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FTMO - For serious traders

  • #4,541
  • Nov 11, 2020 10:38pm Nov 11, 2020 10:38pm
yes...
seeing bitcoin spreads at around 4000...
it was 1200 until a few hours ago.
  • #4,542
  • Nov 12, 2020 2:33am Nov 12, 2020 2:33am
Quoting dave4
l have heard severally that FTMO is a scam;but l have gone in there to investigate. Within 2months l did their challenge and verification and l passed 'though stressful. Last moth,October,l got my first profit split as well as my initial fee of 298.22.FTMO IS REAL!!!

if you want to be taken serious then statement from this account make us believe otherwise you are person with one comment and no account to follow your moves
  • #4,543
  • Nov 12, 2020 2:42am Nov 12, 2020 2:42am
Quoting stirmatt
I just paid for the challenge today and I will like to find out some things from the people who have passed the stuff. I mostly trading with pending orders and I will like to know if it is suitable for the challenge (Sell/Buy Stop and Sell/Buy Limit). Secondly, I need a little clarification concerning the news restriction. For example if I am trading EURUSD and there is news restriction on NZD which has nothing to do with EURUSD, am I suppose to obey such restriction in my trading? Thanks

what would you say about ftmo ? did you pay them ?
  • #4,544
  • Nov 12, 2020 2:49am Nov 12, 2020 2:49am
Quoting stirmatt
I just paid for the challenge today and I will like to find out some things from the people who have passed the stuff. I mostly trading with pending orders and I will like to know if it is suitable for the challenge (Sell/Buy Stop and Sell/Buy Limit). Secondly, I need a little clarification concerning the news restriction. For example if I am trading EURUSD and there is news restriction on NZD which has nothing to do with EURUSD, am I suppose to obey such restriction in my trading? Thanks

what would you say about ftmo ? did you pay them ?
  • #4,545
  • Nov 12, 2020 3:12am Nov 12, 2020 3:12am
Quoting dave4
l have heard severally that FTMO is a scam;but l have gone in there to investigate. Within 2months l did their challenge and verification and l passed 'though stressful. Last moth,October,l got my first profit split as well as my initial fee of 298.22.FTMO IS REAL!!!
Would be more convincing if this isn't a first post on a 2012 join date.
I will tear the world apart for you.
  • #4,546
  • Nov 12, 2020 3:32am Nov 12, 2020 3:32am
Quoting OutThere
Since I keep getting asked who is a better choice, I'll give some clues: They give you one whole year to make 6% on a 5k real account. Then, if you manage that, they give you 20K and I think you will have another year to make 10% Then they double that every time you make 10% up to 2 million. If you really think about it, you have to make a total of 76% to be given 2 million to trade. 6% =20K 10% =40K 10% = 80K 10% =160K 10% =320K 10% =640K 10% =1,280K 10% =2 million Total 76% gain. 1% per week=76 weeks/52= approximately 1.5 years from 0 to 2 mil....
City is better as they give more days (actually months even upto a year) within which to reach profit target as the FTMO 30 days calendar is just about 20 trading days in reality due to 4 weekends (8 days aand probably a couple of holidays ) from/off the 30 days.

Also City allow one to compound, allow over weekend holding of trade, allow trading during news and allow EA's. Then upto 2 million in funds - icing on the cake.

These are all easier conditions which are better/conducive for an average good trader to work with and gives signal that they are not after subscribers money through restrictions.

FTMO is for super pro only advantage - High share of profit.
Without despair & distraught, focus on Patience to FRESH MOTiVES.
  • #4,547
  • Edited 4:46am Nov 12, 2020 4:31am | Edited 4:46am
Quoting skyf
{quote} City is better as they give more days (actually months even upto a year) within which to reach profit target as the FTMO 30 days calendar is just about 20 trading days in reality due to 4 weekends (8 days aand probably a couple of holidays ) from/off the 30 days. Also City allow one to compound, allow over weekend holding of trade, allow trading during news and allow EA's. Then upto 2 million in funds - icing on the cake. These are all easier conditions which are better/conducive for an average good trader to work with and gives signal that...
You guys need to understand that sometimes "better" is subjective.

With FTMO, you only have to make 10% in 20+ days ONCE, just ONCE!! and then 5% in 40-60 days just once (which is easier). If you are a trader who can comfortably make 10% within 25 days, then there is absolutely no better offer for that Trader currently on the market, considering they also offer the best risk limit allowance and largest profit split and the fact that after the challenge, there are no more targets and the pressure is completely removed . Make only 0.5% per month if you want.
Oh yeah, fees charged are refunded if successful.

Now, if you are a trader who is uncertain of their ability to make 10% for the first month of challenge but you can end in profit, you could very well keep trying for free until you have a spectacular month in which you cross the 10% mark and qualify.


On the other hand, CTI or 5ers etc could sound better to a a News event trader or one who is certain they may not be able to attain 10% a month anytime soon and don't want to deal with the pressure, so they'd rather choose these guys even though they would have to sacrifice their profitability potential due to the extreme risk limitations such as imposed 0.25 max lot sizes, "4% max drawdown" compared to FTMO's 10%, CTI's 1:5 leverage compared to FTMO's 1:100 and finally, lower profit splits.
i mean, with all those limits, an FTMO trader with a $300,000 account could probably be earning far more than a CTI trader with a $2,000,000 account. Imagine having the potential to earn $4000 on a trade, but being able to only get $1000 because the max lot size limit allowed by your prop won't allow you risk more, even though you are respecting the drawdown limits.


In the end, it's all a matter of preference thus, what you consider better is not always the case for someone else.
  • #4,548
  • Nov 12, 2020 4:33am Nov 12, 2020 4:33am
Quoting dave4
l have heard severally that FTMO is a scam;but l have gone in there to investigate. Within 2months l did their challenge and verification and l passed 'though stressful. Last moth,October,l got my first profit split as well as my initial fee of 298.22.FTMO IS REAL!!!
Would love to see a statement or at least the withdrawal certificate man. These trustpilot style of testimonials on a forum like FF are somewhat annoying.
  • #4,549
  • Nov 12, 2020 8:14am Nov 12, 2020 8:14am
There are no more targets with city too after the target only to increase/double account.

The higher leverage with FTMO counts for something but again benfial mainly to the very good traders as seen in the high % of traders who fail it.
Without despair & distraught, focus on Patience to FRESH MOTiVES.
  • #4,550
  • Nov 12, 2020 9:22am Nov 12, 2020 9:22am
Quoting skyf
There are no more targets with city too after the target only to increase/double account. The higher leverage with FTMO counts for something but again benfial mainly to the very good traders as seen in the high % of traders who fail it.

Very true what you said about the leverage, i agree that higher leverage could mean higher loss risk to noobs, but hey, only very good traders should be attempting these challenges in the first place. Lets not forget that FTMO is probably the only firm that has publicly revealed the failure rate of their challenge, so we can't compare that. It would be easier to fail challenges of other prop firms because of how much tighter/smaller their max drawdown is and i bet many have mistakenly gone above the Max Lot sizes as well.
We only know FTMO's challenge rate because they tell us.
  • #4,551
  • Nov 12, 2020 9:31am Nov 12, 2020 9:31am
Quoting Harry-tuttle
{quote} what would you say about ftmo ? did you pay them ?
Nothing to say about them than that you have read about them here.

I have paid for the challenge but I have not place single trade on the account.
  • #4,552
  • Nov 12, 2020 10:20am Nov 12, 2020 10:20am
Hello again,

I hope you had a nice week and the Monday’s vaccine craze didn’t catch you off guard.
We didn’t encounter any technical issues in the past week. On Sunday night, we have switched the Liquidity Provider of cryptocurrencies on cTrader and for this reason, the cTrader platform was down for maintenance for about 20 minutes on Sunday. Apart from that, we have made some further infrastructure upgrades and testing of new instruments including stocks we wish to offer soon is going great.
Let’s get to your posts now.

Quoting TrendLover
Is it allowed to trade bitcoin on Saturday and Sunday? During the challenge and after being a funded trader?
Hello TrendLover, You can trade XBTUSD during the weekend on both the Challenge and Verification accounts and even on your FTMO Account.
On FTMO Accounts, traders are obliged to close positions prior to any market closure, which is longer than 2 hours ( https://ftmo.com/en/faq/do-i-need-to-close-my-positions-overnight/).
At this time, on MT4 and MT5, XBTUSD has a market closure on Saturday between 11 am and 6 pm CE(S)T, so you have to close the trade prior to this market closure. We are already testing new liquidity provider for crypto pairs on our cTrader, where there isn’t any long market closure on Saturdays, so the traders are able to hold BTC trades long term. We are likely to roll this out on MT4 and MT5 quite soon as well.

Quoting Jay3ast
{quote} How many challenges can we retake without additional cost if did not meet the target profit as long as not exceeding the max daily loss & max loss?
Hi Jay3ast, There is no limit on the number of free repeats as long as you meet the conditions every time.

Quoting skyf
{quote} Make this the first stage for 10% then 5% and 30 days for the other.
Hi Skyf, I’m not sure how exactly did you mean your post. The profit requirements are 10% in first stage for 30 days, then 5% in second stage for 60 days. You do not have to wait the entire 30(60) days to pass and as soon as you meet all Trading Objectives of the stage, you can progress to the next one (providing you have traded in accordance to our other rules.
These Objectives were designed by our founders and are not very likely to change.
https://ftmo.com/en/#objectives
https://ftmo.com/en/faq/what-is-trading-according-to-a-real-market/ - note that these rules were written at a time where we did not have live execution model on our demo accounts so some parts are now redundant due to the demo accounts incurring slippages now.

Quoting stirmatt
I just applied for another free trial but when I input account details into my MT4 trading terminal, my terminal was showing no connection to FTMO-DEMO. The same details logged me into the account on web and on mobile MT4. Can anyone help?
Hi Stirmatt, Your question was already answered by the community here (Thanks to NickBixy), but I just wish to point out that we have 24/5 Live Chat support with queuing times of less than 1 minute during the vast majority of the time. If you have any questions, feel free to come to our Live Chat, where you can get a response from our team quite promptly.

Quoting Draqn
I have quick question. If i hold winning positions through the night for example 10% in profit and next day they decline to say 4% but still in profit. Does that violate daily loss limit? Technically they declined by 6% but idk how is it being treated with floating positions.
Hello Draqn, this case would not cause a violation of 5% Max Daily Loss limit as the daily result would still be positive. In order to stay within the Max Daily Loss limit, your current Daily result must not exceed the Max Daily Loss. The calculation of the current daily result is:
Current daily loss = results of closed positions of this day + result of open positions
Please be aware that the main time for all our operation is CE(S)T and the Trading Day resets at 00:00:00 CE(S)T. You can read more about Max Daily Loss at https://ftmo.com/en/#maximum-daily-loss


Quoting Artcool
{quote} Always equity, not balance. And yes, but in the given example I was answering to, the maximum daily loss would be reached immediately after rollover. Like someone said, it’s safer when you have a significant floating profit to close your positions before midnight and maybe reopen them later if you want too.
Hello Artcool, your answer is actually not correct. Please see my response to Draqn above for further details.

Quoting stirmatt
I just paid for the challenge today and I will like to find out some things from the people who have passed the stuff. I mostly trading with pending orders and I will like to know if it is suitable for the challenge (Sell/Buy Stop and Sell/Buy Limit). Secondly, I need a little clarification concerning the news restriction. For example if I am trading EURUSD and there is news restriction on NZD which has nothing to do with EURUSD, am I suppose to obey such restriction in my trading? Thanks
Hi again Stirmatt. Pending orders are totally fine with us, no issue at all during Challenge and Verification. On FTMO Account, execution via pending order during the 2 min prior to and 2 min after a restrictive news release would be a breach of our rules though. If the restrictive news list NZD, you can trade any instrument apart of the currency pairs containing NZD. EURUSD would be fine. Note that if USD is listed as prohibitive news, USD containing fiat currency pairs are forbidden to be traded, but XAUUSD, XBTUSD, oil etc are ok to be traded.

Quoting fx11trade
Could someone explain how Average RRR is calculated on ftmo?
Hello Fx11trade, It is just an average of all individual RRR of each trade.

Quoting turtletrad3r
Anyone having massive spreads on bitcoin right now?? I see almost a 40 pt spread!! First time seeing spreads this massive and ive been on the demo platform for almost a week. Anyone else have this issue?
Hello Turtletrad3r, BTC seems to be attempting to break out above 16k. Our main focus has always been forex, so the conditions on XBTUSD are not as competitive as on other instruments. Note that we are already testing new LP for Cryptocurrencies and once fully implemented, we should have a large variety of cryptocurrency pairs available with much-improved conditions.


That’s it for this week.
Enjoy the weekend and as always, best of luck with all your trade setups!
Tomas
  • #4,553
  • Nov 12, 2020 4:51pm Nov 12, 2020 4:51pm
Quoting Koop
Lets not forget that FTMO is probably the only firm that has publicly revealed the failure rate of their challenge
TopStep's pass rate was about 20% when it was published a while ago (and that was independently audited).

FTMO say their is 8% (which I believe).

To me, that makes sense.

FTMO demand 10% profit in 20/21 trading days. TopStep Fx is 6% profit with no time limit at all.

Big difference.

(FTMO is also twice the price, but that's another story).
  • #4,554
  • Nov 12, 2020 5:43pm Nov 12, 2020 5:43pm
Quoting KarlKraus
{quote} TopStep's pass rate was about 20% when it was published a while ago (and that was independently audited). FTMO say their is 8% (which I believe). To me, that makes sense. FTMO demand 10% profit in 20/21 trading days. TopStep Fx is 6% profit with no time limit at all. Big difference. (FTMO is also twice the price, but that's another story).
Any other differences?
  • #4,555
  • Nov 13, 2020 2:06am Nov 13, 2020 2:06am
Quoting KarlKraus
{quote} TopStep's pass rate was about 20% when it was published a while ago (and that was independently audited). FTMO say their is 8% (which I believe). To me, that makes sense. FTMO demand 10% profit in 20/21 trading days. TopStep Fx is 6% profit with no time limit at all. Big difference. (FTMO is also twice the price, but that's another story).

Lol You FTMO naysayers are so biased that the possibility of being objective about these comparisons is almost non-existent. Always nitpicking.

Why the hell should FTMO challenges cost the same as Topsteptrader/fx when FTMO charges a one time refundable fee while Topsteptrader requires monthly subscriptions of $325 for the 100k account compared to FTMO's one time fee of $635?

Then Topstepfx say they are giving you $500,000 buying power but in reality these sneaky guys are giving you a $5000 account at a 1:100 leverage which translates to the so-called $500,000 buying power. Can you imagine the deception.

Now, lets compare them properly.

FTMO - $100,000 account - 1:100 leverage ($10,000,000 Buying power) for One time refundable payment of $635
TopstepTrader - $100,000 account - No Leverage ($100,000 buying power) for $325 monthly payment
TopstepFX - $5000 (largest account) - 1-100 leverage ($500,000 buying power) for $275 monthly payment. haha wtf (who needs a prop firm for this kind of offering)

Winner - FTMO


FTMO - $100,000 - 5% max daily loss ($5,000), 10% Max Total Drawdown ($10,000)
Topsteptrader - $100,000 - 2% max daily loss ($2,000), 2% weekly loss limit ($2,000) and 3% max drawdown ($3,000)
Topstep Fx - $5,000 - weekly loss limit ($3,300), Max Drawdown ($3,300).


Winner - FTMO


FTMO - $100,000 - 10% profit target in 22 Days
TST - "" - 6% profit target with no time limit
TSFX - $5000 - $100 ($5,000) profit target with no time limit. LOL 100%.


Winner - TST (subjective)


FTMO - No maximum lot/position size, Highest leverage, Better profit split ratio proportionate to better terms and profitability potential.
TST - Maximum contract Size (10 contracts, on a freaking $100,000 account), No leverage, Good profit split but insignificant when you think about how thier risk parameters hinder a trader from compounding bigger profits fast.

Winner - FTMO

TSFX - LOL i don't even know why i'm talking about this. the mere fact that they deceive traders with "$500,000 buying power" only to state in a tab that the actual starting balance is $5,000 with a 1:100 leverage is dubious as hell. From the website -
What it Means:
"In a nutshell, leverage is the ability to use borrowed money to increase your buying power. In all accounts at TopstepFX, whether it be a Trading Combine or a Funded Account, the cash value is leveraged at a ratio of 100:1. This simply means that for every $1,000 in your trading account, you have $100,000 worth of buying power.
Your starting balance is the cash value of your account when the market opens, not the leveraged amount of equity available. For example, in a $300K trading account, your starting balance is $3,000. As the unrealized equity in your account grows while you’re holding a position, the lot size you’re able to trade begins to increase."

Haha


A lot of fuss is being made about FTMO's 10% profit target in 22 days, but when you think of how much money you could earn once you become a funded trader considering their Leverage and looser risk parameters with no "max lot sizes" and big profit split, i think the challenge should actually be difficult enough to ensure that such a great opportunity is available to only a select few who can achieve such feats... JUST FOR ONE FREAKING MONTH.

You guys are so blind to see that firms like topstep give this unlimited evaluation time because they know they have limited and stifled your ability to make better profits due to their outrageously tighter risk parameters, thereby prolonging the time you should have taken to pass the challenge and delaying your ability to earn money for months, and you think they're doing you a favour?

Lol this brother talking about price haha.

London session is on.... I'll be back later to read and counter more of your jokes.
  • #4,556
  • Nov 13, 2020 5:44am Nov 13, 2020 5:44am
Hello,

I have a question for FTMO (Tomas). Recently FTMO has reduced to zero the comissions related to commodities, indices and cryptocurrencies that is great but in forex this commission is 3$ per lot, that it is very good of course, but is it planned to reduce to zero that commission in the future?. I know that this commission is to control the high frequency trading strategies due to it is not possible to replicate them in live accounts, but now the execution model of demo accounts are live market so there is slippage (negative and positive) and the orders are executed according to the real quote and not with zero slippage as before. Considering that change (live market executions), theoretically, i think it would be possible to reduce forex commission to zero, since the unprofitable HFT strategies in real markets would be controlled by the slippage.
  • #4,557
  • Nov 13, 2020 6:13am Nov 13, 2020 6:13am
I am actually still waiting for someone to post their shared profits from whichever firm they support...
I will tear the world apart for you.
  • #4,558
  • Nov 13, 2020 7:40am Nov 13, 2020 7:40am
Quoting Koop
{quote} Lol You FTMO naysayers are so biased that the possibility of being objective about these comparisons is almost non-existent. Always nitpicking. Why the hell should FTMO challenges cost the same as Topsteptrader/fx when FTMO charges a one time refundable fee while Topsteptrader requires monthly subscriptions of $325 for the 100k account compared to FTMO's one time fee of $635? Then Topstepfx say they are giving you $500,000 buying power but in reality these sneaky guys are giving you a $5000 account at a 1:100 leverage which translates to...
Koop, you finally became "my man". Great thoughtful write up!
  • #4,559
  • Nov 13, 2020 9:23am Nov 13, 2020 9:23am
Quoting Koop
{quote} Winner - FTMO FTMO - $100,000 - 5% max daily loss ($5,000), 10% Max Total Draw DOWN. Haha A lot of fuss is being made about FTMO's 10% profit target in 22 days, but when you think of how much money you could earn once you become a funded trader considering their Leverage and looser risk parameters with no "max lot sizes" and big profit split, i think the challenge should actually be difficult enough to ensure that such a great opportunity is available to only a select few who can achieve such feats... JUST FOR ONE FREAKING MONTH.
This is exactly what people must understand, yeah, just one freaking month...do it 10 %. Then whatever you make...70 % is yours. No need to make 10 %.
Intraday only.
  • #4,560
  • Nov 13, 2020 9:29am Nov 13, 2020 9:29am
Quoting Koop
{quote} Lol You FTMO naysayers are so biased that the possibility of being objective about these comparisons is almost non-existent. Always nitpicking. Why the hell should FTMO challenges cost the same as Topsteptrader/fx when FTMO charges a one time refundable fee while Topsteptrader requires monthly subscriptions of $325 for the 100k account compared to FTMO's one time fee of $635? Then Topstepfx say they are giving you $500,000 buying power but in reality these sneaky guys are giving you a $5000 account at a 1:100 leverage which translates to...
TopStep and their parents company are a scam for sure .
Better to compare FTMO with a better standard cos anything compared to the worst standard will look good.
Without despair & distraught, focus on Patience to FRESH MOTiVES.
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