Hello again everyone,
I hope you enjoyed the end of the year and have gotten off to a good start in 2021. We had a fairly busy holidays as we implemeted some new changes again and many of us wanted to take some holidays through Christmas and New Years, but the backlog has been eliminated and our processing times are back to our usual once agian. The main change impacting our FTMO Traders that has been rolled out recently is the fact that if the conditions are met for the FTMO Account to be eligible for Profit Split (the account is in profit and all trading objectives have been met at the end of the Profit Split Day), the accounts are switched to read-only mode shortly after the midnight, the Profit Split are procesed the following business day and new FTMO Accounts are issued once the traders confirm how much they wish to withdraw. This change has been made in order to prepare the system for further streamlining and to achieve processing in timely manner despite the growth of our company as well as making the tracking of the results simplier for our FTMO Traders.
The proposed change of our main server time from CET to CET +1 has not been implemented on New Years as we have decided that the convenience of the time being same as the time which is important for the rest of Max Daily Loss outweighs the inconvenience connected with it. We might revisit this topic in the future if we more traders ask for our server time to be changed as this offset is causing some differences observed on higher timeframes on charts as compared to commonly used charts from other brokers and would announce the change in advance if it was planned.
Execution of new trades on XRPUSD has been disabled on all our FTMO Platforms due to the SEC lawsuit against Ripple and their executives.
Finally, many of the recent posts were once refering to Max Daily Loss and how it is calculated with some claiming the calculation is done differently than defined by us, so let me adress it here as well:
The calculation important for Max Daily Loss is Current daily loss = results of closed positions of this day + result of open positions.
You can read more at https://ftmo.com/en/welcome/#maximum-daily-loss
There is further definition that can be derived from the logic as described above which is:
If the account’s current equity is lower than midnight (CE(S)T) balance of the account minus the amount defined as Max Daily Loss limit, Max Daily loss has been breached.
Example: Assuming 100k account, Max Daily Loss = 5000: If the account’s balance at midnight of CE(S)T was 104k, Max Daily Loss is breached if the account’s equity drops under 99k during the given day.
Few of you communicated your suspicions that your Max Daily Loss might not be showing correct amount, with Trader-IT emhpasizing that the issue needs to be addressed immediately and „NOW“. Unless you provide the account order number or login number (not the password, just the login number suffices) I can’t respond to these specific posts as I have do not know what account you refer to.
Now to respond to your posts in the same order they were posted:
Hi Robots4me, I’m glad you are happy with those.
Hi Takisd, I hope the issues were just local and temporary. Please do let us know if the issues persisted. Thank you.
Hello Bureuk, to confirm from our side: Max Loss stays the same throughout the entire duration of the account and simply means that the equity of the account must never decrease under 90% of the accounts initial capital on normal risk setup (under 80% for aggressive risk setup accounts). Thanks to Koop for providing the answer.
Hi Quickly, you are more than welcome. Thank you for the kind words. I promise we will continue taking on all feedback and strive to improve our services and customer support as best as we can.
Hello Bizziebee, Max Daily Loss limit stays the same irrespective of the current accounts profit and is set as 5% of the initial account’s capital on normal risk setup (10% on aggressive) If you make 2k profit on the first day and close the trade on the first day - resulting in the accounts balance of 102k at the end of the day (at midnight CE(S)T), you would breach the Max Daily Loss on the following day if the equity decreased under 97k. If on the other hand you left your position open till the following day you would breach the Max Daily Loss if the account’s equity decreased under 95k.
Hi Skyf, I’m assuming you were referring to the 10 extra days of duration added to all active Challenge and Verification accounts on 29th December. Please note this was a one-time Christmas special and does not prolong the duration of the accounts in general.
We have big plans for expansion for the future, but I can’t really promise anything regarding options trading at the moment. We had many requests to bring stocks and are able to provide those on our platforms. Stock trading is being tested on our Free Trials for now, but so far, we do not see as much interest as it appeared there was before. All of the extras we can offer bring some costs with them and everything will depend on our trader’s interest. At this time, the overwhelming majority of volume traded is on forex majors, main indices and gold and silver, so our main focus will remain on those in the near future.
Hello Mtinifx, At this time we have PayU, Decta and WorldPay available for card payments. I know PayU had some temporary issues but believe that all payment Channels should be operational now. Some banks have stricter fraught-prevention guidelines and can block the payment to foreign country if the card is not commonly used for international purchases. The best thing to do if you encounter any troubles with the payment is to contact your bank in order to find out why the payment was rejected as that usually resolves the issue once you confirm the payment was intentional and you are a true cardholder. That usually resolves the issue. You can of course contact us as well and we can check for the possibility of the issue being on our side too.
Hello Trader-IT, clearing the browser cache can help in certain cases but I have good knowledge of the system and don’t think that closing and opening your MT4/MT5/cTrader should have immediate effect on the MetriX. We keep improving our systems and at this time, Challenges, Verification and FTMO Account MetriXes update around once per 2-3 minutes on average and on Free Trials, it can take a bit longer depending on current infrastructure load. We are working on real time MetriX update and hope to roll it out later on this year, but as you said in your subsequent post, it is really heavy on infrastructure and thus we are still not sure when are we going to be able to provide such service.
Hello Alex, Thanks to the way our product is structured, there are no limitations in France that would make you unable to legally work with us. As we never provide live accounts to our Traders and don’t accept any fund deposits, we are not a broker and thus we are not regulated to the same extent some of our competitors are and can provide our services worldwide. There are real invoices issued for profit pay-outs, and you are bound as independent contractor by our FTMO Contract Agreement.
Hi Phronesis24, Bitcoin is available for trading 24/7 on our FTMO cTrader. It is available daily on Sunday-Friday with a 5 min trading break between 23:00 and 23:05 on MT4 and MT5. On Saturdays, there is a 7-hour long market closure on MT4 and MT5 between 11am and 6 pm. You can always see all trading hours specified in specifications of each instrument.
Hello I-5, As you can imagine if our server was 8 seconds behind the real market, traders could create unlimited free profits, so this is something that we have a lot of focus on and we are not aware of any such issues as you described. Executions on all our servers are processed generally within 30-250 ms depending on the currently traded volumes and your report of 5 and 8 second delay has with high likelihood root cause somewhere else than in our servers. Based on your post, I can’t really investigate it further as I don’t have any information regarding your account and so on, so kindly get in touch with us on live chat, via phone call or email so we can further investigate your case. Thank you.
Hi Moodybot, Please note that both mobile app and desktop MT4 are using same provider of the datafeed so it seems that the issue must have been originating in your desktop MT4 platform. I have reviewed the log of all known issues from December and we are not aware of any lagging datafeed issues on any of our FTMO Platforms. As I-5 reported the same issue, I really wish to look into it further. Could you please contact us describing the issue, time of occurance, the version of dektop MT4 that you are using(generic/FTMO) and the account impacted? Thank you.
Hello Iddo, Please contact us directly at [color=Black][email protected][/color], describe your strategy and provide your EA source if possible. All our accounts have live execution model and vast majorities of strategies that are working on our Free Trials can be replicated in the live market. We can however run further simulation to test your HFT strategy to see whether this strategy can be replicated in the live market.
Hello again Driven18, We have addressed similar accusations over and over. All price action and quotes on all our Platforms are dirrectly as we receive them from our LPs and we do not engage any re-quoting as you said. If you experienced any issue with a „bad fill“ as you said or have any doubts, please contact us directly at [email protected] or we can discuss the case publicly here, providing you state relevant details.
Hello Trader-IT, 1) As we also pay commissions to our liquidity providers, we have to pass some of these costs on our traders as well, otherwise we could be losing quite a lot of money especially on strategies relying on high traded volumes. We believe that our trading conditions are very competitive compared with both the live brokerages as well as with other prop firms.
2) As a company we are still growing and securing ways to improve trading conditions for our traders. Some of the planned changes are first implemented on Free Trials before we roll them out to the rest of our accounts as the Free Trials give us ideal environment to test the functionality of prepared changes on a large scale. Free Trial is a free service after all so we hope you will forgive us that the conditions there differ from the rest of the accounts for the time being.
At the moment, we have DE30 on MT4 and GER30 on MT5. Both these instruments has a 4-hour long market closure during Monday-Friday, which is not ideal for our FTMO Traders as they have to close positions nightly for that reason. GER30.cash has only 1-hour market closure and better spreads, so we plan to have that instrument in the future to improve the conditions for our traders.
Hello Maahone, I watched the spread on MT4 account during writing these responses and count observe spread oscilating between 19 and 38 points, being mostly between 25-30.
Hello Taksistalo. Providing the Challenges for free would mean infinity opportunities to get the FTMO Accounts for everyone. That would only encourage risk taking behaviour and our clients could run multiple bots with any strategies. Some of these might result in FTMO Accounts and while some might yeald profits , most would likely cause heavy losses for us. We would also need to put a lot more resources into infrastructure maintenance as there would be no reason for the clients not to open dozens or hundreds of accounts if these were free. In conclusion, the bussiness would not be sustainable if the Challenges were free.
Hi again, Free Trials are only for the traders to test their skills and get familiar with our trading environment. We never provided FTMO Accounts based on performance on Free Trial and as far as I know we do not plan to start.
Hello again Trader-IT, please contact us directly, we can send you an analysis of your account from the exact point of recorded Max Daily Loss. It seems you might not be aware that the floating P/L is also taken into account when assesing your Max Daily Loss.
You further referenced the fact that the MetriX is informative only. Although in recent months the reliability of the MetriXes is over 99%, these can be impacted by a technical error as no system ever is perfect, which is why we state that they are informative only. If you report any situation where you believe the MetriX is not correct, we will investigate the case and verify the validity of the MetriX based on the results seen in the trading platform. In case of error being found in MetriX, we would make necessary adjustments and provide compensation in cases where it is applicable.
You also said that the validity can only be proved by the video of the trading sessions, which is not correct. We have database of all ticks of the prices of all available instruments and can run calculations to show the state of each account at any point in it’s history.
Hello Pipmaser77. The scenario you described sounds plausible and leaving only your floating losses open to the next day could result in the violation of the Max Daily Loss limit as on the following day, your account would be at loss. The equation important for Max Daily Loss is: Current daily loss = results of closed positions of this day + result of open positions.
Hi Takisd, WS30 is based on continuous futures of Dow Jones. You can find corresponding instrument on TradingView named “YM1!”.
Hello WojakPips, We have offered other brokers as an option in past but as it was often causing technical issues (we have many systems in place and even minor changes done by the external brokers can cause significant issues) and delays in handling all sorts of situations, we have decided to phase these out and provide only our trading platforms over which we have full control and can properly plan all changes and carry out all necessary changes without any delays caused by third parties. Our trading conditions are quite competitive so there shouldn’t be a need for other brokers anyways.
Hi Mtinifx, some instruments have been closed on 31st or had market hours shortened on our FTMO Platform as well. It all depends on the LPs each broker uses. We have aggregated pool of several LPs, so we have some flexibility to choose the best option in such cases.
Hello Nikosk0, In order for us to be able to merge your FTMO Accounts, all accounts to be merged have to be either at their initial capital (e.g $100k) or at their initiatl capital with only your rollover profits (which occurs just after your Profit Split is settled and you decide not to withdraw your full share of profits). If there are any profits on the account due for 70-30 Profit Split the account’s can’t be merged and you would need to wait for the next Profit Split Day in order to have the accounts merged. You can read more on mergers here: https://ftmo.com/en/faq/how-many-accounts-can-i-have/
Hi Takisd, I think your comments deserves a few comments from our side. Replies are structured in a same way you structured your post.
1) The million dollars was paid just on the USD accounts. We also have a significant number of FTMO Accounts in EUR and GBP which are not involved in this statistic, so the total payout was actually larger. As for the number of Challenges, we do not wish to publish exact numbers.
2) Positions executed on the FTMO Accounts that meet our conditions are replicated to a real market. As we are managing our exposure not all positions are replicated.
3) Thanks for pointing out everything you did. WS30 is based on continuous futures of Dow Jones( You can find in TradingView as YM1!) I’m not aware of any change.
4) I have already addressed having free Challenges in my previous reply to Taksistalo above in this post. Wanting the Challenges to be free is unrealistic for quite many reasons.
As for the MetriX update, please accept our apology. We are still working on more improvements and try to resolve any delay that occurs as soon as possible, but were only partially staffed so the processing times grew longer than usual between Christmas and New Years.
Hello Stirmatt, I’m sorry to hear you lost your Challenge. Thank you for the suggestions, but I think the prices of Challenges will not be moved downwards. Please understand that we have costs to cover and put our capital on the line in case a Challenge is brought to an FTMO Account as we cover all losses made by the traders. If the price of the Challenges was too low, it might encourage more risk taking - trading large positions and hoping for the big win once in FTMO Account stage. The prices have been calculated in order for our business to stay sustainable in a long run and we believe are quite fair. Receiving $100k capital with 1:100 leverage for €540 (refundable on first profitable Profit Split) is a fair deal in our eyes.
We can recommend for you to test and improve your trading skills further on our Free Trial accounts and once you successfully pass multiple Free Trials and grow more confident in your trading, perhaps try the Challenge again then.
Dear Delta-Vega, Firstly, let me assure that the Max Daily Loss does work exactly as explained on our website and by me multiple times in this thread and is not calculated from the absolute high of the day as you said.
In order to address specifically the issue, you have raised here I would need to know the login number of your Challenges or be able to otherwise identify you in our system as based on the information you provided, I can’t actually find the accounts you are referring to. In the screenshot you have attached, you highlighted:
Todays’s profit current profit of the account at the time of the last MetriX update seen just below this field (calculated as sum of closed trades and floating P/L)
MaxDaily Loss: showing highest recorded daily drawdown as defined by Max Daily Loss
Our Chat support agents are trained not to guarantee any compensations as they do not have enough time to fully assess the situation on the live chat and thus can’t make promises without full understanding of the case. They can promise an extension of the Challenge by the number of the days that the investigation takes in case you do not trade during this investigation, but the extension is processed once the investigation is concluded, not before.
Hello Doyathink, I have cleared up the Max Daily Loss at the beginning of my post today.
Hi again Trader-IT, with all respect, please do not use such large fonts on our thread. You are referring to the issue specific to your account which is likely not relevant for everyone else. We will of course investigate your case if you report it to us but in here, you have not given me any information for me to be able to look up your account and address your case.
Hi Pipmaser77, I have described the Max Daily Loss again in summary but just wish to clear up that the definition Doyathink wrote – “if your equity was 102,000 on 100k account at the beginning of the day, your equity may not drop below 97,000 on that day. “ is not correct. It is not equity at the beginning of the day but the balance at the beginning of the day.
Hi again, just wish to comment on the point you made about extreme tick not being shown in the trading platform. MT4 is not perfect and we have noticed situations where a tick was registered and processed by the LP but has not shown on the chart in MT4. Situations like that are extremely rare though(last one was observer a few months ago on the 1000-point movement that happened within 4 seconds on GBP)
Likely the situation you described earlier has different explanation than such unregistered tick.
As for the screenshot you posted, I can’t really provide any clarity without any further details.
Please contact us directly at [email protected]
Hello Slappymove, Thanks for a bit of humour between all the other posts 
Hello Tdrjj, hedging itself is not the issue, although you should calculate with likely spread widening that usually occurs during the nightly rollover. The problem occurs if you have open losing and profitable trades on one day which sort of cancel out and decide to close the profitable ones that day and carry tho losers forward. Once the day resets the profits made previous day are no longer relevant for the new day’s Max Daily Loss while the carried over loses are.
I hope I addressed all your issues needing our response. The debate about Max Daily Loss was quite extensive here and many of you requested me to have a look into your cases. I can, of course, do that or have those investigated in case I was too busy but if you want us to be able to look into your cases, you need to provide information that we can use to look up the relevant account in our system (login of the account or order number would be ideal).
On behalf of the entire FTMO team, I wish you the best of luck with your trade setups and all other life endeavours in 2021!
I hope you enjoyed the end of the year and have gotten off to a good start in 2021. We had a fairly busy holidays as we implemeted some new changes again and many of us wanted to take some holidays through Christmas and New Years, but the backlog has been eliminated and our processing times are back to our usual once agian. The main change impacting our FTMO Traders that has been rolled out recently is the fact that if the conditions are met for the FTMO Account to be eligible for Profit Split (the account is in profit and all trading objectives have been met at the end of the Profit Split Day), the accounts are switched to read-only mode shortly after the midnight, the Profit Split are procesed the following business day and new FTMO Accounts are issued once the traders confirm how much they wish to withdraw. This change has been made in order to prepare the system for further streamlining and to achieve processing in timely manner despite the growth of our company as well as making the tracking of the results simplier for our FTMO Traders.
The proposed change of our main server time from CET to CET +1 has not been implemented on New Years as we have decided that the convenience of the time being same as the time which is important for the rest of Max Daily Loss outweighs the inconvenience connected with it. We might revisit this topic in the future if we more traders ask for our server time to be changed as this offset is causing some differences observed on higher timeframes on charts as compared to commonly used charts from other brokers and would announce the change in advance if it was planned.
Execution of new trades on XRPUSD has been disabled on all our FTMO Platforms due to the SEC lawsuit against Ripple and their executives.
Finally, many of the recent posts were once refering to Max Daily Loss and how it is calculated with some claiming the calculation is done differently than defined by us, so let me adress it here as well:
The calculation important for Max Daily Loss is Current daily loss = results of closed positions of this day + result of open positions.
You can read more at https://ftmo.com/en/welcome/#maximum-daily-loss
There is further definition that can be derived from the logic as described above which is:
If the account’s current equity is lower than midnight (CE(S)T) balance of the account minus the amount defined as Max Daily Loss limit, Max Daily loss has been breached.
Example: Assuming 100k account, Max Daily Loss = 5000: If the account’s balance at midnight of CE(S)T was 104k, Max Daily Loss is breached if the account’s equity drops under 99k during the given day.
Few of you communicated your suspicions that your Max Daily Loss might not be showing correct amount, with Trader-IT emhpasizing that the issue needs to be addressed immediately and „NOW“. Unless you provide the account order number or login number (not the password, just the login number suffices) I can’t respond to these specific posts as I have do not know what account you refer to.
Now to respond to your posts in the same order they were posted:
{quote} @Tomas -- excellent responses. Thank you...
{quote} Hi Tomas, As stated I wasn't entirely sure on what was the problem. I wasn't getting the problem with other platforms but I couldn't say without a doubt that it was FTMO's or my fault, i let it go for a bit then it fixed the next day after rollover. Next time I'll report it in to you guys to check. Cheers.
hi i want to ask that, if i became trader each month my max loss reset?
Hi Tomas, as someone who has been quick to criticize in the past, I just wanted to thank you for all the questions you've answered here so helpfully, and to wish FTMO and its staff all favourable Season's Greetings. I recognize that you're genuinely taking comments on board, including adverse ones, and improving your service. Thank you.
Sorry I have a question for anyone. I am not clever with numbers! If I have a 100000 challenge and first day I make a profit of 2000 on the next day can I make a loss of 7000 and still be OK or is it the maximum loss calculate on 5% of 102000 which I think is 5100?
Hello Thomas, Good to see the increased days-to-profit. Does FTMO have plans for providing/supporting options trading?
We have big plans for expansion for the future, but I can’t really promise anything regarding options trading at the moment. We had many requests to bring stocks and are able to provide those on our platforms. Stock trading is being tested on our Free Trials for now, but so far, we do not see as much interest as it appeared there was before. All of the extras we can offer bring some costs with them and everything will depend on our trader’s interest. At this time, the overwhelming majority of volume traded is on forex majors, main indices and gold and silver, so our main focus will remain on those in the near future.
Has anyone had problems paying these guys? I thought that I would get a challenge account but for some reason my card is being declined. They are using some Polish card handler called "Payu" and another one (looks Russian) called "Decta" but my bank is not accepting. The other guy was correct - they don't accept Paypal.
{quote} For everyone... Try to check this thing: if Matrix does not update after a while, close the platform in use. Now it is updated instantly (in case update the Browser page again, due to the possible cache). It works for me.
Hi everyone, I have a question about FTMO, I read that it was forbidden to trade for a Prop Firm in France even having created a company because apparently there is no real invoice, employment contract.. and it is was considered like money laundering. Can someone advise me, I didn't find anything on AMF website (Financial Markets Authority (France). Thank you
Who is trading bitcoin? Is crypto currency tradable during weekend? If it is tradable, it is positive for traders because all 31 days can be traded
@Thomas-ftmo. What Taksid said about your server is true. The ftmo server was seriously lagging, this past week, please Thomas talk to your technical crew about it, 3 seconds is underestimating the issue, it stands still for 8 seconds!. 5 seconds and that intermittently within every 3 to 5 minutes, not to mention that it's extremely slow, just too slow compared to previous weeks. Please do something about it thanks
{quote} Agreed. The data feed was lagging, hanging at times greater than 10 secs. Watching price update on MT4 app on a mobile phone but lagging on my trading computer was a little disconcerting!
{quote} How could I know if your live accounts could handle a HFT system that is profitable on your demo servers?
FTMO is legit and the do pay to traders who are still funded. But from my experience and perspective, let me tell you exactly what is really going on: Outside of collecting fees, FTMO pushing on traders "bad quotes", as they are definitely re quoting for their monetary gian purposes. They are pushing wider quotes on you as it a part of their business model to get the difference between liquidity provider and quotes to you, the trader. That is a partial reason you are always trading in demo mode. Every time you place a trade, they earn on requote....
Last two things (unfortunately): 1) I have read in recent months "commissions on indices yes ... now no ... now they are there". To me, these 4 trading days cost -658.09$ to commissions. I would like (with a funded account) to have some of this money in my pocket. Or is it just my idea? 2) I asked in chat, but I'm not convinced of the answer. Tomas said that there are now on test, additional instruments to trade, but only on the trial account. Unfortunately, there is no detailed list of tools for trading with a funded account (a lack of almost all...
2) As a company we are still growing and securing ways to improve trading conditions for our traders. Some of the planned changes are first implemented on Free Trials before we roll them out to the rest of our accounts as the Free Trials give us ideal environment to test the functionality of prepared changes on a large scale. Free Trial is a free service after all so we hope you will forgive us that the conditions there differ from the rest of the accounts for the time being.
At the moment, we have DE30 on MT4 and GER30 on MT5. Both these instruments has a 4-hour long market closure during Monday-Friday, which is not ideal for our FTMO Traders as they have to close positions nightly for that reason. GER30.cash has only 1-hour market closure and better spreads, so we plan to have that instrument in the future to improve the conditions for our traders.
Hello to All, Can someone give me an idea of the average spread on Gold - I am seeing around 24-25 points at the moment - would this be the average - my broker is showing around 12-13. If anyone can give me an idea that would be greatly appreciated. Cheers to all maahome
Hello Maahone, I watched the spread on MT4 account during writing these responses and count observe spread oscilating between 19 and 38 points, being mostly between 25-30.
Sorry, but that sounds like some shady thing there. Why to pay 170$ for the trial trial to get funded. I mean what do I get for my money there? If it's a challenge or a trial it should be free =)) If I'm wrong, please explain. For now it just looks like 170$ from 10 people is a nice paycheck.
Did FTMO ever accepted trader who showed good result in trial many times? =)
I started another trial, after reaching the goals with the first one. And I took a Challenge that I will start after January 7th. But -honestly- I'm a little worried. I had already noticed the thing with the first one, but now it has happened again. Matrix signals a Max Daily Loss which I could not have done even in a dream. I didn't even come close to it. I have the impression that, if you do a lot of close operations, the Matrix does not update itself and it accumulates losses. This is the only explanation. And if FTMO looks at the Matrix, then...
You further referenced the fact that the MetriX is informative only. Although in recent months the reliability of the MetriXes is over 99%, these can be impacted by a technical error as no system ever is perfect, which is why we state that they are informative only. If you report any situation where you believe the MetriX is not correct, we will investigate the case and verify the validity of the MetriX based on the results seen in the trading platform. In case of error being found in MetriX, we would make necessary adjustments and provide compensation in cases where it is applicable.
You also said that the validity can only be proved by the video of the trading sessions, which is not correct. We have database of all ticks of the prices of all available instruments and can run calculations to show the state of each account at any point in it’s history.
{quote} Just throwing this out there, as I violated my first challenge due to this.....I was up significantly for the day, I closed my winners and left my floating losses open(still way up for the day). When the FTMO day reset, those floating losses immediately violated daily loss for the next day. I actually lost my challenge with an account in profit. Is this a possible scenario? Like I said, just throwing it out there as I'm not sure what time of day this occurred for you.
again the WS30 price is 100 points off market. I spoke to support they said "its futures price" so i go to my futures account and check, its not so im confused. Obviously I am trading whats infront of me but i dont actually know what i am trading anymore. I just trade. It was like this when i did my first challenge and then it was corrected and now its like this again..
they should provide another brokers to trade. only trading with their server is a bit shady..
Strange that FTMO ended the day yesterday normal time whereas other most other brokers closed early. Nice for FTMO traders!
hi i just got my 1st account and on verification stage for my 2nd acount (day 2 as of now and +1100 on 80k euro account) should i wait to pass the verification to merge them or they can be merged with the first account being in profit? challenge 1 passed in 10 days second in 12 days first verification in 7 days (and just took small trades to make the days count as 10) for those of you that have a hard time passing them i fules some simple rules (for 100k account) 1. aim for 500 a day on a single trade then take smaller trades for an extra of 100-200...
a bunch of people are dming me with conspiracies about FTMO. I want to address them having been a broker (of all sorts) since 2006. 1) No, I don't think FTMO is a bucketshop, because there are not a constant flow of deposits. The average trader deposits more than the cost of the trial and has to trade it to lose it. FTMO returns the fee back to successful people (about 5% of people statistically) + pays out over a million dollars a month in profit shares. To maintain a bucket type model for this they would have to be getting tens of thousands of...
1) The million dollars was paid just on the USD accounts. We also have a significant number of FTMO Accounts in EUR and GBP which are not involved in this statistic, so the total payout was actually larger. As for the number of Challenges, we do not wish to publish exact numbers.
2) Positions executed on the FTMO Accounts that meet our conditions are replicated to a real market. As we are managing our exposure not all positions are replicated.
3) Thanks for pointing out everything you did. WS30 is based on continuous futures of Dow Jones( You can find in TradingView as YM1!) I’m not aware of any change.
4) I have already addressed having free Challenges in my previous reply to Taksistalo above in this post. Wanting the Challenges to be free is unrealistic for quite many reasons.
As for the MetriX update, please accept our apology. We are still working on more improvements and try to resolve any delay that occurs as soon as possible, but were only partially staffed so the processing times grew longer than usual between Christmas and New Years.
I lost my first challenge and I will like to apply for another one but before then, I will suggest that FTMO should consider reviewing their challenge fees down ward to allow traders to be able to take the challenge as many time as possible until one passes it especially traders like me that are living in Nigeria where our monthly minimum wage is less than $100 dollars. Rewarding it down wards will not affect FTMO income but rather, it will give access to more traders all around the world to try out their challenge and also afford FTMO opportunity...
We can recommend for you to test and improve your trading skills further on our Free Trial accounts and once you successfully pass multiple Free Trials and grow more confident in your trading, perhaps try the Challenge again then.
Happy news on a previous FTMO issue but a concerning current issue. I reported on some issues in the past which I would like to say first of all that FTMO handled very satisfactorily. My only suggestion would be they give front-line support more leeway to guarantee challenges will be credited time in the event they agree there was a genuine issue. This is detailed on the reporting page which would also be good to draw attention to as it has procedures for what to do if you encounter an issue. Unfortunately I just ran into a much more serious issue...
In order to address specifically the issue, you have raised here I would need to know the login number of your Challenges or be able to otherwise identify you in our system as based on the information you provided, I can’t actually find the accounts you are referring to. In the screenshot you have attached, you highlighted:
Todays’s profit current profit of the account at the time of the last MetriX update seen just below this field (calculated as sum of closed trades and floating P/L)
MaxDaily Loss: showing highest recorded daily drawdown as defined by Max Daily Loss
Our Chat support agents are trained not to guarantee any compensations as they do not have enough time to fully assess the situation on the live chat and thus can’t make promises without full understanding of the case. They can promise an extension of the Challenge by the number of the days that the investigation takes in case you do not trade during this investigation, but the extension is processed once the investigation is concluded, not before.
{image} {quote} I have been working on the theory that the daily max loss is calculated by the difference between the highest point of the balance and the lowest of the equity during the day... on my max drawdown day, Dec 11, attached above, (the red line is balance, the blue line is equity) I was down $4268 by this measure, and the Metrix agrees. A few things about this: 1. both equity and balance were rising all day, approximately. 2. when equity was at its lowest, it was only $2640 less than balance. 3. that $2640 difference is the largest difference...
Unfortunately there are serious problems with the Max loss day. I have been saying this for several days. Today I found myself with an added result. The day before I was at around -2200 and today after the first around -350, I had greatly exceeded -2500. The first loss of the day was added to that of the previous day. Also you have to wait many hours to get an updated Matrix report. In some cases over 10 hours. And then you have to struggle with assistance and hope that everything goes well? These are serious problems, which cause the loss of the...
{quote} This is exactly the rule. I have never had an issue with matrix in funded, verification or challenge. It usually updates within 90 seconds for me. Keep in mind, the FTMO "day" resets at 6 pm eastern, not sure if this has anything to do with anyone's issues. As I have previously posted I lost my first 2 challenges due to this. Although I check the matrix for accuracy, I will never rely on it. Check your equity at 6 pm eastern, you cannot drop more than 5K below that equity before 6 pm eastern next day. Keep in mind any floating gains or losses...
Some notes: - I open and close transactions within a maximum of 2 hours and do not bring anything to the next day. - 18:00 east is 00:00 on the FTMO server, the end of the day. So everything ok. - I am aware that the levy is fluctuating. I know well. - 0.5%? But what if after a few hundred dollars, the max is already exceeded? The max DD must reset every day. And if I make $ 200 today, the max dd becomes 2700. But that's the rule in theory. In practice we do not see this, but something else. Sometimes even different from each other. I repeat: I...
Likely the situation you described earlier has different explanation than such unregistered tick.
As for the screenshot you posted, I can’t really provide any clarity without any further details.
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If you don't have sense of humor, please skip reading my post. I also have a fair share of success and failure with FTMO. -------------------------------------------------------------------------------------------------------------------------------------------------------------------- After months and thousand of posts here I can still see the same old requests and it's somehow funny: 1. Fees are too high - If you cannot afford the Challenge Fee, what makes you think you can handle the rollercoaster ride of trading with a 100k account? Okay, I...
{quote} I can see this having an effect if you are already close to a violation and the spread pushes you over, yes. This however wasn’t the case here. This is a case of the account metrics showing a loss that to me was factored in already.
I hope I addressed all your issues needing our response. The debate about Max Daily Loss was quite extensive here and many of you requested me to have a look into your cases. I can, of course, do that or have those investigated in case I was too busy but if you want us to be able to look into your cases, you need to provide information that we can use to look up the relevant account in our system (login of the account or order number would be ideal).
On behalf of the entire FTMO team, I wish you the best of luck with your trade setups and all other life endeavours in 2021!
) I start with a Challenge.
