full back-office/internal explanations, which is hilarious. But, sure, they could be handling it much better. I'll let them handle their own heat on this.

My password didn't work either. I never emailed CS, i just went straight to resetting it and I literally logged in, in about 2 minutes. My immediate thought was that it probably got lost cause of the design change. My failed challenge login on MT4 also stopped working. At first I thought it was cause of my review post, haha.

Quoting driven18
{quote} I agree with you on the above. DD is a must . I also stated that in my opinion, the reason that only LMAX available, FTMO are making money on the spreads, which is contrary to the benefit of the trader.
They have no choice. Until they get enough good traders they need something to decrease their downside risk. Retail traders complain the most about spreads. Every firm I worked at negotiated lower spreads then added a little. It's free money and helps cover risk.
The best strategy is a profitable one.
  • #2,599
  • Aug 5, 2020 4:24pm Aug 5, 2020 4:24pm
Quoting newegg
{quote} If you go through the thread history, I made a similar comment few pages back so yeah, I get you. {quote} That's where you get it wrong. FTMO was working fine until a few days ago. The shitty customer service, the weird account reset, payment for challenge and waiting days to receive logins are all coming up in the last few days. And it is the same period that they've decided to highlight the fact that they are an educational institution not just in their terms of service, but right in the homepage of their website. If you are a trader,...
I agree with the spirit of this post. I personally had a few brokers go bankrupt on me and the process of getting my money back was excruciating. There were several red flags that I ignored in the early days.

I get the fact that we are only risking our challenge money and that is why I think FTMO is an amazing opportunity however we are also risking a lot of time and energy.

Red Flags should never be ignored and I think we as a community must stick together and if a company is still not responding to our questions we should continue to ask why.

It is going on 56 hours now since I paid them for my challenge. That is a big problem that I would think other traders would like to hear about before they commit any funds.
  • #2,600
  • Aug 5, 2020 5:28pm Aug 5, 2020 5:28pm
To AnRan

Have you checked your spam folder?

I just purchased 50 K challenge, and I got my credentials in 10 minutes after purchase, and they
ended in spam folder.
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