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FTMO - For serious traders

  • #2,681
  • Aug 11, 2020 10:25am Aug 11, 2020 10:25am
I am new here and just joined the challenge.

Trading Financial Market without fear
  • #2,682
  • Aug 11, 2020 11:39am Aug 11, 2020 11:39am
Quoting Phronesis24
I am new here and just joined the challenge. Trading Financial Market without fear
Locked away the fear huh!!
Good luck
on a postive roll...
  • #2,683
  • Edited 2:43pm Aug 11, 2020 2:05pm | Edited 2:43pm
Quoting maflip
I remember people notice unusual moves on FTMO-LMAX here. I noticed one too. There's a sudden spike down here not much but this one did not show on other brokers. Something smells fishy here. I hope I'm wrong. M15 traders should be fine there. But, maybe they are targeting M1 trader stop outs??? Spread is terrible on LMAX too. However, spread is great on indices. Terrible, terrible spread on forex. {image}
This is how the same pair looks in Sierra Chart connected to LMAX Demo

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As you can see spread is also quite normal Bid: 80.265, Ask:80.276 (1.1 pip)

I suspect that what FTMO offers is not genuine LMAX price feed or it's being somehow 'manipulated'.
  • #2,684
  • Edited 5:16pm Aug 11, 2020 4:05pm | Edited 5:16pm
Quoting fxmotif
{quote} This is how the same pair looks in Sierra Chart connected to LMAX Demo {image} As you can see spread is also quite normal Bid: 80.265, Ask:80.276 (1.1 pip) I suspect that what FTMO offers is not genuine LMAX price feed or it's being somehow 'manipulated'.
Interesting - interested to read FTMO comment

- Sierra Chart : Not FTMO Demo
- Chart Graphical Ask, Bid & Spread
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TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #2,685
  • Edited 4:36pm Aug 11, 2020 4:21pm | Edited 4:36pm
Quoting fxmotif
{quote} This is how the same pair looks in Sierra Chart connected to LMAX Demo {image} As you can see spread is also quite normal Bid: 80.265, Ask:80.276 (1.1 pip) I suspect that what FTMO offers is not genuine LMAX price feed or it's being somehow 'manipulated'.
Agree, I suspect something is fishy. (Manipulated) keep posting unusual moves like this from FTMO feed. This way if they are doing something shitty everyone will know about it.

Might just be nothing. But this is not the first time someone noticed some unusual price moves on FTMO platform.
  • #2,686
  • Edited 5:36pm Aug 11, 2020 5:13pm | Edited 5:36pm
Quoting maflip
{quote} Agree, I suspect something is fishy. (Manipulated) keep posting unusual moves like this from FTMO feed. This way if they are doing something shitty everyone will know about it. Might just be nothing. But this is not the first time someone noticed some unusual price moves on FTMO platform.
IMO, business of these guys is really fishy.

They started running all on demo accounts, and when they were spotted by the brokers, they switched to "LMAX demo" price feed which is apparently not a LMAX price feed at all, so who knows what price feed it's based on.
Domestic Legal register says about the company they can run non-serious business like e.g. beer tap in the campsite, provide soliciting/door-knocking, or selling Lolli-pops and or running white-knuckle rides. They are not granted tp run prop firm business and services at all.
I know, it's third-party company who wants to stay undercovers. But seriously? I've never had a problem with any other company getting me to know the name of the prop firm staying behind.

Too many ifs and whys, so think if you want spending money with this company.

BTW:
FTMO Capital Holding a.s. with owners capital of 10000,- Crowns / ~400 EUR ;-):
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  • #2,687
  • Aug 11, 2020 5:52pm Aug 11, 2020 5:52pm
I think that if we have doubts, it is better to ask Tomas, they must have an answer, we will all analyze the answers.

Tomas What do you think of the doubts in the thread?
Be happy, friendly, humble and winner!!
  • #2,688
  • Edited Aug 12, 2020 7:01pm Aug 11, 2020 8:12pm | Edited Aug 12, 2020 7:01pm
ABOUT COMPANY

FTMO Evaluation Global s.r.o.
Opletalova 1417/25
110 00 Prague
Czech Republic
ID: 09213651
VAT: CZ09213651

FTMO Evaluation US s.r.o.
Opletalova 1417/25
110 00 Prague
Czech Republic
ID: 09213741
VAT: CZ09213741

FF Trader s.r.o.
Vlkova 2725/34
130 00 Prague
Czech Republic
ID: 03136752
VAT: CZ699005540

The company is registered by the municipal court in Prague, Czech Republic.

source - https://ftmo.com/en/contact/

Sales Revenue vs. Net

Revenue : is the total amount of income generated by the sale of goods or services related to the company's primary operations.
Revenue : also known as gross sales, is often referred to as the "top line" because it sits at the top of the income statement.

Net: Income, or net income, is a company's total earnings or profit (or loss).
Net : Net income, also known as the bottom line, is revenues minus expenses. There is a profit when revenues exceed expenses.
Net : When investors and analysts speak of a company's income, they're actually referring to net income or the profit (or loss) for the company.

source - https://www.investopedia.com/ask/ans...and-income.asp

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source - https://www.dnb.com/business-directo...0s.r.o.&page=1
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source - https://www.ceginformacio.hu/cr9215104712_EN
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #2,689
  • Aug 11, 2020 8:22pm Aug 11, 2020 8:22pm
Honestly this thread really is great to keep some sort of check on FTMO.

I will be following and actively participating with what I know as well.

The most important thing to me is if anyone has any proof of withdrawal or payment from them, that is at the end of the day why we are all using them anyways.

I currently am in phase 1 of my 10k challenge and will update here when completed. I also will update to see if I receive my payment for the challenge back as promised and once I make my first withdrawal I will post here.

Transparency is important to all of us so I look forward to having no issues with FTMO as the opportunity is really a good one for gaining capital for those of us who do not have the starting capital to trade with.
  • #2,690
  • Aug 11, 2020 8:39pm Aug 11, 2020 8:39pm
Quoting viptrading
.....The most important thing to me is if anyone has any proof of withdrawal or payment from them, that is at the end of the day why we are all using them anyways. .....
Objectively - other than facts, I don't give a f one way or the other - forum, review sites and internet video portals host testimonies affirmative of the above - if there was any credible record to the contrary or if any credible record to the contrary is discovered, all hell would have or will break loose.
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #2,691
  • Aug 11, 2020 8:52pm Aug 11, 2020 8:52pm
Smart separation if you ask me. The last thing you need is some noob retailer being upset with FTMO and suing them. Avoid, by all means putting the investor fund at risk or even hurting the image of the investor fund that the funded traders are trading. Look how people flip out just cause the website is under maintenance. YES it was lack of communication and was poorly managed but it was also so obvious that they were making some major upgrades, not running off and disappearing.

Anyway, to each their own. Of course as a client you have the right to complain .

pip away!
The best strategy is a profitable one.
  • #2,692
  • Aug 11, 2020 9:02pm Aug 11, 2020 9:02pm
Quoting Phylo
{quote} Objectively - other than facts, I don't give a f one way or the other - forum, review sites and internet video portals host testimonies affirmative of the above - if there was any credible record to the contrary or if any credible record to the contrary is discovered, all hell would have or will break loose.
Hmm. I guess it can be faked but, I for one have no affiliation with FTMO or reason to do that. I am just using them to get funding like the rest of you here.

Has anyone here even passed the challenge yet and received any withdrawals?

That still is my only concern.
  • #2,693
  • Aug 11, 2020 9:04pm Aug 11, 2020 9:04pm
Quoting Phylo
{quote} Objectively - other than facts, I don't give a f one way or the other - forum, review sites and internet video portals host testimonies affirmative of the above - if there was any credible record to the contrary or if any credible record to the contrary is discovered, all hell would have or will break loose.
Lets be honest though, thats not really true either, is it. Cause the only real way to show someone that they withdrew money is to give you access to their bank accounts or paypal account, which isn't happening. Other than that, all pictures, and as you said testimonials, can be photo-shopped. Yet, you are still interested in trading for them even without all the direct information. So obviously the testimonials work.
The best strategy is a profitable one.
  • #2,694
  • Aug 11, 2020 9:22pm Aug 11, 2020 9:22pm
Quoting fxmotif
{quote} This is how the same pair looks in Sierra Chart connected to LMAX Demo {image} As you can see spread is also quite normal Bid: 80.265, Ask:80.276 (1.1 pip) I suspect that what FTMO offers is not genuine LMAX price feed or it's being somehow 'manipulated'.
Spread on FTMO-LMAX is currently 2.6. But I noticed it fluctuates around 1.8 to high of 2.8 pips. Why is FTMO-LMAX spread higher than real "LMAX"? Are they also milking their investors on pip spread?

This needs to be answered. Why is your spread different from the real LMAX spread? This might seem minor but it can also be a difference between success and failure for FTMO Challengers, also, FTMO needs some explaining on why there are unusual price movements not being seen on other brokers and from real LMAX feed. (There are others who noticed this too)
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  • #2,695
  • Edited 11:32pm Aug 11, 2020 10:55pm | Edited 11:32pm
Quoting maflip
{quote} Spread on FTMO-LMAX is currently 2.6. But I noticed it fluctuates around 1.8 to high of 2.8 pips. Why is FTMO-LMAX spread higher than real "LMAX"? Are they also milking their investors on pip spread? This needs to be answered. Why is your spread different from the real LMAX spread? This might seem minor but it can also be a difference between success and failure for FTMO Challengers, also, FTMO needs some explaining on why there are unusual price movements not being seen on other brokers and from real LMAX feed. (There are others who noticed...
I know you might like an FTMO only response. But I'd love to share something with the forum. People may like to hear things like this?

"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. "

It is NOT uncommon to see firms increase spreads after negotiating cost with a broker. If you want to trade for a firm, regardless of prop or institutional (as a trader no big difference for us), you have to stop thinking like a retail trader so much, and start thinking a bit more like a trader for a firm.

I'll tell you a true story of how I negotiated things in China with an EU broker. Depending on how much capital you bring, leads to different cost. So their raw cost on EU was 0.17-0.2 pips. Anything less and they don't make money. Commission we get them to bring it down to 0.3 pips cost, since they are A-booking (don't even have a license for b-booking), need minimum volume as well which is calculated in yards. 1 yard equals 10k lots. So my total cost, I get it down to around 0.5 pips on EU. Now, what we'd do is add 1.0 pips onto that cost. Why?

Cause investors get a minimum guaranteed return. It usually is never less than 10%. They can get 4% at the bank, so why go to an investment firm with higher risk for not much more? It's usually as high as 15% and I've even seen 18%, so averaging 1.25%-1.5% monthly. This is a guaranteed return in a contract, under law, even if I don't make that amount on the fund. So if I have $20 million AUM(assets under management), I need to have by year end minimum $3 million to $4 million in profit. And you can't wipe it, hell you can't even come close. Be careful with the money or its jail time. Never in a million years are you allowed the type of risk and draw down you see on retail. It has to be fiduciary. Hell, over 95% are failing, you'd be in jail if it weren't your own money. By MIFID II regulations professionals can trade at 1:100. Retail is at 1:33 on FX.

And that is JUST your investors return. You have salaries, including your own. A large enough office is more expensive than people realize. I was NOT in a CBD, just close, so my rent was $0.60 per square meter. 800 square meter office is $175k USD annual rent cost, and thats very low. Plus another 150k in renovations/design of the space. And you want to run your business with a profit, not at cost. And the worst of them all is TAXES. Stop thinking those baby brackets at the bottom of your pay scale.

It cost a lot more to run a firm than hosting your own youtube channel. Most folks probably never even ran a business to really understand it all. I'm not saying this is how FTMO is run. I don't know how FTMO is run behind the scenes, but if its a firm, these basic high cost are all similar and adding a pip onto cost usually isn't a big deal to the trader, but a huge deal for the firm. It's NOT your own personal account that you need to feel you're broker is charging you too much, so stop sweating it. And I don't think they even added a pip, its like half a pip IF they went that route.

What people here are complaining about is the rollover cost can be excessive. Not a few pips excessive but I got SL'd that was over 30 pips away cause of rollover. 5-10 pips during rollover is normal. Not 30 to 50 pips. I trade technical with price and structure. So I don't care about majors vs minors vs exotics, its all the same for me. But its not the same for LMAX, so I'll stay away from the GBPSGD, EURSGD, USEK, or UNOK, pairs like that cause LMAX just can't handle them on rollover and I should be fine.

And I'm looking for long on CADJPY as well, so happy pipping.

AnRan
The best strategy is a profitable one.
  • #2,696
  • Aug 11, 2020 11:36pm Aug 11, 2020 11:36pm
Quoting AnRan
What people here are complaining about is the rollover cost can be excessive.
a low rollover is only provided to the trader when the trader is b-booked, so if you receive a low roll-rollover fee it's because you are b-booked
in fact if you are b-booked you shouldn't be getting a roll-over fee at all....given your trade hasn't left the brokers desk

if the rollover is higher than industry standard this is because the broker actually sends your trade to market, and real interest fees have to be paid...so next time you see a broker with rollovers higher than industry standard it can be a tell that the broker is the real deal

Darwinex and LMAX are known examples of brokers with high rollover fees
  • #2,697
  • Aug 12, 2020 12:08am Aug 12, 2020 12:08am
Quoting AnRan
{quote} Lets be honest though, thats not really true either, is it. Cause the only real way to show someone that they withdrew money is to give you access to their bank accounts or paypal account, which isn't happening. Other than that, all pictures, and as you said testimonials, can be photo-shopped. Yet, you are still interested in trading for them even without all the direct information. So obviously the testimonials work.
Lets be honest.......your posts detailing your numerous newbie bloopers are quiet revealing......
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #2,698
  • Edited 12:49am Aug 12, 2020 12:21am | Edited 12:49am
Quoting Le.Metier
{quote} a low rollover is only provided to the trader when the trader is b-booked, so if you receive a low roll-rollover fee it's because you are b-booked in fact if you are b-booked you shouldn't be getting a roll-over fee at all....given your trade hasn't left the brokers desk if the rollover is higher than industry standard this is because the broker actually sends your trade to market, and real interest fees have to be paid...so next time you see a broker with rollovers higher than industry standard it can be a tell that the broker is the real...
I'm sorry but that is complete BS. Your broker can B book you and your LP has nothing to do with it. And many brokers can B-book without manipulating. They don't need to manipulate cause retail failure is high enough all on its own. Ever actually talk to someone at a dealing desk? Lots of traders aren't B-booked every day. You can be A-booked today, B-booked tomorrow. It's not your always A or B. If you're not actually sure or don't really know how it works, don't spread disinformation. This is the curse of the retail environment.

LMAX rollover spreads are high cause it doesn't have a larger presence in Asia with MTF. Asia is huge with ECN. The biggest drawback of MTF are the spreads. Giving it a larger drop in liquidity compared to some other LP's. Better market execution though, just not that rollover hour. Where it does large cash flow, like their Shanghai server, is separate from all western liquidity. It's internal cause of Chinese regulations maintaining cash within the country. They made a big push in Asia last year. I'm sure COVID doesn't help.

If you are talking about a SWAP fee, everybody has a swap fee cause there is a swap market, lol. The exchange rate you get at the bank is drawn directly from that market. In fact, swaps are higher than ever cause with all the new margin requirements, its how LP's are making up the lost revenue. Major banks have the highest swap fees by far, private LP's are lower. This FTMO LMAX server has very low swap fees which is WONDERFUL. Maybe they have a FIX API, so paying on the net exposure of positions rather than each funded traders individual positions. Or maybe they lowered it on the demo, but not the real, so it doesn't eat towards our total allowable DD, which is nice of them. But it has NOTHING to do with being STP or not.
The best strategy is a profitable one.
  • #2,699
  • Edited 12:36am Aug 12, 2020 12:22am | Edited 12:36am
Quoting Phylo
{quote} Lets be honest.......your posts detailing your numerous newbie bloopers are quiet revealing......
haha, hear hear. Just transparency. And they aren't "noobie", just mistakes. The testimonials and youtube videos worked for me. Thats all I'm saying. . But you are right, at least there are zero videos saying the opposite.
The best strategy is a profitable one.
  • #2,700
  • Aug 12, 2020 12:31am Aug 12, 2020 12:31am
Hello guys,

On their website under the FTMO solution it is claimed that there is no commission charge on indices/commodities & $3 on Forex. Currently the Free Trial they offer does not reflect this statement.

So does any one have first hand experience of no commission on indices/commodities either with a paid challenge or preferably as a funded FTMO trader?

Thanks
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