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FTMO - For serious traders

  • #7,581
  • May 6, 2021 1:02pm May 6, 2021 1:02pm
Quoting Koop
{quote} Lol we'll never agree on Topstep being the better option. Neither Topsteptrader or Topstepfx fall amongst the top 7 remote firms IMO. Not even top 10. FTMO is easily top 2. But you're spot on about the last part regarding FTMO technicalities.
i think topstep is really cool because u dont have time limit and given that situation you can make 8% without risking too much so u will never cross the max daily loss, which i dont know of any other prop firm offering that
  • #7,582
  • May 6, 2021 5:07pm May 6, 2021 5:07pm
Quoting Rayder4Life
{quote} i think topstep is really cool because u dont have time limit and given that situation you can make 8% without risking too much so u will never cross the max daily loss, which i dont know of any other prop firm offering that
Topstep makes you double the account....twice.

Their 500k buying power account (5k account) profit target is $5,000 in both Step 1 and Step 2.
  • #7,583
  • May 6, 2021 5:12pm May 6, 2021 5:12pm
Tomas, I know you have mentioned this before about the minimum trading days, but given that Funding Talent recently announced that they have completely removed their minimum days requirement, are any discussions being had about lowering the number of required trading days?

I hate to talk about a competitor in this thread, but Funding Talent now has lower profit targets, no minimum days, and faster payouts. Not to mention no news or trading restrictions at all.

While FTMO has far better spreads and tech, the offerings of competitors are too hard for traders to ignore at this point.
  • #7,584
  • May 6, 2021 11:51pm May 6, 2021 11:51pm
Quoting Koop
{quote} Haha
So it's not?
  • #7,585
  • May 7, 2021 12:54am May 7, 2021 12:54am
Quoting KarlKraus
{quote} Exactly. (And that's without mentioning that FTMO require 10% profit in a month and Topstep require 6% without any time-limit at all, and that FTMO costs twice as much to try, and so on.) {quote} This is a big part of the problem with FTMO. They're clearly honest people with integrity, and there's a lot to like about them. But their unending technical issues are a disaster. It's all very well saying (as their fan-club regularly does) things like "You need to keep your own records, and not rely on FTMO's metrix to make your trading decisions",...

Exactly this is a number's industry. I am worried that people keep saying to keep their own records or about keep correct risk management, they are missing the point.
We will see when this happens to them. And if the Metrix updates on some areas and other don't. On some days it updates on other nope, while the days go by. This is not about the 10 minutes delay and not about reaching the maximum losses. It is about not counting trades when stop losses are hit either in profit or in loss.

So this means it can either exaggerate or undermine the results.


I am curious to see what Thomas will reply to DeltaVega and myself. Or suggest.

It will be hilarious if it is "You need to keep your own records, and not rely on FTMO's metrix to make your trading decisions"


Yeah sure FTMO wants traders to succeed. But the part that determines your success or not is not working half of the time.


''THE DISPLAYED RESULTS ARE AUTOMATICALLY UPDATED EVERY 10 MINUTES WHENEVER YOU HAVE ACTIVE TRADE(S). IN CASE OF ANY ERRORS, PLEASE CONTACT US AT [email protected]. TRADING RESULTS IN THIS METRIX ARE INFORMATIVE ONLY. REAL-TIME TRADING VALUES CAN BE SEEN IN THE TRADING PLATFORM.''

Anyways, Monday I will start another free trial and I will update here.
  • #7,586
  • May 7, 2021 1:09am May 7, 2021 1:09am
Quoting delta-vega
{quote} Just to give an update, FTMO got back to me relatively quickly, confirmed there was no violation, and gave me some extra time. Very happy with that, thanks. I think they even had it ready for me by the next trading day. But then unfortunately it happened again today, this time saying my max daily floating loss was $1642 higher than it ever was, so I'm locked out again. I documented it (XHK-SCLQQ-447) and I'm sure they will take care of it. It's still super stressful, although less so now that I know the drill and had a good idea when it...


DeltaVega can you please check to see if the issue was because your stop losses were being hit and not counted either being in profit or loss ?

Thanks
  • #7,587
  • May 7, 2021 2:35am May 7, 2021 2:35am
Quoting ice20
{quote} Topstep makes you double the account....twice. Their 500k buying power account (5k account) profit target is $5,000 in both Step 1 and Step 2.
if you are talking about topstep forex i dont know but for futures you can have a $150k account and trust me thats a big account and also you dont have to double anything, you make 8k profit in step one in however many days u want and in step 2 you have to make 4k in however many days u want
  • #7,588
  • May 7, 2021 3:34am May 7, 2021 3:34am
Quoting Rayder4Life
{quote} if you are talking about topstep forex i dont know but for futures you can have a $150k account and trust me thats a big account and also you dont have to double anything, you make 8k profit in step one in however many days u want and in step 2 you have to make 4k in however many days u want
Lol you guys are always quick to point out all the negatives about FTMO while you ignore everything else but it's vice versa when you review other firms.

Topstep give you a futures account of $100,000 with a daily loss limit of 2% ($2000), weekly loss limit of 2% ($2000) in the second stage and a TRAILING max DD Of 3% ($3000).
A trailing max DD?

You would be paying $325 subscription fees every month for this?
Also, you're not getting a 100k account, check the site again. It says 100k buying power which is actually a $1000 with 1:100 leverage or a $10,000 with 1:10.
You can't open more than 10 contracts at any time.

This is what you're expected to gain 6% profit target with.

But all you choose to see is that profit target is 6% and you have unlimited time to reach it. Lol come on Rayder

Btw, this comparison belongs in the "Prop firm hub" thread. My apologies.
  • #7,589
  • May 7, 2021 5:08am May 7, 2021 5:08am
Quoting Koop
{quote} Lol you guys are always quick to point out all the negatives about FTMO while you ignore everything else but it's vice versa when you review other firms. Topstep give you a futures account of $100,000 with a daily loss limit of 2% ($2000), weekly loss limit of 2% ($2000) in the second stage and a TRAILING max DD Of 3% ($3000). A trailing max DD? You would be paying $325 subscription fees every month for this? Also, you're not getting a 100k account, check the site again. It says 100k buying power which is actually a $1000 with 1:100 leverage...
i just mentioned first about topsteps automatic real time drawdown application, someone else started to talk about their offerings, and you are not correct, their max account is $150k of margin, not how much they can buy, if you buy 15 lots it will go way above that buying power, anyway they limit 15 lots because 1 lot is $12,5 per 25 basis points so with 15 lots thats $187 per 25 basis points, thats alot and the futures market moves 100-200 basis points just like that, so u can imagine it can reach the $3000 max daily loss pretty fast, i know i crossed the free trial max daily loss pretty fast doing that lol, and the trailing max drawdown is pretty good to cover themselves, they are going to fund you with real money you trade on a real market so their interest is to protect their initial capital as soon as u go into profit, because lets face it nobody knows how FTMO makes money so the fact that u can lose 5% or 10% on the FTMO account with them and with so many people blowing their accounts i cant fathom how theyre still in the game without the assumption that the FTMO Account is also just a demo account they might not connect to their own account unless they see u can really make money in time and not blow up, anyway again Topstep offers real account and given the situation making $9000 on a $150k margin with no time limit is pretty good for those $375 a month, obviously ive read about alot of people who kept goin past the max daily limit and resetting but thats on them... and also theres traders on youtube for example stream daily their live topstep accounts, cant say that for FTMO where everything is so secret and their traders are like stars for 1 month and bums the other.
  • #7,590
  • May 7, 2021 7:35am May 7, 2021 7:35am
Quoting Rayder4Life
{quote} ... and you are not correct, their max account is $150k of margin, not how much they can buy, ...
Maybe I'm reading it wrong, but I see "buying power" written...

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  • #7,591
  • May 7, 2021 7:38am May 7, 2021 7:38am
Quoting tradista
{quote} Maybe I'm reading it wrong, but I see "buying power" written... {image}
It is, those accounts are 2k, 3k and 5k and you pay every month for them. I honestly cannot even believe these companies have customers. Pay $275/mo for a 5k account, if I make 10%, that's $500 before the split. What?????
  • #7,592
  • May 7, 2021 7:40am May 7, 2021 7:40am
Quoting Rayder4Life
{quote} and you are not correct, their max account is $150k of margin, not how much they can buy, if you buy 15 lots it will go way above that buying power
Lol how am I not correct? You just confirmed what I said. Buying power = Trading Margin.

They give you a 100k or 150k account and that's all you have In trading margin. And you cant trade more than 10 contracts on the 100k or 15 on the 150k.
So, with 15 contracts, you have only $187 per 25 basis point to risk? On a so-called $150,000 account?

Compared to other firms where you have access to 5,000,000 to 10,000,000 in trading margin on a $100,000 account and can trade any size you want.

Also, you're only looking at FTMO interviews, there are Traders who have had their FTMO accounts for months on YouTube and show profits monthly. You just have to actually search for them like you did the Topstep Traders.
I don't get why they need to stream their trading Live though.

Again, you know my stance or whether it's Demo or live. It doesn't really matter, because you don't even know for sure that it's a Live account just because it says "Live".
Do you really think they deposit money with a broker for every " live account" they provide to their Traders? Lol not possible.

None of these firms actually give you real money in a trading account, they just give you accounts with a "real" or "demo" tag.
  • #7,593
  • May 7, 2021 7:47am May 7, 2021 7:47am
Quoting tradista
{quote} Maybe I'm reading it wrong, but I see "buying power" written... {image}
Lmao that's the even worse younger brother - Topstepfx.

At least they are more honest than Topstopttader (futures) in their offering.

Paying $325 monthly for a 100k buying power/margin?

Why not just save 2 months worth of fees and open a $600 trading account with 1:200 leverage? You would have over $120,000 buying power and freedom to trade any position size it can carry.

Edit -

General prop trading discussion thread - https://www.forexfactory.com/thread/...2#post13528032

Sorry FTMO
  • #7,594
  • May 7, 2021 7:53am May 7, 2021 7:53am
Quoting tradista
{quote} Maybe I'm reading it wrong, but I see "buying power" written... {image}
i was talking about their futures offering not forex
  • #7,595
  • May 7, 2021 7:58am May 7, 2021 7:58am
Quoting Koop
{quote} Lol how am I not correct? You just confirmed what I said. Buying power = Trading Margin. They give you a 100k or 150k account and that's all you have In trading margin. And you cant trade more than 10 contracts on the 100k or 15 on the 150k. So, with 15 contracts, you have only $187 per 25 basis point to risk? On a so-called $150,000 account? Compared to other firms where you have access to 5,000,000 to 10,000,000 in trading margin on a $100,000 account and can trade any size you want. Also, you're only looking at FTMO interviews, there...
buying power is not $150k, thats just the margin u have, and tell me again in which other firm you have access to 5 - 10 million in trading margin on a 100k account ? dont tell me FTMO because FTMO offers cfd indices not futures, and TopStep does offer live, you trade their account on a chicago mercantile exchange and depending on the platform you have to pay data feed fees depending on the market you wanna trade, so yes they do give you a real account and they open a broker account for every trader that becomes funded, why do you say thats not possible ? go look it up and you'll find out by yourself that they actually do that.
  • #7,596
  • May 7, 2021 8:11am May 7, 2021 8:11am
Quoting Rayder4Life
{quote} buying power is not $150k, thats just the margin u have, .
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Lol are you arguing with the official website Ray?


And Yes, FTMO, Enfoid, MFF etc all offer 5-10mill in buying power. Remember, we aren't arguing Forex v. Futures, we're arguing prop firm buying power in general.

Topstep is doing the exact same thing on both their Fx and futures platform. Example, Offering 100k buying power, but they honestly tell you at Topstepfx that it really is just a $1000 account with 1:100 leverage. It's stated on the website.


PS. Thanks for the info about the live Funding... Honestly didn't know they go that far.
Explains why they're so tight risked.
  • #7,597
  • May 7, 2021 8:18am May 7, 2021 8:18am
Quoting Koop
{quote} {image} Lol are you arguing with the official website Ray?
when i traded on their trial account i had 15 contracts open and on some instruments it goes above 200k margin so idk how they calculated that
  • #7,598
  • May 7, 2021 8:22am May 7, 2021 8:22am
Quoting pipmaster77
{quote} It is, those accounts are 2k, 3k and 5k and you pay every month for them. I honestly cannot even believe these companies have customers. Pay $275/mo for a 5k account, if I make 10%, that's $500 before the split. What?????
Yeah, that's the dumbest proposal I've seen so far in this online prop business, not really probable they have any traders joining...
  • #7,599
  • May 7, 2021 8:24am May 7, 2021 8:24am
Quoting Rayder4Life
{quote} when i traded on their trial account i had 15 contracts open and on some instruments it goes above 200k margin so idk how they calculated that
Max doesn't mean the trade can't open it means you should not do it.

You can do it, but don't do it.
"Here, take this 50$ and use only $10 from it to buy yourself an adult diaper"
You can choose to use more than I allowed, but it would mean you have broken my rule.

Would have disqualified you on a real combine/challenge
  • #7,600
  • May 7, 2021 8:27am May 7, 2021 8:27am
Quoting Rayder4Life
{quote} i was talking about their futures offering not forex
same thing, just as Koop mentioned.

buying power = account size * leverage

really misleading!!!
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