FTMO - For serious traders

whats with you people comparing small accounts with high leverage to bigger accounts with smaller leverage ? thats like saying $10 account with 1:5000 leverage is the same as a $100k account with 1:50 leverage, you start with the $10 account and ill start with the $100k account lets see who can make more than 1 trade on it before they blow it

Lol Pipmaster already attempted that challenge with OutThere.
20k account with 1:6 leverage and 4% max DD vs $875 personal account balance with 1:200 or so leverage.

Guess which one survived.

You're not understanding the maths man.

Btw, no one is comparing small accounts to bug account.

We are simply telling you that Topstep is offering you a small account and masking it as a big account with terms like buying power ...

Look here

The point we are making is the "500K buying power" is really a 5K account with 100:1 leverage. You can trade a 5k account with 100:1 leverage on your own and not paying a $275 monthly fee or give up any % of your profit. With FTMO (just an example) a 100K account with 100:1 is 10 million buying power. No monthly on going fee once you pass. Where do you think you will generate more profit? What's the better deal?

It almost seems as if people are just grasping at straws to avoid using FTMO. It's like folks who voted for Biden simply because they didn't like Trump. Had no idea the policies he would be implementing and now that he is in, all of those folks second guessing themselves. Sorry, it was the easiest analogy I could come up with.

interesting convo for the ftmo thread xD

Yeah, figured that may get some good dialogue going.

why do you keep showing me their forex offerings ? i was always talking about the futures offerings, and i dont care who attempted what its basic math, if you arent capable of makin 5% on a 100k account you wont make 50% on a $5000 account.

The point is it is not a 100K account. Never mind, I give up.

Because it is exactly the same as the futures offering but you're not just seeing it hahaha.

They both say 100k buying power or 150k Buying power.

Tell me the difference between both offerings in terms of buying power please.

But Fx takes it a step further and explains in the FAQ that what you you actually get is a 1000$ account with 1:100 leverage.

Don't let the change in wording confuse you.

Also, vice versa, if you can't make 50% on a 5k account with 1:100 leverage, you can't make 5% on a 100k account with no leverage.
BUT that's not even the point!!!

the point is you people dont know the difference between forex and futures, first go learn something about it then come back and we will talk about it. 100k on forex and 100k on futures is very different. forex requires large leverage, futures requires smaller leverage because the markets move differently, us500 moves 10 times more than GBP/USD

It still is quoted as "buying power", they don't disclose the leverage, so not sure exactly what they mean. I'm sure that term is there for a reason though. On a side note, FTMO doesn't offer futures trading, so why are we comparing a futures account vs. a forex account anyway?

You just compared a lambo vs a run down toyota camry.. "You dont understand futures cos S&P e-mini moves faster than forex"... No sir, you don't understand futures because EURX for example, moves identical to forex and you need big buying power (leverage) to do the same size as in retail FX. CashCFD's of US500 (As you call it) also provide additional leverage to trade the same instrument although not centrally exchanged.

To compare an index, which can move 5% per day regularly, vs forex which rarely moves 1% anymore is silly and a low attempt to insult poor ol Mr Koop.

The movement is not the issue.
I repeat, buying power is the bone of contention.
Whether it is Forex of futures, a 100k buying power is a 100k buying power. Not account balance, but buying power.
Unless you can buy more contracts than your 100k allows you, there is no difference.

Futures move so much in so little time yet people think a Daily loss limit of 2% and max trailing drawdown limit of 3% is so wonderful?
I'm beyond bamboozled

anyway doesnt matter everyone picks whatever they want, few people are gonna trade an account for either FTMO or TopStep, so doesnt matter what they offer since nothing what they would do would change that fact

Hello traders,

another Friday, another regular weekly post to keep everyone updated. Aside from responding to your queries and reacting to your posts, there is a couple of minor updates I’d like to share with you.

We are currently focusing mainly on internal operations & maintenance, however, some of the new features are visible to you, our traders, as well.
LoveScalping was recently mentioning his troubles with getting the investor password. We’ve agreed that the access to the investor password could be important for many of you and therefore it is now available for everyone in their Client Area under the “Login Credentials” button.
Also, we are now finalizing the beta testing of our mobile application, which means the App should be publicly released on Android and iOS very soon.
And finally, some of you might have noticed that the names of our YouTube channel and our ForexFactory thread have slightly changed and the term “funding” has been removed from the title in order to correspond with the correct terminology.

Let’s move on to the platforms: there has been scheduled maintenance on all platforms which took place on the 1st of May (last Saturday) between 04:00 - 16:00 platform time (GMT+3). Other than that, there were no maintenances/outages or no issues that would affect our traders were registered.
That’s about it for the update. Now, there were several great posts that I’d like to respond to, so let’s get to it:


Hi FX-DON, you’re right that there are symbols in our cTrader platform with their historical data reaching no longer than 12 months in the past. We are aware of that and we are planning to upload more historical data into the platform, but as we have received just very few complaints, we do not consider it as our utmost priority. In the meantime, you can always use any available charting platform for your analysis. Further historical data in cTrader can be expected in a matter of several weeks.

Hello BlueBear, all of our indices are using the CFD Profit calculation mode. If you would want to calculate your profits/losses, you can use the following formula:
Profit/Loss = (Lot size * Point Value) * Points + (Commission+Swap)
Just recently we’ve put out a detailed article on crypto/indices calculations, you can find it here: https://ftmo.com/en/trading-crypto-and-indices/

Hello Delta-Vega,
first off, it’s always pleasant to see that even the small improvements are being noticed and appreciated and I’m also glad that you are generally rather happy with your experience with us. You are mentioning a recent loss of crypto liquidity on the weekend and the market being closed on a different schedule than stated. I’m not aware of any recent change that could affect the liquidity on cryptocurrencies, so the lowered liquidity might be caused simply by the fact that there are fewer participants in the market during the weekend. Regarding the discrepancy in the market closure, we would certainly like to check that, could you please let me know the specific instance? I know of a case where palladium closed 10 min prior to its specified time. We queried the situation with our lp and they stopped quoting as there was such limited liquidity (due to the nearing weekly close) that it would not be in favor of clients due to very wide spreads. As far as I know, this happens rarely on instruments with very low trading activity prior to the week's close.
I’ve also asked my colleagues from the IT department whether we have registered any issues with the server connection and received a negative response. Also, had there been an issue, we would be certainly flooded with reports. By that, I’m not saying there was not any disconnection, but you’ve said yourself that there was no information about the disconnection in your Journal and without any evidence, it is very difficult for us to take any action. Unfortunately, we receive a significant amount of untruthful claims ( and I’m talking only about the ones we can verify with certainty), and therefore we act based on the available evidence rather than a claim. I understand that it may not be perfect in a similar situation such as yours.

Then there are those unfortunate issues with your particular MetriX. For the past year, we’ve managed to greatly mitigate the number of issues related to the account MetriX, but as proved by your case, the system is still not 100% reliable, especially with cTrader accounts. We are planning to use real-time data technology in the future, but with the number of accounts connected, we’re talking about a very complex and time-demanding process.
This issue is undoubtedly objectionable, but I do not agree that the risk is always on the trader’s side. In the case of an alleged MetriX miscalculation, the case is always fully investigated and as we’re working solely with the data from the trading platform, the trader is not required to provide anything. If confirmed, the MetriX values are corrected & the Challenge/Verification duration is also extended as compensation for the lost trading time. The same goes with any other possible issue which was caused by our side, whether we’re talking about a possible server outage, LP outage, etc. In all of those cases, the situations are being individually settled with a fair outcome for both sides.
Max Daily Loss is assessed based on the midnight balance, not the highest equity or anything else. Each night, our system records the midnight balance of each account and if the equity ever decreases under the amount of midnight balance – Max Daily Loss limit, the account is flagged as having the Max Daily Loss breached. As we consider our monitoring and other systems proprietary knowledge, we want to keep the exact inner workings of our system to ourselves, but I can tell you that most issues are caused by the miscommunication between the platform provider and our servers. We are tracking dozens of thousands of accounts at any time and a large amount of data is streaming to us from MetaQuotes and Spotware. I single wrong equity value can cause an error and it is quite hard to prevent these. We are working on further solutions which would periodically recalculate the values based on the trade history, but on this scale, a solution is not an easy one. When we investigate the reported MetriX issue, we calculate the exact state of the account at the specific time timestamped by our system with based on the prices of each instrument at the time.

I’ve also found the case which includes your request to reverse certain trades. Please understand that we are responsible for the account MetriX, but not for your executed trades. The trader is always responsible for managing his trading account and If there’s no issue with the trading platform, we can not add any balance to the trading account. And regarding the frequency of replying here on ForexFactory, I honestly am not able to devote more time to our thread.
Regarding mentioning my name in our support channels, I’ve found the specific chat and reminded the particular agent to transfer the case to me if requested. I apologize for that, I should have been informed about the chat. And as for the phone call, I’m generally not available for those as we have specialized agents dedicated to phone calls specifically. I’m taking care of our FTMO Traders and as we grow as a company, unfortunately, I can’t dedicate more of my time to ForexFactory or take regular phone calls. I hope that my weekly posts here are sufficient for the majority of the traders here.

The suggestion to add the maximum floating losses to each trade in the Trading Journal is definitely considerable, however, with our current system it would be very difficult as we are considering the overall drawdowns and not the drawdowns of each individual trade. If there are more trades running at the same time, the max drawdown of each trade would not provide as much information as we would not know the current combination of all drawdowns. This feature would be quite computationally demanding and we always need to make sure that all the new features work flawlessly. Currently, we are putting most of our focus on the main purpose of the MetriX and once everything works as intended and without any issues, we can think of incorporating new features.
Also, regarding testing of our software – as I already said we take it as proprietary knowledge and can not accept external testers.

In conclusion, the account MetriX works as a complex sequence of operations and with the number of trading accounts connected, we are yet unable to 100% prevent all possible inconveniences. I’ve seen the record of your complaints and I have to, unfortunately, admit that despite the reducing number of recorded issues, you’ve faced quite a lot of issues with the MetriX. New MetriX technology is intensively worked on and should be introduced later on this year. I understand how stressful the MetriX error can be but at the same time hope that you already know that if you ever report an issue we will investigate it and make corrections where these are due. Please do reach out and write down that Tomas from FF requested your email to be transferred to him. We can certainly exchange a few emails.
Finally, let me say that I honestly value your clear intentions of helping our company and I’ll be glad to consider any further suggestions you may have.

Hi XplosionKibo, I’m glad to see that our Free Trials are serving their purpose. There’s no limit on how many Free Trials you can take, so you can keep on practicing until you feel 100% ready to take the Challenge.

Hi Kd1, as I’ve been mentioning, the feature is in a very early stage of development and I have not received any updates so far.

Hello Biomaxxfirre, these offers do not come from FTMO and are 100% fraudulent. FTMO never offered any cryptocurrency reward or investment opportunities and all Facebook/Instagram accounts posting these offers are always fake. We already put out a warning, please see it here: https://ftmo.com/en/scam-alert/

Hi Phenotype, I’m sorry to hear that you experienced any issues with the MetriX during your Free Trial, as I’ve said in my previous response, further MetriX improvements are one of our main long-term goals. However, I would like to react mainly to the fact that you state you have not received a response from us. We certainly respond to all emails and despite the fact that our general policy is 2 business days, we’re usually able to respond within several hours. However, there has been recently an issue with one of our mailboxes caused by the email provider. That means some of our sent emails were not successfully delivered and if our response is not hidden somewhere in your spam folder, the particular message could be likely among those undelivered emails. The issue has been already resolved and if you’re still seeking a response, please let us know at [email protected] or through the LiveChat service.

Hello Ice20, the minimum of 10 trading days ensures that the Challenge/Verification can not be passed by a random single trade. Please remember that we are looking for serious traders and by removing the minimum of 10 trading days requirement, many traders would tend to try to pass the Evaluation as fast as possible. As we need to protect our capital, we are not interested in providing FTMO Accounts to those traders who would luckily pass the Evaluation by a single trade without any proper strategy.


Well, those were all the posts I wanted to respond to, thank you everyone for your additions to our thread! NonFarm Payrolls shook the markets quite extensively today, so I hope those of you with positions placed on any USD pair were ready and took advantage of the huge move.
Anyway, thank you for your attention and I'll be back next week.

-Tomas

Lmao The Irony! I can't tell if you were being sarcastic Tomas

yea i noticed that too, very funny from him saying that

Hello Ice20, the minimum of 10 trading days ensures that the Challenge/Verification can not be passed by a random single trade. Please remember that we are looking for serious traders and by removing the minimum of 10 trading days requirement, many traders would tend to try to pass the Evaluation as fast as possible. As we need to protect our capital, we are not interested in providing FTMO Accounts to those traders who would luckily pass the Evaluation by a single trade without any proper strategy.


I'm confused here Tomas. As far as I know, FTMO already allows traders to pass Challenge with one single lucky trade. Those additional trades with one micro lot cannot be considered real trades, they are just random trades used to complete 10 trading days rule.
Therefore your comment is wrong.

As long as one micro lot trades are allowed, 10 day rule doesn't make sense and also you saying that FTMO is looking for serious traders is hard to take seriously (you may say that but reality is different).
If you haven't noticed, many traders are trying to pass as fast as possible because FTMO allowed them to do it.

Can you answer this Tomas?
What is the point of minimum trading days rule if you allow traders to place random one micro lot trades?

Dear Tomas,

I am writing to you here as I am left with no choice.

I refer to account number: 1090034370
Complaint reference: WFJ-CWSZR-066

As a loyal customer spending over €4k euros in challenges since December 2020 I deserve a lot better treatment as to what I have received from your colleague in the complaints and investigations department Aiden Lam.

After multiple emails regarding a dispute with a challenge where I have detailed multiple examples of a flaw that is being brushed under the carpet.

The representative has moved goalposts stating one thing then the opposite when to suit his views which are incorrect.

It’s been a week today since my last email as to which I have had no response. Also I first reached out on 20/4/21

Please Tomas I advise you to look through all correspondence from start to finish.

I do not want to have to bring this situation into the public domain and I’m sure ftmo does not want to either but I am at a point where I will be left with no choice on the matter.

Ftmo have stated that they want to be transparent and if so and after you review my case ftmo still feels this representative is in the right I invite ftmo to publicly stand by what the representative is stating to me.

Regards

Joseph

you should bring it to the public domain.