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FTMO - For serious traders

  • #6,761
  • Apr 11, 2021 5:01am Apr 11, 2021 5:01am
The question we need to ask ourselves are.....
1. Am I consistently profitable for at least 6 months in live or demo?
2. can I afford to lose the challenge fees?

If yes is the answer to the above questions the only question need an answer is
3. Does prop firm paying as they promised?

Rest all the nonsensical talks gets you nowhere other then entertainment purposes, Imho.
on a postive roll...
  • #6,762
  • Apr 11, 2021 7:29am Apr 11, 2021 7:29am
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Quoting Rayder4Life
if FTMO robs peter to pay paul, well thats literally the definition of a ponzi scheme, if they pay traders from the fees they collect from failed challenges, thats a ponzi scheme, because it runs as long as they have new people coming it, when people stop coming it all crashes down.

CORRECT !

A guy not getting profits because of “server issues” , better believe it.

every dollar a trader makes , is a dollar less for FTMO if they don’t execute in the real market , SIMPLE AS THAT..
  • #6,763
  • Apr 11, 2021 7:38am Apr 11, 2021 7:38am
Quoting Saxio
{image}{quote} CORRECT ! A guy not getting profits because of server issues , see attached
The arrangement with FTMO is that they pay you 70% of what you earn in your demo account. If their server doesn’t copy the trades, they can’t refuse you a pay out based on that alone I believe. There has to be more to the story. I can’t see anywhere on their site where it states the payment is based on their server copying trades. All they are asking you to do is trade according to real market conditions. The rest is their problem.
  • #6,764
  • Apr 11, 2021 7:56am Apr 11, 2021 7:56am
Quoting ia1979
{quote} The arrangement with FTMO is that they pay you 70% of what you earn in your demo account. If their server doesn’t copy the trades, they can’t refuse you a pay out based on that alone I believe. There has to be more to the story. I can’t see anywhere on their site where it states the payment is based on their server copying trades. All they are asking you to do is trade according to real market conditions. The rest is their problem.

my guess is that they only execute trades in the real market from a few % of the funded traders , the ones with the most consistent trading ..that’s what I would do if I was running a prop firm
  • #6,765
  • Apr 11, 2021 7:58am Apr 11, 2021 7:58am
Quoting Saxio
{image}{quote} CORRECT ! A guy not getting profits because of “server issues” , better believe it. every dollar a trader makes , is a dollar less for FTMO if they don’t execute in the real market , SIMPLE AS THAT..
Where did you get this image?
  • #6,766
  • Apr 11, 2021 8:08am Apr 11, 2021 8:08am
Also...fukkin lol-ed.
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  • #6,767
  • Apr 11, 2021 8:12am Apr 11, 2021 8:12am
Quoting allinazi
{quote} Just playing devils advocate here ... if you get paid on the funded account do you really care? like what I’m trying to say what does it matter if it’s a live or demo ? Or if it’s linked to live or not ... as long as you get paid IMO - yes a lot if not all these “prop firms” make their money with subs ... hence why some of these have some real daft rules as part of their model ... to make it harder for the trader and increasing the chance to fail What I look for is a firm with as little restrictions for the trader as possible... if you find...
if no live trades are being executed, its just a ponzi scheme with a different dress on.
  • #6,768
  • Apr 11, 2021 8:20am Apr 11, 2021 8:20am
The problem here is to believe that prop-firms are firms that create 1 month challenges to recruit traders. That's not true. And whatever rules or objectives they set, it's the same. Prop-firms don't ask for participation fees, the same no companny ask you to pay for a job interview. The same reason why, no company will ask you to have skills (10% a month or similar) that are not required in their industry. What these business ask for their challenges is something that even the best traders in the world can't reach. That's audited and proved. It does not matter what some active kids of this thread or FTMO relatives post in this thread: the best traders don't reach those levels of profitability, whether they do with above or below $500.000 capital under management.

Prop-firms are firms that make money by trading. When they need traders, they don't ask to them for some participation fee in order to prove that they are profitable. They don't ask for 10% profit in a month. There are examples of transparent businesses in this industry where you can see how much they manage; they have an account audited; and results are clearly published. None fo them verify traders in a mamtter of 1-3 months. None of them ask you to pay to participate.

This FTMO model and similars are casino businesses mask behind prop-firms. It is a clear case where regulatory bodies will finally interfere and legislate to avoid this type of frauds. These wrongly-called prop-firms will finally have to add some legal notice to their sites and be regulated as casinos or betting businesses. The debate will end then.
Always ready to help
  • #6,769
  • Apr 11, 2021 8:22am Apr 11, 2021 8:22am
Quoting Saxio
{quote} my guess is that they only execute trades in the real market from a few % of the funded traders , the ones with the most consistent trading ..that’s what I would do if I was running a prop firm
I’ve always had the same hunch. I’m sure they won’t be copying trades from people unless they see a long track record, and some sort of consistency. A trader can potentially pass the challenge in one day with a bit of luck and some large lot trading. But replicating that every month won’t be easy.
  • #6,770
  • Apr 11, 2021 8:22am Apr 11, 2021 8:22am
Quoting Takisd
{quote} if no live trades are being executed, its just a ponzi scheme with a different dress on.
I guess we’ll never really know the whole truth
  • #6,771
  • Apr 11, 2021 8:32am Apr 11, 2021 8:32am
Quoting PaulMF
The problem here is to believe that prop-firms are firms that create 1 month challenges to recruit traders. That's not true. And whatever rules or objectives they set, it's the same. Prop-firms don't ask for participation fees, the same no companny ask you to pay for a job interview. The same reason why, no company will ask you to have skills (10% a month or similar) that are not required in their industry. What these business ask for their challenges is something that even the best traders in the world can't reach. That's audited and proved. It...
The unraveling of Funding Talent might pave the way for many other such schemes to be exposed. I’m not implying that FTMO operates in the same way, but I’m sure there will be some other firms that operate as such. And again, there isn’t anything fundamentally wrong with the model, it is a business after all. But as long as everything is transparent, then you know exactly what you’re getting into. Don’t casinos and betting firms operate in the same way?
  • #6,772
  • Apr 11, 2021 8:36am Apr 11, 2021 8:36am
has anyone ever not got paid by them?
  • #6,773
  • Apr 11, 2021 8:39am Apr 11, 2021 8:39am
Quoting allinazi
has anyone ever not got paid by them?
a few people have reported having their pay cut into pieces and stuff. Generally when its a large amount citing "our copier didn't copy the trades". Take it with a grain of salt, every industry has negative reviews for every company. FTMO is no exception.
  • #6,774
  • Apr 11, 2021 8:40am Apr 11, 2021 8:40am
Quoting ia1979
{quote} The unraveling of Funding Talent might pave the way for many other such schemes to be exposed. I’m not implying that FTMO operates in the same way, but I’m sure there will be some other firms that operate as such. And again, there isn’t anything fundamentally wrong with the model, it is a business after all. But as long as everything is transparent, then you know exactly what you’re getting into. Don’t casinos and betting firms operate in the same way?
Yes, they do. But we know what they are. And we know they are regulated to do that. They are audited and based on their regulatory bodies, they can pay for what they offer.

That's something we don't know about these "prop-firms" businesses. They must get regulated for what they do and being audited to confirm they can afford the payments schemes they offer.

Anyway, not sure that this type of model can be regulated in the terms they actually operate. Do you think any regulatory body will allow those scalling plans?
Always ready to help
  • #6,775
  • Apr 11, 2021 9:03am Apr 11, 2021 9:03am
Quoting Takisd
{quote} a few people have reported having their pay cut into pieces and stuff. Generally when its a large amount citing "our copier didn't copy the trades". Take it with a grain of salt, every industry has negative reviews for every company. FTMO is no exception.
who and where can these "people" be found? And where is the proof?
Anything above the line is an uptrend, below the line is a downtrend.
  • #6,776
  • Apr 11, 2021 9:14am Apr 11, 2021 9:14am
Quoting Takisd
{quote} a few people have reported having their pay cut into pieces and stuff. Generally when its a large amount citing "our copier didn't copy the trades". Take it with a grain of salt, every industry has negative reviews for every company. FTMO is no exception.
ftmo must be clear about when or how something like that could happen
  • #6,777
  • Apr 11, 2021 9:56am Apr 11, 2021 9:56am
Quoting Saxio
{image}{quote} CORRECT ! A guy not getting profits because of “server issues” , better believe it. every dollar a trader makes , is a dollar less for FTMO if they don’t execute in the real market , SIMPLE AS THAT..
Could you at least post a link to this post/article or comment? A half way cut screenshot of a post saying "i know someone" is worse than newly registered FF members with only 1 post vouching for FTMO on the FTMO thread.

Secondly, till date, i do not know of any one who's legitimate payment was denied, except the Instagram guy Lamboraul who made a fuss one time about FTMO suspending his account while FTMO claimed "investigations" were going on. As we know, the case was resolved, he got paid, provided some "proof" and still posts FTMO profits, one i recently saw over $30k+ on his $300k funded account till date.

As i've said several times , FTMO like other prop firms could very well be paying profitable traders from failed challenges (is it possible they've been doing this for over 3 years and are still alive with almost little to no proof of them ever defaulting in payment? may be), But isn't that sort of what the forex trading market and it's liquidity is? a zero sum game that entails that one person on one end has to lose money in order for another to win? Isn't the forex market just a big ol' ponzi scheme with some regulation and big facilitators?


FTMO like Funding talent should be ashamed of themselves for their dishonesty if indeed their only source of income and payments is failed challenges, but that knowledge won't stop any profitable traders from attempting to take the challenge and make some money from them before the the whole scheme crashes.

That's the point.

if you think 10% for just one month where you have to give it your all, is possible, why the hell would you not want to try and get "funded" to make as much profits as you can before the ship sinks? That's the part i find retarded.
If i already earn little money from others who lose in the market, why on earth wouldn't i want to try to even earn more on a larger scale? even if it's just for 3 months?

Ponzi or not, guess what? there will always be suckers in the market and they're growing in numbers everyday, so liquidity will never run dry and prop firms may never run out of fees from failed challenges any time soon.
  • #6,778
  • Apr 11, 2021 10:06am Apr 11, 2021 10:06am
Btw, Just as some have considered that maybe FTMO copies only a few consistently profitable traders, it sounds somewhat plausible but i would think the whole process of screening those traders would be really cumbersome and stressful.

IMO i honestly do not think everyone's trades are copied as is (if infact trades are even copied), rather i believe the wise thing a "Prop firm" would do is take only a small fraction or half of the position sizes being traded by funded traders and maybe increase along the way. That way, they make more money on profitable traders/positions and lose less on losing funded traders.
Or maybe they don't even copy trades using the same high leverage?

We'll never know.
  • #6,779
  • Apr 11, 2021 10:08am Apr 11, 2021 10:08am
Quoting Koop
{quote} Could you at least post a link to this post/article or comment? A half way cut screenshot of a post saying "i know someone" is worse than newly registered FF members with only 1 post vouching for FTMO on the FTMO thread. Secondly, till date, i do not know of any one who's legitimate payment was denied, except the Instagram guy Lamboraul who made a fuss one time about FTMO suspending his account while FTMO claimed "investigations" were going on. As we know, the case was resolved, he got paid, provided some "proof" and still posts FTMO profits,...
Mostly common sense and logical thinking missing components of whiners who cannot trade or cannot afford to pay for the challenge.
And those who wants to see regulations authorities step in to provide audited statements believe that achieving 10% per year is cumbersome let alone 10%per month.
Bugger off kiddos, this ain't your playground.
on a postive roll...
  • #6,780
  • Apr 11, 2021 10:13am Apr 11, 2021 10:13am
Its a new industry for retail FX. We should expect Binary option style behavior going into it whilst the real players start to figure out the legitimate route. Eventually things will change, the firms will be more transparent or insular (less likely to accept people). The transparent ones will look to get more traders in the insular ones will look to develop their traders to increase profit. The original boom is all about capital. I highly doubt anyone has huge investor capital in this business, including FTMO.
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