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Attachments: FTMO.com - Funding for serious traders
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FTMO.com - Funding for serious traders

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  • Post #4,421
  • Quote
  • Nov 1, 2020 7:08pm Nov 1, 2020 7:08pm
  •  AnRan
  • Joined Aug 2020 | Status: Member | 169 Posts
Quoting OutThere
Disliked
{quote} Yah, that would be great if the funding companies would publish their stats on how many winners/losers and how much was paid out but it is never going to happen. 1 buck profit split posts are going to be meaningless but if that is what does it for you, good on you.
Ignored
Well, FTMO has stated they have a fail rate of about 92%. So it's not a secret. Thats also in line with European brokerages which are about 85% (you can easily look this up with the implementation of ESMA regulations in 2017). But you can't blame FTMO for that. People should take responsibility for their own abilities. If they are lying to themselves that they can pass the challenge even though their own trading history disagrees, how is that FTMO's fault?

I like CTI as well. And, as it seems you've done, you realized that CTI is a better fit for you cause you don't have this 1 month problem for 10%, you don't have a time constraint (1 year is plenty of time), you can hold over the weekends and trade news. You are making a mature, informed decision about where you would like to apply your skills. But none of that makes FTMO a scam or a bad company simply because certain restrictions don't match your trading mentality or focus.

I was looking at Enfoid, which is very similar to FTMO, but their news, for example, on UK CPI is avoiding ALL FX for 5 minutes, where FTMO is focused on just avoiding GBP for those 2 minutes. So I stayed away from Enfoid. But I don't think they are a scam, especially with their swingfish or whatever its called they have going on where they can prove it with a trading history and people end up with funding while not paying a dime. It just doesn't work for me.

I just think everyone can do to be a bit less negative. FTMO isn't bad when you really think about it. Just 2 real restrictions, news and weekends. Compared to a company like FidelCrest, they don't have secretive restrictions that most traders won't understand to purposely cause you to fail the evaluations. I think negativity should be focused on whether or not they pay out, and to date we can't see any situations where they haven't paid people out their share, or came up with ridiculous claims to take away profits. That's where the focus should be, not where inadequate traders keep attempting a challenge because they are lying to themselves about their trading abilities.
The best strategy is a profitable one.
6
  • Post #4,422
  • Quote
  • Edited at 11:10pm Nov 1, 2020 7:51pm | Edited at 11:10pm
  •  OutThere
  • Joined Aug 2018 | Status: Member | 2,182 Posts
Quoting AnRan
Disliked
{quote} Well, FTMO has stated they have a fail rate of about 92%. So it's not a secret. Thats also in line with European brokerages which are about 85% (you can easily look this up with the implementation of ESMA regulations in 2017). But you can't blame FTMO for that. People should take responsibility for their own abilities. If they are lying to themselves that they can pass the challenge even though their own trading history disagrees, how is that FTMO's fault? I like CTI as well. And, as it seems you've done, you realized that CTI is a better...
Ignored


I never really called FTMO a scam but in my view some of their restrictions are unnecessary. I can't change them and I don't have to. Like any shopper, I'll just take my business elsewhere.

Thanks for the explanation.


Edit: Wow, a fail rate of about 92%.
win/win.....for the house.
Just a matter of finding the equilibrium or the range of it.
  • Post #4,423
  • Quote
  • Nov 1, 2020 8:38pm Nov 1, 2020 8:38pm
  •  doyathink
  • | Joined Sep 2010 | Status: Member | 116 Posts | Online Now
Just started a new free trial...

Can't sign on the server. Tried multiple restarts, refresh, new account stream...
using the new FTMO-Demo server...

anyone else experiencing this or similar?
  • Post #4,424
  • Quote
  • Nov 2, 2020 1:29am Nov 2, 2020 1:29am
  •  Barnell
  • | Membership Revoked | Joined Oct 2020 | 1,823 Posts
Quoting doyathink
Disliked
Just started a new free trial... Can't sign on the server. Tried multiple restarts, refresh, new account stream... using the new FTMO-Demo server... anyone else experiencing this or similar?
Ignored
Good luck..
I will tear the world apart for you.
1
  • Post #4,425
  • Quote
  • Nov 2, 2020 1:42am Nov 2, 2020 1:42am
  •  doyathink
  • | Joined Sep 2010 | Status: Member | 116 Posts | Online Now
Quoting doyathink
Disliked
Just started a new free trial... Can't sign on the server. Tried multiple restarts, refresh, new account stream... using the new FTMO-Demo server... anyone else experiencing this or similar?
Ignored
ah... it's okay now.
  • Post #4,426
  • Quote
  • Nov 2, 2020 1:50am Nov 2, 2020 1:50am
  •  AnRan
  • Joined Aug 2020 | Status: Member | 169 Posts
Quoting doyathink
Disliked
{quote} ah... it's okay now.
Ignored
Just want to clarify with you. It's okay now because the challenges are still on the FTMO-Server, only the free trials went to that demo account. I just logged in to check the economic calendar for the week and saw the message at the top. That was my understanding, only the free trial accounts were migrated.
The best strategy is a profitable one.
  • Post #4,427
  • Quote
  • Nov 2, 2020 1:55am Nov 2, 2020 1:55am
  •  Dariusfxlife
  • | Joined Feb 2019 | Status: Member | 20 Posts
Hi guys, not sure what happened with FTMO demo account, but today the minimum lot is 0.10 instead of 0.01. Anyone aware of the issue?
  • Post #4,428
  • Quote
  • Nov 2, 2020 2:06am Nov 2, 2020 2:06am
  •  doyathink
  • | Joined Sep 2010 | Status: Member | 116 Posts | Online Now
Quoting AnRan
Disliked
{quote} Just want to clarify with you. It's okay now because the challenges are still on the FTMO-Server, only the free trials went to that demo account. I just logged in to check the economic calendar for the week and saw the message at the top. That was my understanding, only the free trial accounts were migrated.
Ignored
Yes...
challenges still on FTMO-Server...
I'm halfway through one. Up 4%.

Free trials are now on FTMO-Demo.
2
  • Post #4,429
  • Quote
  • Nov 2, 2020 2:08am Nov 2, 2020 2:08am
  •  doyathink
  • | Joined Sep 2010 | Status: Member | 116 Posts | Online Now
Quoting Dariusfxlife
Disliked
Hi guys, not sure what happened with FTMO demo account, but today the minimum lot is 0.10 instead of 0.01. Anyone aware of the issue?
Ignored
my new free trial is at .01...
so is challenge.
  • Post #4,430
  • Quote
  • Nov 2, 2020 4:17am Nov 2, 2020 4:17am
  •  fx11trade
  • | Joined Dec 2018 | Status: Member | 88 Posts
Quoting mrdfx
Disliked
All right lets do this, $100k challenge loading to start next week. {image}
Ignored
Hey, how is your challenge going?
  • Post #4,431
  • Quote
  • Nov 2, 2020 4:18am Nov 2, 2020 4:18am
  •  navk
  • Joined Oct 2010 | Status: Trader | 11,455 Posts
Winning and loosing depends on individual skills. Not just with FTMO, any other funding firms or brokers. The objectives of FTMO are are not only reasonable but that is how any trader shall manage risk and make 10 % profit in a month.
Just 2 restrictions...

1. No week end positions.
2. No news trading for 2 minutes.
I have been following rule no. 1 for many years in my personal trading. So...it is just news trading restriction.
Accept it. Find the way to win challenge.
Intra day only.
2
  • Post #4,432
  • Quote
  • Nov 2, 2020 4:28am Nov 2, 2020 4:28am
  •  Degolep
  • Joined Oct 2017 | Status: Member | 888 Posts
Quoting OutThere
Disliked
{quote} I never really called FTMO a scam but in my view some of their restrictions are unnecessary. I can't change them and I don't have to. Like any shopper, I'll just take my business elsewhere. Thanks for the explanation. Edit: Wow, a fail rate of about 92%. win/win.....for the house. Just a matter of finding the equilibrium or the range of it.
Ignored
Finally something I agree with you.

People just don't get it how brilliant is the ftmo model. 90% of people lose the challenges so they get some money back, which is btw nowhere near the money they get with the 30% from each profitable trader. And the 10% profit in challenge is not easy like it's been said before, so only best of the best pass it. It's a total win/win. And far as I know they have already over 500 funding traders, can you calculate how much is 30% of 500 traders, I am sure it is millions/month.
Anything above the line is an uptrend, below the line is a downtrend.
3
  • Post #4,433
  • Quote
  • Nov 2, 2020 5:06am Nov 2, 2020 5:06am
  •  Trader4818
  • | Additional Username | Joined Jun 2020 | 96 Posts
Quoting Degolep
Disliked
{quote} Finally something I agree with you. People just don't get it how brilliant is the ftmo model. 90% of people lose the challenges so they get some money back, which is btw nowhere near the money they get with the 30% from each profitable trader. And the 10% profit in challenge is not easy like it's been said before, so only best of the best pass it. It's a total win/win. And far as I know they have already over 500 funding traders, can you calculate how much is 30% of 500 traders, I am sure it is millions/month.
Ignored
Ballpark figures:

I remember hearing somewhere its 650 traders funded, that means around 8500 took the challenge if 8% passed, and most of those failed, lets say average challenge was between the highest and 2nd highest fee, lets call it $450.


$3,532,500 has been made from traders failing the challenge, and then out of that 8% how many of them break a small rule and get funding withdrawn, to then have to take the challenge again.. and everybody is trading on a DEMO, ftmo paying out "profits" from a demo account.

Ponzi anyone?
1
1
  • Post #4,434
  • Quote
  • Nov 2, 2020 5:18am Nov 2, 2020 5:18am
  •  Barnell
  • | Membership Revoked | Joined Oct 2020 | 1,823 Posts
Quoting Trader4818
Disliked
{quote} Ballpark figures: I remember hearing somewhere its 650 traders funded, that means around 8500 took the challenge if 8% passed, and most of those failed, lets say average challenge was between the highest and 2nd highest fee, lets call it $450. $3,532,500 has been made from traders failing the challenge, and then out of that 8% how many of them break a small rule and get funding withdrawn, to then have to take the challenge again.. and everybody is trading on a DEMO, ftmo paying out "profits" from a demo account. Ponzi anyone?
Ignored
That's why I said it is a marketing genius...

But yeah, it keeps the dream of being a "professional trader" or a "full-time trader" for some people alive, so it is great.
I will tear the world apart for you.
  • Post #4,435
  • Quote
  • Nov 2, 2020 5:42am Nov 2, 2020 5:42am
  •  Koop
  • Joined Apr 2016 | Status: It's Time!!!!!! | 502 Posts
Quoting Trader4818
Disliked
{quote} Ballpark figures: I remember hearing somewhere its 650 traders funded, that means around 8500 took the challenge if 8% passed, and most of those failed, lets say average challenge was between the highest and 2nd highest fee, lets call it $450. $3,532,500 has been made from traders failing the challenge, and then out of that 8% how many of them break a small rule and get funding withdrawn, to then have to take the challenge again.. and everybody is trading on a DEMO, ftmo paying out "profits" from a demo account. Ponzi anyone?
Ignored
Then i guess any professional or entry exam which requires some sort of payment is also a Ponzi, as many fail and the examination boards get to keep their monies.

You don't seem to understand what a Ponzi scheme is.
Either ways, If a trader dives in to pay for a challenge when they're not at least 95% sure that they are consistently profitable enough to pass the challenge, then they are to blame for losing their monies. If you insist on repeatedly paying $2000 to write an Accounting certification exam without prior preparation and learning, who's fault is it if you repeatedly fail and lose $8000 in over 4 failed tests?

lol You guys are funny. I don't even know why i should care about the statistics of those who fail or how FTMO earns the money they intend to use in paying me, all i want to know is that i'd get paid when i'm due, be it from the losses of others or not.

A whole lot of whining about nothing.
2
  • Post #4,436
  • Quote
  • Nov 2, 2020 5:43am Nov 2, 2020 5:43am
  •  Barnell
  • | Membership Revoked | Joined Oct 2020 | 1,823 Posts
Quoting Koop
Disliked
{quote} Then i guess any professional or entry exam which requires some sort of payment is also a Ponzi, as many fail and the examination boards get to keep their monies. You don't seem to understand what a Ponzi scheme is. Either ways, If a trader dives into pay for a challenge when they're not at least 95% sure that they are consistently profitable enough to pass the challenge, then they are to blame for losing their monies. If you insist of repeatedly paying $2000 to write an Accounting certification exam without prior preparation and learning,...
Ignored
Except educational institutions teach you before they make you take the exam.
I will tear the world apart for you.
  • Post #4,437
  • Quote
  • Nov 2, 2020 5:49am Nov 2, 2020 5:49am
  •  Trader4818
  • | Additional Username | Joined Jun 2020 | 96 Posts
Quoting Koop
Disliked
{quote} Then i guess any professional or entry exam which requires some sort of payment is also a Ponzi, as many fail and the examination boards get to keep their monies. You don't seem to understand what a Ponzi scheme is. Either ways, If a trader dives in to pay for a challenge when they're not at least 95% sure that they are consistently profitable enough to pass the challenge, then they are to blame for losing their monies. If you insist on repeatedly paying $2000 to write an Accounting certification exam without prior preparation and learning,...
Ignored
Who's whining? I'm just making people think outside of the box a bit.
  • Post #4,438
  • Quote
  • Nov 2, 2020 5:57am Nov 2, 2020 5:57am
  •  Rmg
  • Joined Jan 2016 | Status: Member | 1,659 Posts
Thinking outside box
Stop responding to the negativity guys....
And to the genius whiners, if you're not taking part in ftmo challenges you got no business here,.
This is a commercial thread, and shut the door behind you please.
Less is more.
2
  • Post #4,439
  • Quote
  • Nov 2, 2020 5:58am Nov 2, 2020 5:58am
  •  langtoni
  • | Joined Apr 2017 | Status: Member | 170 Posts
It's not up to FTMO to teach anyone.

Perhaps they do rely on a high failure rate of impatient novice traders to fund their funded traders. Again, the power is in the hands of the traders to prepare. There is no pressure to rush into taking the challenge.

We're getting nowhere with these conversations.

Let's just get back to talking shop and fact, who's completing the challenge, who's funded e.t.c

To that end, updated profit chart as of Friday. 4.4%
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  • Post #4,440
  • Quote
  • Nov 2, 2020 6:24am Nov 2, 2020 6:24am
  •  lakhan
  • | Joined Jun 2013 | Status: Member | 608 Posts
Is it a ponzi when you can pass the challenge and have the fee refunded back to you? Doesn’t sound like it.

Even if we’re all wrong and the business model don’t work, take your profit split every month until they run dry/bankrupt/closedown/stop paying out. You’ve lost nothing.
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