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FTMO - For serious traders

  • #7,761
  • Jun 29, 2021 2:46am Jun 29, 2021 2:46am
Quoting GreatMe
How do you guys stay away from breaking the "news violation", like if my SL or Tp is hit with the 2 minutes before or after a news event,it will be a violation, even if for any reason I didn't take that to note when opening my trades?
Check the economic calendar under my client area. They also send out emails a day before any restricted news is to come out.
  • #7,762
  • Jun 29, 2021 8:18am Jun 29, 2021 8:18am
Hello Traders,
I’m glad to be back with another regular update, today a little bit unusually on Tuesday.
I also apologize for my Friday absence, my primary duties kept me from making the usual Friday term.
Let’s start off with platform updates:
On Wednesday, 30th June 2021, the HK50.cash index will close early at 22:00 platform time. The symbol will remain closed all Thursday and will reopen on Friday, 2nd Jul 2021, at 04:15 platform time.
All the platform news are always first released well in advance at ftmo.com/en/symbols. Since there can be changes in trade hours for public holidays (Presidents Day, Queens Birthday,...) and other reasons, I would recommend bookmarking the page and checking it ideally every day prior to starting your trading session.
Our platform experienced a brief period of execution issues on 22nd June, shortly after the American market open. We have already provided fair compensation for the issues with the traders that have reported any issues and wish to apologize for any inconvenience caused.

Finally, let’s switch on to our thread for a minute. We’ve gathered over 25 new posts since the last update, among which are certain ones that I would like to respond to:


Quoting dr_who
{quote} Trading off your $40,000 at 1:50 (which is what your company allows on the US30) and keeping even 50% is the equivalent to trading off $2000 at 1:500 and keeping 100% as I do on ICM. As I'm already trading off a much higher sum why on earth would I want to jump through all your hoops and restrictions ?
Hi Dr_who, first of all, please note that the post you’re reacting to is soon to be 4 years old, our conditions have significantly changed since then.
There are several crucial differences between trading on an FTMO Account and a retail trading account with increased leverage. Aside from being required to score a way higher profitability percentage, you most importantly never risk your own finances while trading with FTMO. I don’t know how long have you been trading, but using a 1:500 leverage is extremely risky in my humble opinion.
I would also like to add that “...all your hoops and restrictions” seems like a bit of an overstatement: there are 4 basic Trading Objectives during the Evaluation Process and only 2 Trading Objectives (Max Daily Loss, Max Loss) + 2 additional rules (no trading on the affected symbols during the restricted news, closing trades according to the trade hours) that our FTMO Traders have to follow.
However, if you’re already managing your own, sufficiently funded trading account that you’re satisfied with, that is perfectly fine and I wish you all the best with your trading.

Quoting Inception12
Just a little clarification needed on the restricted news events. The restriction is only on opening new trades 2 minutes before but we can hold trades through the event as long as the trade was taken more than 2 minutes before the news hits. This is my understanding and i hope am right
Quoting Inception12
{quote} Thank you for that explanation. So hypothetically, if my TP was 20 pips from price and i decided to move it to 100 pips away, if price still got there in the 4 minutes do i still get penalized? I understand the sl bit but the TP side seems a bit too much.
Hello Inception12, Koop described the rule below quite well. You must not open/close a trade on the affected instrument 2 minutes before and 2 minutes after the release of the restricted macroeconomic event. Also, please bear in mind that this applies to FTMO Traders only.
The reason this applies to closing positions in both loss & profit is that although during 99+% of time the FTMO Account execution is near identical to our corporate accounts, it can significantly differ during extreme volatility spikes. On these occasions, the volatility reaches immense levels and the liquidity is reduced to the level where the position on our live account could be closed at a completely different price, compared to your FTMO Account. Since we are paying the Profit Split based on the profit generated on the FTMO Account, then especially with high volume trades, this could be a considerable issue for us as we might have to pay the difference from our own pockets.

Quoting astrotrader2
{quote} I have anothero option to these traders that want to manage an account between 10000 and 30000 usd.The proof last 3 weeks and i can help to pass it. Contact me in my thread for more info.
Hello Astrotrader2, please note that one of the points of ForexFactory’s Membership Trader Code of Conduct is “No commercial agendas”. Posts such as yours will not be allowed in our thread.

Quoting Mdot
To Tomas, For people like myself who are trading live funded accounts, why do we have to get new login details and a new account whenever we do a profit withdrawal? How come we can't use the same account? I am using MyFxBook to track my trades and my metrics because quite frankly the FTMO dashboard doesn't track no where near the level of metrics that MyFxbook does. But every month I have to add a new account which is screwing up my metrics. Please reply.
Hello Mdot, In the past our FTMO Traders used to trade on one account, but we have changed it for multiple reasons. Having a new FTMO Account after each Profit Split is allowing us to process everything faster, avoid issues that may arise from the account being very old (account expiry), and it also improves the security of the account, as even if the traders publish their account number, their new account stays in complete anonymity. Of course we will continue to improve all aspects of the services we provide there are any particular functions you would like to see in our dashboard, let us know. Feedback from our traders is always important for us, especially when it comes to developing new features.

Quoting pipmaster77
{quote} Speaking of the FTMO mobile app, downloaded and tried signing up and the good 'ole UNITED STATES OF AMERICA is not a listed country. I felt like I was on a website of one of the great brokers from around the world that I'm not allowed to trade with. Certainly hope this is not a sign of things to come. Next will come the email that US clients are no longer allowed.
Hello Pipmaster77, I assure you that there’s no reason to be worried about such an email, there’s no such thing coming. The United States of America is listed in our app, kindly look for “USA” when signing up. We decided to go with "USA" as we had lots of feedback from our traders filling in our contract form expecting to find the States mentioned as "USA".


That sums it up for today's update. As mentioned above, we're recently busy with several longer-term projects as well as with our daily operations, I'll be glad to share more information in one of the following updates again. Thank you for your attention everybody and I hope you have a great week ahead.

-Tomas
  • #7,763
  • Jul 1, 2021 10:40am Jul 1, 2021 10:40am
Hi Tomas

Can you please explain this price discrepancy on UK100. The same instrument from another provider is printing different prices?

Below chart is FTMO on the left (black) and the other provider on the right (in grey).

You can see the current price is about 7 points difference? Note the daily high I've marked on both charts (as of 16:38 GMT) for reference.

Can anyone else check their feed as well please as it is currently not tradeable using pivot data..?

Attached Image (click to enlarge)
Click to Enlarge Name: FTSE FTMO Spread.png Size: 17 KB

Thanks

F
  • #7,764
  • Jul 1, 2021 11:51am Jul 1, 2021 11:51am
Quoting Fagin
Hi Tomas Can you please explain this price discrepancy on UK100. The same instrument from another provider is printing different prices? Below chart is FTMO on the left (black) and the other provider on the right (in grey). You can see the current price is about 7 points difference? Note the daily high I've marked on both charts (as of 16:38 GMT) for reference. Can anyone else check their feed as well please as it is currently not tradeable using pivot data..? {image} Thanks F

One is a spot CFD other is a futures CFD. Its normal, and doesnt affect your trading.
  • #7,765
  • Jul 1, 2021 12:01pm Jul 1, 2021 12:01pm
Quoting Takisd
{quote} One is a spot CFD other is a futures CFD. Its normal, and doesnt affect your trading.
Thanks but they are both listed on my broker feed as UK100 Cash spot not futures and it does make a difference to me.
  • #7,766
  • Jul 1, 2021 12:25pm Jul 1, 2021 12:25pm
Quoting Fagin
{quote} Thanks but they are both listed on my broker feed as UK100 Cash spot not futures and it does make a difference to me.
Some feed providers base it on the futures vs the spot. If someone uses futures its likely they are hedging their exposure on futures. If its not futures then its likely the LP is a broker like saxobank or lmax or something like that.
  • #7,767
  • Jul 1, 2021 12:29pm Jul 1, 2021 12:29pm
Quoting Takisd
{quote} Some feed providers base it on the futures vs the spot. If someone uses futures its likely they are hedging their exposure on futures. If its not futures then its likely the LP is a broker like saxobank or lmax or something like that.
I think the other broker uses an LMAX feed. I haven't checked it with one other major UK provider yet.
I just need to know which feed to use for trades as I scalp off Pivots, round numbers, etc and 7 pips is make or break for me.

Cheers

F
  • #7,768
  • Jul 1, 2021 12:36pm Jul 1, 2021 12:36pm
Quoting Fagin
{quote} I think the other broker uses an LMAX feed. I haven't checked it with one other major UK provider yet. I just need to know which feed to use for trades as I scalp off Pivots, round numbers, etc and 7 pips is make or break for me. Cheers F
use the one you are trading on.. thats all the matters. Using other feeds than the one you are trading on is always going to lead to discrepancies and ultimately it will affect your psychology when trading.
  • #7,769
  • Jul 2, 2021 7:41am Jul 2, 2021 7:41am
Hi Tomas,

My friend said that he asked the live chat and apparently we're allowed to trade gold or hold onto our gold trades during NFP? Is this true or have the live chat got this one wrong?

Thanks in advance!
  • #7,770
  • Jul 2, 2021 8:02am Jul 2, 2021 8:02am
Quoting Dao-trades
Hi Tomas, My friend said that he asked the live chat and apparently we're allowed to trade gold or hold onto our gold trades during NFP? Is this true or have the live chat got this one wrong? Thanks in advance!
Gold has no news restrictions. See here for pairs that have restrictions: Can I trade news? - FTMO
Trade with confidence, trade without fear.
  • #7,771
  • Jul 2, 2021 8:06am Jul 2, 2021 8:06am
Quoting Cryptosurf
{quote} Gold has no news restrictions. See here for pairs that have restrictions: Can I trade news? - FTMO
It just seems a bit weird because gold is literally XAU/USD so it has USD in the pair, so I'm quite paranoid
  • #7,772
  • Jul 2, 2021 8:29am Jul 2, 2021 8:29am
Quoting Dao-trades
{quote} It just seems a bit weird because gold is literally XAU/USD so it has USD in the pair, so I'm quite paranoid
USD forex pairs only.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_19.png Size: 105 KB


Tomas addressed in the past as well.

Quoting Tomas-ftmo
{quote} Dear TrendLover, We are very sorry you have been given incorrect information by our representative and will provide extra training to the support agent responsible for the misinformation. I confirm that there are actually no news restrictions on gold and silver and that if USD is specified in the restrictive news, only forex pairs containing USD are prohibited from being traded. Cryptos and other non-forex instruments are ok to be traded during these news. {quote}
Trade with confidence, trade without fear.
  • #7,773
  • Jul 2, 2021 9:28am Jul 2, 2021 9:28am
Quoting Cryptosurf
{quote} USD forex pairs only. {image} Tomas addressed in the past as well. {quote}
Okay that is quite comprehensive, thank you for that, I guess my fears have been averted!
  • #7,774
  • Jul 2, 2021 9:32am Jul 2, 2021 9:32am
Quoting Dao-trades
{quote} Okay that is quite comprehensive, thank you for that, I guess my fears have been averted!
Also those rules only apply to funded traders. Doesn’t apply on Challenge and Verification accounts.
Trade with confidence, trade without fear.
  • #7,775
  • Jul 2, 2021 1:38pm Jul 2, 2021 1:38pm
Quoting Tomas-ftmo
Happy Friday everyone, I hope most of you made some profits and have not got caught on the wrong side of Wednesday's volatility and that everyone got to take some time off the screens and finally enjoy a bit of the summer weather. Before the weekend approaches, we will finish with a quick regular update. Let’s start off with the platforms as usual: Tomorrow, on Saturday 19th June, all our platforms will undergo weekend maintenance. The maintenance will be performed within 1 hour, trading will be disabled from 05:00 to 06:00 platform time (GMT+3)....
GUys! whats the point of releasing mobile app if there is no working Push Notifications for Calendar events as well as important alerts about daily and overall loss limits. These would be the handy use of the app. Very needed.
always draw trendlines
  • #7,776
  • Jul 3, 2021 5:11am Jul 3, 2021 5:11am
Quoting Cryptosurf
{quote} Also those rules only apply to funded traders. Doesn’t apply on Challenge and Verification accounts.
Oh I know, I'm in my first month as a funded trader!
  • #7,777
  • Jul 3, 2021 7:50am Jul 3, 2021 7:50am
Hello,

You have recently launched swing accounts which permits news trading and week-end holding with a 1:30 leverage.

Will you give the ability for your active traders to switch from classic to swing accounts ?
  • #7,778
  • Jul 3, 2021 6:24pm Jul 3, 2021 6:24pm
Quoting Dao-trades
{quote} It just seems a bit weird because gold is literally XAU/USD so it has USD in the pair, so I'm quite paranoid
I really worry about the average trader's comprehension

Gold is a Commodity, NOT a pair

A pair is 2 Currencies

Pretty basic point you are not understanding

Am I right?
It takes a lot for me to IGNORE you, but you can try.
  • #7,779
  • Jul 3, 2021 6:38pm Jul 3, 2021 6:38pm
Hello traders,
Today’s update takes place quite unusually during the weekend as today marks the day of an important, anticipated announcement.
After the lengthy process of development, testing and general preparations, we’ve released a whole number of new features and improvements just several hours ago. I've summarized all the important details our traders should know about below, so let me guide you through them.

FTMO Swing account type
Starting off with likely the most important and desired update, the new account type.
As the name suggests, the new account type is aimed mainly at swing traders who operate in bigger time frames and need to have the ability to keep their positions open through several days or even weeks.
FTMO Swing account type therefore allows our traders to hold their positions overnight and over the weekend even after they pass the Evaluation Process and receive the FTMO Account, which in this case has been renamed to FTMO Account Swing.

As most of you probably know, on the traditional FTMO Account, it is prohibited to keep your trades open over a rollover break longer than 2 hours and also over the weekend (without our approval). Thanks to the rule, our capital is not exposed to possible market open gaps (we’ve also covered this topic in this article).
In order for our traders to be able to hold their positions with no limits, the maximum leverage on the FTMO Swing account type has been reduced to 1:30. The risk that weekend gaps represent in regards to FTMO Swing Traders & our connected our Proprietary Trading Firm’s live trading accounts is therefore significantly mitigated.

The reduced leverage also comes with one additional advantage: our traders are now allowed to open and close their positions even during the otherwise restricted news on the FTMO Account Swing.
In conclusion, once you pass the Evaluation Process of the FTMO Swing account type, you will have to respect only the 2 remaining Trading Objectives that you are already familiar with: Max Daily Loss and Max Loss.
The initial fee for the FTMO Swing account type Challenge is the same as for the traditional account type and just like with the traditional FTMO Account, your initial fee will be fully refunded once you finish your first profitable month on the FTMO Account Swing.

A complete redesign of our website and the Client Area
As the previous design of our website remained unchanged for a few years, we’ve decided to go for a complete redesign and upgrade the environment used by our traders, and not only by the appearance. The website is now also faster, more secure, and all in all more user-friendly.
The Client Area received, aside from a new look, also several new features:

  1. Account MetriX – Equity curve

One of the most significant one of the new Client Area features would most likely be the equity curve that is now available in the Account MetriX. The equity is now present on the same chart as the historical balance and is updated with each trade closed. Traders can now therefore visualize & analyze their trading path much more clearly.

  1. Leaderboard

Quite often we receive inquires on the highest payouts our traders regularly withdraw. We have thus created a leaderboard of our current Top 10 FTMO Traders according to their current profit. The leaderboard is regularly updated and divided by specific continents. You can now observe the results of our current Top 10 traders from America, Africa, Europe and Asia straight in your Client Area. We also completely understand the privacy concern that may trouble some of our traders – each trader therefore has the option to be excluded from the ranking.

  1. Customer Support

With all the updates, you may find one common goal: we are trying to make things as comfortable as possible, whether it is trading itself, or all the interface around.
Your Client Area now includes a new feature called Customer Support. Along with using your regular mailbox to share your concerns with us, you also now have a second option to contact us directly through your Client Area, which is mainly more secure. Our support agents will be also available to immediately see from which trader has the message been received without the need for further security checks.

New payment option – PayPal (US clients only)
Our traders from the United States may now use PayPal to pay the initial fee for the Challenge. The option so far remains for US citizens only, withdrawals through PayPal for US clients should be available soon as well.

Free Trials update
The last major update I would like to share today is the new options for our Free Trials. We always encourage our traders to start with the Free Trial account before getting into the Challenge as having your strategy thoroughly tested is essential for your following trading results. We however offered the option of only one account size on MetaTrader 4. That has now changed.
Since today, all traders can fully configure a Free Trial account for all available account sizes, currencies and on both MetaTrader 4 & 5.

Our Terms & Conditions and FTMO Account Agreement were updated as well in order to accommodate the new FTMO Swing account type, the sample of the new FTMO Account Agreement can be received upon request.


That is it for the major updates, let’s now shift back to the usually covered regular updates:
Due to Independence Day Holiday in the US on Monday, 5th July 2021, the trading hours of certain instruments will be affected.
All US Equities will be closed for the whole day

  1. XAU (Gold), XAG (Silver), USOIL.cash and UKOIL.cash will close early at 19:45
  2. US Indices (US30.cash, US100.cash, US500.cash) and JP225.cash will close early at 20:00
  3. NATGAS.f, DX.f, XPT (Platinum) and XPD (Palladium) will close early at 20:00

All hours are expressed in the platform time (GMT+3).

And finally, I would like to respond to several posts that were added during the past week:


Quoting Fagin
Hi Tomas Can you please explain this price discrepancy on UK100. The same instrument from another provider is printing different prices? Below chart is FTMO on the left (black) and the other provider on the right (in grey). You can see the current price is about 7 points difference? Note the daily high I've marked on both charts (as of 16:38 GMT) for reference. Can anyone else check their feed as well please as it is currently not tradeable using pivot data..? {image} Thanks F
Hello Fagin, as Takisd mentioned, the exact price might slightly differ from each provider based on various factors. If you intend to perform any technical analysis, kindly use the chart directly in our platform.

Quoting Dao-trades
Hi Tomas, My friend said that he asked the live chat and apparently we're allowed to trade gold or hold onto our gold trades during NFP? Is this true or have the live chat got this one wrong? Thanks in advance!
Hi Dao-trades, there are no restricted news that would affect gold whatsoever. As you can see from the table posted by Cryptosurf below, restricted news affect only 7 Forex pairs, DAX, Crude Oil, and Natural gas.

Quoting WWTrades
Hello, You have recently launched swing accounts which permits news trading and week-end holding with a 1:30 leverage. Will you give the ability for your active traders to switch from classic to swing accounts ?
Hi WWTrades, we are able to change the account type only for those traders who have not started trading yet. If you’re already trading the Challenge/Verification and you would like to switch to the FTMO Account Swing once passed, simply let us know at [email protected] and if you manage to pass the Evaluation Process, you will receive the FTMO Account Swing.
The same applies also to our FTMO Traders: if you would like to switch from the traditional FTMO Account to FTMO Account Swing, kindly inform us about the intended change and your account type will be changed for the next cycle.


Once again we've come to an end, thank you for your attention, everyone. I imagine a lot of you will come up with all sorts of questions to which I'll gladly respond in the following update, coming on Friday as usual. Enjoy the rest of the weekend and happy trading!

-Tomas
  • #7,780
  • Jul 3, 2021 6:53pm Jul 3, 2021 6:53pm
@Tomas - Will FTMO ever offer Bi-Weekly payout? Traders would like to pull their profit out of the markets sooner and bi-weekly payouts is something most in the community would like. That would also allow FTMO to receive their portion sooner as well. Most of FTMO competitors have bi-weekly payouts. Why is FTMO so stubborn in regards to this?
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