FTMO - For serious traders

hmm i see so anything over 2h market close cant be held, thanks for clarification, but like you said on ctrader then you can hold it 24/7 7 days a week

I don't use ctrader, but I believe I have read somewhere, crypto is 24/7. I would contact FTMO just for clarification.

interesting...
can you let us know if FTMO confirms that ctrader is 24/7 for bitcoin?

thanks in advance!

Tomas addressed it earlier.

oh so theres also 3h on ctrader, hmm

I've been just chilling in the back and doing a lot of reading around of FF since I've been around. I'm happy to say that reading content on FF has been a great way to help me pass the 100k challenge and am now waiting for verification. May update as I go along!

Hello everyone,

as we’ve reached the second month of 2021, our office buildings got covered under a thick layer of snow for the first time this year and we are back with the regular update. As mentioned previously, we’ve been mainly monitoring platforms and symbol functionality for the past week and we’re sticking to the same game plan also for the upcoming weeks, keeping everything running smoothly is always the no.1 priority.

Now, let’s get to the topic many of you have already addressed. Due to a technical issue on the side of our technical provider, Datafeed to FTMO Platform MT4 and MT5 experienced a brief outage on 8th February 2021 between 15:04 and 15:17 CE(S)T. We have noticed the issue immediately and the full functionality was restored on both MT4 and MT5 within 13 minutes. Please accept our sincere apologies if you have been impacted by this issue. For all traders whose trades have been impacted, fair solutions are offered and after an agreement is reached, provided. If any of you have been affected by the outage, please contact us at [email protected] to find a solution for your particular case.

Before we get to your questions, I can see that the thread has been quite alive for the past week, various topics are being discussed and I’d like to especially thank to those who are being helpful to the new members. I’ve noticed Navk has been replying to multiple questions with correct answers, which is something I’m always pleased to see.

Finally, let’s answer your questions:

Quoting Takisd

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{quote} Hi Tomas, Thats all well and good but your price is unnatural. It also is creating multiple instances of close at market slippage which is unmonitorable. Most of my trades, including the ones moving my direction but without a limit TP are being slipped on close. The indicator thing I have dealt with by using a futures feed and executing on the cash symbol but there aren't that many ticks in the market so you should consider doing something about filtering it. You should also be concerned that your traders require a feed elsewhere to analyze...

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Hi again Takisd, I'm not really sure what exactly do you have in mind by saying that the price is unnatural. As for your profitable positions without TP being slipped - if you are closing them at market price, the price may change between the time of you clicking "close order" and the time the server processed the order. As you noticed, on some instruments there are dozens of ticks each second and thus some difference in price filled on market close is to be expected. I'm not sure whether I understood you correctly as I would not call this difference slippage. You said that there are not enough ticks on the cash symbols but then you suggested we might filter some - if any were filtered there would be even fewer ticks and thus your problem would not be solved, so I don't understand this remark.

As for tick filtering and other changes you mentioned we should consider as a broker - please note that technically we are not a broker. Our Platforms are using an STP aggregated liquidity pool and we do not engage in any market-making. I can't really get into details as we wish to keep some information as our trade secret. We are always thinking about how to improve our services and will continue to improve our services as we go into the future. As for the traders having to use another platform for their TA - this has been discussed over and over and so far we lean on the side of our server time being aligned with the reset of Max Daily Loss. Unfortunately, this has its disadvantages, but for now, we believe that the solution advantages outweigh the disadvantages. Thank you for the feedback.

Regarding Slippages on Take Profits, please be informed that Take Profits are considered Limit Orders, and in many cases, we give positive slippages for these orders which is an advantage for clients.

A high tick rate is a sign of healthy liquidity and the more prices tick and we do not see anything inherently wrong with providing high tick rates. High tick rates in fact reduce slippages as it is an indicator of higher liquidity.

As we do not have any specific details about your case, our support team will gladly investigate further once you provide more details

Quoting ice20

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Can someone please help me understand the new commissions at FTMO. Previously, as I understand, there were no commissions on indices, but now there are PERCENT / VOLUME commissions. So say in the case of the US30 (Dow Jones): 1 Dow Jones futures contract has a nominal value of $5 x DJIA. As of today it it is (5*29982.62), for simplicity sake we will say $150,000. So with the FTMO commission being .001 as PERCENT / VOLUME, does that mean trading the equivalent of 1 Futures contract would cost $150 in commissions?

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Hello Ice20, the percent/volume commission system might sound complicated at first, but it’s actually fairly easy to follow. Let’s demonstrate it on the Dow Jones for instance:
Take the current price, multiply it by the contract size, lot size, and finally by 0.001%. The actual commission calculation of a 2 lot trade at the price of 31000 would look like this: 31000*10*2*0.00001 = 6.2 USD commission.

Quoting navk

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A clarification required from Tomas - FTMO As a funded trader, minimum 10 days should be traded in a month. That is fine. Minimum 50 % days traded shall be profitable ? Is there such rule ?

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Hi Navk, there is no profitable days rule, we’ve removed that a long time ago. On the FTMO Account, the Trading Objectives are just the 10 Active Trading Days, Max Daily Loss and Max Loss. Good luck with the FTMO Account!

Quoting navk

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{quote} I was chatting with them about this on the other day. They said, husband/wife living in same address must trade different strategy. One Strategy means same pair + same execution. Tomas/ Ftmo can clarify this. I hope there will not be restriction for wife and husband living in same address to trade with FTMO with separate accounts

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Hi Again Navk, we simply want to prevent one person from managing multiple FTMO Accounts under a different name. As mentioned in our T&C’s, managing an FTMO Account that is registered under a different person could provide a single trader with more than the $300,000 limit, and therefore it’s not prohibited. Two separate people living at the same address can, of course, have each their FTMO Account(s).

Quoting nikosk0

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i wanted to sort and i didnt cause of stupid "no news trading" rule on nfp. was hoping i might get my entry 2 minutes later since the rules allow it after 2 minutes i also closed my eu long early cause it didnt hit tp and nfp was aroudn the corner. charts dont care about news, PA + market structure is king of all stupid rules, i am pissed off right now. i didnt get the money i wanted, had to exit AND NOT ENTER cause of news...... {image} {image}

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Hello Nikosk0, we’ve carefully selected only the most market-influential news to be restricted. As Takisd stated below, the liquidity during the restricted news is often significantly reduced to the point where we can’t guarantee our regular risk exposure as trader’s positions could cause significantly higher losses than what is acceptable for our company due to possible slippages. I understand your frustration, but charts do care about the news and we also want to prevent our traders from experiencing the substantial slippages that often occur on executions during impactful market news.

Quoting forecks

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Hi guys, I have a quick question about drawdown and max loss. Say I start a new challenge and place my first trade. It goes up $100 into profit but then it drops to be stopped out at -$100. Should my metrix show a max loss of -$100 or -$200? Thanks

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Hi Forecks, as you’ve lost -$100 of the capital, your Max Loss would show -$100 as a result. Losing your own profits can not be counted as a loss and therefore is not reflected in the Max Loss and neither in the Max Daily Loss (if the profits are made on the current day).

Quoting pippypip

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Hey fellow traders, I'll started the challenge on Monday.. Wish me some luck guys!

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Hi Pippypip, fingers crossed, good luck with the first step!

Quoting DuckHunter

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Any idea how does longer term trading work on FTMO? Not the Challenge and Verification stages, but the actual verified stage. Because FTMO claims to allow swing trading and other longer term trading strategies but traders have to close their positions when market is closed. So, if i were to enter on a position during the friday, swing trading strat applied, does it mean that i have to close it before New York session closes? If so, then longer term trading strategy isnt going to work well with FTMO, isnt it? What other ways are there to go about...

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Hello DuckHunter, on the FTMO Account, we require our traders to close their positions prior to any market closure longer than 2 hours - according to the trading hours of each instrument. This means that with the exceptions of Cryptocurrency instruments (which have their own market closures during the weekend, but shorter ones), traders trading FTMO Accounts have to be flat by Friday‘s market closure. If you prefer swing trading and you’d want some trade kept open through the weekend, please inform us at [email protected] by Wednesday 23:59:59 CE(S)T. Your request will be considered (based on the overall risk of the weekend holding of the particular trade) and possibly granted.

Quoting Starswing

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Max daily loss takes into account: days realised profit - realised loss and your current drawdown of all open trades, but if your realised profit was +$3000 to that point and your current DD is -$4000 the daily drowdown is -4000 not -1000... Max daily loss is always in initial $$ value, daily profit is not added to it but realised daily loss is counted in it. I figure, in emergency, one could close open trades before their daily reset time to avoid carrying over drawdown to the next day, and open them up again after changeover But even reaching...

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Hello Starswing, I’d like to prevent any confusion here. As you’ve correctly pointed, Max. Daily loss includes today’s realized profits/losses + current floating profits/losses. If your today’s realized profit was $3,000 and your current floating loss would be at -$4,000, the Current Daily Result (Max Daily Loss) would show -$1,000 (providing it hasn’t recorded higher daily drawdown in the past as it only displays the highest recorded value throughout the lifespan of the account). However, as the limit is being reset every day, profits/losses realized on previous days are not considered in the calculation, therefore if you would make $3,000 profit on Monday and on Tuesday, you would go in a -$4,000 floating loss, the Max Daily Loss would reach -$4,000.

Quoting hasib

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I don't see BTC in FTMO platform. Do you observe the same?

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Hi Hasib, Bitcoin is certainly present in the FTMO platform, please look for the symbol BTCUSD.

Quoting DuckHunter

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Oops. Another question. The MT4 charts doesnt seem to be the most accurate. Theres some gaps that isnt shown in other charting and candles missing at times. Im trading the Hourly TF. Anyone have any idea why it so? And what charting softwares would one recommend instead? Im using Oanda's FXTrade but their charts hang quite abit. I'm also considering TradingView and maybe Investing.com's Interactive Charts. But i wonder if the lines and indicators i use will be erased or not after i close the browser.

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Hi again DuckHunter, as the Forex Market is a decentralized market without any uniform pricing among the brokers, the differences in price levels may vary on several factors (the current market liquidity and spreads, data feed source, server location, exchange supplier, etc.). However, if you’d encounter any major issues, always please contact us directly at [email protected].


That should be all for today, I hope I’ve covered at least most of your questions. As the discussions on the previous pages were related mostly to trading itself or the differences between retail and proprietary trading, we’re done a bit faster than usual. Thank you for all of your queries and good luck with your trading strategies.

Tomas

Just wanted to share, for those who have any doubts about the legitimacy of FTMO when it comes to being fair with their challenge takers:

In spite me not being at fault here, I think this is the best customer support you can find, as they will take full responsibility when the malfunction is on their side. This is how you do honest business that benefits everyone.
Yeah you are losing the "halt" days worth of opportunities while they investigate, but who cares, the market will be there tomorrow and these were gracefully extended.

i didnt get that mail...
but i was not affected by the outage, or i didnt notice, since i am on ctrader

I wasn't aware of the outage neither, in my case, it was a breach of the "max daily loss" rule that popped up, which I knew was unlikely.

good to know FTMO holds onto their side of the contract when it comes to these issues, its a plus for firm credibility.

ok so i have a question regarding daily loss and max loss system, i have seen something rather interesting, lets say i have a 100k account, max daily loss is 5k and max loss is 10k, you start the day with those set, but you make $3000 troughout that day, these $3000 are not paper profits, theyre closed profits. will it mean for the rest of the day your daily loss grows to 8k ? you can lose 8k that day and u wont cross the daily loss limit ? because in the metrix page, on the trading objectives thing, the daily loss is stuck to $5000 no matter how much you make or lose, the same for max loss, so should we take into consideration the "Current results" section where it says todays permited loss and max permited loss and ignore the "trading objectives " section ?

i hope i made sense because its a bit weird to look at the trading objectives max daily loss when the current results sections says something else

yes, you can loose 8k.

Your loss is only 5k out of capital. The 3k is profit which you made whole day but at the end of the day you loose.

See for example, I made 1400 dollar profit today.

The maximum I can loose today is 6400 dollar.

thanks for clarifying, so if you made $3000 profit today, and tomorrow you start with $103,000 you are still limited to losing only $5000 right ? and the max loss grows to $8000.

you start with 100k today.

You make 3k profit in London session.

The rest of day the maximum you can loose is 8k.

And max daily loss you can loose jumps to 13000 dollar.

Next day max daily loss starts at 5k

But max loss that you can loose will be 13 k.

thank you for clarifying it well, maybe it will help others who read this forum also.

everyone ok?
i see there is no posting about how trading and how challnge/funding account is going from noone latelly.

busy trading and im violently ill at the moment from some sort of poisoning.

poisoning or covid ?
latest seems more likelly

i hope trading is good

damn, did you interfere in russian elections or something ? hope ull get better