Attachments: FTMO - For serious traders

FTMO - For serious traders

#7,441
Edited 5:19am Apr 22, 2021 2:09am | Edited 5:19am

PaulMF
Joined Apr 2020 | Status: Trader | 862 Posts

Quoting huatboyz

Disliked

Hi, does anyone know what broker does FTMO uses or are we allowed to use our own broker? how are their spreads? it's not mentioned anywhere in their site.

Ignored

Some have reported huge spreads. You know, that might depend on some volatility moment. Anyway, someone reported that by comparing spreads between their broker and FTMO (using 2 screenshots).

There is no way to know the broker they use or even if they use one at all. They have removed some texts from their website about LMAX. Some reported that the spreads of FTMO were bad because of LMAX and that's why they had to remove those texts. Others think that maybe LMAX doesn't want to be related with this firm.

They refused to had used the term "funded account" in the last post when, in fact, they had been using it for a while. Maybe, you won't trade any account with them and get paid depending on some account performance but with their cash. Maybe, that cash mainly comes from participation fees.

As you can clearly identify, all the "trading" process is very obscure. This type of information is usually available for a trader in a real prop-firm.

Always ready to help

#7,442
Apr 22, 2021 2:51am Apr 22, 2021 2:51am

Koop
Joined Apr 2016 | Status: Conquistadores' | 1,545 Posts

Quoting PaulMF

Disliked

{quote} Some have reported huge spreads. You know, that might depend on some volatility moment. Anyway, someone reported that by comparing spreads between their broker and FTMO (using 2 screenshots). There is no way to know the broker they use or even if they use one at all. They have removed some texts from their website about LMAX. Some reported that the spreads of FTMO were bad because of LMAX and that's why they had to remove those texts. Others think that maybe LMAX doesn't want to be related with this firm. They refused to had used the term...

Ignored

Lmao what a long useless babble without actually helping the person with the answer he required. If you don't know something, it's best to keep quiet, lest you publicly embarrass yourself.

#7,443
Apr 22, 2021 2:55am Apr 22, 2021 2:55am

PaulMF
Joined Apr 2020 | Status: Trader | 862 Posts

I answered the two questions: spreads and brokers.

Always ready to help

#7,444
Apr 22, 2021 7:07am Apr 22, 2021 7:07am

parveenverma
Joined Aug 2018 | Status: LQUIDITY-THE ONLY TRADING TRUTH | 1,373 Posts

Quoting TraderOtakar

Disliked

Hello Traders, my name is Otakar and I am a co-founder of the FTMO.com. Our aim is to find successful traders on Forex and CFD who we provide with our company capital when they meet our conditions. The testing of traders is performed through a demo account which we call the Challenge. Why to trade for us? Receive funding up to 40 000 USD, you keep 70 % of profits, we cover the losses. In this thread we will share articles about trading, news about the company and the most importantly we will answer all your...

Ignored

Hi TraderOtakar,
I am a FTMO funded trader.I am trading from India and passed my challenge in 20 days period and verification in 14 days period.I have recieved my FTMO contract agreement and FTMO account of 100000$ at Dated March 11, 2021.Sir there is not any contact source at FTMO website where I can directly share my issues to you and support team and relevant department for that issue is not able to sort my issue.I humbly request to you please share your personal mail Id so that I can directly share my issue to you.I hope you can only sort that issue.
An early reply. Will be highly appreciated from your end.

#7,445
Apr 22, 2021 7:47am Apr 22, 2021 7:47am

anthon25
Joined Jan 2015 | Status: Empire aint built just in one day | 607 Posts

Quoting Koop

Disliked

{quote} Thoughts already answered you. If you reach the goals and trade for the 10 minimum days, you can ask for the verification account. You would not need to wait for 30 days. You must trade for 10 minimum days though.

Ignored

Hi Thanks Koop. Your Information is very apreciated

It is too much post... i can't read all.

I am completely a lazy Trader & Pennies Rebate Hunter

#7,446
Apr 22, 2021 10:27am Apr 22, 2021 10:27am

Sammih
Joined Mar 2015 | Status: Living Life Large | 1,011 Posts

Quoting pipmaster77

Disliked

{quote} You are absolutely correct Koop. The 10% that first month is challenging, maybe perhaps why they call it a "challenge". Perhaps (more than likely) it is designed for failure. Once you pass it though, if you can earn 3-4% per month, which is very doable staying within their DD, your split is 2100-2800 per 100K. You can have 400K (before scaling). Find a similar model firm and do the same, your income is 200K plus and you shouldn't even be coming close to the DD I am not there yet, but working very hard on it. As you know, I failed (in the...

Ignored

If you can earn 2-3% per month, 5%ers looks good. Look at this

Investment $450 + Skill

Similar one can be made for FTMO

Attached Image (click to enlarge)

Click to Enlarge

Name: the plot.jpg
Size: 199 KB

I'm high on trading, cant you tell?

#7,447
Apr 22, 2021 10:48am Apr 22, 2021 10:48am

Koop
Joined Apr 2016 | Status: Conquistadores' | 1,545 Posts

Quoting Sammih

Disliked

{quote} If you can earn 2-3% per month, 5%ers looks good. Look at this Investment $450 + Skill Similar one can be made for FTMO {image}

Ignored

Looks good on paper, but accomplishing 3% with FTMO seems much easier than with 5ers and their max 4% DD and 1:6 leverage. (Lol also you're recommending 5ers to the wrongest person possible).

Btw, please do you have something like this for a 100k or 200k FTMO account? Or is it something you could just rush up if you ever have the time?
I'd love to see it, but my excel skills suck rhino balls.
3 or 5% gains monthly. You can forget about including the scaling plan. Thank you.

#7,448
Apr 22, 2021 10:52am Apr 22, 2021 10:52am

pipmaster77
Joined May 2016 | Status: Trader | 6,304 Posts

Quoting Sammih

Disliked

{quote} If you can earn 2-3% per month, 5%ers looks good. Look at this Investment $450 + Skill Similar one can be made for FTMO {image}

Ignored

If the fee is larger than the initial DD offered, put it in a personal account and by stage 3 of their "scaling" plan, your personal account is larger. They are essentially having you fund your own account and taking 50% for that privilege they are providing you.

https://www.forexfactory.com/thread/...0#post13501310

#7,449
Edited 12:50pm Apr 22, 2021 12:36pm | Edited 12:50pm

tradista
Joined May 2011 | Status: - | 769 Posts

Quoting Koop

Disliked

{quote} Looks good on paper, but accomplishing 3% with FTMO seems much easier than with 5ers and their max 4% DD and 1:6 leverage. (Lol also you're recommending 5ers to the wrongest person possible). Btw, please do you have something like this for a 100k or 200k FTMO account? Or is it something you could just rush up if you ever have the time? I'd love to see it, but my excel skills suck rhino balls. 3 or 5% gains monthly. You can forget about including the scaling plan. Thank you.

Ignored

Koop, did you notice they have 1:30 leverage now - aggressive account ? Of course, objective also increases, but sounds more reasonable to me than before.

#7,450
Apr 22, 2021 1:38pm Apr 22, 2021 1:38pm

Feelas
| Joined Jan 2021 | Status: Trader | 178 Posts

Quoting pipmaster77

Disliked

{quote} If the fee is larger than the initial DD offered, put it in a personal account and by stage 3 of their "scaling" plan, your personal account is larger. They are essentially having you fund your own account and taking 50% for that privilege they are providing you. https://www.forexfactory.com/thread/...0#post13501310

Ignored

Exactly. Fee ≥ DD offered, then it's 100% personal account.

#7,451
Apr 22, 2021 2:10pm Apr 22, 2021 2:10pm

Koop
Joined Apr 2016 | Status: Conquistadores' | 1,545 Posts

Quoting tradista

Disliked

{quote} Koop, did you notice they have 1:30 leverage now - aggressive account ? Of course, objective also increases, but sounds more reasonable to me than before.

Ignored

Yeah man, I did. The aggressive plan with 1:30 is way better even with the added target. They're kind enough to give you 3 months max to reach it. The margin is enough to safely risk up to 1.5% per trade based on my calculation.

What I don't like is the fact that DD limit remains at 4%.
Every other firm increases the DD limits on their "aggressive" models, that's the whole point of it being aggressive.

#7,452
Apr 22, 2021 2:16pm Apr 22, 2021 2:16pm

Trader-IT
Joined Sep 2019 | Status: Trader | 519 Posts

Quoting pipmaster77

Disliked

{quote} Well, couple of different points of view here. One could view challenge fees as a business expense. I am sure, being the intelligent person you are, you are aware most companies operate in the red for a minimum of 2 years or if you wish to purchase an existing profitable business would be around 2x the annual profits. So, even if you fail and pay for 6 challenges, each one lasting 1 month, you would be in the black by month 9. Alternatively, to purchase a business generating 50K in profits would cost 100K, 100K in profits would cost 200K,...

Ignored

I hope I have understood / translated your comment well.

I don't want to correct you, but (if we're talking about the real world) the numbers are noticeably larger.
I am not referring to you,
but to a person who plans to invest $ 100,000 in a (example) restaurant, and believe he will start earning after two years.
We are in the world of dreams.
Worker or employee mentality.

If you want a business/services activity that is not at a loss,
you have to calculate a cost from 2 to 5 times its annual turnover (gross profit before all ..... I mean the taking).

The average return (reaching the BE) coincides approximately between 6 and 10 years from your departure.
Provided there are no unforeseen events (such as covid) or emergency investments to be addressed.
Otherwise you risk bankruptcy too, perhaps after 4 - 6 years (losing all your money).
And only after this long time, do you finally start earning.

Is opening from scratch different? Absolutely nothing changes, on the contrary, sometimes the costs and risks are greater.

I have had several businesses of my own.
One of the best (with 7 employees) cost me 110000 Euros (one hundred and ten thousand) and had an annual turnover of over 500000 Euros (more than half a million dollars).
If I tell you that I have had a net income of 10,000 Euros per year (ten thousand) with a personal commitment of 60 - 80 hours per week, can you believe it?
And in the costs, I have not included the repayment installment of the investment.
After how many years did I go to BE?

In my house they say "all that glitters is not gold". "Non è tutto oro quello che luccica".

I've seen things you people wouldn't believe

#7,453
Apr 22, 2021 2:33pm Apr 22, 2021 2:33pm

doyathink
| Joined Sep 2010 | Status: Trader | 341 Posts

nothing good comes easy...

#7,454
Apr 22, 2021 2:43pm Apr 22, 2021 2:43pm

pipmaster77
Joined May 2016 | Status: Trader | 6,304 Posts

Quoting Trader-IT

Disliked

{quote} I hope I have understood / translated your comment well. I don't want to correct you, but (if we're talking about the real world) the numbers are noticeably larger. I am not referring to you, but to a person who plans to invest $ 100,000 in a (example) restaurant, and believe he will start earning after two years. We are in the world of dreams. Worker or employee mentality. If you want a business/services activity that is not at a loss, you have to calculate a cost from 2 to 5 times its annual turnover (gross profit before all ..... I mean...

Ignored

Yes, you understood me correctly. Was just making the point, with some general off the cuff numbers. Point being if you set up a business to trade money that is not your own, the challenge fees are simply a business expense to get you where you are going. You actually solidify the point even further with the real world numbers being far worse than what I described.

#7,455
Apr 22, 2021 2:52pm Apr 22, 2021 2:52pm

tradista
Joined May 2011 | Status: - | 769 Posts

Quoting Koop

Disliked

{quote}What I don't like is the fact that DD limit remains at 4%. Every other firm increases the DD limits on their "aggressive" models, that's the whole point of it being aggressive.

Ignored

Yeah I agree with you, should they increase the DD limit accordingly then they'd be a highly attractive alternative or a complementary account for swing trades.

#7,456
Apr 22, 2021 3:50pm Apr 22, 2021 3:50pm