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FTMO - For serious traders

  • #5,861
  • Feb 19, 2021 8:06am Feb 19, 2021 8:06am
I'm not re-programming for Ctrader.. Magnitude of reasons including the cost and I know for a fact that whatever this issue is with MT4 can be/should be fixed.

Also, if the Ctrader data is that much different to the MT4 data then it raises a whooooooooooole other bunch of questions.
  • #5,862
  • Feb 19, 2021 11:36am Feb 19, 2021 11:36am
Hi guys, I'm curious if you make money these days? I do not. Something is difficult for me to market this week.
  • #5,863
  • Feb 19, 2021 11:51am Feb 19, 2021 11:51am
Quoting vasal
Hi guys, I'm curious if you make money these days? I do not. Something is difficult for me to market this week.
I haven't been on FTMO, but I have been on my regular trading accounts when I am home to trade them. I am on a snowboarding trip at the moment. Market seems normal to me but a bit volatile.
  • #5,864
  • Feb 19, 2021 1:37pm Feb 19, 2021 1:37pm
was a slow week for me too....and i just started this week the challenge
  • #5,865
  • Feb 19, 2021 5:54pm Feb 19, 2021 5:54pm
slow for me, too...
win some, lose some, gradually declining...
until the last few hours when my bots caught some nice rides on bitcoin... holding still, may take profits before weekly close in a few hours...
  • #5,866
  • Feb 21, 2021 1:04pm Feb 21, 2021 1:04pm
I did...
closed the trades.
If I'd left them I'd have done better...
some choppage over the weekend,
but the robots have re-entered and doing okay.
  • #5,867
  • Feb 21, 2021 5:18pm Feb 21, 2021 5:18pm
tracking my 2nd trial account. i got the job done in 2 days by 5 profitable trades out of 9,
that's about 56% Win Rate and still it's not safe to consider it as strategy. i have more 3 days left so i will see if could improve it to greater than 70%..
Attached Image (click to enlarge)
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  • #5,868
  • Feb 21, 2021 11:13pm Feb 21, 2021 11:13pm
Quoting Feelas
tracking my 2nd trial account. i got the job done in 2 days by 5 profitable trades out of 9, that's about 56% Win Rate and still it's not safe to consider it as strategy. i have more 3 days left so i will see if could improve it to greater than 70%.. {image}
Isn’t that an issue of many traders? They can be profitable traders but they still find their strategy not good enough so they keep searching for the ‘holy grail’.

A drawdown/profit ratio of 1:10 is quite impressive if you can keep that up over a longer period.
  • #5,869
  • Feb 21, 2021 11:47pm Feb 21, 2021 11:47pm
Quoting Dmh
{quote} Isn’t that an issue of many traders? They can be profitable traders but they still find their strategy not good enough so they keep searching for the ‘holy grail’. A drawdown/profit ratio of 1:10 is quite impressive if you can keep that up over a longer period.
Hi DMH, I appreciate what you mentioned and completely agree with you.
But in my case, I have 4 losing trades out of 9 that means about 44% fake entry. as i trade fixed lot size that would be a very risky error ratio , so i need to cut that down.
  • #5,870
  • Feb 24, 2021 8:01am Feb 24, 2021 8:01am
Where's the FTMO gang? Very quiet here all of a sudden.

I must post really horrible about FTMO, that'll bring 'em back!
  • #5,871
  • Feb 24, 2021 8:22am Feb 24, 2021 8:22am
Hello traders,

I hope you’re all doing at least alright. The snow mentioned in my previous post has already melted and in FTMO, we had a somewhat calm week. On Saturday, we’ve encountered an outage on cryptocurrencies between 2 - 4 p.m. CET. The issue has been resolved fairly quickly and thanks to our 24/7 support, the situation has been already settled with most of the affected traders. Other than that, no issues occurred and we’re managing to also focus on the development of soon-to-be-added features.

I can see a couple of posts from some new faces, so I’d like to take this opportunity to welcome anyone who has recently joined. However, there are also some accusations and theories that I thought were already resolved in the past. I'm talking about the rumors such as us being a „pyramid scheme“ or being a market maker and trading against our traders.

Despite the incredible growth we’ve been through in the last 5 years, our philosophy has not changed by any means. Finding great traders, providing them with our partner’s capital (which has not always been up to $100,000 per account), and being profitable thanks to the joint efforts of our in-house traders and all our FTMO Traders is the whole idea of our business since the day no. 1. This model has been working for us ever since and there’s simply no reason for us to start engaging in any shady practices.

I can understand the caution and the lack of trust from the people who have not heard of us before. Honestly, we can face the fact there were, are, and probably will always be people whose only intention is to get rich quickly without taking any responsibility. However, I believe our already quite long history of successfully funding (and paying) traders worldwide and our dedication to the community proves otherwise.


Now that I’ve taken that off my chest, let’s get into your questions that caught my attention:

Quoting tradista
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: {image} 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.
Hi Tradista, I’m glad you were satisfied with our response. As you’ve mentioned, a technical issue has occurred on our side, therefore I believe getting the issue resolved and possibly compensate for the lost time should be the industry standard.

Quoting Rayder4Life
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...
Rayder4Life, you’re absolutely correct. If you would make a $3,000 profit in one day on the $100,000 Challenge, you could afford to lose $8K from that point before breaching the Max Daily Loss.
Max Daily Loss is a terminus technicus and simply states the maximum permitted loss (combination or realized and unrealized) per one day CE(S)T. If you start the day with a balance of 100K, you would breach the Max Daily Loss ($5K) if your equity decreased under $95K. Note that it is the midnight balance (not equity) that is of importance at the beginning of the day but it is the equity decrease that is considered. Technically, Max Daily Loss is the same throughout the lifespan of the account as it just defines this limit.

The amount you can afford to lose on the given day is „Today’s permitted loss“ (shown on the right side of your account MetriX), which states the amount of funds your equity can decrease from the equity of the account at the time this value was calculated. Please note that the value shown is calculated at the moment of the last MetriX update (which is shown just below) and thus might no longer be true if you have open positions and the floating P/L changes in time. The time of the last update is shown just 3 lines under „Today’s permitted loss“ for your convenience. In your example, Today’s permitted loss would display $8k as that is the amount of funds your account could lose as compared to its current state (at the time of the last update)
Max Loss works quite simple and basically means that your account's equity must never decrease under 90% (on normal risk setup account, 80% on Aggressive) of the accounts initial balance

Quoting fxwinnerz
Hi Tomas-ftmo I understand FTMO Traders should not carry trades during weekend I have question here, What about Bitcoin? Can FTMO traders do trading during weekend(Saturday and Sunday) when market open. Could you clarify? Thanks {image}
Hello Fxwinnerz, FTMO Traders are required to close their trades according to the trading hours of the particular instrument (if the rollover is 2 hours or less, the trades can be kept open). As cryptocurrencies are open through the weekend, FTMO Traders can trade cryptocurrencies during the weekend as well.

Quoting wojinovic
I made demo account on FTMO. But have one question for people that are FTMO traders already, what are usual spreads for majors? I noticed that on demo account they are tight like 0.2 to 0.5 on GBP/USD during London session plus 2.5EUR commission per lot. And one more, what happens when you pass challenge and verification steps? As much I understood you need to make 10% gain in 30 calendar days on challenge step, and then 5% gain durning 60 calendar days during verification step. If I pass everything and respect the rules of daily and max floating...
Hi Wojinovic, the spreads on the Challenge/FTMO Account are very similar, if not identical as on the Free Trial account. The initial fee is being refunded once you finish your first profitable month (profit withdrawal is not necessary in order to receive the initial fee refund). And yes, as long as you do not violate the Trading Objectives or Terms & Conditions, you will have access to your FTMO Account.

Quoting dr_who
Having been around fx and trading in general for over 20 years has taught me one thing at least (and probably a few other things too). That a prop company that asks anyone for money up front just to prove your credentials is 99% certain to be a scam. There is absolutely no other reason for them to ask for money other than to provide them with an income.... My advice is to keep well away from FTMO and any company like them...
Hi Dr_who, I’m not sure whether is it even necessary to reply to such accusations. We’ve been around since 2015 and such topics and theories were discussed countless times. To verify our credibility, you can ask our current traders here for their opinion or check our reviews at https://www.trustpilot.com/review/ftmo.com. Markets evolve and so do business models. We have set ours to be able to provide our services to wide public and believe that our product brings great value and possibility to all profitable traders.

Quoting BWilliam
{quote} I can't find a reason why higher fees for higher funding. {quote} Payout becomes an issue when the fees collected minus cost is not sufficient to cover the payout. Given the low success rate of 0.08% the business model is viable until.

Quoting BWilliam
{quote} I think most people think prop firms are looking for new employees to fill their direction trading desk. So this human resource cost is part of their total business cost to manage their funds. Like with all businesses the cost of employ is part of doing business that potential new employees don't have to contribute towards. Still the question following your cost recovery rational, is there a higher cost involved in hiring a head of department as compared to a entry level worker? Yes, but in this case of 10k to 100k start up fund allocation...

Quoting BWilliam
{quote} Businesses spend millions for their human resource department. How much would Goldman Sachs human resource department cost? How many thousand applicants wrote in to attempt get the job? How much more work for human resource employees to vet through each application to determine whether job requirements are met? Did they require potential new employees pay fees as cost recovery like you suggested?

Hi BWilliam, the bigger capital our trader chooses, the bigger potential losses we risk, so naturally, the initial fee for the Challenge is also higher. We are not a broker company, we do not accept any deposits, we do not provide the trader with direct access to the live market, hence we do not perform any dealing desk actions.

And I think the answer to the „why is there a fee“ question is quite obvious. We are looking for serious, experienced traders who are able to responsibly manage our capital. Without charging the refundable initial fee, we’d be getting requests to take the Challenge not only from those traders we’re looking for, but mostly from people who have lots of free time and can afford to repeat the evaluation indefinitely in hope to get lucky. Imagine how many people would pass the Evaluation process by luck after thirty of fifty free tries and the kind of financial damange they could cause to us. I believe that you agree funding such traders with our capital would not be really sensible. Secondly, the fee also covers the costs of the services and the IT infrastructure that we provide to our traders.

Quoting ryuryu
Guys, I have a question. I have all my stuff with mt5, but ftmo allows only mt4 for free challenge. How you think is it will be ok if I'll run simple copier from my mt5 to their mt4 account? P.S. Still thinking about one logic problem... If someone can constantly earn 10% per month why the world there is a need of ftmo or other prop firm? It is extremely easy to get an investor who will be happy with 1% especially in Europe where the bank rates can be even negative... May be the purpose is only use it as a good way to improve trading skills because...
Hello Ryuryu, if you want to try out the Free Trial and copy your trades from your own MT5 account, you certainly can. We also allow copy-trading on Challenge/FTMO Accounts, however, the usage of any third-party software is always at your own responsibility.

Quoting wojinovic
{quote} That is actually quite logical. But the problem is not fees, problem is low success rate. And to be honest rules are not impossible. 10% for 30 days is not big deal. It is hard but is doable. 5% daily and 10% max drawback is pretty much what any money management book is recommending. That I think is the hardest thing here because those rules are most commonly broken. What they did that i do not like much is making floating loss. Even if your position goes into profit after going down 5% you are already gone. But on the other hand that is...
Hi Wojinovic, just as you’ve said, a floating loss is the account exposure. From the investor's perspective, a trader cannot keep the open positions in excess, hoping they might turn around into profit. If the trader has an open position and the floating loss keeps increasing, the position has to be closed at some point to prevent the trader from making unacceptable losses. We’ve decided to set this point to -5% per day and -10% overall.

Quoting Rayder4Life
{quote} i have a question, why do they say "after a thorough analisys of your trading" , does this mean that if they analyse you trades and think they arent fit for their type of trading they wont pay you your profit split even tough you made a profit without breakin any rules? whats with that statement ?
Hello again Rayder4Life, we’re referring to analyzing the trades for any possibly illegitimate trading practices (e. g. trading during the restricted news events) before we proceed to the payout. As long as you trade in accordance with our rules, there will be no issue at all.

Quoting Yacinesftc
i just have one request to FTMO if they can reply to it plz if FTMO can proove in anyway possible that they are really involved in the REAL MARKET ?? any evidence or info that FTMO can give to prove to us that it is really involved in the real market and they are not running a business where they pay winners from losers challenges fees, do you really pass trades to the real market ? because based of monthly statistics that FTMO is giving, it seems like funded accounts are not making that kinda of money we see on youtube lol, with thousands and thousands...
Hi Yacinesftc, such topic has been previously addressed many times. FTMO Accounts are demo accounts that are connected to our own live accounts. This way the trader can withdraw the results of his trading activities and we can be in full control of the account if necessary. Thanks to the system, we’re also able to prevent and stop all trading activity in case of coordinated hack attacks or if a trader breaches Max Daily Loss or Max Loss.

For obvious reasons, we can not share the exact information about the quite complex IT background of our account management as the industry is very competitive, but I believe we are being transparent by occasionally sharing already pretty sensitive information about the payouts, new traders, etc. Regarding the payouts you’ve mentioned, we share the amount paid in US dollars only (we also offer accounts in 3 other currencies), and also, some traders do not withdraw their profits each month, but prefer to build up the balance on their FTMO Account. January payouts were lower than our average as many traders didn't really trade throughout Christmas and New years eve.

As I’ve mentioned in my answer to Dr_who, we’ve been successfully funding traders since 2015 which I hope could be long enough to overcome the initial skepticism.

Quoting moodybot
{quote} Can’t see in the rules where it says a scale up can only occur if profit is left in the account. 10% over 4 months, 2 out of 4 in profit and be above starting capital when receiving the scale up... or that’s how I understand it.
Hi Moodybot, you do not have to leave your profits on the account in order to receive the Scaling Plan. If you make a 10% overall profit in 4 months, while at least 2 months are being profitable and your account is not at loss at the time of your request, you’ll become eligible for the 25% initial capital increase.

Quoting pippypip
Hi FTMO Traders, Can anyone tell why at this time just before an hour of day close as per FTMO time standard. why are spreads too high across all forex pairs? Also, I see many gaps around at this time on most pairs? I appreciate the response from FTMO traders or Thomas! I don't usually trade at this time, as I am a day trader, but if I am holding trades over several days, I would like to know why spreads are widening too high? Thanks a lot!
Hello Pippypip, there’s a market rollover each day from 22:55 to 23:05 CE(S)T, which means the market is moving into another day. At this time, the liquidity is significantly lower than usual, therefore the spreads are being increased. This is a completely natural market behavior, so please be careful when holding your positions overnight.

Quoting Takisd
I am a cheerleader for FTMO... But I want to show an example of why their LP is screwing their price feed up. They have like 500x more ticks than the market and that is used to mess around with price action and make traders react differently to price. I am not accusing FTMO of this, I do not think their set up is advanced enough to do this, but I am accusing their LP of this. You will see below two charts: 1) FTMO averages of which I used a color to show the average prices. Blue = bullish, pink = bearish (the one where the latest averages are showing...
Hi Takisd, our Liquidity Pool uses aggregated liquidity from multiple liquidity providers. As a result, the tick activity might be higher than usual. We believe that this is, on the other hand, an advantage for our traders as this ensures that traders receive fills at the best possible prices. To add, the feed on our FX symbols did not change with the addition of .cash symbols. Please contact us directly so we can investigate the unprocessed TP you mentioned. This never really happens on our platform so I’m quite surprised to read about it and wish to look into the case. Please email us providing as many details regarding the issues you have raised so we can take the case further. Platform freezing is not something we would have issues with in nearly half a year (apart from the few Datafeed outages always transparently admitted here), so that is something we want to definitely investigate. Please request your email to be transfered to Tomas Riha so I can review the case personaly. Thank you.

Quoting Trader-IT
{quote} Stop from 04:16 CET Same thing yesterday afternoon. It works out like this: Needless to update the server request, you have to select a new one manually. I have two platforms open. I've updated one now and it's ok. The other is still standing because I haven't done anything yet (you can see from the timetable) The image is from this time 04:44 CET {image}
Hello Trader-IT, we have not received any connection complaints on Friday as far as I know, however, I’ll inform our IT department to investigate the situation.


That should be it for today, thank you for reading my post all the way down here. I hope some uncertainties were cleared up and everyone has a little better idea of how FTMO actually operates. I hope all of your trading plans and strategies will pay off and I’ll see you all next week.

-Tomas
  • #5,872
  • Feb 25, 2021 2:52am Feb 25, 2021 2:52am
Hello all,
I use to read all threads on this forum it was nice informative and also some crap, but I see entire group is on silent mode from few days, please post your experience and info and keep this thread active,
Thank u
Regards
Ahmed
  • #5,873
  • Feb 25, 2021 5:49am Feb 25, 2021 5:49am
Hi mate

On my side there's no problems, FTMO is still making payments and the only Prop Firm that allows EA's.
www.t.me/tradepropmatic_ceo
  • #5,874
  • Feb 25, 2021 6:33am Feb 25, 2021 6:33am
Quoting Neoking
Hi mate On my side there's no problems, FTMO is still making payments and the only Prop Firm that allows EA's.
That's not true, others do allow EA's (although you might have to get it OK'd first) but what IS true is that when one adds up all the plusses and minusses FTMO is better
  • #5,875
  • Feb 25, 2021 8:37am Feb 25, 2021 8:37am
I am having a conversation with them about the feed matter. Obviously having these discussions are very hard and I am due for my next trip on monday to the alps so time is of the essence.

Ultimately due to the nature of the market its likely that a stalemate will be reached in regards to the feed because comparing apples to oranges shows that they are always not the same fruit.

I have managed to figure out a way to filter out the excess ticks from the ftmo feed though so i shouldn't get so many false signals anymore. Basically if you filter tick reading by 50ish % per minute you will get a proper feed.
  • #5,876
  • Feb 25, 2021 10:28am Feb 25, 2021 10:28am
People stop posting for various reasons, four I can think of are:
1. They already got funded and want to keep their results private - and would most likely only post/reply for unanswered questions/queries.
2. They failed and quit.
3. They failed and are trying again but want to focus on their trading and passing the evaluation.
4. They left this thread due to the toxic posts in the past few weeks (or months?)

Everyone should be happy that there are no trolls posting ... at least from the past few days. Green pips to everyone and good luck!
adapt or be killed
  • #5,877
  • Feb 25, 2021 11:07am Feb 25, 2021 11:07am
Quoting slappymove
. 4. They left this thread due to the toxic posts in the past few weeks (or months?)!
some real odd/rude people on this thread
  • #5,878
  • Feb 25, 2021 12:24pm Feb 25, 2021 12:24pm
Quoting slappymove
People stop posting for various reasons, four I can think of are: 1. They already got funded and want to keep their results private - and would most likely only post/reply for unanswered questions/queries. 2. They failed and quit. 3. They failed and are trying again but want to focus on their trading and passing the evaluation. 4. They left this thread due to the toxic posts in the past few weeks (or months?) Everyone should be happy that there are no trolls posting ... at least from the past few days. Green pips to everyone and good luck!
also because most of the important issues have been addressed several times, so until there's changes happening, there's really nothing more to discuss.
  • #5,879
  • Feb 25, 2021 5:26pm Feb 25, 2021 5:26pm
Quoting Takisd
I am having a conversation with them about the feed matter. Obviously having these discussions are very hard and I am due for my next trip on monday to the alps so time is of the essence. Ultimately due to the nature of the market its likely that a stalemate will be reached in regards to the feed because comparing apples to oranges shows that they are always not the same fruit. I have managed to figure out a way to filter out the excess ticks from the ftmo feed though so i shouldn't get so many false signals anymore. Basically if you filter tick...
this sounds fascinating, and possibly important to others...

any info on what kind of signals this could affect is appreciated.
I'm sure we can adjust to that which cannot be changed.

Thanks for sharing!
  • #5,880
  • Feb 25, 2021 5:55pm Feb 25, 2021 5:55pm
Quoting doyathink
{quote} this sounds fascinating, and possibly important to others... any info on what kind of signals this could affect is appreciated. I'm sure we can adjust to that which cannot be changed. Thanks for sharing!
Anything using ticks/averages.

Obviously because they provide the data they will defend it and since I have alternative data from various sources I will defend it. Thus you end up with a stalemate, but it needs to be said obviously. Also I don't have the time to forensically fix someone elses feed and I am not that desperate to do it. As i mentioned earlier in here, i don't think FTMO has control over it i suspect its the LP. I don't know who the LP is, although I have my suspicions and I believe its a common complaint from automated traders that tick stuffing is occurring.

If you are trading at high frequencies tick stuffing exists to make the HFT bots go crazy and lose a lot.

I want to be very clear, I am not accusing FTMO of this I understand very well how metatrader/ctrader works and the inner workings of the servers and most bridges. To me it just looks like the LP does the opposite of smoothing data and unfortuantely as a momentum trader I got caught in it when they switched to .cash symbols and it affected my strategies.

I may switch to FX because of this if I decide to continue with FTMO, less profitable lower risk but their FX feed looks perfectly fine and matches everything I have.
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